...Marketing Mix James Jones MKT/421 February 15, 2003 Marketing Mix The Coca-Cola Company uses unique elements to create their marketing mix. A marketing mix consists of product, place, price and promotion. This was created in 1960 by marketer E. J. McCarthy and is also known as the four Ps. Since its inception marketers throughout the world have adopted this method. McCarthy classified marketing activities into four categories. Product is the item that is being sold and what consumers demand. Place is where the item will be sold and the consumers have access to the product. Price is the selling point of their item and they amount a customer will pay for the product. Promotion is the method in which the company will market their product and communicate with the consumer. A company will attempt to find the best marketing mix and strategy by engaging in analysis, planning, implementation and control. These activities will be observed closely and can adapt to changes and factors in the marketplace. The Coca-Cola Company is an American multinational beverage corporation that is headquartered in Atlanta, Georgia. They are a multibillion-dollar corporation that sells their products to over 200 countries. They sell nonalcoholic beverages with concentrates and syrups. There brands include Diet Coke, Sprite, RC Cola, Fanta, and Minute Maid. Coca-Cola is one of the most widely used soft drink in the world. The company has very efficient and extensive distribution system in...
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...Defining Marketing MKT/421 Marketing is a part of everyone’s daily lives. We see it in the billboards on the side of the road, in TV commercials, at the grocery store, and even within our jobs. I define marketing as a company’s ability to successfully persuade a person to purchase their product or service. According to Perreault, Cannon, and McCarthy (2009) marketing is “the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client.” Finally, according to the American Marketing Association, “marketing is the activity, set of insitutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (2007). Marketing is a very necessary tool for every organization to help them grow in market shares and brand familiarization. One of the most important benefits of a successful marketing campaign is the revenue that is generated from the sales of products and services. Coca-Cola’s marketing department has greatly influenced American culture when the images of Santa Claus first appeared on the classic red cans in the 1930s. The image of St. Nick still continues to appear on the cans every winter (Coca-Cola, 2011). In 1971, Coca-Cola launched a song titled “I’d Like to Teach the World to Sing” that quickly became a world wide hit....
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...Favorite Brand Paula Plattner MKT/421 Nov. 23, 2015 Stephen Grothe Favorite Brand Coca-Cola, the real thing. I have been a fan of Coke since I was a kid, when everyone else was drinking Pepsi, I wanted Coke. This may not seem like a big deal in more populated areas of the United States east of the Mississippi, however in rural Montana, Pepsi is everywhere. I cannot tell you why I am obsessed with Coke, perhaps it’s the iconic red can, the bottle shape, or even the Coca-Cola bears, but I can tell you that if I am in a restaurant that only has Pepsi, I will just have water. Coca-Cola is the original cola and was developed in 1886 by Atlanta pharmacist, Dr. John Pemberton and was one of several carbonated drinks, Dr. Pepper, for instance, that were created during that time. What set Coca-Cola apart from others, was the vision of Asa Chandler, who run the company from 1888 to 1918, to take the company national. The reasons I like Coca Cola are simple; I like the taste, the packaging and the idea behind sharing a coke. First is taste; I simply think that Coke tastes better than Pepsi or Dr. Pepper. I am particularly fond of Coke Zero because it does not have that diet pop aftertaste that you find in other diet sodas. Second, the packaging, from the classic bottle shape to the distinctive logo, they both are visually appealing to me. I also love to collect Coca-Cola memorabilia. The Coca-Cola Polar Bears are synonymous with the holidays that are my favorite time of the year...
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...Business Strategies: Marketing Heather Schmidt MKT/421 May 30, 2012 Ron Smith Business Strategies: Marketing Of all the business aspects one must consider when owning an organization, the most important business consideration involves a company’s marketing strategy. Marketing is the livelihood of any organization, for without it, a company’s existence may go unnoticed by the public, or whatever unique competitive edge an organization may possess ultimately might remain undiscovered. Marketing not only draws consumers to the goods or services offered by a business, but it also offers customers a chance to familiarize themselves with the business’ organizational atmosphere, products, services, and operational processes. It is important for a business to establish this familiarity to secure future business relationships with its customers, thus securing a future income for the business. The following will explain different definitions of marketing as well as elaborate on how marketing affects an organization’s success, including examples of marketing techniques used by businesses worldwide. According to the Merriam-Webster Dictionary (2012), marketing can be defined as “the process or technique of promoting, selling, and distributing a product or service.” A popular example of promotion includes the Coca-Cola Company that is well known for its Coca-Cola Polar Bear Campaign. These polar bears originally made their debut in a print advertisement in France in 1922. Until...
