Marketing Essentials: A Comparison of Coca-Cola and Pepsi.co
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This report compares the marketing mix of Coca-Cola and Pepsi.co, explores the tactics applied by Coca-Cola, and provides guidance on developing a marketing plan for Coca-Cola. It covers the product, price, place, promotion, people, process, and physical evidence aspects of both companies.
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Table of Contents INTRODUCTION...........................................................................................................................1 TASK 1............................................................................................................................................1 Covered in ppt........................................................................................................................1 TASK 2............................................................................................................................................1 Compare marketing mix of Coca-cola and Pepsi.co..............................................................1 Tactics applied for organization.............................................................................................4 TASK 3............................................................................................................................................5 Developing marketing plan for Coca cola..............................................................................5 CONCLUSION................................................................................................................................8 REFERENCES................................................................................................................................9
INTRODUCTION Marketing is an effective activity which is undertaken by the company to promote the buying and selling the goods and services. Marketing is includes various advertising, selling and delivering goods and services. The present report is based on “Coca-cola” which is soft drink manufacturing company. The report will compare by marketing mix of Coca-cola with Pepsi.co Company in proper manner. The report will also produce by the marketing plan for Coca-cola company for improve their performance by launching new product line at market place in an effective manner. TASK 1 Covered in ppt. TASK 2 Compare marketing mix of Coca-cola and Pepsi.co. The marketing mix is applied in proper marketing planning which is produce to achieve organizational goals and objectives of company in the proper and effective manner. This includes product,price,place,promotion,process,peopleandphysicalevidencewhicharemore important for company. Those are important aspects which are helps to attract more customers towards company and increase sales of company. Here is present marketing mix of coca cola and Pepsi.co is as follows: Keyelementsofmarketing mix Coca colaPepsi.co ProductCocacolacompanyhasthe large number of product and service which is produce and sales at market place in proper manner for achieve goals and objectivesofcompany.The productrageofcompanyis Coca cola, sprite, fanta, coca cola life, coca cola zero and Thiselementisimportant elementofmarketingmix whichisidentifies organizationaloutputsmade availabletocustomers.The company have wide range of product list which are energy drink, soft drink, cereal, rice snacksandbreakfastbar. 1
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minute maid.Thoseareattractingmore customers toward business. PriceThe price is main element of productthroughwhich customersaredecidingto purchase product and services. Thecompanydecidetheir productpriceclosest competitors in the beverages segments.Thecompanyhas competitive pricing strategy in thatcompanysetpriceof product first lower after some its increase as per market. Thepricingstrategyis important for every company whichreflectsoncustomers mind to purchase product. The company have hybrid pricing strategy and market oriented pricingstrategy.Inthat companyfirstanalysisthe market and then take decision to sets price which is lower from their competitors. PlaceThecompanyhasbeverages distributionsystem.Its products are sold in more than 200countriesacrossthe6 operatingregionswhich includesvariousplaces.The company have their traditional and offline stores from their customers can collect products and services of company in an effective and valuable manner bycreatingandsatisfying customers. Thecompanyusesaglobal networkfordistributingits productstocustomersand wholesalerontime.This considersthesalesinthe marketing mix. The company have online and offline place fordistributeproductsto customers. This help to order producttocustomersand companytoincreasetheir sales. PromotionThepromotionisanother elementthroughwhich companyispromotingtheir productandserviceat Thepromotionisanother elementwhichiscreates positivebranimageat marketplacein effectiveand 2
marketplacethroughmaking andfixingchannelsof marketingisrespective manner.Thecompanyis organizedoutsidecampaigns and TV adds which can helps toprovideupdatesto customers about products and services in effective manner. The companyhaveeffective and strong brand image which isalsohelptopromote product at market place. proper manner. The company haveeffectivepromotional strategywhichishelpsto promote product and service at marketplaceinproper manner.thepromotional; strategyofcompanyis advertisement,sales promotionlikebuyoneget free,directmarketinglike providesampletocustomer and build public relation is the best for company to build that ineffectiveandproper manner. PeopleThe company has eligible and talentedemployeeswhoare giveshardcontributionto achieve goals and objective of company in effective manner. Employeesandstaffof companyhavesolvedeach and every problems and issues at stores without delaying it. Throughthatcustomerare satisfiedbecausetheir problems are solving in proper and without time wasting. Thecompanyhavebiggest marketing and sales team who givesbettereffortsfor promoteproductatmarket place by managing quality of product.Theoperation departmentofcompanyis makesproperproductand services at market place. ProcessProcessisreferringfrom whereemployeesaretaking orderofproductfrom The company have and follow abestproductionprocess whichcreatesmore 3
wholesaler in highest quantity. Thecompanyhavelarger distributionstrategyand process which help to provide productsatlocationonthe time. This process is helps to company customers to arrived products. effectiveness for company to buildtheirbrandimageat market.Thecompanyalso have online facilities through thattheytakesorderof product with customers. Physical evidenceThe company have good brand image which creates effective andvaluablephysical evidence on customers mind. Logoofcompanyisalso physical evidence and creates bestimageinproperand effective manner. Thecompanyprovidelogo and launch canes for serving soft drink to its customers in effective manner. This helps tocreatesbestimageof product in customer mind by providing products. Tactics applied for organization. In the above table shows various tactics which are help to coca cola Company to promote and improve their performance at market place. Product is the best element and company have wide range product line which helps to attract more customers. Pricing strategy of company is competitive strategy but now company can use competitive pricing strategy which helps to company to sets their price of product as per market demand. Promotional strategy for company should use social media and public relation because now days people runs social and get updates about product and services of company. Place tactic of company is to use online channel to get order of product by customers in proper and effective manner. 4
