Marketing Management Assignment Solution

Marketing Management

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EXECUTIVE SUMMARY

This report is based on marketing management which is important for the each and every organisation in order to attract large number of the customers towards business products and services. This project describe the entire information of company, including PESTLE analysis, SWOT analysis, Porter's five force model and other. Main aim and motive of this project is to identify as a whole information of the company in a systematic manner.

INTRODUCTION

Marketing is identify as a management and study of exchange relationship systematically. This concept is used by each and every organisation in order to create, satisfy and keep the customers on regular basis. Marketing is also defined as an activity and process of communicating, creating, exchanging, delivering, offering and providing products and services that has value for clients, buyers, society and clients. Management is the process of maintaining and designing an environment in which persons, working together in teams and accomplish desired goals and objectives of company in an efficient manner (Chan and et. al., 2012). So, both marketing and management are important concepts and processes of developing effective strategies and designing for services or products, promotions, sales, advertising to influence desired customer segment.

This report is based on The General Soft Drinks Co. Ltd which is responsible and liable for producing a big range of beverages across Malta. They deal in different products such as Diet Cock & Sprite, Fanta icy Lemon, etc. Main aim and motive of this business is to fulfil the basic requirement of clients by providing quality products and services. This project describes about the entire information of company’s background including internal and external analysis, marketing audit, new marketing mix, unique selling preposition (USP) and marketing positioning.

MAIN BODY

BACKGROUND STATEMENT OF COMPANY INCLUDING USP AND MARKET

POSITIONING:

The General Soft Drinks Co Ltd is liable for manufacturing and producing a different range of beverages across Malta and worldwide (Chernev, 2014). They produce a wide range of various soft drinks such as diet coke, Coca-Cola, Fanta, Schweppes, Dr Pepper, Sprite and Kristal. They employ over 240 persons in Gozo and Malta at its manufacturing site, distributions and offices centres. Main motive of this business is decreasing the environmental effect of business operations and products with a specific focus on climate protection, water stewardship energy and recycling. Coca-Cola operates in Malta which is beneficial to local business man George Spiteri. First plant of Coca-Cola was established on 18 May 1952 in Qormi. Mission of this business is to become supplier in every segment where they operate and manufacture their products or services (Foxall, 2014). This will be attained by satisfying the retailers and consumers with the greatest quality goods through dynamic, responsive, dedicated and trained workers who are also attached to maintain the interest of all stakeholders. Vision of this organisation is to promote and encourage the development and growth of employees at different levels of enterprise.

Unique selling positioning: It is identified as a marketing concept and strength of company in marketplace. It is also determine as a factor that distinguished goods from its challengers such as the highest quality, lowest cost or first- ever beverage of its kind USP of The General Soft Drinks Co Ltd in the number one brand in forms of sales with moreover 500 beverage at offer. It is a famous and world's largest soft drink company worldwide (Grönroos, 2011). Aim of this organisation is to provide quality and healthy products to the target and potential customers at reasonable cost. They mainly target those persons who belongs in age group of middle, upper and lower class. Basic proposition of company is very simple, timeless and solid. When they bring value, refreshment, fun and joy to its neutral, then they successfully in nature and protect their brand in particular way. It is essential and important to complete ultimate responsibility to give attractive and fair returns to the business owner systematically.

Market positioning: Coca-Cola is a famous and popular brand in all over the world with its quality products and services. Market positioning of this business is good in comparison to other organisations. They produce a large number of products such as diet coke, Coca-Cola, Fanta, Schweppes, Dr Pepper, Sprite, Kristal, etc. It is a leading retailer and manufacturer of non-alcoholic goods in all over the world (Hanna and Rowley, 2011). Company position in market is best famous for its flagship beverage. It is a useful product for the visitors, adults, kids and travellers who are interested in visiting for Malta. Company has strategically located itself with the organisation and soft drink market worldwide. Market Segmentation of company is identified as a procedure of portioning market in different parts of potential clients with same requirement and features who are probably to display similar buy behaviour. Main aim and motive of such activity is to understand and evaluate the market, classify opportunities and develop or use competitive edge in order to benefit on those chances (Kim and Hyun, 2011). Business organisation segments the clients based on certain criteria which are described as below:

(Source: Richard Bloch, 2018)

This chart shown the business progress in marketplace as comparison to another company in smiler industry. Coca-cola is a famous and popular brand in all over the world and it is a trustworthy organisation. So all investor are interested in investing their large amount of money in this industry because they are know about regarding future benefits. Growth and success of the company is increase repetitively because of its quality and healthy beverages (Leonidou and Leonidou, 2011). Main motive and aim of this enterprise is to expand their business operation and functions in all over the world as well as gaining more amount of benefits in an quick manner. Coca-cola market is classified into different ways which are determine as follows:

Geographic Segmentation: In this company has divided in all over the world as per the term of geographical. There are different division generates for main regions of worldwide and heads of all department report to the nurture firm.

