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Marketing Essentials Assignment - Coca Cola

   

Added on  2020-10-05

13 Pages3861 Words392 Views
Marketing Essentials

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1: Key role and responsibilities of the marketing functions ....................................................3P2: Role and responsibilities of marketing associated to larger organisation.............................5TASK 2............................................................................................................................................8P3: Compare ways in which two organisation use marketing mix for planning........................8TASK 3..........................................................................................................................................11P4 Creating a marketing plan....................................................................................................11CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15

INTRODUCTIONMarketing forms one of the most prominent functions of a firm which is associated withproduction, communication and delivery of products and services to customers and society andto maintain good relations with them so that both the parties business and its stakeholders couldbe benefited. The main objective of marketing is to gain customers satisfaction and generatehigher profits and maximum returns by offering goods and services that fulfil needs andrequirements of its target audience (Baker, M. A and et. al., 2016). Coca Cola is one of the world's renowned and largest beverage company which wasestablished in 1886 comprising its corporate division, which is headquartered in Atlanta, GA.This project will discuss about various marketing strategies of coca cola along with the majorroles and responsibilities of its marketing function. A brief discuss about importance ofmarketing and its interrelation with other organization's function will be given. Further, acomparative study of coca cola's and its leading contender's marketing mix strategies will bedrawn and explained. Assignment will also include marketing plan for coca cola.TASK 1P1: Key role and responsibilities of the marketing functions In today' business environment where a firm have to deal with a immense challengescomprising presence of cut throat competition, micro environment dynamics and frequentchanges in tastes and preferences of customers (Berkowitz, E. N., 2016). Thus, to be figureheadin market and to maintain and enhance its growth and market share a company is required tocome up with something distinctive unique in terms of its products, services, technology orprocess to capture the attention of people and induce them to make a purchase. Marketingfunction in this aspect enables a company to scan market scenario for prevailing competitorsstrategies, customers requirements and other important information so that an enterprise couldaccordingly modify its existing products or design or introduce an entire new product that canhelp company to get an over its rivals by providing them goods and services that most suited

their aspirations. This assist company to get higher sales volumes, high returns and more loyalconsumers. Important of marketing for coco-cola. Coca cola being market leader in beverage industry plays significant importance andspend considerable amount on its marketing strategies. It believes in diversifying its customerbase through experimental marketing which aims towards developing emotional connection withits consumers (Brassington and Pettitt, 2013). To maintain its leads and stay ahead companykeeps on innovating new ways ion its products, equipments, packaging and audienceengagement. Thus, marketing forms a essential and most attractive medium for Coca Cola tocommunicate new innovations, offers and other information about its products to its customers.The importance of marketing for Coca Cola is mentioned below:-Assists in transfer, exchange and movement of products: Marketing acts animportune medium for a company like Coca Cola for providing its products in most distinctivemanner as per their requirements to its consumers by using effective intermediates (Brooks andSimkin, 2012).

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