1. 0. Introduction Coca Cola Limited is one of the leading soft drinks companies which are operating around the world. The company was started in 1886 and is running successfully for 125 years. Bell (2003) claimed that people in nearly 200 countries drink more than one billion eight-ounce (237 ml) servings of Coca-Cola products every day. So, Coca Cola can be said as the favorite brand of the consumers. It has offered various types of products for the customers like Coca-Cola, Diet Coke, Coke Zero,Sprite, Fanta, Relentless etc.
to satisfy its customer.
Coca Cola Limited wants to be part of customer’s fun, entertainment, happiness and sharing. For that reason, the company mainly focuses on the happiness of the customers and they started some campaign related to happiness. Coca Cola limited uses integrated marketing communication for maintaining relationships with the customers. Within this report, researchers will find out the marketing communication strategies, objectives, theories, and others marketing communication factors related to Coca-Cola Company. Finally, the readers will get clear idea about the marketing communication strategies of this company.
2. 0. Marketing Communication Marketing communication means all the activities related to maintaining relationship with the customers. Marketing communication is necessary to build brand awareness and to remind the customers about the brand. Marketing communication strategy is important because it sets direction, provides consistency, and helps to focus on the target market. However, communication strategy has negative impact if the strategy is set narrowly. The future is not predictable, so it may face some problems. 2. 1. Contextual analysis It is primary steps of marketing communication strategy.
Contextual analysis considers the business situation in the market. The following things should be kept in mind at the time of contextual analysis. 2. 1. 1. Market Analysis In the UK, the oval soft drinks market faced poor growth as a result of rising raw material and energy cost. The amount of soft drinks consumption has decreased about 2. 5% from 2011. Most importantly, the consumption of carbonated drinks has decreased about 2. 4% but it was the largest soft drink sector in UK. Coco Cola has come together with craft as bottling partners has sold 3.
3 billion unit cases, added $30 to market capitalization and served 200 million in last 3 years. The observation of the market helps the company to decide on the marketing communication goals, can collect information about the customers, can know the demand of customers, and can choose media to communicate with the customers. Context analysis helps to decide on the plan and strategies of the company. 2. 1. 2. Consumer Analysis Consumers of UK like carbonates drink more than others drinks. It has seen that per person consumed about 226. 8 liters soft drinks in 2012.
Consumers consumed 45% carbonates, 22% dilutables, 15% bottled water, 8% fruit juice, and 10% still and juice drinks. So Coca Cola has a good chance to capture the market with carbonated drinks. 2. 1. 3. Competitors Analysis The main competitors of Coca Cola Limited company are Dr Pepper Snapple Group, Nestl, Pepsico, Industry=Beverages- soft drinks. The statistics of competition are given below: Direct Competitor Comparison KO DPS NSRGY PEP Industry Market Cap: 175. 89B 9. 67B 230. 59B 125. 60B 129. 47B Employees: 150,900 19,000 339,000 278,000 278. 00K Qtrly Rev Growth (yoy):
-0. 03 0. 01 0. 05 0. 02 0. 14 Revenue (ttm): 47. 27B 6. 02B 101. 39B 66. 25B 66. 25B Gross Margin (ttm): 0. 60 0. 58 0. 48 0. 53 0. 53 EBITDA (ttm): 13. 06B 1. 28B 19. 21B 12. 13B 12. 13B Operating Margin (ttm): 0. 23 0. 18 0. 16 0. 15 0. 17 Net Income (ttm): 8. 74B 638. 00M 11. 56B 6. 65B N/A EPS (ttm): 1. 93 3. 09 3. 62 4. 26 4. 26 P/E (ttm): 20. 65 15. 59 19. 91 19. 23 24. 72 PEG (5 yr expected): 2. 61 1. 99 4. 90 2. 37 2. 73 P/S (ttm): 3. 77 1. 61 2. 26 1. 90 2. 05 Here, KO= Coca Cola Company DPS= Dr Pepper Snapple Group, Inc. NSRGY= Nestl PEP= Pepsico, Inc.
