Marketing and Communications in a Digital World Assignment Sample

Marketing and Communications in a Digital World Assignment

Introduction

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“Marketing refers to the actions that a firm engages in to promote the purchase or sale of a product or service”. Marketing includes all aspects of promoting, distributing, “and supplying goods to customers or other businesses”. Marketing contributes to the competitiveness of an organization asa company's chances of making a sale to a given consumer may be increased by giving opportunities for the customer to learn about the items (Morgan et al., 2019). Making your products more widely available is a terrific method to boost brand awareness, which is an important aspect of competition.The purpose of “Coca-Cola’s” goal is to attract every buyer in the countrythus,the corporation sets its rates at a level that no rival can provide to its clients. Furthermore, “Coca-Cola” routinely charges the same prices as its competitors. This strategy offers the corporation a competitive edge in the beverage industry. The report focuses analysis the effectiveness of “Coca-Cola”industries or Coke's marketing mix. It also intended to evaluate the study that must be conducted to solve a corporate difficulty in aCoca Cola to create, manage, and review business investigations and examine the success of a Coca Cola s marketing plan.

Elements of the marketing mix

7 PS of marketing for Coca Cola first launch

Product

“Coca-Cola” offers a wide selection of drinks, including 500 sparkling and still brands.““Coca-Cola”, the corporation's principal invention, is one of the main and most well-known, and it intends to promote it (Pendergrast, and Crawford, 2020). Our “portfolio includes 21 billion-dollar brands, 19 of which” would be obtainable in “low- or no-calorie” versions.The negative aspectsincludethe extra costs might also be involved, there isa competition and riskiness for launching the new product. And the positiveaspects would be positive only when “Coca-Cola” is successful that it satisfies the recognized customers’ needs or wants.Also, the product that is launchedmust be lower in cots in production and deliveringtothe consumer to ensurebetter profit margin.

Place

“Coca-Cola” has a massive beverage supply chain. Its goods are sold in more than 200 countries spread over six primary regions: Europe, Latin America, North America, the Pacific, Eurasia, and Africa. Every day, “Coca-Cola” delivers an estimated 1.9 billion beverages(Pendergrast, and Crawford, 2020). Historically, the corporation has relied on its bottling subsidiaries to process and package its products.The positive aspect would be to ensure the product is in the right place at the right time. And the negative aspect would be is there is not proper placement the user might likely lookelsewhere for their need and desire.

Price

The beverage industry's existing competitors are Pepsi and Coke. Both organizations set reasonable “prices for their products. Prices are” neither too high to be out of reach for most clients nor are they too low to give the appearance of poor quality. Pricing for “Coca-Cola” Cola's strategy is to increase brand loyalty (Pendergrast, and Crawford, 2020). Additionally, as consumer request for soda goods has dwindled, the pricing war amid““Coca-Cola” and Pepsi have heated up. Prices”reduction as the size of the bundle upsurges.The positive aspect would be the firm’ssurvivaland profit if no profitit would be considered as a negative aspect of “Coca-Cola”. Sales might reduce so due to high price would also be considered as a negative aspect.

Promotion

With the penetratingrivalry in the beverage trade, major corporationsemploy a lot of cash on publicity to improve sales and profit.“In 2016, “Coca-Cola” spent $4 billion on advertising”. “In 2018, marketing spending climbed to $4.1 billion”. It endorses its brand and products using both old-style and cutting-edge media (Rana et al., 2020). ““Coca-Cola” launched the Taste the Feeling campaign in 2016, which unites the” whole “Coca-Cola” brand.The positive aspect would be to build a tryst between thebrandandtocustomerswhereasthe negative aspect would be Customers are difficult to predict to make a final purchase choice. One disadvantage is the possibility of losing control because you cannot always control what other people write or say about your product. The information might be skewed.

People

“Coca-Cola” is another important corporation that focuses on “human resource management” to assist its employees in achieving career progression and job happiness. “Coca-Cola” has 86,200 workers “in 2019, with 10,100 of them working in the United States” (Singaram et al., 2019).The positiveaspect would be effective customer serviceisimportant.

Processes

“Coca-Cola” has implemented an integrated and comprehensive supply chain strategy to improve its operating infrastructure and ensure long-term sustainability.Processes include component supply, apparatus cleaning, mixing and combining, packing, labeling, packaging, and storage. It is termed a hidden process since it is not apparent to customers (Singaram et al., 2019).The positive aspect would be having a good system in place ensures that you: provide the same quality of service to your consumers consistently. The negativeaspects would be if the process not been followed under Standard operating procedure.

