INTRODUCTION
Marketing has increasing its activities in effective and efficient way. Changes are taking place very frequently in product and services, so it is essential to know what has to be done which help to work according to knowledge of customers. There is need of changing in actions through which targets and goals can be achieved inn effective manner (Babin and Zikmund, 2015). Marketing department has to keep in contact with various other departments of company. This helps to make changes in working style and achieve targets effectively. Marketing of product is important as it helps to communicate with society.This report is based on Coca- Cola which is a good soft drink company. This report provides knowledge about marketing mix and marketing plan of Coca- Cola (Papasolomou and Melanthiou, 2012).
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help@instantassignmenthelp.com.auTASK 2
P3 Marketing mix of Coca- Cola and Red bull
Marketing mix is the technique in which 7P's of marketing are involved. This is effective to know what can be done through which modifications in business policies can be made. This helps to know policies of competitors and analysis can be possible (Cooper, 2012). Comparison of marketing mix of Coca- Cola and Red bull is discussed as under-
|
Basis |
Coca- Cola |
Red bull |
|
Product |
Coca- Cola has wide range of products which is helpful in gaining advantages of varieties of customer. Fanta, Limca, Sprite, Thums Up, etc. are products served by Coca- Cola. |
Red bull come with new type of beverages which come with varieties of soft drinks such as Red bull Cola, red bull zero calorie. Red bull come with various editions such as blue, silver, red, etc. |
|
Price |
Coca- Cola serve their product at various place, so they finalise their prices according to geographical region. Pepsi is core competitor of Coca- Cola. They serve produuct in various price range with various package system. |
Red bull is one of the expensive brand in non alcoholic sector. This is the brand which uses two types of prices as per place of sales. One place is pubs, disc, club, etc. while other is grocery store, departmental store, etc. There is more fluctuations in prices of Night club as compared to other. |
|
Place |
They have varieties of customers in all over world. They have reach over remote areas too. Managers of Coca- Cola select mediums through which they can cover different locations and satisfy demand of customer. |
Red bull covers around 170 countries. They have contact with various hotels, pubs, etc. which helps to get good sales. They have god distribution channel so demand gets satisfied frequently. Managers of Red Bull does not use online sources to sale their product. |
|
Promotion |
Coca- Cola changes their promotional events frequently. They use various approaches such as hoarding, television advertisement, etc. ''Support your school'' is one of the effective advertisement of Coca- Cola. |
Red Bull has many innovative approaches through which they can create awareness about products. They make relations with customers which are significant for growth of business. |
|
Physical evidence |
They provide articles which are working same as adopting changes in activities. They make small initiates to promote their brand. |
Physical evidence of Red Bull is crushed ice. This gives some new energy to customers and this is effective for growth of sales. Customers gets attracted and helps to create awareness among customers. |
|
Process |
Process of Coca- Cola is very effective in distribution. As they have fast distribution channel. This helps to satisfy demand of consumer. |
Red Bull has famous because they have fast supply chain. This is effective for providing satisfaction to customers. |
|
People |
Coca- Cola is the company which has various products which are significant for all age group people. Cola- Cola serves no sugar drinks also for elder age people. |
Red bull produces drinks mainly for young age people. There main target is people between age group of 19-31 years. Mainly sporty people are focused customers of Red Bull. |
TASK 3
P4 Marketing plan of Coca-Cola
Marketing plan is important and useful document which is prepared by the each and every organisation with aim to introduce their all details in accurate manner. This plan includes overview, mission, vision, objectives, SWOT Analysis, competitors analysis, marketing budget, monitoring and controlling (Dibb and Simkin, 2013). All these information are assist the customers to identify about the company and purchase more products. Above all elements which are includes in marketing plan are explain as below:
Overview of Coca-Cola: It is a type of public and American corporation and Beverages industry across the world. It was invented by Pharmacist John Stith Pemberton in 1886 at Atlanta, Georgia. In the organisation, 61800 employees are working with aim to maximise sales and revenue of company. They produce different products such as Fanta, Diet coke, Coca-Cola zero, life and many other products at affordable price (Pike, 2015).
