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Coca Cola: Marketing Mix
Transcript of Coca Cola: Marketing Mix
Mix Devinna Sheryl 10C -In general, Coca cola charges similar price to its competitors for its product The aim of having promotion, generally is to publicize the product towards consumers. As well to remind, persuade, inform and create desire to buy the product.
Coca Cola comes in many forms of advertising, especially on TV and media, visual commercial like billboards/posters and magazine. The most significant promoting of coke is in American Culture. In the 1930s, Coca Cola used Santa Claus as their representative in the advertising campaign. Before Santa Claus, Coca-Cola used models of smartly dressed young women to sell its beverages.
Coca-Cola's first ad appeared in 1895, the young Bostonian actress Hilda Clark as its spokeswoman.
With the development of technology, Coca Cola exploits the use of eCommerce marketing to promote its product CONCLUSION Coca Cola is known to have a successful and famous name. There is no doubt that the company had been and is currently dominating the soft drink industry worldwide for a long time now. Due to this fact, it is proven that Coke has a brilliant marketing mix, to be able to add all the four P's to identify the consumer's needs and wants and in order to achieve them. This presentation helped identify each area and observe how Coca Cola effectively managed to achieve these strategies. Introduction PRICING 3. Promotion - Coca Cola was invented on the late 19th century
by John Pemberton.
- The soft-drink company was later bought out by Asa Griggs Candler -a businessman who managed to lead Coke to its dominating famous soft-drink market within the 20th century.
- Under the Coke brand name, The Coca-Cola Company introduced several cola drinks. Those include Caffeine-Free Coca-Cola, Diet Coke Caffeine-Free, Coca-Cola
Cherry, Coca-Cola Zero, Coca-Cola Vanilla, and
special versions with lemon, lime or coffee. Billboard - Coca Cola is a carbonated soft drink made by the Coca Cola Company.
- This product is aimed to the general audience, but specifically targeted to teenagers and young adults and is portrayed as a fashionable soft drink.
- The features and benefits it provides towards its consumers are its uniquely tasty flavour, including its soda fizz-iness, all these aspects result to a unique soft drink people enjoy to drink for leisure. Product Competitors: Coca Cola vs. Pepsi - Coca Cola and Pepsi, due to their mutual industry of soft drinks, have a rivalry relationship.
- Pepsi is usually second to Coke in sales, but outsells Coca-cola in some markets.
- Although both of them serve very similar tastes, Coca Cola tries to create their own unique taste to differ from the other makinf it better than other Coca Cola vs. RC Cola - Another competitor Coca Cola endures is from Dr. Pepper Snapple Group's own soft drink, RC Cola. It serves as a direct and equivalent competitor towards Coke. John Pemberton Product Place Place TV Commercial Poster Coca Cola Pricing in Comparism with
Pepsi Coca Cola's Pricing Pepsi's Pricing A 1.25 liters bottle of coke is sold at £1.00.
A 1.5 liter bottle of Diet Coke is £1.00 as well. A 1 liter Pepsi bottle is £1.59
A 1 liter Pepsi Diet bottle is sold at £2, £1 more expensive than Diet Coke's. Judging from the collected statistics, it is safe to state that Coca Cola's products pricing are set around the same level as its competitors. Due to this, The coke company must be aware that they need to be perceived different but still affordable at the same time. The price of coke communicates the product value as well, since it is not too expensive to seem to grand and unaffordable, nor is it too cheap to make it seem to have a less brilliant quality.
Like any company who has been successfully existing for a long time, Coke has must make sure to maintain their consistent pricing strategy.
Throughout the years, Coke has made many pricing decisions but the ultimate focus and goal is to maximize shareholder value. Originally, pepsi started to drop prices in order to own the market share. Shortly, Coke too decide to decrease theirs slightly although not for all products. An example would be Coke's target on reducing prices of their 200ml container cans in Pakistan. There are several varieties of flavoured soda drinks produced by the company. The reason behind this is to make the product own more variety and appeal to consumers. Here is the timeline of Coke's line of different products. 1886 1985 The caffeine-free
version of Coca-Cola was
released. Coca Cola Cherry
was introduced. 1983 A 'New Coke' was created. It was also called 'Coca Cola II'. It discontinued as of 2002. 1985 Coca-Cola Black
Cherry Vanilla was
released to replace
of Vanilla Coke in June 2007 2006 Coca Cola Orange
is the latest flavoured
drink produced by the
company. 2007 The first and original
version of Coke launched
on 1886. For Coca Cola to mantain their current status
in the very highly competitive marketing world, and adapt in the everyday-changing business environment, they must remember to make optimizations on their strategies and always brainstorm and think of new promoting, pricing, placing and product managing. Thank you for watching The changes they could pursue in to avoid future shortcomings revolve on the product and promoting. As they need to continue to satisfy consumer's expectations, with continuous primary and secondary research, the company would be able to compile the possible changes they could make to satisfy the consumer's preferences even more than they already are. Bibliography http://www.mysupermarket.co.uk/brands/pepsi_in_tesco.html, "Pepsi." MySupermarket. N.p., n.d. Web. 23 Apr. 2013.
"The 50 Greatest Business Rivalries of All Time." CNNMoney. Cable News Network, Web. 25 Apr. 2013.