Place of consumption: Coca-Cola is a famous brand that segments all marketplace on the basis of consumption place of the beverage. Large number of the consumption take an effective place on assumption such as railway station, cinemas, restaurant etc., while residue of it put place in homes.

Product type: Company is also divided on the basis of its quality products and services. Coca-Cola is a popular brand in all over the world by providing quality and healthy beverage (Lindgreen and et. al., 2012). Market is mainly classified into two parts where one is Cola product which gives majority of the sales or revenues, but the dimension of Non-cola beverage is increase in regular basis.

Demographics: In this business classified on the basis of its demographics. It is mainly divided as per the income and age of the person. 

Targeting: Business entity targets different parts with various ads. Coca-Cola primary market is youth who belongs in age group between 10 to 25 and secondary place of this business for younger person in the age bracket from 25 to 40. Beverages of company is mainly targeted towards an individual who want and need while diet cola, strong flavour and its variants which are marked the different parts that is beneficial and healthy conscious.

Positioning: Position of the company products as thirst quenching and refreshing. The beverage are said to take joy, fun, as tagline of little drops of sorrow. The goods are launched with having an accurate time period with family and friends as well as enjoying each and every day life.

Marketing Audit, including the entire market attractiveness and weather there is the potentials for market progress and growth.

Marketing Audit: It is identify as a systematic, comprehensive, periodic and independent examination of business or a company's unit's of marketing. It is planed to analysis marketing activities and assets in the way of market situation as well use the following evaluation to assist the organisation in planning process (Ling-Yee, 2011). Marketing audit should includes both internal and external analysis of company in a systematic and effective manner. With the help of both evaluation, an enterprise can identify their strength, weakness, opportunities and threats. Along with this, it captures external and internal circumstances that are faced by the business entity as well as plan an effective process, marketing strategies, systems and goals. Therefore, audit of marketing is very essential and valuable techniques which follow for acquiring touch with product and brand. Coca-Cola uses this tool in order to achieve long term and desired objectives of company in limited time period.

While organising a marketing audit, company have to adopt these phases which are describe as below:

Overview of The General Soft Drinks Co Ltd: Coca-cola is one of the leading and retail manufacturing company in all over the world. This business is best known for its quality and flagship products. It is a manufacture, marketer and beverage retailer of non-alcoholic products. They offers approx 500 brands in all over 200 territories and country as well as serve 1.6 billion serving in every day (Lusch and Webster, 2011). Around 92,800 employees are work in the company with motive of attracting large number of the customers towards business products and services. Aim of Coca-cola is to gaining maximum sales and revenues by providing healthy or quality beverage to the target & potentials customers.

Marketing objectives and goals: It is identify as a goal which is set by the marketing department that support the company to achieve desired and long term objectives in limited time period. Vision of the Coca-cola is to achieve maximum profit and revenue by providing quality products to the customers. Mission of the business organisation is totally clear is to completing basic needs and requirements of clients on the regular basis. Market segment of the company is divided into different parts such as products, geographic, demographics etc. So it is essential and important for the business to attract million number of customers towards beverages and services. For giving quality products to customers, business entity easily fulfil their marketing goals and objectives.

Target market segmentation: Coca-Cola is a distributor, marketers and leading manufacture of beverages. They follows multisegment targeting strategy or scheme which means, business has more than well-defined, market segment and single. It creates a marketing mix for all of the parts. As per the basis of geographic segmentation, market is classified into various ethnic & age groups, lifestyles, sexes etc. All these are basic examples which is beneficial for the organisation to understand their clients specific requirement and fulfil them (Marshall and LaMotte, 2011). On the basis of demographic segmentation, in this market is classified into the are group of person who belongs in between 15 to 25 and plus 40 year.

Competitors analysis: Coca-Cola is famous and most respected brand in all over the world and has wide range of competition with the utilisation of strong distribution scheme. There are different competitors such as Pepsi, Red bull, Diet coke, Fanta, Sprite, Gatorade, Dr pepper, Mountain dew, Lipton, Tropicana etc. All are top 10 challengers of the business that provide same products and services to the customers at affordable cost. 

 There are different tools of marketing audit or situational analysis are as follows:

SWOT Analysis: It is one of the best and essential tool for the business enterprise in order to identify their strengths, weaknesses, threats and opportunities in comparative marketplace (Merrilees, Rundle-Thiele and Lye, 2011). With the help of this tool, they are capable to survive in market as well as achieve long term and desired goals and objectives. It is also very important in improving performance of employees and gaining maximum revenues. SWOT Framework evaluate both external and internal factor that identify the ability of organisation and market environment. SWOT analysis of Coca-Cola which are describe as below:

Strengths: Coca-cola is a famous and well known enterprise in all over the world. There are some strength of the business which are identify as below:

Brand: The business entity has a well defined and strong brand in worldwide. It has been acknowledged as world's retailing and leading brands by different studies organised by business week, interbrand and other specialist. Apart from this, business owns other main or top beverages brand like Diet Coke, Sprite, Fanta etc. Coca-cola has spent more amount of fund to make a strong trade name that has a large clients recall.

