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Evaluation Of Key Element Of Marketing Functions

Organization Selected : Coca-Cola

INTRODUCTION

Marketing is the study and administration of exchange relationships. It is used to create, keep and fulfill customer demand. It seems to be a premier element of business management. The action or business for promoting and selling goods and services consists of market research and another crucial mode. To become more successful in the business company must be able to attract and retain customers for a longer period of time. On the other, it is considering as social process through which an individual can obtain vital information and requirement of customers from the company. This project module aims to discuss marketing tactic of coca cola company by using key role and responsible of marketing functions. Specific role and duties of marketing associated to the larger organisational aspect. Apart from this, comparison of various ways in which two organisations is using marketing mix in their daily operations. Likewise, a well organise marketing plan is being drawn through using various vital information about the Coca-Col

TASK 1

P1: Key role and responsibilities of the marketing functions

The market is the place in which product and services can be sold to customer as per the demand of them. This seems to be more crucial activity for an organisation to satisfy various customers by offering them wide range of homogeneous products at the same point of time. The primary role of marketing manager to search for the appropriate desire of different types of customers by doing certain kind of research work. It will assist them to reach at certain stage and to get more profitable opportunities in near future time. This will help Coco-cola company to build superior image or brand, convincing people that products of our company is far better than other (Wertime and Fenwick, 2011).

Definition: According to Kotler- “Marketing is said to be management process for examine, anticipating and satisfying client requirements in more effective manner”.

It is based on thinking regarding the business in respect of customer requirement and their overall satisfaction from the market. It is much different from selling because it is not related with the value that the exchange related with them. It happens to be utmost vital activity or process through which product and services are move from business to associated customers. It is more reliable job that consists of encouraging people to purchase product as per their choice which can fulfil their needs and wants at the same period of time.

Important of marketing for coco-cola.

It has been seen that marketing activities are made to attain at least 30% of total net profit as its primary objective. As it has been said that Coca-Cola company is utmost important producer, distributors and dealer of non-alcoholic drink concentrates and syrups. Some crucial benefits are:

  • It assists in the transfer, exchange and movement of product: As per the mentioned case, it has been observed that coco-cola marketing is more useful in selling product to wide range of customer in more reliable manner (Malhotra, Birks and Wills, 2013).
  • It creates employment: It is seen that marketing is more complex tool that consist of people in one form or the other. Coco-cola company is largest producers of cold drinks that estimate about 40% of total population is directly and indirectly relies upon this company.
  • Marketing function: It is known as one of the effective types within a wider business that might consist performing market research, producing a marketing plan and development of product. A role of manager to assist a company to examine and sources of potential successful goods for the marketplace.
  • Distribution: It is known as providing product and services to various customer as per the use of effective distribution channel. It is one of the useful function of marketing which is related with the product and service availability for customer and business people that need them. It done directly by the producer and services provider and using indirect channel with other intermediaries. Coca-Cola company used to sell their products to bottling and canning department, distributers, wholesalers and other retailers.
  • Market analysis: it is known as one of the crucial studies that used to attract and dynamic of valuable market within a special sector. It is important part of Coca-Cola analysis and hence in turn of international environmental analysis. It will have used to determine best market demand and sources would be reliable for increasing maximum growth in coming time (Macarthy, 2018).
  • Market segmentation:This process for making and changing data regarding company catalogue of offering is taken into account in more reliable manner. It is the effective procedure for categorising marketing of potential customer into small group or segment based on nature and their characteristic.
  • Pricing: The another crucial function of marketing is related with the product pricing which will be affordable to everyone. It would assist great chance for attracting maximum people toward their own business. It can be uses as variety of pricing plan for attaining more profit in an accounting period of time. Coca-Cola is using product line pricing which set the price process among various product in a same product line.

M1: Analysis of role and responsible for marketing in respect to the marketing environment

There is a certain crucial aspect that is needed to be taken into account some of them are mentioned underneath:

  • Political and regulatory environment: It is important for the department to make use of legal rules and policies for the production of product. It is assist them to control business activities and avoid undesirable results or other externalities at the same time.
  • The economic environment: Coco-cola products are sold to various nations. These particular nations are having different nature, culture, taste and desire which is taken into account in effective manner.
  • Competitive environment: It has been seen that plenty of other companies those are also dealing in sale business. Such as Pepsi which is major competitor of Coca-Cola. It would make huge impacts on the productivity as well as the brand of the company.
  • Technological environment: In order to increase maximum sales machinery, help coco-cola product in better manner. They are having social media technology to connect with audience.
  • Social and cultural environment: Majority of product of Coca-Cola is sold out in cultured nations. They meet the demand of various customers at the same time. Maximum number of people have the job opportunities which is created by this company.

D1: Critical analysis and evaluation of key element of marketing functions

Marketing is said to be appropriate study and exchange relationships among various functions that are related with the Coca-Cola business. It is used to determine the marketing aims and objectives in more effective manner. It can be short term or long term and required a clear method. There is direct connection among market analysis, segmentation and pricing with the various department of the company. The role of HR department is to organise all necessary resource by conducing market research for analysing demand of customer. While Finance department is operating in order to make proper supply of funds for expanding business in various market as well as setting prices for the products that are produce by Coco-cola. Overall management can be done by operations managers.

