Coca-Cola Marketing: Roles, Interrelation & Evidence Based Plan

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This report provides an in-depth analysis of Coca-Cola's marketing functions, roles, and responsibilities. It explores the crucial role of marketing in achieving organizational goals, highlighting specific responsibilities such as branding, customer support, and promotion. The report also examines the interrelationship between the marketing function and other departments within Coca-Cola, including HR, finance, production, and IT. A comparative analysis of two companies' marketing mixes is presented, followed by the development of a detailed, evidence-based marketing plan for Coca-Cola, aimed at enhancing its market position and achieving its business objectives. The analysis emphasizes the importance of tracking competition, fostering innovation, and managing budgets effectively to ensure marketing success.
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MARKETING ESSENTIAL
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INTRODUCTION.....................................................................................................................................3
TASK 1.......................................................................................................................................................3
P1 Roles and responsibilities of marketing function................................................................................3
P2 Interrelationship of marketing function with other departments within an organization.....................6
TASK 2.....................................................................................................................................................10
P3 &M3 Comparison of two companies marketing mix........................................................................10
TASK 3.....................................................................................................................................................12
P4 & M4 Produce detailed, coherent evidence based marketing plan for an organization.....................12
CONCLUSION........................................................................................................................................16
REFERNCES...........................................................................................................................................17
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INTRODUCTION
Marketing is the crucial tool in the modern business organization which lead them to
accomplish their pre-determined goal in an effective and efficient manner. However, it is an
activity as well as a processes for creating, communicating, delivering and exchanging offerings
that have value for customers, clients, partners and society at large. Additionally, marketing
widens the market size as it draws out the hidden wants of consumers, creates new demand,
locates the untapped areas and finds out the possibilities of selling new products (Ataman, Van
Heerde and Mela, 2010). As the marketing efforts widens the area of market, the producers can
utilize their resources otherwise remaining partly optimize to the maximum which enable them
to reduce the total cost per unit. This report is based upon Coca- cola, which is one of the leading
company in beverage industry as it commenced in the year of January 29, 1892. It’s
headquartered at Atlanta, United States and serves worldwide with a high or best quality of
products. This study includes roles and responsibilities of marketing function as well as its
interrelationship with other departments within an organization. Finally, compare the two
companies marketing mix and develop a new marketing plan in order to achieve to business
goals and objective in a best manner.
TASK 1
P1 Roles and responsibilities of marketing function
Marketing is the process of planning and executing the conception, pricing, promotion,
and distribution of ideas, goods, and services to create exchanges that satisfy individual and
organizational objectives. However, it is considered as one of the key determinants for
company’s growth and enhancement as it enable them to identify current or future trend of
marketplace in order to introduce best products that helps firm to attain higher level of
profitability ratio. Apart from this, Coca-Cola marketing function contains unique set of roles
and responsibilities that improves their potentiality to gain increased level of customer
satisfaction as well as to capture best positioning among competitive marketplace. Some of the
roles of Coca-Cola’s marketing business unit are as follows:
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Branding: In today’s competitive world of marketing and advertising, a key to success is
building a strong brand as it considered as the process of creating a brand name for product in
order to attain sustainable proficiency ratio as well as gaining competitive advantage in better
manner. However, Coca-Cola’s marketing department includes d3veloping a compelling,
positive and lasting image of business that generates an emotional connection with customer
which improves overall performance of firm and enlarge its market. One of the crucial role of
branding is to render unique or attractive brand name or same brand to all products of a business
firms (Bačík, Štefko and Gburová, 2014).
Customer support service: The key to marketing success is the satisfaction of the
customer. Therefore, an important function of marketing that is to provide various customer
support services like after sales service procuring credit services, handling customer complaints,
consumer information etc. These services help in getting, keeping and growing the number of
customers. Along with this, Coca-Cola’s marketing function is mainly focused on providing the
best possible customer experience and continuing customer relationship for acquiring sustainable
profitability and productivity. Moreover, Coca-Cola’s marketing unit id also specialize in
customer retention and solve complex issues that strengthen their market share as well as enlarge
their potentiality of achieving increased level of sales growth in a better way.
Promotion: It is a type of communication between buyer and seller in which vendor tries to
persuade the buyer to purchase their goods and services through promotion to capture the
attention of customer and generate maximum level of satisfaction. Apart from this, it is regarded
as one of the basic element in marketing mix which improves the public image of firm. There are
several methods to promote the product are personal selling, advertising, sales promotion, direct
marketing publicity and also involves exhibition, trade shows. Along with this, it is also relate
with providing information to the customers about the Coca- Cola’s products, their features,
uses, prices etc. and persuading them to buy these products for enlarging firm productivity ratio
and also boost up their capability in acquiring best positioning within competitive marketplace
(Baker, 2016).
