The concept evolved post World War II when it became difficult for the marketers to sell goods and services and generate revenue because the customers were extremely selective in choosing the product. Marketing concept revolves mainly around important elements like understanding customer wants, developing techniques in satisfying customer requirements and checking whether the customer wants are satisfied or not. The process of marketing concepts is initiated by conducting a market research which identifies customer wants. Although, the prime objective of the various marketing departments is to understand customer requirements but the tasks and responsibilities vary accordingly. The market concept varies accordingly and lays emphasis on devising techniques which help in gaining competitive advantage over its competitors. The selling involved in this stage is also referred to consultative selling and is revolved around developing customer orientation services. However, CRM is one of the most difficult ways of executing business activities which also leads to increase in the organizational output and also customer base (Buttle, 2012). The marketing concept is almost synonymous with the CRM techniques and methods which help in initiating and facilitating customer interaction and also developing the existing business process to a large extent (Buttle, 2012). Marketing data, software and varied other technologies play a pivotal role in conducting a market research and then developing strategies for satisfying the customer wants. It is also sometimes referred as the business strategy which is more or less multifunctional and affects the organization on the whole including departments of marketing, IT, Human Resource, management etc. These technologies help in identifying the competitor requirements and also assess it carefully and understand the competitor strategic positioning clearly. It included topics like opportunity and database management which helps in identification of opportunities and help in completion of the projects.
This paper “Marketing Concept of Coca Cola” will highlight the definition of marketing concepts and the various marketing methodologies utilized by Coca Cola to acquire and retain the customers. The author of the study will also deal with the various marketing strategies…
It explains all the insights and necessary description of how Coca Cola has developed itself as a successful brand despite the presence of its major competitor, Pepsi. Market analysis: Market analysis of Coca Cola can efficiently describe the factors that determine the attractiveness of its market.
Customer retention involves strategies to ensure that customers of a company’s product continue using the product for a long time. This can be done through making the customer satisfied, and offering the products they want. Coca-Cola maintains its customers by maintaining a good relationship with them, and devising ways to reward faithful customers.
Coca Cola Company was established in 1886, became an international company in 1984 and doubled the number of its marketing destinations in 1960. According to Senker and Foy (2012), the expansion in business size made the company expand its product line as well through the introduction of Sprite in 1961, Tab in 1963 and Fresca in 1966.
Since its inception in 1886, the global market has been one in which Coca Cola has dominated while at the same time buying integral competitors and adding them to their total product range and offerings within given regions. As a function of this, the Coca Cola Company is represented in nearly every nation on earth and total drinks consumed per day are in excess of 1.7 billion.
The author states that in most countries, famous celebrities including film stars have been used as brand ambassadors for Coke. These endorsements have created a strong bondage between the product and its users. In most of its ads, Coke has made effective use of music and catchy jingles to promote the product to its target market.
“Culture refers to the shared assumptions, beliefs, values and norms, actions as well as artifacts and language patterns.” It is knowledge that is acquired through time by company workers that in turn form the modus operandi or way
The markets attending the 2012 London Olympics will be domestic citizens and international citizens of varying demographics and lifestyles. This concept of creating global harmony through Coca-Cola products will be a proper fit for a theme involving ecology and green business as well as diversity found prevalent at the Games.
The writer thinks that Coca Cola has to identify the products whose demand will be the maximum at the time of Olympics. It also needs to maintain continuous flow of raw material supply for the production unit. If the company can handle such pressure, it can surely expect to increase their profits in London Olympic of 2012.
It is the world’s leading soft drinks manufacturing company which operates its business in more than 200 countries of the world. For more than a century the company continues through depression, prosperity,
Such innovative and new marketing strategies have made the advertising segment hugely competitive. However, amidst such marketing strategies at times firms develop advertisements which viewers finds harmful as they tend to propagate the wrong ideas. Two of such
10 pages (2500 words)Essay
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