Marketing Mix Analysis for Coca Cola

The assignment is based on analyzing the marketing mix and budget for Coca Cola. It discusses the importance of the marketing mix in initiating the marketing plan, and how it can be used to introduce and promote products and services at the right time and place. The 7 Ps of marketing are also examined, including product, price, promotion, people, process, physical evidence, and performance. Additionally, a budget analysis is conducted, breaking down estimated costs for database management, relationship management, employee recruitment and training, technological development, and market research.

MARKETING ESSENTIALS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P3. Comparing the way in which different organisations apply marketing mix....................1
P4. Producing and evaluating a basic marketing plan for an organisation.............................3
SWOT Analysis of Coca Cola................................................................................................4
Future Marketing Mix Strategy..............................................................................................4
Segmentation, targeting and positioning................................................................................5
Budget.....................................................................................................................................5
Control....................................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
In the present era, there is a huge competition in the market among industries. As every
company needs to gain effective growth and profitability but sometime due to huge competition,
company fails in its business objective. Marketing is one of the essential processes within
company by which corporation can earn maximum profitability and address objectives. With the
help of marketing, company can promote and sell its products and services as well as attract a
large number of customers. The current study provides knowledge about the marketing concepts
and principles which company has to follow in order to address its objectives. Marketing mix
and its significance has been discussed with the help of Coca Cola.
TASK 1
P3. Comparing the way in which different organisations apply marketing mix
Marketing mix refers to a set of actions and tactics that corporation uses to promote and
advertise its products and services along with the brand in market. It is a significant concept in
the marketing philosophy by which organisation becomes able to introduce and place the right
products and services to the right person and at the right time. Marketing mix helps the
organisation making its marketing activities easy and fast (Aaker, 2011). Coca Cola firm was an
atlanta, georgia company which serves the Diet coke, diet coke caffeine, Coca cola cherry, Coca
cola life, Pepsi, RC Cola, Afri cola, Inca Kola, Cavan cola, etc. Organisation produces
concentrate which is then sold to licensed Coca Cola bottlers throughout the world. It has main
objective is to serve the high quality of soft drinks to its customers and make maximum
profitability and market share. In order to achieve the objective of organisation, Coca Cola has to
assess and analyse various elements of marketing mix. Following is the comparison in between
marketing mix of Coca Cola with Nestle:
 Product- Coca Cola has the huge portfolio of product which included 3300 products.
Cited venture is the number one brand in sparkling beverage, juice and retailed packaged
water. It includes several products like fruit juice, fruit drinks, water, energy drinks, team
and coffee, etc. It serves the high quality of products and services in the market through
which it has effective brand position in the competitive market. Nestle has the third
classification of items which comes into arranged dishes and cooking associates. Maggi
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noodles is the real case of arranged dishes. Maggi has fabulous taste and quality. Nestle
promoted that Maggi brand to make an umbrella of different items like Maggi pasta,
Maggi 3D shapes and so on. Each other result of Nestle is chocolates. Nestle have some
prominent chocolates, for example, Munch, Milky bar, Éclairs, etc.
 Price- Price is another one of the most significant elements of marketing mix through
which company can measure value of money in market. Cost is the most fundamental
trait of promoting brand of Coca cola and Nestle. Coca Cola is utilizing the skimming
structure of estimating (Edward, 2000). According to this system, organization charges
the most astounding beginning value that client will pay. As the request of principal
customer is fulfilled, the organization brings down the cost to pull in another, more value
touchy section. The real goal of this estimating methodology utilized by Coca Cola is to
keep up and ensure position in the market. Nestle has set the high cost of its product and
services. It focuses of ll Customer like youthful, old, grown-up, business administrators
and so forth.
