The Coca-Cola Company was originally established as the J. S. Pemberton Medicine Company, a co-partnership between Dr. John Stith Pemberton and Ed Holland. Dr. John Stith Pemberton for the first time produced the syrup for Coca-Cola on May 8, 1886.
The Coca-Cola formula and brand was bought in 1889 by Asa Candler who incorporated The Coca-Cola Company in 1892. Besides its namesake Coca-Cola beverage, Coca-Cola currently offers nearly 400 brands in over 200 countries or territories and serves 1.5 billion servings each day.
The Coca-Cola Company is the world’s largest company, refreshing consumers with more than 450 sparkling and brands. Along with the coca-cola recognized ...view middle of the document...
The Coca-Cola Company exists to benefit and refresh everyone it touches. For us, Quality is more than just something we taste or see or measure. It shows in our every action.
1.2 :MARKETING MIX
Marketing mix refers to the four main elements of marketing that can be varied to meet consumers’ needs more effectively and hopefully, increases sales and profits. The marketing mix is probably the most crucial stage of the marketing planning process. This is where the marketing tactics for each product are determined. The marketing mix refers to the four factors (Product, Price, Promotion, and Place) that make up the core of a business’s marketing stategy.
Marketing strategies are the means by which marketing objectives are achieved. They are generally concerned with the 4P’s of the marketing mix. In practice there are many different marketing strategies that can be pursued to reach a given corporate objective. For example, an objective to improve profits may be achieved by developing new products, modifying existing products, varying pricing policy, devising a promotions policy and/or changing distribution channels for the Coca-Cola Company. Criteria for evaluating individual marketing strategies include:
Does it conform to overall corporate strategy?
Does the firm have the correct organizational structure?
Does the firm have sufficient resources to see strategy through?
Does it make use of strategic strengths?
Does it reduce organizational weaknesses?
Does it exploit market opportunities?
Does it reduce major threats?
Does it agree with the firm’s idea of ethical behaviors?
4PS 4C Example: Coca-Cola
Product Customer Value Refresh the world…In body, mind, and spirit
Best known taste
Price Cost Affordable prices which are in line with competitors like Pepsi Cola
Promotion Convenience An internationally known brand
Place Communication Advertising via television, billboard throughout the country
Table 1:Marketing Mix
When marketing the product of the coca-cola, the firm needs to create a successful mix of:
The right product
The right price
In the right place
Using the most suitable promotion
1.2.1 : MARKETING MIX - Product
Product can be tangible or intangible attributes that a seller offers to a buyer to satisfy the buyers’ needs and wants. Products are brought on the basis of promises and expectations that they will provide satisfaction .The product has to have the right features, the price must be right. Consumer will need to buy in large numbers to produce a healthy profit. The goods must be in the right place at the right time. Making sure that the goods arrive when and where they are wanted is important operation. The target group needs to be made aware of the existence and availability...