Physical Evidence

Because of its remarkable form and colors, Beverage Cola's logo appears to be extremely quickly identifiable on shop shelves, making brand awareness easy to obtain in any location across the world (Singaram et al., 2019). The items are also displayed on specialized bookshelves provided to the merchant, which correspond to the business identity and assist customers in quickly and simply locating the item they desire to purchase.The positive aspect would be the tangible cues of the quality of experiences the firm is offering.

Elements of Marketing Mix

Research requirements

“Coca-Cola” conducts market research utilizing marketing themes. They make certain that the consumer receives exactly what they desire. For example, they conduct surveys to determine which flavors individuals prefer and dislike.

Three Primary methods

Questionnaire

The qualitative market research method is important for “Coca-Cola” company because Questionnaires will be a less expensive and time-consuming approach to examining the behavior, attitude, interests, attitudes, and intentions of a large number of people than other methods.The nature of this data is observed data.

Example- 1. What are“Coca-Cola”’s Product features?

?Good taste

?Classic Packages

?Variety of product

?Price of civilians

?Others

Phone Survey

When it is required to collect information via public polls, the telephone survey method is commonly used. In other words, phone surveys were useful for gathering data since they could be completed by anybody in the general population (Ghandour, El Hayek and Mehio Sibai, 2019).The nature of is this data is first-hand data, observed or collected directly from the field.

"RED Concept" is an example of a company's survey approach (RED stands for Right Execution Daily) The survey is used to analyze activation, which is important since it helps to enhance sales. Such activation was accomplished by the use of boards, such as a glow sign. There are several possibilities, including DPS, Flanges, and a Combo board. Combo boards are typically given to E&D outlets (Ghandour, El and Sibai, 2019). Second, it was agreed that the tabletop, three-tier racks, and mobile hanger presented would not be fully stocked with “Coca-Cola” goods.

Direct mail

A direct mail questionnaire frequently comprises brief questions, is to the point, and is relevant to the receiver (Chinwendu and Chinwuba, 2018). To fully explain the rationale for the inquiry, a cover letter should be sent with each mailing questionnaire.This method is more is useful because for the data collection of the “Coca-Cola”brand'sfirst launch the methods have got highly targeted.Everytargeting mail campaign has a great targeting option, there are many ranges of formats and is also cost-effective. Eg- “Coca-Cola” can use discount coupons through mail communication to other companies’ employees to generate promotions and sales or as an introductory offer. The nature of direct mail data is generally first-hand data.

Secondary Sources

“Coca-Cola” reintroduces its product using data from many sources such as commercial market research firms, government statistics departments, rival firm internet sources, trade newspaper corporate sources, industrial magazines, and public sources.

Public Source

From government agencies to schools and libraries, this area provides a wealth of useful information that is frequently free (Neuner, Soroka and Wlezien, 2019).The use of this method can be beneficial for CocaCola by implanting vending machines near public institutions (Railway stations, Bus stands shopping malls, etc) As it is a secondary data source the nature of this method is being collected by individuals or agencies for a purpose other than those of specific research study. It is interpreted as primary data.

Commercial sources

These are beneficial, but they usually come at a cost, such as a membership or a“Coca-Cola” as a fee.Whether it's a financial middleman, a research and trading group, or a publicly traded firm, the data is extremely valuable and may offer a clear picture of a market.It is also interpreted as primary data. Example- Sales projection of “Coca-Cola”.

Industry publication

Industry publication or trade magazine is intended as a valuable source for the different source of coal cola company relaunch product over it first product in at market (Neuner, Soroka and Wlezien, 2019).For example- the data can be collected from the trade journals like “Energy Weekly news”, and “Refreshthe World for “Coca-Cola”” firm.The nature of this data method is interpreted primary data.

Research Plan

Gantt Chart

Note-Deep Blue indicates- Primary methods and Green indicated Secondary sources.

Research brief

• The research brief includes the background, its introducingaim, and objective, researchquestion, methodology, and findings. In this research, the main study will deal with the aspect of is develop a successful marketing campaign in digital work.

Objectives

• To identify and assess the key aspect of is develop a successful marketing campaign in the digital work.
• To assess the successful marketing campaign of the “Coca-Cola” Company in-universe of the digital world.

Implementation of research

A digital marketing campaign is a difficult task that requires focus and attention from the minute the strategy is formed to the moment it is delivered to an audience. Traditional, marketing strategies are significantly less active and persistent than digital advertising initiatives (Desai, 2019). A marketing strategy comprises more than just putting adverts for your company on websites and social media. “Coca-Cola” is the largest digital transformation methodology that encompasses increasing customer experiences and corporate transformation to be at the forefront of disruption. “Coca-Cola” is also focusing on operational reform, which includes utilizing information and analytics as well as optimizing internal procedures to reduce time to market.

