Strategic Marketing Planning

This document discusses the importance of corporate and business objectives in strategic marketing planning. It explores the corporate strategy and business strategy of Coca Cola, highlighting their objectives and goals. The document also provides an overview of the organization and its global marketing approach.

Strategic Marketing Planning

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Corporate strategy..................................................................................................................3
Business Strategy ...................................................................................................................3
Overview of the organisation ................................................................................................4
Coca Cola's corporate and business objectives .....................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7
BOOK AND JOURNALS .....................................................................................................7

INTRODUCTION
Corporate objectives can be termed as the objectives formulated and designed by a business
organisations which highlights upon the goals and aspirations that the respective enterprise
would like to achieve in a given period of time (Lanzolla and Markides, 2021). It is an essential
element that helps the firm to get closer to its vision and achieve greater heights in the market
domain. The report highlights upon the assessment and evaluation of the corporate and business
objectives formulated by Coca Cola.
MAIN BODY
Corporate strategy
Corporate strategy can be defined as a long term strategy developed by the business institutions
in order to gain a competitive edge within the target business sector. Corporate strategy
facilitates the business organisation in creative value in the organisation wherein all the members
of the firm feels motivate to accomplish the targets and goals set by the same. Coca Coal is a
global enterprise (Bigelow and Barney, 2021). The company carries out its business operations
all across the globe and enjoys a good customer base in the market environment as well. The
corporate strategy provides the right direction to the organisation and paves a path through which
it can become flexible for the company to reach its potential. Since, Coca Cola is an internation
business firm, it needs to focus upon the optimum management as well as utilisation of its
resources. With the appropriate corporate strategy, Coca cola can lead to betterment in its
utilisation as well as capitalisation of the current resources which can deliver maximum benefit
to the concerned business firm. Hence, it can be stated that corporate strategy is an essential
element as well as an integral part of the business institution as it ought to shape the firm's
outlook as well as prepares the firm to accomplish its overall goals.
Business Strategy
Business strategy can be defined as the strategy incorporated by the business firm in order to
reach their business goals and objectives in an productive and efficient manner. Business
organisations needs to concentrate upon developing a business strategy that can maximise the
profit generation within the firm and can also assist the same in reaching out to a larger set of
audience in order to promote and create awarenesses about the products and services of the
firm(Mancha and Gordon, 2021). Business strategy allows the institutions to facilitate their

growth as well as expansion in a strategy way in order to ensure that every step taken towards
their goal is effective and prominent in nature. Business strategies can be termed as the action
plan that tend to focus upon alleviating the business activities of the firm in order to lead its
towards growth and sustainability. The business strategy of Coca Cola is to emerge as one of top
and leading beverage organisation that is purely customer oriented. The major strategy of the
company is to provide low sugar drinks to the customer base in order to enhance their interest
towards the firm.
Overview of the organisation
Coca cola is one of the biggest names in the beverage industry. The respective organisation was
founded by a very intelligent pharmacist named Dr. John Pemberton. The company has
approximately 500 brands which caters up to 3000 products in the market (Kitsios and
Kamariotou, 2021). Coca Cola enterprise has a very wider scope and incorporate several
carbonates as well such as fanta, sprite etc. Coca Cola is a firm that believes in the concept of
global marketing and this is the reason why company has established its business all around the
world. Earlier, the company used to capitalise on a single marketing variable or technique to
reach the global audiences. But with the changing times and scenarios of the market, the
requirement and necessity for innovation has become a must for each and every organisation. In
order to align the business operations to the same, various marketing campaigns have been
designed by the firm which are really creative and attractive (Vasu, 2021). One of the major
reason behind the success of Coca Cola can be termed as its effective urge and drive for
conducting advanced market research which has helped the company to conduct its product as
well as operational activities in major regions across the world.
Coca Cola's corporate and business objectives
Corporate and business objectives allows the business organisations to prepare a systemic
statement that defines the certain goals that the respective firm is aiming to achieve in a given set
of time frame. The business objectives details about the short term and long term goals as well as
the aspirations of the business firm. These are the guidelines that governs the strategy formation
process of the firm and it also provides a brief to the management in relation with what all steps
it should take in order to meet up to the objectives set by the higher authorities of the business
institution.

