The presented case describes Marcos de Quinto’s decision to launch a new campaign that reflects Coca Cola’s core values. The purpose of the “one brand” strategy is to attract and encourage more customers to purchase the company’s products such as Diet Coke and Coke Zero. This discussion begins by describing the company’s marketing strategy and how it can be utilised to address its challenges. The most appropriate market research strategies for the company are also described in the paper. The paper discusses the best promotional tools to support the “Taste the Feeling” campaign.
Discuss how Coca Cola’s new marketing strategy matches with its business opportunities and solves the problems faced by the company
The success of Coca Cola is attributable to its powerful marketing model. The corporation’s STP (Segment, Target and Position) approach focuses on specific regions that are informed about various products using powerful promotional strategies. Segmentation uses psychographic, demographic and geographic attributes. Geographic segmentation focuses on different regions and climatic conditions. Demographic attributes include age, income and gender (Michael & Ogwo, 2013). Psychographic segmentation focuses on issues such as people’s social classes and lifestyles.
A powerful marketing mix is implemented to support the process. The first aspect is creating superior products that resonate with the needs of different customers (D’Avino, De Simone, Iannucci, & Schiraldi, 2015). The prices are competitive and friendly to the consumers. Promotion is done using powerful campaigns such as the “Taste the Feeling” value. In terms of place, the corporation identifies specific channels and events that can be embraced in different regions to maximise sales. The company has distributors and bottlers in every continent. Such players identify the right locations and outlets to serve more customers.
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The “Taste the Feeling” strategy will ensure more people focus on a single brand. By reducing the sizes of various packages, the company will in a position to increase its profits. The strategy will unify the company’s brand and attract more consumers. The marketing approach is founded on existing opportunities such as the need for healthy products and ability to segment different regions (Cui, 2015). The use of smaller cans and packages will also maximise profits.
Although Coke remains the top soda brand in the U.S., it eked out just 0.1% volume growth in 2014, while Diet Coke volume fell 6.6%, according to the full-year data available from Beverage Digest. Assume you are the Coca Cola’s marketing manager, please suggest how to conduct marketing research to identify the reasons about Diet Coke’s sales volume drop in current market
Coca Cola’s sales have reduced significantly within the past few years. Coca Cola’s marketing manager should use a powerful market research to understand why the sales for Diet Coke have reduced (Cui, 2015). The research will be characterised by five unique steps. The first step is to define the nature of problem affecting the company’s performance. This understanding will ensure the other steps are completed successfully.
The second phase is developing an effective research plan. The use of surveys will be considered during this stage. This kind of research is appropriate because it will encourage different consumers to present their views about the brand (Familmaleki, Aghighi, & Hamidi, 2015). The targeted consumers and members of the public will identify the unique challenges associated with Diet Coke. The third stage is collecting adequate information and data. During this step, marketers, distributors and retailers will be included in the surveys. The fourth will be to analyse the information and make appropriate inferences. The fifth stage will be to implement or take appropriate action. The implemented process will be aimed at marketing Diet Coke productively in different markets.
Except the promotional tools mentioned in the case, please suggest and explain two more promotional tools for Coca Cola to clearly and persuasively communicate with the target audience the “Taste the Feeling” value provided by Coca Cola
Coca Cola intends to use powerful promotional approaches to communicate the “Taste the Feeling” value to the target audience such as television adverts, print media and out-of-home marketing. The company can utilise two promotional tools such as sales promotions and public relations. To begin with, sales promotions will ensure more people are informed about the new message (Abdelhadi, 2016). The main tools to consider include discounted products and coupons. The campaign can be combined with coupons whereby consumers can redeem prizes or free products. The strategy will attract and encourage more people to purchase the company’s beverages. Discounts will support the promotional strategy since more people will be willing to purchase the company’s beverages (Naghi & Para, 2013).
Public relations (PR) is second tool that can support Coca Cola’s campaign. The corporation should begin by designing appropriate messages to inform more people about the features of its products. Marketers can post testimonials, promotional events and corporate social responsibility (CSR) on the company’s website (Abdelhadi, 2016). Product reviews and announcements can also be included to inform more consumers about the campaign. The organisation can identify and sponsor a wide range of sporting events. The campaign will then be used to support such activities.
Coca Cola is facing numerous hurdles such as reduced sales and competition from different producers of carbonated drinks. This situation has led to a powerful campaign known as “Taste the Feeling”. The new marketing approach can be supported using appropriate PR messages and sales promotions. The model will attract the attention of many individuals and eventually maximise the company’s sales.
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