MAR4806 Rasmussen Module 6 Transferable Skills Exemplary Assignment

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***SEE ATTACHED DOCUMENT FOR PART 1 OF ALL PREVIOUS ASSIGNMENTS COMBINED***

Throughout your education, you have been asked to research topics and write papers, engage in thought-provoking discussions, consider diverse perspectives, and a host of other challenges that have required you to use both your discipline-specific skills as well as your soft skills. These are called transferable skills, and are skills that you develop that can be transferred and applied within your chosen career. Transferable skills are highly valuable and essential for career success.

Throughout this course, you have been working on a project that allowed you to demonstrate your understanding of the transferable skills. It is now time to submit your project/assignment and add a transferable skills reflection.

To complete this assignment, you will need to do the following:

Part I: Compiling Your Exemplar Project

  • Compile all of your completed course project assignment deliverables. Place them in the proper order, and save them in a single Microsoft Word document. (ALREADY DONE SEE ATTACHED DOCUMENT)

Part II: Transferable Skills Self Reflection

  1. In a minimum of 1 full page, using Microsoft Word, write an essay (full introduction and conclusion), which includes the following:
    • Describe the knowledge, skills and/or attitudes regarding each of the transferable skills that you've gained as a result of completing this particular project/assignment.
    • Discuss the ways that you are going to incorporate the transferable skills (the transferable skills that you showcased in your exemplary project) into your work within your chosen career field.
    • Describe your future goals based on the transferable skills that you've chosen to showcase.
    • Write your paper utilizing proper tone, spelling and grammar.

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Mod 06 Course Project 1 Module 06 Course Project Transferable Skills Exemplary Assignment and Reflection Matthew Marquette Rasmussen College B475/MAR4806 Author Note This paper is being submitted on March 22th, 2019 for Professor Bonnie Anderson B475/MAR4806 Section 01 Marketing Capstone. COCA COLA COMPANY 2 The coca cola company is an American corporation. It is a retailer and marketer of nonalcoholic beverages. The most known beverage is the Coca Cola which was invented by a pharmacist known as John Stith Pemberton. The company has been doing very well in the market. As a brand manager, I am supposed to launch a new product on the market (Barney, et al. 1995). This is due to the fact that the company values innovation and this is a top priority. However, understanding the business will be the first requirement prior to the launch of the product. Understanding the business will mean looking at different things such as the competitive advantage. With the level of competition continuing to rise, it is essential for every brand to have a competitive advantage. It is important to note that for a product to take leadership in any particular industry, something must stand out. The following are the competitive advantages of the Coca Cola Company. • Global presence and brand image- Coca Cola as a brand are present in more than 200 countries. Both its logo and name are easily recognized anywhere. This is one of the key strengths. Furthermore, Coca Cola's brand image is represented youthfulness and energy due to its connection with the young generation. • Large supply and distribution network- The Company has one of the largest supply and distribution network in the world. This means that it is basically a leader in the industry. It is important to note that Coca Cola as a company deals mainly with drinks. This means that it belongs to the beverage industry. This is the industry in which the Company competes. As a result, the product is to be launched in this same industry. This is because the diversion to another industry may make the product less popular. Concentrating on the same industry will also make sure that we reach the same population of people. We will also know how to deal with COCA COLA COMPANY 3 the competition since it is an industry, we are familiar with. It is important to note that there are certain factors that must be considered for a product to succeed in the beverage industry. Below are three of these factors; • Consumer knowledge- this is a vital factor for any product launching in the market. Without this knowledge, the marketing of the product will be difficult and thus failure. • Research and analysis- research and analysis are to make you as a producer find cheaper ways to make your product and also different ways on how to improve on the product you are making. • Goals- for any beverage Company to succeed, then a goal must be set. A clear welldefined goal ensures that the business does not lose focus but rather sticks with its objectives. These are some of the factors that have helped the Coca Cola Company to succeed in the beverage industry. However, the Coca Cola Company paired these factors with other marketing strategies. Coca Cola uses Pricing as a marketing strategy. They do this by first selling new products at low prices and