Once company officers are mutually convinced about the benefits of a marketing audit, both parties have to work together to decide on the coverage, objectives, depth, report format, data sources and the time taken to do the audit. In the case of Pepsi Cola Company, first of all the global market share needs to be determined. The pricing system in this case is determined by the local Pepsi Cola bottlers. Moreover the company also maintain standards for evaluating the quality of the product. However, in order to compete with Coca Cola they have to first strategize ways and means to improve sales, performance measurement of the product, type and level of compensation and finally the addition of new sales personnel. b) Collecting data – The second step consists in collecting relevant data. Here, Pepsi Cola has to find data regarding the volume of sales generated by its rival company in order to plan the means to improve sales activities. The auditor and the firm’s officers need to collect private and published data on the industry. Also suppliers need to be contacted who in turn can contact wholesalers in order to furnish additional market data. One of the main responsibilities of auditors is to suggest plausible ways to improve the marketing consensus. c) Report preparation and presentation – The marketing auditor prepares notes for verbal and visual presentation depending on the data collected. The initial presentation consists in showing the main findings from the data, reiterating the objectives of the marketing audit and accordingly present possible suggestions and recommendations. Then the final report is presented which is evaluated and debated by the company’s officers. 1.2 Apply environmental and technical auditing techniques in a given situation. The process to find out whether the practises and operations conducted in an organization are in compliance with the regulatory requirements is environmental auditing. A technical audit is an objective and systematic examination which strives to assess whether the environmental data collection process comply with the project plan. It also finds out whether the processes predefined by the project plan is effectively implemented and whether these are enough to meet the quality goals of the project. (EPA, 2000). In the Pepsi Cola company extreme care is taken that the operations conducted are in compliance with the regulatory requirements. In order to provide excellent quality attention is given to details like packaging, advertising and marketing the product. Also the bottling and manufacturing process follows quality control processes and each Pepsi Cola bottle undergoes testing and inspection. The company follows mechanisms which prevent any foreign body from entering the bottles. Moreover such containers are thoroughly rinsed and cleaned and then quickly filled through a high speed devise. Examine the main barriers to marketing planning. 2.1 Identify the main barriers to marketing planning. The preparation and implementation of a marketing plan may face ten main barriers. These are as follows: a) A confusion which may result between strategy and the marketing tactics. b) Sometimes the market plan may lead to the isolation of the marketing function from that of operations. c) There may be confusion between the concept of marketing and the functions of marketing. d) Organisational hindrances e) Inadequate in – depth analysis may be a major hindrance to marketing strategies and plans f) There may be con
Pest analysis for Pepsi Cola Compile marketing audits: 1.1 Appraise the processes and techniques used for auditing the marketing environments. A marketing audit consists in covering a firm’s marketing goals, environment, system, strategies and organization…
The company is listed on the New York Stock Exchange, and stands as one of the largest beverage manufacturers in the world, producing and selling a number of branded drinks. The extensive distribution services of the company have the potential to serve 200 countries.
Marketing audit undergoes three main processes. These are as follows: a) Setting the scope and objective – first, an auditor in collaboration with the company’s officers has to assess the nature of marketing operations and determine the value of the marketing audit.
The report also analyses different news that are related to interest rates, politics, industry, companies and international news and how these news impact the firms. Investment concepts are used to analyze which of the company is a better investment option.
PepsiCo Inc. is an American multinational company which makes food and beverages. It is headquartered in Purchase, New York, United States. It was first developed as Pepsi in 1880s by a pharmacist and industrialist based in New Bern, North Carolina named Caleb Brandham.
The other thing is that the company has been able to launch new products which have equally performed well in both local and international market. For instance, its bottled water product is the proof of this. In terms of revenue collection, the bottled water market in the U.S.
So analysis of the situations is quite important in greater functioning of the firm. This is can be supplemented with idea of profitability of the business venture. To understand the functioning of the firm with respect to market trends and analysis, industry analysis is very important and critical.
Multinational corporations are, arguably, the purveyors of globalisation, its initiators and primary beneficiaries. Insofar as it has facilitated the movement of goods and services across national borders and removed much of the barriers to foreign direct investment, globalisation has allowed corporations the opportunity to internationalise.
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 company produces more than 500 brands of beverage, mainly sparking beverages. In its product items there are also many ranges of still beverages products, such as enhanced water, juice drinks and juices, variety of ready-to-drink coffee and tea
The company management should diversify the product range and target the high net worth customers as there is threat from the new companies which offer fashionable products and their target customers are high end customers.
The researcher has
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