Evaluation
A media plan is basically a document that helps in organizing and highlighting the different aspects of the media strategy. A basic media plan stretches and reaches sections of the media strategy that need to be focused in order to make an effective impact on the target audience. This media plan or marketing plan as you may call it is a handy tool to remind the person responsible for the marketing strategy that what his goals and objectives for the marketing strategy were and whether or not he or she is on the right track to achieve those goals and objectives.
This media plan or marketing plan is of the product Coca Cola and how it would reach the target audience. The Coca Cola Company has highlighted several specific objectives for its marketing campaigns to achieve. The core objective is to achieve an increase in the sales, the success of achieving this goal or not would be measured through the amount of sales made after the marketing plan has been implemented effectively for at least 2 or 3 months. The rate of change of sales might differ but patience should be kept to check the validity of the marketing plan.
Other method of measuring the effectiveness of this marketing or media plan is through the market share that the company holds. According to this media plan Coca Cola plans to increases its market share by 2 percent till the end of the year. This target is the benchmark which Coca Cola should aim for in order to reach somewhere close to 2 percent, the reason being that Pepsi Cola has given them tough competition in the market. Coca Cola has devised certain marketing tools and advertising strategies which would help them achieve this goal. Firstly is to focus and emphasize more on social marketing, which is the market trend these days. Promoting social marketing and evaluating the benefits it provides to the company would affect directly on the market share of the product. Secondly the company aims to sponsor more sports and events. This has been an old tool used by Coca Cola Company and have proved to be worthwhile. This time whether it would affect the market share of the company or not is still doubtful but it would be used as it is still used by many companies effectively.
The Company has a common structure in terms of reach and frequency. Both aspects are related and important to marketing of any product. Coca Cola Company uses high reach and medium frequency, which has been a most logical and special feature of this marketing plan. The result to all these steps would show in profit and sales and might be a mixture of new consumers or increase consumption of current consumers.
The Company would focus on the Internet as a specialized medium to reach the consumers, and would use Facebook and Internet Advertising as an additional tool to help improve the market share of the Company. Apart from that national level magazines would be used to advertise the product
The conclusion is that the success of this marketing plan would be judged by the market share at the end of this year, which should increase round about 2 percent. Apart from these the sub marketing tactics used by Coca Cola Company can be measured along different lines.
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