then increasing them over time. This helps in that people have already identified with the product. This will most likely ensure sales. Sponsorship. This is also used as a marketing strategy for the Coca Cola Company (Wright, et al. 2017). The company sponsors so many events such as American Idol. By doing this, they end up creating awareness and therefore popularizing their products. The advertisement is also used as a marketing strategy by the Coca Cola Company. They have created profiles for social media accounts such as Twitter, Instagram and Facebook. This is effective especially now that almost everyone has access to the internet. In as much as Coca Cola Company has made all these advancements in the industry, other beverage companies are also growing. Pepsi and Red Bull are only two examples of the COCA COLA COMPANY 4 competitors Coca Cola faces. Red Bull has a competitive advantage over Coca Cola. The founder of Red Bull was the first to introduce energy drinks. It also has an appealing brand image. The drink is associated with so many sporting activities. It has actually surpassed Coca Cola in this sector. Pepsis competitive advantage is mainly its product portfolio. While it is a beverage company, it also has snacks that are associated with it different from the others. Pepsi as a company also focuses on technology. This is advantageous in that most people identify with technology today. This has even popularized their product more. From the research, I now understand Coca Colas key competitive advantages (Miller, et al. 1998). • Global presence- in as much as these other companies also thrive on global presence. The global presence of Coca Cola Company precedes any other company in the industry. • Financial strength- It is important to note that Coca Cola existed in the industry way before the other beverage companies. This means that they have financial capabilities that precede the rest. Initially, I thought that due to the large supply and distribution network of Coca Cola Company, then it definitely had a competitive advantage over the other companies. However, further analysis has shown that Coca Cola's Competitors also have a large supply and distribution network. For one, Pepsi even runs hotels and restaurants. However, the global presence of Coca Cola still remains a competitive advantage for other companies. This is because Coca Cola is known everywhere. Many people identify with the white and red logo of the Coca Cola Company. Due to all these factors, the best product to launch is an energy drink. This is because Coca Cola's competitive advantage will ensure it stays at the top. Furthermore, energy drinks such as Red Bull and Malt do not have the type of global presence Coca Cola has. This will also ensure COCA COLA COMPANY 5 that Coca Cola deals with all the products. The consumers will be able to access whatever they want in any Coca Cola shop (Doyle, et al. 1989). This will require a cross-functional team. Marketing is an area that will be needed in the cross-functional team. This is because the product is new and will, therefore, require the right channels to market it. Operations will also be an important area in this team. This is because the raw materials for the making of the energy drink will need good management. Lastly, Finance will be also required to help manage the financial resources delegated towards the new product. A cross-functional team is beneficial in that you get different insights from everyone. Creativity and problem solving are also increased in these teams. However, in some cases, diverse perspectives are not respected in a team. This can lead to serious demotivation and slow growth in the team. The team is also made weak by the fact that the opinion of one person is not respected. This creates a weakness in the team. This will eventually lead to the failure of the business. If cross-functional teams work together and respect each other, then the business goal will automatically be achieved. There is strength in unity. The company will approach milestones as one entity. Each person's voice will be heard and respected (Porter, et al. 2008). This gives a sense of importance and motivation. 6 COCA COLA COMPANY References Barney, J. B. (1995). Looking inside for competitive advantage. Academy of Management Perspectives, 9(4), 49-61. Doyle, P. (1989). Building successful brands: the strategic options. Journal of marketing management, 5(1), 77-95. Miller, D. (1998). Coca-Cola: a black sweet drink from Trinidad. Material cultures: Why some things matter, 169-87. Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2017). Human resource management: Gaining a competitive advantage. New York, NY: McGraw-Hill Education. Porter, M. E. (2008). Competitive advantage: Creating and sustaining superior performance. simon and schuster. 