International Marketing Management On Coca-Cola

Literature Review

Marketing Management Concept

According to Cox and Yang (2007), marketing management is considered an organizational discipline that allows to promotion of products and services appropriately. In addition to this, it can be said that the management of Coca-Cola can have effective application of diverse tactics for sustainable development. Classification of marketing management tactics can be as marketing orientation, techniques, and methods that improve brand loyalty. Dibb and Carrigan (2013) have stated that with the assistance of marketing management, the company can have an effective allocation of activities. By application of marketing management, the scope of the organization within the sector can be advanced effectively. It allows the advancement of the customer base and makes sure that goals and objectives can be accomplished effectively.

We Promise Exceptional Assignment Writing & No AI Shortcuts !

Order Now View Samples Assignment help

Marketing Mix

Fifield, (2012) has asserted that marketing mix is a combination of factors that are allowed to design strategies in a manner to attract customers. In this, CCoca-Colamainly focuses on the marketing mix elements such as product, price, place, and promotion. It has been noticed that the application of the marketing mix element is significant because it allows one to meet long-term objectives. Kotler and Armstrong (2009) have said that products must be developed according to customer needs so that better satisfaction can be offered to thereto meet objectives. Pricing also needs to be designed as per economic values. If economic values and customer expectations are not considered then vital issues might be faced by Coca-Cola Along with this, the place is a factor that decides the distribution of products and services. It is significant to have a selection of tools properly so that better convenience can be offered to customers. Moreover, promotion is also a critical element of the marketing mix which boosts the success opportunities. By having an effective selection of advertising and promotional methods the business firm can easily attract more and more customers. In addition to this, it can be said that the application of the marketing mix provides support to marketing activities and leads business firms to an impressive level of success.

To get more details about online assignments help connect with us

Marketing Plan

To support the marketing analysis as well as introduce the new product within the beverage industry, the organization must focus on creating an effective marketing plan. As per the view of Hair, Bush, and Ortinau (2003) marketing plan plays a significant role within the business that supports integrating the activities of the business so that they can easily make aware customers regarding the products that they are offering. The marketing plan mainly focuses on assessing the different stages such as situational analysis of the industry and reviewing the current beverage products that are offered by the range of companies. Another step within the marketing plan includes assessing and reviewing the needs of customers who prefer dietary and caffeine Coke to the customers as nowadays customers are more conscious of their health which leads to in-take dietary Coke and beverage products.

According to Pelton, Strutton, and Lumpkin (2002), another step in the marketing plan is reviewing the product offering that supports the organization in differentiating its services from the rival companies. It would also focus on highlighting the key strengths and weaknesses of the organization along with assessing the opportunities and threats that are commonly faced by the beverage organization in the environment. Therefore, this supports the organization in dealing with the weaknesses and threats existing in the environment. On the other hand, Ramaswamy and Namakumari (2002) have also stated that engaging in the marketing plan also sometimes results in creating unrealistic financial projections and anticipation that lead to a loss for the organization. In addition to this, the marketing plan also focuses on assessing the pricing of their products that as Glacéau Vitamin-water so that it supports the customers in opting for their products and Coke products from the rival companies.

Product Life Cycle

In the marketing terms product life cycle is an effective marketing tool and theory that is implemented in practice to know the success of the beverage products in the market. As per the view of Dibb and Carrigan (2013) product life cycle model clearly states that successful product and services lose their market with the sudden change in the demand and preferences of the customers or with the introduction of products in the beverage industry. The foremost effectiveness of the product life cycle is that it is considered a proactive approach in which the management focuses on engaging in effective services with the declining of their different products (Kraus, Harms,, and Fink, 2010). For instance, thethe managementt of an organization reviews that their sales are constantly declining therefore, to grow their sales of services company must focus on using higher promotional strategies that would result in promoting their new vitamin water products in the market.

On the contrary, Fifield (2012) has also stated that this model is ineffective when they are handling brands as they are not products that do not have a life cycle. Therefore, the products that are offered by the brand would be affected by the change in market demand and supply. Along with this, it has been also assessed that marketers' competitors or with the help of using this model would also use similar strategies and plans of action so that they may also reach the desired stage in the cycle. Along with this, it has been also assessed that the help of the product life cycle model, also assists the companies in engaging in the planning process so that the company may easily accomplish their marketing activities (Kotler, 2011). Hence, it is advantageous for businesses to draw in more customers and supply them low monetary value products at the time of introduction and then increase the amount of products to sustain in the beverage industry. Thus, it helps in maintaining an effective pricing strategy and thus enhances the brand image in the market.

Application of Theory to Practice

It can be stated that Coca-Cola introduced Glaceau Vitaminwater into India to influence Indian customers towards the firm. Thus, it increases the sales and profitability of the firm in the market (Bunnell, 2005). There are different theories and practices within the business to implement the same-

Marketing Management

It can be stated that Coca-Cola aims to undertake effective marketing management tools and thus implement the same to inform consumers regarding different products available within the firm to enhance sales and profitability of the firm in the market. Thus, the business aims to target Indian customers by promoting its new range of Glaceau Vitaminwater and thus provide nutrient water beverages to potential clients (Foroud and et. al., 2010). For this, the business aims to use social media advertising and hoardings iaboutattain the desired performance in the market. Introducing such vitamin water helps in growing the business performance in the market and thus attaining the desired results. Marketing is considered an effective concept that helps in influencing business performance and results in improving success and profit margin. Carrying out a survey helps in assessing that Indian customers are attracted to such type of product and helps in influencing the sales of the firm. Management of Coca-Cola identifies such techniques and uses effective promotional toolsregardingo promoting the product in the Indian market (Geunes and et. al., 2011). For this, different promotional activities such as advertising on television, social media, and hoarding are the most suitable and it leads firms to introduce cited products in a developing country which as India. Hence, using different marketing concepts helps the firm to improve its business decision-making. Expanding the business functions helps in enhancing the market share and growth of the firm.

