Marketing assignment essay help: Marketing campaign and consumer market of coke
Assessing the consumer behavior has always been a tricky matter for a marketer and whenever a company fails in its pursuit of excellence, it goes in retrospective to search for the reasons for failure and the first reason which appears on top of the list is consumer behavior. A company conducts many researches to have some insights of consumers’ behavior and company which succeeds in doing so become successful and which doesn’t, never does. So a correct analysis of consumer behavior becomes imperative for a successful marketing campaign.
The Coca-Cola Company is one of the most renowned American MNC of the world and there are very few marketers in the world more successful than Coca-Cola. Its flagship brand, Coca-Cola has become an iconic beverage for people all over the world from every age-group, income class, religions and ethnicities. As it’s been said about Coke that on one does it better than Coke when the issues related to marketing are discussed (Coca-Cola 2012).
In this paper, we will do the consumer behavior analysis from Coke’s point of view, taking New Zealand as our marketing territory.
2.0 Buyer Behavior
2.1 Cultural Factors
The cultural factor is related in marketing because it shows how culture affects the buying behavior of the consumers. Culture is defined as combination of values, beliefs, knowledge which is being shared by the people of particular country (Karakowsky, 2001). The culture of New Zealand is cosmopolitan in nature and it states that changes takes place in terms of natural environment & demographics.
|Culture||New Zealand is a country which is famous for kiwi. It has been operating there in the name of The Coco Cola Company. The main focus is given for using fruit juice pulp in it while manufacturing there.|
In terms of Spirituality it has been recycling its waste products & participating in the beautification programs which are being organized by local community. The coca cola foundation has been sharing their resources to develop the communities of New Zealand (Scoop Media 2012).Sub CultureThere are 11 regional councils and 67 territorial authorities in New Zealand. It has got mild temperature. The regional difference occurs because maximum majority is held by white New Zealanders have migrated from American, Iris European and Australian (The Social Report, 2010). The minority is of community is shared by Mauri known as the tribal group.Social ClassThe Mauri are those groups of people who are unable to purchase drinks like Coca Cola because they are trivals. The British society’s people and White New Zealanders can purchase soft drinks like Coca Cola. People have been changing their fooding habits because they want to get relaxed with such foods. Today’s modern Generation like to enjoy drinks like Coca cola at restaurants and public place because the cost range from $1.5 & above (Backpack New Zealand, 2004).
2.2 Social Factors
The social factors such as groups, family members, roles & status has been considered by Coca Cola Company while entering into New Zealand. It explains that company should plan their strategies by valuing the long term interests of the societies.
|Groups||The citizens of New Zealand believe to working in group or team based activities. It shows that the people who come from diverse culture backgrounds share their culture and fooding habits. It helps the company to fulfill the requirements of the migrants and as well as the native New Zealanders (New Zealand Tourism Guide, 2012). They prefer Coca Cola with several flavors such as vanilla, lime, and cherry flavor. The society is interwoven in nature and people prefer to|
|Family||The majority of people are white New Zealanders who believe in nuclear families. Though the husband and wives are working therefore there is shortage of time to prepare the food and drinks. In such case both of them can take decision while purchasing household items. In such situation the readymade drinks such as Coca Cola will fulfill their needs. At several occasions, events Coca Cola have been in demand for the families too. These days due to factors such as obesity and health related issues have made the families conscious regarding consuming of such drinks. The entry of several fruit juices has been capturing the market share of Coca cola in New Zealand.|
|Roles and Statues||The market is being captured by Coca Cola company in New Zealand by using several promotional schemes such as by sharing 50 names with the coke. The Coca Cola open happiness can join the community at face book. The company is also participating in events such as rugby and doing sponsorships for the several other events. The several contests such as why to share the coke with others are being done. In the year 2011-12 summer coke dome made is promotion all across New Zealand. The places such as subways and petrol stations are being used for Coca Cola’s all black promotions (Satellite Media, 2012).|
There are certain personal factors which affects behavior of consumers while purchasing any product. These factors are explained below in the tabular format.
