Integrated Strategic Marketing Plan: Section 4 Part 1: A & B

Integrated Strategic Marketing Plan: Section Four

Current Consumer Characteristics

Coca-cola is a globally recognized brand that reaches a variety of consumer types.  Because Coca-cola focuses on marketing convenience products, which are products that are inexpensive, readily available, and provide minimal differentiation between similar offerings, they appeal to a wide swath of consumers.  Described in the article titled “Marketing Strategy of Coca-Cola” by Hitesh Bhasin, he clearly defines Coca-cola consumer characteristics “Coca cola targets a mass market. And the customer expectation is low price, great taste, convenience & accessibility and various options to choose from” (Bhasin, para. 30, 2017).  Further, in another article by Bhasin titled “Mass Market” he details that reaching mass markets are one of the core strategies of companies like Coca-cola that appeal to all consumer types “A mass market is a general population which can be targeted at wide for the sales and marketing of a product (Bhasin, para. 1, 2017).  Essentially, due to the nature of Coca-cola products, Coca-cola consumers can be defined as the general population and their characteristics include an expectation of global availability, streamlined offerings (meaning that products do not change based on geographic location), and low prices.  Additionally, with the recent shift in consumer preferences in both the food and beverage industries relating to healthier products, there is an expectation that Coca-cola should offer alternative options.  In response to this new characteristic of consumers, Coca-cola has started to produce sparkling waters and reduced calorie drinks to meet this demand.  All in all, current consumer characteristics are in-line with the convenience product Coca-cola offers and the mass market they serve (Bhadin, 2017).  

Demographics

Touched on previously, Coca-cola appeals to a vast number of consumers in many global markets.  Specifically in the United States, the article titled “Coca-Cola Consumer Insights” articulates the common Coca-cola consumer “A Coca-Cola consumer is generally median income, Caucasian, and senior age. Coca-Cola consumers are more likely to purchase Coca-Cola during larger pantry stocking trips” (“Coca-Cola Consumer Insights,” para. 1, n.d.).  In fact, a graphical representation found in this article provides a top level view of Coca-cola demographics.

From this data, we can determine that consumers range from all levels of income, with a majority falling into the $60k - $80k range.  Additionally, it was interesting to find that men purchase Coca-cola products at a much higher rate than women.  However, due to the fact that Coca-cola products are low priced and readily available in many different channels (gas stations, grocery stores, etc.) they appeal to all demographic types.  This information highlights that Coca-cola, as a brand, is far-reaching (“Coca-Cola Consumer Insights,” n.d.).

References

Bhasin, H. (2017, April 14). Marketing Strategy of Coca-Cola. Retrieved April 24, 2017, from

http://www.marketing91.com/marketing-strategy-of-coca-cola/

Bhasin, H. (2017, April 14). Mass Market. Retrieved April 24, 2017, from

http://www.marketing91.com/mass-market/

Coca-Cola Consumer Insights. (n.d.). Retrieved April 24, 2017, from

http://infoscout.co/brand/cocacola?ab=b&utm_expid=75303912-24.l6L7NHOEQze-M9P-hvusJw.1&utm_referrer=https%3A%2F%2Fwww.google.com%2F