Industry= Beverages- Soft Drinks (Source: http://finance. yahoo. com/q/co? s=KO+Competitors) 2. 1. 4. PESTLE analysis PESTLE analysis means analyzing the political, economic, sociological, technological, legal, and environmental situation for a company. Coca Cola limited faces some political instability in many countries. The economic condition of the consumers affects the company. People from the third world countries cannot afford highly priced soft drinks. On the other hand, Coca Cola limited needs to follow the rules and regulations of the countries, where it operates. 3.
0. Importance of Setting Marketing Communication Objectives Setting communication objectives is an important task for a company. It considers all the necessary factors that are related in setting the communication process. It ensures that how the company will communicate with the customers and others. In addition, it helps to budget the company for communicating with the consumers. Coca Cola has the communication objectives to make good relationship with the customers. It wants to be the parts of daily life of the consumers in their daily happiness, fun, and entertainment. 4.
0. Marketing Communication Objectives Smith (2011) said that marketing communication objectives refer to how communication should affect the mind of the target audience, e. g. generate awareness, attitudes, interest or trail. On the other hand, Stafford (2009) described that some common marketing communication objectives include: create brand awareness for your company, defining a need the product or service can fulfill, and encouraging action from the target. Marketing communication objectives help to achieve the overall goal of a company. It helps to take decision making.
5. 0. Factors Considerate Before Making Communication Strategy Objectives The Coca Cola Limited needs to consider some factors before making the communication strategy. The following factors are most important factors. 5. 1. Media Infrastructure The media infrastructure in UK is very high than the other countries. The Coca Cola Limited can easily communicate with the customers through print and broadcast media. The use of digital media like Facebook, twitter, LinkedIn etc. are common in UK than some other countries. 5. 2. Language of Communication
Language plays an important role in setting communication strategies. Though, UK consumers use the English language. So, it has become easy for the Coca Cola limited as it can communicate with the consumers through English language. But, in many countries language varies a lot. And, this variation causes problem for the company. 5. 3. Purchase Decision Purchase decisions of the consumers have huge impact on the communication strategy. The consumers of UK generally purchase soft drinks more. So, the communication strategy of the Coca Cola Limited will be easier in UK than other countries. 5. 4.
Culture and Tradition In UK market, marketers need not to focus more on the culture and tradition. Though, in some countries in Asia and Middle East culture and tradition has huge impact on the purchase decisions. Coca Cola Limited needs not to focus more on culture and tradition for setting strategy for UK market. 6. 0. Marketing Communication Objectives of Coca Cola Limited Coca Cola limited is operating its business in about 200 countries. Dudovskiy (2012) claimed that the Coca Cola limited has 8 (eight) marketing communication objectives. They are: Creating awareness of the company and its products,
Informing and educating consumers and buyers, Encouraging a liking for the company’s products over those of the competitors of the company, Encouraging product trail or interest among potential new customers, Increasing short term sales by the means of stimulating action, Reassuring customers and reinforcing their particular desirable buying behavior, Generating information from the customers, and Creating sales lead. 6. 1. Sectors of Setting Communication Objectives Coco Cola limited started to set objectives in the following sectors. 6. 1. 1. Sales
Coca Cola limited wants to maximize its sales all over the world. It is operating in more than 200 countries. And, it offers varieties of products to customers to increase the sales. 6. 1. 2. Brand Awareness Coca Cola has become a global brand. The objective of the company is to take a position in the customer’s mind. It always uses the tools of communication to pursue the consumers about the brand. 6. 1. 3. Customer’s Loyalty Coca Cola limited wants that the customers of its product will always loyal to the brand. So, it offers various types of facilities for the loyal customers. 6. 1. 4. Customers Satisfaction
Satisfaction of the customers leads to success. For that reason, Coca Cola Limited wants to satisfy its customers with quality products and services. 6. 2. SMART objectives The specific objective of the Coca Cola Limited is to offer the quality beverage brands and to satisfy customer’s needs. The measureable objective is to achieve double revenue within 2020. The objective is achievable for the Coca Cola limited because it is effectively operating its business in over 200 countries. The objective is realistic because it has enough resources including capital and manpower to achieve the objectives.
