Marketing Essentials: Analyzing Coca-Cola's Strategies and Practices

This report delves into the marketing strategies of Coca-Cola, a globally recognized beverage company. It begins by outlining the key roles and responsibilities of the marketing function in general, and then specifically those related to Coca-Cola, including market analysis, segmentation, pricing, distribution, and promotion. The report examines the crucial interplay between marketing and other departments such as operations, finance, sales, R&D, HR, and IT. A comparative analysis of Coca-Cola's marketing mix (product, price, place, and promotion) with that of its competitor, Pepsi, is also included. Finally, the report proposes a basic marketing plan for Coca-Cola, incorporating the discussed elements to provide a comprehensive overview of the company's marketing practices and strategies.

MARKETING ESSENTIAL

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Key roles and responsibilities of marketing function............................................................1
P2 Roles and responsibilities of marketing related to Coca-Cola...............................................3
TASK 2............................................................................................................................................5
P3 Comparison of ways by which Coca-Cola apply marketing mix for marketing planning....5
TASK 3............................................................................................................................................8
P4 Basic marketing plan for Coca-Cola......................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is an effective process through which company can improve its sales and
profitability further. For this, organisation uses various tools and technology in order to provide
best quality of products to its customers. In recent times, there are different kinds of
communication tools which company can make use of for promoting their activities. Coca-Cola
is the firm which is taken in this assignment (Walliman, 2015) . It is one of the renowned
company that is providing its services worldwide. Report will focus on key roles and
responsibilities of marketing function and along with this roles and responsibilities of marketing
that are related to the given organisation. Other than this, different ways by which marketing mix
can be applied for making effective planning will be mentioned in this report and lastly; basic
marketing plan for an organisation in included in this report.
TASK 1
P1 Key roles and responsibilities of marketing function
Marketing is a concept which is done in order to provide satisfied products to its end
customers and for this; companies assumes consumers as their biggest assets so that they can
perform their activities in a better manner. Therefore, marketing is considered as an important
component for business management. There are different kinds of roles and responsibilities that
are performed by various departments in order to execute the plan properly. In context with
Coca-Cola, marketing is playing an important role in communicating and providing all the
related information to its customers so that they can buy products according to their choices and
preferences.
Marketing function is determined as a role that helps them in identifying what is going in
the market and how they can make potential products for fulfilling the needs and wants of
customers. As a result, it will help company in gaining superior position at market area for a
longer period of time. It includes advertisements, promotions, distribution for sales, customer
service and many more (Tariq, 2013) . Some of the key marketing functions are explained below
for having better understanding:
Market analysis: Coca-Cola is a leading company in the world and it has great market
share and value. Primarily, their main focus is on manufacturing goods is which are soft-drinks,
diet coke, sprite, Fanta etc., before doing market analysis they are focusing on customers. For
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this, they are taking feedbacks and reviews so as to know what kind of products are preferred by
customers. Other than this, there are some of the demographic factors in which Coca-Cola is big
concerned i.e. age, geographical areas, taste and preferences and many more.
Market segmentation: It is a process that helps customers in dividing market area into
certain segmentations which are further be classified into potential customers and sub-groups of
customers. Coca-Cola is determining all the segments that are demographic profiles along with
business-to-business and business-to-customers. Further to make it more segmented, company
focuses on consumers choices and preferences, promotional services along with sales support. As
a result, by manufacturing goods as per the needs and wants they are being able to win the
largest market share and to become this company is having better understanding about its
customers. Coca-Cola have segmented and manufacturing goods for people who are from
different sections and belongs to various culture. Therefore, age and gender is also considered by
them thus, in return they are gaining better outcomes (Babin and Zikmund, 2015).
Pricing: It is considered as a factor that helps company in increasing their sales and
profitability so it is crucial that firm decide price and fix a price that both firm and people can
agree to implement and pay respectively. Final price that are imposed by Coca-Cola is done after
considering the views and reviews of different departments because company's success depends
upon this. For example: if the prices are higher as compared to other enterprise who are dealing
in the same sector then people will move towards other subsidiary firms as a result sales and
profitability will decrease or diminish.
