Coca Cola: the marketing strategy that made us hold a brand in our hearts – E-portfolio
The product isn't that spectacular so how do they stay on top of the market for that long? Coca Cola has invested enormous amounts in relationship The Words Used in the Campaign Are a powerful Call to Action. Coca Cola uses competitive positioning strategy to be way ahead of its portfolio, Channel marketing, Collaborative customer relationship. (4) the telemarketing system, which could be combined with pre-sales visits and. Coca-Cola marketing strategy is one of the most complete and diverse strategies today. to reach the magnitude of Coca-Cola, but using the right marketing strategies may give Coca-Cola focuses on improving the community relationships and On the other hand, if the prices will drop, it might make customers doubt the.
With this strategy, Coca Cola depends on their costumers to grow the company via their love for the product. We will now discuss two of the biggest campaigns Coca Cola that Coca Cola has done in Belgium based on emotional actions: Red trucks speed through a little town covered in snow, lighting up the Christmas lights as they go.
Coca Cola has connected these trucks and especially Santa Claus to their brand that they cannot go without anymore. These 2 symbols signal the start of the holiday season each year.
- Relationship Marketing – Coca-Cola in India
- Coca-Cola Marketing Strategy: Recipe for Success
It even goes that far that a lot of people believe that Coca Cola invented Santa Claus! Additionally, consumers could share their experiences and stories on Twitter with the hashtag ShareaCoke. The way Coca-Cola uses Twitter is quite unique. They spend a lot of their time replying mentions. So, as Nikesocial media is a vital part of the Coca-Cola marketing strategy. Pinterest — The way, that Coca-Cola uses Pinterest is quite entertaining.
Coca-Cola Marketing Strategy: Recipe for Success · Inevitable Steps
Rather, than focusing on marketing messages, Coca-Cola simply gathers images that are somehow related to the Coke, itself. They do have about 2M followers, but they are less active, compared to Facebook and Twitter. Furthermore, the fans are also less engaged, than on other social media.
Advertising — The best part of the Coca-Cola marketing strategy is advertising. Coca-Cola is often addressed as a revolutionary organization that had a significant impact on the American culture. The relationship is maintained by stating the facts and giving the necessary information to the customer.
Coca-Cola data chief on the art of connecting with customers
Relationship marketing takes part of the risk to prevent any risk that the buyer may encounter from the selling and buying experience. Marketers should not subscribe to the caveat emptor principal because it makes the relationship between the seller and the buyer deteriorate. Inks, Avila and Chapman found that buyers are more ethically sensitive to unethical behavior. Buyers have stronger negative reaction to lying when this lying was from the seller; however, the buyers were less sensitive to their deceit lying because they justify it with the resulting low price.
Managers should abandon old ideas when they become a threat to the organization but learn that failures are opportunities to learn. Peter Drucker stated that the organizations profit is necessary to supply capital for future innovation and expansion Drucker, Chiung-Ju and Wen-Hung listed different tactics the retailers use to enhance customer loyalty that branch from financial, social and structural bonding activities.
Financial bonding includes discounts and interest rate. The final tactic is structural in which the organization set up rules, policies and procedures to structure its relationship with the customers. Customer loyalty is important because almost all of the companies had lost a top customer to a competitor in the last three years Carter, The most important finding of Carter survey was the strong link between customer retention and customer satisfaction.
On the contrary, East, Hammond, and Gendall state that customer retention importance is overvalued and companies should target customer acquisition strategy.
Customer retention strategy gains are less than customer acquisition according to East, Hammond, and Gendall People take the gratitude role when they receive benefits and suffer the guilt of not repaying the favor to the other party so the at least remain loyal to the favor maker.
Roehm and Brady state that half of the researched customers switched brands because of a service failure or inappropriate response from the.
One of the main functions of CRM is to provide the organization with a single view of the customer, in which view the information may be split into different disciplines and categories Tuck, Tuck state that CRM should be managing customer relationship but lately CRM became associated with software packages and the difficulty of setting one up.
Tuck claims that CRM projects shifted the organizational focus to deploying and operating the software package instead of targeting business processes that would deliver the segmented information in a useful way to the organization. Crosby and Caroll III realized the difficulty in the customer management and suggested the following guidelines to help the organization better manage its customers: Set clear customer strategy to better serve the customer.
These strategies would help serve and retain the customers. The three articles discuss the ease in losing the CRM focus to other unrelated issues like setting up the CRM software package or forcing the CRM program into an organization although it is not ready for the change required for CRM program. The purpose of this case study is to identify key leadership factors to build a strong international relationship marketing plan for foreign markets.
Indian customers are consuming beverages that contained harmful substances without the knowledge of such contamination. Coca-Cola selected not to do the standard tests and when the tests were done the results were not published to the customers. The bottling plants are consuming scarce resources and contaminating the surrounding agricultural land. Coca-Cola implemented its bottling and distribution model in India with good success but while damaging its brand name, at least locally, and losing many customers to the local competitors.
Coca-Cola should implement a well structured customer relationship management to polish its brand name and act ethically similar to the way it does its bottling and distribution in U.
The suggested relationship management effort should be customized to the Indian culture and address the political and religious differences in the local area.
The research limitations were its dependence on secondary data only without conducting structured interviews with the local customers. However, the research finding may be applicable to the neighboring countries if a soft drink company wishes to start a business in India and surrounding countries.Coca-Cola's Success Story