Marketing and Communication in Digital World: Analysis of Marketing Mix and Research Methods for Coca-Cola's New Coke
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This report analyzes the marketing mix of Coca-Cola's new product, New Coke, and the positive and negative effects of its elements during the initial launch. It also identifies suitable research methods for developing a successful marketing campaign in a digital world.
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Marketing and Communication in Digital World
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Table of Contents INTRDUCTION..............................................................................................................................4 TASK...............................................................................................................................................4 Explain all seven elements of marketing mix of the chosen product and also analyse the positive and negative effects of elements of the marketing mix during product initial launch. .4 Identify and select some methods of research then discuss their suitability...............................6 Research must include details to develop a successful marketing campaign in a digital world and after the completion of research you must discuss the strength and weakness of the research.......................................................................................................................................7 CONCLUSION................................................................................................................................8 REFERENCES................................................................................................................................9
INTRDUCTION Digital marketing is basically a media or platform which is used by organization for increasing the sale of their product at maximum level(Carmona and Torres-Toukoumidis, 2021). Due to using various marketing methods strong communication or positive relationship are also build between employee and consumer in long term. The chosen company is Coca-cola for analysing the impact of digital marketing in market. The company was established in 1886 and is headquartered in US. This report will be covered the marketing mix of chosen company and also analyse the positive and negative impact of the elements of the marketing mix during the product initial launch. It also covers to identify the research requirements to prepare for a successful relaunch of your selected products and also use suitable research methods for discussing products suitability. Due to the use of effective digital marketing the popularity of their new product are enhanced easily within low time and the name of their product is new Coke. TASK Explain all seven elements of marketing mix of the chosen product and also analyse the positive and negative effects of elements of the marketing mix during product initial launch Marketing mixis basically a set of actions or methods which is applied by the organization for increasing the popularity and sale of their products in market. In this process totally seven stages are involved which is highly considered by the management of Coca cola before introducing their new product market. Product –In this phase organization are mainly concentrate on enhancing the availability of their product at wide range in different locations. In context to Coca cola, management must always focus on serving their products with unique taste such as new coke etc. to young generations and children's. Because in today time only these two customers are highly consumed the soft drink in various areas. Price –Here organization are focusing on fixing fair and average price in their software drink and other products for attracting the customer in large number. In context to Coca cola, management must keep different prices for new, existing and upcoming products. Because due to keeping different prices in their product risk are highly reduced in their business activities and their productivity are also sustained in long term. The other important point is that they also keep low price in their product such as new coke and diet
coke in initial stage. Because in initial stage large number of consumers are ready to buy their product. Place –Here company are identified reliable and suitable location for selling their product and run their functions smoothly (Chan, 2021). In context to Coca cola, management must establish effective infrastructure in the chosen location. Because when company maintained the effective infrastructure then definitely the coordination their stake holders are strongly developed in long term. Promotion –It means in which way organization popularise their brand image and products in various locations. In context to Coca cola management must use effective marketing strategies such as advertising, digital marketing, direct selling and others. Due to using these strategies their drinks such as new cock etc. are easily sold in large quantity between young generations in short period. People –Here people refer to the workers who are working in the organization and these employees are highly responsible for delivering quality product to customers in time. In context to Coca cola, management must use qualified and passionate workers in their company for keeping good relations with all customer segments effectively. Process –It refer to in which manner services and products are delivered to customers from company and employees (Hysa, Karasek and Zdonek, 2021). In context to Coca cola management must use updated technology for producing their product with various flavours effectively. It also helps to deliver their products to users in right time. Physical evidence –In context to Coca cola, management must use good infrastructure fordeliveringtheirproducttoconsumersinnfastmanner.Infrastructureincludes effective layout and good ambience which leads to increase the visits of customers in their store effectively. Advantages - In aspect of benefits, firstly when company display their product in their store at various locations then definitely their sales and revenue are easily increased at high rate. Secondly, convenience of the customers are also increased in different locations for availing their services and products in low time. Young generations and children's are attracted in large number for availing their product through offline and online mode. Due to the use of digital marketing
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specifications and popularity of new coke are set in the minds of children's and young generations. Disadvantages - In aspect of drawbacks if the place is not suitable for company then definitely the distribution channel are not systematically established between employees (Kumar, Kirpalani and Sharma, 2021). Due to this the product of the company are not delivered to multiple users in time. The other problem is that sometimes company keep high price in their product which is favourable for only upper class people. But it creates negative impact on the performance of company because in this method customers are only limited for organization. Identify and select some methods of research then discuss their suitability Research basically refer to searching of various types of information by the researcher by using various methods. Then after the research the report or output are developed in systematic and creative manner. Close ended questionnaires –It is basically refer to multiple type questions which is prepared by the researcher for analysing the viewpoint of other persons. In context to Cocacola,managementmustaskquestionsfromcustomersabouttheirproduct effectively in the form of feedback. Due to this company easily identified the taste and preferences of users in effective manner. Structured interview –It is a common type of research which is used by researcher and in this process lot of informations are used by individual (Purwanti, 2021). In context to Coca cola management must take reviews of their new coke through online and telephone mode. In this way employees are able to understand the problems of their product which are faced by customers on regular basis. Observations –It is the another type of research technique and here researcher are directly connected with multiple and ask the questions in face to face mode. In context to Coca cola, management must talk directly with customers with help of their employees. Because face to face interaction is a highly effective technique for analysing the behaviour of customer regarding their product like new coke.