With that, it has set its objectives based on time and considering the management of time. 7. 0. Segmentation Objectives of market of Coca Cola company Botha et al (2005) described market segmentation as a part of STP process. STP is the abbreviation of segmentation, targeting, and positioning. Market segmentation deals with an aggregated process that clusters people with similar needs into a market segment. A company segments the market depending on the demography, geography, psychographic, lifestyle, behavior, purchase pattern, economic, and political factors.
In addition, Lannuzzi (2013) claimed that market segmentation will be effective if the segments are measureable, sustainable, accessible, differentiable, and actionable. Coca Cola Limited uses the geographic and demographic segmentation of the company. On this issue, Bettybluue (2011) said that Coke Zero is the good example of demographic segmentation. In addition, the company also uses the geographic segmentation. Coca Cola limited has offered different products depending on the age, lifestyle, economy etc. of an area. 8. 0. Targeting Objectives of market of Coca Cola Company
Targeting marketing means segmenting the market into different parts and choosing the best parts according to company’s choice. Generally, company targets those markets which will ensure best return of the investment. Normally, a company target one segment of market. Then, use the specialized strategy and product to capture the market. Area of market depends on the target of the company. Coca Cola limited targets the young adults and the people of middle age. Though, it has some products for the aged people also. Furthermore, it also targets the consumers who pass busy life.
The young people who are fun and entertainment loving also get focus of the company. 9. 0. Positioning Objectives of Coca Cola Limited Positioning means getting a space in consumers mind. A company wants to get a position and expect that, a consumer will purchase its product when he/she will feel need for that type of product. Rogers (2001) defined that positioning is a process by which a marketer discovers in the mind of the consumer, customer, client, or prospect a unique niche for a product or service that will be meaningful to such a person. Coca Cola limited operates in function in more than 200 countries.
So, it is common questions that will coca cola limited use the same positioning strategy in all the countries. It wants to think global and act local. Currently, Coca Cola limited is occupying the 1st or 2nd position in market as well as in consumer mind. Its vision and mission is to be the number one brand of the world in beverage sector. Undoubtedly, Coca Cola has some strong competitors like PepsiCo, Nestle etc. Though, the competitors also have strong position in customer mind. Still, it is confident about its goal. 10. 0. Audience Strategy for Marketing Communication
Audience strategy plays an important role in the marketing communication. The elements of audience strategy for communication are given below. 10. 1. Push Strategy According to Lamb et al (2011) push strategy starts when manufacturer promotes to wholesaler then wholesalers. Wholesaler promotes to retailers, retailers promote to consumers, and consumers buy from the retailer. In push strategy, the company starts the procedure of selling the product to the customers. Coca Cola Limited sometimes uses the push strategy when it starts its operation in a new market. It is a common strategy for any company.
10. 2. Pull Strategy Lamb et al (2011) described that in pull strategy manufacturers promote to consumers, consumers demands product from retailer, retailers demand products from the wholesalers, and wholesalers demand products from the manufacturers. For Coca Cola limited, Customers demand for the special products, retailers and wholesalers inform the manufacturer, and manufacturer produce the product if they think it profitable. 10. 3. Profile Strategy Profile strategy deals with maintaining relationship with the stakeholders. The company keeps the stakeholders up to date with the products.
The Coca Cola Company uses the emails, letters, and other digital media for the profile strategy of communication. 11. 0. Platform & Configuration Strategy Through platform strategy Coca Cola limited creates its own brand. It selects its own brand idea and propagates the brand. In configuration strategy, Coca Cola limited sometimes change its campaigns depending on the market situation. 12. 0. Integrated Marketing Communication (IMC) Strategy Coca Cola Limited has designed its marketing functions depending on integrated marketing communication strategy.
