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Marketing Plan 1
Heading: Marketing Plan
Your name:
Course name:
Professors’ name:
Date
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Marketing Plan 2
Introduction
Coca Cola Company is one of the leading manufacturers of non-alcoholic beverages in the
world. Dr. John Pemberton, a pharmacist in Atlanta invented the Coca Cola drink. The firm is
successful and is an icon of the western and European countries. This essay seeks to explore
some of the branding strategies of the company, as well as to suggest some of the action plans
necessary for the achievement of the marketing strategies and objectives.
a. Current marketing issues and potential market development
Political issues
Coca Cola faces strict rules and regulations as the nature of its products are in the food category.
Nevertheless, little legal changes are likely to affect Coca Cola. Some of the factors include the
fact that the company’s manufacturing activities have a negative influence on the environment.
Legislation regarding environmental protection, as well as strict rules can affect the firm’s
production process. The company intends to minimize the effect through the improvement of its
processes’ effectiveness and waste reduction. Another political factor influencing the firm’s
production and performance regards the governmental changes, military takeover, and civil
unrest among other interruptions in the country. More so, business expansion in another country
relies on the areas’ political circumstances (Curd 2012).
Economic issues
A number of social factors influence the company’s performance in the Australian market. To
start with, the country’s economic recession can adversely affect the firm’s sales. This effect on
the firm would be particularly immense, as its products are unnecessary. Secondly, certain macro
economical variables like labor price and inflation can affect the company’s operations in the
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Marketing Plan 3
country. Thirdly, nations with high revenue per capita may have more to spend on products like
beverages.
Social issues
Certain factors can seriously affect Coca Cola Company’s operations. To begin with, the society
considers soft drinks like Coke as detrimental to human health; hence, it encourages people to
get health conscious. This, obviously, has an opportunity and threat on the company. As
conventional brands may decrease, Coca Cola may introduce modern products in new classes.
The company also faces opposition from social groups due to environmental concerns relating to
its production. Culture and social of a place also has a serious effect on food habits of the
citizens and this affects the company’s portfolio introduced in the country (Curd 2012).
Technological issues
The company uses technology at each step at the Coca Cola’s value chain-bottling operations,
storage in retail stores, and syrup manufacturing. To start with, the company’s strength lies on
marketing and the advertising and new marketing channels have a great influence on its
operations. The company is fast in embracing modern mediums like television, radio, and
currently internet. It is imperative for the firm to link to its clients via distinct channels.
Moreover, various packaging types help the company drive sales. Other than glass bottle, the
drinks are available in cans and plastic bottles; hence, easy to transport and store. Additionally,
modern processes and machines affect the company’s manufacturing operations. The use of the
latest technology enables the firm to produce more effectively, with enhanced quality and in
larger quantity. What is more, the drinks require to cooling before consumption. Thus,
consumption only takes place in places that have cold storage facilities (Curd 2012).
Consumer issues
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Marketing Plan 4
The company has various consumers with different met and unmet needs. The clients are highly
price sensitive and are of various tastes and preferences. Consequently, the company needs to
segment its consumers and produce products that meet the needs of all the clients.
Market, segment and category lifecycle stage and implications for brand strategies and
plans
Segmentation
Market segmentation refers to a process of dividing the market into categories of consumers with
common needs and characteristics who will possibly display the same purchase behavior. The
purpose of this process involves analyzing and understanding market, identifying opportunities,
and using or developing competitive edge to focus on the opportunities. The company divides
the consumers basing on the geographical segmentation, area of consumption, product type, and
demographics. In terms of geographical segmentation, the company segments its global and local
market into various groups. It also gives each of these divisions to manage the operations
independently (Belohlavek 2008).
In the case of area of consumption, the company divided the market based on the place of
consuming the product. Most of the beverage consumption occurs on premises like railway
station, cinemas, and restaurants among others, whereas others happen in homes. In relation to
product type, the company divides its market basing on the kind of products that purchased by
clients. These products can be cola and non-cola products. Cola products presently offer a lot of
revenue, but the amount of non-cola products is on the rise. Lastly, the company segments its
market basing on demographics, which entail age and income variables (Curd 2012).