As the marketing function has various roles to play within an organisation likewise it comprises
several responsibilities which help Coca –Cola to accomplish their long term goal in an
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impressive and productive way. Thus, there are some responsibilities which Coca-Cola Company
implies into their business operation are described as below:
Tracking the competition: It is one of the crucial responsibility of Coca-Cola marketing
functional unit as it lead them to obtain higher level of profit maximisation with an optimum
utilisation of resources in an effective manner. However, this function is obliged for researching
the competition and keeping up with them to know what they are doing , which products they are
launching ,what are the weaknesses of the competitors and how to avoid making the same
mistakes as the competitors. It is also essential to know how the company is placed in relation to
its competitors, why the customers prefer the other companies, what customers the competitors
target and the relationship they have with their customers. Moreover, it helps Coca-Cola to
analyse marketing trend in order to create a better customer relation strategy that lead them to
attain high level of profitability ratio.
Flexible and innovative: For sustaining longer time within today’s marketplace, every
company should contain adaptable nature which improves their overall performance in an
impressive manner. However, under this function Coca- Cola takes an initiative to evaluate the
current demand of industry and based on that it brings novel ideas or technologies in order to
obtain maximisation of profit in a productive style. Thus, Coca- Cola introduces all updated
technologies into their business operation as well as implies creative ways or thoughts that
enable them to provide increased level of customer satisfaction in a productive style (Brooks and
Simkin, 2012).
Ascertaining budget: It also involves estimating the overall cost in order to carry out all
business activities or operation in an impressive or effective manner. However, they are mainly
obliged to provide all relevant information to public for promoting the Coca-Cola’s product
which helps them to capture the attention of customer and it directly reflect on enlarging firm
market size. In order to attain the same, they calculate overall expense and according to that they
follows various promotional activities for gaining competitive advantage in an effective or effect
manner.
However, the above discussed roles and responsibilities allow Coca-Cola to boost up
their sales growth and also to render increased level of customer satisfaction by providing high
and best quality of products or service in an affordable manner. Due to this, they can easily
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capture the attention of wider crowd towards company products and can survive within
competitive industry for a longer period of time.
M1 Analyse roles and responsibilities of marketing
Marketing has various roles and responsibilities in case of wider organisational context of
Coca-Cola company as it help them to achieve the target by collecting information of industry
for developing suitable product which lead them to acquire high level of customer satisfaction.
Along with this, it encourage Coca-Cola to adopt innovation or creative ways to carry out their
business operation which lead them to enhance their market size or share in an impressive
manner.
P2 Interrelationship of marketing function with other departments within an organization
The major purpose of marketing is to execute activities associated to exchange of goods
from the final consumer to the producer of the product. This is usually done with the motive of
cumulative the satisfaction level of customer's (Dann, 2010). Howver, Marketing is the
unremitting process of creating, anticipating, identifying and satisfying the needs of potential
customer's. Marketing function generally involve of creation of plans which are linked to what is
to be produced, how it is to be produced, when it is to be produced and for whom it is to be
produced. With the help of this establishment aims at completing goals in the operative manner.
Growth and survival of business directly hinge on upon various marketing strategies used by the
management of the organisation. In the absence of marketing organisation would not be able to
make the customer's aware about existing products and services. Improper marketing function
can also tip to decrease in sale and market-share of the organisation. Marketing department and
other departments of Cadbury are inter- linked and inter- related with each other. Any
modification in plan and working structure of one department can lead to negative affect on
another departments. The inter-relationship of marketing department with various other
departments of Coca-Cola are discussed below-
Marketing with HR department- These two departments plays a major role in
accomplishing the goals and target of the organisation within limited period of time. If the HR
department is capable to hire and recruit skilled candidates for its marketing department. Then
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employees will be competent to give their best output in causative growth of the organisation.
Skilled workforces will contribute new and innovative ideas for enticing large number of
customer's in the market. Best candidates are hired by using innovative techniques such as
campus recruitment, social media, etc. Marketing and HR department of Coca- Cola are inter-
related with each other. As these two departments can help the organisation in increasing brand
image and reputation of the organisation in the best possible manner. As Coca- Cola marketing
function conduct various strategies like campus interview, advertisement, job fare and many
more to attract talented or capable personnel who will contribute their best effort toward an
attainment of increased level of sales growth and productivity. (De Vries, Gensler and Leeflang,
2012).
