Marketing Analysis: Roles, Interrelations, and Coca-Cola's Strategy

This report provides a comprehensive analysis of the marketing strategies employed by Coca-Cola. It delves into the roles and responsibilities of marketing functions, including strategic planning, brand management, market research, promotional strategies, product design, and customer support services. The report examines how these functions interrelate with other organizational departments and their significance in achieving business objectives. It highlights the importance of understanding customer needs, building brand value, and implementing effective promotional campaigns. The report also explores the application of the marketing mix to compare Coca-Cola with its competitors and evaluates the marketing plan's role in achieving business success and mitigating risks associated with new product launches. The report emphasizes the importance of marketing in a competitive global business environment and how Coca-Cola utilizes various marketing strategies to maintain its market position.

Marketing
Essentials

Contents
TASK 1.....................................................................................................................................3
P1. Roles and responsibilities of the marketing functions..........................3
M1. Analysis of roles and responsibilities of marketing..............................5
P2. Interrelation of different organisational department with
marketing functions.....................................................................................................6
M2. Analyse the significance of Interrelationship..........................................7
D1. Critically analyse and evaluate the elements and functions of
marketing and how they interrelate with other functional units............7
INTRODUCTION
Marketing is an important tool in business era, as it involves understanding
of market place, requirements and demands of customers and marketing
strategy for business (Perreault, 2018). Marketing refers to the study of
managing and exchanging the relationship among customers and companies
in order to ensure satisfaction of both (The Role of Marketing, 2019). It is a
major component for every organisation for gaining quick growth and
success. The current market within the global business environment is
emphasising more on marketing their offerings effectively (Perreault, 2018).
Businesses need to understand the importance of customers and try to be
innovative in the market. This assignment is in the context of Coca cola
which is an American multinational company and deals in non-alcoholic
beverage and syrups, headquarter in Atlanta, Georgia, U.S. It includes the
roles and responsibilities of marketing functions and how they relate with
organisation. It describes that the company is investing in a new product and
want that the members of company also involved in it. It also describe that
how roles and responsibilities of marketing is related to various departments
of organisation and also analyses the interrelationship among the functional
units of an organisation. It also make comparison of an organisation with its
competitor by applying the marketing mix in order to achieve the objectives
of business and finally it evaluate the marketing plan for an organisation
which helps in achieving the success and cover risk factor for its new
product.
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TASK 1
P1. Roles and responsibilities of the marketing functions
Marketing is a universal process which involves buying, selling,
transportation, financing and many more which helps in securing the
marketing information (Eng, 2017). These functions are common in
organisations and includes market research, planning of product, sales,
promotion, finance etc. By these functions company can easily expand its
business in various countries. There are some roles and responsibilities of
marketing functions:
The first role of marketing is strategic marketing plans, it is a
document which involves strategies, policies, objectives and many more. In
this plan these elements are discussed which should be implemented or
considered by the marketing department. Marketing plan is beneficial for the
marketing department in conveying the different aspects of product to
employees and other departments as well. Marketing department of every
organisation develops the marketing plan in aligning with the organisational
strategies (Baker and Magnini, 2016). Plans and policies are essential
because it helps in success launching of a product and Coca cola use this
function before launching its new product in market and know the
requirements and taste of their potential customers.
Second role is brand value, Brand is a representation of products, services
and company's shares. Branding is a kind of marketing strategy which is
managed by the CEO or the senior management and marketing heads as
well. Moreover, marketing department is responsible for creating the image
and ideas that communicates the brand values in an appropriate way. Every
organisation must ensure that the marketing department must convey these
ideas in a consistent and unified manner (Haywood, 2019). It is considered
as the goodwill which helps in attracting the customers towards the
company. It is used by companies to develop their customer base and retain
them for long period of time. Coca cola use this method as they have good
brand image across the world which helps in success launching of their new
product.
Another role is promotional strategies which depicts that the
