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Marketing Mix - Essay Example

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Marketing mix concentrates on the identification of customer needs (Hooley, Piercy & Nicoulaud, 2012). A marketing mix is a set of tactics that most businesses use to promote their product to the market…
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Download file to see previous pages A marketing mix is an important tool that helps Coca Cola Company to understand what to do to reach out to the target market.
Marketing means having Coca Cola drinks at the right place at the right time for convenience for the customer. Coca Cola has numerous elements that form the core of a main marketing system. The elements help Coca Cola achieve its objectives by incorporating them together. A good combination of the elements allows Coca Cola to have a focus on the marketing product. Creation of a pricing strategy by gathering information of the market ensures that the product is not underpriced or overpriced. The strategy involves scrutinizing Coca Cola targets and objectives for the product.
Price is one of the elements of a product mix, and it plays an important role in determining the sales of the Coca Cola. In the case of Coca Cola, the price is the value of the drink offered to any individual seeking to quench his or her thirst. Price is the amount that customers pay to purchase Coca Cola from the supplier. Setting the price is important in the development of Coca Cola because it will control the forces of demand and supply for the enterprise. Pricing strategy for Coca Cola helps it to have the ability to determine its sales.
The perceived value of the product plays a big role in the determination of the sales of Coca Cola Company. The manner in which a customer values a product is important in the pricing of the beverage company. A positive customer value helps Coca Cola Company successfully charge higher than the monetary of the product. On the other hand, a product should not have a lower value in the eyes of the customer. In the case of the scenario of Coca Cola, the product will be underpriced affecting the sales objectives of the company.
About the price, product plays an important role in the marketing mix of a product. Products are the commodities that the company offers for sale. Coca Cola delivers quality products ...Download file to see next pagesRead More
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