Marketing Planning Process and PESTLE Analysis for New Soft Drink by CocaCola

Principles of
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................3
SECTION – 1...................................................................................................................................3
Marketing planning process components and importance of using marketing orientation in
the organisation......................................................................................................................3
PESTLE analysis for new product and micro environment factors with reference to the
activities of the competitors....................................................................................................5
Importance of 7Ps model for effective marketing planning..................................................6
SECTION – 2 ..................................................................................................................................7
Segmentation for new soft drink for B2B and B2C market and it's differentiation..............7
Methods of targeting B2C market and primary target of new product in terms of features
including Demographics, benefits, behavioural and lifestyle of the customer.......................8
Meaning of positioning and How this new soft drink would be positioned in the mind of
customers................................................................................................................................9
SECTION – 3 ................................................................................................................................10
Table format design for 7P's of marketing mix with references to the new soft drink product.
..............................................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Principles of marketing are crucial for developing relationships with pre existing users
and for expansion of reach to new and potential users. (Ferrell, Hartline, and Hochstein,
2021)Principle of marketing help in identifying how to better marketing activities in addition to
getting to know taste and preferences of customers. The company chosen for the purpose of this
report is CocaCola which was started in 1886 when John Pemberton served the first batch in a
pharmacy situated in Atlanta, Georgia its also the place where the company headquarters are
located according to company website. In the contemporary times people are getting more and
more conscious about their health. To exploit this opportunity Cocacola has come up with new
healthy soft drink which contains fibres. The report below brings out plans which needed to
effectively market their new product. PESTLE analysis of new beverage is conducted in report
below in addition to bringing out the 7p's of product.
SECTION – 1
Marketing planning process components and importance of using marketing orientation in
the organisation.
Marketing planning process is a systematic way to develop objectives, making schemes
and implementation business operations. It's purpose is to determine the necessity and
preferences of the end-user for gaining acceleration and diversification in revenue stream.
Elements of marketing planning process
 Market inquiry – Market inquiry the foundational and therefore very essential element
of the entire process. For identification of needs and gathering data about potential
customers, size of the market, gaining insights into current and future market trends.
(Palmatier and Crecelius,2019) Market inquiry is crucial for gaining the above data.
CocaCola does the market inquiry process through its R & D department.
 Targeting apropriate market – The enterprise needs to gather where the product will
be put up and what demography of people are going to be targeted for marketing.
Cocacola's target demography is Young people living in urban areas.

 Product – The commodity purported to be sold should align with what the market
inquiry revealed as needed and preferred by the end users.(de Sousa and Castañeda-
Ayarza 2022). Cocacola launches new flavours after conducting market analysis.
 Competition – An enterprise should be aware of the commodities directly in
competition with their own commodity, so that they are sufficiently able to distinguish
their product from the competition. Cocacola has unique bend of flavour which is often
marketed.
 Mission statement – It includes outlining the roadmap through which goal of the
organisation can be met. The mission statement reflects demography to whom the
commodity is marketed by accounting for their taste and preference. Cocacola's mission
statement is “ To inspire moment of optimism and happiness”.
 Market strategies – Just manufacturing some commodities does not suffice. An
enterprise has to inculcate trust and create brand awareness among its potential
customers. They can promote the commodity by using various transmission techniques.
Coca cola uses Adverts, Direct marketing, Pushing ads on internet and various other
methods to promote its product.
 Valuation – The Price of commodity should be such that end users find value while
balancing the need of revenue for the enterprise. Cocacola sells its product according to
quantity, pet bottle costs relative to quantity than bigger bottles.
 Funds – Any enterprise has to set aside how much they want to spend on acquiring
customers. It has to decide whether they are sufficiently equipped to deal with marketing
or they require some help from marketing companies which requires more funds.
Cocacola spends a significant portion of their revenue in acquiring customers, while
using the marketing teams of their own company and outside help.
 Marketing milestones – The milestones set to be achieved should be outlined
beforehand. Set milestones should help the company to efficiently shore up its revenue
stream. Cocacola wants to provide quality beverages at nominal rates to end users across
the globe. Due to selling worldwide they can reap the benefits of economies of scale and
cut down cost.