Marketing Mix Of Coca-Cola s Foray into Frozen Dessert Segment

Posted by Zander Henry on Aug-22-2018

1. marketing mix

1.1. Understanding the marketing mix

• The marketing mix is an important set of marketing tools and characteristics that a firm uses to increase penetration in the target market groups
• Using the marketing mix strategically includes focusing on seven important aspects of marketing and branding for an organization, namely: product, place, price, promotion, people, process, and physical evidence

1.2. Importance of marketing mix

• The marketing mix helps a company choose and decide on a suitable marketing strategy
• The marketing mix also helps a company in resource and budget allocation to different aspects of the marketing strategy and product development
• The marketing mix also allows a company to choose the right and effective marketing tactics for its promotional needs

2. Marketing mix for Coca-Cola s Foray into Frozen Dessert Segment

Coca-Cola s Foray into Frozen Dessert Segment makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Coca-Cola s Foray into Frozen Dessert Segment is presented below:

2.1. Product

Product is one of the most important components of the Coca-Cola s Foray into Frozen Dessert Segment Marketing mix. The distinctive characteristics of the product by Coca-Cola s Foray into Frozen Dessert Segment are:

2.1.1. Quality

• Coca-Cola s Foray into Frozen Dessert Segment maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Coca-Cola s Foray into Frozen Dessert Segment procures raw materials from reliable and trusted suppliers only
• These raw materials are processed under carefully maintained environments to maintain high and consistent quality of the products
• High quality promise and delivery also provides Coca-Cola s Foray into Frozen Dessert Segment with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Coca-Cola s Foray into Frozen Dessert Segment are relatively easy to use
• All products come with a user manual, which is easy to understand and which provides simple instructions for product use
• The consumers can also call the 24/7 helpline to understand details about product usage
• Also, retail representatives provide detailed instructions and explanations regarding the use of the product at the time of the sale

2.1.3. Portfolio broadness

• Coca-Cola s Foray into Frozen Dessert Segment has a broad portfolio of products
• The broad portfolio helps Coca-Cola s Foray into Frozen Dessert Segment in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Coca-Cola s Foray into Frozen Dessert Segment
• The broader product portfolio also adds more value for Coca-Cola s Foray into Frozen Dessert Segment

2.1.4. Benefits of product consumption

• Coca-Cola s Foray into Frozen Dessert Segment offers functional benefits to consumers of the product use
• These functional benefits are promised and delivered – however, they are also delivered by other similar products
• The distinguishing aspect of Coca-Cola s Foray into Frozen Dessert Segment is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Coca-Cola s Foray into Frozen Dessert Segment promise consumers an ego boost, confidence, and security
• Coca-Cola s Foray into Frozen Dessert Segment also promises fulfilment of psychological needs on product consumption
• These psychological needs include, for example, the need for empathy, the need for belonging, and the need of feeling loved.

2.1.5. Different SKUs

• The products by Coca-Cola s Foray into Frozen Dessert Segment are available in different sizes
• Coca-Cola s Foray into Frozen Dessert Segment has made use of different SKUs to increase market penetration
• Different SKUs can be brought and used as per the consumption needs of the consumers, and the target markets
• Through the production of different SKUs, Coca-Cola s Foray into Frozen Dessert Segment has also increased the trial rate
• Different SKUs have also helped Coca-Cola s Foray into Frozen Dessert Segment improve its product accessibility

2.2. Price

Coca-Cola s Foray into Frozen Dessert Segment marketing mix focuses on a hybrid strategy for pricing to obtain maximum value for its products. The marketing mix Coca-Cola s Foray into Frozen Dessert Segment uses a combination of a number of techniques for pricing its products, which are detailed below:

2.2.1. Premium pricing

• By using premium pricing for some of its product ranges, Coca-Cola s Foray into Frozen Dessert Segment encourages favorable brand and product perceptions in target consumer groups
• Premium pricing for products also encourages a favorable quality perception of Coca-Cola s Foray into Frozen Dessert Segment products amongst consumers
• With premium prices, Coca-Cola s Foray into Frozen Dessert Segment has successfully also made some of its product ranges exclusive by restricting sales and production. This, in turn, leads to a perception g luxury in consumption products
• Premium prices add a touch of privilege and high value in Coca-Cola s Foray into Frozen Dessert Segment products
• Using elements of premium prices in other product ranges has also allowed Coca-Cola s Foray into Frozen Dessert Segment to maintain significantly high profits and a consistent business growth

