1.0 Introduction 1.1 Overview of marketing management According to Philip Kotler (2000): "Marketing management has the task of influencing the level, timing, and compositions of demand in a way that will help the organisation achieve its objectives. Marketing management is essentially demand management." "The art and science of choosing target markets and getting, keeping and growing customers through creating, delivering, and communicating superior customer value." Marketing management is essential to an organisation in introducing, promoting, maintaining a product's brand name within the market. The management would not solely focus on marketing metrics but also other departments from production to finance. All departments play an …show more content…
There are seven operating structure in TCCC as follow: Africa East, South Asia and Pacific Rim European Union Latin America North America North Asia, Eurasia and Middle East Bottling Investments Corporate According to Credeur (2007), TCCC depends on soda for 80 percent of revenue, while PepsiCo depends on 60 percent on soda for its revenue. 2.2 Customers According to Oxford Dictionary, a customer is who buys goods or services from a shop or business. In other words, he or she someone who makes uses of or receives the products or services of an individual or organisation. Meeting Customers' demand or requirements is vital to an organisation's survival in competitive industry. Failure to do so indicates that the said organisation's business strategy could not cope up with current trend of market and maintain its position in the industry. It would eventually be substituted by the other competitors. Therefore, to be proactive of the customers' demand and know the timing of product launching would be the organisation's competitive advantage in beating down other competitors. Establishing customers' loyalty towards the brand is the priority of TCCC. Branding through heavy advertisements is the approach used by TCCC to attract end-customers. As for the retailers, TCCC collaborates with large or small retailers in growing each others' sales. The Coca-Cola Retailing Research Council provides research relating to food retail industry in helping retailers to
Marketing is the management procedure in which the product or service is moves from concept to the customer. It includes the co-ordination of the 4 P’s of marketing: product, price, placement and promotion. [tutor2u.net]
In the context of global expansion and competition of numerous businesses, effective marketing management is one of the key factors of success, playing an essential role in obtaining competitive advantage. Hence, the success of a company is determined by its ability to identify customers’ needs and offering products and/or services to satisfy them.
What is marketing? Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy both individual and organizational goals. Marketing also include being able to get the goods from the producer to the consumer. The producer is responsible for the design and manufacture of goods. Marketing also includes market research and product development, design, and testing. Marketing concentrates primarily on the buyers, or consumers and determining their needs and desires. Companies then need to stress the availability of products and the important product features. You then need to develop strategies to persuade them to buy and keep their satisfaction with the product. Marketing management includes planning,
The existing concentrate business is largely controlled by Coca-Cola Company (Coca-Cola) and PepsiCo (Pepsi), together claiming a combined 72% of the U.S. carbonated soft drink (CSD) market sales volume in 2009. Refer to Exhibit 1 for an illustration of the CSD industry value chain. For more than a century, Coca-Cola and Pepsi have maintained growth and large market shares through mastering five competitive forces, shown in Exhibit 2, that drive profitability and shape the industry structure.
Useful where multi consumer type, each with own needs, but not one product to meet all needs
This strategy is vital and attracts customers that have been loyal and meet the company vision of customer first. This strategy boosts sales in their industry.
Marketing has become more and more important, especially as the purposes of marketing expanded into performing marketing researches. Through marketing researches, it is asserted that marketing starts with a real customer need. Classic marketing, has, nonetheless, focused on making the need that will draw customers, and this stresses the advertising power of marketing (Woodall 2007, p.1284). This is also called the sales concept of marketing (Woodall 2007, p.1285). An example is how advertising lures people into buying a brand, because of the
Marketing is all about creating a really solid decision, which will lead to more money. In this paper I will give some history of my organization, and explain how each element of marketing affects the organization. In addition I will cover the industry in which the organization resides in.
Macro environment are the large forces which not only affects a company but ratter the whole industry itself. The macro-environment of Coca Cola Company consist of sociological, technical, economic, environment, political and cultural changes.
Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.
The pricing technique of Coca-Cola has supported the firm to compete and grow in the soft drink effectively. The volume discount and pricing penetration are the vital aspects to provide the firm generates its sales in the market. For instance, Coca-Cola partners with large supply chains such as Costco, Sam’s Club, and Walmart to provide great discount pricing in order to generate its sales substantially in the U.S and the global market. Equally, the firm also distributes its
Marketing is perhaps the most important activity in a business because it forms the communication bond between the customers and the company, and it’s a key aspect of communicating the value of the product.
Marketing is an essentially about marshalling the resources of the organization so that they can meet the changing needs of the customers on whom the organization depends. As a verb, marketing is all about how an organization addresses its markets. Marketing is “The management process which identifies, anticipates and supplies the customer requirements efficiently and profitability”.
In general terms, marketing is all related to the places of buying and selling of goods and services to satisfy customers’ needs. Nowadays marketing is the most important issues for success of every business marketing is the activity, set of institution, and process for creating, communicating, delivering, and
American Management Association: Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organisational goals.