|Ag1e & Life Cycle Stage||The total population of New Zealand is more than 4 million. The life expectancy of an individual in New Zealand is 82 years for females and 78 years for males. The youth or young population is more in this country. The life expectancy is increasing this shows that Coca Cola can be marketed for many years. Maximum people have been immigrated to this country from several nations either for trade or higher studies.|
|Occupation||In New Zealand several occupations have been followed by people such as agriculture, construction, education, hospitality, mining, retail trade, transport, health care and etc. Coca has been entering by the means of manufacturing unit and is exploring its business either on wholesale or retail basis. It shows organized sectors hire the young talent who prefer to consume drinks such as Coca cola and fast food.|
|Economic Circumstances||New Zealand is highly involved in international trading process. The Coca Cola company is being affected because of the poor economic conditions being faced by citizens over there. Maximum youths are unemployed and they have do not have purchasing power. It shows declining sales of Coca Cola in New Zealand. The economy is growing with a slower rate therefore company has designed bottle with minimum cost of $1.5(The Treasury, 2011).|
|Lifestyle||Maximum students are being migrated to new Zealand for higher studies. English is the main language used here. People here engage themselves in sports and entertainment based activities. Coca Cola company has been designing its products in form of cans and diet coke to attract the consumers by adding several flavors to it.|
|personality||The celebrity such as Hilda Clark of Music Hall is promoting coca cola at New Zealand to attract the young consumers.|
|Self Concept.||The self concept is being used for protecting health of consumers and its families by adding innovations to it such as Diet coke and etc.|
2.4 Psychological Factors
The psychological factors will help to identify the behavior of consumers in terms of motivation, learning, perception and attitudes towards Coca Cola in New Zealand.
|Motivation||The factors that motivate the consumers to consume Coca Cola are the several flavors which have been launched in the market of New Zealand by the company. It is being consumed because it can quench the thirst by refreshing the moment. The quality is being improved in terms of health by company because consumers want to consume it with low sugar and fat. It is safe because it is preserved in bottles and tin cans. The commercial also motivate the consumers to consume it.|
|Perception||The company is tapping the emotions of consumers by displaying the bottles and cans of Coca Cola in restaurants, bars, grocery shops and super markets. The red and black color reflects that consumers can go for it. The minimum size bottle cost around $ 1.5 and can go up to maximum. The punch line being used such as live positively chose your brand, and my coke is being used easily.|
|Learning||The consumer gain learning experience at New Zealand form several advertisements shown in televisions, social networking sites, Billboards, Vending Machines, celebrity endorsement, Sponsorship programs, collaboration with the Non Governmental Organizations, Newspaper , and marketing it in form of pet Bottles(William Reed Business Media SAS, 2012)|
|Beliefs and Attitudes||The believes and attitudes of people change according to time. The drink was criticized by the consumers when the health related issue such as obesity took place and people started to criticize and consume it less. Though coke wants to maintain the belief of consumers there for company is trying its best to provide caffeine free coke in New Zealand. Diet coke is being launches and several flavors are being added to it.|
2.5 Impact of cross cultural dimensions
According to Hofstede’s Cultural theory marketing of coca cola is done in New Zealand in multiple manners.
|Area||Definition||Impact on Marketing|
|Individualism Vs. Collectivism||Individualism: The extent to which a culture values the individual, personal identity and independence|
Collectivism: The importance placed on the group, group-centeredness and interdependence.
The families are sharing the individual cultures such as the white New Zealanders share the joint family system. They believe in independent system.
The collectivism is shared at workplaces such as in companies and team base organizations.Power DistanceThe degree to which wealth, prestige and power are equally distributed in a cultureThe society is not equally distributing these factors like power and prestige because majority dominates the minority at New Zealand.Masculinity Vs. FeminityThe measure of whether the biological differences between the sexes should or should not have implications for their roles in social activitiesThere is no discrimination on the basis of Genders at organizations and in societies. They value each other equally and earn their livelihood. (Solution Nine 2012).Uncertainity AvoidanceThe extent to which members of a culture feel nervous or threatened by situations they perceive as ambiguous, unclear or unstructured = ability to be ok with risk
The main language used is English. There is huge number of immigrants and the economy of country is not growing which shows that political and economic systems are unstructured.
2.6 Evaluation of the Target Markets
The target market is defined as the consumers which are being segmented in terms of products being manufactured for the consumers. It is being designed according to several designs, volume and prices.
|TM||Description Of TM||Marketing strategies of TM|
Driven by Taste, ease of use, benefitsThe Infants are not being provided these sorts of drinks because companies do not target such segment.Older PersonsAge: 60 plus
Incomes: Fixed by govt, but has accumulated wealth
Driven by health, medicinal benefits
The diet coke is being launched in the market for the consumers because they are health conscious in nature.YoungstersAge: 3-59
Driven by Taste, ease of use, benefits
The young age group prefer to consume such drinks because they want to experience new flavors and enjoy the fun moment with Coca cola. The several commercial advertisements and coke can gifts are used for promoting it.
