Marketing Communications In A Digital World Assignment
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The overall report based on the topic marketing communication deals with the effective marketing strategy followed by “Coca Cola Company” in the digital world. There are some discussions on the elements of the market mix that provide effective results in devolving the overall market of “Coca Cola Company”. Further, identification and analyzing of marketing mix are discussed. Moreover, some positive and negative market mix of “Coca Cola Company” is discussed in the report. Further, the “Coca Cola Company” uses primary and secondary methods to collect data and information about their competitors present in the market and their usefulness. Further, Gantt chart and timeline are providing for better understanding of the facts and data. Moreover, a PPT presentation is made for better gaining of knowledge to the readers.
In this comprehensive report, there is a discussion on the marketing communication of “Coca Cola Company” in the digital world. This report provides an insight knowledge and information about the marketing techniques and communication of "Coca Cola Company" in the digital world. Further, the elements and impact of the marketing mix environment on the "Coca Cola Company" is discussed. The implementation of 7Ps and their effectiveness in developing their business is discussed in this report. The positive and negative impacts of implementing 7Ps in the company's business are discussed later. The research methods and techniques used by "Coca Cola Company" are discussed to capture the digital world. The primary and secondary methods used by the "Coca Cola Company" are discussed in the research plan. Moreover, the effectiveness of the research methods and their appropriateness are discussed. Research requirements help the readers in dealing with the right time to launch a product and solve marketing issues. Further, the research plan is discussed to highlight the effectiveness of planning which help the organization or company contribute competitive advantages. Further, in the planning section, the strengths and weaknesses of the research findings and further critique are discussed for the topic.
Part One - Elements of the marketing mix
a) Identify and analyze each element of the marketing mix
Marketing is a process that helps the company or organization explore, create, and deliver value that meets the overall need of the customers (Armstrong et al., 2015). The main purpose of marketing is to generate revenue for the company and achieve its objectives or goals through reaching its target audience and communicating with them for companies' product launching or services (reffered to appendix 1). For effective marketing and to attract customers towards the products, Coca Cola Company uses the 7Ps of the marketing mix. The 7Ps of marketing mix includes;
Product or services
In this section, the organization mainly focuses on the product design, quality, packaging, features, and market position for developing their product (Blythe and Martin, 2016). The company provides help to the customer, identify customer needs, and provide self-service to the product. Therefore, when "Coca Cola Company" first launched their product in 1886, they gathered particular ideas and knowledge about the market mix.
“Coca Cola Company” created effective pricing of their products to attract more customers towards their business (Armstrong et al., 2019). After launching their first product in the market, they gain significant profit.
In this section, the “Coca Cola Company” makes the effective promotion of their products through “social media” and “Netflix”.
The “Coca Cola Company” in the UK has set their particular place in the market and due to which they gain success in their business.
In this section, the “Coca Cola Company” develops their marketers, hire professionals, think about their company culture, and focus on customer relationship management (Brennan et al., 2019).
The “Coca Cola Company” have successfully introduced their packaging and created an attractive sense of the delivery of their products.
In this section, the “Coca Cola Company” prioritizes processes that help them overlap their customer experiences (Chaffey and Ellis-Chadwick, 2019).
b) Identify and discuss any possible positive and negative aspects
In the "Coca Cola Company" marketing mix segment, they both gain positive and negative responses for their products.
The positive way of their marketing mix includes effective products or services. Moreover, the overall packaging of their products creates a great advantage for the "Coca Cola Company" as people have a craze for their products. According to Kostelijk and Alsem (2020), they have occupied the perfect place for their product launch. A place provides practical advantages of transporting, importing of raw materials and easy communication for the customers and they have smartly set the pricing of their products.
On the other hand, the “Coca Cola Company” has failed in their promotion as they show their lethargy at their work, which further decrease their products. However, the "Coca Cola Company" get protested by their customer after introducing their new "Coke" in the market. As mentioned by Juska (2021) further, the "Coca Cola Company" negatively impacts their product taste from their customers. They lack focus on the people's needs, and according to this, they introduced a new taste of their products. Due to this, many customers protest against them.
Part Two - Identify research requirements
A) Three different primary methods and three secondary sources
The "Coca Cola Company" uses different sources that help them develop their market and gain success later when they re-launched their product.
The “Coca Cola Company” makes use of survey among 200,000 customers which provide effective results and their opinion on the products taste and other details. Having a primary research method, the "Coca Cola Company" identified their potential customers and needs. Oduntan (2019) observed that they made changes in their new products and re-launched the product in the market. Moreover, the "Coca Cola Company" has interviewed their customers and in-market segments. This kind of interview provides help to the “Coca Cola Company” in developing their knowledge about the market.
