Ryan - Sections Revised

Integrated Strategic Marketing Plan: Section One

(D) Distribution

Coca-Cola’s products come in concentrated form directly from our manufacturing and distribution centers. The concentrate is then sold to licensed Coca-Cola bottling companies around the world (Coca-Cola, n.d.). All the bottling companies have contracts directly with Coca-Cola and produce the final product that we see in stores, in the form of cans and bottles, and fountain machines within various distribution channels. Coca-Cola will now be able to offer the new Coca-Cola Plus to the bottling companies, which will then be distributed through bottlers distribution channels. In addition to selling the concentrate to licensed bottle companies, we will also be offering this new product to major restaurants and food chains across the globe. Offering this new product line will allow us to stay competitive in the distribution industry and give us new opportunities to help gain more of the overall market share.

(E) Product Life Cycle

Product life cycle has four phases

1.     Introduction

2.     Growth

3.     Maturity

4.     Decline

Coca-Cola is a dominate player in the United States of America, Europe, Asia, and Africa; but some of the regions are currently is different phases of the cycle. For example, Coca-Cola is currently in their maturity stage within the United States and Europe (Murray, 2016). These regions are great markets for the company to introduce the new Coca-Cola Plus product line; due to the strong brand loyalty that’s already been established with our company. Asia, on the other hand, is currently in the growth phase. This might not be the best market for us to introduce our new Coca-Cola Plus product line, due to the simple fact that we are still building brand loyalty and market share. By introducing our new product line in locations that are currently in their maturity phase, we can stay competitive within our market by differentiating ourselves from competitors. Ultimately, this will allow us to stay competitive, increase profits, expand our market share, capitalize on a new product niche, and reduce the risk of going into the decline phase.

References

Coca-Cola. (n.d.). Our Company. Retrieved from Coca-Cola: http://www.coca-colacompany.com/our-company/the-coca-cola-system

Murray, M. (2016, July 22). Product Life Cycle. Retrieved from The Balance: https://www.thebalance.com/product-life-cycle-2221048

Integrated Strategic Marketing Plan: Section Two

(G) Corporate 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 (The Coca-Cola Company, n.d.). Coca-Cola offers a great work environment, where people are inspired to be the best they can be. We offer to the world a unique portfolio of quality beverages that satisfies people’s desires and needs. Our partnerships ensure a winning network of customers and suppliers that create one of a kind value. Our vision is to make a difference in the world we live in, by helping build and support sustainable communities, maximize long-term return to shareholders, and maintain a highly effective and fast-moving organization.

(H) Corporate Mission

Our Road-map 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 (The Coca-Cola Company, n.d.).

• To refresh the world...
• To inspire moments of optimism and happiness...
• To create value and make a difference.

(I) Promotional Strategy

Coke will be retiring their current slogan of seven years “Open Happiness.” A new global campaign called "Taste the Feeling" will put the product at the center of every ad as Coke seeks to win over more drinkers in the struggling soda category. Coca-Cola just recently announced that for the first time, all Coke Trademark brands will be united in one global creative campaign: Taste the Feeling (Moye, 2016).” This strategy focuses on the iconic appeal of the world’s number one beverage brand to Coca-Cola Light/Diet Coca-Cola, Coca-Cola Zero, Coca-Cola Life, and the all new Coca-Cola Plus. Through this promotional strategy, we can show our commitment to choose, offering consumers whichever Coca-Cola suits their taste, lifestyle and diet – with or without calories, with or without caffeine, and with or without healthier alternatives. We are reinforcing that Coca-Cola is one brand with different variants for everyone, all of which share the same values and visual iconography (Moye, 2016).

References

Moye, J. (2016, January 19). ‘One Brand’ Strategy, New Global Campaign Unite Coca-Cola Trademark. Retrieved from Coca-Cola: http://www.coca-colacompany.com/stories/taste-the-feeling-launch

The Coca-Cola Company. (n.d.). Mission, Vision & Values . Retrieved from Coca-Cola: http://www.coca-colacompany.com/our-company/mission-vision-values