2.2.2. Psychological pricing

• Since Coca-Cola s Foray into Frozen Dessert Segment has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, Coca-Cola s Foray into Frozen Dessert Segment also successfully adds more value to its products from the point of view of customers
• Coca-Cola s Foray into Frozen Dessert Segment also gains higher sales with psychological pricing
• Consumer purchase a higher amount of Coca-Cola s Foray into Frozen Dessert Segment products because of its use of psychological pricing
• Coca-Cola s Foray into Frozen Dessert Segment is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

• Coca-Cola s Foray into Frozen Dessert Segment is able to penetrate different regional markets optimally with the use of geographical pricing
• For offshore locations, geographical pricing also allows Coca-Cola s Foray into Frozen Dessert Segment to cover shipping and customs expenses
• Geographical pricing also allows Coca-Cola s Foray into Frozen Dessert Segment to maintain consistent revenue growth by altering pricing in different markets based on local currency value

2.2.4. Bundle pricing

• For some product ranges, Coca-Cola s Foray into Frozen Dessert Segment is also known to use bundle pricing strategy popularly
• Coca-Cola s Foray into Frozen Dessert Segment also uses bundle pricing during sales
• Bundle pricing increases the trial rate for consumers
• Coca-Cola s Foray into Frozen Dessert Segment experiences higher return on the cost of gaining a new customer
• With bundle pricing, Coca-Cola s Foray into Frozen Dessert Segment is also able to control costs and prices by lowering marketing and distribution expenses
• The use of bundle pricing also adds value to the umbrella brand name of Coca-Cola s Foray into Frozen Dessert Segment.

2.3. Placement

Coca-Cola s Foray into Frozen Dessert Segment places high importance on the placement of its products because it directly relates to accessibility for consumers.

2.3.1. Company-operated stored

• The company maintains stores operated by the management of Coca-Cola s Foray into Frozen Dessert Segment in all markets
• Company-operated stores give Coca-Cola s Foray into Frozen Dessert Segment higher control over operations as well as store layout and design
• Coca-Cola s Foray into Frozen Dessert Segment also interacts directly with the consumers and gathers important details regarding consumer behavior and consumer feedback through company-operated stores
• The company operated stores also give leverage to Coca-Cola s Foray into Frozen Dessert Segment in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• Coca-Cola s Foray into Frozen Dessert Segment licensed stores also allow consumers to enjoy the various product offerings by the company
• Licensed stores also decrease the risk of financial and physical investment for Coca-Cola s Foray into Frozen Dessert Segment in unstable markets
• Licensed stores have also given Coca-Cola s Foray into Frozen Dessert Segment high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, Coca-Cola s Foray into Frozen Dessert Segment has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by Coca-Cola s Foray into Frozen Dessert Segment by aligning it with local cultural values
• Licensed stores also help Coca-Cola s Foray into Frozen Dessert Segment in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• Coca-Cola s Foray into Frozen Dessert Segment has developed a successfully operational website for online order placement and order tracking
• Coca-Cola s Foray into Frozen Dessert Segment also encourages sales through social media portals, where the company takes orders through direct messages, as well as through a mini-shop model
• The company also stocks products with online retailers such as Amazon and eBay, as well as smaller local online retailers as well
• Online retailing, and using the internet to make sales has boosted the sales for Coca-Cola s Foray into Frozen Dessert Segment and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Coca-Cola s Foray into Frozen Dessert Segment also places its products in supermarkets and hypermarkets across the country
• A large number of Coca-Cola s Foray into Frozen Dessert Segment target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Coca-Cola s Foray into Frozen Dessert Segment

2.3.5. Partner agents

• In offshore locations, Coca-Cola s Foray into Frozen Dessert Segment also makes use of partner agents for its products’ placement
• These partner agents are assessed and evaluated on strategic compatibility and reliance
• Coca-Cola s Foray into Frozen Dessert Segment contracts with partner agents in other countries and markets for its product placement to ensure quality control and terms of negotiation

2.4. Promotion

The marketing strategy for Coca-Cola s Foray into Frozen Dessert Segment also places high importance on the promotional tactics and strategies used. The promotional strategies allow the Coca-Cola s Foray into Frozen Dessert Segment to interact with the consumers and influence them directly. Coca-Cola s Foray into Frozen Dessert Segment uses a 360-degree approach in its promotional activities, and makes use of the following means of promotion:

2.4.1. Digital marketing

• Coca-Cola s Foray into Frozen Dessert Segment has corporate profiles on all social media websites and portals
• Coca-Cola s Foray into Frozen Dessert Segment uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Coca-Cola s Foray into Frozen Dessert Segment to understand the customers, their needs and demands
• Coca-Cola s Foray into Frozen Dessert Segment uses this feedback and incorporates it in its broader marketing and organizational strategy
• Coca-Cola s Foray into Frozen Dessert Segment also maintains a corporate website – which highlights company information, product information as well as information regarding any ongoing campaigns and sales

2.4.2. Reward Programs

• Coca-Cola s Foray into Frozen Dessert Segment has a loyalty card program for its customers
• The loyalty card allows customers to redeem points in exchange for products or other exciting gifts, as directed by the company
• Each purchase is entered into the loyalty card by Coca-Cola s Foray into Frozen Dessert Segment and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Coca-Cola s Foray into Frozen Dessert Segment on high valued purchases
• Frequent usage and purchase of products by Coca-Cola s Foray into Frozen Dessert Segment also has rewards against the loyalty card

2.4.3. Community Influencers

• Coca-Cola s Foray into Frozen Dessert Segment makes use of community influencers as its on-ground promotional efforts
• Coca-Cola s Foray into Frozen Dessert Segment identifies strong and confident individuals to be brand ambassadors in their communities
• Coca-Cola s Foray into Frozen Dessert Segment provides these brand ambassadors and community influencers with its product range and invites them to use it themselves to see benefits

2.4.4. Conventional marketing

• The company places advertisements in consumer-related magazines. This largely includes home decor, and home management magazines
• Magazine ads are not very frequent, but appear twice every quarter of the fiscal year
• In high-density locations, Coca-Cola s Foray into Frozen Dessert Segment also makes use of out of house hoardings
• Hoardings increase visibility for Coca-Cola s Foray into Frozen Dessert Segment and also work towards building stronger brand recall
• Coca-Cola s Foray into Frozen Dessert Segment also produces TV advertisements
• All TV advertisements have an emotional appeal to them
• TV advertisements by Coca-Cola s Foray into Frozen Dessert Segment have progressed to include a slice of life elements and characteristics
• TV advertisements by Coca-Cola s Foray into Frozen Dessert Segment also highlight the functional benefits of the product

2.5. People

The marketing mix of Coca-Cola s Foray into Frozen Dessert Segment also places an essential focus on people development and people building. This is because Coca-Cola s Foray into Frozen Dessert Segment realizes the importance of employees in building strong customer relationships. Coca-Cola s Foray into Frozen Dessert Segment develops its employee and people by focusing on the following aspects:

2.5.1. Training

• Coca-Cola s Foray into Frozen Dessert Segment makes sure that all employees undergo regular training sessions for skill development and enhancement
• Trainings at Coca-Cola s Foray into Frozen Dessert Segment are not the only field related, but also focus on essential management and organizational skills
• Training sessions and activities at Coca-Cola s Foray into Frozen Dessert Segment also identify with the employee's own needs of progression, development and growth
• All training sessions and activities designed and carried out by Coca-Cola s Foray into Frozen Dessert Segment take into consideration business goals and objectives, as well as employee's personal goals and aspirations
• Coca-Cola s Foray into Frozen Dessert Segment, therefore, tries to develop the employee as an organizational member, as well as an individual
• All training is engaging, and hands-on so that employees do not only learn but also experience

2.5.2. Organizational ownership

• Coca-Cola s Foray into Frozen Dessert Segment works on strengthening the organizational commitment in its employees
• Coca-Cola s Foray into Frozen Dessert Segment builds employee loyalty so that people can reflect their optimal best at work
• Coca-Cola s Foray into Frozen Dessert Segment also understands that satisfied employees will lead to happy and satisfied customers
• Coca-Cola s Foray into Frozen Dessert Segment regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Coca-Cola s Foray into Frozen Dessert Segment also includes employees in decision making at different managerial levels, and regularly takes their feedback for different projects and products – which also work towards building organizational ownership

2.5.3. Motivation building

• Coca-Cola s Foray into Frozen Dessert Segment employees are the face of the organization
• Coca-Cola s Foray into Frozen Dessert Segment are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Coca-Cola s Foray into Frozen Dessert Segment distributes
• Another source of motivation is appreciation programs where management appreciates and acknowledges the work and performance of different employees