Distribution: With the change in course of time, company can now opt different
distribution channel in order to make their product reach to maximum number of people. Various
distribution channels helps Coca-Cola in delivering products to different stores and outlets form
where consumers can purchase their commodities as per their choices. Company has adopted
different kind of distribution channel that are used by other rival firms as well.
Promotion: In order to get success doing promotional activities is very important and
according to current market area Coca-Coal has adopted them. It includes online websites,
YouTube, Twitter, Instagram and many more. This is helping company in grabbing attention of
maximum number of people as a result; it will assist them in increasing its sales and profitability.
Other than this, company is using various kinds of communication tools and technologies for
having a better interaction with their customers (Baker, 2014).
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Therefore, all the points that are mentioned above are the roles and responsibilities that
are being performed by marketing department of Coca-Cola. Thus, company is manufacturing
goods and delivering them right on time and in context with customers it is satisfying their needs
and wants of customers in return. Along with this, Coca-Cola can make appropriate strategies
and plan of action so that firm can execute their plans in a better manner. Henceforth, it will help
companies in increasing its market shares and value in a particular area. Company is majorly
focussing on customers, so that products can be manufactured for meeting the needs and
requirements of its consumers (Batt, 2013).
P2 Roles and responsibilities of marketing related to Coca-Cola
In this current market scenario, maximum number of companies perform their activities
in order to gain profits. So, for gaining the same rival companies are giving excellent quality of
products and services to its customers in affordable price. As in this competitive environment
many companies are evolving and they are dealing in the same field so what important is that
Coca-Cola makes appropriate strategies and plan of action to make themselves unique in terms
of tastes and quality. Different departments in an organisation plays their role and helps
organisation in expanding their business in an effective manner. For having proper link with
various departments, it is important that company have effective communication tool because it
will help managers in delivering information to its subordinates effectively. Therefore, some of
the roles and responsibilities that are performed by separate departments are mentioned below
for having better understanding.
Marketing functions with operation department: Operation function majorly deals with
production process so it can be said that they look after the entire process of producing goods
whether it is done in a better manner or not (Babin and Zikmund, 2015). To sustain in the market
for a longer period of time it is crucial that Coca-Cola manufacture its products which are
excellent in quality so that they can be able to maintain the competitive benefits. Further to work
properly it is important that manager of both the departments maintains a mutual understanding
so that by coordination they can execute the plan in a better manner. Therefore, superior quality
of products will help company in grabbing attention of maximum number of people towards their
organisation.
Finance department with marketing functions: This department in Coca-Cola plays an
important role as they make budgetary plan which assist company in investing money in a right
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manner. As a result no extra money is being wasted. Therefore, department of finance go through
the different aspects that are present in the market environment because it help them in making
plans in a better way. In terms of buying new machineries for manufacturing goods Coca-Coal is
not having such kind of issue as it is a leading company and operates its business through out the
world. Making proper plan is not enough what important is that it is implemented and executed
in a right manner (Baker, 2014).
Sales and marketing functions: For increasing sales it is important that marketing
department functions properly as both the sectors are interlinked with one another. For example:
Coca-Cola is making effective advertisement which is helping them in attracting more and more
customers towards their organisation. Therefore, selling out of more products swill directly
increase the sales and profitability of the firm.
Research and development department and marketing function: In today's market
environment before introducing any product at market area company must have proper
knowledge about the areas in which they are launching. Therefore, this department help them
for the same as they evaluate and collect information about the specific market area which Coca-
Cola can use for making appropriate strategies and plan of action. Along with this, R&D
department helps company in knowing the demands and wants of customers (Batt, 2013) .
Human resource department with marketing department: HRM department can be said
as a backbone to any company as they help organisation by providing basic facilities. Their
major role is to select eligible employees by conducting recruitment and selection process.
Further, for improving skills and knowledge of workers human resource department implement
different training and development programmes which an individual can adopt accordingly by
analysing in which sector they are lacking behind. For example: from the candidates who are
selected if they are good in sales it will increase their selling process as compared to previous
years and if it is not so than a downfall can be seen that can have a negative impact on business
operations.
