Part 1
COCA-COLA COMPANY
Coca-Cola is a soft drink that is bought and consumed in households, hotels, offices and shops. The product is also a wide brand and the product is sold alongside other soft drinks and snacks.
MISSION STATEMENT: “To refresh the world in mind, body and spirit, to inspire moments of optimism and happiness through our brands and actions and to create value and make difference.”
GOALS
to satisfy customer needs
to be the leader in production of soft drinks
to improve profitability
to increase the market share
to expand geographically
COMPETITIVE ADVANTAGE
The has been continuous innovation and this has seen new products being introduced into the market. The use of advertising helps in promotion of the brand and informing consumers about the features of the product. This leads to increased sales because of increase in number of customers.
SWOT ANALYSIS
STRENGTHS
Coca-Cola is a product that is sold in more than 200 countries across the world. The presence of coca cola has therefore built the drink a brand name, therefore brand equity is Coca-Cola’s strength. “Interbrand in 2011 awarded Coca cola with the highest brand equity award.” with the highest brand equity.” (Marketing91.com, 2014) . The product therefore has a large distribution network because of geographical dispersion. This has increased the market share of the product against that of its competitor, Pepsi. The product is also sold alongside other soft drinks. Customers are loyal to the product. “Because of the good taste of Coca cola, finding substitutes becomes difficult for the customer.” (Marketing91.com, 2014)
WEAKNESSSES
The product has been in the news for not being a healthy product for consumption. Coca-Cola, being a carbonated drink has been attributed to causing obesity. This means that the consumption of the drink may decline as people strive to take healthy drinks that are noncarbonated.
There have been increased lawsuits that have been filed against Coca-Cola show that the company consumes large amounts of water even in water scarce regions. There has been blame that they mix water with pesticides to clear contaminants.
OPPORTUNITIES
The supply chain throughout the Coca-Cola product is improved. This means that the company will be able to reach a wide number of customers and at reduced costs. Developing countries will also continue to buy Coca-Cola products because the countries are moving slowly towards healthy beverages. This higher consumption in developing countries can help capitalize Coca-Cola.
THREATS
There are indirect competitors in the industry such as Starbucks, Café coffee day, Costa coffee who sell coffee which is healthier than carbonated Coca-Cola. Coca-Cola also faces the threat of shortage of water. This is because the main raw material in its manufacture is water, and there have been law suits against the company to the way in which they use water.
References
Rothaermel, F. T. (2015). Strategic management. McGraw-Hill.
Marketing91.com,. (2014). SWOT of Coca Cola – SWOT analysis of Coca cola. Retrieved 25 February 2016, from http://www.marketing91.com/swot-coca-cola/
(2016). Retrieved 25 February 2016, from http://Coca-cola’s mission
Part 2
Marketing Plan Part 2
This is the next step in creating your marketing plan. Please follow the directions in Week One and reference the marketing plan outline in Appendix A of your text.
Describe your target market.
Identify the consumers who are most likely to buy your product in terms of: (a) their demographic characteristics and (b) any other kind of characteristics you believe are important.
Describe (a) the main points of difference of your product for this group and (b) what problem these characteristics help solve for the consumer, in terms of the first stage in the consumer purchase decision making process in Figure 6.2 (page 190).
This section of your marketing plan should be one page. Perform and cite outside research on all individual work.
Figure 6.2 shows the six steps in the consumer decision process. First, the consumer recognizes a problem or unmet need, searches for appropriate goods or services, and evaluates the alternatives before making a purchase decision. The next step is the actual purchase. After buying the item, the consumer evaluates whether he or she made the right choice. Much of marketing involves steering consumers through the decision process in the direction of a specific product. FIGURE 6.2: Integrated Model of the Consumer Decision Process Source: Roger Blackwell, Paul W. Miniard, and James F. Engel, Consumer Behavior, 10th ed. (Mason, OH: South-Western, 2006).
APPENDIX A: Developing an Effective MARKETING PLAN OVERVIEW > “What are our mission and goals?” > “Who are our customers?” > “What types of products do we offer?” > “How can we provide superior customer service?” These are some of the questions addressed by a marketing plan—a detailed description of the resources and actions needed to achieve stated marketing objectives. Chapter 2 discussed strategic planning—the process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives. Marketing planning encompasses all the activities devoted to achieving marketing objectives, establishing a basis for designing a marketing strategy. This appendix deals in depth with the formal marketing plan, which is part of an organization’s overall business plan. At the end of this appendix, you’ll see what an actual marketing plan looks like. Each plan component for a hypothetical firm called Blue Sky Clothing is presented. marketing plan Detailed description of the resources and actions needed to achieve stated marketing objectives. strategic planning Process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives. COMPONENTS OF A BUSINESS PLAN A company’s business plan is one of its most important documents. The business plan puts in writing what all of the company’s objectives are, how they will be met, how the business will obtain financing, and how much money the company expects to earn over a specified time period. Although business plans vary in length and format, most contain at least some form of the following components: • An executive summary briefly answers the who, what, when, where, how, and why questions for the plan. Although the summary appears early in the plan, it typically is written last, after the firm’s executives have worked out the details of all the other sections. • A competitive analysis section focuses on the environment in which the marketing plan is to be implemented. Although this section is more closely associated with the comprehensive business plan, factors specifically influencing marketing are likely to be included here. • The mission statement summarizes the organization’s purpose, vision, and overall goals. This statement provides the foundation on which further planning is based. • The overall business plan includes a series of component plans that present goals and strategies for each functional area of the enterprise. They typically include the following: ○ The marketing plan, which describes strategies for informing potential customers about the goods and services offered by the firm as well as strategies for developing long-term relationships. At the end of this appendix, a sample marketing plan for Blue Sky Clothing is presented. ○ The financing plan, which presents a realistic approach for securing needed funds and managing debt and cash flows. ○ The production plan, which describes how the organization will develop its products in the most efficient, cost-effective manner possible. ○ The facilities plan, which describes the physical environment and equipment required to implement the production plan. ○ The human resources plan, which estimates the firm’s employment needs and the skills necessary to achieve organizational goals, including a comparison of current employees with the needs of the firm, and which establishes processes for securing adequately trained personnel if a gap exists between current employee skills and future needs. business plan Formal document that outlines what a company’s objectives are, how they will be met, how the business will obtain financing, and how much money the company expects to earn. “BRIEFLY SPEAKING” “A corporation is a living organism; it has to continue to shed its skin. Methods have to change. Focus has to change. Values have to change. The sum total of those changes is transformation.” —Andy Grove Co-founder and former CEO, Intel Corporation This basic format encompasses the planning process used by nearly every successful organization. Whether a company operates in the manufacturing, wholesaling, retailing, or service sector—or a combination—the components described here are likely to appear in its overall business plan. Regardless of the size or longevity of a company, a business plan is an essential tool for a firm’s owners because it helps them focus on the key elements of their business. Even small firms just starting out need a business plan to obtain financing.
need a 1 or 2 page paper for part 2