PART B: Buyer behaviour and the decision process
3.0 Buyer behaviour
Consumer Buying Behaviour refers to the process of buying a particular product or a service so as to identify the needs of the consumers. Buying behaviour refers to the study of consumer buying where in the customer plays three distinct roes such as of a payer, user & buyer.
3.1Identify and analyse the consumer buying roles for each of the following groups: of initiator, influencer, decider, buyer and user roles. Note for each indicate its role in influencing marketing strategy (pc 3.1)
|Initiator||Influencer||Decider||Buyer and user roles|
|Description||Initiators are the ones who initiate the purchasing process.||Influencers are those who affect the buying decision making process. This is practiced by defining the specifications of the products i.e. what is to be bought.||Deciders are the people who have a formal or informal power to decide that is which supplier would be selected to receive a particular contract.||Users refer to the people within the organization who will actually use the product or service.|
|Influence on marketing strategy||The influence of initiators on the marketing strategy is low. This is because initiators refer to the people who initiate the purchase process but does not influence it.||The influence of influencer on the marketing strategy is high. They are the people who influence the purchase decision making process or make an actual purchase.||The influence of decider on the marketing strategy is quite High. Decider refers to an individual who decides whether to buy a particular product or a service.||The influence of buyer on the marketing strategy is the maximum. Buyer or the user refers to an individual who makes the purchase transaction.|
|High / Low||The influence of initiator is LOW within the purchase process or marketing strategy.||The influence of influencer is HIGH within the purchase process or marketing strategy.||The influence of decider is HIGH within the purchase process or marketing strategy.||The influence of buyer and user roles is HIGH within the purchase process or marketing strategy.|
3.2Identify and analyse the consumer decision behaviour buying roles analysed in terms of high and low involvement in buying situations. Note for each indicate implication for selection of relevant stimuli (pc 3.2)
The consumer decision behaviour buying roles can be analyzed on the basis of the following terms such as:
3.3 Identify and analyse the buyer decision process. Relevant marketing strategies at each stage must be discussed. Note stages to be problem or need recognition, information search, evaluation of alternatives, purchase decision, purchase act, post purchase behaviour. (pc 3.3)
Buyer decision making process refers to the process or the steps which is taken into consideration before buying a particular product. The process keeps in mind the various steps such as identification of the problem, search for the relevant information; evaluation of the various alternatives, purchase decision & post purchase decision.
|Need Recognition||Need or Problem recognition refers to the first step in the buyer decision making process. This step takes into consideration, the need for a particular product or a service. For example, if a person is thirsty, then depending upon the levels of his thirst the consumer will decide i.e. whether to buy Cold Drink or a bottle of Mineral Water. In order to locate the alternatives search of the various outcomes shall be done. The marketing strategy which shall be kept in mind while recognizing the need of the consumers would be to practice segmentation, targeting & positioning.|
|Relevant search of information||Once the need for a particular product is realized or recognized, the next step is to search for relevant information. The various sources from where the relevant information can be searched are the personal sources (friends, family members, acquaintances, co workers, etc), public sources (Television, Radio, Magazines, etc), commercial sources (Advertisements, packaging of the product, Point of Display, etc) and one’s own experience. Therefore, proper communication strategies shall be implemented which would help the consumers up to date regarding the various alternatives available. For example, when a person is thirsty the alternatives available with him are soft drinks such as Coca Cola, Diet Coke, Pepsi, Juices, Mock tails & Mineral Water.|
|Evaluating the alternatives||Based upon the various alternatives available mentioned above, the consumer will buy one of the best suited alternatives. The alternative would be one of the best alternatives on the basis of price, quality, value, taste as well as fulfilment of the needs of the customer. For example, if a person is thirsty based upon the level of his thirst the consumer will either buy a bottle of mineral water or grab a can of coca cola.|
|Purchase Decision||Once evaluation of the alternatives has been done on the basis of various parameters the next step is to purchase a particular product or a service. In this step of consumer decision making process, the customer finally purchases the product if all the requirements are fulfilled.|
|Post Purchase Behaviour||Once the product is purchased, the last step in the consumer decision making process refers to post purchase behaviour. It refers to an in depth analysis i.e. whether the product is useful to him or not. The customer analyzes the product based upon the fact i.e. whether the product fulfils the needs of the same or not.|
3.4 Identify and analyse the buyer decision process for new products. Relevant marketing strategies at each stage must be discussed. Note stages to be awareness, interest, evaluation, trial and adoption, diffusion. (pc 3.4)
The decision making process opted for new products is known as the Product Adoption Process. Product adoption refers to the way with which the new consumers learn about the new products. The buyer decision process for new products refers to a psychological process where in the decision opted by the customers to use a particular product on regular basis is being done. The buyer decision process for new products has been explained below.