Functions of IT department with marketing function: Now a day's latest tools and
technology is assisting companies in performing their task in a better manner. As compared to
old times now company can access to whatever details they are required in just one click. Times
have gone when there use to be big books in which all the records were kept. Therefore,
invention of technology is the biggest revolution as it has made promotion much easier. In
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context with Coca-Cola they are using this for the purpose of promotion as it has enabled them in
broadcasting advertisement in an effective manner (Chinn, 2017). Thus, it can be said that
marketing function has become much easier for most of the companies. Along with this, it also
helps them in making proper decision for their future operations.
TASK 2
P3 Comparison of ways by which Coca-Cola apply marketing mix for marketing planning
Marketing mix is majorly used by most of the companies in order to evaluate the market
area where they want to launch or introduce their products. Basically, it includes four elements
which includes product, price, place and promotion. Further it can be expanded to people,
process and physical evidences. In terms of Coca-Coal, it is a big brand which can be found in
approximately 200 across countries. It includes some of the popularity drinks that can be
incorporated in health drinks, soft drinks and many more. Therefore, marketing mix of Coca-
Cola is explained below for having a better understanding:
Basis Coca-Cola Pepsi
Product As company is big they are
manufacturing goods that are
approximately 3900 beverages and in
current times they have become
recognised and valuable brands. Their
famous lemon flavoured soft drink
named Sprite was launched in the year
1961 and amongst all the products Fanta
is the second oldest brand from Coca-
Cola and was introduced in the year
1940. Along with this there are many
products in which Coca-Cola deals are
Diet coke, minute maid which is a juice
brand, powerade it is a energy drink etc.,
Pepsi deals in both beverages and
food products and this includes
7Ups, Mirinda, Mountain Dew etc.,
other than this, they have eatable
food items as well which involves
Cheetos and Lays and both are
helping company in gaining
maximum profits.
Price Pepsi is considered as a closet
competitors of Coca-Cola in the segment
Products that are manufactured by
them are reasonable at cost and
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of beverages. In context with Coca-Cola
they have set a reasonable price which
are affordable by humans. Their main
focus is to provide best quality products
so that they can sustain the brand loyalty
of their commodities. Therefore, with the
increase or decrease in the size of
products its price gets higher and lower
respectively.
they make alterations on the basis
of market area because of which
they are able to sell their maximum
profits and generating revenues in
speculated time frame. For
instance they are using many
promotional activities and
techniques for increasing its sales
and profitability.
Place Company has extended distribution
system for all its beverages. An
estimation of 1.9 billion serving of Coca-
Cola are sold every day and this includes
Europe, Latin America, North America
and Africa. Bottling partners plays an
important role in this as they help them
in packaging and distribution of its
commodities. Therefore, it is infact
growing a large growing which is using
its distribution channel in order to reach
to maximum number of people.
Unlike Coca-Cola, Pepsi is also
operating its business in different
areas. They are different
distribution channels with the help
of which they are delivering its
products to respective factory to
shops form where its customers can
purchase their products of their
choices (Desai, 2013).
Promotion Due to the increase in the competition at
market level most of the companies are
focussing on adopting various kinds of
promoting tools and technologies. As a
result it will help them in increasing their
sales and revenues. According to a study
in 2016 market expenditure of Coca-Cola
was $4 billion. In the year 2016, they
have launched its Taste the feeling
In recent times, many technological
tools and techniques are used by
different companies in order to
promote their activities so as to
meet all the demands and wants of
customers.
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Campaign that gained a lot of
recognition, Apart form this, TV ads and
outdoor campaigns and broadcasting
advertisements in social media has
helped the company in increasing their
sales and profitability. Till now Coca-
Cola has more than 1250 promotional
advertisement on its official channel in
YouTube.
People Company's relation with customers and
employees is very effective as they are
manufacturing goods in superior quality
which is enabling them in generating
monetary incentives and revenues.
Pepsi are producing goods so as to
fulfil demands and wants of its
customers so company is tasking
feedbacks from its consumers
related to taste so that they can
make modification and sell them
again in order to add values to its
commodities.
Process Coca-Cola is using a set intermediaries
which they are following since their
company was established. Their products
are manufactured with the same process
and it tastes same whatever product
customers are buying.