Data Collection

The type of data that will be gathered for this research is direct mail, Mailing marketing is used by marketers to contact customers and users offline by sending textual mailers, dimensional packages, perishables, corporate swag, or other physical items. As a result, online marketing has increased in popularity among customers., and questionnaires in google forms. Both external and internal data will be collected for the marketingcampaignstrategy for “Coca-Cola” to thrive and be the market player in the digital world with a greater sales opportunity (Desai, 2019). The data collection will be based on both the primary and secondary data collected based on the three methods and also it is an aspect of developing a successful marketing campaign in the digital work for “Coca-Cola” and also thesuccess of marketing campaign of the “Coca-Cola” Company in-universe of the digital world.

Evaluation of research

Strength

““Coca-Cola” received the highest brand equity award” from Interbrand “in 2011. “Coca-Cola”, with its vast global presence” and separateproductuniqueness is without a doubt one of the most premium brands with the highest brand image.““Coca-Cola” is one of the most valuable” firms in the world, “with a market capitalization of around”“79.2 billion dollars'” (Sharma et al., 2019). This assessment considers the variety's worth, the several factories, and assets scattered throughout the world, as well as Cola's largest functioningprice of sales.

Weakness

Product diversification is restricted – While Pepsi has made an excellent decision to grow hooked on the sector with products “such as Lays and Kurkure, “Coca-Cola”” is missing after that market.

“Water management – “Coca-Cola” has previously been chastised for its water management” difficulties (Smith, Price and Moncaster, 2021). Due to the high-water use, particularly in wet locations, several parties have initiated legal action in the name of “Coca-Cola”.

Recommendation

Digital marketing

“Coca-Cola” is also working with retailers to broaden the reach and appeal of their things on screens, as well as enhancing SEO efforts and cooperating with restaurants to ensure that their products are emphasized on lists (Makrides, Vrontis, and Christofi, 2020).

Traditional marketing

The marketing for Coka-Cola should use print advertisement and direct mail for the imperativesuggestion for “Coca-Cola”'s success.

Conclusion

Hence to sum up““Coca-Cola”, the world's top soda beverage”, the might of a major corporation, “and a very good and well-known brand image will be” recognized nearly anywhere on the planet. As a corollary, Coca-aids Cola's in reaching the whole segmentation, everywhere.Coca-digitization is a strategy for staying ahead of disruption. Cola's plan involves more consumer contact as well as restructuring. “Coca-Cola” is also working on operational change, which includes using information and technology and optimizing internal procedures to minimize time to market.

References

Chinwendu, O.D. and Chinwuba, M.S., 2018. Subscribers’ attitude towards direct mail infiltration from unknown sources. International Journal of Marketing Research Innovation, 2(2), pp.15-19.

Desai, V., 2019. Digital marketing: A review. International Journal of Trend in Scientific Research and Development, 5(5), pp.196-200.

Ghandour, L.A., El Hayek, G.Y. and Mehio Sibai, A., 2019. Cell phone survey. Handbook of Research Methods in Health Social Sciences. Springer, Singapore, pp.1403-1416.

Makrides, A., Vrontis, D. and Christofi, M., 2020. The gold rush of digital marketing: assessing prospects of building brand awareness overseas. Business Perspectives and Research, 8(1), pp.4-20.

Morgan, N.A., Whitler, K.A., Feng, H. and Chari, S., 2019. Research in marketing strategy. Journal of the Academy of Marketing Science, 47(1), pp.4-29.

Neuner, F.G., Soroka, S.N. and Wlezien, C., 2019. Mass media as a source of public responsiveness. The International Journal of Press/Politics, 24(3), pp.269-292.

Pendergrast, M. and Crawford, R., 2020. Coke and The “Coca-Cola” Company. Decoding “Coca-Cola”: A Biography of a Global Brand, p.11.

Pidhurska, V., 2020. Brand recognition is one of the major goals of brand management. European journal of economics and management sciences, (2).

Rana, S., Raut, S.K., Prashar, S., and Hamid, A.B.A., 2020. Promoting through consumer nostalgia: A conceptual framework and future research agenda. Journal of Promotion Management, 27(2), pp.211-249.

Sharma, A., Larkin, J., Fernandez, I. and Esteves, G., 2019. The Diversification of “Coca-Cola”: Globalization & Strategic Fit. Journal for Global Business and Community, 10(1).

Singaram, R., Ramasubramani, A., MEHTA, A. and Arora, P., 2019. “Coca-Cola”: A study on the marketing strategies for millenniums focusing on India. International Journal of Advanced Research and Development, 4(1), pp.62-68.

Smith, N., Price, R., and Moncaster, S., 2021. Water resources east: An integrated water resource management exemplar. RESILIENCE OF WATER SUPPLY IN PRACTICE, p.81.