|Product Awareness||The first step in the buyer decision process for new products would be to make the customers aware regarding the product offerings. In order to make the consumers aware regarding a particular product, various types of tools of communication such as radio, commercials, banners, word of mouth marketing shall be utilised (Loudon & Bitta, 2002).|
|Product Interest||Once the consumer becomes aware regarding the product offering, the consumers will start collecting information related to the product.|
|Product Evaluation||After the collection of relevant information of the product, the next step would be to evaluate the product on the basis of various parameters such as benefits, price, quality, etc.|
|Product Trial||Product trial refers to roll the product in the market so that the consumers buy the product in smaller quantities.|
|Product Adoption||Lastly, after the trial of the product when the consumers are satisfied with the product offerings the customers would be required to make a decision i.e. whether to adopt the product in future or not (The Social Report, 2010).|
- Buyer behaviour
4.1 Non-consumer markets versus consumer markets
Consumer Market refers to a market place where in the products bought by the consumers are for their own or personal use. On the other hand, non consumer market refers to a market place where in the products bought are either for industrial use or for the manufacturing of some other product (Scoop Media, 2012).
The list of non consumer markets & consumer markets wherein Coca Cola is readily available has been listed as follows. They are as under:
Non Consumer Markets
|Night Clubs & Bars|
6, 000+Normal Coca Cola, Diet Coke (Offered at cheap prices, value for money)The product offerings are stored at low temperature freezers
Stored in refrigerators
Offered in cans
Half litre bottlesMarriage & Parties
500+Coca Cola is offered in different variants such as Coca Cola Vanilla, Coca Cola Raspberry, Caffeine free Coca Cola, Coca Cola Cherry, New Coke, Diet Coke & Coca Cola OrangeFridge
Service provisionLiquor outlets (direct)
45, 000Diet Coke, Coca Cola, New Coke, Coco Cola (Lemon), Coco Cola (Lime), Coco Cola (Raspberry)Stored in refrigerators
Packed in CansHotels & Restaurants10, 000+Diet Coke & Coca ColaStored in refrigerators
Trained staff members
Grocery Shops1, 00, 000+Diet Coke, Coca Cola, New Coke, Coca Cola (Lime), Coca Cola (Orange)Stored in refrigerators
Stored in freezersSuper Markets20, 000+Coca Cola Vanilla, Coca Cola Raspberry, Caffeine free Coca Cola, Coca Cola Cherry, New Coke, Diet Coke & Coca Cola OrangePacked in cans
Family pack bottles
Party pack bottles
4.2 For your product in a country of your choice differentiate the buyer process in non-consumer markets from consumer markets in terms of structured and systematic buying procedures. Then clearly identify the implications for marketing strategies (pc 4.2)
The buyer process in the non consumer market & the consumer market has been described in this section of the report i.e.:
|Non Consumer Market||Consumer Market|
|Þ Complex buying Behaviour|
Þ Dissonance buying Behaviour
Þ Habitual buying Behaviour
Þ Variety buying Behaviour
|Non Consumer Market|
Structured and proceduresImplicationBars
Bulk purchase of the products such as pet bottles, cans, family packs, party packs, etc.
The implication of the marketing strategies which can be seen within the consumer markets would be to require more exact specificationsWedding planners
Bulk orders to purchase variants for Coca ColaLiquor outlets (direct)
Bulk orders to purchase variants for Coca ColaHotelsBulk purchase of cans, pet bottles, family packs, party pack, etc
Number of people involved in purchase
Grocery ShopsConsumers tend to buy Coco Cola cans, Pet Bottles, etc in small number
The implication of the marketing strategies which can be seen within the consumer markets would be to require more exact specifications (Bhasin, 2010).
