CHAPTER 1 :- DEFINING MARKETING FOR THE 21st CENTURY
MARKETING DEBATE—Does Marketing Create or Satisfy Needs? Marketing has often been defined in terms of satisfying customers’ needs and wants. Critics, however, maintain that marketing does much more than that and creates needs and wants that did not exist before. According to these critics, marketers encourage consumers to spend more money than they should on goods and services they really do not need. Take a position: Marketing shapes consumer needs and wants versus marketing merely reflects the needs and wants of consumers. MY OPINION:Pro: With the vast amount of information available to marketers today and the emphasis on relational marketing, marketers are in more of a position to
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14. From focusing on shareholders to focusing on stakeholders. 15. Decreased availability of firms. 16. From using many suppliers to working with fewer suppliers in a “partnership.”
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MARKETING SPOTLIGHT—Coca-Cola 1. What have been the key success factors for Coca-Cola? Its pursuit of always looking for new ways to portray the brand, to keep the brand “fresh” in the minds of current consumers without betraying the “core values.” 2. Where is Coca-Cola vulnerable? A change in consumer tastes for soft drinks is vulnerability for Coca-Cola. Additionally, as the brand expands into third-world countries, lifestyles and customs provide challenges. 3. What should they watch out for? Any demographic, or lifestyle changes that would have long-term consequences would be a threat for the brand. Young consumers must embrace the brand to ensure that they continue to drink Coca-Cola as they age. If Coca-Cola misses a generation, sales will suffer for a long time. 4. What recommendation would you make to their senior marketing executives going forward? Continue to embrace the core values of the brand and expand soft drink sales opportunities, not from the Coca-Cola brand, but from flanker brands or acquisitions. Preserve the Coke franchise and defend it steadfastly. 5. What should they be sure to do with their marketing? Evolve, adapt to changes in the consumer market by constantly monitoring consumer buying habits, purchase intents, and their shifts in
When Coca cola bring refreshment, value, joy and fun to their stakeholders, then they successfully nurture and protect their brands, particularly Coca-Cola that is the key to fulfilling our ultimate obligation to provide consistently attractive returns to the owners of our business. Marketing positioning Local marketing strategy enables Coke to listen to all the voices around the world asking for beverage that span the entire spectrum of tastes and occasions. What people want in a beverage is a reflection of who they are, where they live, how they work and play, and how they relax and recharge. Whether you’re a student in the United States enjoying are freshing Coca –Cola a woman in Italy taking a tea break , a child in Peru asking for a juices drink, or a couple in Korea buying bottled water after a run together, “Coca cola is there for you. Coca cola are determined not only to make great drinks, but also to contribute to communities around the world through our commitments to education, health, well ness, and diversity. Coke Strives to be a good neighbor, consistently shaping business decisions to improve the quality of life in the communities in which coke does business. It’s a special thing to have billions of friends around the world, and coke never forgets it.
Coca-Cola is the provider of carbonated and non-carbonated beverages that can be found in many homes, businesses, and almost everywhere you go in your daily routine. As follows in this plan, Coca-Cola renovates their concept and strategic focus by adding importance to target segments with new and evolving
Biedenharn sent a case to Asa Griggs Candler, who owned the Company. Candler thanked him but took no action. One of his nephews already had urged that Coca-Cola be bottled, but Candler focused on fountain sales.
Coca-Cola is shifting its product strategy to develop healthy beverages. “Minnick’s ambitions, if they hold, would utterly redefine Coca-Cola’s image as a purveyor of sugar-laden junk that you should’ve give your kids” (Carvens & Piercy, 2009). Entering a healthy-beverage market segment can potentially improve as well as expand Coca-Cola image. The new market segment will reel in even more consumers for the company, only
The company known as Coca-Cola today was started in September of 1919, but the first Coke brand was served as early as 1886. Since that time it has grown to be one of the most globally recognized brand names with a stock value of $167 billion. Coke’s plan has always been developed with the future in mind. Right away the company realized that it was more profitable to manufacture the concentrate used to make carbonated drinks than to bottle it. From that point on they saw the entire world, not simply the originating country, as their desired market. It seems only practical that the company should pursue this agenda until conquered then focus the effort on expanding into different product lines. This logical
E-Business is a growing segment of both the wholesale and retail markets. The ease of communication, comparison and the simplicity of the overall shopping experience have led to a boom in online businesses as the internet becomes an increasingly integrated component of our lives. Evogear.com is one of the corporations to ride the wave of e-business and consumers shift towards online shopping. In fact, riding the wave is a perfect metaphor for Evogear as they market and sell discount snowboard, skateboard, and wakeboarding gear online.
