Marketing & Communications in a Digital World - Desklib
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This report by Desklib covers the marketing mix of Coca Cola, primary and secondary research methods, and relaunching strategies. It includes a critique of the research and recommendations for digital and traditional marketing. Suitable for marketing and communications courses.
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Marketing & Communications in a Digital World
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Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY..................................................................................................................................3 Part One...........................................................................................................................................3 Marketing of mix of the coca cola...............................................................................................3 Part Two...........................................................................................................................................5 A) Three different primary methods and three secondary sources..............................................5 B) Explaining why these methods are useful than other methods along with nature of each method and how they are helping for different reasons..............................................................5 Part Three.........................................................................................................................................6 a) Plan your research...................................................................................................................6 b) Implement your research.........................................................................................................6 c) Critique your research.............................................................................................................7 Part Four........................................................................................................................................11 CONCLUSION..............................................................................................................................19 REFERENCES................................................................................................................................1 Survey - Questionnaire................................................................................................................2 Interview - Questionnaire............................................................................................................3
INTRODUCTION Marketing mix is a strategic tool of the company which is used to increase the brand value of the company by using sets of actions or tactics in the competitive market. The company can also use primary and secondary data as its marketing tool. Primary data refers to the first-hand information. Secondary data is the data that is available easily as it was collected bysomeone else and these are copy of the original data (Panchenko, and Samovilova, 2020). The coca cola is the multinational organization that deals in the beverages, and whose headquarter is in Atlanta. It is a corporation dealing in the manufacturing and retailing of the non-alcoholic beverages (Alemany, L., 2019). It produces sugary drink, that are available at all the countries of the world. The report discusses about the marketing mix of the coca cola company. The negative and positive aspect of the element of the marketing mix. Furthermore, it provides the research of the company so, that it can relaunch its products in the market. For doing research there are two sources that is primary and secondary methods. After implementing the research method there is a brief description about the research plan (Thabit, and Raewf, 2018). MAIN BODY Part One Marketing of mix of the coca cola The marketing mix of the coca cola is described below that is: Product mix The coca cola has used a wide range of products for its product mix. The products coca cola is offering are: coca cola, diet coke, dasani, minute maid, fanta, sprite and many more. This is available in many sizes and packaging. Price mix The pricing strategy of the coca cola is different from others as it uses 2nddegree pricing description. That means differentiating the products on the basis of the pricing. Place mix
It has cover the market in almost 130 countries and it is in existence for more than 130 years. The place strategies of the coca cola is that it produces its goods at one place and distributes it to the different countries across the world. Promotion mix The marketing strategies used by the coca cola has set a benchmark for the other companies in this industry. It uses aggressive marketing techniques that, it advertises its products on social media. Packaging mix To make it different from the other products it has used brand logo that is affixed on the every packaging of the products. Person mix The coca cola has initiated various monetary and non monetary rewards to keep their employees motivated. Process mix The process used by the company is competitive supply chain to optimize the use of the infrastructure and to promote sustainability. Positive and negative aspects of the marketing mix element 1.Product mix: Product mix of the coca cola has the positive influence on the market as the product is available in the every shape and size. Because of which consumer can buy the product according to their preferences. 2.Price mix: Coca cola uses price discrimination strategy. That has created negative image of the coca cola company. As same products are sold in different market at the different price. 3.Place mix:The company has no established outlet across the world. It sells it products through the different distributors. Because of which it does not have any targeted section of the customer. 4.Promotion mix: The promotional techniques of the coca cola has gained the highest attention of the audience. As it sponsor its product in the cricket match to promote its brand at the global level. It has helped the coca cola in increasing its sale globally. 5.Packaging mix: The logo of the coca cola is different from that of others, that has helped the company to protect its copyright for its product.
