Coca Cola Marketing Mix
• This essay will define what marketing is and how companies such as Coca-Cola have used various different marketing strategies to maintain success in the business markets well before and into the 21st Century.
• These marketing concepts examined in this essay are as follows the marketing mix 4P’s, branding. This essay will also discuss the importance of adopting these marketing concepts for other companies to use to help their businesses perform well.
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When dealing with the product other information such as the other uses that the product can be used for i.e., will it have insurance, does installation come with the product, what colors will the product be offered in? For example, the Coca Cola company would market its Classic Coca-Cola to beverage consumers, and
• Price- The price determines how much a customer is willing to pay for a product. It also shows buyer behavior- such as how much would a buyer spend on a certain product, and again this would be based on the perception of “is this product worth the amount of money I’m spending”. For example, from 1886 until 1956 Coca-Cola classic was sold for 5 cents until the price went up in 1956 to 6 cent, though some customers were upset with the price change, it did not slow down the amount of consumer purchasers of the drink because they believed the drink was still of significant value.
• Promotion-which essentially is the communication strategy. Communication can be used in form of brand promotions, Public relations, and personal selling of a product etc. I.E. Coca colas advertising is considered to be one of Coca Colas most expensive avenues. An article published in the Business insider stated that Coca-Cola spends more money on advertising that Microsoft and …show more content…
The most popular technique is the marketing mix. The 4P’s control the way a company’s product is seen from the customers’ perspective. One of the most important elements of a business is the way a company markets its product. That helps the consumer differentiates one company from another, whether it’s the product the consumer buys, the price one is offering for the product, (which directly correlates with the value of the product), where the company has the product available online or in a store, and how the product will be advertised. When using promotion that relates to advertising your product, how the product would be communicated, and what form of outlets such as radio, television, or other mediums would the product be made available. The traditional marketing mix is vitally important to allowing a company to understand how to build and sustain value for consumers. The use of products help with satisfying customers needs, price deals with charging the right amount for those products, promotion- getting people to become aware of them and finally place- having a location for the