Table of Contents INTRODUCTION...........................................................................................................................3 LO 1.................................................................................................................................................3 P1. Roles and responsibilities of marketing functions................................................................3 P2. Roles and responsibilities of marketing to wider organisational context.............................7 LO 2...............................................................................................................................................10 P3. Application of marketing-mix.............................................................................................10 LO 3...............................................................................................................................................13 P4. Marketing plan...................................................................................................................13 CONCLUSION..............................................................................................................................17 REFERENCES..............................................................................................................................18
INTRODUCTION Marketing is a process that is used by the organization to study and manage the relationship with consumer and satisfy their need to retain them. Marketing functions is performed by the company to promote the product and services of organization to full fill business goals and attract and motivate the consumer by different activities to improve sales and higher market share in market place(Campbell, Martin and Fabos, 2018). This is one of the important functional department of an organization. Coca Cola is company is a soft drink manufacturing company that is operating worldwide. Coca Cola is one of the most recognized company around the globe. Coca Cola is a public limited company and it was introduced in year 1892 by John Stith Pemberton as coca cola and the company was introduced by Asa Griggs Candler. Headquarter of company is in Atlanta, Georgia, united states of America. This report is providing brief information of marketing function for Coca Cola company. Key roles and responsibilities of marketing department are explained and evaluated to analyse theirimportanceinorganization.Marketingrolesandresponsibilitiesofdepartmentare explainedwithrespecttocurrentenvironmentofmarketing.Interrelationofmarketing departmentwithotherdepartmentisstudiedinthereporttofinditseffectivenessfor organization. Key elements of marketing department and their relationship with other functional units is also considered in study. The marketing strategy and marketing planning or coca cola is studied to evaluate it for completion of different goals and targets of company. A effective marketing plan is developed for one of product of company and marketing strategy is evaluated on the basis 7 P's of marketing(Steenkamp, 2018). LO 1 P1. Roles and responsibilities of marketing functions Fulfilling customer needs and wants: The main role of marketing department is to understand the needs and wants of the target market. The marketing department of a company analyse the market in order to know the current trends and demand in a market and then accordingly creates marketing strategies(Cacciolatti and Lee, 2016.). Ensure organisation survival: The second most important role which the department has in Coca Cola is that it helps the business to survive in a competitive market. Customer retention is an important factor behind increase of market share by company.
Therefore marketing department helps Coca Cola to attract the customer toward their products. Widen market: Marketers use wide variety of communication tools such as advertising, email, event marketing, promotional campaign etc. As well as also make use of various platforms in order to promote the product such as social media, youtube, print media etc. The promotional programme helps company to build image in a market and create brand awareness. Better product: Marketing department ensure to use a good packaging and labelling in order to attract customers toward the product. Marketing department actively engage in a activity of designing and managing product and introducing various offers and discounts in order to increase sales(Baker, 2016). Creates utility :marketing of products help company to increase utility of product. Here utility refers to the ability of product in order to satisfy the wants of a costumers. The marketer. By using the necessary tactics marketing department makes the product purchase easy. They use the strategies such as introduction of right product at right time to right target audience. Right price: Price is one of the critical element in marketing mix which helps in generating revenue. The marketing department of Coca Cola set such prices for its product which is easily affordable by the various consumer groups. Management of demand: The marketers are experts in creating demand in market as well as analysing demand. The demand can be of many form such as irregular demand, full demand, overfull demand etc. Marketing department of Coca Cola are capable enough in order to handle such demand. Economic growth :Marketers tries to created demand in market which helps in increase in production and distribution activities. As a result of this industrial growth is increased which helps in increasing ,employment in industry. Creation of demand for product also helps in improving living standard of humans which results in economic growth. Dischargesocialresponsibilities:Duetoincreasepressurebygovernmentand environmental degradation almost all the companies including Coca cola is forced to introduce activities contribute to the benefit of society. The marketing department of Coca cola use social marketing for this purpose.
