Marketing Planning and Strategy for Coca-Cola's New Product Mint Coke

PRINCIPLES OF
Marketing

INTRODUCTION
The process in which a company sells their products and services to the consumer and this
process also including promoting its product, advertising and market research. The purpose of
the Principles of Marketing is find out the usefulness of P'S . Its main P'S are price,place,product
and promotion. COCA-COLA is the company of soft drinks and beverages which was invented
in 19th century and owner of this company is John Stith Pemberton in Atlanta, Georgia. Coke
carbonated soft drink is the main product of coca-cola company but with time this firm has
introduced more products like Diet Coke, Caffeine free coca-cola, coca-cola Zero Sugar etc. This
project states about the new product of coca-cola which is Mint Coke which is healthy and zero
sugar product and also environmental friendly. In this project there is research of Marketing
planning and its strategy through which are product can be profitable to the company and
PESTLE analysis with the internal research of the company by which we can safe our product
from the challenges of the market.

Table of Contents
INTRODUCTION ..........................................................................................................................2
SECTION 1......................................................................................................................................4
PART-A Illustrating the components of the marketing planning process and explaining the
marketing context for the new soft drink with particular reference to the role/ and importance
of adopting a marketing orientation and its application to the business.....................................4
PART-B The brief of environmental audit in the form of PESTLE analysis for Mint Coke
product ensuring the detailed specific market related facts that are fully referenced with the
relevant micro-environment factors. Such as dominant competitors and recent competitors in
the industry .................................................................................................................................5
PART- C Illustrating the extended form of marketing mix and explaining the extended
marketing mix contribution to effective marketing planning.....................................................7
SECTION 2 STP..............................................................................................................................8
PART-A Explanation of how the market for the new soft drink product is segmented for
consumer (B2C) and business (b2b) markets. And also define the extended approaches which
shows the difference between B2C and B2B segmentation. ......................................................8
PART B Elaborated targeting method that is used for B2C market and primary target of the
company with the new product in terms of characteristics includes demographics,
behavioural, beneficial and lifestyle. .........................................................................................9
PART C Illustrate the term “positioning” and suggest how the new soft drinks product can be
positioned in the minds of targetted Market.............................................................................10
SECTION 3 Marketing Mix Analysis .........................................................................................11
PART-A With the help of table create the extended design of marketing mix (7Ps) for the
soft drink based on target market and consider the relevant environmental factors.................11
CONCLUSION .............................................................................................................................13
REFERENCES..............................................................................................................................14

SECTION 1
PART-A Illustrating the components of the marketing planning process and explaining
the marketing context for the new soft drink with particular reference to the role/
and importance of adopting a marketing orientation and its application to the
business.
Marketing Planning is the process which clearly stated all the activities that will helps the
business with the goals and complete the work of the company on time.
 Scanning the Market Environment- In this company should scan all the favourable
and unfavourable factors within the environment and market like while studying about
the market environment the coca-cola will come across consumers demand and
discovering there new needs and then the firm can tale the opportunity to introduce its
new product Mint Coke.
 Internal Scanning- This is the process in which firm can identify the weaknesses and
strength within the company and can analyse competitive advantages and core
competencies(THIS, 2020). The environmental scanning can help company grab
opportunities for the new product Mint coke and also build strategies to overcome the
problems.
 Setting Marketing Objectives- This helps us to set the objectives and direction to the
business for the future actions. Like sales volume, market share, market standing,
innovation, profit and productivity etc.
 Formulating Marketing Strategy- This is the main element of marketing planning.
Like it has all the set of objectives, policies, marketing strategy etc. all made according
to the new product of coca-cola which is Mint Coke (Polk, 2018). This helps the firm to
achieve profit with the unbeatable and complete design plan.
 Developing Functional Plan- After the detailed plan there is one step left which is
functional plans which is for marketplace as the plan made of the product Mint code will
be performed by the company in the market. If Functional Plan fails the product is loss
for the firm coca-cola.
Marketing Orientation means that firm listen to the needs of the customers and how there urge
can be satisfied frequently and changes can be made for the targeted customer.