Marketing Strategy & Big Data Analytics

This marketing strategy assignment examines two leading beverage companies, Coca-Cola and PepsiCo. It delves into their respective marketing strategies, identifying key strengths, weaknesses, opportunities, and threats (SWOT analysis). The assignment further explores how these companies leverage big data analytics to enhance their marketing efforts, emphasizing the role of customer insights and data-driven decision-making in shaping their competitive advantage.

MARKETING INTELLIGENCE
STUDENT NAME:
STUDENT ID:
SUBJECT NAME:
PROFESSOR NAME:
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Table of contents
Introduction......................................................................................................................................3
Task 1: Understanding of the buyer behaviour along with the purchase decision making process 3
1.1 The stages of making a purchase decision.................................................................................3
1.2 Consumer buying behaviour theories........................................................................................4
1.3 Explanation of the factors affecting buyer behaviour................................................................5
1.4 Evaluation of the relationship in between the corporate image, brand loyalty and repeat
purchasing........................................................................................................................................6
Task 2: Use of different market research techniques for Coca cola................................................7
2.1 Evaluation of the various market research techniques..............................................................7
2.2 Usage of the secondary data in order to achieve the market research objectives......................8
2.3 Assessment of the validity and reliability of the market research findings...............................8
2.4 Preparation of the market research plan....................................................................................8
Task 3: Assessment of the market size and the future market demand.........................................10
3.1 Assessment of the market size and trend of Coca-Cola..........................................................10
3.2 Competitor analysis for Coca-Cola.........................................................................................10
3.3 Opportunities and threats for Coca Cola for a new product or service...................................11
Task 4: Ability to measure the customer satisfaction....................................................................11
4.1 Evaluation of the customer response assessment technique....................................................11
4.2 Customer satisfaction survey...................................................................................................11
4.3 Review of the survey...............................................................................................................18
Conclusion.....................................................................................................................................18
Reference list.................................................................................................................................19
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Introduction
Marketing intelligence is the proper set of information that is relevant to the particular
organisation’s market. It also gathers and analysed those set of information in order to proper
decision making purpose. According to Fan et al. (2015), it is mainly considered to be the
process which gathers the set of proper information from the organisation's external
environment. In order to conduct the study, Coca-Cola has been chosen. The main aim of this
study is to understand the consumer buying behaviour along with the proper purchase decision
making process. Along with that, it also evaluates the use of different market research techniques
that are used by Coca-Cola. In addition to that, the study also assesses the market size along with
the future trend of Coca-Cola Company.
Task 1: Understanding of the buyer behaviour along with the purchase
decision-making process
1.1 The stages of making a purchase decision
The purchase making decision mainly consists of five different stages. These are described
below:
Figure: Process of making purchase decision
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(Source: Cacciolatti and Fearne, 2013, p.21)
Recognition of need
Cacciolatti and Fearne (2013) stated that the purchase making decision takes place when there is
the need of a particular thing. The customers need to purchase something whenever they really
need to have that thing. This is considered to be the first phase of the decision-making process.
Search for the information
Sometimes the customers are not able to find out the proper information regarding the product
that they want to purchase. Sometimes after buying the products, they get unsatisfied. Therefore,
they mainly use the search engines in order to search for the proper information of the particular
product that they want to have.
Evaluation of the substitutes
After going through a successful search process, the customers have an ample amount of choice
of their products (Kanwal et al. 2017). Then they can easily compare the same products from the
different organisations in terms of price and quality. Form that evaluation they can easily find the
alternative products.
Purchase decision
After evaluating the substitute products, the customers are now able to select a product from the
list of their alternatives. The decision needs to be based on the proper evaluation of the
alternative products.
Purchase evaluation
After using the particular product, the customers came to know about the actual product quality.
Albayrak et al. (2013) said that if the quality does not satisfy the customers, then they shift from
that organisation to the other organisation.
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1.2 Consumer buying behaviour theories
There are several consumer buying behaviour theories in terms of the individual market. These
are described below:
Cultural theory
The impact of the cultural values easily affects the consumer buying behaviour (Khare, 2014).
The values and the beliefs of a particular persona can be reflected by that person’s culture. The
personality of the people mainly drives them to buy those things that suit their culture and also
match with their values and beliefs.
Internal theory
There are certain customers who love to buy different products and also want to compare the
product with the alternative options. Yavuz and Toker (2014) stated that their personality
encourages them to buy those kinds of product which can meet their expectation and satisfy their
needs. Buying of a particular product can be greatly influenced by the lifestyle of the person.
Along with that, the customer can also get influenced by the product which is bought by another
person.
Environmental theory
The environment also affects the buying behaviour of the customer. The buying behaviour of the
customer mainly depends on the environment from where the customer belongs to. The place
from where the person belongs plays a significant role in his or her buying decision-making
process.