Economies of scale: Coca -cola is the biggest marketer and retailer of non-alcoholic soft drink in this world. They sells their beverages in more than two hundred countries. Business enterprise is capable to invest in innovative marketplace as well as gather advantages when the company growth and success in profitable manner (Michaelidou, Siamagka and Christodoulides, 2011).

The Coca- cola system: The entire chain of firm and its bottling scheme is known as a main strength for the organisation. It follows the firm in order to target different markets in global level as well as proceed the bottlers, it assist to acquire knowledge and skill regarding the general market place. It also follow the business in regards to enlarge rapidly to fresh field without a great upfront investment.

Weakness: It is identify as a weak point of the enterprise in order to survive in competitive marketplace successfully. There are some weakness of coca-cola which are describe as below:

Criticisms regarding environmental and health problems: Products of the business entity are see to be great in harmful and calories for health. Different group of the business organisation have healthier drinks and other beverages over carbonates. In year 2006, organisation was consist in a controversy in nation when legal authority and its agencies declared that coca-cola include chemical and is dangerous for individual health (Miquel-Romero, Caplliure-Giner and Adame-Sánchez, 2014). One of the main weakness of the business such as negative promotion that can reason as a lot of harm to the business entity, particularly in international as well as growing markets.

Dropping sales in few countries: In current years, Business has negative growth in different marketplace. Performance or execution of the firm has been very poor in North America, it is a biggest market, in few last years. Business performance also poor in Latin America, Japan, south East Asia etc. This could be keep company from state effective in marketing as well as prevent the organisation from bigger growth and successful overall.

Opportunities: There are some changes of the Coca-Cola in order to expand their business operations and functions in different level. There are some opportunities of the business organisation which are as follows:

Inorganic acquisitions and growth: Business has been learning different local beverages enterprises in an aggressive manner over the end decade. Also, the organisation has maximised its stake in main bottling operations. It has been provided the business more handle over the whole value chain as well as follow it to line up the objectives of such kind of operations or transaction. Coca-cola acquired another business in entire markets in all over the world (Navarro, and et. al., 2011). These type of acquisitions provides head launch to company in internationally and followed the business to classify its revenue and sales stream.

Growing healthy and fresh bottled water and drinks: Company provides carbonated drinks in marketplace to acquiring saturated in various Western countries as well as way is to change towards healthier soft drinks. One of the best opportunity is to provide bottled water in globally. So the business has acquired and developed different brands which is catering two segments such as geographic and demographic. Company can follow its strong and effective trade name in carbonated water in order to maximise its existence in other category of beverage and take benefits of this increasing or growing markets.

Threats: There are some threats which are face by the business organisation are as follows:

Changing trends: It is identify as a big threats which is face by the company in its business operations and function in an effective manner. In Pepsico, carbonated drinks are main challengers of the Coca-Cola. There are different substitutes products including milk, tea, coffee, energy drink and juices.

Competition: Main competitor of the company is Pepsico which directly impact on business performance and sales in an effective way. There are different competitors of the Coca-Cola such as Pepsi, Red bull, Diet coke, Fanta, Sprite etc.

PEST Analysis: It is known as a external factor of the company which effects the business performances and sales in a positive and negative manner (Peter and Donnelly, 2011). This concept includes different aspects which are described as below:

Political: Company is subjected to very strict rules and regulations since its beverage which is come under the food category. Military takeover, civil unrest, government changes and other agitation in a nation which can effects operations and sales of company in that nation. 

Economic: Decline growth and success of economic in a nation to have direct and negative effects on business sales. Different macroeconomic factors like labour price, inflation rate would effect on business operation. Countries with more income would have maximum capital to spend on beverages such as soft drink.

Social: Beverages are reasoned unhealthy and person are acquiring health conscious. This is identify as a both opportunities and threats of organisation. Along with them, culture and social of a nation has a big effect on beverages habits of its country person.

Technological: It is another important factor which is essential for the business organisation in order to achieve long term goals and objectives. Company used different innovative technology in their value chain such as bottling operations, syrup manufacturing and storage at leading or retail shops. Innovative process and machines effects the production operations. 

Porter's Five Forces Model: This analysis provides as an innovative idea and plan of the competitive atmospheres that the business operates it (Saren and et. al., 2012). This aspects includes four parts which are describe as below:

Competition: One of the largest and biggest challengers of the coca-cola is Pepsico. In the market place, there are other competitors in different category of beverages, but coca-cola and Pepsico is more large as compare to other. Innovative competition maximise the product portfolio as well as introduce carbonated drinks of new variants (MARKETING THEORIES - EXPLAINING PORTERS FIVE FORCES, 2018).