7 COCA COLA COMPANY Part 1 - Situation Analysis Digital Resources There are several relevant digital resources that I identified about Coca-Cola Company and the products it provides in the market. The most important digital resource was the company’s website. However, I also identified Yahoo Finance to be an important digital resource specifically when looking for various financial statements for Coca-Cola Company. Some of the statements include the statement of financial position, the income statement, and the statement of changes in equity. SWOT Analysis Strengths Weaknesses - An incredible brand identity - Great competition from Pepsi - Has a great distribution network - Huge concerns over some of the across the world - contents in its products Is a trusted brand by millions of - Low product diversification people - Water management issues - Very high sales - It has been blamed for increased rates - Easy access to new markets Opportunities of diabetes and obesity Weaknesses - Diversification of its product range - Issues in water sourcing issues - Accessing new markets in developing - Great competition from Pepsi nations - Indirect competition from other - Producing packaged drinking water companies such as Starbucks 8 COCA COLA COMPANY - Improvement of water management - issues - Increase the marketing of its lesser consumed products Unethical business practices by some of its partners - Brand imitation in developing countries Discussion From the SWOT analysis table presented above, there are several things that can be discussed. The first thing is what role is played by the strengths and why they are important to the core business of Coca-Cola Company. The strengths are important since they ensure that the company has high sales across the world. Having a global distribution network means that the company can easily use the channels to distribute its products thereby guaranteeing that success and sustainability is achieved. The identified weaknesses pose as huge threats that can easily push the business out of the market. Increased competition from Pepsi means that the company could easily lose its market share to competitors and this could affect the realization of its goals and objectives (Porter, 2008). These weaknesses also pose as huge risks for the business model of the company. As a result, it is imperative that they are addressed by Coca-Cola Company. For the company to pursue the identified opportunities, it must have to conduct investments in each of the opportunity. For example, increasing its product range would mean that the company would have to diversify its products. Such diversification could include coming up with new brands and products that are delivered into the market (Hu, & Chuang, 2014). The threats may be minimized through coming up with a great marketing campaign that increases brand awareness in the market. Such a strategy would be aimed at occupying some of the market share that is currently being controlled by Pepsi and other indirect competitors. The threats can also be reduced through accessing new markets especially in developing nations. Doing this COCA COLA COMPANY 9 would over time increase the sales revenue and this could increase the profitability and sustainability of the company. The list of strengths by Coca-Cola Company given this week can be compared to some of the competitive advantages that were identified in the past week. The competitive advantages that were identified include global presence, brand image, and large supply network. What I noticed is that the competitive advantages of the company are all included in the strengths in the SWOT analysis of Coca-Cola. This means that competitive advantages are strengths that can allow a company to be successful within the industry. However, some of the strengths are not competitive advantages since they are possessed by other companies in the industry such as Pepsi. From the SWOT analysis, some of the strengths can be used to overcome the weaknesses of the company. For example, the great distribution network can be used to tackle the intense rivalry and competition that the company faces from Pepsi. This can be done through expanding into new markets such as the Far East and developing countries. Doing this may increase the market value of the company while at the same time increasing its revenues from sales (Christensen, 2016). Coca-Cola is also a trusted brand by millions of people across the world. It can use this trust to correct some of the water management issues that it has experienced in the recent past. Coca-Cola Company can also use the strengths to capitalize on the opportunities in the market. One of the opportunities is expanding and diversifying its product range. Since the company has a great distribution network, it can use this strength to create awareness about the new brands in the market. Coca-Cola Company can also use its strengths to minimize the threats. One of the strengths is high sales. The high sales level may be used to counter the threat of 10 COCA COLA COMPANY intense competition from companies such as Pepsi. Countering the competition may help protect its market share that has in the recent past been encroached by other companies in the industry. Part 2 - Objectives When developing a marketing plan for the Coca-Cola, it is imperative to come up with several marketing objectives. These are goals that are supposed to be met by the plan once it has been put into place. A marketing plan is essential for any company since it helps raise awareness about the products and services that company delivers into the market (Noe, Hollenbeck, Gerhart, & Wright, 2017). One of the major objectives is to increase the sales level. Companies such as Coca-Cola aim