“The strategic analysis, choice, implementation and control of all elements of marketing communications which efficiently, economically and effectively influence transactions between an organization and its existing and potential customers, consumers and clients (Smith et al, 1999, pp-166). The company started marketing communication (IMC) strategy from 2006. By using this strategy, the company has designed all the communication process to communicate with the customers. Through this strategy Coca Cola wants to be the part of customer’s daily life including all the happy events of the customers. 12.
1. Tools of Integrated Marketing Communications The Coca Cola used different types of integrated marketing communication tools to communicate with the customers. Some tools are analyzed below: IMC tools used by Coca Cola Limited 12. 1. 1. Advertising Coca Cola Limited uses the advertising all around the world to create and peruse the brand awareness among the customers. Petley (2003) defined that advertising is the means by which goods and services are promoted to the public to increase sales of these products or services by drawing people’s attention to them and showing them in a favorable light.
As a result, we can say advertising as a common tool used by Coca Cola limited. Furthermore, the advertisement has some roles to play. Advertisement helps the Coca Cola Limited to engage with the customers, Build Coca Cola as brand to consumer’s mind, Coca Cola can reach the consumers of all parts of world through advertisement easily, and Advertisement costs high but helps to pass maximum information from the company. 12. 1. 2. Direct Marketing Coca Cola uses the direct marketing strategy by making partnership with different types of events, restaurants, movie theaters, and shop keepers.
In addition, many shopkeepers only offer Coca Cola as soft drink. Coca Cola limited becomes the sponsor of many large international events. Meisner (2006) described that direct marketing supports the sales by using one or more of the available media to generate a quantifiable and track able response that moves the customer closer to quantifiable and track able response that moves the customer closer to an initial or additional sale without the use of a face-to-face salesperson. Different media of direct marketing are given below: Direct Mail Telemarketing Email Marketing Short Message Service Marketing Letters and handouts
Direct selling Call Centers. 12. 1. 3. Internet Marketing For internet marketing Coca Cola Limited has individual company websites for every country. Along with this, it uses different types of social media like Facebook, Twitter, Linkedin etc. for internet marketing. 12. 1. 4. Sales Promotion Yeshin (2006) has told that sales promotion; perhaps more than any other area of marketing communication (other than direct marketing) has witnessed both growth and changing over recent years. For that reason, Coca Cola has to adopt the strategy. It has two types of sales promotion strategies to make it different from competitors.
It used eye catching design, packages, and keep in front of customers’ eyes to attract the customers. Along with these, it helps the wholesalers and retailers by offering discounts, free goods and advices. Garyasanchez claimed that there are 9 benefits of sales promotion for a company. The benefits are: creates differentiation, creates new content and communication opportunities, creates upsell and cross sell opportunities, drives customer decision making, creates word of mouth opportunities, creates training opportunities for your staffs, creates company focus on marketing, creates testing opportunities, and grows revenue.
12. 1. 5. Public Relations James (2006) described that public relations work centers on managing communication and public perception about organizations, people, products or specific issues. Public relations have some features that are important for the company. In addition, public relations can be done through interviews, lobbying, sponsorship, and different types of conferences. Generally, the cost of public relationship is less than other tools. Additionally, it helps to give the specific information to the consumers. Coca Cola Limited becomes sponsor of different sports, cultural, and political events.
Furthermore, it performs many CRS activities to maintain communication with customers. The common public relations include the following factors. 12. 1. 5. 1. Sponsorship Sponsorship is common for most of the multinational company. Companies become the sponsor of many cultural, arts, sports events, and television programmes. Through this sponsorship, it can easily attract the concentration of the consumers around the world. 12. 1. 5. 2. Corporate Public Relations In corporate public relations, the company maintains the relationship with all the publics of the company. 12. 1. 5. 3.
