Marketing Management: Coca-Cola's Strategies and Market Orientation

This report provides a comprehensive analysis of Coca-Cola's marketing management strategies in Nigeria, focusing on its market orientation and the impact on strategy formulation, implementation, and planning. The report begins with an introduction that outlines the role of marketing in achieving organizational goals, particularly in delivering value to customers. The main body delves into the importance of market orientation, illustrating how Coca-Cola adapts to consumer needs and preferences within the Nigerian market. It examines the influence of market orientation on strategic decisions, including product, price, place, and promotion strategies, and how Coca-Cola tailors its approach to the Nigerian context. The report also explores how Coca-Cola identifies its target market, utilizes marketing mix strategies, and leverages social media to connect with dealers and customers. The conclusion summarizes the key findings, emphasizing the effectiveness of Coca-Cola's marketing efforts in Nigeria, including the introduction of disposable bottles, competitive pricing, and its extensive distribution network. The report references relevant academic sources to support its analysis.

Marketing
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. Role of marketing in achieving goals......................................................................................1
2. Illustrated what it means to be market orientation..................................................................2
3. Discuss how being market oriented affects strategy formulation, implementation and
planning.......................................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Marketing management is smooth procedure of determining, planning, application as
well as control programmes which are exclusively designed to perform desired exchanges in
order to accomplish set goals & objectives. It represent careful analysis of definite programme
by predicting the dynamic market trends based on which plans are formulated to accommodate
the target market need and attain the predetermined objectives (Bang, Joshi and Singh, 2016).
This report based on the Coca Cola company which is a recognised brand and is fastest of
growing multinational enterprise in Nigeria. The company has significantly touched with
different lives due to happen World War 2nd Retro Planet (2008). To assess the marketing
strategies in terms to diversify its business within overseas markets, mainly in Nigeria analysis
the strategic response to tap into right market. In this report consist of role of marketing in
accomplishing goals and deliver value to customer on time. Along with analysis market oriented
and affects on strategy formulation, implementation and planning.
MAIN BODY
1. Role of marketing in achieving goals
In present time marketing plays significant role in order to set up effective relation in
between customer as well as organisation offering to the market. Marketing is responsible for
selecting and arranging the agencies as well as suppliers who provides material on time. Herein,
Coca Cola international marketing plays essential role in terms to undergo with divedrse
marketing mix decisions which suitably fits across global countries. In this situation marketing
analysis helps to collect all relevant information to tap into international market and according to
that prepare strategies. In this type of marketing set up manufacturing facilities for overseas
market and effectively coordinating diverse marketing strategies all over the globe. Primary
goals of an organisation is apply effective marketing techniques to add value for a product
because of accomplish specific marketing goals. The objective of the Coca Cola to cover large
market area in Nigeria. Thus, marketing prominently consider future economy, determine
advantageous of the product, the offerings need to be easily available, enhances smooth and easy
service to customer and fulfil the requirement of customer (Barbu, Buzoianu and Margina,
2017). There are discussed different roles of marketing in context of Coca cola such as:
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Identifying target market – Coca Cola wants to tap into Nigeria so according to that
target customer for the product. They are using marketing mix strategy to make products that
satisfy the needs of international customers. Based on this strategy company surveyed and
disclosed for easy acceptable of business in Nigeria. There is applying marketing segmentation
in business for which strong choices are made for better market segmentation. There are
focusing on specific characteristic and concentrate on income level, age or occupational profile.
There is recognised large number of segmentation in which take decision to apply one segment
or all the segment (Chonko and Hunt, 2018).
Monitoring and managing social media: To cover large market in Nigeria require to
promote their products on social media and try to connect wit dealer who wants to sell out these
products in the market. The dealer have knowledge about this market so according to that sell out
the product and attract customers. The staff members required to understand the values, goals &
objectives of business. Marketing often liable for employees communications by a news letter
and intranet.
Set up effective pricing strategies to identify progress: Due to changes in technology
company set effective pricing strategy such as products strategy, price strategy and place
strategy. In product strategy use product life cycle to facilitate marketing of firm's products and
in price strategy forecast the response of competitors and apply price skimming and penetration
strategy. In the starting marketing helps to set discriminating pricing that change as per the
situation. Along with in place strategy consist of various distribution channels, transport and
arrangement. Through these strategies company analysis the progress report and according to
that take further decision in regard of investment.