Super Market StoresThe store managers of the upper market stores such as Carrefour, Wal-mart, etc buy the products in bulk so as to provide its customers with readily available products. The individuals tend to buy the product in smaller quantities (Kuester, 2012).
4.3 For your product in a country of your choice differentiate the buying decision process in non-consumer markets from consumer markets in terms of the number of people involved in decision processes and their relationships. Then clearly identify the implications for marketing strategies (pc 4.3)
The buying decision making process in non consumer markets as compared to the consumer markets can be differentiated on the basis of the process of decision making process.
The buying decision making process consists of the following steps such as
Buying decision making process (consumer markets)
Buying decision making process
(non consumer markets)
|Þ Problem recognition|
Þ Search for relevant information
Þ Evaluation of the alternatives
Þ Purchase decision
Þ Post purchase behaviourÞ Recognition of the problems
Þ General description of the needs
Þ Specification of the product
Þ Search of the supplier
Þ Solicitation of the proposal
Þ Selection of the supplier
Þ Specification of the order
Þ Review of the suppliers performance
Non Consumer Market
Number of people involved in purchase
Bulk purchase of cans, pet bottles, family packs, party pack, etc
The implication of the marketing strategy which can be seen within the non consumer markets would be competitive bidding & negotiations.Wedding planners
Bulk orders to purchase variants for Coca ColaLiquor outlets (direct)
Bulk orders to purchase variants for Coca ColaHotelsBulk purchase of cans, pet bottles, family packs, party pack, etc
Number of people involved in purchase
Grocery ShopsConsumers tend to buy Coco Cola cans, Pet Bottles, etc in small number
The implication of the marketing strategies which can be seen within the consumer markets would be to require more exact specifications.
Super Market StoresThe store managers of the upper market stores such as Carrefour, Wal-mart, etc buy the products in bulk so as to provide its customers with readily available products. The individuals tend to buy the product in smaller quantities (Karakowsky, 2001).
4.4 Discuss the concept of derived demand and the relationship between consumer demand and organisational buying behaviour for your product clearly identifying examples. Then clearly identify the implications for marketing strategies (pc 4.4)
Derived Demand refers to a type of demand, where in the demand for goods or services occur as a result of the demand of the final or intermediate product.
|Derived demand||Implications for marketing strategies|
|Consumer demand||The consumer demand for Coca Cola can be seen when an individual either buys a can of coca cola or a pet bottle.||The marketing strategies for consumer demand shall be formulated in such a manner where in the consumers would be attracted to opt for coca cola as compared to its competitors (Blackwell & Engel, 2006).|
|Organisational buying behaviour||The organizational buying behaviour can be seen when the non consumer markets such as bar & night clubs, wedding planners, liquor shops & other service organizations buy the pack of coca cola bottles in bulk so as to meet the needs of the consumer (Backpack New Zealand, 2004).||The marketing strategies for organizational buying behaviour shall be formulated in such a manner where in the enterprises would be attracted to buy the product in bulk.|
4.5 Discuss the concept of joint demand and the relationship between demand for one industrial product and consequential impacts for other industrial products are identified. Then clearly identify the implications for marketing strategies (pc 4.5)
Joint Demand refers to a type of demand which occurs when the demand for two or more products are interdependent in nature.
