...History • First coca-cola created by an Atlanta pharmacist in 1886 combining caramel-colored liquid and carbonated water o Created as a response to the Prohibition as a nonalcoholic version of drinks o 5 cents per glass • Logo created by the bookkeeper at the pharmacy • Average of 1.7 billion Coke-owned beverages consumed today • Mission Statement: o To refresh the world o To inspire moments of optimism and happiness o To create value and make a difference • Expanded product lines to include alternative drinks but Coca-Cola remains its main product Demographic segmentation is based on variables such as age, gender, ethnicity, education, occupation, income, and family status. • “Real men” segment. While women who want to drop a size enjoy diet sodas, real men don’t want to be caught with a glass of “girly” diet drink. In response to that, Coca-Cola launched Coke Zero to cater to men. The successful introduction relied on advertising featuring such masculine images as James Bond to target men through its packaging, promotions and image. By appealing to men between the ages of 18 to 34 years who wanted to drink a low –calorie cola but would prefer not be seen buying or sipping Diet Coke, Coca-Cola increases its sales of Coke-branded products by one –third. Psychographic Segmentation Coca-cola was able to keep up with their sales by sneaking out what their consumers want. They used psychographic segmentation strategy to categorize the cola beverage. For instance...
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...role which helps Coca-Cola to introduce its product to customer and make them buy through this process they capture value from customer (Kotler- et- al, 2013). To understand the Coca-Cola’s product and its value perception, here is the STP analysis 3.2.1 Segmentation Strategy The competitive market and the changed demands of consumer have made Coca-Cola to satisfy their needs by improving and changing its product. For these reason Coca – cola has been successful to attract the customers and enhance its sales without interrupting other company. Such attempts taken by this company is to introduce new product based on changed demand such are to introduce Diet Coke, Caffeine free Coke. There are multi segmentation strategy which is used by Coca Cola. The marketing mix is used for the every segmentation of Coca cola which has various products as estimated 400 and product mix of 3,500. Geographic segmentation There are different users of Coca Cola such as various ethnic groups, lifestyles, age groups, sexes etc. Examples: Oasis- Juice with various flavour for the people aged between 20-30 and this is served in Ireland and Britian. Coca Cola diet, Coca Cola zero etc. for health concerned people. Climate- the product of Coca Cola is used more in summer than in winter and the sales increases in this time. Demographic segmentation Coca cola targets customer aged between 15 – 25 and more than 40 and they are male and female both. Income- Coca cola serves product...
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...Segmentation and Target Marketing Andrew Swanson MKT/571 December 21, 2015 Steven Kraus Segmentation and Target Market Paper “Marketing segmentation and targeting are particularly important for finding customers that are the best match for a business’s products and services” (Suttle, 2014, ¶ 2) This statement speaks directly to the ideal scenario every company hopes to find; one where it’s strengths as a product and service provider are best matched with the client and consumer base most in need of these outputs. When reviewing soft drinks giant Coca Cola, we find a company that specializes in diversity; dominating the world’s beverage market with a wide variety of product choices specifically targeted to the most opportune consumers. The paper that follows will outline several critical market segments used by the company including overviews on demographic, psychographic, geographic and behavioral characteristics of the Coca-Cola Company. Coca Cola’s target markets and the company’s plans for targeting these markets will also be discussed, and a proposed positioning statement for the company will also be introduced. Company Overview Founded in 1886, The Coca-Cola Company is headquartered in Atlanta GA, and “is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands.” (Coca-Cola Company, 2015). Coca-Cola’s mission focuses on consistently transforming its product line to stay in step...
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...Review 4 2.1 Channel Integration Grid 4 2.2 Channel Effectiveness Critique 5 2.3 Proposed Channel Strategy Adjustments 5 3.0 Target Segmentation 6 3.1 Geographic Segmentation 6 3.2 Demographic Segmentation 6 3.3 Psychographic Segmentation 6 3.4 Behaviouristic Segmentation 7 3.5 Benefit Segmentation 7 3.6 Target Market Description Statement 7 4.0 Competitor Profile 9 4.1 Competitive Framework 9 4.2 Competitor Analysis – Offerings and Communication 9 4.3 Completive Advantage 10 5 Campaign Development 11 5.1 Competitive Consumer Benefit Statement 11 5.2 Message Strategy Statement 11 5.3 Message Strategy Approach 11 6.0 Media Strategy and Testing 12 6.1 Company Contacts 12 6.2 Customer Contacts 12 6.3 Intrinsic Contacts 12 6.4 Unexpected Contact 13 7.0 Reference 14 1.0 Message Review 1.1 Current Message Strategy Coca-Cola Company, the giant in world-wild beverages market, mainly uses the concept planned messages. More details, they use the advertising and public relationship spread their brand image, as well as the related information. In 2011, they built strong momentum toward their 2020 goal of doubling their business over the course of this decade. Since then, “Inspire creativity, passion, optimism and fun” is their main tagline (Coca-Cola, 2011.). In addition, they did many activities to help coordinated with it, they have made “share a coke” summer campaign to help board the image...