Mission: “Mirror the richly various markets we offers, capitalizing on our inclusive culture to attract, engage, retain and develop a global talent mix to fuel our competitive edge.”
Vision: “Be as inclusive and diverse as our brands, unleashing the power of perspective within our associates to drive innovation and sustainable system growth.”
Objectives:Main objective of the company is to achieve long term goals and targets by providing quality products and services to the customers at reasonable price (Fill and McKee, 2011).
SWOT Analysis:It is main and foremost part of the marketing plan which is necessary for the company to prepare it in an accurate and systematic manner (Jones and Rowley, 2011). This analysis includes Strengths, weakness, threats and opportunities of the business entity which are determined as below:
(Source: SWOT Analysis, 2017)
|
Strengths |
Weaknesses |
|
|
|
Opportunities |
Threats |
|
|
Competitors Analysis:It is identified as other part of the marketing plan which highly effects on the productivity and profitability of company either positive or negative manner. In the marketplace, there are different competitors of the Coca-Cola such as PepsiCo, Dr Peppers Snapple Groups and many other (Lamb, Hair and McDaniel, 2011). All these are highly impacted on the growth and success of company.
Segmentation, Targetting and positioning:
- Segmentation: Coca Cola company distinguish its target market according to demographic and geographical areas. Coca cola has produce a large variety of non-alcoholic products comprising chiefly soft drinks and fizzy.
- Targetting: Coca-Cola target youth population as well as children also.
- Positioning: They are emphasis on creation and development of happiness culture in their workplace and marketplace also (Moore, 2014).
Marketing Budget:
|
Marketing budget |
|||||
|
Particulars |
1st year |
2nd year |
3rd year |
4th year |
5th year |
|
Initial money |
55000 |
33900 |
33700 |
20900 |
20100 |
|
Investment |
15000 |
22000 |
15700 |
13000 |
|
|
Total |
55000 |
48900 |
35700 |
36600 |
33100 |
|
Marketing expenditures |
|||||
|
Advertisement |
11000 |
7000 |
6600 |
6400 |
6600 |
|
Sales promotion |
2300 |
2100 |
5400 |
3200 |
91200 |
|
Direct marketing |
7800 |
6200 |
3200 |
7300 |
3400 |
|
Total |
21100 |
15200 |
14800 |
16500 |
18300 |
|
Available balance |
33900 |
33700 |
20900 |
20100 |
14800 |
Monitoring and Controlling: In this manger of coca-cola play vital and effective role for managing all activities and functions in an appropriate manner. Thus, it is important for the manager to identify that all activities are executed appropriately and easily (Muralidharan and Neha, 2013).
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CONCLUSION
From the above mentioned report it has been concluded that marketing is more essential and significant element which is applied by all business with purpose to maximise their sales. In order to attract large number of customers as well as gain competitive advantages business entity use different tools and techniques such as 7P's of marketing mix and marketing plan. All theses are useful part for the organisation to introduced their services and products to the customers and in the marketplace. Thus, it is effective for the company to achieve long term goals and objectives within predetermined time of period.
You May Also Read: Marketing Essentials of IKEA
REFERENCES
- Babin, B. J. and Zikmund, W. G., 2015. Essentials of marketing research. Nelson Education.
- Cooper, C., 2012. Essentials of tourism. Pearson Financial Times/Prentice Hall.
- Dibb, S. and Simkin, L., 2013. Marketing essentials. Cengage Learning.
- Fill, C. and McKee, S., 2011. Business Marketing Face to Face. Goodfellow Publishers Limited.
- Jones, R. and Rowley, J., 2011. Entrepreneurial marketing in small businesses: A conceptual exploration. International Small Business Journal.29(1). pp.25-36.
- Lamb, C. W., Hair, J. F. and McDaniel, C., 2011. Essentials of marketing. Cengage Learning.
- Moore, G. A., 2014. Crossing the Chasm: Marketing and Selling Disruptive Products to Mainstream Customers (Collins Business Essentials).
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