Targeting
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Marketing Plan 5
The firm targets various marketing segments with distinct advertisements. The company’s main
market is the young generation within the age bracket of 10 and 25 years. The clients within 25
and 40 years age bracket consist of the company’s secondary market. Cola products’ main target
is the young people that need strong flavor, while the diet cola and non-cola products target the
health conscious market.
Positioning
The Coca Cola Company positions its products as thirst quenching and refreshing. The company
claims that the products bring joy, as apparent from Coca Cola’s modern tagline-“Little drops of
joy.” it also associates the products with enjoying great time with family and friends and
everyday life. It also markets its products as of high quality and consistency.
Life cycle stage
According to Saaksvuori and Immonen (2008), a new product proceeds through a series of
phases from introduction stage, growth stage, maturity stage, and decline stage. This life cycle is
significant to a product as it affects its marketing mix and marketing strategy. Coca cola product
is currently on the maturity stage after successfully through the introduction and growth stages.
The work of the company is to improve its performance in the world market to avoid it go
through the decline stage. At the maturity stage, the growth in sales reduces. Competition can
emerge the similar products. The basic objective at this phase is to guard market share whilst
maximizing profit. Here, the company can enhance its products by differentiating them from the
competing products. Moreover, it can lower prices due to competition. In terms of distribution,
the company makes it serious and can offer incentives to stimulate preference on competing
products. In the case of promotion, the company focuses on product differentiation (Niemann
2008).
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Marketing Plan 6
Competitive actions and future behavior, relating to brand strategies and plans
The company’s strengths form its current and future competitive advantage over its competitors.
First, Coca Cola has a strong brand throughout the world. This is one of the leading products of
the world, and the company has other beverages like Sprite, Fanta, and Diet Coke. The company
invested a lot time and money in building brand, which is the most recognized and has high
client recall. Second, the company economies of scale are effective in that it is the leading
producer and marketer of non-alcoholic drinks in the globe. Moreover, the Coca Cola System,
which is the supply chain and bottling system forms one of the firm’s strengths. This enables the
company to target different global and local markets, as well as to extend fast to new markets.
Potential and future competitive advantage strategies for the brand
There is a need for the company to develop future competitive strategies to ensure its continuity
in the maturity stage. It also needs to differentiate it products from the competitors in order to
enhance its market share. It can also increase its sales by making acquisitions and inorganic
growth, as well as venturing in the manufacture of bottled water and healthy drinks for the health
conscious market. It also needs to indulge in various community activities to promote its
corporate social responsibility. Besides, the company has a strong branding and marketing
strategy that helps it achieve a wide market share as compared to its competitors. The
introduction of various products, as well as its global strategy also helps it obtain a broad market.
Specific strategies
Overall product strategies
In this marketing plan, the Coca Cola Company attempts to achieve various objectives including:
To change Coca Cola’s brand reputation and image into a more local and global
responsible attitude
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Marketing Plan 7
To provide its target audience with information about the benefits and benefits of its new
products
To increase sales bases on the foreseen overtaking of carbonated drinks by healthy drinks
by 2015
To design a new packaging for its products to enhance the customer base and sales
volume
To reconstruct its production by using environmental friendly raw materials in its
packaging
Product strategy
According to Curd (2012), Coca Cola deals in the manufacture of carbonated drinks. Its actual
brand name is Coca Cola. It plans to create new packaging for its products in order to enhance
the number of consumers. In order to achieve this, the company sets to reconstruct its production
by use of environmental friendly materials in Coca Cola packaging. For instance, the company
plans to employ biodegradable plastic, as well as the re-usable glass containers. Additionally, the
previous characteristics of the Coca Cola products include carbonated water, sugar, caffeine,
phosphoric acid, caramel color, citric acid, natural flavor, and high fructose corn syrup. To
enhance its products the company intends to incorporate new features include less natural
coloring, carbonated water, natural ingredients to substitute sugar cane, citric acid, natural flavor,
and phosphoric acid.
Place and distribution strategy
Curd (2012) says that the company sells it is products in various parts of the country. It does this
through distributing its products to the various, convenient stores all over the country, such as,
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Marketing Plan 8
clubs and bars as its product is among the mixers utilized in alcohol mixing. Moreover, the
company indirectly distributes its products to supermarkets chains like Safeway.