2. Illustrated what it means to be market orientation
Market orientation is an approach which is applied by business that based on the
priorities recognising needs and requirement of consumers and developing products to satisfy
them. According to this approach business response to what customer want after that taken
decision that are depended on the around information about customer taste & preferences instead
of what the business thinks is right about customer (Crick and Crick, 2016). Coca Cola company
wants to rapidly expand in Nigeria for which it require to spent adequate amount to know market
trends and customer taste & preference. According to that a company manages various shows in
Nigeria tertiary institution which is better sales promotion and advertisement technique. The
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main benefit of market orientation to enhance business volume and market share, increased
customer satisfaction and loyalty. Along with it helps to coca cola to increase creation through
listening about customer requirement and according to that fulfil all the expectations. Continuous
improvement of efficiency and effectiveness. For example: Nigeria wants to enhance market
activities in to Nigeria for this require to analysis marketing activities and know interest of
people in regard of drinks according to that they are preparing effective strategies for people
(Ellram, and Murfield, 2019).
3. Discuss how being market oriented affects strategy formulation, implementation and planning
Market oriented impact on the business strategy, formulation, implementation and
planning in direct manner. Firstly company conduct research in Nigeria market to analysis
consumer taste & preference in regard of their products. Coca Cola wants to enter into Nigeria
market so according to that focus on the socio cultural, economic and technological grouping
that comprises with the environment of international market. As per the opinion of Evans and
Berman (1990), marketing in the anticipation, stimulant, legislation and facilitation the demand
of public for product, service, organization, people, idea and place by exchange procedure. Thus,
marketing Impact on strategies formulation: As per the strategy analysis path and scope as per the
establishment in over term in which getting advantages for business by its arrangement of
resource within a demanding atmosphere. In strategic formulation consist of planning and
decision making consist of in improving organization's strategic goals and plans. When
Coca Cola analysis the customer behaviour and their priorities so according to that set
effective strategies and apply changes in exist strategies that set by the company. They
are focus on pricing, product and place strategy and according to that apply modification
in strategies. To apply any strategy require to Implementation: There are consisting of all related formulation the strategic plans. In
simple words, implementation is placing the forces before taken action. Coca cola already
follow price skimming strategy but in Nigeria apply price discounting strategy in which
changing price as per the situation (Gregory, Ngo and Karavdic, 2019). There are
conducting Porters five forces in which recognise that threat of potential entrants based
on the six sources of barriers to entry like economies scale, access to distribution and
many others. Along with bargaining power of the suppliers no substitute product
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available and exist small number of supplier. Before implementation Coca Cola focus on
every step after that apply strategies according to market orientation. There are providing
priority mainly customer and according to that changes strategies and their
implementation (Naudé and Sutton-Brady, 2019).
 Planning: According to market orientation analysis market trends and planning about
further activities that conduct by the Coca Cola in Nigeria. There are company
conducting marketing mix where focus on 4P's in order to take consideration and
following factors like product, price, place and promotion. There are planning about the
product according to market orientation and complete on time.
CONCLUSION
As per the above discussion it has been concluded that marketing management is
effective approach which is applied by the organisation to manage marketing activities
effectively and according to that manage all the strategies that prepare for the business. The Coca
Cole has been growing in Nigeria with human oriented strategies where make efforts for growing
in the nation. As a result Coca Cola get attention from the public in regard of their products,
production of standard offerings, provide facilities for after selling services, obeying legal law as
well as political structure of prevailing country. In Nigeria they introducing disposable bottles
and charge reasonable price for final products. Furthermore, the firm has around 12 strong
factors plants in which 60 depots and over 41000 trader of Coca Cola products.
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REFERENCES
Books and Journal
Bang, V. V., Joshi, S. L. and Singh, M. C., 2016. Marketing strategy in emerging markets: a
conceptual framework. Journal of Strategic Marketing. 24(2). pp.104-117.
Barbu, C. A., Buzoianu, O. and Margina, O., 2017. The management of ecological marketing of
tourism firms. Calitatea. 18(S2). pp.46-49.
Chonko, L. B. and Hunt, S. D., 2018. Reflections on ethical issues in marketing management:
An empirical examination. Journal of Global Scholars of Marketing Science. 28(1).
pp.86-95.
Crick, D. and Crick, J., 2016. The first export order: A marketing innovation revisited. Journal
of Strategic Marketing. 24(2). pp.77-89.
Ellram, L. M. and Murfield, M. L. U., 2019. Supply chain management in industrial marketing–
Relationships matter. Industrial Marketing Management. 79. pp.36-45.
Gregory, G. D., Ngo, L. V. and Karavdic, M., 2019. Developing e-commerce marketing
capabilities and efficiencies for enhanced performance in business-to-business export
ventures. Industrial Marketing Management. 78. pp.146-157.
Naudé, P. and Sutton-Brady, C., 2019. Relationships and networks as examined in Industrial
Marketing Management. Industrial Marketing Management. 79. pp.27-35.
Salo, J., 2017. Social media research in the industrial marketing field: Review of literature and
future research directions. Industrial Marketing Management. 66. pp.115-129
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