Marketing and Promotional Tools - Coursework Example

Marketing and Promotional Tools Introduction The business world has experienced numerous changes in therecent past. The advancement in technology and continued intellectual development has brought a lot of dynamism in modern business environment. New marketing strategies have been developed and widely adopted by various companies across the world. Companies have been forced to restructure their systems in order to enhance compatibility with the new changes (Rossiter & Percy, 2013). In essence, evolution of marketing techniques has aided various organisations to avail their products and services to consumers in different parts of the world. The modern technology has made reception and dissemination of information quite simple for companies. For instance, companies can share information regarding the products or services they offer to the world via the internet. In addition, there are various media that companies can use to market their products or services (Kaufmann & Panni, 2013). These media include televisions, magazines, posters, social media platforms such as the Facebook and many others. It is essential to identify that marketing techniques are tailored to attract potential customers to buy the product or service in question. The aim of this project is to analyze the different media and promotional tools used to market the products of the Innocent Company and Coca-Cola Company The Innocent Company The innocent company is a multi-billion company that serves in the product sector. The company mainly provides drinks of varies taste to its customers. Some of the drinks produced by the company include smoothies and fruit juice. The company has established various strategies to promote the sale of its products in the competitive beverage market. The Coca-Cola Company holds over 90% of the company shares. In essence, the beverage market is very competitive since there are millions of companies in the world market. Oswald (2012) states that a company must strategize its product promotion methods appropriately to avoid losing the market share. The Innocent Company has formed a consumer-based programme to promote quality services and consumers satisfaction. The Innocent Company has purposed to improve its communication structure in order to facilitate smooth interaction with the customer. The communication structure is aimed at ensuring proper dissemination of information regarding the products offered by the company to members of the public. The products manufactured by the innocent company are designed mainly for children consumption. The commercials posted on various advertising platforms are usually ethical and safe for children consumption. The Company uses advertisement through various media as a mechanism to market its product. For a product to perform well in the market, the potential customers must be informed about the existence of the product and be persuaded to buy it (Saviolo & Marazza, 2013). In this regard, product promotion is a crucial marketing practice that needs to be organized and planned properly. Research has shown that companies which establish proper product promotion techniques perform better than those that do not focus on product promotion as a marketing tool. . Innocent Company has taken keen interest on corporate social responsibility (Simmons, 2011). For the instance, the company has a long history of donating huge sums of money to charity. In addition, the company has sponsored various sporting activities and research institutions. A cognitive analysis of the Innocent Company’s practices shows that it has promoted social and economic wellbeing of people in the society. The company is working on effecting a campaign that will see it donate ten percent of the total profits made every year (Eleftheriou-Smith, 2013). The campaign aims at popularizing the company’s products across the world. In addition, the company plans to support economic activities in less developed countries in order to boost food security and enhance economic growth. Companies should always focus on the welfare of members of the society since they comprise the market for goods and service. In essence, companies should not concentrate on maximizing profitability and forget about the welfare of people in the community. The products manufactured by the Innocent Company have been certified and proven to be safe for human consumption. Safety and health consequences are among the core factors that consumers considered when deciding whether to purchase a product. The healthiness of the products manufactured by the Innocent Company makes the consumers want to buy from the company from time to time. Actually, consumption of any product manufactured by the company possess no psychological, emotional and physical distress to the consumer. The advisements posted on magazines and social media platforms are appealing to the target customers thereby compelling them to buy the product. The Innocent Company participates in major world events such as football, athletics and many others either as a sponsor or associate sponsor. In such events, the company representatives give banners and magazines containing the various products manufactured by the company to the audience (McLoughlin & Aaker, 2010). Through such strategies, the company sells its name to new markets thereby boosting sales and consequently the profits. Actually, issuance of banners and company magazines is among the various unique approaches that the Innocent Company uses to maneuver through the competitive market. Additionally, the company has embraced the use of the modern technology to spread information to both existing and potential customers across the world. For instance, the company has developed a user-friendly website where consumers can access all the information about the available products. In addition, the company uses social media