Therefore the Coca-Cola Company products can be considered a business product.The Coca-Cola Company has a fairly large product mix which contains about 400 brands, including diet and light beverages, waters, juice and juice drinks, teas, coffees, energy, and sports drinks (Coca-Cola Datamonitor, 2007).Tags: Essay On Obesity In AmericaEngineering Technician Cover Letter6. Bund Essay WettbewerbApproaches To Literary Criticism EssayWriting Thesis Statement Definition EssayBoo Radley Courage EssaysEvaluation Of The Weber ThesisFrankenstein Nature ThesisLiterature Review On Child AbuseHow To Start My Own Wedding Planning Business
The promotions role in the marketing mix is to “bring about mutually satisfying exchanges with target markets by informing, educating, persuading, and reminding them of the benefits of an organizations product” (Hair, Lamb, & Mc Daniel, 2006, p. Since the Coca-Cola Company operates on a global scale, their promotional strategy needs to consider the external environment in which their products are.
These external environmental factors include culture, economic and technological development, political structure, demographic makeup and natural resources (Hair, Lamb, & Mc Daniel, 2006, p. For example, the Coca-Cola Company promoted its new Coke Zero in Australia differently than it did in the United States because of the different external environmental factors associated with that segment (Alarcon, 2007).
The Coca-Cola Company has increased its product mix by product line extensions as well as creating new products.
The Coca-Cola Company has extended its product line by introducing a variety of drinks (“Will New Cokes”, 2006).
They also launched Minute Maid juice in India as well as China and Korea (“Marketing: New products”, 2007).
Their innovation and introduction of new products as well as their “winning culture” has helped them begin to grow again worldwide.Place/Distribution: Another crucial part of the marketing mix is place and distribution of an organizations product. retailers and distributors) instead of directly selling to distribute its products worldwide (Coca-Cola Datamonitor, 2007).Place and distribution strategies are “concerned with making products available when and where customers want them” (Hair, Lamb, & Mc Daniel, 2006, p. The Coca-Cola Company states in its mission statement that it wants to offer its products to all consumers globally (Coca-Cola Company, 2006). The Coca-Cola Company also uses intensive distribution strategies to make sure their products can be available everywhere.Ultimately, the main goal of the Coca-Cola Company’s is to satisfy a consumer’s personal want, which is the definition of consumer products (Hair, Lamb, & Mc Daniel, 2006, p. The type of consumer product the Coca-Cola Company creates is convenience product.Convenience products normally require a wide distribution in order to sell sufficient quantities to meet profit goals (Hair, Lamb, & Mc Daniel, 2006, p. In addition, the Coca-Cola Company often pays a certain amount to retail stores to resell their product.In addition, the Coca-Cola Company often has to adapt its advertisements in different cultures.For example, an ad in Singapore portraying teenagers careening down a store aisle on a grocery cart was perceived as too rebellious (Hair, Lamb, & Mc Daniel, 2006, p. The ultimate goal of any promotion is to get someone to by a good or service.However, the retail outlets use a variety of pricing methods and strategies when selling Coca-Cola products (Coca-Cola Datamonitor, 2007).There is often competition pricing of the Coca-Cola products and prices are set around the same level as its competitors.One low profile type of retailing that the Coca-Cola Company does to increase its distribution of its product is the use of automatic vending machines.These can be found in a number of places, such as schools and concert venues (Hair, Lamb, & Mc Daniel, 2006, p. Since their product is a convenience product, it requires a wide distribution in order to meet profit goals (Hair, Lamb, & Mc Daniel, 2006, p. Recently the Coca-Cola Company has focused more on their global strategy to help them increase their growth.