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Face competition: The Coca Cola marketing department helps in maintaining balance between customer expectation. The marketing department of a company timely plan new strategies in order to stay ahead of its competitors(Keegan, , Rowley and Tonge, 2017). Responsibilities of Marketing Different responsibilities of marketing function in organization are related to their role in company. These strategies are listening the customers, track and monitor the competitors in market place, work and brand value, searching new marketing tools for organization, coordinate theeffortsoforganizationwithcompanypartners,innovationcommunicatewithrestof organization, improves the sales procedure, manage marketing budget and plan marketing strategy. Plan Marketing Strategy The basic role of marketing department is to design the strategy for the promotion of company product. This is their responsibility to develop an effective marketing plan for the product of organization(Larson and Draper, 2015). As per the current market conditions they have to develop a plan to make customer aware of the new company product. This is important for the company to performs marketing in effective way to motivate and encourage the customer to buy product of company. These responsibilities of marketing function important for coca Cola to meet sales target. Listening the Customer Needs The customers are the target audience for organization and all the function of marketing department are based on the consumer needs. All the planes made by the organization are designed by keeping need of consumer in mind to make effective and productive plan. To develop high effective plan of marketing they need to know the requirements of consumer. This thing will help them to design various promotional advertisements. Monitor and Track competitors Competitors in the market place also use different promotional methods to perform marketing of their product. To develop plan for marketing they need to know the positioning of the Coca Cola in market place. This can help them to evaluate their mistakes and issues in current marketing policy of company. This also support the organization by reducing the chances of failure for Coca Cola company. Work for Brand Value
The brand value of company is important for their effectiveness of market place. The reputation of company in market lead the organization to success or failure of strategy. If the consumers are not aware of company product then this will lead to less market share of company in market place. To create high market value of company product in market to make good impression on customers and encourage them to by product of Coca Cola. Searching For Marketing Tools there are various tools of marketing are used by the marketing department complete their individual goals and sales goals of company. These tools are used for different functions of marketing department. To improve the actions of department they need to use various new tools to improve their data collection and process(Muralidharan and Raval, 2017). These tools provide better opportunity to organization and marketing department to decide policy for promotion of company product. The tools used by marketing department are divided in three categories that are production management tools, marketing automation tools, and product information management tools. Coordination with Business Partners When organization is performing business in collaboration with other company then it is responsibility of marketing department to make them aware of different specification of company product to ensure their role in organization. This is important for effectiveness of marketing policy for business partners. Introduce Innovation The marketing department is also responsible to introduce innovation to the organization to improve the business process. Generally different type of research is performed by marketing departmenttomakethecompanyawareofvariousmarkettrends.Tomeetthemarket requirementmarketingdepartmentanalysethebusinessstrategyandtechnologyusedby competitor to suggest changes to company to improve the performance of organization in global market. Communicate With rest of Company Marketing department communicate with other people and department in the organization to make them aware of different information collected by them through marketing research (Baker and Saren, 2016). This is important for company to get this information to improve and change their functions for achieving company goals.
Improve Sales Process and Customer The marketing department is responsible to know the feelings of customers about the company to make effective changes to the marketing policy. By making respective changes marketing department try to cover up the profit goals. Prepare Marketing Budget For different activities that are performed by marketing department and for these activities they need to prepare a budget. This budget help them to full fill the requirement of fund for various operation. P2. Roles and responsibilities of marketing to wider organisational context Relation of Marketing department with 1250 Marketing department almost work with all the other department within the organisation in order to analyse the market properly and accordingly set the strategies for pricing, promotion, and selection of appropriate platform to promote the product, their target market etc. The marketing department work with almost all department including finance department, human resource department, customers service department etc. It is necessary that marketing department work closely with all other department in order to achieve organisational goal. The working with different department creates a clear picture for the marketing department to make marketing strategies in order to gain the attraction of customers(Feng, Morgan and Rego, , 201). Human resource department: Marketing and human resource department are not different form each other. When a business need to attract people or convince them it is required that a company market the requirement which looks attractive. The main function of HR department is to recruit right people for the organisation who will contribute to the success of the organisation. The HR department of Coca coal recruit the talented and knowledgeable candidate in the organisation(Noeand et.al., 2017). The department monitor the functioning of all other department and make an effort in order to improve the productivity of different departments. The marketing department in order to have an efficient team who are good is selling or product and promoting product require to work closely with the human resource department. The both department work closely with each other in order to motivate the employees of organisation as well as attracting customers which will enhance the overall performance of the organisation.
