StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

How Coca Cola Can Further Increase Their Customer Base - Case Study Example

Cite this document
Summary
The paper "How Coca Cola Can Further Increase Their Customer Base" states that Coca-cola maintains adhering to the four components of a superior competitive positioning. These are competitive frames of reference which look into the nature of competition and the target market…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.6% of users find it useful
How Coca Cola Can Further Increase Their Customer Base
Read Text Preview

Extract of sample "How Coca Cola Can Further Increase Their Customer Base"

How Coca Cola Can Further Increase Their Base In Reference To Marketing Strategies Introduction This paper illustrates how Coca-Cola’s international strategies and tactics work in harmony. Strategy and organizational effectiveness are essential to the success of any organization, but they are both very different. In order to understand how Coca Cola can further increase their customer base in reference to marketing strategies, many factors centered on the customers have always been given the first priority throughout its existence. In an overview of the Coca Cola Company, when it comes to manufacturing, marketing and distribution of non-alcoholic beverages, then Coca-Cola Company is the global leader, with operations in over 200 countries worldwide, the headquarter being in Atlanta, Georgia. The company has a subsidiary employee basis of 30,000 people globally. 70% of its sales volume and 80% of the company profits are from outside (Adcock 23). First, we need to commend how the company has handled its branding. Looking briefly at branding since it is the focal of customer base sentiments, it is an effort to tie together, produce and have authority and control of the relevant associations so that the business performs better. Coca-cola has enormously benefited since they have successfully managed to create a brand which presents the company as being highly distinctive, very exciting and absolutely reliable with superb adverts. Even though its impossible to have full influence over a brand due to outside influences, wise use of design, advertising, marketing, service proposition and corporate culture among others can all really help in generating associations in people’s minds that benefit the company as an organization. The audiences, competitors, delivery and service aspects of branding may differ in different industry sectors but the main principle of being transparent about what you stand for always applies (Dev & Don 12). There are many ways in which Coca Cola can further increase their customer base in reference to marketing strategies and exploration of the whole concept pertaining to customers is critical. There are three ways to increase customer base: 1. Reaching out to existing customers on a regular basis while looking for referrals. 2. Reaching out to previous customers so as to offer add-on services 3. Seeking out new customers through use of the internet and aggressive advertising. Another crucial thing is to clarifying the offer you are making to customers and one should: Clearly show the uniqueness of the product, and this is determined by its presentation. Fully understand what it is that Coca-cola is offering their customers from their point of view. Know the customer base, their needs, preferences and behaviors. Understanding your competitors like Pepsi offer the same product. Have a good understanding of what differentiates Coca-cola beverages from similar products. Emphasize this difference while marketing and ensure that the business systems in place support it. Find out ways to go about so as to exceed customer’ expectations of the coca-cola products Options This has been done through product offerings – new packaging designs, an array of choices in flavors, thrilling and captivating advertisements. Coca-cola is well known in promotions especially during festive seasons like Christmas, Easter, and major sporting events like the football world cup. Coca-cola has got excellent distribution mechanisms in place, whether home delivery or retail units. To get started on how to increase customer base in reference to marketing strategies, market research should be undertaken. This is to know what Coca-cola offers –both tangible and intangible elements. Finding out the main upcoming competitors by looking in places such as retail outlet shelves especially major supermarkets is also important. There is also need to know your customers; this is by doing a profile of your typical customers. Tips Since it is known that people typically tend to have an advertising memory of three months, it is important to minimize lag times. There should be maintenance of regular promotions and advertising. The more the information obtained regarding your customers, the better it will be in directing successful promotions to your customers. Invest in computers and run a database on your customers – this provides great opportunities to learn more about them. Another great move which coca-cola is fully incorporating is increasing market share and reinforcing the existing customer base. In challenging economic conditions, Coca-cola has managed to prove that tough times can indeed be good times for smart businesses. It is possible to maintain your customer base and even increase it therefore coming out on the other side of ‘tough times’ in a much better position than you may be in now, and certainly better than your competitors who may take the ‘retreat’ option.” The key is never to invest less on marketing but just invest smarter. You need to keep your customers on toes, informed, reminded and proud to be associated with you. There should never be a time to cut marketing –but time to cut yourself a bigger slice of the pie, since the pie itself isn’t getting any bigger (Kerin 25). It has been proven that companies which maintain their marketing during a recession increase their market share more than during good economic times. Recession is an opportunity to grow by taking customers from your competitors. Without increasing the amount spent on marketing, there can be an improvement in the yield and effectiveness of the existing marketing by focusing in the areas of known (marketing) productivity. It is even better since your more panic-stricken competitors are most likely to cut their budgets, therefore reaping the benefits of your marketing since it was being promoted in a less competitive arena. This is making coca-cola to have a stronger negotiating position when dealing with media industry whether print or electronic since they will be keener than ever to win your business. To increase customer base, also one need to get close to their customers especially during tough times, since this is when they are more likely to delay purchases, trade down to cheaper products, or simply buy less. It’s important to have in mind that most of your customers are also feeling the pinch, therefore offer the customers rewards while making it viewed as being prepared specially for them based on the ‘past relationship’ and their loyalty (Kotler & Keller 28). Conclusion Finally, it is essential that Coca-cola maintains adhering to the four components of a superior competitive positioning. These are competitive frames of reference which look into nature of competition and the target market, developing unique brand points-of-difference (POD’s) which should be desirable to consumer, deliverable by the brand and most importantly differentiation from competitors. Coca-cola has established shared brand points-of-parity (POP’s) which negate competitor points-of-difference while demonstrating category credentials. There are also brand mantras which should be short with about 3-to-5 word phrases capturing key POD’s and the indisputable spirit of the brand. Every nation around the world which is Coca-colas customer already knows its brand slogan, “Coke Side of Life.” Works Cited Adcock, Al Halborg, & Caroline Ross. "Introduction." Marketing: principles and practice 2.4 (2001): 23-34. Dev, Chekitan, & Don Schultz. "In the Mix: A Customer-Focused Approach Can Bring the Current Marketing Mix into the 21st Century." Marketing Management 14.1 (2001). Kerin, Roger. Marketing: The Core. London: McGaw-Hill, 2012. Print. Kotler, Philip, & Keller Kevin. Marketing Management 14e. London: Pearson Education Limited, 2012. Print. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“How can Coca Cola further increase their customer base in reference to Case Study - 2”, n.d.)
How can Coca Cola further increase their customer base in reference to Case Study - 2. Retrieved from https://studentshare.org/business/1617619-how-can-coca-cola-further-increase-their-customer-base-in-reference-to-marketing-strategies
(How Can Coca Cola Further Increase Their Customer Base in Reference to Case Study - 2)
How Can Coca Cola Further Increase Their Customer Base in Reference to Case Study - 2. https://studentshare.org/business/1617619-how-can-coca-cola-further-increase-their-customer-base-in-reference-to-marketing-strategies.
“How Can Coca Cola Further Increase Their Customer Base in Reference to Case Study - 2”, n.d. https://studentshare.org/business/1617619-how-can-coca-cola-further-increase-their-customer-base-in-reference-to-marketing-strategies.
  • Cited: 0 times

