ACKNOWLEDGEMENT
I would like to convey my sincere thanks to Ms. Bhawna Kapil (teacher’s name), my Marketing management teacher, who always gave me valuable suggestions and guidance during the project. She has a source of inspiration and helped me understand and remember important details of the project.
She gave me an amazing opportunity to do this wonderful project ‘(Marketing mix of COCA-COLA)’. I also thank my parents and friends for their help and support in finalizing this project within the limited time frame.
Place: Vasant Kunj (New Delhi) Name: Aayushi Singhal
Date: 19/11/2023 Signature:
TABLE OF CONTENT
S.NO Title Page no.
01 ABSTRACT 04
02 INTRODUCTION5-6
What is COCA – COLA?6-7
Coca – Cola marketing strategy
Marketing Mix of Coca – Cola.08
Coca – Cola’s Marketing mix 7P’s9-17
Coca – Cola’s Mission18
Coca – Cola’s Vision18 - 19
Coca – Cola’s Values19
Objectives of Study 20
04 Review of COCA – COLA COMPANY 21
05 Research Methodology 22
06 Conclusion 23
07 References 24
ABSTRACT
The journey of The Coca-Cola Company began as a humble one-man venture, evolving over the past 110 years into one of the largest global enterprises. Today, it stands as the world's leading producer and distributor of soft drink syrups, boasting a business worth over 50 billion dollars. Dr. John Pemberton, an Atlanta pharmacist, is credited with inventing Coca-Cola, while the name was given by Frank Robinson Candler, who made significant contributions during his ownership.
The core mission of Coca-Cola is to create enduring value by establishing a business that enhances the company's trademark. The primary focus is on satisfying customers and generating substantial profits through product sales. With a vast portfolio of hundreds of brands and a multitude of products, Coca-Cola reaches consumers in over 200 countries. The iconic Coca-Cola classic brand, recognized for its distinctive white and red branding and original formulas, remains one of the company's most renowned offerings.
INTRODUCTION
What is Coca – Cola?
Source of - https://www.google.com
Coca-Cola, a carbonated soft drink manufactured by the Coca-Cola Company, was originally formulated with the purpose of serving as a medicinal beverage for patients. While its initial recipe was recognized for its medicinal properties, the specific formula for the soft drink is now kept as a closely guarded trade secret. The name of the beverage alludes to its historical connection with a mixture of coca leaves and coca nuts, constituting a source of caffeine.
In the quest to contend with industry leaders, competition inevitably arises, with various companies presenting alternatives. Despite the multitude of competitors in the market, none have successfully overcome the effectiveness of Coca-Cola's marketing strategy.
COCA – COLA MARKETING STRATEGY –
Coca-Cola, a globally renowned brand in the soft drink industry, continues to maintain its leading position as the top competitor among all other brands in the market. The brand's unique marketing strategy has been a key factor in its success. Since its establishment in 1886 with a modest beginning of nine servings a day, Coca-Cola has evolved to produce approximately 1.9 billion servings daily.
The effectiveness of Coca-Cola's marketing strategies is evident in its robust brand foundation and widespread global recognition. A well-crafted and thoughtful strategy is crucial for guiding any company toward success. Success in business is contingent on the implementation of a carefully planned marketing campaign, which can take various formats depending on the nature of the product.
Coca-Cola's global triumph underscores the importance of a meticulously devised marketing strategy in achieving widespread success for a company.
https://www.google.com Coca-Cola-marketing-strategy
By implementing a carefully devised and thoughtful marketing strategy, any company has the potential to generate substantial profits in business and establish a positive market image, positioning itself effectively against alternative beverage options.
MARKETING MIX OF COCA- COLA
The term "marketing mix" pertains to the fundamental framework of a business, traditionally centered on product, pricing, place, and promotion. It encompasses a set of marketing tactics employed by a company to fulfill its marketing goals within a specific target market. In essence, the marketing mix comprehensively addresses the marketing and business strategies associated with a particular business. In its definition, it elucidates the combination of elements that constitute the marketing approach of a business.
COCA – COLA’S MARKETING MIX 7 P’S
Examining Coca-Cola's 7Ps, encompassing Product, Price, Place, Promotion, People, Process, and Physical Evidence.
https://bornintelligence.com
“The marketing mix refers to the set of actions that a company uses to promote its brand or product in the market”
-JEROME MCCARTHY-
https://www.google.com 7ps-of-marketing-mix
PRODUCT:
- It's essential to analyze the market and gauge customer sentiments.
- Evaluate whether the online product you are selling is genuinely in demand.
- Coca-Cola boasts the broadest portfolio in the beverage industry, featuring 3,300 products.
- Notable Coca-Cola brands in India include LIMCA, MAAZA, and LIMCA.
- SPRITE, THUMS UP, MINUTE MAID, NIMBU FRESH, NESTED ICED TEA.
https://globalmarketingprofessor.com
PRICE:
- Prices vary during different seasons; Coca-Cola may adjust its product prices based on seasonal considerations. With summer being a peak season for the global beverage industry, prices are typically reduced in winter to sustain sales and profitability during the off-peak period.
- Typically, they lower the prices of their PET bottles or 300 ml glass bottles.
