The marketing mix of Coca-Cola Life
Olymp should concentrate on three main goals and objectives: First of all, they have to try to increase Market share and growth; the company is very successful in doing this, but there is still a lot of potential in this area. Below-the-line marketing fosters superior customer engagement, which is critical in todays modern business landscape. Catalogues and postcard mailings are still popular and effective marketing tools. Coke Life is a carbonated soft drink with a combination of sugar and stevia leaf extract as sweeteners manufactured by KO (The Coca-Cola Company 2015). Companies still engage in direct mail advertising, especially the older demographics that are not online as often as, the younger generations. Below-the-Line Advertising, above-the-line advertising is designed to reach mass audiences. This allows for a more high-touch experience, where a salesperson can answer direct questions and better explain the products. . Asking customers how they heard about a company, for example, can yield unreliable responses because people sometimes recall their experiences inaccurately. Once the target demographic is identified, below-the-line advertising reaches consumers in a more personalized, direct manner.
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Above all, it is designed for those who would like to drink a reduced calorie Coke with a sweetener of natural origin. 3.1 Three Layers of Coca-Cola Life The three layers, which identify the consumers needs and wants of a product, are the core product, actual product and augmented product (Solomon. Above-the line casts a wide net versus below-the-line, which uses a proverbial fishing pole through direct mailings, face-to-face contacts at trade shows, or paid search engine results that pop up when consumers enter specific queries. Today it is headquartered in Atlanta, Georgia and its current CEO is Muhtar Kent (Coca Cola Deutschland 2015 The Coca-Cola Company 2015). And finally Olymp has to improve its awareness level. 2.4 Main Target Market of Coca-Cola Life Coke Life is designed for adults who are looking for a great tasting Coke.
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Through the brand Coca-Cola people can link certain memory contents over a longer period which were built up by marketing measures like the co-branding (Esch Andresen 1997). Therefore each variation of Coke has the same branding, but various colours. The actual product is a glass bottle with a brown liquid inside and a green label with a small leaf logo. 3.3 Stage of the Product Life Cycle for Coca-Cola Life Far beyond the product policy, the product life cycle (PLZ) has a significant importance for marketing planning. Banks host mortgage seminars to answer questions about mortgages, interest rates, and home affordability with the goal of landing new loan customers. What Is Below-the-Line Advertising? With regard to the promotion of Coca-Cola Life the Coca-Cola Company uses different ways to communicate the product whereby campaigns that wake emotions are currently at a premium. 2 Background, in this chapter some details about the company and its product Coke Life will be presented as well as the main target markets for this product. Further this report includes recommendations to improve the product offering and the communication of the offering.
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Therefore the marketing theory has been implemented and assumptions have been made on the basis of this report. Regarding Coke Life the colour is green (Hepburn.d.). Usually the price of a 600ml bottle of Coca-Cola Life is around.50 which is positioned above the price of the direct competitor Pepsi True. Advantages of Below-the-Line Advertising, lower costs are arguably the biggest advantage of below-the-line advertising. Due to the one-brand strategy Coke Life can profit from the widespread appeal of the master brand; Coca-Cola. Recommendations have been made to suggest that a more sustainable view of Coca-Cola Life and its environment could potentially increase market share and future profits. Arbeit zitieren, julia Anders (Autor), 2010, Olymp's Marketing Strategy. Illustration not visible in this excerpt Figure 1: swot analysis of Coca Cola Life Sources: MarketLine (2015 Bhasin (n.d.) Appropriate strategies were derived from the swot analysis to reduce the most important weaknesses and risks, such as product. According to Table 1 the product can be bought at nearly every shop and supermarket in various countries all over the world. The epitome of above-the-line marketing.
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Furthermore, below-the-line methods make it easier to track conversions with intended consumers. Below-the-line advertising campaigns include direct mail campaigns, trade shows, catalogs, and targeted search engine marketing. Below-the-line advertising is an advertising strategy where products are promoted in media other than mainstream radio, television, billboards, print, and film formats. The aim of the company is to differentiate their own product towards competitors for their target group and to reach a better identification of potential and existing customers (Ku Kleinaltenkamp 2011). The Marketing strategy of the shirt manufacturer Olymp - Bezner KG has been performed successfully for many years; nevertheless there is always room for improvement and further development. Furthermore, Olymp has to build and enhance a strong customer relationship to increase customer benefits in orderto achieve customer satisfaction and loyalty, because this components lead to business success. Case in point: though there are multiple strategies for tracking the effectiveness of TV and radio ads, it's hard to gauge overall impact. Because of the fact, that the company has not a big to cover the costs for a public advertisement, Olymp has to keep on participating at fairs and using PR as an important instrument to create value and stay remained in people's minds. 3.4 The Branding of Coca-Cola Life The way consumers view a product is critical, therefore the branding of a product is a necessity and it is essential that organisations understand what brands to create when producing a product whether. Format: PDF fr PC, Kindle, Tablet, Handy (ohne DRM).