Research must include details to develop a successful marketing campaign in a digital world and after the completion of research you must discuss the strength and weakness of the research Overview –Coca cola is a multinational soft drink company and itsheadquarter is situated in America. This company is going to launch new soft drinks in various locations and the name of their new drink isnew coke. The main highlight of this product is that taste and flavours are produced according to the desires and wants of the customers. The main advantage of this drink is that it is really liked by children and young generations. Objectives–Dueto introducingthisproduct inmarketor in differentlocations productivity and work efficiency of company are easily increased (Putri and Hermawan, 2021). The other objective is to maintain strong connectivity and relations with all customer segments for long durations. Due to maintaining strong relations economic stability of the company are sustained in long duration. Delivery outcomes –Due to facilitating best quality to all categories of consumers positive word of mouth are highly spread between public and in market towards company. Due to facilitating best quality new coke drink to users goodwill or reputation of company are strongly developed in their minds. Due to facilitating these type of product market share and revenue of the company are highly increased. Target audience –During the time of launching their new drink in different location their main target audience is youngsters and children's. Because they the most reliable and trustful customers for organization for increasing the sale of the product effectively. I Researchmethods–Themethodwhichusedbycompanyhereiscloseended questionnaire because it is the simplest method for organization to collect customers review. In this process advanced software and equipments are used for receiving the feedbacks of users in fast manner (Rosmalah and Agustianingrum, 2021). According to that reviews company finally decide that in which area this product is highly beneficial. Ethical and further consideration –It simply means that introduce their new product in front of customers ethically with full details in both online and offline mode. In this way customers easily select right product during the time of purchasing.
CONCLUSION After the analysis of above information it is concluded that digital marketing plays very crucial role for reducing distance between company and user. Due to the use of digital marketing effectively sale of company's product such as new coke and other drinks are easily sold at higher rate. Therefore, increasing sale is highly essential for generating the income and performance of employees. Digital marketing also helps the organization to maintain effective communication with customers for long time.
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REFERENCES Books and Journals Carmona, M. A. S. and Torres-Toukoumidis, A., 2021. Analysis of digital marketing strategies for artists during the pandemic.Academy of Marketing studies Journal,25(3) pp.1-12. Chan, N.K., 2021. Political Inequality in the Digital World: The Puzzle of Asian American Political Participation Online.Political Research Quarterly,74(4) pp.882-898. Hysa, B., Karasek, A. and Zdonek, I., 2021. Social media usage by different generations as a tool for sustainable tourism marketing in society 5.0 idea.Sustainability,13(3) p.1018. Kumar, M., Kirpalani, C. and Sharma, R., 2021. An Empirical Research on Attitude and DecisionBehaviourofStudentswithregardtoDigitalMarketing Communication.Annals of the Romanian Society for Cell Biology pp.16629-16636. Purwanti,Y.,2021.TheInfluenceOfDigitalMarketing&InnovasionOnTheSchool Performance.TurkishJournalofComputerandMathematicsEducation (TURCOMAT),12(7) pp.118-127. Putri, K. N. and Hermawan, D., 2021. Digital Marketing Strategy of Creative Consultant during COVID-19Pandemic:aQualitativeApproach.InternationalJournalof Entrepreneurship, Business and Creative Economy,1(1) pp.39-56. Rosmalah, K. and Agustianingrum, S., 2021. Efektivitas Pesan Instagram Ruangguru sebagai Digital Marketing Communication.Jurnal Spektrum Komunikasi,9(2) pp.162-179. Saura, J. R., Ribeiro-Soriano, D. and Palacios-Marqués, D., 2021. Setting B2B digital marketing inartificialintelligence-basedCRMs:Areviewanddirectionsforfuture research.Industrial Marketing Management,98. pp.161-178. Shah, D. and Murthi, B. P. S., 2021. Marketing in a data-driven digital world: Implications for the role and scope of marketing.Journal of Business Research,125. pp.772-779.