Marketing and Communication in a Digital World: A Case Study of Coca Cola
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Added on 2023/06/12
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This report discusses the marketing mix of Coca Cola, identifies research elements, and creates a detailed research plan for a digital marketing campaign. It also highlights the strengths and weaknesses of the marketing plan.
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Marketing and Communication in a digital world
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 Overview of the company............................................................................................................3 Elements of marketing mix..........................................................................................................3 Positive and negative aspects of marketing mix..........................................................................4 Identifying the research elements................................................................................................5 Justification..................................................................................................................................6 Creating a detailed research plan.................................................................................................6 Implementation of research..........................................................................................................6 Strength and weakness of marketing plan...................................................................................6 CONCLUSION................................................................................................................................7 REFERENCES................................................................................................................................8
INTRODUCTION Marketing is the process to promote any business products and services to their target market or consumers so that they can be able to increase their sales. Marketing is one of the important factor to be adopted by the company to make the people aware about their products and services and can be able to increase their profitability in wider manner. There are many types or ways of marketing where in today life where digital marketing is one of the most usable marketing source adopted by many companies. In this type of marketing it promotes the organization brand and service through digital communication which involves social media, emails, web-based advertising and such more. The aim of the report is to illustrate the chosen product “Coca Cola” different elements such as marketing mix of first launched of the product, will conduct a marketing research and create a detailed marketing research plan to develop the marketing campaign in a digital world at successful level (Štofová and Kopčáková, 2020). Also, it includes the presentationpartwheretheplannedproductwillberelaunchedbymakingadefinite marketing plan and strategy which will ensure the product or company growth at successful level. MAIN BODY Overview of the company The origin of the product Coco Cola has been done by Dr. John Pemberton on May 8, 1886. The Coco Cola product is a refreshment drink or beverage for the people. Coco Cola company was launched in 1885 April where they reformulated the product name as “ New Coke”. This product is the world's most recognized and famous brand which people like to purchase for their refreshments. Here, performing the seven elements of the marketing mix which will create a better understanding about the first launchedNew Cokeproduct. Elements of marketing mix Marketing mix is a set of marketing tools which help the company to know and understand about their brand and services in the target market areas. Here, mentioning the 7ps of the marketing mix of the Coco Cola brand (Singaram, Ramasubramani and et.al., 2019.). Price:Price is the value a person pays in exchange for the product. The New Coke product has unique pricing structure where they keep their prices higher in summer season and reduces in winter season to maintain the profit and sales.
Product:The company has adopted the strategy where they provide the beverages in different quantities and also manufacture the products for health conscious people such as reduce of sugar and caffeine free products. Place:The company Coco Cola has a strategy of selling their product in two ways direct selling where they sell their product themselves from their store and indirect selling where they deliver their products to the different stores and agencies for obtaining the better margin (Fares, Amr and et.al., 2019). Promotion:The New Coke product has been promoting by the company through different ways such as keeping the bottles in the display shelves at the malls and putting the advertisements at television and digital media. People:People are who puts their efforts in making the brand more successful where the company understands the needs of their employee and provide them satisfaction in different ways such as motivating them, building good relationship and such more. Process:The company adopts the process of making their target customer feel satisfied with their working process as they keep their beverages in the freezer and providing the different quantity bottles which will increases the brand awareness by doing a definite packaging process as well. Physical Evidence:The packaging and chosen colours for the New Coke bottle is very attractive from which they can be able to attract the consumers and made a reputed brand. Positive and negative aspects of marketing mix Positive Adopting the marketing mix model by the company Coco Cola they are able to achieve the positive response and benefits from the New Coke product. The pricing structure and placing elements has been implemented very accurately from which they are able to attract the customers in maximum number and can obtain the effective results. Negative New Coke product is quite attractive for the customer for their refreshment but the promotional strategy of the product is not giving the excellent response to the company as they are required to change and modify their promotional strategies according to the customer demands (Kanesan, Ismail and et.al., 2018).