On the other hand, “Coca Cola Company” has implemented various secondary methods to collect their data and information about the product in the market. The “Coca Cola Company” uses various articles about other companies that provide basic knowledge about the taste and needs of the customers. As per the view of Fill and Turnbull (2019), using reputed articles provides essential knowledge about the market trends and according to that "Coca Cola Company" has introduced their new products in the market. Moreover, to gain perfectness in their business, "Coca Cola Company" uses different journals present in the market.
B) Justify, with examples, why certain methods are more useful than others
The primary methods become helpful for "Coca Cola Company" in dealing with the issues that arise in their company regarding their old product. Further, to gain more advantage in the market, "Coca Cola Company" conducts different target audience and focus group. According to Smith and Zook (2019), under these segments, the "Coca Cola Company" divided their workers and had a market analysis that helped them identify their products' target audience. After the failure of their first product launched, now they have become more concerned about their audience and provide them satisfaction. These turn their business into smooth running and increase the craze over their products by using primary methods. The primary methods provide the exact taste and needs of the customers in the market (Wood et al., 2020).
The secondary methods help "Coca Cola Company" gain several data and information necessary for their product development in the market. Further, "Coca Cola Company" gathered other companies' historical and statistical documents, which helped them with great information about their competitors present in the market. Moreover, using secondary methods helps the "Coca Cola Company" deal with their potential competitors and knows their efficiency and power in the market. As observed by Kraak et al. (2020) further, "Coca Cola Company" gets detailed information about their competitors, their pricing, labelling, and many other necessary details from their statistical documents of them. On the other hand, secondary methods help assume the product details.
Part Three – Create a detailed research plan
a) Plan your research
The overall product launching statement includes 56 days for completion of the work. The project initiation takes 8 days to report the overall work. Further, project planning requires 10 days to conduct the overall project for the new products of "Coca Cola Company". The execution plan requires 25 days to properly maintain the product and succeed. Moreover, the closure of the project is done within 13 days to introduce the new product of "Coca Cola Company" in the market.
b) Implementation into research
The above section found that both primary and secondary research is important for having detailed information about the market and competitors. Primary research provides help to the "Coca Cola Company" in gathering various kinds of knowledge and information about their product. As per Armstrong et al. (2015), the primary methods help the "Coca Cola Company" identify the previous loopholes present in their organization. On the other hand having an interview session with the customers it essential knowledge to "Coca Cola Company" in dealing with their products. However, primary research provides help to the "Coca Cola Company" in focusing on a specific group of people and creating their target audience for their development.
On the other hand, the secondary research methods help the "Coca Cola Company" by reducing their overall cost and gaining different information about their competitors. Blythe and Martin (2016) mentioned that these are done with the help of having various journals, statistical data and information for other companies, and from articles. Those factors provide the main initial platform for the "Coca Cola Company" to set the target to capture the audience. Therefore, both these research methods are helpful and important for the "Coca Cola Company" to develop their business after failing in their first product launch.
c) Critique of the research
It can be seen from the overall report that, at the very first of the launching, "Coca Cola Company" has only focus on some factors like place, product, price, and packaging. Moreover, they have missed out on the basic concept of promotion, people, and processes of the products. As a result of this, the launching of their first product becomes a failure after some time. Moreover, the "Coca Cola Company" has changed the taste of the product due to which the people and their potential customers get a protest for their products. However, after the first failure of the "Coca Cola Company" product, they get a second chance to develop their business. Later, when "Coca Cola Company" launched their product in the market, they mainly focused on the customer's needs and identified the loopholes present in the organization and in the products. The weaknesses in the first product launches refer to the proper promotion of the products. Moreover, they become more sedentary in their work and develop their processes. Further, in the second stage of re-launching, "Coca Cola Company" asses their loopholes and makes an effective marketing mix to develop their business by properly focusing on the people and promotion.
- The other name of the digital world of marketing communication is online marketing;
- Coca-Cola's digital marketing communication includes enhancing customer experience along with business transformation (Deng et al. 2020);
- Coca-Cola is focused on operational transformation by including leveraging data as well as technology;
- The process of digital marketing communication improves internal processes for boosting the growth of the market (Makrides et al. 2020);
Note: This slide analyzes the concept and functions of marketing communication by focusing on the Coca-Cola Company. Thus, it has been identified that the coca-cola company has been enhancing depending on their customer experience and business transformation in the digital world. It can provide the chance for staying on top of disruption. On the other hand, it has been focused on its operational transformation by including leveraging data and technology.
- Coca-colas marketing segmentation is focused on the aims for driving among the market by geographical units, regions, including cities, as well as neighbourhoods (Tien et al. 2019);
- The primary customers of Coca-Cola are focused on the younger customers between the age bracket of 10-25 as well as secondary market composed within the age group of people 25-40;
- Coca-Cola company has been positioning in the market based on their products with the factors of thirst-quenching along with refreshing (Sharma et al. 2019);
- This company has been focused on their market-based segments by their products consistently as well as of premium quality;
Note: This particular slide analyses the effective marketing segments of coca-cola and their product's impacts on the market. On the other hand, it can be focused on the target audiences with their age groups and the quality of their products. Moreover, the practices of refreshing and thirst-quenching are attached with the marketing segments of coca-cola.