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6.Person mix: By using different motivating techniques the company has ensured to retain its employees for a long period. 7.Process mix:Hidden process of producing the products has raised many questions on the company. Many competitors have claimed that the mixes chemicals in its products. Part Two A) Three different primary methods and three secondary sources For the relaunch of the product which is Coca Cola in the market and to solve the marketing problem from the first launch there are certain methods which are primary and secondary within this research to be conducted successfully. Theprimary methodsare mentioned as – Survey, Interview and Observation. Surveyin the primary method is done by framing the questionnaire by providing the list of questions for a particular group of people. The respondents are asked certain questions which they answer to the researcher conducting the research. The survey will be conducted of the 10 managers (Collin and Salmon, 2020). Interviewmethod is the open-ended method in which the questions are framed and the respondents answer these questions as per their length of information. The interview will be done of the 50 customers. Observationis the qualitative research technique where the researcher observes the behaviour of participants in the natural situations. For observation, behaviour of customers is observed. Thesecondary sourcesmentioned are – Books, Journals and Scholarly Articles. These are some of the secondary sources which are used within the research (Waring, 2021).This helps in understanding the aspects as to how effectively and in appropriate manner the research information is being collected. B) Explaining why these methods are useful than other methods along with nature of each method and how they are helping for different reasons The primary methods which are taken such as survey, interview and observation are useful than focus groups and other primary methods because they help in knowing that how effectively and in appropriate manner the research is being conducted. Interviews, surveys and observations
helps in understanding the major aspects of how the research is being carried out successfully for the relaunch of the product Coca Cola. Thenature of each methodis being described as below – Surveysfrom the manager is being taken which represents that the survey is quantitative in nature and tis helps in knowing that the questionnaire is framed for the research to be undertaken at large scale. Interviewis qualitative in nature which helps in understanding the customers behaviour and concern for the research which is being conducted (Peña Bonet, Lochmuller and et.al., 2018). Observationis also qualitative in nature which helps in understanding the perception and changes in the needs of customers in the market. Secondary methods such as books, journals and scholarly articles are being undertaken at large scale and with the help of these sources there is lot of information which is gathered for the research which is being undertaken at large scale. The reasons these methods are used are that they are helping in the research such that the changes in the perception and needs of the customers are known by taking their interview and observing the trends in the market for the product. Part Three a) Plan your research Research Brief –The research is being conducted for the successful relaunch of Coca Cola as a product and solve any marketing problem from the first launch. Research Objectives – To understand the customer behaviour in the market. To analyse the changes in the customer needs for Coca Cola to relaunch in market. b) Implement your research Bothinternalandexternaldatawillbecollectedfortheresearchwhichisbeing undertaken. Internal data includes the information and statistics of the company and for the research at large scale. The internal data bases are collected for the research which helps in knowing the internal data of the organization. The company also uses the external data which is being collected for the research being undertaken successfully. The external data includes the
market research and any information which is being collected outside the organization. Both primary and secondary data methods will be used for the research (Camilleri, 2018). Usefulness and appropriateness of the databeing collected are – The usefulness of the primary data will help in collecting the information through the framing of survey, interview and observation which will help in gathering the perceptions and needs of the customers for the relaunching of the product. Secondary data will also help in providing the information and data from the books, journals and different articles being studied so that the customer behaviour is being analysed for the changes to be introduced in the relaunch of the Coca Cola. Timeline Activities / Weeks12345678910 Research topic selection Designing the research objectives Drafting questionnaire Concluding the findings Recommendations Report preparation Final submission c) Critique your research Primary and Secondary Research - Theme 1 - Awareness of the relaunch of Coca Cola
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Interpretation –It has been interpreted from the above analysis that 50 out of 20 individuals are aware of the relaunching of Coca Cola. The other 50 out of 20 individuals are not aware of the relaunching of Coca Cola. The other 10 individuals are not sure about the relaunching of the product. Theme 2 - Social media sites you are aware of Interpretation –It has been interpreted that 50 out of 30 individuals are aware of the social media site Instagram. The other 10 individuals are aware of Facebook as the social media site. The other 10 individuals are aware of the twitter usage as the social media site. Theme 3 - Excitement about the relaunching of the Coca Cola as product
Interpretation –It has been interpreted from the above analysis that 50 out of 40 individuals are excited about the relaunch of the product. The other 5 individuals are less excited about the relaunch of the product. Therefore, it has been analysed that the relaunch is important for analysing the market. Theme 4 - Features making you buy the product Interpretation –It has been interpreted from the above analysis that 50 out of 20 individuals are wanting to have the feature of quantity to buy the product. Along with this, 20 individuals want that the product should have the features of taste so that they can buy the product. The other 10 individuals are engaged in having the price as their feature in the product. Theme 5 – Wanting Company to providing variety of products
Interpretation –It has been interpreted from the above analysis that 30 out of 50 individuals want the company to provide variety of products. The other 50 out of 10 individuals want the company to provide products with different varieties. The rest 10 individuals among 50 want the variety of products by Coca Cola. Strengths and weaknesses of marketing planare – Strengths –There is large market share in the marketing plan which is being displayed in the market. There is personal relationship with customers. It provides the information regarding the potential market. Weaknesses –The time gap makes the research irrelevant and this creates problem. It is not the problem-solving technique but helps in aid to solve the problem in the marketing research plan. Research Findings –It has been found that the customers are aware of the relaunching of Coca Cola. It has also been found out that the customers are excited for the relaunching of Coca Cola. They are observing the changes which are taking place for the solving the marketing problems at large scale within the market structure (Nunes, Ferreira, Freitas and et.al., 2018). Recommendationsondigitalandtraditionalmarketingarebeingtakeninto consideration with the help of collecting knowledge from the customers and the managers which should address and allow the market to acknowledge the important changes which are taken into consideration at large scale within the market.
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Slide 2 The target audience suitable for the product are – young age group people (50 customers) from age 15 – 30. By targeting the audience, they will be able to create value for the brand and the relaunch of the product will be made successful. It becomes very suitable for the audience when they are suitably targeted at large scale. Therefore, there are certain aspects as to how effectively and in appropriate manner the relaunching is being done at large scale. The product then will analyse and identify the aspects as to how effectively the relaunching can take place. Thus, targeting helps in ensuring the major changes observed in the market.