2.5.4. Succession planning

• Coca-Cola s Foray into Frozen Dessert Segment remains one of the leading players in the industry also because of its focus on succession planning
• Coca-Cola s Foray into Frozen Dessert Segment conducts succession planning for all managerial levels
• Succession planning is done through internal promotions as well as external recruitments to meet the needs and demands of the vacant job position at Coca-Cola s Foray into Frozen Dessert Segment
• Strategic succession planning has allowed Coca-Cola s Foray into Frozen Dessert Segment to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Coca-Cola s Foray into Frozen Dessert Segment has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Coca-Cola s Foray into Frozen Dessert Segment are clearly defined and communicated to the employees
• Coca-Cola s Foray into Frozen Dessert Segment makes sure that employees are well trained, and knowledgeable of all processes relates to operations
• All stages of operational processes focus on maintaining a high quality level and standard of the products
• Systematic process re in place for all operation – from procurement to the final sale of the products
• All operational processes are maintained, checked, and uploaded through the internal portal of the organization for supervisory purposes
• The use of online portals for operational processes also builds a strong backup for managerial purposes at Coca-Cola s Foray into Frozen Dessert Segment

2.6.2. People Management

• Coca-Cola s Foray into Frozen Dessert Segment has also defined clear processes for people management through streamlining its human resource management department
• Coca-Cola s Foray into Frozen Dessert Segment has defined guidelines regarding recruitment, training, compensation management, and performance appraisal of employees
• All people related processes are not only communicated to the management and supervisors, but also to employees to create a sense of transparency, and an environment of trust
• Progressive people management systems and processes have allowed Coca-Cola s Foray into Frozen Dessert Segment to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Coca-Cola s Foray into Frozen Dessert Segment also has defined policies and processes for managing and maintaining quality
• All products undergo triple quality checks to ensure that customers receive the best product
• In addition to quality checks at the production and distribution level, the management has also placed separate quality maintenance and quality check department
• The quality maintenance department has experts who make sure that not only the final product but also the processes involved in producing the product were infused with quality

2.6.4. Store management

• Coca-Cola s Foray into Frozen Dessert Segment manages store management through stringent and closely monitored policies and processes
• These processes relate to not only the floor and space design but also to the performance of the employees at the store
• The processes for store management also regularly monitor footfall and work on strategies to increase footfall through different tactics, and changes in the store design and store management
• The company also has a systematic process for customers who interact with the products and feel them before making the purchase
• The final sale at the store is also clearly defined – for the employees and the customers both
• Processes and policies are important for Coca-Cola s Foray into Frozen Dessert Segment for maintaining quality of the products, and for ensuring that the company does not experience any unnecessary expenses and costs

2.7. Physical evidence

The physical evidence is also important in the marketing strategy for Coca-Cola s Foray into Frozen Dessert Segment as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Coca-Cola s Foray into Frozen Dessert Segment include:

2.7.1. Store atmosphere

• The store design and management for Coca-Cola s Foray into Frozen Dessert Segment is exciting and creative
• The store atmosphere makes the customers feel relaxed and comfortable –so that they can interact with, and enjoy product offerings by Coca-Cola s Foray into Frozen Dessert Segment at ease
• The store design is also important for Coca-Cola s Foray into Frozen Dessert Segment because it controls the level and nature of experience and interaction that the customers have with the product and the brand
• With company-operated stores, it is easier for Coca-Cola s Foray into Frozen Dessert Segment to control and manage the store atmosphere to be able to positively influence customers and to be able to appeal to them emotionally

2.7.2. Packaging

• Coca-Cola s Foray into Frozen Dessert Segment has unique packaging, which is different from other players in the industry
• Coca-Cola s Foray into Frozen Dessert Segment also has a vibrant touché to its packaging, which is regularly changed in terms of colors and patterns
• The logo for the company is simple, and recognizable by the consumers easily
• The brand logo has also become a symbol of confidence, ambition, and aspiration for consumers who use products by Coca-Cola s Foray into Frozen Dessert Segment
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Coca-Cola s Foray into Frozen Dessert Segment

2.7.3. Website design

• The website design is simple and easy to use
• Coca-Cola s Foray into Frozen Dessert Segment has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Coca-Cola s Foray into Frozen Dessert Segment also has the brand logo, and is packaged similarly to the products offered by the company
• The design patterns, and color change on the website with changes to the product packaging to match various campaign needs and sale offerings