4 ‘P’s of Cocacola Company Essay Example

their products. However, Coca Cola offers an assortment of energy drinks that contain ingredients such as ginseng extract, guarana extract, caffeine, and B vitamins which provide an energizing boost for those seeking it. Additionally, they have more than 20 juice options that offer both nutrition and refreshment for individuals of all ages. Their soft drinks are renowned in the beverage industry for being iconic and groundbreaking in terms of innovation. Furthermore, their sports drinks cater to fitness enthusiasts at all levels by providing rapid hydration along with an appealing taste. Bottled and canned teas and coffees from Coca Cola satisfy both traditional tea drinkers' preferences as well as contribute to the growing coffee culture. Lastly, Coca Cola's waters and water-based beverages offer essential hydration in its purest form.

Coca-Cola's successful marketing strategy incorporates three key principles: delivering the right product to the right location at the right time accompanied by an appropriate promotional campaign.

Marketing plays a vital role in business by guaranteeing acceptability, affordability, and availability. The Coca-Cola Company employs diverse marketing strategies to achieve these factors through planning, pricing, promoting, and distributing its products/services. Their marketing mix encompasses controllable tactical tools like product, price, place, and promotion. These elements are manipulated to evoke the desired response from the target market. The term "product" refers to the amalgamation of goods and services provided by the company.

The Coca-Cola Company provides a wide selection of beverage concentrates and syrups, with over 300 brands accessible globally. Their most well-known trademark is Coca-Cola. Alongside concentrates and syrups, the company primarily focuses on finished beverages. Some examples of their diverse brand range include Coke, Fanta, Lift, Sprite, Frutopia 100% Fruit Juice,

and PowerAde.

The Coca-Cola Company offers a range of packaging options for their beverages, including different sizes and types of containers. These include plastic bottles in various capacities such as 2 litres, 1.5 litres, 600mL, and 300mL. They also provide aluminium cans with a capacity of 375mL. It is important to highlight that Coca-Cola is a well-known global trademark recognized by 94% of the world's population.

The Coca-Cola Company is a successful business with a strong reputation. It uses marketing strategies to differentiate its products from competitors and gain an advantage. One strategy involves expanding and diversifying the product line, such as introducing new flavors like Coke with lemon and Vanilla Coke in 2002, which led to increased sales and profit due to consumer demands. Furthermore, Coca-Cola shows innovation in its marketing efforts by pioneering purchasing products from vending machines via SMS messaging in 2001. In addition, the company introduced the Fridge Pack in 2002 as an innovative packaging concept.

The Fridge Pack, which contains cans packed 2-by-6, has brought several benefits:

 
• Increased consumer awareness and preference.

 

• Led to an increase in consumption rate and profitability.

Price

Price refers to the amount of money customers need to pay to acquire Coca-Cola's products. These products have different prices based on brand and size. They can be purchased at retail stores, convenience stores, petrol stations, etc.

The pricing methods/strategies of the company are determined by customer influence. Petrol stations and convenience stores typically sell Coca-Cola products at a fixed price, while retail outlets employ various pricing strategies. One such strategy is competition-based pricing, where Coca-Cola sets prices below, above, or equal to competitors' prices. During Easter (2003) sales, for instance, Coca-Cola offered competitive

prices compared to its rivals.

The prices for Coca-Cola and Pepsi soft drinks are as follows:
   

       
• Coca-Cola 2L - $1.68

       

• Pepsi 2L - $1.87

       

• Coca-Cola 375 x 18 - $9.98

       

• Pepsi 375 x 24 - $9

   

Coca-Cola often provides discounts on their products during sales and special events in order to increase sales and profits. The company distributes its products to bottling and canning operations, distributors, fountain wholesalers, as well as some fountain retailers to ensure availability for their desired customers.

The Coca-Cola Company employs intermediaries to distribute its products to various retail establishments including milk bars, corner stores, restaurants, petrol stations, and newsagents. This indicates that the company does not directly sell its products to consumers. Additionally, they implement an intensive distribution strategy.

The business's products are distributed through various channels, including retail outlets, small shops, restaurants, petrol stations, newsagents, schools, sports and entertainment venues. Vending machines play a significant role in selling the products. Promotions aim to stimulate customers' purchases. The Coca-Cola Company relies mainly on advertising to enhance consumer awareness by featuring Coca-Cola products in television commercials.

This source allows the company to access a large audience. The 'You know you want it' ad is the most recent television advertisement for Coca-Cola soft drinks, while one of the older ads promotes the idea that drinking their product improves your life. In addition to television, the company also uses radio as an advertising platform, which is cheaper than TV. Recently, Coca-Cola has benefited from participating in prestigious events such as the Olympics and FIFA World Cup, reaching

millions of viewers and providing valuable opportunities for promoting their brands.

The Coca-Cola Company incorporates personal selling as a strategy to retain customer loyalty and enhance product satisfaction. Their proficient sales team serves as the company's representative to retailers, resulting in remarkable efficacy for the business. In February 2003, The Coca-Cola Company issued a news brief about Vanilla Coke's substantial profitability, further bolstering their product reputation through media coverage. In conclusion, Coca-Cola has demonstrated exceptional proficiency in marketing mix management.

  Established in 1886, Coca-Cola currently possesses almost 400 brands across 200 countries. The company implements a "hybrid brand structure" for its products, where its primary brand, "Coke," is widely recognized in the Western market and promoted globally. Meanwhile, other brands are customized to suit local preferences and act as a testing ground for new products. Following the failures of New Coke and C2, Coca-Cola now heavily relies on extending existing brands for introducing new products rather than creating new brands. Throughout its history, Coca-Cola has effectively advanced its promotion techniques.

Previously, television was the primary means to communicate product information and enhance market standing. However, the advent of media fragmentation, technological advancements, and shifts in consumer preferences have diminished its effectiveness. In light of this, Coca-Cola devised an experiential strategy to foster a connection with consumers. By collaborating with competitive sports, Coca-Cola capitalized on its association with the essence of rivalry and cultivated a vibrant atmosphere. These promotional efforts offered consumers the assurance of complete revitalization coupled with a feeling of festivity and ardor. This comprehensive approach not only elevated the overall consumer experience but also fostered a sense of inclusivity.

Thus, the 4P's of marketing mix

has made Coca-cola brand image responsible for its success.

Sources

   
1. http://mktg-411-agrachev.blogspot.com/

   

2. http://www.oppapers.com/essays/Coca-Cola-International-Marketing-Mix/164342