Slide 3 Price –Price is defined as the cost of the product which the customers pay. When Coca Cola will relaunch its product in the market it will help the customers to know that what is the price which is to be paid for the product. The negative impact of price is that some customers may find the price of relaunching the product very costly.
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Slide 4 Promotion –The Coca Cola is promoting the relaunching of the product and it services with the help of social media sites which are – Instagram, Facebook and Twitter. With the help of this, the company is able to gather most of the customers and make them aware of the relaunching of the product which is Coca Cola.
Slide 5 Direct marketingis also an element which helps in understanding the aspects as to how the marketing techniques of direct marketing the products can be done in an appropriate manner. Personal sellingis the most appropriate and easy way as to how the products can reach to the customers. With the help of personal selling, the customers will be able to take concern of the product when it will be launched in the market. The promotional mix elements are appropriate such that it helps in knowing that how effectively the selling of product will be done in the market and this will enable the relaunching of the product to be made easy at large scale in the market. With the help ofproduct lifecycle, it will be analysed that how effectively the relaunching of Coca Cola can be done at large scale. There are dour major product lifecycle stages which are explained below –
Market Introduction and Development–A new market strategy will be developed which will help in analysing and knowing what are the marketing trends which are to be followed at large scale. It will help the relaunching of Coca Cola appropriately with the help of marketing development. Market Growth –With the help of market growth, growing demand will be known as how the product will take charge of the relaunching of the product. Market growth will be analysed as to how effectively the relaunching can be done effectively. Market Maturity –It is established so that the cost of producing and marketing the existing product will decline. The market becomes mature when the product will be relaunched in the market and will gain a certain height. Market Decline –The Coca Cola will engage into having the market decline as there can be aspects of how effectively and in appropriate manner the changes will take place when the situation is of relaunching. The product will be in market on 6 months as it completes the whole research which has been undertaken.
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Slide 7 Taddese, G., Durieux, S. and Duc, E., 2020. Sustainability performance indicators for additive manufacturing: a literature review based on product life cycle studies.The International Journal of Advanced Manufacturing Technology. 107(7). pp.3109-3134. Thabit,T.andRaewf,M.,2018.Theevaluationofmarketingmixelements:Acase study.International Journal of Social Sciences & Educational Studies.4(4). Tyulin, A. and Chursin, A., 2020. The New Economy of the Product Life Cycle.Springer Books.
Slide 8 CONCLUSION The report included part one which were the elements of marketing mix. The part two explained the research requirements which enabled the aspects as to how effectively the research was undertaken. The part three helped in providing information about the detailed research plan which was conducted. The fourth part helped in knowing the marketing plan which was for the company Coca Cola.
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REFERENCES Books and journals Camilleri, M.A., 2018. Strategic planning and the marketing effectiveness audit. InTravel marketing,tourismeconomicsand the airlineproduct(pp. 117-135). Springer, Cham. Collins,W.andSalmon,N.,2020.UsingPrimaryandSecondarySourcesforYour Research.The Woman in White: Grangerized Edition. Nunes, R.H., Ferreira, J.B., Freitas, A.S.D. and et.al., 2018. The effects of social media opinion leaders’recommendationsonfollowers’intentiontobuy.Revista Brasileira de Gestão de Negócios.20. pp.57-73. Panchenko, L. and Samovilova, N. 2020. Secondary data analysis in educational research: opportunities for PhD students. InSHS Web of Conferences(Vol. 75, p. 04005). EDP Sciences. Peña, A., Bonet, I., Lochmuller, C. and et.al., 2018. A fuzzy credibility model to estimate the operationalvalueatriskusinginternalandexternaldataofrisk events.Knowledge-Based Systems.159. pp.98-109. Thabit, T. and Raewf, M. 2018. The evaluation of marketing mix elements: A case study. International Journal of Social Sciences & Educational Studies.4(4). Waring, S.M., 2021.Integrating primary and secondary sources into teaching: The SOURCES framework for authentic investigation. Teachers College Press. Online references Alemany,L.,2019.Coca-Cola’sMarketingMix.[online]Availablethrough: <https://lauradigitalmarketing.wordpress.com/2019/11/16/coca-colas-marketing-mix/> 1
Survey - Questionnaire Q1. Are you aware of the relaunch of Coca Cola? a) Yes b) No c) Not Sure 2
Q2. What are the social media sites you are aware of? a) Instagram b) Facebook c) Twitter d) All of above Q3. Are you excited about the relaunching of the Coca Cola as product? a) Yes b) No c) Not Sure Q4. What are the features which make you buy the product? a) Quantity b) Taste c) Price d) All the above Q5. Do you want the company to provide variety of products? a) Yes b) No c) Neutral Interview - Questionnaire Q1. What are the strategies of Coca Cola for relaunching the product in the market? Q2. What are the challenges Coca Cola is facing after its first launch? Q3. What are the marketing problems which are affecting the Coca Cola? Q4. Recommendations for effective relaunch of the product of Coca Cola. 3