The Coca Cola company is perceived to be the most famous trademark on the globe, and it is equally so. The company claims more than 400 brands that appeal to a wide range of individuals throughout the world. They are in a position to fulfill needs of every one of their buyers making their experience with their beverages a better one. The entity’s drinks entice a lot of people across all races, age, and gender. Coca Cola is outstanding for its overall popularity as its items are sold in over four hundred countries in the world, while major contenders like Pepsi are just available in very few countries. Such a competitive advantage has placed
Few name brands are as familiar, have generated as much loyalty and have penetrated as many far reaches of the globe as has Coca-Cola. The name, logo, image and product line all have achieved a level of universal appeal and commercial dominance unmatched in its industry. However, no firm is above the demand to remain creative, dynamic and forward-thinking. While Coca-Cola's 'classic' formula remains the single most preferred soft-drink in the world, the soft-drink industry is an incredibly competitive one. For Coke, this denotes a need to balance its classic image with that of an industry innovator. Maintaining this balance is not always easy, especially in light of the market imperatives created by its closest competitor, Pepsi Cola. This difficulty was perhaps best demonstrated during the rollout and product launch in 1992 of Coca-Cola's Tab Clear.
As the Coca Cola company has come a long way from advertising a few servings of sparkling drinks in a pharmacy, to a worldwide business. Coca Cola’s loyalty to remain at the front of the shifting public values in increasing their promotion tactics has confirmed to their plus. Without any confusion The Coca Cola Company has developed all the basics necessary to run a multimillion, worldwide venture and it refreshes all the people that come in contact their
Another important weakness is that the company’s products are seen as a major cause of obesity. (Melser, 2013) The beverage sales are affected by various factors including change in trends and preferences. Recently, beverage sales have fallen because of people’s increased preference for the health drinks. Around the world, obesity is a major problem and the Coca Cola products are seen as a major cause of obesity. As people are getting health conscious they are moving towards low calorie healthy drinks. This affects coca cola’s profitability and popularity. However, the brand can overcome this situation by increasing the number of low calorie products in its brand portfolio. It will need to add more healthy choices for its customers in its product portfolio.
Coca-Cola is the result of a patent medicine formulated in a small southern pharmacy over a hundred years ago. It has grown into a multibillion dollar international company. It also owns one of the most valuable brands in the world. Their Coca-Cola banner has won the world’s top brand 13 times on brand c-consulting firm Interbrand’s annual list (Fraser, 2012). In addition to its main product, Coke, the company owns over 3500 beverages. One of its core competencies is brand building. They have built their brand to have respectability and dependability. Their brand and logo are recognized all around the globe. It has actually become a new known on almost all households worldwide (RNWILKIN, 2009).
Coca-Cola Company has realized significant growth since its establishment to become a global leader in the marketing, manufacturing, and distribution of syrup and soft drinks. Out of the four generic strategies, the company has followed the differentiation strategy to make its products unique in the market. Its interest is to maximize the market share through the development of the most innovative products and the establishment of effective strategies to influence the customer’s decisions. In such a way, the company has integrated various strategies to ensure that desirable results are attained in the market. Its strategic choices align with the differentiation strategy in an attempt to make its products unique and meet diverse market requirements. To reduce its weaknesses, the company should consider exploiting key opportunities in the market including venturing in the packaging of water, promotion of new brands, and launching of healthy products. In particular, the vision and mission statement of Coca-Cola seems to have reconfirmed and changed in this process of company’s strategic analysis.
Coca-Cola was the first cola in the United States and is also the top selling cola globally (About Us Coca-Cola History, para. 1). Coke was the only product that Coca Cola Corporation sold when it was first started, and now has other products that satisfy the different palates and concerns of consumers. Consumers don’t realize some of the products that are part of the Coca-Cola family until after reading the bottling information on the label. Financially Coca-Cola is still a global leader in the cola wars, with Pepsi being its number one competitor, but with
Coca-Cola has been around for generations with the same iconic taste, logo and symbolism. Its brand has represented family and the memories of good times, celebrations and comfort of being with those we love. Unfortunately, the company has not made good marketing decisions in the recent past and has lost relevancy. The purpose of this essay is to assess the conditions that created Coca-Colas marketing problems, evaluate the future of healthy beverages and non-carb drink brand extensions, and provide recommendations to the management.
Last year, Coca-cola saw its sales decreased in the European market. In order to increase the sales, Coca-Cola needs to define a new strategic communications plan. As mentioned above the image of Coca-Cola has been damaged quite a lot for the past 2 years by different factors. A hard work needed to deal with consequences of this damage in the image of the company.