Pricing strategies
Since Coca Cola has a big market share as compared to its competitors, it has a high consumer
price sensitivity imposed by the competitor pressures. The company’s wide market share also
accounts for the high sales volume and a subsequent high profit margin, as the company products
are fast selling consumer goods. As a result, there is a need for a penetration strategy. In this
case, penetration entails the process in which a company sets low instead of high prices for its
products in order to acquire a probably leading market share. This is only achievable when there
is a highly flexible demand for the company products. Moreover, the company can attain this if
demand for its products is price-sensitive, there is no acquisition of the new consumers, and that
the existing clients buy many products due to low price. An appropriate penetration pricing
strategy can cause huge volumes of sales, as well as wide market shares (Curd 2012).
The strategy can also enhance complimentary products. The company can have the major
product priced lowly in order to attract sales. The approach will work effectively in boosting the
re-use of Coca-Cola packaging through a beverage holder purchased and refilled. The possible
limitation of this strategy is the probability of competitors doing a similar thing through lowering
their prices; thus destroying any benefit of reducing prices.
Price penetration is suitable in industries where standardization is vital. The product that attains
market penetration regularly is often the industry standard regarding the latest Coca Cola
beverage vessel, it is attempting to develop a standardization of how customers utilize the
beverage container. The company is possible to face stiff competition immediately after
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Marketing Plan 9
initiating the product. Nevertheless, a product that gets a large market penetration becomes an
industry standard; hence the marginalization of the other superior products (Curd 2012).
Promotional strategy
As Curd (2012) reports, Coca Cola Company in Australia communicates its retailers and
consumers about its products in various ways. The information regarding the company and its
products is accessible through the direct mailings, internet, and in person. The firm’s
communicational strategies attempt to differentiate products from its competitors’ products.
Furthermore, the company sets to employ advertising approach in order to promote its products.
This is a paid kind of non-personal promotion and presentation of goods, ideas, or services by a
recognized sponsor. Here, the company has a wide range of advertising options including
billboards, TV adverts, street or public furniture, online advertising, and newspaper and
magazines. In terms of online advertising, the company can use social network services like You
Tube, Yahoo, Google, Twitter, Facebook, and MySpace. This is beneficial in that it will attract
as many clients as possible, as the internet reaches out to various target markets all over the
world.
Coke is a big worldwide brand with great brand awareness. The focus of advertising will be on
TV campaigns through company website, and spreads virally on social video like YouTube. The
avert must gain cult reputation and in theory the intended market will spread virally on the
website. Accessing the intended market via more sport sponsorships will also boost the product’s
lifestyle reputation and the new healthy product.
In addition, Curd (2012) asserts that the company can also use personal selling to enhance its
amount of sales. The sale force requires a communication with the present distribution channels
for the company. Currently, Coca Cola Enterprise distributes vending units and cooler fridges to
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Marketing Plan 10
sport halls, shops, and community centers. The company can also use sale promotion forms
including short-term price reduction. It can also use loyalty programs, in which customers gather
miles, points, or credit for making purchases and later exchange them for rewards. Coupons are
useful in the company’s marketing strategy, as they are accessible online. Here, customers can
print them and present them in to the company stores. The firm may also use contest, games, and
sweepstakes in the selling promotion.
In terms of public relations, the company will build good connections with its different publics
through obtaining positive publicity, develop a favorable corporate reputation, and head or
handle unacceptable stories, events, and rumors. The company intends to use temporary
incentives to motivate sale or purchase of a service or product. Coca Cola Company may use
press releases to communicate to its retailers and customers. Besides, direct marketing is another
possible marketing strategy that the company can use. Here, direct communications together
with targeted individual customers to get an instant response and develop long-term relationships
(Curd 2012).
a. Brand marketing action plans and tactics
Specific actions and activities devised to meet brand objectives and strategies
Overall brand action plan
To achieve its marketing objectives, the company ought to implement its strategies effectively
and appropriately. To begin with, the company will change its brand image and reputation into a
more local and global attitude by differentiating its products from its competitors’, as well as
making them meet all the customer needs, both locally and international. Secondly, the company
will provide the intended market with sufficient information about the benefits of its products
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Marketing Plan 11
through extensive marketing and promotional activities. Here, the company will use advertising,
personal selling, direct marketing, and public relations.