CHECK THESE SAMPLES OF How Coca Cola Can Further Increase Their Customer Base

Business Analysis of Coca Cola International Company

In order to maintain its market share, one of the strategies that Coco-cola can adopt is to use such promotion tactics involving 'the original cola' as it is the reason for this company's success.... This paper presents the business analysis of coca cola International Company.... coca cola International is a United States company that started operating in 1833 and is a soft drink giant.... The pricing done by this company will also depend on the type of market, whether it is customer-oriented or seller oriented....
10 Pages (2500 words) Case Study

How can Coca Cola further increase their customer base in reference to marketing strategies

This way, they will be able to cater for the large customer base comprising of travelling individuals or working persons' with tight schedules.... in regard to the size of customer base, Coca Cola should focus more on foreign markets.... Venturing more into foreign markets would, therefore, place Coca Cola at an advantage of widening its customer base thus staying ahead of Pepsi.... coca cola also formulates its goals as promises to the customer, clearly indicating its commitment towards refreshing and benefiting each person that it influences....
6 Pages (1500 words) Case Study

The Coca Cola Company Overview

The paper "The coca cola Company Overview" tells that the past few decades have been characterized by increasing levels of competition in the business world.... coca cola is an example of such an establishment that has remained a proficient player in the beverage trade amidst the increasing competition in the industry.... The company operates in nearly 200 nations and has invented over 400 brands since it was founded (The coca cola Company).... COMPANY'S OVERVIEW As far as the global manufacturing, distribution and sale of soft drinks are concerned, the coca cola company is in the lead....
9 Pages (2250 words) Case Study

Coca Cola Strategic Situation: Current and Future

This essay "coca cola Strategic Situation: Current and Future " discusses strategy for different things including production, marketing, and price, promotion is very appropriate which helps coca cola to achieve the given targets and brings high yields for its stakeholders.... Moreover, the management is working hard to understand their client's needs whether the customer is a classy retailer in the industrial market or a risk owner in rising markets....
9 Pages (2250 words) Essay

Cola Biscuit in the Coca Cola Company

This research project proposal "Cola Biscuit in the coca cola Company' suggests the introduction of a brand new product in the manufacturing industries of the Coca-Cola Company.... It proposes the launch of cola biscuits to supplement the beverages sold at Coca-cola retail stores.... This report proposes the introduction of cola Biscuits, a brand new product, into the Coca-cola chain of distribution.... cola products fully utilized primary sources like the questioners and personal interviews together with a variety of secondary sources in gauging the demand for the named product in the beverage industry....
7 Pages (1750 words) Case Study

Coca-Cola Company Online Marketing

It entails online interaction with clients, the art of delivering information to the customer through an interactive internet platform.... Website plays a major role in the field of marketing by improving the relationship with the customers and better customer services.... The website communicates to the customer through the use of text, images, and diagrams.... At this time, the company is campaigning for a double increase in its sales by the end of the year 2020....
8 Pages (2000 words) Essay

Branding Innovation of Coca-Cola

n the above figure, it can be observed that except for 2012, the sales of beverages globally have experienced steady growth and in 2016, the average sales of beverages are expected to achieve growth of 3.... our trends can be sighted within the beverage industry which will significantly affect the business decisions of the competing firms which are described below.... "Branding Innovation of Coca-cola" paper argues that Coca-cola company has been in the process of creating an impression in the energy drink market but with little success....
11 Pages (2750 words) Case Study

Advertising Campaign Plan of Coca Cola

The paper "Advertising Campaign Plan of coca cola" is a perfect example of a case study on marketing.... For this, the organization, coca cola has been considered as a case.... The paper "Advertising Campaign Plan of coca cola" is a perfect example of a case study on marketing.... For this, the organization, coca cola has been considered as a case.... The paper "Advertising Campaign Plan of coca cola" is a perfect example of a case study on marketing....
14 Pages (3500 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us