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Marketing Mix: Coca Cola - Essay Example

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This paper “Marketing Mix: Coca Cola” seeks to evaluate challenges of Coca Cola in terms of promoting Coke to millions of loyal fans worldwide. Playing with the psyche of anxious and upbeat teenagers, a sense of urgency has been created among Coke fans to consume the drink…
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Marketing Mix: Coca Cola

Download file to see previous pages... This is due to cut-throat competition in the carbonated drinks market with rivals such as Pepsi striving for gaining the top position currently secured by Coke. When Pepsi reduces prices, Coke follows suit and vice versa (Edward J. Hoff, 1989). Therefore, both are engaged in what is known as the prisoner’s dilemma. As far as pricing is concerned, Coke and Pepsi engage into cartel agreements in order to strike a mutual balance since the carbonated market is generally oligopolistic. Furthermore, In order to penetrate foreign markets, Coke uses market penetration strategy of lowering prices to raise awareness of this product in such markets. In other words, a low pricing strategy is used for Coke which enables the company increase the volume of the drink sold. Once it achieves a target level of market share and awareness, it then increases prices to reposition as a premium product. Although there are minor increases in price (up to 4%) in response to inflation, the prices are generally low (Rappeport, 2011). Such a strategy has helped provide financial cover to the company during times of recession as the drink continues to rack up profits despite global recession and inflation. Promotion From partnerships with renowned international brands to using celebrities in advertisements to keep the youth hooked, Coke has effectively been promoted through all promotional media. In 2006, for instance, Coca Cola distributed approximately 70 million codes of songs inside Coke’s packs which were redeemable at Apple’s i-tunes store (Telecomworldwire, 2006). Users of Coke were also entitled to giveaways of 1,500 i-pods in Germany the same year (Telecomworldwire, 2006). In another campaign, the company exploited the 20-30 year old target market for Coke by entitling them...
For instance, the brand has used Harry Nilsson’s popular song “Coconut” in one of its ads and altered the wordings to include the word ‘Coke’(Kurtz & Boone, 2009). Most importantly, the product has been heavily advertised world over during the breaks between cricket matches and other sports. A lot of funds have been allocated on advertisements, sales promotions and the construction of Olympics pavilion by Coke. In general, Coke’s ads are uniquely placed between world cups, major tournaments and Olympics in order to create a desire to quench the thirst of audience that is high on adrenaline. Therefore, the company cleverly makes use of the audience’s subconscious desires and ties it to events that are likely to boost sale of its Coke beverage.In another instance, push strategy has been successfully used by Coke to entice retailers to stock its product. As part of summer promotion, the company offered millions of dollars worth discount to its bottlers(Wall Street Journal, 1997). Furthermore, its global partnership with Mc Donald’s has given Coke an edge over its competitors. Various promotions have utilized colors and personality traits in the up gradation of the design of the Coke cup.Research indicates the collaboration of Coke to promote “branded entertainment” of various reality shows and other entertainment shows. In essence, this form of promotion is product placement in disguise. For instance, the popular show American idol featured the placement of Coke cans in its shows. ...Download file to see next pagesRead More
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