Crisis Management Cowlin (2013) described Marc’s 10 steps of public relations crisis management. They are: take a deep breath, circle the wagons, investigate what happened, understand business impact, LISTEN UP, decide on corporate position and messaging, make decisions on channels of distribution, get the word out, monitor reaction and react as needed, and unwind. Generally, Coca Cola use these steps to manage the crisis. 12. 1. 6. Personal Selling Coca Cola Limited has sales people who communicate with the customers to sell the products and to build good relationship with customers.
Though, the number of sales people for personal selling is low in Coca Cola Company. Personal selling is useful when the company wants to collect information from the customers. Since, personal selling causes direct interactions with the customers. The company can use the information for its decision making. 12. 2. Media Strategy The Coca Cola Company uses different types of media for communicating with the customers. Some important media are discussed below: 12. 2. 1. Print Media Coca Cola Limited uses newspapers, weekly magazines, journals, and leaflets for spreading the message of products in many countries.
The cost of print media is not too high but still may have exceeded the limit. 12. 2. 2. Broadcast Media Television and Radio are the two most commonly used broadcast media for the Coca Cola Limited. It advertises its product through these media. But the cost of advertising in television and radio is more than the print media. 12. 2. 3. Outdoor Media Coca Cola Company uses the billboards, mall displays, street displays as the outdoor media of advertising to advertise its products. The cost of billboards and others outdoor media is not too high. 12. 2. 4. Point of Purchase
Coca Cola Limited uses the point of purchase (POP) advertising by displaying the product in the shelf of the retailers. It also hangs its posters in front of the retail stores to attract the attention of the consumers. Less cost in point of purchase advertising. Sometimes, it becomes free for good branded products. 12. 2. 5. Digital Media With the development of the technology, Coco Cola Limited started to use the digital media to communicate with the customers. The mostly used digital media are: Facebook, Twitter, LinkedIn, and YouTube. 12. 3. Marketing Mix Strategy
The marketing mix is an important part of integrated marketing communications (IMC). Gitman (2008) stated that the marketing mix is the blend of product offering, pricing, promotional methods, and distribution system that brings a specific group of consumers superior value. Source: www. bbc. co. uk 12. 3. 1. Product Strategy Dimanche (2012) claimed that Coca Cola Limited uses the differentiation product strategy. The company has positioned itself on these standards: corporate reputation for quality and innovation, successful communication of the perceived strengths of the product, and symbol of joy and fun.
In fact, the company offers different types of products. Some of those products are: Coke, Coca-Cola Zero, Diet Cherry Coke, Dr Peeper, Fanta, Inca Kola, Sprite, Sprite Zero etc. 12. 3. 2. Pricing Strategy Coca Cola limited fixes the price of the product by knowing the demand of the product, the competitor’s price, and nature of the target market. In addition, it focuses on the revenue of the company. It uses promotional pricing strategy for special occasion like Christmas, Puja, Eid etc. On the other hand, it uses the market penetration pricing strategy especially in the third world countries.
Customers from third world countries choose the products of low price. At the same time, the competition from PepsiCo plays important part in price setting. 12. 3. 3. Promotion Strategy Coco Cola limited uses different promotional tools to promote its products. It uses the traditional electronic and print media. Additionally, it uses the digital media like social media for promoting the product. It also becomes the sponsor of many international events. It uses the global promotion strategy as it has market in about 200 countries. 12. 3. 4. Place/Distribution Strategy Coca Cola limited uses the direct exporting strategy for many countries.
Licensing and franchising are also common strategies for many countries to distribute the products. Lundi (2012) described that Coca Cola has point of sales where Coca Cola is available through wholesalers/ distributors, retail/ corner stores/ supermarkets/ groceries, restaurants/ cafes/ night club, petrol stations, and automated teller machines. Coca Cola also uses vending and hug machines to distribute the product to the customers. It has over 550 vehicles for direct selling. On the other hand, it has different agents and whole sellers all over the world to manage the indirect selling. 12.