Generic theory
This is one of the most important theories of the customer buying decision-making process. In
this phase, the buyers recognise their actual needs and based on the need they search for the
products and the alternatives of the products. They mainly investigate the aspects such as the
price of the product along with its quality (Saeidi et al. 2015). Thereafter, they decide to buy the
product from the suitable place with a suitable price.
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1.3 Explanation of the factors affecting buyer behaviour
There are certain factors that affect the buying behaviour of the customers. These are
Social
The social factors immensely affect the buying decision of the customers. The customer can buy
the products which were bought by another person or may search for a proper alternative to the
product. The person needs to satisfy his or her needs after buying the particular product.
Cultural
According to Sleep et al. (2015), the people who belong to the different cultural background
would look for the different kind of products. Therefore, it can be said that the cultural factor
also affects the buying behaviour of the customers. The culture mainly reflects the diversification
in the product line of an organisation.
Personal
The buying behaviour tends to differ from person to person. The need of every people is not
same. It mainly depends on some variables such as the family background, income, occupation
of the person.
Psychological
The psychological difference of the people also affects the consumer buying behaviour. It mainly
depends on the different sources of learning, motivation along with the perception of that person,
beliefs and the attitude.
1.4 Evaluation of the relationship in between the corporate image, brand
loyalty and repeat purchasing
The brand loyalty mainly signifies the dedication of a particular person or a group of people
towards a certain brand’s product or service. The customers who tend to follow the same brand
and never look for any alternative brand are the loyal customers of that particular brand. On the
other hand, the corporate image symbolises the picture that is related to the psychology of that
particular brand. Han and Hyun (2015) said that the organisations need to create a proper brand
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image in order to sustain and have a large customer base in the market. Based on the good
corporate image the organisations can easily grow in the competitive market and make their
competitors lag behind them. Along with that, the repeat purchasing means the customers tends
to buy the products or the services from the same place because of they very much like the
service or the product of the company. The repeat purchasing is more or less similar to the
concept of brand loyalty; however, it differs in one aspect that the customers can tend to follow
another organisation if the existing organisation fails to satisfy them with their needs and
expectations.
Task 2: Use of different market research techniques for Coca-cola
2.1 Evaluation of the various market research techniques
The process of market research comprises various techniques. These are described below.
Survey
The survey is the process through which Coca-Cola can easily gather the knowledge regarding
the response of the customers. The survey can be done both via online mode and offline mode. It
can contain both open and close ended questions. This can easily provide Coca-Cola with a brief
overview of the customer's perception in the market regarding their products or their service.
Personal interview
Face to face interaction with the customers can also help Coca-Cola to have knowledge about the
market. In this process, the interviewer can capture the facial expression of the interviewee
which is also important for the organisation in order to improve the quality of the product and the
service of the organisation. Along with that, through personal interviews, the organisation may
also gather some suggestions regarding the betterment of the organisation.
Field trails
Whenever the organisation launches a new product in the market, they place those products in
some selected stores and gather the feedback from the customers. The feedback helps the
organisation to fill up the loopholes of the product’s quality.
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2.2 Usage of the secondary data in order to achieve the market research
objectives
According to Hollensen (2015), the secondary data that are used in the market research are the
different internet sources along with the libraries, the annual report of the organisations. These
data can help the organisation to have a brief overview of the company’s position in the overall
competitive market. Along with this, these data can also be useful in order to conduct a
quantitative analysis of the organisation's progress. However, the data that are collected from the
different customers would not be considered in this case. Those are considered as the primary
data sets.
2.3 Assessment of the validity and reliability of the market research findings
The first criterion of the market research is the reliability (Chernev, 2015). It is mainly the
measurement of the consistency level of various scores over a longer period of time. The
reliability across samples and the reliability across time are the two types of reliability that can
be considered in the case of market research. The reliability across the time is the result of the
fact that whether the customers are getting the same result if the same study is done in some
different time. On the other hand, the reliability across samples is the result of the fact that
whether the result is same if the sample is being used in different time period.
On the other hand, product validity is the concept that is also very much popular in terms of
market research. The internal and the external validity are the two types of validity that are used
in the market research. According to Entezari et al. (2014), the internal validity signifies to the
experiments where the conclusion can be drawn on the basis of some cause and the effects of the
proper relationships. On the other hand, the external validity refers to the study that is done
outside the organisation. This is much reliable for the organisations.
2.4 Preparation of the market research plan
A proper market research plan can be helpful for Coca-Cola Company in order to have a
competitive advantage over their competitors. The steps can be described as follows.
Identify the problem regarding the marketing
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Identification of the proper problem is the mandatory part of the proper market research plan.