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TASK 3 Developing marketing plan for Coca cola. Marketing plan is the document which reflects best marketing tactics for company to promote product and increase sales of company by producing new product at market place. Executive summary: Coca Cola Company is branded soft drink company which produce different type’s soft drink for attracting more customers at market place. New product of company is Vita coco cola. That is favour like little coconut water. This provide great energy to youngsters and old peoples. Vision Inspiring each other to be the best we can be by providing a great place to work. Mission To be the fresh world in the mind, body and spirits. To create value and make a difference. To attract old people to company by giving more energy by Vita coco cola Objective To increase 20% sales of company till the end of 2020. To increase 30% investment on research and development department for gaining information from market. Market audit SWOT analysis StrengthWeakness Strong brand image. Extended global reach. Dominant market share. Unparalleled distribution system. Aggressivecompetitionwithother similar brand. Product diversification. OpportunityThreats Introduce new product like vita coco cola. Advancement of technology. Increase developing nations. Water usage controversy. Direct and indirect competition. 5
Packaged drinking water. PESTLE analysis PoliticalVita Coca cola isaffectedby commonpoliticallawswhich influence by lots of regulations. Like political stability is affect to Vita Coca cola in two ways this can affect customer ability to purchase directly. Other hand, this invested in various countries which is highly risky EconomicalGlobal economy is affect to company performance, valuation and profits. Unemployment rate is affect to business because for producingnewproductlikeVitaCocacolaneedsmore employees. If company not hire employees than they can face various problems. SocialAll countries have their own culture difference by this company faced problems. The company has manufacture all over world. In this company have to do heavy research and location plant. TechnologicalIn this industry have high level of competition. There is only the way of competing with others which is innovation in existing soft drink and adding new taste in products. LegalIn that company needs to follows food act which helps to protect product of company as well as new product. EnvironmentalThis factor is affected when then climate is changed because customers are not drinks soft drinks in the winter season as well as cold seasons. Marketing mixProduct: company sell products like soft drinks which are help to attract more customers like youngsters but now company added coconut water favour in drink to attract old people. To extend business, company introduce new product which Vita coco cola. On the other side, in existing product company should provide on online and develop mobile apps for online shop products. 6
Price: company use competitive pricing strategy. In that company fix product price lower as per their competitors. In order to achieve goals of marketing, they should provide discount, coupons and allowances to attract customers.Place: In that company should open its stores and online shopping apps which help to customers to order their product online platform. This can aid to increase the selling of products by social media ads.Promotion: Coca cola company manager should collect information through customers and start sending them on E-mail and SMS.Peoples:the company should provide the best training to their employees and peoples for give best efforts in production process of new product which is vita coco cola.Process:they should use computer across handle various process in order to increase efficiency and delivery on time. Physicalevidence:cocacolashouldcollectfeedbacksfromcustomersrelatedto packaging and after than improve this in effective manner. Segmentation, Targeting and Positioning Segmentation: the segmentation of company is demographic as per age of customers like 16 to 50 years old. Also, target to premium customers for increase sales of product. Target customers: the target customers are youngsters and old people. Positioning: the company have great position at market place which is helps to promote product and services at market place in effective manner. Budget ExpensesAmount in pound Advertising expenses150 TV and print media100 Raw material300 Transportation50 Total600 Monitoring and controlling 7
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Monitoring and controlling is the important and effective process for satisfy customers and their needs with customers in effective manner. For that company is collect feedbacks form customers and make changes as per their requirement. That is helps to company to attract customers and build loyalty because through that customers are think company works as per their requirement in company. Through that customers are more satisfied and purchase product and increase sales. The sales of product are increase than profit margin is also increased in effective manner. CONCLUSION From the above study it had been concluded that the marketing of company has played an important and effective role in the company. The report had compare by the marketing mix of company and other company which include various tactics for company which helped to increase sales of company. Those tactics are product, price, place, promotion, people, process and physical evidence. This has also developed by marketing plan which had helped to promote products and services at market place by introducing new product line. 8
REFERENCES Books and Journals Hair Jr, J.F. and et.al., 2015.Essentials of business research methods. Routledge. Harmeling, C.M. and et.al., 2017. Toward a theory of customer engagement marketing.Journal of the Academy of Marketing Science. 45(3). pp.312-335. Krush, M. T., Sohi, R. S. and Saini, A., 2015. Dispersion of marketing capabilities: impact on marketing’s influence and business unit outcomes.Journal of the Academy of Marketing Science. 43(1). pp.32-51. Larson,J.andDraper,S.,2015.Internetmarketingessentials.IdahoFalls,ID:Stukent Incorporated. Malhotra,N. K., 2015.Essentialsofmarketingresearch: A hands-on orientation. Essex: Pearson. Pike, S., 2015.Destination marketing: essentials. Routledge. Pike, S. D., 2016. Destination Marketing Organizations–Research opportunities in an era of uncertainty. InBook of Abstracts-6th International Conference on Tourism. International Association for Tourism Policy (IATOUR). Rowley, J., 2016.Information marketing. Routledge. Online 7P's of marketing. 2017. [Online]. Available through: <https://www.mbaskool.com/marketing- mix/products/16810-bmw.html> 9