4. Message Strategy O’Guinn (2011) stated that to choose the message strategy, there are several considerations to keep in mind as you move forward. First of all, one or more message strategies may overlap in a variety of ways. Secondly, you will need to make sure that the message strategy and the method of conveying that strategy fits well with the three distinct segments that you are addressing. Finally, you will also need to consider how the message strategy you’ve chosen might evolve over time. One of the important messages of Coca Cola limited is “share a coke, share a value”. 12. 5.
Creative Content marketing communication strategy Being creative means being at the cutting edge, creating new products, new communication strategies, continue to innovation, and making new thing existing in the company. Coca Cola Limited has brought different types of products which were unique in the market at that time. In addition, some important communication tools were used earlier. 12. 5. 1. Strategies for Attracting the Consumers Bottle of Coca Cola can attract the attention of the customers. Size and packaging are two important factors to attract the consumers to the products. 12. 5. 2. Strategies for Learning
Learning process can be done through two ways. Coca Cola limited uses the words that are similar to all. And, they avoid any complex or negative words or sentences. Through same picture and same color, Coca Cola Company can attract the customer more. 12. 5. 3. Solving Memory Problems Through quality products and good messages, Coca Cola Company solves the problem of memory. It ensures that the consumers are well known about the products. 12. 5. 4. Creative Brand Awareness Packaging and category of the products in the retail store can create brand awareness. Repeat advertisement also helps to recall the brand. 13. 0.
Branding of the Products for Communication Objectives Brand shows the trust to the consumers. Consumers always prefer those products which are well known to them. Davis (2010) described that According to American Marketing Association, a brand is a customer experience represented by a collection of images and ideas; often, it refers to a symbol such as name, logo, slogan, and design scheme. Brand recognition and other reactions are created by the accumulation of experiences with the specific product or service, both directly relating to its use, and through the influence of advertising, design and media commentary.
Furthermore, Healey (2008) described that branding involves five components. They are: positioning, storytelling, design, price, and customer relationship. Coca Cola limited has become a brand for many years. In addition, there are three categories of branding. They are described below: 13. 1. Manufacturer Branding Manufacturer branding or original brand manufacturer is the process of branding a number of goods or services under its brand name. Organizations use the manufacturer branding to get rid of the brand shifting problems. In addition, Coca Cola Limited uses the manufacturer branding for its products.
It has different product under same brand name. 13. 2. Own label Branding Generally, the super markets use the own label branding. The product is produced by third party manufacturers, but the retailers use their brand name. Then it is called own label branding. Own label branding is not too common for the Coca Cola Limited. 13. 3. Generic Branding Actually, generic branding is not a branding. The products of the generic branding do not have wide recognition in the market. In addition, the promotional activities are less than the branded products. The price of this generic branding product is less.
Sometimes, Coca Cola limited uses the generic branding to penetrate the market. 14. 0. Qualities of a Good Brand Blotter (2013) discussed 10 qualities that can create a sustainable brand. The qualities are: innovation can be a tool for optimism, core values should be your driver, living systems thinking means everything is connected, not every decision should be based on financial return, doing things the right way is different than doing the right thing, look at limitations as a source for creativity, humor can be a door opener, transparency, embrace issues before others point them out for you, and know your story.
If you look at the Coca Cola Limited, you will find nearly all the qualities are available in its brand. 15. 0. Brand Strategies for Achieving communication Objectives The companies use different types of branding strategies. Some of the branding strategies are given bellow: 15. 1. Brand Line Extension In brand line extension, the company offers various types of products under same brand that has been used previously. Coca Cola Limited use different products under the same brand name. So, it can be said that Coca Cola uses the brand line extension. 15. 2. Brand Extension
Using different brand names for different products those are produced from one company is known as brand extension. Coca Cola limited uses the brands Coca-Cola, Diet Coke, Coke Zero, and Sprite for branding its products. As a result, it can said that the company also uses the brand extension strategy. 15. 3. Multi-branding When a company introduces various types of similar or different products in different brand names, then it is called multi branding. Multi branding is not too common for the Coca Cola Limited. 15. 4. Co-branding When two companies of same products come together and make a brand then it is called co-branding.