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As in this competitive era it is becoming difficult day by day to find right people for the job.Effective marketing can help the company to get right candidate at right time for the right position. Accountdepartment :Accounting department is responsible for managing affairs related to monitoring the sales.Accounting department of a coca cola monitors the financial condition of company. While the marketing department of a company is responsible for managing the sales of a business. Accounting department should work closely with marketing department in order to analyse the current trends in market and accordingly prepare budget for company to support the various marketing activities by the marketing department(Noe and et.al., 2015). The accounting department monitors the sales of a business. Which helps the company to look at the profit earned by a company. As the marketing department has to plan budget for performing various promotional activities such as promotional campaign, designing of packaging and labelling, advertising through print media, electron media etc., therefore both the department should work closely with each other in order to prepare budget for the company promotional activities. The marketing department plans various programmes in order to increase the sales of a company products and services. The department prepares a report inorder to determine that whether the sales strategies has worked or not. Report includes gross sales per campaign, how many customer hits website etc., such type of point help company to determine the success of marketing strategies. Both the department work closely which helps the business in preparing budget for future projects. By analysing the past data the account department can create a budget for a company. Customerservicedepartment:Customerservicedepartmentwithintheorganisationis responsible for maintaining public relation and secondly it helps in retaining customer. The department is responsible for building a healthy relation with the customers. Retaining customer is one of the most important factor for the organisation the reason behind this is that the increase in competition and presence of substitutes results in loss of customers. Therefore it is important that the representative of customer department should built a strong relation with the customers in order to gain their trust and loyalty. Marketing department and customers service department work with each other in order to understand the needs and wants of customer in detail. The customer service department take
Feng, H., Morgan, N.A. and Rego, L.L., 2019feedback from the customers about the products and services offered by the company. The feedback which the company receives help marketing department to understand the concerns of the customer as well as knowing that which type of product they like. Therefore it helps the marketing department of company to design the product accordingly or to make changes in the existing product. The marketing department creates the strategies by knowing that what customer really wants and how they want it. And this is known by conducting a online survey, or by making a call, taking a feedback from customers. Production department :Production department of company converts the raw material into finished products. The production department of organisation set standard for the products. The department monitors the quantity and quality of both finished as well as raw materials. The quality is monitored by almost all employee in the production department. The department also ensures the proper flow of raw materials within the organisation(DeLaGrange, Insurance Lounge Franchise Company, Inc., 2016). The department also ensures to test and design new product and produce prototypes of the final product. The marketing department and production department works closely the reason behind this is that marketing department analyse the market and find out the needs and wants of customers, trend in market, opportunities in market etc., as the demand of the market changes continuously with the rapid change in the business environment. Therefore in order to hold the position in market it become important for the organisation to continuously analyse the market. After proper analysis of market by marketing department production department make the product accordingly. Information technology department :the IT department of a company is responsible for providing automation in the organisation. It implements governance for using networks and operatingsystemintheorganisation.TheITdepartmentisresponsibleformaintaining, designing, supporting and monitoring the information technology infrastructure(Choi and et.al., 2016). Earlier marketing department plays an important role in the success of the organisation but now a days marketing department alone cannot help the company to achieve success. As the use oftechnology is increasing day by day therefore it become essential for every organisation to have IT department within it.