"Pepsi." MySupermarket. Web. 25 Apr. 2013.
"Coca Cola." MySupermarket. Web. 25 Apr. 2013.
"AthletePromotions." Coca Cola Endorsements. N.p., n.d. Web. 25 Apr. 2013. <http://www.athletepromotions.com/coca-cola-endorsements.php>. Coca Cola pricing objectives is to make profit by using some strategies such as:
- Coca-Cola uses the psychological pricing strategy for their Original Coke. For instance, the price of a 2-liter bottle of Original Coke was $2.49. They set the price to end in a 9, because this makes customers think the price is less than $2.50.
- They also use the promotional pricing strategy. In store that cell Coca-Cola, prices are often temporarily priced below the list price to increase short-run sales.
- The international pricing strategy is used as well. The price of Coke in the United States is different from the price of the same product in China. Coca Cola Charges Differently in Different
(Street Vending Machine)
One can of Coke (12oz Fl oz/355ml)
-America = $1.75
-Japan = ¥120 ($1.21)
-China = 12.20 yuan ($1.94)
(Coke prices in Supermarkets)
One can of Coke (12oz Fl oz/355ml)
-America = $1.01
-Japan = ¥100 ($1.00)
-China = 6.24 yuan ($1.01) Coca Cola has set their products on many outlets to promote their product. The 6 channels of distribution would be: 1.Retail/Convenient stores such as supermarkets, etc. 2.Vending/Self service slot machines (Also sold in school and other various businesses) 3. Hotels, Restaurants, Cafes, Fast food outlets, Cuisine restaurants, etc. 4. Mobile Carts (mechanized and non- mechanized) 5. Entertainment Zones such as various theme parks, Disneyworld and others. 6. Fountain retailers and wholesalers Coca cola's brand awareness convinced costumers that Coca cola offers a high quality products despuite of having lower price than pepsi Supply chain management is important for Coca cola in order to produce the product to satisfy consumers demand, as well as to maintain time efficiency and cost in the distribution and delivery of Coca cola product. The product would best satisfy the needs of the consumer by selling in places where soft drinks are easily accessible for people. The most common area to distribute the drinks is in supermarkets where people do their daily grocery shopping in. Restaurants are a great way to service their drink. Vending machines would be convenient since people could stop by to get a drink when they’re thirsty. Local? Regional? National? International? The product is classified as an international product as they are sold in stores, restaurants, and vending machines in every country except Cuba and North Korea. Therefore it is safe to state that they are a global and worldwide company. Coca Cola makes efficient use of agents, dealership networks and retail outlets to distribute their products. The local delivery then
delivers and distributes to
local retailers such as
vending machines, etc. After the product
is then produced, it
is sent to transportation
to deliver product to
warehouse Coke is then sold
for us consumers to
the idea is sent to
the production factory
in order to be produced Firstly, the
the idea. What does the consumer want from the product? Coca cola makes sure they know what they are trying to convince their consumers for.
The product promises and provides enjoyment and pleasure to people in the form of a soft drink. What differentiates Coke from its competitors is that coke's marketing strategy is generally better in terms of promoting and pricing, seeing that Pepsi's diet soda is more expensive. Coke also produces a variety of different enjoyable flavours such as vanilla, cherry and others to give excitement and change to their standard soft drink. Coca cola is currently the only soft drink that is suitable for vegetarians Packaging The color of the liquid dark and alluring The color of red looks appealing and
more eye-catching towards consumers The bottle's shape is sleek
and slender which could attract
young people Judging from all these physical aspects,
it seems that they are targeting mostly young adults or teenagers because of the trendy, stylish and fancy structure Celebrity Endorsements Brian Urlacher American football player
This encourages sport players and
fanatics to be influenced to drink it
since their 'idol' drinks it. Fareinheit Asian bands Sports players 2pm Due to the immensely large Asian music fan base high demand and trend currently booming, they are used to promote Coke to encourage a lot of fans. Advertising, packaging, and celebrity endorsement have resulted in an increase of revenue, profit as well as consumer royalty. Advertising, packaging and celebrity endorsement play a major role in making Coca Cola as the most recognized brand name in the world, With revenues of over $48 billion and a global presence that spans more than 200 countries throughout the world, The difference in price between Coca cola and Pepsi have significant impact in profit and meeting consumer needs. Last year, coca cola gained a profit of 28% while Pepsi gained a profit of 28.8% Pepsi. Pepsi gained more profit than coca cola but coca cola outsells Pepsi in terms of quantity. Karl Lagerfeld is a German fashion designer who is also known as the founder of Chanel. He promotes the type of Coke called 'Coca Cola Light', which is the more sophisticated and fashionable version aimed for women. Taiwanese band Kpop group Strategies and Objectives A smart, observed strategy Coke implements is to lower price point when entering new markets that are especially price-sensitive. By doing so, it allows Coke to face their competition and raise brand awareness among the population at the same time. Once the method is strongly implemented, it repositions itself as “premium” compared to numerous competitors like Pepsi, the brand with an image of bringing intangible benefit in lifestyle, group affiliation, moment of joy & happiness. Despite all this, their marketing strategy still focuses on the consumer's affordable enjoyment. Another strategy is to regularly make promotions in retail shops, so that it would not only meet the company’s objectives but attract consumers to purchase more as well.