Generally, joint venture companies use the co-branding to capture the market. 16. 0. Porter’s Five Factor Analysis in Communication Strategies for Coca Cola Limited Hill (2010) described that Michael E. Porter’s five forces model shape competition within an industry. The forces are: the risk of entry by potential competitors, the intensity of rivalry among established companies within an industry, the bargaining power of buyers, the bargaining power of suppliers, and the closeness of substitutes to an industry’s products. Coca Cola limited needs to maintain these five forces in the soft drinks market.
The following table shows the five forces for Coca Cola limited. Potential Competitors Established Competitors Buyers Power Supplier’s Power Substitute Products Less pressure Good brand value Less customer switching cost, and Less capital requirement High pressure Threats from PepsiCo, Dr. Pepper and other competitors Less Pressure No pressure from individual consumers Good understanding with wholesale buyers Less Pressure Common suppliers Need not to differentiate Larger amount of suppliers. High Pressure Products of competitors Energy drinks Fruit juice Soda Taste 17. 0. Strengths and Weakness of Coca Cola Limited
Coca Cola Limited is one of the leading brands in soft drinks industry. It is operating its business in more than 200 countries. It has growth in revenues for all the years. So, these are strengths of the company. Abrahamian (2013) described that in the third quarter, net income rose 6 percent to $2. 45 billion, or 54 cents per share, in the third quarter from $2. 31 billion, or 50 cents per share, a year earlier. The weakness of Coca Cola limited is the negative effect of publicity in different countries, especially in India. Laboratory centers of different countries have declared Coca Cola as unhygienic.
18. 0. Evaluation of Communication Objectives and Strategies of Coca Cola Limited To evaluate the performance of marketing communication and objectives of Coca Cola, it is important to have the criteria for evaluating performance. Koekemer and Bird (2004) described that marketing communication evaluation process can include customer loyalty, market share, and the amount of revenue that were generated as a result of the marketing campaign. Coca Cola Limited can use these criteria for the evaluation. Coca Cola limited has huge loyal customers. In addition, those customers always prefer the Coca Cola brand.
Coca Cola limited has 17% share in the UK soft drinks market which is satisfactory. So the Coca Cola can be called as successful brand. At the same time, revenue of Coca Cola limited is $47. 27 billion (12 months ending Sep 30, 2013). So, we can say that, the Coca Cola Limited has a good marketing communication strategy to communicate with the customers. 19. 0. Conclusion Marketing communication strategy is important for a company to achieve its marketing objectives. For setting the marketing objectives, a company needs to analyze the market as well as the others factors.
Coca Cola Limited uses the context analysis and PESTEL analysis to get idea about the market environment. It has a vision of 2020. It wants to satisfy the customers with brand and wants to be the part of customer’s life. Furthermore, it wants to make a position on the customer’s mind. It has objectives regarding the segmentation, targeting and positioning of the brand. Coca Cola Limited has used the integrated marketing communication strategies successfully to achieve its goals. In addition, It has clear communication strategies regarding the products, price, promotion, and distribution.
It has selected the print, broadcast, and digital media tools to carry the message to the consumers. As a result, it has made itself as a brand to the customers. Coca Cola Limited has found out its strengths and weakness regarding the marketing communication strategies. Furthermore, it has analyzed the Porter’s five forces that have given clear idea about the market. At last, Coca Cola Limited always evaluates its performance. Whether, the company has established itself as loyal to customers and has earned the targeted revenue or not.
Cite this Coca Cola Limited Marketing Strategy
Coca Cola Limited Marketing Strategy. (2016, Jul 05). Retrieved from https://graduateway.com/coca-cola-limited-marketing-strategy/