The Coca-Cola Marketing Mix
RUNNING head: THE COCA-COLA MARKETING MIX
The Coca-Cola Marketing Mix
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THE COCA-COLA MARKETING MIX
Abstract
The marketing mix is known as the 4 P’s or the product, price, place and promotion of
Marketing. It is a marketing strategy that company’s use to estimate the value and determine the methods of advertising and distributing its products. Coca-Cola has been long admired for its approach to marketing. Over its 127 year history, Coca-Cola’s efforts to refine and perfect its marketing mix has allowed the company to become the number 1 beverage company in the world. Coca-Cola is one of the longest surviving brands and among the most successful companies ever. No one would dispute that Coca-Cola has a very successful marketing strategy.
THE COCA-COLA MARKETING MIX
3
The Coca-Cola Marketing Mix
The marketing mix is known as the 4 P’s or the product, price, place and promotion of
Marketing. It is a marketing strategy that company’s use to estimate the value and determine the methods of advertising and distributing its products. In other words, the marketing mix consist of getting the right product to the right place, at the right time, at the right price and with the most suitable promotional activity (Wilson, 2013). According to Arandilla, “Coca-Cola is one of the longest surviving brands and among the most successful companies ever”. The reason in part is their understanding and execution of the marketing mix (Arandilla, 2011, para. 1). Coca-Cola has been long admired for its approach to marketing. They understand that the various elements of the marketing mix must work harmoniously together (Mitchel, 2013).
The first “P” of the marketing mix is the Product. The product is the single most important component of the marketing mix. Without a product, there is nothing to distribute, nothing to promote and nothing to price. If the product fails to satisfy consumer demand, no additional cost on any of the other ingredients
The Coca-Cola Marketing Mix
1
2
THE COCA-COLA MARKETING MIX
Abstract
The marketing mix is known as the 4 P’s or the product, price, place and promotion of
Marketing. It is a marketing strategy that company’s use to estimate the value and determine the methods of advertising and distributing its products. Coca-Cola has been long admired for its approach to marketing. Over its 127 year history, Coca-Cola’s efforts to refine and perfect its marketing mix has allowed the company to become the number 1 beverage company in the world. Coca-Cola is one of the longest surviving brands and among the most successful companies ever. No one would dispute that Coca-Cola has a very successful marketing strategy.
THE COCA-COLA MARKETING MIX
3
The Coca-Cola Marketing Mix
The marketing mix is known as the 4 P’s or the product, price, place and promotion of
Marketing. It is a marketing strategy that company’s use to estimate the value and determine the methods of advertising and distributing its products. In other words, the marketing mix consist of getting the right product to the right place, at the right time, at the right price and with the most suitable promotional activity (Wilson, 2013). According to Arandilla, “Coca-Cola is one of the longest surviving brands and among the most successful companies ever”. The reason in part is their understanding and execution of the marketing mix (Arandilla, 2011, para. 1). Coca-Cola has been long admired for its approach to marketing. They understand that the various elements of the marketing mix must work harmoniously together (Mitchel, 2013).
The first “P” of the marketing mix is the Product. The product is the single most important component of the marketing mix. Without a product, there is nothing to distribute, nothing to promote and nothing to price. If the product fails to satisfy consumer demand, no additional cost on any of the other ingredients
References: Dimanche. (2012, Novermber 18). [Web log message]. Retrieved from http://softdrinkcolawar.blogspot.com/2012/12/coca-cola-pricing-strategy.html Arandilla, R. (2011, October). Coca-cola advertising through the years. Retrieved from http://www.1stwebdesigner.com/inspiration/coca-cola-advertising-history/ Hundekar, S. G., Appannaiah, H. R. &, Reddy, P. N., (2010). Principles of marketing. Mumbai, IND : Global Media Retrieved from Mitchel, D. (2013, February 14). Why centralized marketing control benefits a brand. Retrieved from http://www.penetrating.net/marketing-mix.html Sherlekar. , Prasad, S. A., Victor, K. N., & Salvadore , S. J. (2010). Principles of marketing. Wilson. (2013). Within an arm 's reach of desire. Retrieved from THE COCA-COLA MARKETING MIX Wilson. (2013). Who dares wins – Success through intelligent risk. Retrieved from http://businesscasestudies.co.uk/coca-cola-great-britain/who-dares-wins-success-throughintelligent-risk/a-story-of-global-success.html#ixzz2gzLpgEEJ