at generating profits for their shareholders while at the same time expanding into new markets. The increase in sales should also be higher than the costs that have been incurred in various marketing strategies that have been adopted. When the sales level increases, the profitability and sustainability of the business can be guaranteed, and this can go a long way towards realizing the goals of the business. Another marketing objective is to increase product awareness in the public realm. The main aim of marketing is to allow consumers to know about various products and services and what needs and desires they can fulfill (Sirgy, & Dong-Jin, 2015). When Coca-Cola Company launches a marketing strategy, it aims at creating such awareness. When awareness is created, consumers can know what value they can receive from purchasing a given product or service. Another marketing objective that may be developed by Coca-Cola Company is brand management. Coca-Cola Company produces many brands under its name. Through proper marketing, each of the brands can be appropriately managed and this can created sustained sustainability and growth for the company. These objectives help shape the marketing plan thereby determining its success or failure in the market. 11 COCA COLA COMPANY References Christensen, H. K. (2016). Defining customer value as the driver of competitive advantage. Strategy & Leadership, 38(5), 20-25. doi:http://dx.doi.org/10.1108/10878571011072048 Hu, F., & Chuang, C. C. (2014). How can different brand strategies lead to retailers' success? Comparing manufacturers brand for Coca-Cola and private brand for Costco. Journal of Global Business Issues, 3(1), 129-135. Retrieved from https://search.proquest.com/docview/223740994?accountid=45049 Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2017). Human resource management: Gaining a competitive advantage. New York, NY: McGraw-Hill Education. Porter, M. E. (2008). Competitive advantage: Creating and sustaining superior performance. Simon and Schuster. Sirgy, M. J., & Dong-Jin, L. (2015). Setting socially responsible marketing objectives: A qualityof-life approach. European Journal of Marketing, 30(5), 20-34. Retrieved from https://search.proquest.com/docview/237020315?accountid=45049 COCA COLA COMPANY 12 Segmentation, Targeting, and Positioning Segmentation Segmentation is the division of customers into segments or groups. The groups created comprise of individuals with the same characteristics and interests. The four main types of segmentation include; demographic segmentation, geographic segmentation, behavioral segmentation, and psychographic segmentation. In demographic segmentation, customers get divided according to their sex, gender, economic status, age, religion, and family size among others ("4 types of Market segmentation and how to segment?" 2018). Behavioral segmentation divides customers according to their decision-making patterns, usage, and behavior. Psychographic segmentation considers people’s lifestyle, the activities they partake in, their interests, and their opinions. Lastly, geographic segmentation looks at the location of the individual. Market segmentation is one of the oldest marketing strategies. My ideas and opinions Reasons consumers might want to purchase your product. • Fair prices • People trust the Coca-Cola brand • It is readily available • It doesn’t have many side effects COCA COLA COMPANY 13 The types of people who would use your product • People who like to hike • People who prefer energy drinks to alcoholic drinks Occasions for which people might use your product • Family gatherings • Picnics Research Findings Why might consumers want to purchase your product? The company has a strong brand image. People often want to identify with a popular product. Coca-Cola is the most popular energy drink in the world. People can also trust the drink. The drink is readily available. The company supplies to more than 200 countries worldwide. It is rare to walk into a shop and find it lacking a Coca-Cola energy drink. The prices of the commodity are low, an aspect that attracts more customers. What types of people would want to use your product? Coca-Cola is popular with young people. People who are still in their youth will most definitely buy the drink. If you look at its commercials, it mostly advertises to a younger audience. People with children are also likely to purchase the product. Individuals in college or have attended college also use this product unlike those who aren’t or haven’t gone to college. COCA COLA COMPANY 14 On what occasions might people use your product? The drink gets sold in various clubs so, during a night out with friends, people who don’t take alcoholic beverages will most likely use it ("Coca-Cola Demographics and Consumer Insights | Numerator," n.d.). Family gatherings also include the drink in its budget because there are people who don’t use alcoholic beverages as well as the presence of children in such meetings. Work events also include such drinks. Finally, we have picnics. Comparison between researched ideas and my ideas In the first question, both discussions agree that the image of the brand, fair prices, availability, and the fact that people can trust the drink are the reasons why a person may opt for a