Threat of new entrants: It is low in beverages sector and following certain factors which are3 responsible as:

• Brand name: It is important for the business to make strong brand which is not easy for an innovative business to emulate that (Storbacka, 2011).
• Distribution channel: Coca-cola have different distribution channel in all over the world which is not easy to match up.

Threat of substitute products: In this products substitute is high for beverages sector with products like juices, bottled water, coffee and tea readily available. For person who take beverages for its coffee and caffeine is very easy to substitutes.

Supplier power: In case of coca-cola, supplier power is not high. There are some points which are includes in this are as below:

• Raw materials such as water and sugar are standard so in this suppliers replaced easily without any issue.
• There are another factors such as power, labour etc., it is not a big issue for the business organisation.

Buyer power: Coca-cola in a leading business, the units of bottling are use by the customers since the business produce the syrup. In this bottling partners has minimum power of bargaining with business organisation (Vargo and Lusch, 2011). Though the organisation is mainly dependent on water bottlers for producing their beverages to the end user. 

New marketing mix actions to attain gaps between the business present external environment and marketing strategy.

In order to achieve high competitive benefits as well as complete the gape between external environment and real marketing strategies of the organisation (Designing an effective marketing mix, 2018). It is important for the company to organise a marketing mix in an effective manner. Below determined the marketing mix of coca-cola:

Product: The business has the biggest portfolio in food or beverage sector that produce approx 3300 products. It is mainly classified into different category of diet coke. Business produces various goods like fruit drinks, energy drink, coffee, tea and other products. They produce their all products and services in all around the country. It is beneficial for the organisation in order to achieve long term goals and objectives.

Price: Coca-cola apply different pricing strategy on the basis of market segmentation. They produce their all products in different groups. Company apply competitors pricing strategy which is good in attracting large number of the clients towards business products and services. Market of beverages industry said as a oligopoly market where large number of buyers and few sellers are available.

Place: It is identify as one of the main and essential part of the company where they produce their all products and services in an effective way. Company follows distribution channel such as FMCG distribution channel (Wilson and Gilligan, 2012). Effective distribution pattern of coke products has almost scoured the middle and small level players in the marketplace.

Promotion: It is another important and essential feature of the marketing mix which is valuable for the organisation in order to promote their products in marketplace. Coca-cola apply different communication channels such as promotion, advertisement, public relation, sponsorship and other techniques. With the use of all these, business organisation can attract million customers as well as improve business performance in an essential manner. The actual promotions through Corporate social responsibility includes help and support with NDTV. It has different brand ambassadors like Hrithik roshan, shahrukh khan etc.

Process: Coca-cola is a retail and leading organisation in all over the world. In order to manufacture the products and producing them to the end user business apply supply chain management in an effective way. It is one of the biggest and leading company in all over the world which deals in different beverages as well as achieve long term goals and objectives.

Physical Evidence: It is essential and important tools for the company to produce their healthy and quality products to the customers in a systematic manner. It follows the buyers in order to make effective decision regarding the business organisation. For business physical evidence identify as the capability and atmospheres in which the facility is offered (Wilson and Gilligan, 2012). Both tangible products that support top perform and communicate the facility as well as intangible experience of present clients. In this ability of company relay the buyers satisfaction by providing quality products and services to customers in more effective way.

CONCLUSION

From the above report it can be ascertained that marketing management is vital for an organisation. It aims to construct marketing practices and tactics so that products and services are delivered to consumer in an desired manner. This segment of marketing focuses on the physical and psychological concept with an intention to influence level and composition of consumer demand. The swot analysis is conducted so that major strengths and weakness of business can be realised. The company's financial resources and brand name can be termed as business's strengths where as growing concern of people towards healthy eating has become a probable loss for business. The analysis of the external environment is conducted by employing tools such as PESTLE and Porter's five forces so that plans for future could be formulated.

References

Books and Journal

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Foxall, G., 2014. Strategic Marketing Management (RLE Marketing). (Vol. 3). Routledge.

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Kim, J. H. and Hyun, Y. J., 2011. A model to investigate the influence of marketing-mix efforts and corporate image on brand equity in the IT software sector. Industrial marketing management. 40(3). pp.424-438.

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Online

Designing an effective marketing mix, 2018. [Online]. Available through: <https://www.mrgoodacre.com/designing-an-effective-marketing-mix.html>.

MARKETING THEORIES - EXPLAINING PORTERS FIVE FORCES, 2018. [Online]. Available through: <https://www.professionalacademy.com/blogs-and-advice/marketing-theories---explaining-porters-five-forces>.