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Identifying the research elements Primary Method Survey: The term survey is the process of collecting the data and information about the specific product and services through different people. The company Coco Cola implements this type of primary research in their marketing process where they prepare a map to express the product utilization and its benefits from where the target consumers can deliver their opinion and open- ended question has been asked by the people from which the company is able to collect the valid information about the New Coke product. Interviews: The interview is the process of asking and responding the questions related to the brand by people from which the company will get the useful data and information in regard to their product and can get the different suggestions and opinions from the people (Al-Qurabat, and Idrees, 2018). The company Coco Cola adopts this kind of collection which helps them to understand the product strength and weakness. Group discussion:The group discussion among the internal environment where it includes the stakeholders and employees from where the company takes their opinion and suggestion related to the New Coke product so that they can be able to make changes and modification accurately. This kind of data and information collection is adopted by the mentioned company and helps them to obtain the beneficial results. Secondary Method Social Media listening:The social media listening is the process where a company can be able to know and understand their company's sayings, about their brand and services on the internet. In other terms, it is the process of identifying the different sayings of the people at online platform from which the company can be able extract the information from social media platform and can utilize the data in effective order (KANYUNDO, 2020). Company reports:The company reports is utilized by the mentioned company to gather the data and information by doing a specific analysis of market situation within a geographical area from which the company can be able to take decisions according to the reports. Customer emails:The Coco Cola company also adopts the method of collection of data and information through the customer emails from where the company gets the proper feedbacks from the consumer and can put their best efforts in making the company successful.
Justification Choosing of the primary and secondary research helps the company to collect the data and information from which they can be able to determine the success and over all quality of the information. Primary method of data collection can be done in number of ways such as surveys, interviews and secondary method of data collection is collected by another person then the actual user and includes company reports, books and journals. Creating a detailed research plan Implementation of research In the marketing planning research, the primary research method has been utilized as it provides the updated data and information to an individual and organization. The primary method includes the collection of data in effective manner from which the company named Coco Cola also can utilized this research for obtaining the beneficial results (Eisenstein, Garza, and et.al., 2020). This data collection method delivers the honest data and it is authentic from where the individual and company can be able to collect the data by own directly from the original source. This marketing plan is conducted by this method from where the appropriate data can be collected.
Strength and weakness of marketing plan According to the conduced marketing plan, the budgeting part is the strength for the company where they are able to finance the marketing of the brand and product efficiently and can be able to grow themselves and spread out the brand awareness among target audience and people. However, the promotional activity which the company has adopted is quite poor from which this is defined and refereed as their weakness where they have to put their efforts and different promotional methods for promoting their brand and can obtain the successful results. CONCLUSION The report has concluded the importance and brief about the marketing and its element which can provide a beneficial result to the company. The mentioned company has reformulated their product in the market from where it has mentioned the seven elements of the marketing mix and its negative and positive aspects during the product initial stage. Also, it has mentioned the different research requirements to collect valid information and data of the marketing of the company. At last, it has performed a marketing research plan and discussion about the strength and weakness of the research planning in relation to product launch.
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REFERENCES Books and Journals Al-Qurabat, A.K.M. and Idrees, A.K., 2018. Energy-efficient adaptive distributed data collection method for periodic sensor networks.International Journal of Internet Technology and Secured Transactions. 8(3), pp.297-335. Eisenstein, E.L., Garza, and et.al., 2020. eSource-Enabled vs. Traditional Clinical Trial Data Collection Methods: A Site-Level Economic Analysis. InDigital Personalized Health and Medicine.(pp. 961-965). IOS Press. Fares, A.E.R., Amr, A., and et.al., 2019. A Study on the Key Factors Influencing International Franchisors in Egypt. (Applied On Hype)(Coca-Cola Company as a role model). Kanesan, S., Ismail, N. and et.al., 2018. Identifying Market Segments andTargets forMarketing StrategyPlanofCoca-ColaCompanyinMalaysia.InternationalJournalof Business and Management Invention.7(4), pp.77-80. KANYUNDO,M.,2020.MARKETINGBEYONDOFFERINGPRODUCTSAND SERVICES. Singaram, R., Ramasubramani, A., and et.al., 2019. Coca Cola: A study on the marketing strategies for millenniums focusing on India.International Journal of Advanced Research and Development.4(1), pp.62-68. Štofová, L. and Kopčáková, J., 2020. The Competition Strategy between Coca-Cola vs. Pepsi Company.Calitatea.21(179), pp.40-46.