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Course Project - Customer Behavior: development of marketing strategy for Coca Cola - Essay Example

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Running Head: CUSTOMER BEHAVIOR Customer Behavior Table of Contents Table of Contents 2 Introduction: 3 Market analysis: 3 1. Company 3 2. Customers 4 3. Competitors 4 4. Conditions 5 Consumer Analysis: 6 Market Segmentation: 7 Product positioning: 8 Impact on Consumer 9 Consumer decision process 11 Marketing Mix: 12 Market plan assessment 13 Reference List 14 Customer Behavior Introduction: This research paper includes the development of marketing strategy for Coca Cola…
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Course Project - Customer Behavior: development of marketing strategy for Coca Cola
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Download file to see previous pages It also enlightens its developing opportunities and threats related to strengths and weaknesses of the company. Therefore, to achieve a better understanding of the market analysis of Coca Cola, the study can be divided into following steps of consideration that help make up a complete market analysis. Market analysis also includes the SWOT analysis, which refers to marketing audit and describes how a company’s product is going along in the current market situation (Thomas, 2009). 1. Company Coca Cola is considered to be the leading company in terms of sales and market share in the soft drink industry. It has a massive world appeal and the product image that it entails is loaded with the image that connects people from the heart. The brand is widely recognizable because its iconic image represents the world’s favorite drink and is widely used everywhere. The analysis of the greatest strength of Coca Cola reveals that branding can be considered at the top of the list. This strength allows the company to conduct a wide spread business on a global level while maintaining the usual local approach that it uses in the local market. Coca Cola believes that all customers should be treated on a consistent basis that is why it is successful all over the world and is considered as the favorite soft drink. The company itself does not own the bottling system of Coca Cola. The other independent systems produce and sell the Coca Cola products legally. Coke continues to place itself in a number of varied areas such as music, sports and events. The Coca Cola continues to utilize its sponsorship for the world’s biggest events with its strong brand positioning. 2. Customers The customers of Coca Cola are loyal to the taste. The brand image and the quality are the two essential factors that have kept them loyal for several years. Often, some would not be able to differentiate much between the competitor drinks of Coca Cola and Coca Cola itself as many of the customers do not care about what they drink. Customer’s availability requires that the Push and Pull marketing strategy should be used. Using this strategy, Coca Cola has provided sufficient coolers, freezers, and vending machines at every retail shop. Due to this reason, Coca Cola has attained success in achieving its objectives. People now know what they are drinking and what they should be drinking due to the awareness campaigns of Coca Cola for its potential customers (Friedman, 1994). 3. Competitors The major competitor of Coca Cola is Pepsi. Coca cola and Pepsi are similar drinks but what differentiates Coca Cola from Pepsi is the focus of coca cola on its distinctive features and image in the market. The branding as well as the image of Coca Cola and the value proposition are what Coca Cola aims to create on a varying level as compared to its competitor. The message of Coca Cola is based on human emotions and relationships that connect humans with each other. Coca Cola represents itself as a bridge to connect people and with its unique message “open happiness” the aim to connect its consumers with the brand is successful. The major threat that comes from its competitors is the price. The pricing strategy of Coca Cola focuses on how it can set ...Download file to see next pagesRead More
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