 Place- Encouraging fast and direct access on the web and disconnected channels is a
significant technique of Coca Cola which helps in giving better administration to
customers. According to the present way of life of diverse people, Coca Cola has chosen
to make gainful online channel. Its route page is more helpful, straight forward and
effortlessly available for customers. In addition to this, for reaching Customer Coca cola
is expanding its retail locations in business streets which additionally helps in expanding
fascination of new nearby Customer and guests (Halal, 2003). Nestle has more than
different physical stores everywhere throughout the UK. Alongside this, it has begun its
online administration for customers. Free retailers are additionally extraordinary as
compared to other alternatives for offering its merchandise and enterprises. Utilizing its
online stores, customers can purchase the items and administrations according to their
own needs and prerequisites
Coca Cola has its own online page on the internet through which customers can directly
place their orders of products and services.
 Promotion- Advancement exercises is the most fundamental exercise through which
organization can advance its item and administration in market. By utilization of these
strategies, organization can report and pass on data identified with item value, highlight,
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rebate, offer and extra message to client. Coca Cola utilizes different advertising efforts
keeping in mind the end goal to advance its items and administration. For the most part
with help of social media and other online channels organisation can promote and
advertise its product and services in the market. With help of announcements, street
appear, blurb, TV, big name support's sort of limited time channels (Kumar, 2010). Then
again Nestle is utilizing print media, for example, daily paper and magazines so as to
advance its items and for speediest administration. Further, TV ads, internet based life,
board likewise utilized organisation for promote and advertise its product and services in
the market. Company uses various online and offline channels for promotion and
advertisement in the market.
P4. Producing and evaluating a basic marketing plan for an organisation
Marketing plan is one of the significant aspects in marketing by which company can
introduce its products and services in market. In context of Coca Cola, it has main aim to
produce high quality of products and services as well as earn maximum profitability and market
share (Merriam, 2009). For addressing this objective, company will focus on the effective
marketing planning under which it will focus on the health conscious customers who require
healthy drink.
Company Overview
Coca Cola serves the Diet coke, diet coke caffeine, Coca Cola cherry, Coca Cola life,
Pepsi, RC Cola, Afri cola, Inca Kola, Cavan Cola, etc. Its products are sold in over 200 countries
in the world with customer drinking more than 1.8 billion company beverage serving each day.
Current marketing analysis
For investigate inside condition and competency of Coca Cola, Porter five power model
can receive by promoting supervisor. Bargaining power of customers- The threat from buyers is high as they have extensive
quantities of focused firm in the market. In this aspect if organization will minor vary its
cost of item and nature of administrations at that point organization's Customer may
move into its rivals in the market.
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 Bargaining power of suppliers- Coca Cola isn't as reliant on providers as different stores
as it primarily offers possess marked items (Nykiel, 2007). Along these lines, it has low
dangers of providers since its image is sufficient available to be purchased its items. In
the event that providers will expand cost of crude materials at that point organization can
switch towards different providers. Threat of substitutes- It has low risk of new participants since Coca Cola is as of now a
Nestle and acclaimed association inside the market. New association need to invest loads
of energy and also cash-flow to manufacture such brand picture as Coca Cola has in the
market. Level of competition- Competition of referred to wander is for the most part high since
organizations are attempting to expand into non-centre fields in this manner making extra
rivalry (Whittaker, 2009).
 Dangers of substitutes- It has high dangers of substitutes in light of the fact that there are
different brands accessible in the market which can end up substitute of said firm.
General one might say that if organization will minor vary its cost of item and gets
change quality, at that point its Customer may move towards its substitutes.
SWOT Analysis of Coca Cola Strengths - Coca Cola have strong brand picture in the market, it has their own particular
marked names. High quality of product and services is the significant quality of Coca
Cola that makes its strong in the market. Its Customer has discovered amazing products.
It has major strength is its high and advanced technology and infrastructure through
which it have effective perform its business activities and functions in the market. Weaknesses - The significant weakness is the high level of competition from different
brands of Beverage organization being a famous brand. It has another weakness is related
to poor employees qualification as it have low skilled personnels in the market through
which sometime its performance get down. Opportunities - It has opportunity is to deliver the other sustenance items in the market. It
has another open door is to build up its business in the global level and different nations.
 Risks - Strong rivalry is another major threat for Coca Cola. It needs to dependably grow
new system which can unmistakable it from its adversaries. Changing Customer request
and requirement related item is another risk for firm (Wilson, 2001).
