Shavoca Turner MKT/574 April 16, 2023 Glen Riecken New customer segments Coca-Cola is a global brand, appealing to a worldwide audience. The Coca-Cola target consumer is both male and female, covering almost the entire socio-economic spectrum, from average to high income earners. The Coca-Cola target market focuses on an older demographic specifically with the popular Diet Coke product, which offers a sugar-free option for diabetics and health-conscious consumers. The broad target market of the Coca-Cola brand is also reflected in the range of packaging sizes and styles that cater to families, celebrations and on-the-go consumption of smaller bottles and cans. Coca-Cola demographics segmentation includes a broad age range of younger to mid-life consumers, from 10 to 40 years old. This demographic covers kids and teens, singles, younger adults still living at home and those who live alone, newly marrieds, married couples without kids, with young children or with kids in their teen years. (Start IO, 2023). Marketing Mix for New Customer Segments Products Coca-Cola's brand ranges over 200 worldwide and can be found in 200 plus countered and territories. The company focuses on a marketing mix for strategic planning. Beverages such as Minute Maid, Diet Coke, Coke Zero, and sprite can be purchased in assorted size, amounts, and wrappings, presenting considerable proceeds. Price
The product that has given the world its best-known taste was born in Atlanta, Georgia, on May 8, 1886. Dr. John Stith Pemberton, a local pharmacist, produced the syrup for Coca-Cola, and carried a jug of the new product down the street to Jacobs' Pharmacy, where it was sampled, pronounced "excellent" and placed on sale for five cents a glass as a soda fountain drink. (Coca-Cola Company, 2023). It is noted that Coca-Cola had to keep the prices steady as the competition were on the rise, this brand being known most as Pepsi. Distribution Coca-Cola has partnered with bottling companies in Africa, Europe, Latin America, and North America to name a few. By taking on these partners Coca-Cola can stabilize long-term growth in markets that are distressed and face mass structural or investment troubles. In January 2006, our company owned bottling operations were brought together to form the Bottling Investments Group, or BIG. BIG was created to ensure those bottling operations receive the appropriate investments and expertise to ensure their long term success. (Coca-Cola Company, 2023). Traditional Promotion Coca-Cola is the gold standard in terms of advertising and branding. Coca-Cola's promotion strategy focuses on aggressive marketing through ad campaigns using media channels such as television, online commercials, print media, sponsorships, and so on. Coca-Cola sponsors important events such as American Idol, BET Network, NASCAR, NBA, NCAA, Olympic Games, and FIFA World Cup, among others. Coca-Cola also airs commercials on television in a variety of national languages around the world. Coca-Cola started the "Taste the Feeling" campaign in India in March 2016, intending to remind people of the joy and happiness that Coke delivers to their life. Coca-Cola has evolved into a mass-market product that is expected to be available at any time, anywhere. (Iide CO, 2023). Online Promotion Coca-Cola has had much success in utilizing telecommunications for its online promos. Social media, paid advertisements, and broadcast have given the company an upper hand to get its advertising in the
public eye. Using apps like Instagram, Facebook, and Twitter allows the company to advertise through streaming channels. The company's main communication is done via email and video streaming. Marketing Implementation The definition of market segmentation is the process of dividing prospective consumers into different groups depending on factors like demographics, behavior, and various characteristics. Market segmentation helps companies better understand and market to specific groups of consumers that have similar interests, needs, and habits. The Street, 2023). Coca-Cola's focal point falls under geographic, demographic, and psychographic. The geographic segmentation has a focus on marketing in various cities, divisions, and districts with an emphasis on the metropolitan areas. As the company extends it must take in account the need for those who reside in agricultural areas. Demographic segmentation has capacities of household size, durations, and ethnicity. The capacities help the company identify the targeted consumer assemblage. Psychographic segmentation allows the company to focus on the targeted assemblages broken into sections like tradition and persona. The behavioral segmentation focuses its attention on consumers critiques and satisfaction. This segment tally's the varying reactions from the consumer and the perspectives they can convey to the company. It is said that the behavioral parameters can be a promising foundation. Marketing Communication Channels Channel Target Market Advantages Disadvantages TV i Households and purchasers Ability to grab a certain assemblage TV advertising can become expensive to promote Social media Adolescence Lucrative Lagging return on capital
Channel Target Market Advantages Disadvantages Radio All buyers Expanding the trade and reaching greater assemblage Down marketed cost Billboards All buyers Increases targeted audiences for citywide drivers and Interstate drivers Down marketed cost in a 30-day period and Rural area costs can increase Newspaper Age restrictive to 18 years of age and up Customary and enhances appeal by using coupons Advertisement can become costly bases on days ad is ran. Sunday's trending pattern to be more costly Email Earner Direct coupons to purchaser Down market and reasonable returned replies Strategic Actions
Action Date for Completion Person/Role Responsible Standard/Metric Assemble social media advertising 6-month goal with tentative date 10/01/2023 2021 Streaming marketing associates er Confirmed with appropriate channels such as CEO, VP, streaming executive, and legal executives marketing team and legal Digital promo 8-month goal with tentative date 12/01/2023 Streaming marketing associates Confirmed with appropriate channels such as CEO, VP, streaming executive, and legal team Audio responsive communication 10-month goal with tentative date 02/01/2024 Sales assistant Confirmed with appropriate channels such as sales director and promo executive Brochures/Flyers/Mail solicitation 12-month goal with tentative date 04/01/2024 Illustration division Confirmed with appropriate channels such as illustrations executives and legal executives
Marketing Action Target Person Responsible Inter-measurement Assemble social media advertising r 1,000,000 clientele s Streaming marketing associates 600,000 gained clientele in a 30-day period h of campaign Digital promo 40,000 clientele Streaming marketing associates 5,000 gained clientele in a 30-day period Audio responsive communication 45,000 clientele Sales assistant 2,500 gained clientele in a 30-day period Brochures/Flyers/Mail solicitation 500,000 fresh queries District executive and illustration executives 100,000 fresh queries within first quartile movement References: Start IO. (2023). https://www.start.io/blog/coca-cola-target-market-segmentation-customer-analysis
Coca-Cola Company. (2023). https://www.coca-colacompany.com/company/history/the-birth-of-a- refreshing-idea Iide.CO. (2020). https://iide.co/case-studies/marketing-mix-of-coca-cola/ The Street. (2023). https://www.thestreet.com/markets/corporate-governance/what-is-market- segmentation- .
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