|Joint demand||Implications for marketing strategies|
|Demand for one industrial product||The demand for one industrial product such as a Glass of Vodka is attached with the demand of Coca Cola.||The marketing strategies for consumer demand shall be formulated in such a manner where in the consumers would be attracted to opt for coca cola as compared to its competitors (Blackwell & Engel, 2006).|
|Organisational buying behaviour||The demand of|
PART C: Buyer behaviour in International markets
5.1 International Buyer behaviour
Introduction: Buyers’ behaviours are subjected to not only the local cultural changes but changes in international atmosphere too. As a marketer, you have to make your product look good whether you are catering to local market or international market. A marketer’s expansion strategies as well as his marketing strategies regarding international markets do have their impact on his local market consumer’s behaviour. Following is an analysis of the factors that help shape the buyer’s perception in international markets:
|factors that influence buyer behaviour||Marketing activities of your product.||implications for marketing strategies|
|local customs||Cheerfulness, casual appeal of the product||Make ad campaigns that are heart-warming and cheerful in nature.||The traditional Maori culture will make Coke focus on presenting user-friendly beverages while white New-Zealanders will demand for more varieties that suit their taste-buds.|
|language||Ads made in English or Maori language||Make ad campaigns in two languages- English and Maori||Employing two languages for communicating the marketing strategies will help Coke serve two constituent communities of modern New Zealand.|
|life styles||Health conscious products, company’s targeted customer-groups||Coca-Cola should formulate the strategies that send consumers a message regarding companies use of best ingredients for making superior beverages||Coca-Cola, if employs such marketing strategies, will be able to build a positive image among the health-conscious New-Zealanders|
|education||Educative ads||Since New-Zealand boasts of high literacy rate, company should build marketing campaigns that target highly educated New-Zealanders and communicate companies policy||Such ads will bring accountability to Coke’s marketing campaign and build its trusting image among New-Zealanders|
|social values||Environment-friendly products, ads that promote communal harmony and friendships||Coke, being a corporate giant, is known for its environmental friendly campaigns. They should build campaigns that show Coke using reusable materials for bottle-making.||Such environment-friendly activities will help Coke elevate its status as a company which cares for environment.|
|religions||Ads promoting religious harmony||Company should make strategies which can target people from every ethnic group of New Zealand, consisting every religion||Coke could well become a company that spreads the message of religious peace and unity via its ads.|
|cultural values||Ads which target issues like education for poor, child-labour etc.||Coca-Cola should make strategies that portray their intention of making financial contribution to above-mentioned issues||Coke will earn a lot of goodwill among the corporate world for such social and cultural initiatives.|
|business norms||Ads showing compliance with government rules and regulations of product manufacturing and promotion||Coke should devise a marketing campaign that conveys to its customer that all the rules are followed by the company in making the best beverage of the world||Coca-Cola will be regarded as a responsible corporate citizens who respect the Government legal framework|
External environmental factor influences the consumers’ preferences in a big way. A country’s economical, social and political environment should be stable for a company’s successful operations. An analysis describing the relationship between various external environmental factors and international marketing decision has been presented here:
environmental factors that influence buyer behaviour
International marketing activities of your product.
implications for marketing strategiescomment on economicEconomic slowdownReduce the price, launch new bottles of different sizesDespite the economic slowdown, consumers will keep having Coke as their favourite cold-drinklegal and cultural environmentsCompany’s legal disputes, cultural festivities like Christmas, New Year etc.Companies should devise new offers for Christmas, legal disputes should better not be endorsedChristmas and holiday season will automatically have good impact on Coke’s saleslocal customsLocal consumption habits like preference for alcoholic beveragesDevise ads that increase the coke consumption among the youthsSales will pick up if company will able to disguise the alcohol-consuming population to its non-alcoholic beverageslanguagePreference for English languageCompany should target the majority population of NZ with its ad campaignsMajority population will propel the sales further
Symbolism related to any brand holds its identity in the market-place. Product layout, design, labelling, logo, trademarks are mighty essential for a product success. A discussion regarding product symbolism and its relationship with buyer behaviour is presented here:
|significance of symbolism for buyer behaviours||International marketing activities of your product.||implications for marketing strategies|
|design||Very important as designs of logo, bottles are very brand-specific||Make the logo and brand reach to the wider audiences||Wider reach will account for heavier sales|
|colour||Red Colour is associated with Coca-Cola and consumer think of Coca-Cola with Red colour back at their heads||Enhanced use of Red colour in the ad campaigns of Coke||More people will get to know about the Coca-Cola as Red will ensure more consumer recognition|
|symbols||Logo, the small bottle||Company should portray these symbols more aggressively in its ads as they are brand-specific symbols||The fan-following of Coca-Cola will increase as loyal customers will spread more words of mouth publicity|