platforms such as the Facebook and Twitter to market its product. The customers can interact directly with the company’s management via the social media and share ideas. The Coca-Cola Company The Coca-Cola Company is a global enterprise that produces beverage products. The company has established a variety of soft drink brands such as Fanta, Sprite, and Coke. The various brands are produced with varied flavors to ensure that the issue of consumer taste and preferences is addressed. The company has established outlets in almost all countries of the world. The company has a well-established marketing team whose role is to ensure effective performance of the product in the market. According to Dudovskiy (2012), the company uses diverse methods to promote its products. In other words, the company’s management employs numerous incentives to market the products. For instance, the company frequently sponsor various teams and talented individuals in sports. Such actions create a good image to the public eye and, therefore, boost the sales of the company’s products. In addition, when events sponsored by the Coca-Cola Company are aired on various television stations, people learn many things concerning the company and its products. In addition, adverts concerning Coca-Cola products are run regularly on television commercial breaks. In such cases, existing customers are reminded of the existence of the company’s product while potential customers are informed about the existence of various products of the company. The company has embraced modern technology in marketing its products (Coke, 2014). For instance, the company’s management has worked continuously to develop a website where customers can access important information regarding the company and the products offered. The website also provides an avenue where customers interact with the company official when making inquiries or raising complaints. In addition, the company has embraced the use of social media for addressing customers need and advertising the various products. For these reasons, the market share of the company has been developing gradually since its establishment. The Coca-Cola Company has had a long history of producing top quality beverage products. Actually, the company has an established brand name across the world (Pendergrast, 2013). The popularity of the company has been very useful in boosting its market share. Actually, millions of people across the world consume Coca-Cola beverages. The broad customer base aids in winning new customers and thereby providing a wider market share day after day. Research has showed that the history of a company influence its performance in the market. A company with a good reputation and an established brand name is likely to perform better in the market than the one with a bad reputation and unestablished brand name. In this regard, a company should develop its brand name and strive to streamline its reputation in order to survive in a competitive market. Consumers are usually loyal to a company that they can trust in terms of quality and ethics. Conclusion Communication is a very crucial tool in marketing. Companies should develop effective communication structures in order to survive in the modern market environment. The modern technology and the improved quality of education have brought immense revolution in marketing. Companies should embrace the modern technology in conducting daily operations such as production, advertisement and distribution of goods and services. The internet and the different social media establishments have been of great use in modernising marketing practices. The internet facilitates effective communication between people from different parts of the world. The Innocent Company is among the companies that have made tremendous achievements in securing the market share. The mode of operations and marketing techniques employed by the company has facilitated uninterrupted development. The Coca-Cola Company is among the most successful multinational companies. The success of the Coca-Cola Company can be attributed to the effective communication structure established by the management. Organisations should continually conduct research in order to identify changes in marketing. Research is an important tool for guiding organisations in decision-making. Reference list: Rossiter,J.R.& Percy,L.( 2013).How the roles of advertising merely appear to have changed. International Journal of Advertising, 32(3) 391-398. Oswald, L. (2012). Marketing semiotics: Signs, strategies, and brand value. Oxford: Oxford University Press. Dudovskiy, J. (2012).Coca-Cola Marketing Communications: A Critical Analysis. Retrieved on 14th Feb 2015 from http://research-methodology.net/coca-cola-marketing-communications-a-critical-analysis/ Coke (2014). “Coke’ share coke campaign” An Integrated Marketing Success. Retrieved on 10th Feb 2015 from: http://incitrio.com/cokes-share-a-coke-campaign-an-integrated-marketing-success/ Top of Form Eleftheriou-Smith, L. (2013). Innocent focuses on emotion and charity in marketing overhaul. Retrived on 14th Feb 2015 from: http://www.marketingmagazine.co.uk/article/1224153/innocent-focuses-emotion-charity-marketing-overhaul Simmons, J. (2011). Innocent: The inside story of Innocent told from the outside. London: Marshall Cavendish Business. McLoughlin, D., & Aaker, D. A. (2010). Strategic market management: Global perspectives. Hoboken, N.J: Wiley. Pendergrast, M. (2013). For God, country and Coca-Cola: The definitive history of the great American soft drink and the company that makes it. New York: Basic Books. Saviolo, S., & Marazza, A. (2013). Lifestyle brands: A guide to aspirational marketing. Houndmills, Basingstoke: Palgrave Macmillan. Kaufmann, H. R., & Panni, M. F. A. K. (2013). Customer-centric marketing strategies: Tools for building organizational performance. Hershey, PA: Business Science Reference. Read More