To increase its sales volume on its products by 2015, the company will conduct marketing and
promotional campaigns to increase market’s awareness of the need to consume its Coca Cola
products. Furthermore, it needs to design modern packaging for its products to improve their
purchasing behavior by using convenient, environmentally friendly, and portable materials. This
will help in the easy access and carrying of the products by the clients. Still on packaging, the
company will use materials that are easily recognizable by the intended clients. Consequently,
The Company will acquire new and retain the existing clients, and in turn, increase its sale
volume and profit margin (Curd 2012).
Furthermore, the company will comply with the country’s legal regulations in order to improve
its operations and performance. To overcome the social challenges regarding production of
healthy soft drinks, the company will ensure that it uses products and materials that are harmless
to the human health. It will also take the responsibility of educating the public on healthy eating
and drinking habits in order to avoid any association of poor health to Coca Cola products. The
company also intends to make its operations to bring economical advantages to itself, country,
and the society, through creation of job opportunities and involvement in development activities
(Curd 2012).
Product action plan
To improve its products the company intends to integrate new features including minimal natural
coloring, carbonated water, natural ingredients to substitute sugar cane, citric acid, natural flavor,
and phosphoric acid (CTTC 2011).
Pricing action plan
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Marketing Plan 12
There is a need for a penetration strategy, which entails the process in which a company sets low
instead of high prices for its products in order to acquire a probably leading market share. This is
only achievable when there is a highly flexible demand for the company products (CTTC 2011).
Place and distribution action plan
The company intends to sell it is products in various parts of the country. It will do this through
distributing its products to the various, suitable stores all over the country like clubs and bars as
its product is among the mixers utilized in alcohol mixing. Moreover, the company indirectly
distributes its products to supermarkets chains (CTTC 2011).
Promotion action plan
In order to improve its sales volume, customer base, and differentiate its products from the
competing products, the company sets to conduct massive and extensive promotional activities
and activities. Some of these activities include use advertising, public relations, direct marketing,
and personal selling (CTTC 2011). The table below shows a detailed outline and description of
the company’s action plans regarding the achievement of its objectives and strategies.
Action plan
Date of commencing
Date of completion
Action
Person in-charge
Launching of the new
product plan 2013
2-4 months upon
release
TV advertising,
billboards, street
furniture, magazines,
newspapers, radio,
Online advertising
Use of social media
Brand manager
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Marketing Plan 13
like You Tube,
Facebook, and Twitter
2013
3 months upon release
Public relations like
press release
Personal selling
Marketing manager
Launching the product
2013
4-5 months upon
release
Sales promotion like
use of loyalty
programs, online
couponing, coupons,
price deals, contest,
games, sweepstakes,
and online interactive
game
Brand manager
3 months after release
4-5 months upon
release
Marketing manager
Conclusion
Coca Cola Company has a strong brand that gives enhances its customer base, sales volume, and
profit margin. Despite the stiff competition from its competitors like Pepsi companies, it is one
of the market beverage leaders in Australia. To maintain its position in the market, the company
developed various marketing and branding strategies and objectives. Certain political,
economical, social, technological, and consumer issues greatly affect company’s performance
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Marketing Plan 14
and operations. These factors also have a serious implication on the overall product, and the
marketing mix like product, price, promotional, and distribution and place strategies. The plan
shows that the company needs to implement the strategies through some action plans, such as,
advertising, personal selling, direct marketing, and public relations.
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Marketing Plan 15
References
Belohlavek, P 2008, Unicist Marketing Mix-2
nd
ed., The Unicist Research Institute, Blue Eagle
Group. Pp.11-30
CTTC 2011, 5-Year Strategic Marketing Plan, Pp. 1-132.
http://industry.visitcalifornia.com/media/uploads/files/editor/CTTC%205-
Year%20Strategic%20Plan%20FINAL.pdf
Curd, M 2012, Marketing Plan: Coca-Cola in 2015. Pp. 1-12.
http://www.nice-cuppa tea.co.uk/marketingplan.pdf
Niemann, S 2008, Design of Sustainable Product Life Cycles, Springer, Berlin. 2008.
