What Is the Role of Strategic Marketing in an Organization? Discuss the Role of Strategic Marketing at Coke After 2000.
Strategic Marketing can help you make sure you choose the right products and services that your consumers need. A marketing strategy looks at all aspects of selling activities, helps each strategy support the next and makes sure all departments involved are aware of what the others are doing.
Strategic Marketing is a way in which the firm capitalizes its current and potential strength to provide better value to its customers.
Coke revamped its entire Marketing Strategy post 2000 to counter its declining popularity and counter increasing competition.
Cokes New Marketing Strategy
1. Create Liquid Content: This …show more content…
While 70% was safe and low risk and 20% was innovative with new concepts and ideas that would work, 10% were high risk concepts which did have a high probability of non-acceptance and failure but if those ideas were successful they could in fact become the 70% safe content of the future. A more visually courageous engaging and interactive multimedia content generates conversations and has the potential to become highly popular.
Along with the 5 points Coca-Cola also decided to
-Accelerate Carbonated Soft Drink Growth.
-Broaden the number of products in the family of beverage brands.
(Lately Coca-Cola has signed deals to make Sprite and Fanta available in single serving pods K-Cups, to enable dispensing of freshly made cold drinks to go. Also in India Coca-Cola is now venturing into the dairy drinks industry by introducing Maaza Milky Delight , a mango based milk drink, catering to the Indian psyche of ‘milk is healthy’ and their penchant for mangoes.)
-Increase profitability and capability by bringing positive cooperation with the bottling partners.
-Maintaining consistency and adding creativity to generate growth.
(e.g. It was observed that in China the consumers enjoyed their Coke with a slice of lemon, hence the lemon Coke was introduced, which is basically the internationally loved