Coca-Cola Business Product Analysis - Coursework Example

Business Product Analysis Coca-Cola Submitted to Institute Table of Contents Table of Contents 2 Introduction 3 Coke Market 3 Fundamental Marketing Strategies 4 4P's marketing Mix Models 5 Promotion 6 Product 7 Place 7 Price 8 Conclusion 9 References 9 Abstract This coursework needs to cover the detailed analysis of the product that has a strong market share and effective management structure. For this purpose I have chosen the "Coca-Cola" as a product for the research of the overall aspects and business working. In this paper I will present a detailed description of the Coca-Cola business and working structure. This research will also provide the details regarding the how can we develop a better product promotion by means of 4P's marketing Mix Models. Introduction The global soft drinks marketplace is completely conquered by just 2 players: Pepsi and Coke. Coke was initially developed by pharmacist John Styth Pemberton in year 1886 (Biswas & Sen, 1999). In the history of 112 years, Coca-Cola has entrenched itself into American culture. In 1994, the American use was more than 773 million servings of Coca-Cola, Sprite; diet Coke, Fanta and additional products of the coke corporation. The corporation's drink products comprise bottled plus canned drinks fashioned through self-governing plus business owned bottling plus canning operations (Wikipedia, 2009), (Bellis, 1997), and (The Coca-Cola Company, 2008). Coke Market The Coca Cola Company has truthfully one of the supreme stories in U.S. history.' The technique in which the company has pressed on and endured the taste of time makes an impression up till now their harshest detractor.' The Coca Cola Company has a dread exciting history and still an additional assuring future.' Their industry policy, all along with an extremely devoted customer base, has guided The Coca Cola Company to the position of boss of the market (Pendergrast, 2000), (Bellis, 1997), (Biswas & Sen, 1999) and (The Coca-Cola Company, 2008). Market Needs At the present time, the Coca Cola Company is working with a network of license bottlers. It has fifty three bottling divisions aligned among 26 corporations. Each of these bottlers previously was performing business through Parle's Ramesh Chouhan, after his sale of drink products to Coke. As for each contract signed among Coke and bottlers, the previous provisions to them through soft drink focus. According to the latest plan and policy of the coca cola, the Coke bottlers will stop to remain self-governing entities; in its place, depending on physical positions, they will be amalgamated into one of the super bottling corporations. Believing the enormous impending of enlargement of the whole worldwide marketplace, coca cola desires to increase the marketplace by 40 % for each annum (Wikipedia, 2009), (Biswas & Sen, 1999), (Bellis, 1997), and (Olson, 2005). Fundamental Marketing Strategies The Coca Cola Corporation is capable to attain its aims and objectives by means of the product development or distribution technique or promotional features. In fact, better management from the plant place to the sales services that corporation presents, something could be employed to differentiate (Riz, 2009). The product forms a center in the differentiation policy in the middle of the other P's of the Marketing Mix policy. Product Differentiation is extremely significant in product management for the Coca Cola and has potential in forming flourishing marketing strategies (Pendergrast, 2000). Here I have presented the Coca-Cola Mission Statement and Objective that is developed after the huge marketing study and brand positioning research (Thecoca-colacompany, 2007) and (Wikipedia, 2009). 1.)'''''' To Refresh the World in mind, body and spirit. 2.)'''''' To motivate Moments of Optimism, in the course of our brands and our actions. 3.)'''''' To Create Value and Make a Difference, all over the place we engage. 4P's marketing Mix Models This section presents the analysis how Coca-Cola can produce a better marketing through 4P's marketing Mix models. Here I will present the main areas regarding the 4P's marketing Mix Models of the Coke business. The 4Ps or Marketing Mix model is utilized by marketers as a tool to help them in executing the market strategy. The market managers make use of this technique to attempt to produce the most favorable response in the target marketplace through blending four variables in a best means. It is significant to recognize that the Marketing Mix theories are convenient variables. The Marketing Mix can be utilized on common basis to convene the transforming requirements of the target collection as well as the additional dynamics of the market atmosphere (McCarthy, 2009). Here we have four main factors of the Marketing Mix model (Trumpuniversity, 2008). Promotion Product Place Price Now I will discuss these factors regarding the Coca-Cola business working and positions. Promotion Promotion is a perceptual place. It's where an organization's manufactured goods or service fits hooked on the market. Effectual positioning places an organization first in line in the intellects of possible customers. As individuals, we repeatedly position ourselves. The accountable older sibling, the group clown, a number cruncher, a fantastic genius are all instances of Promotion. These identifiers assist us express ourselves and discriminate our aptitudes as exclusive and diverse from other people. 