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Marketing Strategy and Recommendations Pepsi Company

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Added on  2020-05-16

Marketing Strategy and Recommendations Pepsi Company

   Added on 2020-05-16

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Running head: MARKETING STRATEGY AND RECOMMENDATIONSMARKETING STRATEGY AND RECOMMENDATIONSName of the StudentName of the UniversityAuthor’s Note
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1MARKETING STRATEGY AND RECOMMENDATIONSTable of ContentsIntroduction......................................................................................................................................38p marketing mix concept...............................................................................................................3Applying the component to the Mountain Dew..............................................................................7Contemporary issues facing the marketers......................................................................................9Impact of contemporary issues on marketing strategy of Pepsi Co...............................................11Recommendations..........................................................................................................................12Conclusion.....................................................................................................................................13References......................................................................................................................................14
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2MARKETING STRATEGY AND RECOMMENDATIONSIntroductionThe purpose of this assignment is to provide an overview about the marketing mix andevaluate the marketing strategies facing the marketers of the Pepsi co Company. The applicationof 8P marketing mix on one of the product offerings of Pepsi is discussed in this report. PepsiCoInc is one of the biggest American multinational beverage corporation headquartered in NewYork. The organizations beverage portfolio provides several choices to their customers andhence drives enhancement in productivity as well as new capabilities. Their product portfolioincludes near about 22 brands, which in turn generates around $1 billion in annual retail sales. Infact, their product brand is available across the globe. The purpose of this company is to createhealthier relationship between customer and product while continuing to expand their business.The marketing mix signifies the set of varied marketing tools that the entity utilizes for pursuingits objectives of marketing. The firm uses it as strategic tool for formulating development plan aswell as promotion of their product (Armstrong et al., 2015). 8p marketing mix aids the firm toreview their business problem that affects their marketing strategy of the commodities. Inaddition, this kind of marketing mix also helps this company to realize the synergy anddynamics, which are included among some of the vital elements. This study also focuses on thecontemporary issues that affect the marketing strategy of this organization. The last section ofthe study focuses on the recommendations for aiding Pepsi co to face these issues.8p marketing mix concept8P marketing mix signifies the model that aid to assess the business marketing strategythrough some approaches. It is basically flexible for adapting all kinds of business selling goodsand service as well as involving the role of customer service (Baker & Saren, 2016). This kind of
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3MARKETING STRATEGY AND RECOMMENDATIONSmarketing mix is also taken into account as significant framework that aids the firm to analyzetheir competitors and plan their strategy based on this. The components of this 8P marketingmix involves-Product-One of the core value of the marketing effort is the good that the companyproduces based on the target customers. Most of the firms apply product testing methodbefore launching the product in the market. The main reason behind adoption of thismethod is to attain trust of the customer and achieve success in the marketplace (Baker,2014). This testing thereby facilitates them to make important decisions regarding theproduct such as designing, giving brand names, packaging etc. In some situation, thecompany faces difficulty in selling the new products owing to less demand. However,the integration of this tool might help them to increase these products demand in thecompetitive marketplace. PepsiCo provides huge product range under different brandsincluding Pepsi, Pepsi Diet, Pepsi Max, 7up, Diet Pepsi Lime and so on. Price- Price usually covers the amount paid by the consumers for purchasing the product.This generally represents the total unit basis, which the company obtains from marketingof the products (Hanssens et al., 2014). The marketing department of the organizationgenerally concentrates on the certain objectives of pricing as well as the factors impactingproduct price. Moreover, if the product being launched attains positive customer value,then the organization strategizes to set higher price. This in turn helps them to gain highprofit margin. In addition, price of few commodities also gets influenced by thecompany’s distribution plans, competitors goods price, markups and its value chain cost.However, it is necessary for the firm to make proper marketing strategy in order tomitigate price challenges arising in the competitive business environment. PepsiCo
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