Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring (Kroger Company)

Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring (Coca Cola Company)

New Target Markets

The target market for the Coca Cola company is mainly from the age of 10-35 years. The company's products are consumed mostly by the middle-aged group, which is the brand's consumer segment is primarily the youths and teenagers. The products produced are famous for both genders. Coca-Cola company does not have particular targets for consumers due to the low prices of products. However, the main targets are the young generation, modern and the youth who love fun. The youths mainly consume soft drinks; this has built a substantial target market foundation for the company. The company is in a position to represent youth, joy, and freedom. The targets of the company are both the consumers and the families. Therefore, the adverts are mainly aimed at the youth and the families representing the various celebrations and parties performed (Pride, 2004).

Marketing Mix

Product

Coca-Cola comprises an extensive collection of 500 carbonated and still, a brand, provides approximately 3900 drinks of their own choice and is the most valuable and acknowledged brand globally. The Coca-Cola Company brands include; Coca-Cola -which is the famous soft drink and recognized brand. Fanta- which contains orange flavor. Coca Cola Zero-which has zero sugar. Other products include; Sprite, Diet Coke, Simply Orange, Powerade, Coca Cola life, and Powerade zero are some of the company's favorite products. These products are in different sizes of bottle whereby the consumer can prefer. Besides, the company contains 19 billion-dollar brands that have less or no-calorie options (Arab, 2018).

Price

Coca Cola company has competition from Pepsi in terms of soft drinks production. The two brands price their products effectively. The prices are affordable by the consumers meaning the prices are not high or low. The strategy from Coca-Cola pricing is concerning with enhancing the loyalty of the company. The drinks' low demand has led to great competition between the two companies, Pepsi and Coca Cola. The increase in the size of the packages leads to the low cost of the products. This means that if the customer decides to buy many products, the prices are lower and those who buy single products are high.

Distribution

The company has the most extensive system of distribution. The products of the company are sold globally. The revenue collection of the company is approximately 1.9 billion daily. The company relies on partners responsible for bottling for the process of packaging and distribution. The company's system of distribution is mainly based on local channels. The company manufactures and markets products, drinks bases, and syrups for bottling and is responsible for marketing and controlling the brand. The manufacturers of bottles package the products and distribute the drinks to the customers and vendors, who then sell them to consumers. Therefore, the bottle manufacturers work with various customers such as restaurants, vendors, and groceries who sell the products to the final users (Arab, 2018).

Promotion

Coca Cola company faces stiff competition from Pepsi; therefore, the company ensures that more advertising should be done, which is costly, to increase its revenue collection through high sales. The expenditure on advertising increase yearly. The company utilizes both traditional and modern approaches to promote their products. The company came up with a campaign to taste the feeling which unites various brands. This strategy was one of the most incredible moves made by the company. The company performs multiple promotional campaigns through ads on Television, the internet, and social media platforms, increasing customer engagement, and increasing customer connection through followers and spectators. An online promotion strategy like YouTube, where there are approximately 3,600 videos, increases sales. The increase in the soda industry competition has made the Companies focus on their social image and reputation. Coca-Cola is ensuring it is socially responsible, sustainable, and providing a reasonable distribution and production channel of its products, reinforcing the idea in the market.

Marketing Implementation

Coca-Cola company has its main objectives: to increase profit earning and maximize growth, which will create value for the shareholders. To achieve these goals, the company should ensure; (1) changing the ways of doing the company's business and its primary focus on the potential of the customer's value and applying a segmentation approach to increase its value potential. (2) implement the segmentation plans where the company's marketing activities are based on the target market, which is distinct due to the extreme competition, the levels of consumption, and socio-economic situations. (3) implementing the best packaging methods, quality products, and reasonable prices strategies through various distribution methods. (4) enhancing the innovation processes in their products alongside multiple types of products. (5) ensuring efficiency in the company by maximizing various commercial models as well as strategies (Pride, 2004).

Marketing communication channels

Strategic Actions

Monitoring

References

Arab, N. (2018). Relationship between Brand Equity and 4Ps of Marketing Mix-Place, Product, Promotion, & Price: Coca-Cola-Consumer Based Qualitative Survey.

Chaffey, D., Ellis-Chadwick, F., Mayer, R., & Johnston, K. (2009). Internet marketing: strategy, implementation, and practice. Pearson Education.