MARKETING MIX

Marketing Mix



Competitive Advantage Using Marketing Mix

Introduction

In this paper, we will have a detailed discussion on the marketing mix strategies through which Coca Cola can get competitive advantage over its competitors. The marketing mix consists of 4Ps; which are product, price, place and promotion. Hence, to get competitive advantage in the industry, the Coca Cola Company will need to work on all of these four areas.

The Coca Cola Company has already captured the market of soft drink industry in almost every part of the world, except for the Asian market, as in that market; Pepsi has the higher market share.Hence, the company needs to develop some competitive edge over Pepsi in order to attract the consumers of Asian market as well. The paper will first describe the marketing mix strategy in detail, and then, it will discuss its effectiveness for the company.

Discussion

Marketing mix is essential for a company that wants to achieve competitive advantage in the industry over its competitors. For preparing the marketing mix strategy, it is necessary for the company to consider the areas of product, price, place and promotion (Kerin 2001, 90). Though, Coca Cola is considered one of the top brands in the soft drink industry worldwide. However, its competitor, Pepsi, has largely captured the Asian market. Asians usually prefer Pepsi to Coca Cola.

Except for the market of Asia, Coca Cola has larger share than Pepsi throughout the world in every market. Therefore, the company needs to pay attention to the Asian market to capture the larger market share. In order to gain larger market share and beat Pepsi in the Asian market, Coca Cola company have to establish some strategies which may be helpful in getting competitive advantage over its competitor (Kerin 2001, 90).

Marketing applies to everything that is related to the flow of goods and services from producers to customers. It affects all the stages of production process from design of the product till the selling part. The effective combination of these four elements in the marketing mix is to have the right product, which is properly promoted and sold at the right price and in the right place and time. This is an essential condition for the success of the company over its competitors (Koichi 2009, 101).

Product

This strategy of the marketing mix focuses on the development of capabilities required with unique selling points. The functions of the ...