The IT department use big data analytics in order to collect the data of customers. IT department works closely with marketing department in order to created strategies for achieving business objectives. Marketing department and IT department work closely to help the organisation to achieve its objective. The data which has been collected by IT department about the customer is used by marketing department in order to analyse their target customer and to know the what type of products or services customer like. The data which the IT department collects include personal data of customers, Such as age, contact numbers, the site they visited the most etc. It helps the marketing department to clearly analyse their customer. Therefore it can be concluded that the various functions of an organisation work collaborativelywiththemarketingdepartmentwhichhelpsthecompanytoachieveits objectives. LO 2 P3. Application of marketing-mix Comparison of 7P's of Coca cola and Pepsi Product:Coca cola has a large product portfolio which consist of about 500 sparkling brands. The company provides 3900 beverages choices to its customers. The brand has a good strong image in market. The portfolio of company has 21 billion dollars out of which 19 are in low and no calorie choices. Some brand in coca cola portfolio are : Sprite, Diet coke, coca cola zero, coca cola life, Minute maid, Ciel, simply orange(Brownlee, Dmytriyev and Elias, 2017). Pepsi also provides a wide range of beverage, snacks and foods. The company has about 22 different brands which include Pepsi Cola, Mountain Dew, Tropicano, Diet Pepsi, 7 UP, Lay's and other international brands. The portfolio of company also includes brand related drinks, accessories and limited products which is related to the above mentioned brands. Place:The products of Coca Cola is distributed in more than 200 countries and about 6 operating regions including Latin, America, North America, Pacific, Eurasia & Africa. About 1.9 billion product of Coca Cola is sold every day. The company use the multiple local chain in order to distribute its product. The bottling partner of company provide customers its products
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everywhere including theatres, amusement parks, convenience store, street vendors and many other places. PepsiCo products are sold in various territories around the world. The products of PespsiCo is available in min- markets, grocery stores, supermarkets and also in fast food restaurants and various other restaurants. The company usually focusing on giving its product in fast food chains. In year 2015 about more than 5000 locations were added in the customer portfolioofacompanyacrossvariouscountriessuchasUK,Canada,Indiaand Netherlands(Eades and Thornhill, 2017.). Price:Coco-cola is well-known for the flexible pricing scheme used by the company to cover the global market. As there is already good competitor available for the Coco-Cola in the market the companyuse the Penetration pricing strategy as it help the company to cover the larger market area as in this strategy companykeeps the price at a low level at the initial stage of the product launch so that they are able to attract the customer toward the organization. PepsiCo use the market oriented pricing strategy(Serodio and et.al., 2016). Means the company use different pricing strategies for different products. For example for Pepsi cola company use cost leadership pricing , while for Doritos the company uses premium pricing strategy. The reason behind this is that in that market company has a strong competitive position. Promotion:As there is huge competition in the market and the company in same industry is highly involved in advertising of its product as a result of the Coca Cola also spend high amount in order to promote its product. Marketing expenditure of Coca Coal is about $ 4 billion as recorded in year 2016(Renz and Vogel,2016).The company uses both traditional as well as modern channel in order to promote its product. The company uses various methods in order to promote its product such as TV advertisements, outdoor ad campaign, internet and social media. The company performs a heavy marketing and advertising strategies for promoting its products. In year 2016 the company has spent about $ 2.5 billion. The company spent large amount of its advertising fund on digital marketing. The company uses both social media as well as print media in order to promote its product. People:Generally Coco-cola is well-known for the employee base which has been developed by them as they used to recruit the best employee from the market and used to train them according to the organizational need which helps the company in retaining the customer for the longer period as with that also they used to provide the best rewards and wages to them.