In context with Pepsi, they are
eliminating the use of high fructose
corn syrup from their products
which was a traditional step. This is
done in order to make people
healthy.
Physical
evidence
In terms of packing Coca-Cola has made
some modifications ans they are using
eco-friendly raw materials for the same
which are decomposable.
For packing their are using
different kinds of packing
philosophies which can be reduce,
reuse and recycle. As a result it has
influenced many people for
adopting their products (Diana,
2017).
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TASK 3
P4 Basic marketing plan for Coca-Cola
Overview of the company: Coca-Cola was founded by John Pemberton in 19th century. In
order to gain commercial success and with the curiosity of doing something new this product
was made. With the change in course of time this has able to gain popularity and now Coca-Coal
has become one of the leading companies in the sector of beverages. For making this product
company had tried lot of combination of fragrant, caramel, colour liquid and carbonated water.
During its initial years the product was served to limited number of people and later on in the
year 1888 their product was first sold in market area. Further they had done some modifications
with the look of the products as a result it helped them in attracting a large number of customers
towards their organisation (Durand and Barlow, 2012).
Vision and Mission: Coca-Cola is a big company and it is working with the vision of
providing best quality products to its customers so that they can give refreshed good beverages to
its customers. Whereas their mission is to make commodities that are excellent in terms of taste
as a result its is helping them in gaining maximum profits.
Goals and objectives: Company is working with the purpose of making superior quality
of favourite drinks which can satisfy the needs and wants of clients and customers. As other
companies manufacture goods for earning profits Coca-Cola is doing the same and it is helping
them in improving its market shares and value.
SWOT analysis of Coca-Cola: Every company has its own strengths and weakness which must
be considered so that company can make modifications in their commodities. Therefore, its
strengths, weaknesses along with opportunities and threats are explained.
Strengths: In the year 2011, Coca-Cola was awarded as one the highest brand equity, in
this year their market position was in top level as compared to other companies. Because they are
having unique taste for their products they are having a huge fan following in the market place.
In recent times they are operating its business in around 200 nations which is helping them in
generating a large number of revenues (Forrester, 2010).
Weaknesses: As they have not done any changes in the traditional making of the product
because they are using carbonated water at higher level which is injurious to health. In terms of
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Pepsi they have planed to eliminate using of all toxic products and its is enabling them in
attracting a large number of customers for buying their products. As Coca-Cola is selling only
beverages this is working as a biggest drawback.
Opportunities: By selling their products across the globe company has the opportunity of
increasing their sales and revenues. Therefore, they are amongst top brands in different countries,
other than this, they are shifting towards making healthy beverages.
Threats: As products manufactured by Coca-Cola need a lot of water and it is a biggest
issue in coming times because world can face a large scarcity of water and people will move
towards making natural and organic products which are not harmful for the environment.
STP of Coca-Cola: According to the current market situation segmentation, targeting and
positioning is an important factor which will enable them in identifying the nature and behaviour
of customers so that products can be manufactured accordingly. In terms of Coca-Cola, they are
taking feedbacks from its customers for a particular products (Gummesson, 2011).
Segmentation: It is done on the basis of demographic profile, geographical factor,
psycho-graphic element etc., therefore, Coca-Cola is going through all the factors before making
any kind of strategies which can be implemented in further business operations.
Targeting: Research and development department of Coca-Cola is providing them with
the basic information about the targeted customers of a particular area. They are manufacturing
goods that can be consumed by any age category or for others sectors of the society whether
from different geographical areas whether urban or rural area.
Positing: It depends upon the negative and positive image of the company because on the
basis of this customers purchase their products and commodities. Price is also one of the factor
that affects the same for getting into a better position. By making modifications in symbols and
silent attributes company can gain maximum benefits.
Marketing Strategies: For sustaining in the market for longer period of time, Coca-Cola
is making appropriate strategies and plan of action which is helping them in maintaining brand
equity, market analysis etc., therefore, it is assisting them in achieving all its goals and objectives
in speculated period of time. Other than this, they are considering all the factors that includes
external and internal environment (Jones and Rowley,2011).
Control and evaluation: To sustain in the market area company makes many marketing
plan that are related to sales and so it is important that company should have proper knowledge
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