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Future Marketing Mix Strategy
Following are some future strategies that help Coca Cola in developing its strong brand in
the market and earn maximum profitability:
 Product- Coca Cola will develop the healthy soft drink with low sugar and cholesterol.
This healthy drink will help customers in maintaining good health and it will not have
any kind of side effects on the body (Wirtz, Tuzovic and Kuppelwieser, 2014).
 Price- It will use penetration pricing strategy in which it will sell product and services at
the lowest price at initial level.
 Place- It will serve effective and healthy drinks with the help of offline as well as offline
channels.
 Promotion- Compelling limited time measures, for example, web based life promoting,
SEO, web based showcasing, rebates and so on will be created to accomplish high
development perspectives. Coca Cola will promote its products and services by the help
of social media and other online channels (Yan, 2009).
Segmentation, targeting and positioning
Segmentation is a procedure which partitions the entire market into littler sub-parts
according to the regular attributes and enthusiasm of customer. Statistic, Geographic,
Psychographic and Behavioural are the methodologies that aides in the procedure of fragmenting
the market. EE has used demographic approach in segmenting the market. The company has
segmented the market as per age group of the people. Coca Cola will use demographics
segmentation in which it will serve products according to the age of customers (Bahadir,
Bharadwaj and Srivastava, 2015). Target advertising can be a key to independent venture's
prosperity. It makes advancements, estimating and circulation of product and services simpler
and financially savvy. Coca Cola has focused from the age gathering of 12-50 of United
Kingdom. Positioning is a procedure of conveying the brand character and offer to the focused
on group of customers.
Budget
Activities Estimated cost (in GBP)
Database management 250
Relationship management 150
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Employee recruitment and training 100
Technological development 255
Market research 300
Control
With the help of budget analysis method, company can analyse success and development
of plan. Analysing budget on convenient premise will help the business in guaranteeing the
development part of the organization while guaranteeing the monetary parts of the business
(Barrett and Weinstein, 2015)
CONCLUSION
From the entire report, it has been concluded that marketing mix plays a crucial role
within the organisation for initiate the marketing plan. With the help of several elements of
marketing mix, company can introduce and promote the right products and services at the right
time and at the right place.
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REFERENCES
Books and Journals
Aaker, D., 2011. Marketing Research. John Wiley and Sons.
Bahadir, S. C., Bharadwaj, S. G. and Srivastava, R. K., 2015. Marketing mix and brand sales in
global markets: Examining the contingent role of country-market characteristics. Journal
of International Business Studies. 46(5). pp.596-619.
Barrett, H. and Weinstein, A., 2015. Corporate entrepreneurship, the marketing mix, and
business performance. In Proceedings of the 1997 Academy of Marketing Science (AMS)
Annual Conference. Springer International Publishing.
Edward, L., 2000. Marketing on the Internet. International Journal of Manpower. 21(2). pp.141
– 147.
Halal, W., 2003. E‐commerce forecasts: a return of the dot.com boom. On the Horizon. 11(1).
pp.23 – 25.
Kumar, V., 2010. Customer relationship management. John Wiley & Sons, Ltd.
Merriam, B. S., 2009. Qualitative Research: A Guide to Design and Implementation. 3rd ed. John
Wiley & Sons.
Nykiel, R. A., 2007. Handbook of Marketing Research Methodologies for Hospitality and
Tourism. Routledge.
Whittaker, M., 2009. An introduction to Internet marketing and planning. Lulu.com.
Wilson, R., 2001. Planning Your Internet Marketing Strategy: A Doctor Ebiz Guide. Wiley.
Wirtz, J., Tuzovic, S. and Kuppelwieser, G. V., 2014. The role of marketing in today's
enterprises. Journal of Service Management. 25(2). pp.171 – 194.
Yan, R., 2009. Product categories, returns policy and pricing strategy for e-marketers. Journal of
Product & Brand Management. 18(6). pp.452–460.
Online
Extended Marketing Mix: The 7 Ps of Marketing. 2014. [Online]. Available through:
<https://blog.udemy.com/extended-marketing-mix/>.
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