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...Paper Student Name MKT/421 June 10, 2014 Instructor Name Environmental Factors Paper Invented in 1886 by Dr. John S. Pemberton, an Atlanta pharmacist, Coca-Cola went on to become the world’s #1 selling sparkling beverage. Frank Robinson, who was Dr. Pemberton’s partner and bookkeeper, named the new beverage and designed the distinctive lettering which is still in use ("Coca-Cola History", n.d.). In 1916, it was decided there was a need to develop a bottle to set Coca-Cola beverages apart from imitators, and so the unique contoured bottle was born ("Coca-Cola History", n.d.). The distinctive lettering and unique bottle combined to form a highly recognizable and often used trademark. Fast forward 127 years, over 3,500 Coca-Cola products are available in over 200 countries ("Our Company", 2014), meaning the Coca-Cola Company is successful at considering the various effects and influences pertaining to global and domestic marketing. * Global Economic Interdependence, Trade Practices and Agreements * In many cases, foreign countries and their economies rely on each other more than ever. Some countries have an abundance of natural resources or raw building materials, while others focus on agriculture as the main source of their gross domestic product. This simple fact affects supply and demand for both types of countries. Country A needs oil and Country B supplies them with it. Country B needs produce items and Country A supplies them with it. Coca-Cola beverages are by...
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...What is marketing? Jennifer Nigro February 28, 2014 MKT 421 Henry Tran What is marketing? The first thing that pops into my head when I think of marketing is advertisement. There are many different ways to define marketing. One is defined as “the management process through which goods and services are moved from concept to the customer” ("What Is Marketing ", 2014). This also includes the four P’s. The four P’s are Product, Price, Place and Promotion. Another varying form of the definition of marketing is “the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.” (Mikoluk, 2013). From both source’s they use the four P’s. The company needs to identify the Product. This does not have to be an actual item. This can also be a service. The determination of the Price for the goods or service. We need to know the numbers for what the good or service is going to cost and then price it accordingly. If this is something that a leading competitor has then we need to see what they value the good or service as and model price it. A Place to present this good or service. If we are going to be using a product then we need to determine what type of location this will be presented in. The last P is Promotion or Promotional Strategy. As a marketer we need to develop and implement a strong promotional strategy to help launch or reinvent the good or service. For me marketing is how one company gets...
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...Environmental Factors Carl Thompson MKT/421 December 17, 2013 Deborah Angus Coca Cola is a well-known company all around the world. Coca Cola was founded in 1892 by Asa Griggs Candler. The Company is currently headquartered in Atlanta, Georgia. The company invented the popular soft drink with a unique cola taste. Coca Cola also make different brands of soft drinks such as Nestle, Dr Pepper, Diet Coke, RC Cola, Sprite, Fanta, Minute Maid, PowerAde, and Dasani. The market of the company is in beverage, and has good positioning as one of the top beverages in the world. The drink is sold in stores, vending machines and restaurant around the world. Licensed Bottlers have contracts with the drink around the world. It is important to consider environmental factors because they can possibly affect marketing both domestically and global. Factors can include cultural differences, demographics, physical infrastructure, social responsibility, trade practices, and economic interdependence. Global Economic interdependence: Interdependence can help a company’s understand relationships of mutual dependence between life forms and elements. Global economic interdependence is when economies of different companies are joined together in the formation of world trade. Different companies are so closely linked that if one were to fail it can affect all. Member countries of involved in the trades are required by the World Trade Organization to regulate of goods that are imported. World trade...