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...The concept of market segmentation. The conception of market segmentation is a marketing approach that consists of dividing a wide target market into subcategories of consumers, who share common needs, by planning and applying strategies to target their needs and wants to utilize media channels and other promotional elements that facilitate reaching the focused customers. Additionally, market segments allow businesses to design different marketing approaches to target them. However, reaching a market by recommending different, desirable, and competing products, that is in the outlooks of the target consumers. In which, buyers behaviors in numerous markets diverge in their wants or needs, incomes, localities, purchasing attitude, and buying habits. Within market segmentation, corporations break up large, diverse markets into smaller sectors that can be influenced more effectively with products and services that are compatible their individual needs. Furthermore, a marketer has to point various segmentation variables, to obtain the safest technique to analyze the targeted market structure; where, these market segmentations are classified in four different variables that are geographic, demographic, psychographic, and behavioral (Kotler & Armstrong, 2010, p 191). An example is the Coca Cola Company; this company had expanded its business worldwide servicing over 200 countries and with a total of $35 billion in revenues annually (10-k: The Coca Cola Company). In fact...
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...Accounting 3230 Fall 2014 Part I: Leonard Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the years 20X2 and 20X3. | 20X2 | 20X3 | Projected benefit obligation, January 1 | $ 600,000 | | Plan Assets(fair value and market-related value), January 1 | 410,000 | | Pension Asset/Liability, January 1 | 190,000 CR. | | Prior Service Cost, January 1 | 160,000 | | Service cost | 40,000 | $ 59,000 | Settlement rate | 10% | 10% | Expected rate of return | 10% | 10% | Actual return on plan assets | 36,000 | 61,000 | Amortization of prior service cost | 70,000 | 50,000 | Annual Contributions | 97,000 | 81,000 | Benefits paid to retirees | 31,500 | 54,000 | Increase in projected benefit obligation due to changes in actuarial assumptions | 87,000 | 0 | Accumulated benefit obligation at December 31 | 721,800 | 789,000 | Average service life of all employees | | 20 years | Vested benefit obligation at December 31 | | 464,000 | (a) Prepare a pension worksheet presenting both years 20X2 and 20X3 and accompanying computations and amortization of the loss (20X3) using the corridor approach. (b) Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year. (c) For 20X3, indicate the pension amounts reported in the financial statements. Part II: The accounting records of Scotty inc show the following data for 20X2....
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... | |Mohamed Reza Carrim | |09/04/2013 | | | Question 1: Theoretical elements of market segmentation, market positioning and market targeting Market Segmentation The purpose for segmenting a market is to allow your marketing/sales program to focus on the subset of prospects that are "most likely" to purchase you’re offering. If done properly, this will help to insure the highest return for your marketing/sales expenditures. Depending on whether you are selling your offering to individual consumers or a business, there are definite differences in what you will consider when defining market segments. When the focus is on segmented markets, the company's marketing can better match the needs of that group. Market segmentation allows firms to focus their resources more effectively, and with a greater chance of success. Companies who segment their markets match their strengths and offerings to the groups of customers most likely to respond to them. Differentiate your products and services to meet your customer needs and desires. Design or redesign new...