marketing department should develop these strategies to carry out
promotions to attract the customers. These strategies revolves around the
budget, targeted audience and action plan. Therefore, Coca cola need to
determine the trends among customers by observing them on social media
for developing their action plan (Rudden, 2016). Also, company need to
focus on the social campaign for creating awareness among customers
regarding their product. It is considered as the social strategy in which
companies attract people through emotionally or persuade them. It is a kind
of open promotion which is more useful in attracting customers to purchase
products. Coca cola use this as it is helpful in increasing the productivity
and performance of an organisation.
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Its another role is product designing and development, as it helps in
attracting the customers towards an organisation. It is performed by
marketing department in order to attain the competitive advantage of
business environment. In modern era, both cost and design of the product
matter for the customers as it helps in developing the customer base. It is a
process of strategies and tactical actions which helps in generating the new
ideas for product or innovation which helps in designing the product. Coca
cola use this while designing their products such as bottles, labels, slogan
which helps in increasing the customer base. Moreover, instead of moving or
changing its label, coca cola decided to develop the family of cokes.
Storage or warehousing is also the role of marketing, which
depicts the difference between the consumption and production of goods. It
is an important function of marketing as it states that companies should store
their products and services for the future demand of their customers as
demand is uncertain. Storage of goods are necessary in order to avoid delay
in the delivery of products and services. This function is not only for the
manufacturers, but also for the retailers and wholesalers. Coca cola use this
in order to store or keep their products for the future purpose. Moreover, it
helps the company in stabilising its prices by analysing the fluctuations and
facilitating the even supply of their offerings.
Last but not least customer support service, if an organisation want to get
success in the market then, customer satisfaction is their main objective
because customer is the king of the market. Therefore, every organisation
need to perform various marketing functions in the context of customers
such as after sales services, handling customers complaints and information
etc. These services helps the organisation to build a loyal customer base. For
Coca cola, their customers matter for them as they will decide the success or
progress of business. Hence, company need to retain their old customers in
order to build new customer base.
Roles and responsibilities of marketing in marketing environment
Marketing department plays various roles and responsibilities for
ensuring the success of organisation and customer satisfaction (Pappas,
2017). This department is also responsible for performing several roles in the
highly competing marketing environment so that it can provide resources to
the organisation for staying ahead of the rival firms in the market. Some
roles and responsibilities are discussed below:
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Its first role is defining and managing the brand, it includes defining the
aims, vision, mission and objectives of the company. It is important to attract
the customers so that they do not purchase the products of rival company.
Marketing department organise the campaigns for improving the brand
image among the customers. Here, marketing department should define and
manage the brand and for this they need to make proper plan and policies
which is helpful for them in launching their products successfully. Moreover,
it helps in eliminating the risk factor which helps in attaining the competitive
advantage.
Second is market research, this role is perform to determine the
requirements of customers. This research is useful in determining the
demand and expectations of the market from the company through which the
offerings can be supplied (Chinn, 2017). To conduct this research,
marketing managers hire professionals. It is the foremost responsibility of
marketing department to conduct research which is useful as it determines
the behaviour, requirement, taste and demand of customer and by this, it
becomes easy for them to launch the product. This research involves
gathering and organising the required information which is necessary in
order to target the market and also in gaining the targeted marketplace.
M1. Analysis of roles and responsibilities of marketing
The above discussed roles and responsibilities are essential for
marketing manager or department in order to launch the product with less
risk or to gain the competitive advantage of business environment.
Marketing is the way which helps in analysing the opportunities of market.
Marketing functions are common in the organisations as it involves
marketing research, plans, promotion, customer service and many more.
These functions include various responsibilities of the company and also
responsible for the success of the company. These functions have various
roles which promote growth of the business. These roles and responsibilities
which are performed by marketing department of coca cola helps them in
attaining sustainability and profitability of the marketplace.