Coca-Cola Company needs to identify their actual problems and based on that problem they need
to set out their plans for the marketing.
Statement of the research objective
Coca-Cola Company needs to understand the problems properly and the statement form of the
solutions of those problems can be defined as the research objectives.
Planning for the design of the research
After setting the objective Coca-Cola Company needs to follow certain plans that can help them
in order to achieve the success in the market. Shostack (2017) said that the proper planning can
easily lead them to the success in the competitive market. They need to decide whether they
follow the primary data set or the secondary data set. Along with that, they also need to derive
the proper way of analysing the data that can be helpful for them.
Planning for the sample
Deciding the sample size is another aspect that Coca-Cola Company needs to take into account if
they are planning for a survey.
Collection of data
Coca-Cola Company needs to apply both the primary and the secondary data collection in order
to properly conduct the marketing plan. This can lead the plan in the more authentic way.
Processing and analysing of the data
The analyst of Coca-Cola Company needs to analyse the gathered data in a proper way and based
on the analysis the organisation can derive such improvements that might be necessary for them.
Formulation of the conclusion
After processing the above-mentioned steps, finally, the Coca-Cola Company needs to conclude
the thing and based on the decision made by the manager they need to implement those works
accordingly.
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Task 3: Assessment of the market size and the future market demand
3.1 Assessment of the market size and trend of Coca-Cola
Coca-Cola Company is the largest beverage serving and manufacturing company. They are
serving people all across the world since 1886. In 2014, the company has the revenue of
US$45.998 billion which was decreased by near about 4% in the next year (Company et al.
2017). The cause of the decrease was the major challenges from other beverage companies.
However, they have increased their profit level by 3.6% in 2015 which touched US$7 billion
(Company et al. 2017). Coca-Cola Company is planning to launch some new products in the
market in order to provide a tough competition to their competitor. They have properly
understood the fact that what the customer needs are. Based on those needs the organisation have
decided their strategies that can be helpful for the organisation in the upcoming days.
3.2 Competitor analysis for Coca-Cola
Pepsi Co is the largest competitor of Coca-Cola Company. The competitive analysis can be done
on the basis of the market share of the companies along with the strategies, market positions,
strengths and the weaknesses.
Currently, Coca Cola Company is the largest beverage company in the world. They own the
production sites along with the distribution centres and the proper telecommunication channels.
Their current asset is US$90.093 billion and they have employed near about 1 million employees
all around the world (Company et al. 2017). In addition to that, the company strongly advertises
their products through proper marketing in the diversifying market scenarios.
On the other hand, Pepsi Co also has a good amount of market share with ample amount of
employees. However, they have some weaknesses such as the smaller market share in
comparison to the Coca-Cola Company. Along with that, they also possess weaker brand loyalty
(Pepsico.com., 2017). However, they also have the opportunity to adopt the current market trend.
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3.3 Opportunities and threats for Coca Cola for a new product or service
Coca-Cola Company has thought of launching a new diet soft drink in the UK market. In order to
analyse the market scenario, they have gathered the opportunities along with the threats. As they
are one of the biggest brands in the beverage industry, therefore their brand image would help
them to launch the product. Along with that, they may also reduce the price of the new item in
order to take the competitive advantage over their rivals (Cravens and Piercy, 2016). However,
there are some threat elements regarding the launch of the product. The customers are changing
their demands over their soft drink preferences. In addition to that, the tough competition from
Pepsi Co also needs to be faced by them. Along with the Pepsi Co, there are so many local
brands that have the same product at relatively low price than Coca-Cola Company. Therefore,
Coca-Cola Company needs to take these certain factors into their account before launching the
new soft drink.
Task 4: Ability to measure the customer satisfaction
4.1 Evaluation of the customer response assessment technique
According to Entezari et al. (2014), the response from the customers can be measured through
various different steps. The organisation can perform a survey in order to take the response from
the customers. The survey process mainly helps them to gather the valuable feedback from the
customers and based on that particular feedback the company can design their product line or
choose their target market. Along with that, the face to face interviews can also be done in order
to capture the facial expression of the customers. The customers can provide some valuable
suggestions to the company which they can utilise in order to have a competitive edge over their
rival organisations.
4.2 Customer satisfaction survey
Coca-Cola Company has distributed a survey questionnaire to 60 customers in order to receive
their feedback regarding the fact that whether they are satisfied or not by the products of the
company. From 60 questionnaires, only 47 have responded properly.
Q.1 How frequently you like to buy the products from Coca-Cola Company?
