MARKETING STRATEGIES

Marketing Strategies



Marketing Strategies

Task 1: Investigate the planning principles and range of tools and techniques involved in developing general and marketing strategies.

Marketing plan and marketing strategies

Introduction

Marketing is the delivery of customer satisfaction at a profit. The goal of marketing is to attract new customers by promising superior value and to keep current customers by delivering satisfaction (Kotler, 1999, p. 16.)

Marketing Strategy Coca Cola

This section serves as a comprehensive marketing strategy of Coca-Cola. This strategy examines the internal and external operating environment, the varied strengths, weaknesses, and other market forces driving change at Coca-Cola. To effectively conduct this analysis several tools and techniques were used to thoroughly examine the environment. They include:

P.E.S.T and SPICC Analysis, which was used to examine the external environment.

4 P'S of Marketing which examine the internal environment, and;

S.W.O.T Analysis

Additionally consideration of the market size, structure and current trends were analysed to make informed recommendations.

Marketing OBJECTIVES

The objective of this strategic marketing is;

To review the current marketing environment of Coca-Cola and prepare recommendations to improve Coca-Cola's market share and competitive advantage.

Utilise the results of the strategy to create at least one new marketing objective for Coca-Cola.

P.E.S.T. ANALYSIS

Having examined the political, economic, social and technological trends, useful information was generated for a strategy formulation, at Coca-Cola. The following represents a summary of the findings:

Political

Manufacturers of soft drinks are increasingly guarded by legislation affecting health and safety. It is now mandatory that ingredients must be clearly labelled and an increasing amount of additives are not allowed. Coco- Cola must adapt to meet changing legislative requirements.

There has been increased focus on using international standards and benchmarks such as standards developed by the International Organisation for Standardisation (ISO).

Economic

Significant economic growth in non-traditional or developing markets has taken place, economies such as China, Russia and Latin America.

The economic environment impacts on the purchasing power of consumers. For example, when the average income decreases a consumer has less buying power and vice versa. Additionally, there have been increases in the minimum wages in several jurisdictions.

Social

The population is becoming more educated on health issues; greater emphasis is now placed on healthier lifestyles, increasing demand for, healthy beverages. Globally, the greatest concern to which the food and beverage industry must respond is the rise in obesity.

Additionally, issues of global warming and other environmental concerns are receiving more attention. Pressures for reducing waste and using environmentally friendly products give rise to the need for using more recyclable material.

Increasing consumer awareness of ethical responsibilities in manufacturing and distributing, food and beverages requires responsiveness by Coca-Cola.

Technological

Advancing technology has:

Paved the way for new techniques in microbiology, allowing opportunities, to develop previously difficult, new product formulations.

Conceived new ideas and methods in marketing and advertising that can capture wider markets, such as, e-marketing using the internet.

Changed business boundaries, making it more feasible and profitable for businesses to expand their operations globally.

SPICC Analysis

The SPICC Analysis (suppliers, publics, intermediaries, competition and customers) analysed the company's immediate environment and their competitors. The following is a summary of the findings:

Suppliers

Coca-Cola is heavily dependent on ...