Saaksvuori, A & Immonen, A 2008, Product Lifecycle Management, Springer, Berlin. Pp. 50-80.

Unformatted Attachment Preview

Marketing Plan 1 Heading: Marketing Plan Your name: Course name: Professors’ name: Date Marketing Plan 2 Introduction Coca Cola Company is one of the leading manufacturers of non-alcoholic beverages in the world. Dr. John Pemberton, a pharmacist in Atlanta invented the Coca Cola drink. The firm is successful and is an icon of the western and European countries. This essay seeks to explore some of the branding strategies of the company, as well as to suggest some of the action plans necessary for the achievement of the marketing strategies and objectives. a. Current marketing issues and potential market development Political issues Coca Cola faces strict rules and regulations as the nature of its products are in the food category. Nevertheless, little legal changes are likely to affect Coca Cola. Some of the factors include the fact that the company’s manufacturing activities have a negative influence on the environment. Legislation regarding environmental protection, as well as strict rules can affect the firm’s production process. The company intends to minimize the effect through the improvement of its processes’ effectiveness and waste reduction. Another political factor influencing the firm’s production and performance regards the governmental changes, military takeover, and civil unrest among other interruptions in the country. More so, business expansion in another country relies on the areas’ political circumstances (Curd 2012). Economic issues A number of social factors influence the company’s performance in the Australian market. To start with, the country’s economic recession can adversely affect the firm’s sales. This effect on the firm would be particularly immense, as its products are unnecessary. Secondly, certain macro economical variables like labor price and inflation can affect the company’s operations in the Marketing Plan 3 country. Thirdly, nations with high revenue per capita may have more to spend on products like beverages. Social issues Certain factors can seriously affect Coca Cola Company’s operations. To begin with, the society considers soft drinks like Coke as detrimental to human health; hence, it encourages people to get health conscious. This, obviously, has an opportunity and threat on the company. As conventional brands may decrease, Coca Cola may introduce modern products in new classes. The company also faces opposition from social groups due to environmental concerns relating to its production. Culture and social of a place also has a serious effect on food habits of the citizens and this affects the company’s portfolio introduced in the country (Curd 2012). Technological issues The company uses technology at each step at the Coca Cola’s value chain-bottling operations, storage in retail stores, and syrup manufacturing. To start with, the company’s strength lies on marketing and the advertising and new marketing channels have a great influence on its operations. The company is fast in embracing modern mediums like television, radio, and currently internet. It is imperative for the firm to link to its clients via distinct channels. Moreover, various packaging types help the company drive sales. Other than glass bottle, the drinks are available in cans and plastic bottles; hence, easy to transport and store. Additionally, modern processes and machines affect the company’s manufacturing operations. The use of the latest technology enables the firm to produce more effectively, with enhanced quality and in larger quantity. What is more, the drinks require to cooling before consumption. Thus, consumption only takes place in places that have cold storage facilities (Curd 2012). Consumer issues Marketing Plan 4 The company has various consumers with different met and unmet needs. The clients are highly price sensitive and are of various tastes and preferences. Consequently, the company needs to segment its consumers and produce products that meet the needs of all the clients. Market, segment and category lifecycle stage and implications for brand strategies and plans Segmentation Market segmentation refers to a process of dividing the market into categories of consumers with common needs and characteristics who will possibly display the same purchase behavior. The purpose of this process involves analyzing and understanding market, identifying opportunities, and using or developing competitive edge to focus on the opportunities. The company divides the consumers basing on the geographical segmentation, area of consumption, product type, and demographics. In terms of geographical segmentation, the company segments its global and local market into various groups. It also gives each of these divisions to manage the operations independently (Belohlavek 2008). In the case of area of consumption, the company divided the market based on the place of consuming the product. Most of the beverage consumption occurs on premises like railway station, cinemas, and restaurants among others, whereas others happen in homes. In relation to product type, the company divides its market basing on the kind of products that purchased by clients. These products can be cola and non-cola products. Cola products presently offer a lot of revenue, but the amount of non-cola products is on the rise. Lastly, the company segments its