P2. Interrelation of different organisational department with marketing
functions
In every organisation it is necessary for the marketing department to
coordinate with other departments because by this coordination, marketing
as well as other departments can work effectively and efficiently and can
achieve their desired organisational goals. Interrelation of marketing
department with other departments are as follows:
Marketing and HR department: HR department is responsible for
the recruitment in an organisation regarding the vacant post whereas
marketing department promotes job vacancies on different platforms to
attract the customers (Caragher, 2016). Both the department need to work in
coordination in order to gain the success for business because departments
are interdependent on each other. Therefore, in Coca cola both the
departments fulfil each others requirement as HR department provide
capable workforce to marketing department and ensure their proper
development according to the job position. Meanwhile, marketing
department advertise vacant position in market so that potential candidates
can be attracted towards firm. It develops firm's brand image and reputation
in the business environment which helps in increasing the sales and
productivity of an organisation. So, to attain the organisational goals both the
departments need to cooperate with each other.
Marketing and Finance department: Finance department provides an
adequate budget for the research and promotion of products to marketing
department. Whereas, marketing department promote the products in order to
increase the productivity and goodwill of an organisation (Marketing and
Finance 2019). (Dessain, 2016). In Coca cola, both the departments work in
coordination as finance department provides the budget and marketing
department helps in increasing the sales and revenues. Therefore, both the
departments need to work closely in order to gain the competitive advantage
of business environment.
Marketing and Production department: Marketing department
collects information about the needs and requirements of the customers. For
this, they do survey and prepare a report which is further forward to the
production department and they uses the report in order to produce product
according to the requirements of the customers within the reasonable price
(Moll, 2016). These departments are interrelated with their names as if one
department does not fulfil their duty then their work gets delay and it can
decreases the growth of an organisation. In coca cola, its marketing
department helps in their designing and physical appearance of products
whereas production department converts the raw materials into final products
which are deliverable to their potential customers.

Marketing and IT department: IT department in an organisation look for
maintaining and managing the IT equipments and data. Whereas marketing
department perform their work by getting help from IT department as
different equipments and software are required by marketing department
(Brychkov and Domegan, 2017). In every organisation both the departments
need to work together for performing their work in an effective manner. In
coca cola, IT department manages the technical issues or its website for the
better experience of their customers whereas marketing department market
the products or advertise them in online world.
M2. Analyse the significance of Interrelationship
These above discussed departments are working together due to
which they are providing their maximum contribution for achieving
organisational goals. This effective coordination becomes the reason by
which firm gets success and due to which company successfully expand its
business in different regions. The above discussed departments contribute
their better efforts in the organisation due to the interrelation as they are
getting the required information from each other due to which they properly
working in their assigned task. Therefore, their interrelationship describes
that how effectively these departments work in order to achieve success in
the market and their interrelationship represents their importance with
marketing activities. Marketing is interrelated with various other
departments of organisation. Marketing department convey information to
market regarding products and services of company which helps in
improving sales. Finance department provides budget to marketing
department for running its activities in proper way. This interlink plays
crucial role in growth and success of organisation.
D1. Critically analyse and evaluate the elements and functions of marketing
and how they interrelate with other functional units
Marketing is a process which helps in exchanging the products and
services in the business environment. It describes the roles and
responsibilities of marketing manager which they need to consider or fulfil
before introducing or launching a new product in the market. Various roles
and responsibilities are used in order to determine the position of company
and how they interrelate with other functional departments. It discuss that
how the above discussed roles are important for the departments of
organisation and how they interrelate with each other. marketing department
interrelated with each other. As research is most important because it helps
in analysing the behaviours, demands and need of their customers. In
addition to this, there is a strong link among the marketing functions with
other organisational functions of an organisation. Their interrelationship
describes that marketing functions are important as they are the back up for
other operational departments of an organisation and need to perform their
functions effectively. Like if business organisation want to implement a
marketing plan then they need support of financial department, HR
department, production department and many more. For this, marketing
department need to coordinate with other functional units which helps in
smooth functioning and running of an organisation.