Coca-Cola drink. In the second question, both lists argue for different analogies. The research list provides the demographics of the consumers while the list I generated focuses on the behavior of the customer. In the last question, both lists agree that family gatherings and picnics are occasions where the product could get used although the research findings report provides other events such as a night out with friends. Consumer segments that provide an excellent opportunity for the product People aged 21 – 44 Research shows that youths and people with kids purchase the product more that people outside of this demographic. At age 21, the individual is still in college, and research shows that college individuals use the product more than those who aren’t. From age 23, people start having COCA COLA COMPANY 15 kids, and small kids love drinks plus, after a person has children, they start becoming responsible which means that they switch from alcoholic to non-alcoholic beverages. People in hot areas Coca-Cola products are the best drunk when cold. Research indicates that many people drink the product at noon or in the afternoon. During this time the temperature is always high, and people develop a craving for cold products. During the cold season, people tend to shift to hot beverages such as coffee and abandon energy drinks altogether. This is why the product can do well in hot areas. Individuals in college When in college, people love to walk around holding drinks. Sometimes a person has plenty of classes they don’t find time for a decent meal, so they opt to grab an energy drink. Individuals in college purchase Coca-Cola products. Coca-Cola is associated with youthfulness and colleges are full of young people ("Coca-Cola Demographics and Consumer Insights | Numerator," n.d.). Targeting Question 1 The company should target young people in college. Research indicates that young people are the highest consumers of the products. When you look at the type of young people who consume the product, you will realize that most of them are in college. Also, when you look at the older individuals drinking Coca-Cola, i.e., people in their 30s, you will find that most of them COCA COLA COMPANY 16 attended college. College is where the habit gets picked up, and even after college, it never goes away. Question 2 Part 1 The company should target Mexico because it has a high temperature. The drink is mostly taken at noon and in the afternoon when the temperature is high. This country has a high temperature most of the year. Part 2 Mexicans have a liking for sugary products and beverages. Coca-Cola products are sugary which makes people love it. The study shows that an average Mexican consumes 700 cans of CocaCola every year than an average American. The country’s high temperature makes people have a craving for cold drinks that help quench their thirst. The drink is often refrigerated. Lastly, people love to serve non-alcoholic drinks in events. The company could take advantage of this opportunity. Part 3 The country is one of the most obese regions in the world. Individuals are trying to cut down on weight by reducing their intake of sugary products. The country has even imposed taxes on sugary items because it wants to reduce the intake of products such as Coca-Cola. COCA COLA COMPANY 17 Positioning Positioning statements uniquely identify a company by differentiating it from the other competitors in the market. For example, the positioning statement of Walt Disney World is “Where dreams come true,” ("Brand Positioning Statements (with 6 Examples) - MerlinOne," 2019). The statement not only differentiates the company from other entertainment firms but also shows what the company offers to its audience. Part 2 “We got you.” This positioning statement is for the new energy drink. It informs the audience that whatever situation they are in, the beverage will be useful. For example, on a hot day, the beverage will help quench their thirst; when they got visitors at home, they can serve the drink; If they are holding an event, they can still use the beverages and many more other situations where the beverage can come in handy. 18 COCA COLA COMPANY References 4 types of Market segmentation and how to segment? (2018, May 25). Retrieved from https://www.marketing91.com/4-types-market-segmentation-segment/ Brand Positioning Statements (with 6 Examples) - MerlinOne. (2019, January 28). Retrieved from https://merlinone.com/brand-positioning-statements-with-6-examples/ Coca-Cola Demographics and Consumer Insights | Numerator. (n.d.). Retrieved from http://snapshot.numerator.com/brand/cocacola 19 COCA COLA COMPANY Product Features and Benefits Launching an energy drink may be quite challenging for Coca Cola because it does not have sufficient experience in this field, but it is also a nice challenge that can spark creativity and innovation. To succeed in this domain, the newly launched product should have some of the basic features that customers need. One of the most important features that the proposed energy drink should have is a significantly high amount of carbohydrates. This is the source of energy, and therefore it is required in high amounts. Any physical activity in the body involves consumption of energy, and therefore there is a