market basing on demographics, which entail age and income variables (Curd 2012). Targeting Marketing Plan 5 The firm targets various marketing segments with distinct advertisements. The company’s main market is the young generation within the age bracket of 10 and 25 years. The clients within 25 and 40 years age bracket consist of the company’s secondary market. Cola products’ main target is the young people that need strong flavor, while the diet cola and non-cola products target the health conscious market. Positioning The Coca Cola Company positions its products as thirst quenching and refreshing. The company claims that the products bring joy, as apparent from Coca Cola’s modern tagline-“Little drops of joy.” it also associates the products with enjoying great time with family and friends and everyday life. It also markets its products as of high quality and consistency. Life cycle stage According to Saaksvuori and Immonen (2008), a new product proceeds through a series of phases from introduction stage, growth stage, maturity stage, and decline stage. This life cycle is significant to a product as it affects its marketing mix and marketing strategy. Coca cola product is currently on the maturity stage after successfully through the introduction and growth stages. The work of the company is to improve its performance in the world market to avoid it go through the decline stage. At the maturity stage, the growth in sales reduces. Competition can emerge the similar products. The basic objective at this phase is to guard market share whilst maximizing profit. Here, the company can enhance its products by differentiating them from the competing products. Moreover, it can lower prices due to competition. In terms of distribution, the company makes it serious and can offer incentives to stimulate preference on competing products. In the case of promotion, the company focuses on product differentiation (Niemann 2008). Marketing Plan 6 Competitive actions and future behavior, relating to brand strategies and plans The company’s strengths form its current and future competitive advantage over its competitors. First, Coca Cola has a strong brand throughout the world. This is one of the leading products of the world, and the company has other beverages like Sprite, Fanta, and Diet Coke. The company invested a lot time and money in building brand, which is the most recognized and has high client recall. Second, the company economies of scale are effective in that it is the leading producer and marketer of non-alcoholic drinks in the globe. Moreover, the Coca Cola System, which is the supply chain and bottling system forms one of the firm’s strengths. This enables the company to target different global and local markets, as well as to extend fast to new markets. Potential and future competitive advantage strategies for the brand There is a need for the company to develop future competitive strategies to ensure its continuity in the maturity stage. It also needs to differentiate it products from the competitors in order to enhance its market share. It can also increase its sales by making acquisitions and inorganic growth, as well as venturing in the manufacture of bottled water and healthy drinks for the health conscious market. It also needs to indulge in various community activities to promote its corporate social responsibility. Besides, the company has a strong branding and marketing strategy that helps it achieve a wide market share as compared to its competitors. The introduction of various products, as well as its global strategy also helps it obtain a broad market. Specific strategies Overall product strategies In this marketing plan, the Coca Cola Company attempts to achieve various objectives including: • To change Coca Cola’s brand reputation and image into a more local and global responsible attitude Marketing Plan • 7 To provide its target audience with information about the benefits and benefits of its new products • To increase sales bases on the foreseen overtaking of carbonated drinks by healthy drinks by 2015 • To design a new packaging for its products to enhance the customer base and sales volume • To reconstruct its production by using environmental friendly raw materials in its packaging Product strategy According to Curd (2012), Coca Cola deals in the manufacture of carbonated drinks. Its actual brand name is Coca Cola. It plans to create new packaging for its products in order to enhance the number of consumers. In order to achieve this, the company sets to reconstruct its production by use of environmental friendly materials in Coca Cola packaging. For instance, the company plans to employ biodegradable plastic, as well as the re-usable glass containers. Additionally, the previous characteristics of the Coca Cola products include carbonated water, sugar, caffeine, phosphoric acid, caramel color, citric acid, natural flavor, and high fructose corn syrup. To enhance its products the company intends to incorporate new features include less natural coloring, carbonated water, natural ingredients to substitute sugar cane, citric acid, natural flavor, and phosphoric acid. Place and distribution strategy Curd (2012) says that the company sells it is products in various parts of the country. It does this through distributing its products to the various, convenient stores all over the country, such as, Marketing Plan 8 clubs and bars as its product is