This presentation discusses the strategic marketing strategies of Costa Coffee in Kenya, including the adaptation and standardisation of the marketing mix, the CBBE model, integrated communication mix and methods, measure of success, and return on investment.
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Strategic Marketing
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Table of contents •Introduction •Adaptation And Standardisation Of Marketing Mix •CBBE Model •Integrated Communication Mix and Methods •Measure of Success •Return on Investment •Conclusion •References
INTRODUCTION Strategic marketing is lead to compare the company itself from theircompetitorsthroughcapitalisingtheirstrengthsothat company can provide a good value of products as compare to their rivals. It also helpful to start new business in new market. This report is deal with Costa Coffee that is a United kingdom based company and doing their businessin other foreign countries. Costa Coffee want to expand their business in Kenya and also have a plan to promote their products in Kenya.
Adaptation And Standardisation Of Marketing Mix •Adaptation-This is a most influentialmethod which determine that company need to develop and cover a total range of products and its services in effective manner so that it will attract the large number of people and also satisfy each and every one.
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CONTINUE… After the successful entry in new market of Kenya country, Costa coffee need to prepare strategic marketing strategies for adaptation and standardisation are discussed below- •Product-Costa Coffee will use adaptation method for the product of the country. Company going to launch their products and services in new market so adaptation is a convenient method to launch their products because every country is different. •Price–Due to covid – 19, financial situation become weak so all the countries increase the GDP rate and pricing policy for the country so it will lead to increase the product price. Costa Coffee apply adaptation methods so that company set price according to the country economic situation.
CONTINUE… •Place –Company follow adaptation method of place purpose. Through online and offline channels company can receive and give customers order. •Promotion –Costa Coffee use standardisation method for promotion of the company. Company use social media and digital marketing channels like Facebook, Instagram, Twitter, you tubes to promote their product in Kenya.
CBBE Model This model is stand as “ Customer Based Brand Equity Model”. This model helpful to connect with customers because with the help of loyal customers. Costa Coffee easily increase their market in Kenya. Four steps are involved in this model which are discussed below- Brand Identity Marketof Kenya is totally new for the company. It is necessary to introduce their products in a effective way so that everyone will recognize the product and company brand identity become strong.
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CONTINUE… Brand Meaning_In this step Costa Coffee try define that who are you ?. After build the brand identity, company require to consider its meaning . In this step company discuss about theperformance and imagery. BrandPerformance–CostaCoffeesuccessdependuponthe performance. Costa Coffee performance is based on the products price system , features, design , style and customer services. Brand Imagery –Company brand image is strong in other countries But this company is new in Kenya so company need to focus to create their brand image more effectively.
CONTINUE… Brand Response:This step is all aboutto the useof the products and it is mainly based on company performance. Costa Coffee will offer high quality products so that lots of customers will engage with them. Brand Resonance:In this step, Costa Coffee becomea brand advocate and it condition is challenge for the company This step come when people psychologicallyand socially engagedwith the company.
Integrated Communication Mix and Methods Integrated Marketing Communication is effective method that help to engage with the communication channel of the company. Costa Coffee is launching their products in new market so company requireto focus the mode of communication between companyandpeople.Therearethreeeffectivemarketing communication methods that given bellow-
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CONTINUE… Digital Marketing Costa Coffee is a big brand that operate business all over the world.Companyusedigitalmarketingtoforintegrated marketing communication that make company easily impact the people of Keny. Company use digital marketing channels like websites, messages, emails, online advertising of the products.
Online Platform: Costa Coffee promote their products with the help of online platforms like Facebook, Instagram, YouTube. This is most appropriate method of integrated marketing communication. Sponsorship:This is also anothermethod of integrated marketing communication. With the help of this method company promote roasted coffee.Company need to contain few activities like sports game, entertainment shows, cultural shows etc. Sponsorship require a huge amount and time.
Measure of Success To measure the success of the business Costa Coffee consider some methods Sales Target: Costa Coffee require to set a sales target so that it make easy to measure the profit rate. Company expand business in Kenya so Costa Coffee require to set a sales target so that company sale increase. Company male plan forsales target at a specific time period.
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Return on Investment Costa Coffee require to maintain Return on Investmentto measure the success. With the help of this method, Costa Coffee easily consider the all aspects. For Costa Coffee success , money, brand loyalty, image, position is needed.
CONCLUSION As per the report it is concluded that for launch products and services in a new market company need to identify the international marketing strategiesandusemarketing mixapproachaccordingtotheother country market situation. This report is deal with the adaptation and standardisation methods and also determine three integrated marketing communication so that company easily connect and communicate with the Kenya people. Through CBBE model company establish their brand identity, brand performance and image andbrand response. This report identifiedsomemethodswhichhelpthecompanytomeasurethe success.
REFERENCES •Bruhn, M. and Schnebelen, S., 2017. Integrated marketing communication–from an instrumental to a customer-centric perspective.European Journal of Marketing. •Cerrato, C., 2018. The influence of digitalisation over the internationalmarketingmixstrategy. A casestudyinthe footwear industry. •Çifci, S., et. al., 2016. A cross validation of Consumer-Based BrandEquitymodels:Drivingcustomerequityinretail brands.Journal of Business Research, 69(9), pp.3740-3747. •Ekinci, Y., Molinillo, S. and Japutra, A., 2017. A Model of Consumer-Based Brand Equity (CBBE) for Global Fashion Brand. •