|shape||The curvaceous bottle, the cursive English style of writing ‘Coca-Cola’||This cursive style of Logo-writing has become a signature-shot of Coke. Company should advertise this shape more||The unusual style of Coke’s Logo writing will draw the attention of more customers|
|terminology||Coca-Cola taglines||Brand-specific, should be more catchy and marketed more & more||The catchphrases are the life-and-blood of every brand and thus, if they are thought wisely, can contribute enormously to product sales|
|trademarks||Coca-Cola®, “Open Happiness” and the contour bottle are registered trademarks of Coke||Use of Trademarks in product advertising||Use of Trademarks in product advertising gives more authenticity to ads|
|use of indigenous design/s||Contour bottles and curvaceous design of bottles, easy to hold coke Cans||Brand-specific, needs to be marketed smartly||Smart use of these indigenous product designs account for more recognition|
|labelling, and packaging||Coca-Cola inscribed on the glass bottle and the drink packaged in an easy to hold can or bottle||Labels are the products identity and should be advertised in bold colours for educated customers packaging should be very eye-catching||An attractive packaging always result in heavy sales for any brand|
- Buyer behaviour
4Ps of marketing always play a vital role in devising a marketing strategy for any company. They also govern the consumer preferences in many cases. Here is an analysis of the relationship of marketing mix and buyer behaviour:
|buyer behaviour||marketing mix|
identify implications for marketing strategiesThe Coca-Cola Company is a firm known for its non-alcoholic beverages and syrups. Its most famous product is Coca-Cola which is a carbonated drink. It has many variants in the market like Diet Coke, Vanilla Coke, Coca-Cola Zero and Coca-Cola CherryProduct
The marketing strategies which cater to product
Diversification and product line extension will lead to more wide-spread reach of Coke to various age-groups and classes of New Zealand which will in turn account for huge profits.A can of Coke costs 1.50 NZ dollars in NZ which is considered quite economical according to NZ’s life-standards.Price
Pricing strategy which focuses on low prices is often devised to capture more customers and market share. Since Coke is a household name, such low price will result in heavy sales.Coca-Cola is usually available in every superstores or provisional stores across every towns and Metropolitan cities of New Zealand. Its availability is one aspect which keeps it ahead of its competitorsPlaceStrategies related to distribution of Coca-Cola products across the length and b breadth of the country will cover more untouched suburbs of NZ.Coca-Cola being an MNC spends huge dollars on its advertisement and promotional campaigns. Be it any country, Coca-Cola never hesitates in promoting itself there.
PromotionSuch bold promotional tactics will increase the face-value of brand Coca-Cola even further and enhanced recognition will account for more profit.
Segmentation holds the key for a successful marketing campaign. Effective segmentation strategies help a company target its customer group more specifically. Devise a marketing plan for each customer segments and you’ll be successful is what many marketing expert claim. Following is an analysis of segmentation strategies and buying behaviour of the consumers:
|buyer behaviour||market segmentation|
identify implications for marketing strategiesConsumer perception about the coca-cola products is always of excellent nature. Coca-Cola itself has maintained the quality of its service throughout its formative years. At the same time, it has targeted every person from every imaginable level for superior coverage of its products.People from every walk of
life and every income group and class – Lower middle class to upper class, youth and working professional of every age-group, even children, every nationality, every ethnic and religious group, Maori population and White New Zealanders and Asian Minority.People from every walk of life have contributed immensely to Coca-Cola Success worldwide. Segmentation strategies of Coke have been extremely successful in crafting a niche for itself in consumer’s mind and the beverages market all over the world. It has become one of the most successful and renowned MNCs of the world owing to its brilliant marketing campaigns.
The importance of marketing communication techniques can’t be overruled in today’s competitive world. Consumer decision making process and their buying behaviour are immensely influenced by them. Following is an analysis regarding the relationship between Marketing communication methods and consumer buying behaviour:
|buyer decision processes|
marketing communications messagesidentify implications for marketing strategiesA consumer buys the coke products simply to satisfy its taste-buds. However somewhere back in his mind, he takes pride in the fact that he is consuming one of the world’s most advertised drinks. But most of all, he does the cost-analysis of having a coke product before making the purchase of it.Buying behaviour of a consumer is governed by the brand image of a product, its availability in the market, price and if consumable, its taste. Coca-Cola has made sure in all these years that its products fulfil all the expectation of the customers and that is why they are a huge success now.Marketing communication messages include advertisements – be it print ads, TV ads or billboard ads; PR campaigns, social awareness campaigns etc. Coke has a huge promotional budget at its disposal and thus advertises its products heavily in every international market.Implications of Coke’s marketing strategies regarding influencing and convincing a prospective customer to buy its products are always positive. Coke over the years has emerged as one of the most carbonated-drinks selling brand in the world and now cementing its legacy further by deploying new strategies for key emerging markets in Africa and Asia.
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