Marketing strategy of Coca cola

Marketing strategy of Coca cola

Coca Cola is world’s leading soft drink maker and operates in more than 200 countries around the world. It sells a variety of sparkling and still beverages. It generates 60% of its revenue and about 80% of its operating profit from outside the United States. It has strong brand recognition across the globe. According to business insider, approximately 94% of the world population is aware of the red & white logo of Coca Cola

Segmentation, targeting, positioning in the Marketing strategy of Coca Cola

Segmentation helps the brand to define the appropriate products for specific customer group; Coca Cola doesn’t target a specific segment but adapts its marketing strategy by developing new products. Similarly it uses mix of undifferentiated & niche targeting strategies in order to drive sales in the competitive market. Its product Cola is popular worldwide & is liked by people of all age group while the diet coke targets niche segment for people who are more health conscious. Coca Cola uses competitive positioning strategy to be way ahead of its competitors in the Non-alcoholic beverages market.

Mission – “Our Roadmap starts with our mission, which is enduring. It declares our purpose as a company and serves as the standard against which we weigh our actions and decisions.

·         To refresh the world.

·         To inspire moments of optimism and happiness.

·         To create value and make a difference.”

Vision– “Our vision serves as the framework for our Roadmap and guides every aspect of our business by describing what we need to accomplish in order to continue achieving sustainable, quality growth.

·    People: Be a great place to work where people are inspired to be the best they can be.

·     Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and satisfy people’s desires and needs.

· Partners: Nurture a winning network of customers and suppliers, together we create mutual, enduring value.

·   Planet: Be a responsible citizen that makes a difference by helping build and support sustainable communities.

·    Profit: Maximize long-term return to shareholders while being mindful of our overall responsibilities.

·    Productivity: Be a highly effective, lean and fast-moving organization.”

Tagline – “Refreshing the world, one story at a time”.

Competitive advantage in the Marketing strategy of Coca Cola

Coca Cola has competitive edge over its competitors in terms of Operations, Cost control, Brand portfolio, Channel marketing, Collaborative customer relationship.

Operations– Outsourcing the bottling operation to the franchisee, FEMSA which is the largest Bottling franchisee of the Coca-Cola trademark beverages in the world. It helps the company in capturing important growth opportunities in under-developed non-carbonated beverage segment and in strategic acquisitions by entering into agreements to jointly acquire companies with The Coca Cola Company.

Cost control – Its diversified product portfolio, Outsourcing operations & economies of scale helps it in cutting its operational cost & increase its profitability.

Strong Brand Portfolio – Company offers a powerful and wide portfolio of beverages to its customers, and continuously explores promising beverage categories to capture growth in its different markets. Its beverage portfolio consist of carbonated soft drinks, bottled water, juices, orangeades, iso-tonics, teas, energy drinks, milk, coffee and even beer in some markets such as Brazil.

Collaborative customer relationship – Coca Cola strongly believes in participative marketing creating shared values for all stakeholders. Tailoring its extensive portfolio of products and packages for their stores based on the local market’s socioeconomic demographics, relevant consumption occasion and the store’s distinctive characteristics.

 Brand equity in the Marketing strategy of Coca Cola – Coca Cola is the one brand which is recognized by everyone around the globe. When we talk about brand equity then it is its value & it’s about stories, memories, associations, and human connections (although of course, these connections would have been very carefully and deliberately engineered by talented marketers over many years and countless board meetings). This is something that Coca-Cola has been the master of for over 100 years. This equity is derived from people’s willingness to pay a premium for the brand and an unwillingness to accept substitutes. Coca-Cola’s marketing strategy has always been to associate happiness, positivity and the good life with their products, & that’s how they are able to create high TOMA (Top of mind awareness).

Competitive analysis in the Marketing strategy of Coca Cola – Big Giants in the Non-alcoholic beverages segment have similar strategy & objectives which means innovation & creative marketing campaigns can help the companies to differentiate from each other. Competition from the local players is the other major issue that company is facing now days. Pepsi is the single largest main competitor of Coca-Cola having products across the segments.

Market analysis in the Marketing strategy of Coca Cola

Non-alcoholic beverages market is ever-growing industry & with the advent of growing Asian markets & developing nations the consumption will be higher also due to the changing lifestyle, economic conditions & changing buying habits. In this industry customer have got lots of options ranging from water to tea/coffee to soft drinks, so chances of customer switching to another brand is high. The only way to differentiate products & retain customers is the strong brand building, and creating pull in the market.

Customer analysis in the Marketing strategy of Coca Cola – Coca cola targets a mass marketing. And the customer expectation is low price, great taste, convenience & accessibility and various options to choose from.