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It is the worlds largest manufacturer of non-alcoholic beverage concentrates and syrups. 2.1 The Organisation, the Coca-Cola Company (KO) is a multinational, stock listed company which was founded in 1886 by John Stith Pemberton. On the downside, statistically speaking, a significant percentage of those viewers may not typify a companys target consumer. Compared to indirect competitors the price is set in the upper margin. Regarding the company's strategy and Marketing Mix concerning the product policy, Olymp should maintain the specialties like the winkle free shirts and the Polo shirts. Trade Shows and Presentations, businesses often present their products and services through the local Chambers of Commerce. 2.3 swot Analysis In the following the internal environment consisting of the strengths and weaknesses of the company and the external environment which are the opportunities and threats of KO will be demonstrated. The main types of below-the-line advertising systems include direct mail campaigns, social media marketing, trade shows, catalogs, and targeted search engine marketing.
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Since 2014 the product has been introduced to further markets such as the United States, Great Britain and Germany. In conducting this report only secondary research methodologies were used implementing resources such as using books and websites. Moreover, consumers who buy Coke Life are obviously purchasing a convenience product, as customers just spend a little effort on the purchase decision, the product is frequently purchased and widely available (Solomon. Therefore, relating to the PLZ Coke Life is currently in the growth stage as it continues to increase sales and persuade consumers to choose their product over similar products (The Coca-Cola Company 2014; Solomon. On the other hand, email and search engine marketing precisely track the links consumers click, in order to provide businesses with more exacting details. Here, you have the opportunity to face a great number of occasional customers. Evaluation of this product lead to the following recommendations: A weakness was identified in the ingredients. Finally, two innovative recommendations will be given, relating to the improvement of the sustainable aspects of Coca-Cola Lifes marketing. Conversely, below-the-line advertising reaches fewer people but is more selective about its audience.
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Further, it follows an analysis of the product in relation to the marketing mix theory and concepts. References, executive Summary, this report was commissioned to examine the marketing of Coca-Cola Life which is distributed by the Coca-Cola Company. Wallop (2014).2 Classification of Coca-Cola Life Furthermore, marketers have to classify the product with a view to a better understanding of the purchase behaviour of consumers. Below-the-line advertising methods tend to be less expensive and more focused versus above-the-line strategies. In relation to Coke Life it is obvious that the branding KO has created is a co-brand, as Coke Life is marketed under one brand; Coca-Cola (Solomon. When the bond is real between brand and influencer, audiences feel it, believe it, and buy into. That's why the company should continue to pursue its strategy to open retail stores in big, well-known department stores as in the chain Lafayette in Paris.
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Of course, there's no perfect marketing tool that works each and every time. Thus, cost savings can be made through the rationalisation of advertising (Wegrzyn 2015). According to the distribution channel, Olymp should stick to its strategy to extend exports and to deepen the relationships to its retail partners abroad, because there is a huge growth potential for the enterprise in the European, African, Middle Eastern and Chinese market. In terms of communication policy, Olymp should enlarge its co- operations as it does with Lufthansa to increase the popularity and intensify the customer relationsip; in addition, sponsoring has to remain as an important means of communication, promotion and presence. The return on investment (ROI) from a below-the-line campaign can be higher versus an above-the-line since below-the-line is less costly and more easily monitored. An overall overview, Mnchen, Page:Imprint: grinverlagOHG, /document/277723. The core product is a refreshing soft drink with a unique taste and 35 less sugar and kilojoules, sweetened with stevia as a natural source. Super Bowl television ad, which costs millions of dollars for mere seconds of airtime, but instantly reaches tens of millions of consumers on a global basis. Price stability and distribution intensification affect sales and turnover positively (Pfaff, D 2004). Table 1: Facts about the product Coca Cola Life illustration not visible in this excerpt.