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The Concept and Process of Marketing (Coca-Cola case) - Essay Example
One major limitation is the sales concept where companies are just trying to make sales and can end up compromising the quality of their products. Companies should use societal concept where they put more emphasis on caring for the society’s wellbeing. …
For instance, Coca-Cola has in the past used their bottles to conduct a lottery, whereby a faithful customer who manages to collect specific winning bottle tops gets the reward.
2.37 Consumer profitability.
Companies undergo various costs in the process of advertising, consumer relations, and in the process of trying to increase their sales. Consumer profitability is the difference between the revenue that a company gets customers, and the cost they incur to get those customers (Raaij and Eric 2002, p 1). Coca- Cola Company should do the cost benefit analysis, in order to ensure that revenue incurred in the customer relation process is more than the costs incurred, and that such difference is significant.
2.38 Narrow marketing focus
Narrow marketing involves a product with fluctuating prices in the market, which is usually as a result of change in demand or supply. A narrow marketing strategy involves a company not putting efforts to win new customers. The cost of narrow marketing focus is low sales, fluctuation in product demand. Coca–Cola Company can avoid this pitfall through adopting strategies to get new customers and using good customer relations to retain existing customers. ...