The positioning of Nike

The Positioning statement of Nike is “For serious athletes, Nike gives confidence that provides the perfect shoe for every sport”. In today’s competitive environment, Nike, one of the global leaders in sporting goods industry, has established a strong position for enhancing athletic life style. It’s the number one sports manufacturer in the world. It is the leading sporting goods Company in the United States and hundred and ten countries. However, it has become the passion for everyone to use its brand products that create the Nike Just Do It feeling for the competition.

The consumer’s perception of brand influences their buying decision in sports industry, so Nike always has been able to position to customer’s expectation and athletic fantasy that is endorsed by real athletes.

Its Products offer a wide range of choices for the individuals; from sports equipment, athletic shoes, to clothes. It has continuously tried to target the world’s youth population through basketball and many more popular games around the world. Nike partnered with Michael Jordan to have his name Jordan shoes for basketball and designed Jordan I, Jordan II and followed by many more. Nike's marketing strategy is accepted to be an important component of the company's success. Nike is positioned as a premium-brand, selling well-designed and very expensive products.

The Nike’s effective Marketing Mix Program supports the brand positioning in the target market. Its product is considered to be highly effective and comfortable to the athletes. It has dominated United States sports market. It is recognized for the quality of its shoes and has gained the reputation all over the world. Due to its higher quality shoes, its Prices are usually higher than the normal brand. So, the customers perceive it as high-end product.

Nike truly focuses on its athletic products, rather than concentrating on fashionable outfitters. It has engaged in the cultural phenomenon in the world with its world’s most watched events like Basketball and Soccer. Also, it’s successful in gaining the attention of the United States athletes with its most watched sporting event-NFL.

The Brand essence of Nike means a unique way of expressing sport in forms of performance, whereas its Brand personality is seriousness of athletes and global representations. For example, Nike + I pod sport kit changed the way people run and created better running experience. Nike chooses independent distributors. NIKE sells its products through about 22,000 retail accounts in the U.S and licensees in other countries.

Improvements: Nike is a well-known and well established brand around the world and it is doing all its work accordingly. However, it's pricing has always been high, as a result, many people cherish to buy them but most often they find it difficult to afford. Nike should focus more on reducing its prices without hampering its quality and grand appearance.

FUTURE OF DIGITAL MARKETING IN INDIA ?

FUTURE OF DIGITAL MARKETING IN INDIA ?

Digital marketing is a booming career option today in India. With striking features like cost-effectiveness, instant response, flexibility, convenience, effectiveness, Digital Marketing is making a strong impact in the world of Marketing and Advertising. The future scope of the Digital Marketing industry is that there will be more points of contact.

Right from the day of assuming power, Digital India and Make in India have been two big USPs of prime Minister Narendra Modi.

Growth of digital Marketing

Digital Marketing industry is worth $68 billion Also ,according to eMarketer,Last year, advertising via mobile phones and tablets rose 200 percent, to $6 billion. This market is estimated to touch $7.8 billion soon. This rise is leading for high demand for professionals skilled  digital Marketing.

While all other industry are struggling with a grow rate of 5 to 10%, digital media industry is booming high with 40% growth rate. But the mist remarkable point is that this growth rate is not going to be stagnant in the coming years.

Scope of Digital Marketing in India

If you asking from the carrier aspect or from the sales, aspect the answer is yes (we are biased , please check naukri's data or econsultancy data, it will say the same ).Check the ad shows, it is shifting more towards Digital Marketing Ideas. It is not a replaced for TV or Radio, neither it is replaced for print medium. It is a different medium available for marketers.

Future scope of the Digital Marketing Industry

Indian scenario: Digital marketing is still at its initial phase in India. Most of the companies are still thinking to adopt the medium while many top brands have already rolled their digital marketing campaign. Seeing the large number of youth population in India (More than 40% of total population of India, around 460 millions youth is there , in which 333 million are literate)and the rising technology savvy young generation, corporate will be more than happy to engage the target audience and spread their products & services among them via digital media, Thus there will be a Big change in coming future.

Digital Marketing Market scenario

However, before we go ahead with anything else let's have a sneak peek to the market scenario at present.

The world of marketing has seen a great revolution in past few years whether it is advertising, promotion or sales. Even those who were unsure of the potential of digital marketing in the last decade have now dived into this ocean of opportunities offered by the internet.unlike,television marketing allows you to connect with your customer almost anytime and the entire credit goes to the internet and mobile devices. The way people are getting smartphones and tablets for anything and everything, it is apparent that demand for digital marketers will only increase in the coming the time.

Internet & Mobile -some Facts and Figures:

As per a recent study although internet penetration in india is yet to cross 16% of the population, however in absolute number this percentage works out to nearly 10 times the population of Australia.

According to a recent report released by IAMAI and IMRB, internet penetration in India has crossed the 200 million mark by October 2013.Beside it is estimated that there will around 243 million internet users in the country by June 2014,leaving behind the US as the world second largest internet base after China.

moreover, India has 110 million mobile internet users of which 25 million are in rural India. Of this 5 million internet users in rural India 70% access the web via mobile phones.