Marketing with finance department- With the assistance of these two sections
productivity and profit of the organisation can be directly increased. If the management of Coca-
Cola desires its marketing department to function well than sufficient amount of fund will be
required for the same. This can only be generated from finance department. Marketing function
also implements deeds such as sales promotion, public relation, direct selling, etc. Fund for
these actions are generally provided by finance department. With the help of these two
departments Coca-Cola can easily attain competitive advantage in the market for longer period
of time. Thus, for successful marketing Coca-Cola must have strong base of finance because
with the help of these funds company set goals for marketing like sales target, price and many
more in order to accomplish organisational pre-determined goal in a productive manner.
Marketing with production department- It is very much crucial that marketing department
and production division combine forces with one another. The work of production department is
to produce and manufacture goods as per demand of the customer's. While the work of marketing
department is to fascinate large number of customers attention and to satisfy their unlimited
necessities and wants. If the marketing department of Coca-Cola is unable to recognize precise
demand and taste of its customer's. Then production section may not be able to produce goods in
the organized and coordinated manner. This can also lead to wastage of available resources in the
organisation. If these two departments are able to function in the harmonized way then overall
growth of the organisation can be easily attained (Dudzevičiūtė and Peleckienė, 2010). However,
Coca-Cola marketing unit takes an initiative to evaluate marketing trend and according to that
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update production function which help them to deliver best quality of products and it lead them
to acquire best positioning among competitive marketplace.
Marketing department with IT department- The work of IT department in Coca-Cola is to
make use of latest tools and technologies for manufacturing and selling the product. With the
help of these two departments cost of Coca-Cola can be easily saved. As the management of the
organisation will be able to perform various activities in the methodical and anticipated manner.
IT department can also help marketing department in developing online website to escalation
performance of the establishment. As with the help of these websites customers can be made
aware about the existing and new product of the organisation. Along with this, Coca-Cola
customers are also privileged to provide their valuable reviews regarding their experience which
allow frim to implement best strategic decision for achieving increased level of market share and
also proficiency ratio.
Marketing with Research& development department- Research and Development is
related with exploration done by the by organisation to discover new or innovative ideas for
enticing large number of customer's. This department ensures that marketing activities are
successfully performed and firm holds long term profitability. This provide competitive
advantage to a firm by providing necessary information to marketing department. The main aim
of marketing and research department of Coca-Cola is to maximise the sale and profitability of
the organisation in the best possible manner. Through proper research and development or
utilisation of resources the need and current trends in market can be identified and applied
(Ehret, Kashyap and Wirtz, 2013). The difficulty arisen in marketing department are solved by
research department by deeply analysing the problem and providing apposite elucidations for the
same. Research department of Coca- Cola specifies the environment in which marketing
activities will operate. With the help of R&D Coca-Cola can easily analyse that improvements in
the existing product will be required or not. This can lead to giving better competition to the
competitors which are operating in same type of industry. Additionally, firm marketing
departments takes an effort to analyse the present market situation and based on that they make
best plans in order to survive during high level of competition in an effective and efficient way.
From the overhead conversation it can be said apt plans for functioning of marketing
department and other departments can lead to growth and profitability of the organisation in the
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best possible manner. The major function of marketing department is to determine accurate need
of customer's and make plans for increasing their experience. Marketing majorly works with
taking various kinds of risk by using innovative techniques and ideas. But these ideas can be
failed in the market if ideas are not implemented after properly analysing the market conditions.
Cadbury can easily achieve its targeted goals and objectives if each and every activity is properly
managed by the top management (Hsu, 2011). As with the help of these opportunities available
in the market can be easily identified. Plans can also be formed for reducing threats in the
external environment of the organisation. It is very much essential and significant to inter- relate
various departments of the organisation. As with the help of this function strategies and action
plan of the competitors can also be known by the management of Cadbury. For achieving the
goals and target of the marketing function skilled and talented candidate needs to be hired by the
organisation (Ionita, D., 2012). As these employees will give better ideas for completing the
work in the prescribed time frame. If the major focus is done on evaluating and operating the
marketing function in the proper manner than long and short term goals of the organisation will
be easily achieved.
M2 Analyze the significance of interrelatedness between marketing and other business units in a
firm
As the business grows, it is important that departments within an organization must
actively work together to help in achieving mutual long term goals. However, each of the
functional unit requires each other support and it help them to maintain over their cost as well as
allow them to product best or high quality of product or services in order to attain high level of
customer satisfaction. It is determined that relationship of marketing with other department in the
Coca-Cola is very vital and substantial to increase the profitability and efficiency of an
organization. Companies prerequisites to emphasize and focus on encouraging this relationships
with each other (Cabrera and Williams, 2014).
D1 Critically evaluate and analyze the elements of marketing and its its inter connection with
various functional units within organization
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As per the above discussed content, it has been noted that marketing is one of the
essential function in Coca-Cola Company as it directly linked with providing higher level of
satisfaction to customer in order to acquire sustainable profitability ratio. However, there are
various roles and responsibilities of marketing which encourage them to analyze current and
emerging trend of market so that they can come up with innovative or creative product that lad
tem to strengthen their sales growth in an impressive style. Along with this, Coca-Cola
comprises several departments which are interlinked with each other for accomplishing
organization common goal or objective within prescribed time limit without nay hindrances.
