MARKETING

To Address an Identified Trend in Customer Behaviour for a Product or Service

Executive Summary

The Coca Cola's management is responsible for managing and maintaining the internal control factors, in order to have accurate financial reports. Diet Coke was launched to meet the changing needs of people who are health conscious and want something light to drink. Due to increasing trend of having coke with family and friends make the product more successful and reaches to growth stage of product lifecycle.

Managers at all level will make sure that the process meets the demand of target segment. The researchers and theorist claimed that PESTLE analysis is very useful in assessing the company in term of its Macro Environment. PESTLE stands for political, Economic, Sociological, Technological, Legal and Environmental. It defines the position and direction for organization or business. In order to analyze the micro environment, there should be a critical analysis of competitors, customers, supply chain, public and finance. Segmentation is the ability to use data analysis and interpretation of results is essential to ensure that timely and accurately identify customer needs and develop a range of products. Segmentation is the procedure division of the population into subsets-customer segments in such a way that customers in one segment, they were alike in terms of the criteria adopted. In this way, we get separated subsets of customers differ in terms of the diverse needs, motivations, preferences and behavior business. A market consists of people and organizations in need, money to spend and the desire to spend it. However, in most of the markets needs and wants of the buyers are not the same. A company must deepen the knowledge of your market in order to adapt its offer and its strategy of marketing to the requirements of this. The target market strategy of diet coke is based on undifferentiated strategy. There are many ways through which company can achieve competitive advantage over rivals such as differentiation strategy, focus strategy and cost leadership strategy. Diet Coke is approaching differentiation strategy by making the coke different and attractive from competitors. To apply differentiation strategy, the company must make sure that the industry indicators are favourable in the future and will have stronger image of Diet Coke in mind of customers.

Table of Content

TASK 1: THE AUDIT5

Definition of Audit5

Internal Environment5

Strategy5

Organization6

Systems6

Productivity6

Functions7

Product7

Price8

Promotion8

Distribution8

Process9

Physical evidence9

Macro Environment10

SWOT Analysis11

Micro Environment11

The Sherratt Market Environment Matrix12

Porter's Five Forces12

TASK TWO: THE PLAN16

Segmentation16

Types of Market Segmentation16

Target Market17

Positioning Strategy17

Porter's Generic Strategies18

Marketing mix "7P"19

Measurements &Review19

Contingency plan19

TASK 3: THE REPORT21

Benefits of Marketing Plan21

Critical Evaluation of Marketing Audit21

STP Strategy23

Benefits of Market Segmentation23

References25

Appendix 127

To Address an Identified Trend in Customer Behaviour for a Product or Service

TASK 1: THE AUDIT

Definition of Audit

The term audit can be defined as an evaluation or assessment of a person, system, organization, product, enterprise and project. There are different tools available for carrying out evaluation. The process of audit depends on the underlying subject and field. The scope and limitations of audit vary from subject to subject. The audit in accounting field is entirely different from ...