Intergrated Strategic Marketing Plan: Section Three

(G) Changes in the Marketplace

Changing demographics and purchasing behaviors make it crucial for beverage industry leaders to understand and capitalize on key consumer insights that identify growing trends (PR Newswire, 2017). An opportunity we are starting to see for companies is creating more healthy beverages that are packaged in fresh and eco-friendly containers. These new changes will include packaging that will provide appropriate product protection that aligns with enhanced brand values for health and environmental responsibility. With Millennials holding huge buying power in today’s market, beverage companies are gearing their products to be more real and made with less processed ingredients. Beverage companies are removing preservatives and artificial ingredients and replacing them with natural and nutrient-dense ingredients. Consumers are increasingly looking to beverages to play new roles in their diets and health routines. Drinkable breakfasts and the "snackification" of beverages are fueled by consumer interest in nutrition and performance drinks that act as meal replacements and guilt-free snacks (PR Newswire, 2017). That said, beverage companies should expect consumers in 2017 to demand beverages that work harder, whether for refreshment, satiety, energy, immunity boosting, sleep aid, blood sugar management, or a host of functional benefits now associated with these multifunctional power beverages (PR Newswire, 2017).

References 

PR Newswire. (2017, January 2). Four Key Beverage Industry Trends for 2017 are Changing What Consumers Buy. Retrieved from PR Newswire.

Integrated Strategic Marketing Plan: Section Four

(2: A)Proposed Primary Target Audience

Coca-Cola doesn’t target to a specific segment but adapts its marketing strategy by developing new products (Bhasin, 2017). Coca-Cola focuses most of their marketing strategies towards the younger generations. The primary target audience for Coca-Cola products is geared towards consumers who are between 13-24 years of age. Half of Americans aged 18 to 34 say they drink regular Cola. This age demographic and men, in general, are also slightly more likely to consume soda than their counterparts (Brandon Gaille, 2015). Coca-Cola has designed their products to satisfy their various consumer’s needs. By doing so, the company can provide drinks for many different target markets: ages, sexes, etc. In a world where people are trying to live healthier lives, Coca-Cola recognized this need and has begun to produce different beverages that are satisfying to these consumers as well.

Strategic Target Audience

(2: B)Proposed Secondary Target Audience

The secondary target audience Coca-Cola focuses on are adults 40 years of age and up. For example, Diet Coca-Cola targets adults, between 30-50 who are health conscious but still looking for a great taste (The Coca-Cola Company, 2016). This is a great product for older people looking to lower their sugar intake, but still, enjoy the great taste of Coca-Cola. Seeing that Coca-Cola caters their products to all demographics, data for their secondary target audience is limited. Through diversification of product offerings and understanding their target audience, Coca-Cola has been very successful in catering to a market of endless wants and needs.

References

Bhasin, H. (2017, April 14). Marketing strategy of Coca cola – Coca cola marketing strategy. Retrieved from Marketing 91: http://www.marketing91.com/marketing-strategy-of-coca-cola/

Brandon Gaille. (2015, March 13). 39 Interesting Coca Cola Demographics. Retrieved from Brandon Gaille: http://brandongaille.com/39-interesting-coca-cola-demographics/

The Coca-Cola Company. (2016, September 20). Responsible Marketing. Retrieved from Coca Cola: http://www.coca-colacompany.com/stories/responsible-marketing

Integrated Strategic Marketing Plan: Section Five

(3:D)Personal Selling

Coca Cola is a global company and caters to the diverse population of people who live within it. The company has many salespeople who sell their products and manages their accounts. For example, Coca Cola has sales people who mainly take care of orders. Company Order Takers, make sure that their accounts have a steady supply of products at all times. In addition, Order Takers make sure their retail accounts have Coca-Cola marketing displays, and answer incoming account phone calls. Coca Cola also has salespeople who oversee in the process of landing new retail accounts. These salespeople are responsible for generating leads, providing information to prospects, persuading customers and closing sales. For each location across the globe, Coca-Cola trains their salespeople differently. Through these personal selling strategies, Coca-Cola has been able to establish one of the strongest sales teams in the world. For example, in India, Coca-Cola added a bit of local flavor in their advertisements. Coca-Cola will collaborate with local stars like Daler Mehndi, promote at important festivals, sponsor professionals cricket players, and advertise in the National Language (Hindi).

(3:E)Direct Marketing

Direct marketing efforts by Coca Cola are innumerable. Coca-Cola uses direct marketing in many ways. First, the company partners with various restaurants, movie theaters, and sports venues to carry its products. This way, when a customer orders a drink, the only brand they are offered is Coca-Cola, which forces them to buy a drink from Coca-Cola. This strategy forces out other competition, and keeps the restaurants, or other businesses, purchasing Coca-Cola products over and over again. Coca-Cola also uses mobile graphics and texts to appeal to markets on a more personal level. Finally, Coca-Cola also sponsors various sporting events in India and around the world in events like Cricket, Football, and Motor Racing.