among the mixers utilized in alcohol mixing. Moreover, the company indirectly distributes its products to supermarkets chains like Safeway. Pricing strategies Since Coca Cola has a big market share as compared to its competitors, it has a high consumer price sensitivity imposed by the competitor pressures. The company’s wide market share also accounts for the high sales volume and a subsequent high profit margin, as the company products are fast selling consumer goods. As a result, there is a need for a penetration strategy. In this case, penetration entails the process in which a company sets low instead of high prices for its products in order to acquire a probably leading market share. This is only achievable when there is a highly flexible demand for the company products. Moreover, the company can attain this if demand for its products is price-sensitive, there is no acquisition of the new consumers, and that the existing clients buy many products due to low price. An appropriate penetration pricing strategy can cause huge volumes of sales, as well as wide market shares (Curd 2012). The strategy can also enhance complimentary products. The company can have the major product priced lowly in order to attract sales. The approach will work effectively in boosting the re-use of Coca-Cola packaging through a beverage holder purchased and refilled. The possible limitation of this strategy is the probability of competitors doing a similar thing through lowering their prices; thus destroying any benefit of reducing prices. Price penetration is suitable in industries where standardization is vital. The product that attains market penetration regularly is often the industry standard regarding the latest Coca Cola beverage vessel, it is attempting to develop a standardization of how customers utilize the beverage container. The company is possible to face stiff competition immediately after Marketing Plan 9 initiating the product. Nevertheless, a product that gets a large market penetration becomes an industry standard; hence the marginalization of the other superior products (Curd 2012). Promotional strategy As Curd (2012) reports, Coca Cola Company in Australia communicates its retailers and consumers about its products in various ways. The information regarding the company and its products is accessible through the direct mailings, internet, and in person. The firm’s communicational strategies attempt to differentiate products from its competitors’ products. Furthermore, the company sets to employ advertising approach in order to promote its products. This is a paid kind of non-personal promotion and presentation of goods, ideas, or services by a recognized sponsor. Here, the company has a wide range of advertising options including billboards, TV adverts, street or public furniture, online advertising, and newspaper and magazines. In terms of online advertising, the company can use social network services like You Tube, Yahoo, Google, Twitter, Facebook, and MySpace. This is beneficial in that it will attract as many clients as possible, as the internet reaches out to various target markets all over the world. Coke is a big worldwide brand with great brand awareness. The focus of advertising will be on TV campaigns through company website, and spreads virally on social video like YouTube. The avert must gain cult reputation and in theory the intended market will spread virally on the website. Accessing the intended market via more sport sponsorships will also boost the product’s lifestyle reputation and the new healthy product. In addition, Curd (2012) asserts that the company can also use personal selling to enhance its amount of sales. The sale force requires a communication with the present distribution channels for the company. Currently, Coca Cola Enterprise distributes vending units and cooler fridges to Marketing Plan 10 sport halls, shops, and community centers. The company can also use sale promotion forms including short-term price reduction. It can also use loyalty programs, in which customers gather miles, points, or credit for making purchases and later exchange them for rewards. Coupons are useful in the company’s marketing strategy, as they are accessible online. Here, customers can print them and present them in to the company stores. The firm may also use contest, games, and sweepstakes in the selling promotion. In terms of public relations, the company will build good connections with its different publics through obtaining positive publicity, develop a favorable corporate reputation, and head or handle unacceptable stories, events, and rumors. The company intends to use temporary incentives to motivate sale or purchase of a service or product. Coca Cola Company may use press releases to communicate to its retailers and customers. Besides, direct marketing is another possible marketing strategy that the company can use. Here, direct communications together with targeted individual customers to get an instant response and develop long-term relationships (Curd 2012). a. Brand marketing action plans and tactics Specific actions and activities devised to meet brand objectives and strategies Overall brand action plan To achieve its marketing objectives, the company ought to implement its strategies effectively and appropriately. To begin with, the company will change its brand image and reputation into a more local and global attitude by differentiating