1.2. Product Differentiation This refers to differentiation that aspires to make a product more attractive by contrasting its unique qualities with other competing products (Investopedia, 2015:1), as in the case of Coca-Cola, other soft drink brands. Successfully adopting this strategy would have a company gaining a competitive advantage, as the customer would then view the product as unique or superior. This is what coca cola has managed to do, and has managed to do it on a scale that is globally unique, and globally recognized. Much proof would indicate that Coca-Cola has definitely chosen a differentiation strategy since its early days.
- PepsiCo name is very strong internationally and of course in the internal market. - PepsiCo has excellent work environment and very good opportunity for attractive more consumers. - As PepsiCo believe that advertising is very high importance topic, it has budgeted sufficient amount for advertising. - The distribution channel is available very vastly. - Motivation and Innovation for its employees.
If you can't compete on good prices, you'll need innovative products and ideas to make your business stand out from the crowd of competition. Coca-Cola have had the Coke product for so long that they need to express their innovation through marketing because they cannot change the way their products are produced, and potential customers will have no drive to buy from them if there is no element of differentiation from competitors. Coca-Cola has really done a good job recently with their campaigns. They have done an incredible job at connecting with their audience through understanding their motivations and the nostalgic feelings behind craving a can or bottle of Coke. Another impressive aspect of recent campaigns is the attention that Coke puts into making each message global.
Coca cola uses advertising as the main promotional strategy to attract customers and retain them. They use aggressive advertising in order to cater to huge consumer market. Below are the different types of advertising ways that Coke is
Coca-Cola is one of the world’s top beverage company that has thrived for many years. Coca-Cola created the top leading carbonated beverage and named it Coke. With the success of Coke, Coca-Cola decided it was time to make more flavors and offer new products. Coca-Cola has also expanded its products to bottled water and sparkling water when the demand consistently increased. Their creation of Dasani bottled water has improved the company’s profit level significantly.
Part avails the brand to define the felicitous products for categorical client group; Coca Cola doesn’t object a categorical segment but acclimates its marketing strategy by developing incipient products Marketing mix Coca Cola is a brand with the highest brand equity. No doubt it has gone through the ups and downs of business concern to reach that position. The marketing commix of Coca Cola has been transmuting over time with more and more merchandise being integrated
Thumbs up, Maaza and Kinley are consider as the star product of the Coca Cola Company. This is because the refreshment sold to customers are mainly from India and United Arab Emirates, which contributes the most cash to the company as people consider this as their first choice of carbonated soft drink. The Coca Cola company believes that these three beverages have high growth and a market share. Cash Cows: A product that generates more money than they require are considered as a cash cow. This is because the product is known as the leaders of an organisation in the marketplace and company take out little fund when investing .
Price is part of the marketing mix which people use as central variable while developing a marketing plan. Pricing plays important role marketing mix. Both price and pricing strategy are crucial in marketing process. Mainly Coca-Cola & Pepsi face competition from each other but from other companies in CSD markets as well, they are both dominating the CSD market and existing situation is called oligopoly. This means that they have more pricing power compared to perfect market.
When people speak of "brand equity" they mean the public 's valuation of a brand. Brand equity is associated with wide recognition, customer loyalty, and the market share enjoyed by the branded product or service. Wide familiarity, strong loyalty, and a dominant share tend in the long run to be the consequences of consistently favorable performance by the owner of the brand. A very strong bond equity of long standing may also result in that brand being used as the name of an entire category. Thus people talk of "hoovering," "cola" is a generic for a soft drink, and people say, "Let me get you a Xerox of that" even when the copier used is of another brand.
Promotions • Advertisement • Direct marketing • Interactive marketing • Sales promotion • Publicity and public relations • Personal selling • Public social responsibility Advertisement Advertising is defined as any paid form of non personal communication about an organization, product, service, or idea by an identified sponsor. Coca cola uses the concept of aggressive advertising to promote its products. Thus advertising is the most important marketing tool for the company as it has to cater mass consumer markets. They aminly do national asvertisin. Company introduces different themes and concepts to sell their product and advertises mainly in electronic media and out of home advertising.