1 Promotion is an influential tool that permits an organization to generate an image. And representation is the external image of individual who you desire to be, doing what you desire to do, and having what you desire to have. Positioning yourself is able to guide to personal execution. Being positioned by someone else limits your options and confines your opportunities (Trumpuniversity, 2008). For the better promotion of the product we need to apply a better policy that can be based on the enhanced research for the marketplace areas. This research needs to be based on the customer trends for the usage of the Coke. Here the development of the new promotion policy depends on the different cultural and demographic areas aspects. The main elements we will include for the Coke Promotion are: Distribution Pricing. Quality. Service. Packaging. Product In the course of differentiation in coke product, service or packaging, corporation moves to a position in which it is capable to maintain a premium status in the marketplace. However the differentiation can be attained in a number of conducts, the majority scope for exploiting differentiation residue with the product. The product shapes a center fraction in the differentiation strategy in the middle of the other P's of the Marketing Mix. Product Differentiation is very important in product management for the coke and has forthcoming in forming flourishing marketing strategies (Wikipedia, 2009). In the development of the enhanced implementation of Marketing Mix model we need to incorporate the main factor that is about the product. For the Coke, the marketing policy needs to be based on the sound product aspects. We need to make better some of the main product aspects such as its size, packing, design, and taste. These aspects are main marketing factors regarding the product factor of the 4Ps Marketing Mix model. Place The establishment of the Coke marketing policy regarding the demographic and place aspect is major concern of the Coke marketing policy that we need to develop for the enhanced management of the Coke marketing in the marketplace. For the enhanced Coke marketing policy the place aspect is main working scenario. Better coverage of all the marketplace areas and convincing all type of customers is really necessary for business. We need to establish a strong market based strategy that incorporates all aspects of marketplace for the Coke. These aspects can be cultural, demographic, values, and traditions. We need to establish a targeting for the product according to the place of business this will make the Coke the main market leader. The issuance of special promotions on any business place related culture is the main marketing factor of that we will implement for the Coke business. And this will make the Coke a distinctive market promotion developer. Price The price factor of 4Ps Marketing Mix model is also a significant aspect of Coke marketing policy that we need to address. The price aspect for marketing of Coke is required to establish according to region based features. The price of Coke varies according to the areas. The main pricing strategy we need to establish as per country needs. The price strategy needs to be developed by seeing all the factors associated with the business. The price strategy we will develop for the coke as demographic transformations, for instance, in a county, during a particular festival we will reduce prices of Coke for providing the local community better advantages. Conclusion Coke is the main market leader in the overall global soft drink marketplace. With its innovative marketing, promotion, and product positioning policy coke has established deep roots in respective marketplace. In this research I have presented a detailed analysis of the Coca-Cola business and marketing policy that we will implement for the enhanced marketing of the business and promotio. Here I have outlined the Coke history, market value, business structure, and Marketing Mix Modules. This research has provided a deep insight into the business of the Coke. References Bellis, M. (1997). The History of Coca Cola. Retrieved September 10, 2009, from About.Com: http://inventors.about.com/od/cstartinventions/a/coca_cola.htm Biswas, A., & Sen, A. (1999). EPW Special Articles . Retrieved September 10, 2009, from Gazhoo.Com: http://www.gazhoo.com/upload/document/2009/06/22/200906220400238629.swf Butler, B. (2002). COCA-COLA: THE ISSUES. Retrieved 09 02, 2009, from Citizens' Campaign for Commercial-Free Schools: http://www.scn.org/cccs/coke-intro.html McCarthy. (2009). Marketing Mix 4P's model 5P's. Retrieved 09 02, 2009, from Marketing Mix 4P's model: http://www.valuebasedmanagement.net/methods_marketing_mix.html Olson, J. (2005). History of Coca-Cola. Retrieved September 09, 2009, from http://www.geocities.com/Heartland/4269/history.html Pendergrast, M. (2000). For God, Country and Coca-Cola: The Definitive History of the Great American Soft Drink and the Company That Makes It. London: Basic Books. Riz, A. (2009, June 7). SWOT Analysis of Coca-Cola:. Retrieved 06 18, 2009, from blogspot.com: http://gcufsd.blogspot.com/2009/06/swot-analysis-of-coca-cola.html The Coca-Cola Company. (2008). The Coca Cola Company Heritage Timeline. Retrieved September 10, 2009, from Coca Cola: http://heritage.coca-cola.com/ Thecoca-colacompany. (2007). Mission,Vision & Values . Retrieved 09 02, 2009, from The Coca-Cola Company, Our Company: http://www.thecoca-colacompany.com/ourcompany/mission_vision_values.html Wikipedia. (2009). Coca-Cola. 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