Marketing Mix For Successful Branding And Launch Of The Product

When Coca cola bring refreshment, value, joy and fun to their stakeholders, then they successfully nurture and protect their brands, particularly Coca-Cola that is the key to fulfilling our ultimate obligation to provide consistently attractive returns to the owners of our business. Marketing positioning Local marketing strategy enables Coke to listen to all the voices around the world asking for beverage that span the entire spectrum of tastes and occasions. What people want in a beverage is a reflection of who they are, where they live, how they work and play, and how they relax and recharge. Whether you’re a student in the United States enjoying are freshing Coca –Cola a woman in Italy taking a tea break , a child in Peru asking for a juices drink, or a couple in Korea buying bottled water after a run together, “Coca cola is there for you. Coca cola are determined not only to make great drinks, but also to contribute to communities around the world through our commitments to education, health, well ness, and diversity. Coke Strives to be a good neighbor, consistently shaping business decisions to improve the quality of life in the communities in which coke does business. It’s a special thing to have billions of friends around the world, and coke never forgets it.

Organizations usually employ market segmentation in competitive markets for appropriate targeting of customers. This paper provides an analysis of how market segmentation can be utilized for competitive advantage as well as the need for ensuring diversification for sustainable growth.

So many companies segment their customers by size and other such criteria because this approach is easy to carry out, and the companies falling into these gross categories do tend to have similar needs. But to have a truly actionable segmentation scheme, you must divide your customers into much more precise groupings based specifically on their needs.

Coca Cola was focused on the globalization of its brand. Coca Cola has the widest variety in the beverage industry comprising of around 3300 products and it exists in almost 200 countries. Coca Cola has a global brand value and loyalty as compared to

Coca-Cola and PepsiCo compete at length with each other among an extensive list of other brands. A key concern for both of these companies in 2011 was their capability to market, produce, and distribute across national boundaries of a single nation. This concern has decreased as both companies were able to push though their limitations and were able to establish manufacturing plants in countries across the globe. (Coca Cola Company, 2011)

In order to market the product into the market successfully, marketers need to have some marketing strategy to enter the desired market and make profit. Market segmentation is the process of dividing a market into subsets of consumers with common needs or characteristics (Schiffman et al., 2011). Understanding the market size and segmentation is valuable, but the keys to effective targeting is to know just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends ( Berry, 1999).

The segmentation has been done on the basis of buying behavior of the customers. Knowledge of segment buying behavior can help redirect marketing resources for profit gain.

As every customer has unique needs and expectations towards certain products, the ultimate goal of market segmentation is to organize customers into groups which allows targeting of customers with similar needs of and response to the products. The key is to minimize differentiation within each segment

The Coca Cola company is perceived to be the most famous trademark on the globe, and it is equally so. The company claims more than 400 brands that appeal to a wide range of individuals throughout the world. They are in a position to fulfill needs of every one of their buyers making their experience with their beverages a better one. The entity’s drinks entice a lot of people across all races, age, and gender. Coca Cola is outstanding for its overall popularity as its items are sold in over four hundred countries in the world, while major contenders like Pepsi are just available in very few countries. Such a competitive advantage has placed

Coca-Cola Company has realized significant growth since its establishment to become a global leader in the marketing, manufacturing, and distribution of syrup and soft drinks. Out of the four generic strategies, the company has followed the differentiation strategy to make its products unique in the market. Its interest is to maximize the market share through the development of the most innovative products and the establishment of effective strategies to influence the customer’s decisions. In such a way, the company has integrated various strategies to ensure that desirable results are attained in the market. Its strategic choices align with the differentiation strategy in an attempt to make its products unique and meet diverse market requirements. To reduce its weaknesses, the company should consider exploiting key opportunities in the market including venturing in the packaging of water, promotion of new brands, and launching of healthy products. In particular, the vision and mission statement of Coca-Cola seems to have reconfirmed and changed in this process of company’s strategic analysis.

Firstly we start with the sociological or also known as demography. This is the study of human population from many perspective such as race, ethnicity, gender and many other. For Coca Cola to serve in different country require a many marketing research to be done. Coca Cola currently serves in 6 different region which is the North America, Latin America, Europe Eurasia, Africa, and Asia Pacific. Different country has different type of demand for Coca Cola. As consumer now become more health conscious, they have started to develop product such as coke light, coke zero which contain zero sugar content. This is a reactive approach taken by Coca Cola to adapt to the ever changing environment in order to stay competitive in the industry.

Coca Cola’s international achievement can be attributed to numerous of things, but in order to think globally one must first think locally. This is the main message that Coca Cola Company place huge emphasis on whenever they are entering a country. (Miller) Coca Cola has formatted its approach strategically using a tactical method, this is done to provide the appropriate marketing activities and beverage to its customers. As part of Coca Cola vision to taste the same around the world, they have chosen to standardize its product and manufacturing process. In Trinidad and Tobago the local name for Coca Cola is “Coke”. From the perspective of consumers the key conceptual categories are not the flavours and colas that marketer hold in high regard, but what we refer to locally as the ‘black’ sweet drink. (Miller) Trinbagonian’s are particularly fond of sugar and sweet products this is linked to the days of the sugar cane field. Coke came into Trinidad in 1939, while under the British Government. (Miller)

Thus, this research seeks to better understand the processes used by organisations in the development of a successful strategic segmentation, as well as its impact and influence on consumer’s preferences and behaviour. The methodology initially developed was both quantitative and qualitative, by the means of Triangulation. As developed by Hammersley (1996) and later on stated by Lee and Lings (2008), Triangulation allows the researcher to mix both quantitative and qualitative methods, in order to achieve a more exact and consistent result.

I am going to look at how a business successfully applies the marketing mix when launching a product. I am also going to compare and contrast traditional and digital methods of communication. I am also going to look at how Sony, when launching their Playstation 4, have applied the marketing mix, identified their target market and give recommendations on how they could have launched this product better.

According to Blythe (2010), segmentation, targeting and positioning are fundamental to the concept of meeting customer need. This essay will outline and analyse these fundamental tools of marketing in an academic setting, in addition to, assessing how an organisation of my choice applies them in a working environment. Included in this essay, will be an academic discussion of the advantages of market segmentation, targeting and positioning drawing upon views of various scholars. Furthermore, I will provide a profile of my chosen organisation as well as an assessment of their market segmentation, targeting and positioning strategies. The essay will finish with a summary of the main points and will draw conclusions based on the evidence which has been presented.