PespsiCo has an efficient employees in its organisation which plays a huge role in the success of the organisation. The company has also won award of ' Workplace Excellence' in order to create a good management of employees in the organisation. The company has also listed in top 20 of 'Ideal employer MBA ranking.The company knows that employees is the most important resource of the organisation therefore the company gives value to its employees and also work for their betterment. Processes:Coca cola products is available in almost every store or formats whether it is mini store, Supermarket, theatre or any other place(Liu and et.al., 2017). The company ensures to have an efficient supply chain management. The company tries its best to create a healthy relation with its customers,. The company provides various services to the customers. The company use the various distribution channels in order to provide products to its customers. The company assures that its products are available in each store where ever the company is supplying its product. PepsiCo is trying to make sure that its products are available in every retail stores so that customer can get the product easily(MAANI HESSARI and et.al., 2019). The company manages a regular contact with retailers in order to ensure regular supply of products. PepsiCo use the online delivery process which helps in receiving of orders by the computer system and on the basis of orders the inventory is shipped to the retailers or service providers. The company is actively involved in performing the marketing research which helps the company to know the current trend in the market and manufacture the product accordingly. In order to understand the market company takes the feedback from its customers by offline as well as online medium and through the social media pages. Physical Evidence: Logo is the biggest physical evidence for the product of the coco cola and it and the company use same for the all its product in the market. Company also provides its drink in Can. PepsiCo has its own websites which provide information about the wealth of a company which includes history of company, products of company, areas in which company is operating and its manufacture process. Pepsico is leading the industry in packaging. The packaging of a company helps in promoting and implementing standards which should be used for sustainable packaging.The company has the basic concept behind packaging of the product and that is reduce, recycle, reuse, renew and remove.
LO 3 P4. Marketing plan AsCoca-Cola has gained the good name in the market in manufacturing the carbonated soft drink, company is now looking to produce the healthy energy drink in the market as the UK government is able to promote the awareness of the same in the market and the consumer are also looking to buy more healthy product(What is marketing plan,2019). Marketing Plan for the new product is as follows: Executive summary:Coca Cola is losing its customer due to increase in competitors in a market as a result the company has decided to launch new product in market. In order to do so the company has decided to develop a marketing plan which will help company to achieve its organisational objective efficiently and effectively and gain their position again in the market. And attract new customers towards the company(Sparrow, Brewster and Chung, 2016). Situational analysis : Promotional activities: Coco-cola is well-known for the promotion scheme which is used by the company to promote own product as they use the variety of the platform to promote the product in the market and which has helped them in increasing their sales every year as it has promoted the awareness very easily. Market analysis Marketanalysishelpstoinvestigatebothinternalaswellasexternalbusiness environment of a company. It is necessary that Coca cola should analyse both internal as well as external environment and their influence on success and survival of the company in the soft drink industry. Internal business environment : The internal business environment of a company should be properly analysed. Internal environment analysis includes the analysis of various factors such as production process of company, communication channel within the organisation, management skill in the organisation etc(Deal, 2018). External business environment : the external business environment of coca cola can be affected due to variety of factors. Currently th company is facing huge competition in the market. Many new companies have entered the market thus giving tough competition to the company. Product situation : Competitive situation :
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distribution situation :The product of the company is delivered through being sold in the market by offline as well as online stores. The company is also using indirect mode of the distribution as the company is selling its almost productby offline stores,the product is be sold by the different store across the country and the consumer can purchase the product from their. Opportunities Analysis : SWOT analysis Strength the company has been operating in the same industry from the very long time. The company has a good brand image in the market(Bull and et.al., 2016.) thecompanyusevariouspromotional strategies in order to maintain its brand image in market. The promotional activities include cocacolalogoontshirts,collectible memorabilia, caps etc . Coca cola bottling system is one of the major strengthofthecompany.Thebottling companiesare the local company which is operated by a individual business people and these people are authorised to sell the product of the company Weakness the company has recently faced decline in its sales in Indonesia dn Thailand. The reason behindthisisthatthereductioninthe purchasing power of consumers. In Japan the sales for decreased by 3 % One of the main issue which is declining the sale of coca cola is that the drink effects the teeth which is an issue to health. As the drink consist of sugar therefore excessive intake of sugar may cause problems related to teeth as well it can also create bad impact on health of an individual Opportunities Brandrecognitionisonefactorwhichis affectivethecompetitiveposition.The company has a good brand image around the world but the decline in sales have been seen. Thereforecompanyneedstotapthemore market in order to increase its sales. Threat there are large number of soft drinks company in a market(Blockeel and et.al., 2016). Many drinks has been introduced which is giving a toughcompetitiontothecompanysuchas health drinks, energy drinks etc. the raising awareness of customers regarding the health is creating a threat to such type of