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...would be selecting six different types of products from different organisations and I would also be talking about my choosing products segmentations. Segmentation refers to a process of dividing a large unit into various small units which have more or less similar or related characteristics. Market segmentation is a marketing concept which divides the complete market set up into smaller subgroups involving consumers with a similar taste, demand and preference. One market segment is totally distinct from the other segment. A market segment contains of individuals who think on the same lines and have similar interests. The individuals from the same segment respond in a similar way to the fluctuations in the market. Basis of Market Segmentation Gender The marketers divide the market into smaller segments based on gender. Both men and women have different interests and preferences, and thus the need for segmentation. Organizations need to have different marketing strategies for men which would not work in case of females. A woman would not purchase a product meant for males. The segmentation of the market to include gender is important in many industries like cosmetics, footwear, jewellery and apparel industries. Age Group Division on the basis of age group of the target audience is also one of the ways of market segmentation. The products and marketing strategies for teenagers would be different than kids. Age group (0 - 10 years) - Toys, Nappies, Baby...
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...Aspects of consumer behavior to emphasize in marketing. Marketing concentrates on several aspects of consumer behavior in order to promote a product or service. A consumer’s motivation is one aspect that Coca-Cola should emphasize to increase product sales. Their motivation, such as a hunger or thirst, will be the deciding factor to drive the consumer to make a purchase. In past advertising campaigns Coca-Cola has aligned the product with thirst quenching or refreshment. This type of marketing will focus on the consumer’s immediate need to remedy their thirst. Not only does Coca-Cola need to emphasize the consumer’s motivation but they must take into consideration the customer’s perception. Perception would be the process by which the customer will select, organize, and interpret the information to act on the motivation (Kotler & Keller, 2012). People are stimulated from the advertisements that will address a current need or that they anticipate. The product advertisement must focus on a remedy of the current yearning that the consumer is experiencing. An advertisement that is focusing on quenching the thirst will address and motive the consumer to purchase the product to remedy their need. Coca-Cola has to not only address a customer’s current need but will need to consider the customer’s selective distortion and selective retention. Selective distortion is a person’s way of associating past experiences or information with a brand or product. Selective retention...
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...Conclusion 8 References 9 Introduction This discusses the details of marketing principles and this assignment has considered Coca cola, a company which is in the soft drinks industry as the base. This includes evaluation of benefits and costs of a company being market oriented and the deviation from its core activities. Further this discusses the micro and macro factors that affect Coca cola and how the marketing decisions should be taken considering these factors. The segmentation aspect which is adopted in Coca cola is discussed here. And effective strategies adopted in a company lead the company to achieve competitive advantage is been highlighted in this assignment. Further Targeting strategies, buyer behaviours that impact Coca cola is been discussed along with proposition for new positioning of the beverages of Coca cola. The distribution also plays a major part in a company’s marketing activities. And the strategies used by Coca cola are discussed here with the setting of prices with the aim of achieving objectives and the promotional activities adopted are discussed here. Additional elements of marketing mix, and the different strategies that should be adopted when selling to businesses rather than customers and the strategies that are used in international marketing are discussed in this assignment. About Coca Cola The company Coca Cola started in 1886, in Atlanta and this drink was initially made as a trial and to fulfill the curiosity of a pharmacist in Atlanta...
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...Message Strategy Adjustment 3 2.0 Channel Review 4 2.1 Channel Integration Grid 4 2.2 Channel Effectiveness Critique 5 2.3 Proposed Channel Strategy Adjustments 5 3.0 Target Segmentation 6 3.1 Geographic Segmentation 6 3.2 Demographic Segmentation 6 3.3 Psychographic Segmentation 6 3.4 Behaviouristic Segmentation 7 3.5 Benefit Segmentation 7 3.6 Target Market Description Statement 7 4.0 Competitor Profile 9 4.1 Competitive Framework 9 4.2 Competitor Analysis – Offerings and Communication 9 4.3 Completive Advantage 10 5 Campaign Development 11 5.1 Competitive Consumer Benefit Statement 11 5.2 Message Strategy Statement 11 5.3 Message Strategy Approach 11 6.0 Media Strategy and Testing 12 6.1 Company Contacts 12 6.2 Customer Contacts 12 6.3 Intrinsic Contacts 12 6.4 Unexpected Contact 13 7.0 Reference 14 1.0 Message Review 1.1 Current Message Strategy Coca-Cola Company, the giant in world-wild beverages market, mainly uses the concept planned messages. More details, they use the advertising and public relationship spread their brand image, as well as the related information. In 2011, they built strong momentum toward their 2020 goal of doubling their business over the course of this decade. Since then, “Inspire creativity, passion, optimism and fun” is their main tagline (Coca-Cola, 2011.). In addition, they did many activities to help coordinated with it, they have made “share a coke” summer campaign to help board the image. In the traditional one-way communication...