Also, you can get our online coursework help to excel in your academics and achieve your future goals effortlessly.

Marketing Mix

According to the viewpoint of Gubb (2010), it can be stated that it involves the 4 P's of marketing mix which helps in expanding the business performance in the market. The firm needs to undertake effective approaches so that the business can enhance its market share and profitability ratio. Therefore, Coca-Cola needs to introduce the Glaceau Vitaminwater product range. It is available in varied variants and thus attracts consumers to the firm (Gubb, 2010). Providing such products helps in influencing consumers and profit margin can be enhanced. Following is the marketing mix of Coca Cola which is as follows-

Product

Coca-Cola aims to introduce a new product range in the market to attract potential customers. Therefore, it helps the firm to expand its business operations so that the performance of the firm can be enhanced. Further, enterprises need to focus on Vitaminwater products and attract consumers towards is the easiest way through which profit can be enhanced. The appropriate plan needs to be developed which helps in increasing business performance in the market and thus raises its efficiency (Helman, 2010).

Price

It is another crucial concept that needs to be undertaken by Coca-Cola management so that it enhances the sales of the firm in the market. However, the business is selling its products in the Indian market which is still a developing country therefore it needs to adopt a penetration pricing strategy (Jahdi and Acikdilli, 2009). Hence, it is beneficial for a firm to attract customers and provide them with low prices at the time of launching and then gradually increase the amount. Thus, it helps in maintaining an effective pricing strategy and thus enhances the brand image in the market.

Place

For launching a new product Coca Cola selects the Indian market and thus enhances the sales of the firm. The firm needs to identify the appropriate place where the product can be introduced and attract a wide range of consumers so that the sales and profitability of the firm can be enhanced (Kotler, 2011).

Promotion

Further, to promote the cited firm's product helps firm uses social media, television advertising, and hoardings so that a large number of Indian customers can be attracted. It is the best way through which a business can enhance its sales and market share (Kraus, Harms, and Fink, 2010).

Role of Marketing Models

ICompany needs to adopt effective marketing models for promoting the product in the Indian market. Coca-Cola management prepares an effective marketing plan to promote the product Glaceau Vitaminwater in the Indian market. It is significant for a firm to develop such products in the market and attain the desired results. To improve business performance it is effective for a firm to undertake marketing tools so that success can be attained (Bunnell, 2005).

Conclusion

It can be concluded from the study that Coca-Cola aims to prepare an effective marketing plan and thus introduce Glaceau Vitamin water in the Indian market thus attracting potential customers to the firm. For this, the business introduces its product to the Indian market and enhances the market share of the firm. It helps in enhancing the profitability of the firm in the market so that desired results can be attained. It is significant for a business to undertake an effective marketing strategy so that Coca-Cola can enhance its operations in the international market and thus expand the business product into the market.

It can be recommended to a firm that the business should focus on adopting an effective pricing strategy to enhance business performance. Also, launching such a product should benefit consumers so that they prefer to consume it more as compared to other rivals.

Some More Samples on International Marketing written by our Experts-

• International & Global Marketing
• Competitive Analysis & Marketing Theories of Prada
• International Marketing Management on Generator Hostels
• International Marketing Strategies on King Su Technologies

References

• Bunnell, T., 2005. Strategic marketing planning in international schools.International Journal of Educational Management.
• Cox, A. and Yang, T., 2007. The proactive alignment of sourcing with marketing and branding strategies: a food service case. Supply Chain Management: An International Journal.
• Dibb, S. and Carrigan, M., 2013. Social marketing transformed: Kotler, Polonsky, and Hastings reflect on social marketing in a period of social change. European Journal of Marketing.
• Fifield, P., 2012. Marketing Strategy. 3rd Routledge.
• Foroud, A. and et. al., 2010. A multi-objective framework for dynamic transmission expansion planning in a competitive electricity market. International Journal of Electrical Power & Energy Systems.
• Geunes, J. and et. al., 2011. Approximation algorithms for supply chain planning and logistics problems with market choice. Mathematical programming.
• Gubb, J., 2010. Will a market deliver quality and efficiency in health care better than central planning ever could? Yes. BMJ.
• Hair, J. F., Bush, R. P. and Ortinau, D. J., 2003. Marketing research: Within a changing information environment. Richard D Irwin.
• Helman, U., 2010. Resource and transmission planning to achieve a 33% RPS in California-ISO modeling tools and planning framework. In FERC Technical Conference on Planning Models and Software.
• Jahdi, K. S. and Acikdilli, G., 2009. Marketing communications and corporate social responsibility (CSR): marriage of convenience or shotgun wedding? Journal of Business Ethics.
• Kotler, P. and Armstrong, G., 2009. Principles of Marketing 11th Edition. New York: McGraw-Hill Publishing.
• Kotler, P., 2009. Marketing management. Pearson Education.
• Kotler, P., 2011. Reinventing marketing to manage the environmental imperative. Journal of Marketing.
• Kraus, S., Harms, R. and Fink, M., 2010. Entrepreneurial marketing: moving beyond marketing in new ventures. International Journal of Entrepreneurship and Innovation Management.
• Pelton, L. E., Strutton, D. and Lumpkin, J. R., 2002. Marketing channels: a relationship management approach. McGraw-Hill College.
• Ramaswamy, V. S. and Namakumari, S., 2002. Marketing Management: Planning, Implementation & Control: Global Perspective Indian Context. Macmillan.

UPTO55%

Avail The Benefit Today!

To View this & another 50000+ free

Enter Email

Submit