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Focus of the Marketing mix - Essay Example
Author : kcartwright
Pages 7 (1757 words)
Marketing Mix- Coca Cola Customer inserts his/her name Institution’s name Introduction Coca Cola boosts of having the highest brand equity in the world. According to surveys, one of the most recognized words in the world is “Coca Cola”. The product Coca Cola continues to dominate the carbonated drinks market despite sturdy headwinds and is well ahead of its competitor Pepsi…
The Coke beverage has, therefore, been targeted at every household to the extent that it should be within an arm’s reach. Although the product appeals to the mass market, the product’s primary target group is individuals aged between 10-25 years and secondary target group is those between 25-40 years of age. Coca Cola’s brand essence is happiness, energy, emotions and getting together. The core product is the strong taste of Coca Cola, whereas, the augmented product is the brand experience that has been attached to the consumption of Coke. Using Maslow’s social hierarchy, the product has been positioned to cater to customers’ need of belonging and being loved. The brand has been associated with being trendy and evoking a positive lifestyle along with being associated as young, enthusiastic, sunny and innovative. Furthermore, the use of somatic markers in the branding of Coke is visible since people readily identify the Coca Cola drink with “red” although its color is brown (The Coca Cola Company, 2012). The product in this case is, therefore, not limited to the invigorating taste and texture of the drink but includes the powerful brand persona of Coke. Price As far as the pricing of Coke is concerned, it has been priced in line with that of its competitors, mainly Pepsi. ...