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...this is a well-written paper. 1.25 / 1.5 TOTAL: 9.25 / 10 = 93% Marketing Mix Lakesha Marshall MKT/421 March 24, 2014 Julie Morris Within this first portion of the Marketing Mix for Coca-Cola, this marketing paper will give an overview of Coca-Cola. The paper will describe Coca-Cola’s organization and its marketing strategy within the elements of the marketing mix. The paper will describe how the elements are implemented with the organization. The paper will also include research conducted on the organization on its marketing approach from its success while analyzing product, price, place and promotion. Overview of Coca-Cola “It was 1886, and in New York Harbor, workers were constructing the Statue of Liberty. Eight hundred miles away, another great American symbol was about to be unveiled” (The Coca-Cola Company, 2011). “Pemberton's bookkeeper, Frank Robinson, named the mixture Coca-Cola®, and wrote it out in his distinct script. To this day, Coca-Cola is written the same way. In the first year, Pemberton sold just 9 glasses of Coca-Cola a day” (The Coca-Cola Company, 2011). It was at this time that The Coca-Cola Company began its successful marketing. Today, the Coca-Cola Company is one of the most known companies in the world. One reason that Coca-Cola has been a successful company since its inception in 1886 is the way that the company has approached its marketing. The marketing efforts have consisted of...
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...Marketing Definition Paper University of Phoenix Mayra Gisela Santiago -Nieves MKT/ 421 Prof. Thelma González Arvelo 30 de julio de 2011 Marketing Definition Paper En el siglo presente es de vital importancia estar familiarizado con el significado de la palabra mercadeo que ha evolucionado con el pasar del tiempo, con los adelantos tecnológicos y con las necesidades que se le crean a los consumidores. La palabra mercadeo no solamente significa vender, su definición es más abarcadora y a continuación estaré mostrando diferentes definiciones. Según Armstrong, G., & Kotler, P. (2009). Marketing: An introduction (9th ed.). Upper Saddle River, NJ: Pearson Education: Mucha gente piensa que mercadeos es venta o publicidad. Eso es cierto, pero esas cosas son parte del mercadeo. Mercadeo es mucho más que venta y publicidad. Según Philip Kotler: mercadeo es el proceso social y administrativo por el cual los grupos e individuos satisfacen sus necesidades al crear e intercambiar bienes y servicios. Según el libro Mercadotecnia Sexta Edición Philip Kotler - Gary Armstrong: mercadeo es un proceso social en el cual grupos e individuos logran lo que necesitan y desean mediante la creación, oferta y libre intercambio de productos y servicios que otros valoran o necesitan. Según el libro Mercadotecnia Sexta Edición Philip Kotler - Gary Armstrong: mercadeo es serie todos los compradores, reales y en potencia, de un producto o servicio. Según el libro Mercadotecnia Sexta Edición...
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...Coca-Cola’s Marketing Plan: Phase III Laura Darby, Paula Coletti, Mira Walker, Victor Torres - Rosario, and James Rowan September 6, 2010 MKT/421 Henry Weber Product Life Cycle and Factors All products move through stages called the product life cycle. There are four stages that a product will follow. The stages are market introduction, market growth, market maturity, and sales decline (Cannon, McCarthy, & Perrault, 2009, p. 261). Different products will move through the life cycle at a different pace and there are certain factors that will affect its movement. “Kick’em Back” will begin in the market introduction stage of the product life cycle. Customers do not know about the product and are not looking for the drink. During this stage, Coca-Cola will likely lose money because they are investing in the product and receiving little sales. “Kick’em Back” should move quickly through this stage because Coca-Cola is a large, “well known” company, and they have many resources to advertise to the public. As “Kick’em Back” enters the second stage, market growth, sales will quickly rise. The company should move through the stage slowly because customers will be satisfied with the product and continue to buy it. As competitors begin to enter the market, they will try to copy the product or make it better (Cannon, McCarthy, & Perrault, 2009, p. 262). At the end market growth, sales and profits will decline for Coca-Cola. According to Cannon, McCarthy...
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...Defining Marketing Paper MKT/421 February 6, 2014 Philip Heckman Defining Marketing Paper * The first thing that comes to mind when one hears the phrase "Marketing" is selling or advertising. But marketing is much more than just selling and advertising, its objective is to satisfy and identify the needs of consumers. Marketing, in fact, refers to any activity undertaken by a firm that has been designed to plan, price, promote and distribute ideas, goods and services to target markets (Perreault, Cannon, & McCarthy, 2011). In view of this broad concern of marketing, it can be seen that the concept of marketing summarizes many activities in a business. These marketing activities were executed in order to create an exchange and sales that will result in the achievement of the proprietors' individual goals and the firm's goals, both in the short-term and the long-term. It is then obvious that marketing forms an integral component of organizational strategies. * According to the American Marketing Association marketing is defined as: An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders ("American Marketing Association", 2004). The Merriam Webster's definition of marketing is " (1) The act or process of buying and selling in a market. (2) The commercial functions involved in transferring goods...