need for an energy drink that replaces the energy being used up. Secondly, the product should also feature potassium, which is important in the metabolism processes of carbohydrates. Potassium may be used in the form of dipotassium phosphate, monopotassium phosphate, and l-lactate (Del Coso, Portillo, Muñoz, Abián-Vicén, Gonzalez-Millán, & Muñoz-Guerra, 2013). This enhances the muscle functioning, as well as proper body hydration. During activities that trigger heavy sweating, high levels of potassium are required. That is why the product being launched at Coca Cola will feature high levels of potassium because it is primarily targeted for athletes. The recommended product will also feature between 45-160 calories for each serving. The survival of the human body is hinged on calories (Astorino, Matera, Basinger, Evans, Schurman, & Marquez, 2012). However, it should be noted high levels of calories can be detrimental and can lead to increased body weight, and therefore the product development team will come up with a befitting level of calories from this range. The emphasis of the new drink will be on content, and that is why the three product features have dwelt of ingredients rather than looks. COCA COLA COMPANY 20 One more feature that may be considered for the product is including different flavors just to tap into the consumers who want more than just the plain energy drink. We may include such flavors as lemon, blackcurrant, passion, and guarana, depending on demand and feasibility. On the whole, the product features are subject to change in the future. 21 COCA COLA COMPANY References Astorino, T. A., Matera, A. J., Basinger, J., Evans, M., Schurman, T., & Marquez, R. (2012). Effects of red bull energy drink on repeated sprint performance in women athletes. Amino acids, 42(5), 1803-1808. Del Coso, J., Portillo, J., Muñoz, G., Abián-Vicén, J., Gonzalez-Millán, C., & Muñoz-Guerra, J. (2013). Caffeine-containing energy drink improves sprint performance during an international rugby sevens competition. Amino Acids, 44(6), 1511-1519. COCA COLA COMPANY 22 Message In messaging it is a necessity to have creative ideas that satisfy brand communication and messaging processing to connect a product to its target audience. Also, field of psychology has significant knowledge that covers pictures and words that should be applied in messaging to ensure that the content reaches to firm’s audience. Therefore, creative techniques should be taken into consideration by an organization through their evaluation, execution, and development of their IMC (integrated marketing communication). A capturing message is unique as it remains in the memory of audience and it positively influences the brand (Blakeman, 2018). Processing occurs with every exposure on execution and delivery of a message in an advert or promotion. Thus, a reference to a brand refreshes one mind as they are able to recall the message and associate it with their brand. Similarly, processing reflects on how IMC campaign delivers a message to target audience and their reaction. An IMC plan applies same thematic message in diverse kinds of promotions. Also, an IMC play leverages several sources of promotions. Packaging of products plays a significant role in IMC plans through rewards that permit customers to gain some points once they purchase products. However, it is essential that one understand their target audience before they draft their message (Andrews & Shimp, 2017). For instance, in Coco-Cola case they target the young audience, and it is for this reason that they keep on coming up with a trendy message that their target audience is able to relate. Therefore, it is necessary that one identifies their customers by understanding their geographic location, income, gender, education level, and age. This information assists a firm to understand the mode which they will convey their message, and it either be on television, newspapers, or magazines. COCA COLA COMPANY 23 Content is important, and it should be developed in such a way that target audience is able to relate with it. “Share a Coke, Share happiness” is a message that not only has content, but customers are able to associate with it. Creating identity assists in building up value of a product thereby making the message compelling. Therefore, it is important that one position their message in a way that is unique from its competitors. Message in a firm’s IMC plan embodies a unique identity (Andrews & Shimp, 2017). Similarly, an effective IMC plan usually states its specific objectives. For example, Coca-Cola message primary objective is to promote more than to create awareness to their audience. In evaluating effectiveness of an IMC plan, there is a need to get feedback from a firm target audience. Also, one should assess amount of money spent on promotion and whether it was worth it. This information will assist in coming up with a unique message that the audience will want to listen to and able to relate. Marketing Ethics American marketing association (AMA) abides all its members to ethical values and norms by ensuring it promotes professionalism that is of highest standards. Values refer to a common notion of what individuals find morally good, relevant, and desirable. On the other hand, norms describe