its products from its competitors’, as well as making them meet all the customer needs, both locally and international. Secondly, the company will provide the intended market with sufficient information about the benefits of its products Marketing Plan 11 through extensive marketing and promotional activities. Here, the company will use advertising, personal selling, direct marketing, and public relations. To increase its sales volume on its products by 2015, the company will conduct marketing and promotional campaigns to increase market’s awareness of the need to consume its Coca Cola products. Furthermore, it needs to design modern packaging for its products to improve their purchasing behavior by using convenient, environmentally friendly, and portable materials. This will help in the easy access and carrying of the products by the clients. Still on packaging, the company will use materials that are easily recognizable by the intended clients. Consequently, The Company will acquire new and retain the existing clients, and in turn, increase its sale volume and profit margin (Curd 2012). Furthermore, the company will comply with the country’s legal regulations in order to improve its operations and performance. To overcome the social challenges regarding production of healthy soft drinks, the company will ensure that it uses products and materials that are harmless to the human health. It will also take the responsibility of educating the public on healthy eating and drinking habits in order to avoid any association of poor health to Coca Cola products. The company also intends to make its operations to bring economical advantages to itself, country, and the society, through creation of job opportunities and involvement in development activities (Curd 2012). Product action plan To improve its products the company intends to integrate new features including minimal natural coloring, carbonated water, natural ingredients to substitute sugar cane, citric acid, natural flavor, and phosphoric acid (CTTC 2011). Pricing action plan Marketing Plan 12 There is a need for a penetration strategy, which entails the process in which a company sets low instead of high prices for its products in order to acquire a probably leading market share. This is only achievable when there is a highly flexible demand for the company products (CTTC 2011). Place and distribution action plan The company intends to sell it is products in various parts of the country. It will do this through distributing its products to the various, suitable stores all over the country like clubs and bars as its product is among the mixers utilized in alcohol mixing. Moreover, the company indirectly distributes its products to supermarkets chains (CTTC 2011). Promotion action plan In order to improve its sales volume, customer base, and differentiate its products from the competing products, the company sets to conduct massive and extensive promotional activities and activities. Some of these activities include use advertising, public relations, direct marketing, and personal selling (CTTC 2011). The table below shows a detailed outline and description of the company’s action plans regarding the achievement of its objectives and strategies. Action plan Date of commencing Date of completion Action Person in-charge Launching of the new 2-4 months upon TV advertising, Brand manager product plan 2013 release billboards, street furniture, magazines, newspapers, radio, Online advertising Use of social media Marketing Plan 13 like You Tube, Facebook, and Twitter 2013 3 months upon release Public relations like Marketing manager press release Personal selling Launching the product 4-5 months upon Sales promotion like 2013 use of loyalty release Brand manager programs, online couponing, coupons, price deals, contest, games, sweepstakes, and online interactive game 3 months after release 4-5 months upon Marketing manager release Conclusion Coca Cola Company has a strong brand that gives enhances its customer base, sales volume, and profit margin. Despite the stiff competition from its competitors like Pepsi companies, it is one of the market beverage leaders in Australia. To maintain its position in the market, the company developed various marketing and branding strategies and objectives. Certain political, economical, social, technological, and consumer issues greatly affect company’s performance Marketing Plan and operations. These factors also have a serious implication on the overall product, and the marketing mix like product, price, promotional, and distribution and place strategies. The plan shows that the company needs to implement the strategies through some action plans, such as, advertising, personal selling, direct marketing, and public relations. 14 Marketing Plan 15 References Belohlavek, P 2008, Unicist Marketing Mix-2nd ed., The Unicist Research Institute, Blue Eagle Group. Pp.11-30 CTTC 2011, 5-Year Strategic Marketing Plan, Pp. 1-132. http://industry.visitcalifornia.com/media/uploads/files/editor/CTTC%205Year%20Strategic%20Plan%20FINAL.pdf Curd, M 2012, Marketing Plan: Coca-Cola in 2015. Pp. 1-12. http://www.nice-cuppa tea.co.uk/marketingplan.pdf Niemann, S 2008, Design of Sustainable Product Life Cycles, Springer, Berlin. 2008. Saaksvuori, A & Immonen, A 2008, Product Lifecycle Management, Springer, Berlin. Pp. 50-80. Name: Description: ...
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