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Options Percentage of the
response
Number of
respondents
Total number of
respondents
Daily 44.68% 21 47
Thrice in a week 25.53% 12 47
Twice in a week 17.02% 8 47
Once in a week 12.76% 6 47
Table 1: Frequency of buying the products
(Source: created by self)
Daily Thrice in a week Twice in a week Once in a week
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
45.00%
50.00%
44.68%
25.53%
17.02%
12.76%
Frequency of buying the products
Figure 2: Frequency of buying the products
(Source: created by self)
Findings:
It is found in the survey that the people tend to have the products of Coca-Cola Company more
frequently. It signifies the market capture of the organisation.
Q.2 Which product of Coca-Cola Company you like the most?
Options Percentage of the Number of Total number of
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response respondents respondents
Diet coke 40.42% 19 47
Coca cola 36.17% 17 47
Coca cola zero 19.14% 9 47
Coca cola life 4.25% 2 47
Table 2: Products of the company
(Source: created by self)
Diet coke Coca cola Coca cola zero Coca cola life
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
45.00%
40.42%
36.17%
19.14%
4.25%
Products of the company
Figure 3: Products of the company
(Source: created by self)
Findings:
From the above survey, it is found that people like the diet coke of the company. However, the
normal coca cola is also appreciated by the customers. As the customers are health conscious,
therefore they mainly attract towards the diet product.
Q.3 What is your preferred feature of Coca-Cola products that drives you to select the
brand over others?
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Options Percentage of the
response
Number of
respondents
Total number of
respondents
Taste 55.31% 26 47
Price 25.53% 12 47
Quality 14.89% 7 47
Safety 4.25% 2 47
Table 3: Feature of the products
(Source: created by self)
Taste Price Quality Safety
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00% 55.31%
25.53%
14.89%
4.25%
Feature of the products
Figure 4: Feature of the products
(Source: created by self)
Findings:
The taste of the product is the most attractive feature of the coca cola company. Along with that,
the price is also a factor that attracts the customers from the rival organisations.
Q.4 Have you ever done any complaint regarding products of Coca-Cola Company?
Options Percentage of the Number of Total number of
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response respondents respondents
Yes 17.02% 8 47
No 65.95% 31 47
Not yet 17.02% 8 47
Table 4: Complaints regarding the product
(Source: created by self)
Yes No Not yet
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
17.02%
65.95%
17.02%
Complaints regarding the product
Figure 5: Complaints regarding the product
(Source: created by self)
Findings:
Till now Coca-Cola Company has registered a very low amount of complaints regarding their
product. As the customers are somehow satisfied with the product of the company, therefore the
numbers of complaints are less.
Q.5 What is your suggestions regarding their existing products?
Options Percentage of the
response
Number of
respondents
Total number of
respondents
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Make the taste better 29.78% 14 47
Less price 51.03% 24 47
Proper bottling 6.38% 3 47
Proper CSR activity
through the bottle
12.76% 6 47
Table 5: Suggestions to Coca-Cola Company
(Source: created by self)
Make the taste
better Less price Proper bottling Proper CSR
activity through
the bottle
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
29.78%
51.03%
6.38%
12.76%
Suggestions to Coca Cola Company
Figure 6: Suggestions to Coca-Cola Company
(Source: created by self)
Findings:
It found from the survey that most of the people want the price of the coca cola products to be
less. Some of the products of Pepsi Co are cheaper than the coca cola company. That is why the
loyal customers of the company want the price to be cut down.
Q.6 How far you are satisfied with the product of Coca Cola Company?
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Options Percentage of the
response
Number of
respondents
Total number of
respondents
Strongly satisfied 51.03% 24 47
Satisfied 36.17% 17 47
Neutral 2.12% 1 47
Dissatisfied 6.38% 3 47
Strongly dissatisfied 4.25% 2 47
Table 6: Level of satisfaction
(Source: created by self)
Strongly
satisfied Satisfied Neutral Dissatisfied Strongly
dissatisfied
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
51.03%
36.17%
2.12%
6.38% 4.25%
Level of satisfaction
Figure 7: Level of satisfaction
(Source: created by self)
Findings:
From the entire survey, it is found that the ample amounts of customers are very much satisfied
with the organisation's product line. However, in some of the sectors, they want the company to
grow more in order to have the competitive advantage over their rivals.
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4.3 Review of the survey
The entire survey mainly describes the advantages and the loopholes of the organisation. This
particular survey may help the organisation to work on their weaknesses and also strengthen their
advantages. The customer demand is also reflected in the survey. The organisation needs to
understand those demands and needs to implement a proper way to meet those demands.
Conclusion
The entire study mainly focuses on the different marketing aspects of the Coca-Cola Company.
The study comprises of the areas in which the company can upgrade themselves and what are the
areas where they need to be very aware of their competitors. Along with that, the study provided
a detailed description of the opportunities and threats regarding the launch of a new product.
Moreover, the customer satisfaction survey also provided the company with ample amount of
knowledge that what are the areas that need to focus in order to enhance the customer
satisfaction.
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