conduct standards that individuals should maintain within their professional organizations. Values are a criterion that evaluates actions of other individuals and weighing whether they meet thresholds. However, during advertising firms tend to abuse some of AMA statement of ethics (Luxton, Reid & Mavondo, 2015). For instance, in this case, they are exaggerating specific claims about benefits of their products. Therefore, it means they are giving misleading information to their audience which is not only unethical but is not morally right. Coca-Cola is categorized as part of foods and beverages, and therefore, there should be no COCA COLA COMPANY 24 room for grossly exaggeration as it may lead them into trouble with the law. Thus, there marketing ensures that they come up with an advert that is saying truth about their products. AMA has six ethical values that its members in the marketing system abide by and which affects marketers’ action daily. These six values include citizenship, transparency, respect, fairness, responsibility, and honesty. Transparency is a significant value as it ensures that organizations are open with everything that they are communicating to their audience and customers in general. It usually involves listening to constructive criticism, stating risks of their products, and expressing their message clearly (Laczniak & Murphy, 2019). Violating any of AMA values and norms by organizations may result in disciplinary action such as revocation of operation license or even worse closing a firm indefinitely. Also, customers may decide to lodge complaints that they were misled, and they would be compensated. Therefore, it is best for a firm to always abide by all AMA principles by their marketing team. Coca-Cola is a multinational corporation that cannot afford to risk tarnishing its brand name that it has struggled for years to build. Furthermore, many stakeholders associate with the firm, and thus it would be a significant loss if they were to do such an unethical act (Luxton, Reid & Mavondo, 2015). For instance, they have sponsored quite some organizations, and most would decline their association with them. This clubs and organizations globally act as marketing ambassadors, and therefore they would have lost an important component in their marketing plan. This would be bad for their sale as they would have a dead stock in their stores with many people going for competitor products such as Pepsi. Also, most of their employees would be poached by their rival firms. This would sink them as they would have lost an essential component in their firm. Since its inception, Coca-Cola has managed to keep a secret about parts of its products. Therefore, loyal employees going to COCA COLA COMPANY 25 Coca-Cola competitors would mean that they would give out all their marketing strategies and how they have managed to be dominant throughout the years with a pool of many customers all over the world (Chonko & Hunt, 2018). Thus, it is of essence that Coco-Cola ensures that their adverts are in line with AMA norms and values. This will assist them in making an informed decision when purchasing products. Best course of action I would recommend is to advise marketing team to ensure that their adverts abide by norms and values stipulated by AMA. Focus should be on stakeholders who include shareholders, employees, customers, public, and community. On customers, priority is to ensure that information in the advert is not only truthful, but customers are able to relate with it. Instead of concentrating more on telling the customers what is in the product which leads to exaggeration, an alternative would be to focus on customers’ needs and wants and market the product using that. For instance, customers want to be happy and therefore telling them that when they share a coke, they share happiness is great, and it is something they are able to associate with (Morgan, 2016). On community and public, it would be best if they start projects and foundations where they give back to society. They can do this by sponsoring more clubs and offering scholarship and offering to clear medical bill for those in dire need of help. On employees, they should ensure that they not only compensate and appreciate them by involving them in decision making. On stakeholders, they should ensure that they are transparent in all their operations by keeping them informed and updated at all times. 26 COCA COLA COMPANY References Andrews, J. C., & Shimp, T. A. (2017). Advertising, promotion, and other aspects of integrated marketing communications. Nelson Education. Blakeman, R. (2018). Integrated marketing communication: creative strategy from idea to implementation. Rowman & Littlefield. Chonko, L. B., & Hunt, S. D. (2018). Reflections on ethical issues in marketing management: An empirical examination. Journal of Global Scholars of Marketing Science, 28(1), 86-95. Laczniak, G. R., & Murphy, P. E. (2019). The role of normative marketing ethics. Journal of Business Research, 95, 401-407. Luxton, S., Reid, M., & Mavondo, F. (2015). Integrated marketing communication capability and brand performance. Journal of Advertising, 44(1), 37-46. Morgan, K. (2016). Re-Branding the American Marketing Association.
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