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...Defining Marketing Paper Rebecca Schoenfeld MKT/421 8-8-11 Elizabeth Hartsig Defining Marketing Paper Marketing is a huge part of personal and business day-to-day life. People encounter marketing when they turn on the television, go to the supermarket, on billboards while they are driving down the road, and even at their jobs. Usually individuals opinions about marketing is they will think about the most popular business or products out in the world to date such as electronics, places to go, shoes, and clothing brands. In this paper I will be discussing my personal view on what marketing means to me, along with how two other out side source interpret marketing. Furthermore I will deliberate about the importance of marketing in organizational success. I will also be altercating three examples from different business worlds and how they incorporate marketing into their business. The definition of marketing reminds me of my workplace at Communication Test Design Inc. (CTDI). As a supervisor or manager, it is their responsibility to know exactly what the customer wants and needs. The feedback that they receive from our customers is what is important when refurbishing and selling the Verizon Fios set top boxes. This type of information goes in a weekly recap sent to the organization so that we can see what we need to improve to satisfy the customers needs. Knowing what makes the customer satisfied is what makes the company successful because we know that if our customer...
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...Defining Marketing MKT 421 Hector Marquez March 29, 2011 Lisa Siegal * Defining Marketing * * My definition of marketing is using different techniques and resources to promote a product or a service to the public so that he or she will purchase the product or service provided to build revenue for an organization or business. Marketing is more than just what is seen on television, on billboards, or heard on the radio it is understanding the product or service, competitors, and customers likes and dislikes. Marketing is a part of everyday lifestyle believe it or not. Marketing is working 24 hours a day seven days a week. While a person is pumping gas or just taking a swift walk in the park a product is being marketed to a potential consumer. If marketing was not part of a product or service how would consumers know what the product was or how well it is or is not. * According to Armstrong and Kotler (2009), marketing is a social and managerial by which process by which individuals and organization obtain what they need and want through creating and exchanging value with others. Businesses are using different techniques to get feedback from customers. For example, if you stop by the drive through of Jack in the Box and order a hamburger with onions, pickles, tomatoes, lettuce, cold medium soft drink and with fries you not only get a good meal but also with your receipt you...
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...MKT 421 Week 4 Blue Ocean Strategy Paper Blue Ocean Strategy - Introduction The blue ocean strategy in marketing is a unique approach to building a customer base. Rather than try to compete in a crowded marketplace with existing companies, a blue ocean strategy looks to build an entirely new market segment that has not other existing firms. With the rapid growth of technology and globalization, the importance of a blue ocean strategy has grown in recent years. The following essay will analyze the blue ocean strategy and offer suggestions on how it can be employed in the modern business environment. What is a Blue Ocean Strategy in Marketing? Companies must consider the four Ps of marketing when developing a new offering, which include product, placement, price, and promotion. In order to compete successfully, it is necessary to give consumers a certain value proposition. For example, a firm can offer a product at a lower price or at a higher quality than what is presently offered by other firms. But what if a firm could avoid having to deal with competition altogether? This is exactly what the blue ocean strategy attempts to do – create a new marketplace that is free of competitors. Marketers build an entirely new product or service that is currently unknown to consumers. It is necessary to thoroughly educate the public about the new product in order to gain interest and confidence. Once this has been completed, the new product will be positioned in point that provides...
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...Defining Marketing Martha Apuan University of Phoenix Marketing MKT/421 David Rubenstein June 17, 2013 Defining Marketing Marketing is essential for the success of a company. With the changing times and the advance in technology more products are being introduced to the consumer, however, before the consumer can purchase a new item he or she has to know it is worth buying. In this paper I will define marketing, providing my own definition as well as two other definitions from credible sources. I will also explain the importance of marketing in organizational success based on the definitions and provide three examples from the business world to support the explanation. Jay Levinson said, “If you don't believe in your product, or if you're not consistent in the way you promote it, the odds of succeeding go way down. The primary function of the marketing plan is to ensure that you have the resources to do what it takes to make your product work” (Entrepreneur, 2000-2013). Marketing Defined According to the textbook Basic Marketing, “marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need satisfying goods and services from producer to customer or client” (William D. Perreault, 2011, p. 6). The American Marketing Association provides this definition, “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and...
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