Thus, each Coca-Cola functional unit provides their equal participation with marketing for
promoting their brand in an impressive manner as well as to improve their overall performance
in a productive manner.
TASK 2
P3 &M3 Comparison of two companies marketing mix
Marketing mix is the concept of various the marketing based constituents such as price, place,
product and promotion which is also termed as the 4P’s of marketing mix. Product is both
tangible and intangible in nature and price shows it’s the real value and status. Due to increased
competition, these two things are necessary for sell and earn purpose. But to sell, its necessary
that that the product should be promoted or being aware to an audiences (Chen,Wang and Wang,
2010). Also, it should have the right places or location, in context with Coca-Cola, marketing
mix is helpful to know about uniqueness and positive of business functioning such as its product,
price, promotion and place. In this assessment, comparison of marketing mix of Coca-Cola and
PepsiCo will be undertaken and covering 7 Ps of the marketing mix. The Comparison is as
follows:
Elements Coca-Cola PepsiCo
Price Coca-Cola is mainly known for its
taste and flavor of the soft drinks,
instead of its pricing. It deals in price
sensitive market, where its rival
PepsiCo is giving cut throat
PepsiCo is well known for its soft
plus beverages segment. In price,
PepsiCo is currently using
extensive pricing, in which focus
is being on price for quality rather
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competition in current era. In matter
of price, Coca Cola uses price
penetration on existing and price
skimming on new products. This
would be helpful to gather revenue.
than price for product. Due to the
tough rivalry for Coca-Cola has
started putting focus on taste and
bringing customer loyalty.
Product Coca-Cola has almost 3900 product
in its portfolio all over the world and
including Coca-Cola which is one of
the most recognized and highest used
product till date. Also, Frooti is one
of the world popular product made up
of the mango and known for its taste.
PepsiCo has large soft drink and
beverages retail chain, in which
eatery such as freetos and Doritos
are exist which is good or perfect
in taste. Due to regular usage, it
gives major income to this brand.
Place Coca-Cola has an extensive soft drink
distribution system all over the world
including Latin America, Europe and
Middle east Asia. Due to its
distribution system, reach of its item
is high and even without spending
quite low (Daniel, 2011).
PepsiCo distribution system is
unique, in which only supply
when there is the actual needs or
wants. This is unique to save cost
and generates higher revenue.
Promotion In the soda drink industry, firm has
now started spending huge on global
advertising using both modern and
traditional channels to promote
products. Still Coca-Cola spends less,
but their product identity is unique
and good.
PepsiCo ability to do promotion
is somewhere unique and based
on product to promote itself
because of its unique point or
matter. Due to increased
promotion platform source for
revenue has become high for this
leading beverage brand.
People Coca-Cola has almost 6 lacs people
working in all over the world and
they are all working with some
defined aim or purpose. This is a
PepsiCo has 5 lacs people works
together with purpose to expand
the product reach to its customer
with a unique manner. This is
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uniqueness about this soft drink
industry, that people role is to pass
from production to final customer
with their tactics.
necessary for soft drink business t
have skilled and unique
manpower.
Process Coca-Cola has many production units
in different part of the world which is
mainly used at times of the coke
filling process. They uses regular
innovation in its process focused on
advance technology to manufacturers
or filling process in bottles (Dann, S
2010).
PepsiCo takes help of third party
people, strategic alliances with
bottle maker and focuses on cost
reduction out of the same process.
Due to increase in advance
technology, cost of process is
somewhere rise as because of
third party involvement.
Physical evidence Coca-Cola has its headquarters in city
of Atlanta and other different units in
different part of the world such as
India, Australia, UK and Europe.
They are unique in their physical
appearance and have wonderful
environment for people to work.
PepsiCo has its headquarters in
city of Chicago and also in other
regional part of the world. Due to
increase in perfect reach of the
product such as soft drink and
eateries are quite high and
focused on its reach to customer
with workforce ability and
support of an infrastructures.
Coca-Cola needs to use all this marketing mixes with executed actions plan along with
getting the optimum results of all seven variables. In order to launch any new product, this soft
drink chain have to realize the market scenario, before implementing such variables for the
purpose of efficiency and profitability. Also, this leading soft drink brand need to keep analyzing
marketing mix and find flaw such as ineffective pricing, product failures, ineffective promotion
and retrieving places such as distribution process. For this effective strategies such as
undertaking of the market, process and its up gradation is need to be consider to takes decision
for better growth and productivity.
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