- Coca-Cola has been focused on the urban as well as suburban areas with ensuring the practices of the countrywide product by distribution network (Xu, 2021);
- The psychographic element of this company is focused on the categorized into several groups such as lifestyle, personality, and values;
- Coca-Cola company has been expanded depending on their product of non-cola beverages for targeting the young generation in the market;
- The company is the primary focus on the customer’s needs as well as preferences (Ireland et al. 2021);
Note: This slide describes the focused areas of marketing by the coca-cola company. On the other hand, this company follows the psychographic market segments based on the customer's lifestyle, personality, and values.
- The marketing mix of Coca Cola has been focused on the seven Ps such as product, people, place, promotion, price, processes, as well as physical evidence;
- The popular along with highest selling soft drink by analyzing the market history by recognizable brands in the world (Belayneh et al. 2019);
- This company has been invested a huge sum per year for their marketing as well as promotion;
- Coca Cola is known for its strong brand image along with its high customer loyalty (Gurumoorthy and Santhiya, 2019);
Note: This slide analyzes the overall outcomes of the marketing mix based on the 7PS marketing strategy. On the other hand, it has been known as a recognized brand.
- This company has been increasing their brand growth with the help of marketing mix impact by recognition along with customer engagement;
- Based on the marketing mix, this company has been optimizing their product mix based on the change of changing taste of consumers worldwide;
- Coca Cola has an extensive beverage distribution system by the marketing mix based impacts;
- The positive impact of the marketing mix is providing the chance to rely on their bottling partners for the packaging along with distributing products (Hayuningtyas, 2020);
Note: This particular slide discussed the overall positive impact of the marketing mix in the coca-cola company. Thus, it can provide the chance to develop their brand growth and engage the customers in the market.
Promotional mix and product life cycle
- Coca Cola company is focused on their appropriate promotion strategy by focusing on aggressive marketing by ad campaigns with the help of media channels like television;
- Digital world-based marketing communicating facility is attached with the online commercials, sponsorships, and print media (Shkodrova, 2018);
- Coca-Cola has been sponsored several effective events like “American Idol”, “BET Network”, “NASCAR”, “NBA”, “Olympic Games”, and “FIFA World Cup” (Spivakovskyy et al. 2018);
- This company has been focused on the number of product lines as well as individual products or services;
Note: This slide describes Coca-Cola's promotional mix information based on the marketing strategy. On the other hand, their total number of products has been produced by the customer's choices and services.
- The coca-cola company is identified as a great example depending on their products by long term product life cycle (Sinha, 2018);
- This company introduced in the year 1886 by spending the majority of its life with the help of the maturity stage;
- Coca-Cola Company has been advertising their mature products by reinforcing the overall circumstances of branding among the public;
Note: This particular slide analyses the positive impact of the product life cycle based on their launching year in the market. Moreover, it can focus on the maturity stage for analyzing Coca-Cola's life cycle productions.
- Coca Cola company has been optimizing by their product as well as its sales processes (Gómez, 2019);
- The process of dispensing machines has been analyzed by the real-time sources based on their market research;
- The overall marketing research has been focused on the identification of opportunities as well as weaknesses for taking to the shelves;
Note: This particular slide has been defining the relevant circumstance of the marketing research of coca-cola. Here, this company has been optimized its product as well as sales processes.
- The impact of strength by marketing campaign has been analyzed by Coca-Cola's brand popularity as a unique brand identity;
- Based on the marketing campaigning, coca-cola is ranked 6th best global brand in 2021 based on their brand value of “$57 Billion” (Suprapto, 2020);
- The weak impact of marketing campaigning is focused on the part of product diversification;
- Coca Cola has been patenting infringement lawsuits by using the custom of dispensers by recognizing users as well as customizing drinks depemnding on their preferences (Gaither et al. 2018);
Note: This slide is analyzing the impact of marketing campaigning with the factors of strength and weakness in the market. On the other hand, it can be described the coca cola's brand popularity by unique brand identifying.
- The overall report has been focused on Coca-cola's marketing communication in the digital world for analyzing the relevant elements of marketing mix by research requirement along with plan;
- The overall presentation has been prepared based on the marketing segmentation and mix based on their promotional mix along with the product life cycle by marketing research;
Note: This slide is focused on the conclusion part of this overall assessment. Here, mainly two parts have been focused on describing the overall Coca-Cola's marketing communication strategy in the digital world. Thus, it is concluded that marketing communication is effective for business development in the digital world.
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