company. As now a days people are preferring to use energy drinks. Secondly the rivalry between the Pepsi and Coca cola has also caused the slow movement of soft drink industry. Lastlyduetothepresenceofvarious substitutes in a market the company is loosing the customers. The reason behind this is that thecustomersareeasilyswitchingtothe substitute product. Objectives: To increase the sales of a company in next two years. Marketing strategies : Product :Coco cola will offer the new healthy drink in the market to satisfy the need of the consumer in the market as people are looking to consume more healthy product as the government of the UK is able to promote the good awareness about the healthy product in the market. The product which will be manufactured by the Coco-cola will be having the less amount of the carbohydrate in it and will be having some healthy ingredient in it which will benefit the health of the consumer in the market. Company will use the ingredient like pulp of the many fruits. Coco-Cola will also cut down the amount of the sugar in the product as sugar is the reason some consumer does not consume the product(Blockee and et.al., 2016). Price : The company will use the same strategy which the company is currently using it will help the companythe company in attracting the customer toward the organization. The company will also keep the profit margin low for the new product throughout the product career as it is the only way the company can resist in the market as there are already big competitors in the market like Red bull. Place :Coca-Cola will introduce the new product in the local market first in the UK at the starting stage of the product launch and after evaluation of the success of the product company will decide whether to go in the global market or not as the company is introducing the new variety of the product first time in the market company need to cover all the aspect by launching the product in the local market first as the Local market is the market in which there is the need
of the healthy product and if the company is able to satisfy the customer very comfortably in the local market than the company will look to cover the global market(Chalikias and Skordoulis, M., 2017). Company will use this strategy as this strategy will help them in evaluation of the success at every point of the product cycle and also after introduction in the market. Company willsell the product directly to the customer by the interaction of the consumer with the salesperson but only in he markets where the organization will feel there is a good demand of the product in the specific area. Promotion :Company use various platforms in order to promote the products, the company will use same with the new product also as they will be promoting the product at the different platform local platform, social media platform and the different media platform. The support from the UK government toward the healthy product will also prove as a good sign for the company as it will also help them in promoting the product in the market. Company will generally use the Social media as the primary platform as it is the best way to promote the awareness in the young people as they are the one who will be consuming the product more rarely as compare to the older age consumer in the market. Action programme: In order to attract the customers toward the product the company will offer a drinks with discount and various offers. Such as if a person will buy two drinks one will be given free. And also the company will perform the winner's week in first week of the product launch in which the customer who will won the lucky draw will be given a ticket to spend holiday on the place they like. This strategy will help company to increase the sale of its product. The company will also increase its sales team by 10 persons and will provide them proper training.For the new product the company need to higher more sales person as it will require lot of efforts to promote the energy drink in the market where there is lot of competitor in the market already, so the sales person need to be more talented and skill full to sell the new product.In the initial year the company will continue to make perform promotional campaign in various locations and will also perform CSR activities. Financial forecast : ParticularsCost Advertising activities ( using print media and$ 50,000
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social media ) Human resource$ 15,000 Packaging and labelling$ 20,000 Production cost$ 40,000 Supply chain management$ 25,000 Total$ 150000 CONCLUSION From the above study it can be concluded that marketing function is one of the most important function of the business organisation. Marketing department of organisation perform various functions such as planning marketing strategies, fulfilling customer needs, planning activities in order to create brand awareness and many such activities in order to attract large number of customers toward the company and earn profit out of it. The marketing activities help the company to attract large number of customers and increase market share. The marketing department also works closely with other department of organisation such as human resource department,financedepartment,customerservicedepartment,informationtechnology department etc., which helps the marketing department to create a clear marketing strategies for its target audience. Working closely of marketing department with all other department help company to reduce the cost as the target customer is easily known by the help of information technology department and customer service department so the company saves the amount as it does not have to promote the product to all the people as they know their target audience. The use of 7P's also helps marketers in designing strategies for the market. It helps the marketer to create strategies related to price, deciding the activities to be included in order to promote products. Marketing plan is also used by various marketers in order to develop strategies to enter new product in the market .
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