Coca Cola's business objective is to establish itself as a global firm that entails and incorporates
the right set of responsibility and runs its business operations within the ethical means and
guidelines set out for the operations of the business enterprise within the business environment
(Liu and Kong, 2021). The respective business organisation also aims for sustainable growth in
order to ensure the long term operations of the same in the global market. In order to formulate
the appropriate set of business objectives, SMART Goals can be termed as a productive method
the provides assistance to the business firm in establishing the objectives which are realistic in
nature and achievable as well. The five major attributes which needs to be taken into
consideration by Coca Cola in order to establish SMART goals are mentioned below :-
Specific : It is extremely necessary for the bushiness firm to look forwards towards formulating
the goals that are specific and related to the organisational functioning. For example :- Coca Cola
needs to be focus upon the goals related to the upliftment of its operations in the beverage
industry.
Measurable : The individuals involves in the formulation of the objectives should be able to
keep an eye on the progress towards the objective as well. They should be able track the extent
to which the firm is successful in achievement of the goals (de Baat Doelman, Josh and Brüggen,
2021). For example :- The objective of Coca Cola firm to increase its sale by 10% needs to be
tracked and monitored by the management in order to measure the progress made by the firm in
the realisation of the same.
Attainable : The firm should focus on the formulation of the objectives that are possible to
achieve are realistic as well. The formation of unattainable goals can cause adverse implication
for the business enterprise as can result in the wastage of resources as well as the hard work of
the employees. For example :- The acquisition of 99% of the market share in the beverage
industry is an extremely unrealistic objective for the respective company . Thus, it can lead to
waste efforts at the ends of the firm.
Relevant : The objectives should be appropriate and relevant in nature in order to enhance the
possibility for their accomplishment in an effective and efficient manner (Mitropoulos, 2021).
For example :- Cola Cola should concentrate upon the development of the objectives that
showcase a high degree of relevancy.
Time Bound : Time limits helps the business firm to provide a deadline to the employees and the
members in charge for the accomplishment of the goals to run their operations in a manner that

the work is completed before due date or the target date set for the achievement of a particular
set of objective. Objectives without a set timer frame can become nearly impossible to achieve
as they will not come across as a priority of the employees and they will likely to get neglected
after a period of time. For example :- Coca Cola's objective to complete its marketing research
operations within 3 months can be specifies as time bound goal.
CONCLUSION
From the above analysed information, it can be concluded that business and corporate strategies
determines the overall success plan for the business venture. Coca Cola is an organisation that
also invest a lot of time and efforts towards designing the right kind of strategies for growth as
well as sustainability for the business institution. It can be stated that the respective firm has
adopted the appropriate structure of corporate strategies that has helped the firm to emerge as
global success. The capitalisation on the Smart goals technique can also facilitate the firm in the
development of incredible objectives that can further lead to major advancement for the
company on a current basis and in the near future as well.

REFERENCES
BOOK AND JOURNALS
Lanzolla, G. and Markides, C., 2021. A business model view of strategy. Journal of
Management Studies, 58(2), pp.540-553.
Bigelow, L.S. and Barney, J.B., 2021. What can strategy learn from the business model
approach?. Journal of Management Studies, 58(2), pp.528-539.
Mancha, R. and Gordon, S., 2021. Multi-sided platform strategies for organizations:
transforming the business model. Journal of Business Strategy.
Kitsios, F. and Kamariotou, M., 2021. Artificial Intelligence and Business Strategy Towards
Digital Transformation: A Research Agenda. Sustainability, 13(4), p.2025.
Vasu, S.D., 2021. RAPID INTERNATIONALISATION: THE CRITICAL ROLE OF
INTERNAL AND EXTERNAL FACTORS ON CAPABILITIES AND BUSINESS
STRATEGY. European Journal of Management and Marketing Studies, 6(2).
Liu, C. and Kong, D., 2021. Business strategy and sustainable development: Evidence from
China. Business Strategy and the Environment, 30(1), pp.657-670.
de Baat Doelman, M., Joshi, A. and Brüggen, A., 2021, January. An Empirical Assessment of
the Impact of Strategy Implementation Actions on Digital Business Strategy. In
Proceedings of the 54th Hawaii International Conference on System Sciences (p. 5997).
Mitropoulos, S., 2021. An integrated model for formulation, alignment, execution and evaluation
of business and IT strategies. International Journal of Business and Systems Research,
15(1), pp.90-111.