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...| Contents Executive Summary 1 1. Introduction 2 2. Market Analysis 2 2.1 Market segmentation 2 2.2 Market needs 3 2.3 Segmentation potential 3 2.4 Analysis of current and potential competitors 4 2.5 PESTEL Analysis 5 2.5.1 Political analysis 5 2.5.2 Economic analysis 6 2.5.3 Social analysis 6 2.5.4 Technological analysis 6 2.5.5 Environment analysis 6 2.5.6 Legal analysis 6 3. Market Plan 7 3.1 7P strategy 7 3.1.1 Product 7 3.1.2 Promotion 7 3.1.3 Price 7 3.1.4 Place 8 3.1.5 People 8 3.1.6 Process 8 3.1.7 Physical Environment 8 4. Market Feasibility (Ansoff’s Matrix applying) 9 4.1 Market Development (Opportunity) 9 4.2 Market Penetration 10 4.3 Diversity and Product development (threats) 10 Conclusion 11 Executive Summary The new product of Coco-Cola differs from the existing products diet coke. The opportunity of these products is it unique and sustainable market share. To different from both the existing products and competitors, the new product is low carioles and with diversity fruit flavour. The target market is the young and healthy generation. The diet coke already has the sustainable market with royal customers, so it is easy for this type of customers to accept the new product. The sparkling drinks takes the most percentage of the whole soft drink market in Coco-Cola Company’s report, so this may also attract the customers from other segmentation even from the competitors. Some people may care about the obesity...
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...The Coca Cola Company: Marketing Strategy Contents Introduction and Summary of the Company ............................................................................................ 3 Environmental Analysis ........................................................................................................................... 3 Political ............................................................................................................................................... 4 Economic............................................................................................................................................. 4 Social................................................................................................................................................... 4 Technological ...................................................................................................................................... 5 Customer analysis – STP analysis ............................................................................................................. 5 Segmentation ...................................................................................................................................... 6 Targeting ............................................................................................................................................. 6 Positioning .............................................................................
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...New Launch Marketing Plan III Executive Summary Coca-Cola continues to be an industry leader in offering and reinventing some of its core drink products in new global markets. The company currently has captured over 50% of the soft drink market and seeks to obtain 55% or better in the next three years. With the introduction of its latest product, millions of new customers can be reached. The New Product Launch Marketing Team is prepared to introduce the “Snatch a Pack” in both the domestic and global markets; with a great push on its Coca-Cola International India’s market. An emphasis is placed on Coca-Cola International India because it is one of the most populous countries in the world and is receptive to international trade. The product is cost-effective, easy to use, and very flexible. Launching the product, “Snatch a Pack” will help the company expand its customer base while increasing revenues by an estimated $2.5 billion. An integrated communication marketing plan will be developed to ensure that market segmentations are identified and communication channels are established. Pricing strategies for the Snatch a Pack will be defined and distribution plans established. An integrated communications marketing plan will be designed, three year objectives defined, and a description of the milestones to be implemented presented for the new product lunch. In addition Coca-Cola New Product Launch Team will create a budget to Market the “Snatch a Pack” and establish an evaluation...
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...Coca-Cola is a carbonated soft drink. It is produced by The Coca-Cola Company of Atlanta, Georgia, and is often referred to simply as Coke. Coca-Cola has a verity of different brand including, diet coke , Fanta, Sprite, Coca Cola Zero, Vitamin water, PowerAde, Minute Maid, and ext. Along with all these different brands that Coke carries it also has different products that are made to target different market segments. Diet Coke is one of them that was made to targeted women and fall under gender segmentation. Coke Zero is another which was made to target younger men and fall under both the gender and age segmentation. Diet Coke Plus was made to targeted those that were health conscious and it's a lifestyle psycho-segmentation. Coca-Cola Black was made to targeted older men that have higher income this falls under the gender and income segmentation. In the coke industry there are products that are going to bring new customers rather than keeping the old. An example of this is diet coke plus will lose customers to as coke zero because it has the same benefits but reached the target market intended for diet coke plus. Another example is coca-cola classic because it would suffer age discrimination and coke zero has the exact taste as the original. All of the other products have a different target market that is going to keep them retaining customers. Promoters of Coke Zero have used hidden camera’s as a way reach target market. The hidden-camera videos that the promoters used...
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