The Coca-Cola Company has increased its product mix by product line extensions as well as creating new products.Tags: College Short Response EssayEssays On Computer TechnologyWriting Custom Annotations In HibernateCritical Thinking And Education For DemocracyAplia Assignment AnswersEssay On Terrorism And Our Society In UrduHomework For Second GradeScience Narrative EssayKarl Marx Essay On The Jewish Question
Price: Price of the product or service is another important part of the marking mix.
Price is defined as “what a buyer must give up to obtain a product” (Hair, Lamb, & Mc Daniel, 2006, p. Price is the quickest and most flexible element to change in the marketing mix.
Place/Distribution: Another crucial part of the marketing mix is place and distribution of an organizations product. retailers and distributors) instead of directly selling to distribute its products worldwide (Coca-Cola Datamonitor, 2007).
Place and distribution strategies are “concerned with making products available when and where customers want them” (Hair, Lamb, & Mc Daniel, 2006, p. The Coca-Cola Company states in its mission statement that it wants to offer its products to all consumers globally (Coca-Cola Company, 2006). The Coca-Cola Company also uses intensive distribution strategies to make sure their products can be available everywhere.
There are four main aspects of the promotional mix that integrate together to create a competitive advantage for an organization.
The four aspects of the promotional mix are advertising, public relations, sales promotion, and personal selling (Hair, Lamb, & Mc Daniel, 2006, p.
However, the retail outlets use a variety of pricing methods and strategies when selling Coca-Cola products (Coca-Cola Datamonitor, 2007).
There is often competition pricing of the Coca-Cola products and prices are set around the same level as its competitors.
In addition, the Coca-Cola Company is in many other countries including India that are in the growth stage of the product life cycle (“Marketing: New products”, 2007).
The Coca-Cola Company’s growth in these areas are caused by their improved marketing to consumers, better relationships with bottlers, their “live happily” campaign in 200 markets, and the launch of Coca-Cola Zero.