PLACE:
- It is globally accessible with varied flavors.
- Coca-Cola maintains an extensive distribution network across six regions: North America, Latin America, Africa, Europe, the Pacific, and Eurasia.
- Coca-Cola bottling partners prioritize activities such as manufacturing, packaging, and shipping to various agents.
https://i.ytimg.com
PROMOTION:
- Allocates billions of dollars annually for advertising and promotional activities.
- Sustains its industry-leading position in competition with rival Pepsi.
- Dedicates a significant part of its advertising budget to television promotions.
- Utilizes magazine ads, online platforms, and social media for marketing purposes.
- Implements store promotions to boost revenue during less active periods.
PEOPLE:
- The crucial factor for progress involves a motivational system and a rewarding structure focused on understanding the needs of their employees.
- They distinguish between financial and non-financial incentives.
- The mentioned figures encompass aspects such as the number of consumers, employees, management, culture, and customer service.
PROCESS:
Coca-Cola has embraced an integrated competitive supply chain strategy to enhance its operational framework and promote sustainability. The various processes involved include conveying ingredients, washing equipment, mixing and blending, filling, labeling, packaging, and warehousing. This process is often termed as 'hidden' because it remains unseen by customers.
https://image.slidesharecdn.com/co*ke
PHYSICAL EVIDENCE:
Establishing brand recognition is effortlessly accomplished in any country worldwide, owing to the easily recognizable and distinct shape and colors of Coca-Cola products on retail shelves. The company provides retailers with designated shelves that adhere to its branding, facilitating a seamless and prompt identification of the desired product by customers.
https://images-wixmp
COCA – COLA’S MISSION
The Coca-Cola Roadmap commences with their enduring mission, which serves as the company's declared purpose and sets the criteria against which they measure their progress and decisions.
- Refreshing the world.
- Inspiring moments of optimism and happiness.
- Creating value and making a positive difference.
COCA – COLA’S VISION
The vision of Coca-Cola serves as the foundation for their Roadmap, providing guidance to every facet of their business by articulating the objectives necessary for sustaining quality growth.
- PEOPLE: Strive to create an excellent workplace that inspires individuals to reach their fullest potential.
- PORTFOLIO: Introduce to the world a range of high-quality beverage brands that foresee and fulfill people's desires and needs.
- PARTNERS: Cultivate a successful network of customers and suppliers, collaborating to generate lasting, mutual value.
- PLANET: Act as a responsible citizen committed to making a positive impact by contributing to the development and sustenance of resilient communities.
- PROFIT: Optimize long-term returns for shareholders, all while maintaining awareness of broader responsibilities.
- PRODUCTIVITY: Operate as a highly efficient, adaptive, and fast-paced organization.
COCA – COLA’S VALUES:
These values act as a guiding force for their actions, illustrating their behavior in the world.
- LEADERSHIP: Demonstrate the courage to influence a positive future.
- COLLABORATION: Harness the power of collective intelligence.
- INTEGRITY: Embrace authenticity.
- ACCOUNTABILITY: Acknowledge that achieving goals is an individual responsibility.
- PASSION: Wholeheartedly committed in both spirit and intellect.
- DIVERSITY: Embrace inclusivity reflective of our diverse range of brands.
- QUALITY: Excel in every aspect of what we do.
OBJECTIVES OF STUDY
- To know about COCA – COLA COMPANY.
- To know about COCA – COLA’S MARKETING STRATEGY.
- To deep study about Coca – Cola marketing mix 7P’s and its whole process to reach the path from manufacturing industry to market.
- To know the companies value and brand in market.
REVIEW OF COCA – COLA COMPANY
“While many view our Company as simply “Coca-Cola,” our system operates through multiple local channels. Our Company manufactures and sells concentrates, beverage bases and syrups to bottling operations, owns the brands and is responsible for consumer brand marketing initiatives. Our bottling partners manufacture, package, merchandise and distribute the final branded beverages to our customers and vending partners, who then sell our products to consumers”
(Coca-Cola company)
RESEARCH METHODOLOGY
This study methodology is descriptive in MARKETING MIX OF COCA – COLA by nature. Secondary data collection technique was implemented. The informative data is used in this study has been collected from various sources, different websites published research paper.
CONCLUSION
This article aims to provide a comprehensive understanding of how a well-crafted marketing strategy for a product can significantly impact a company's sales and customer reach. It underscores the crucial role of a precisely designed Coca-Cola marketing plan in achieving these objectives. With the conclusion of the discussion on the 7P's strategy, our exploration of the marketing mix concludes. Coca-Cola stands out as a remarkably successful company that excels in both the quality and variety of its product offerings. The pricing strategy is not only affordable but also tailored perfectly to its target audience and industry. Overall, the entirety of Coca-Cola's marketing strategy and marketing mix offers insight into the brand's impressive journey and its aspirations to solidify its presence in the minds of consumers in the future.
REFERENCE
- https://notesmatic.com/2017/03/coca-cola-marketing-mix/
- http://heartofcodes.com/marketing-mix-of-coca-cola/
https://www.coca-colacompany.com/careers/who-we-are-infographic