P2: Role and responsibilities of marketing associated to larger organization

Coco-cola company is known as world leading producer, marketer and distributors of various products and non-alcoholic beverage. It is associated with almost 400 beverage brands during an accounting period of time. There international marketing planning of this company is known for their products. The main bottlers of non-intoxicating beverages in Europe. This business is busier in the production, sales and sharing of the products of coco-cola company. They have bare tactics to develop maximum profit in developed market, nation in the UK through low place products like power drinks and other fruit flavoured products.

Importance of marketing for Coco-cola

It sells a wide variety of sparking and beverages in various parts of the nation. It would have incurred a total of 60% of total revenue and regarding 80% of their operating profit from global market. It has strong brand image across the nation. As per the business researcher, almost 94% of the total population is conscious about red and white colour symbol of coco-cola company (Fill, 2011). Similarly, it is used to make use of mix of homogenous and bulk marketing plan as well as niche marketing for few products in respect to drive sales in the highly competitive market. Some crucial important of marketing is mentioned underneath:

  • People: They are planning to attract maximum people by offering new jobs and make convince them that all coco-cola is one of the appropriate place to develop their career.
  • Portfolio: It is important for the company to make effective portfolio image that can inspire to be the best they can be as compare to other one.
  • Profit maximisation:Another crucial benefits of using marketing method is to sale maximum products and increase productivity of the company at the same time.
  • Cost control: There is diversified range of product portfolios, outstanding operations and economies of scale that assist it in cutting their operational cost and increase their gain within an accounting period of time.

Structure and operation of an organization:

A structure is primary base of any business concern. There are various crucial department that can assist them to increase growth and stability of internal and external aspects those are related with the coco-cola company. It consists of various department such as:

  • Finance: It is considering as one of the life blood of the company. The role of finance department is to arrange specific funds various sources that can assist them to organise resources and increase maximum sale during the time. By doing so they can easily be able to attain more earning within a short span of time. It is always ready to control and organise necessary capital for the company in case, it is lacking behind in term of production of product and services.
  • HR: It is concern with the all issues of managing resources and people in the organisation. The role of human resources department is for many people those are associated with production of product and services in effective manner. All kind of meeting, salaries and other compensation and requirement of the company can be fulfilling by the HR department of Coco- cola company.
  • Marketing: It play a dominate role in making promotion of business product and mission of Coco-cola. It is job of marketing department to reach out and search various customer, investors and community and create specific image that can represent coco-cola company in positive ways. They can easily be able to increase the reputation and brand image of an organisation at the same point of time (Lusch and Vargo, 2014).
  • Customer services: They are operating for the resolving all kind of issues and queries that are associated with product and after sale services of product from the customer side. The role of customer services agent is to interact with a company’s client and deliver them with information to ask about any kind of inquiries associated with product and services that are offered by Coco-cola company. They mainly used to provide and resolve problems by using telephone call and emails.

Interrelationship with the other activity:

It has been considered that marketing is not only wider that selling, it is not a specialised activity at the same point of time. The entire business seen from the point of view of last outcomes that is form the customer point of view. Because at the end every organisation need to implement their strategies as per the demand of customers. Although the marketing function is basically carried out by the experienced department, marketing thinking need to be operate in order to get more benefit in coming period. There are certain activities that are needed to be taken into account as the marketing manager. Such as;

  • Operation management: It the duties of marketing department to look closely with production administration to ensure that adequate research and development can be planned to fulfil demands of customer. It would be manufactured of best quality and design in that manner which can attract maximum people.
  • Finance department: Another vital activity of the marketing department is to arrange adequate amount of budget to meet the needs for research, promotion and distribution. The marketing department is more likely to concentrate on over sale volume and formulate strong market in respect to other organisation (Gummesson, 2011).

M2: Analyse the importance of interrelationship among marketing and other functional units

The organization structure is used to determine positive relationship and interaction among the parts of their business and follow chain of command. Most of the business used to follow functional structure, it has the benefit of clear line of authority with key decision makers in every department that are set out as overall mission and activities. Divisional structure that spreads various functions across different branches of Coco- Cola company. All the department such as HR, marketing, operation and finance are equally related with the producing more reliable and profitable products as per the demand of the customers. Marketing used to play vital role in Coco-cola business without having appropriate strategies they cannot be able to attract customer toward their own business.

TASK 2

P3: Compare ways in which two organisations use marketing mix for planning

The Coca-cola company aims to be internationally known, they reached at that place by targeting various areas across the nation and with wide product verities. All these are done only with setting right objective as well as mission or vision.

Objective:

The primary objective for coca-cola company is to be internally known as the business that used to conduct business responsibility and to enhance sustainable growth in near future.

Importance for coco-cola:

There is various vital significance of using marketing strategies in coco-cola company. They are always tried to increase the product capacity through using appropriate planning by using innovative ideas (Cooper, 2012). Marketing will lead to make better understanding of resources that are effective responsible for attaining maximum benefit in near future time. It is crucial to any business to make use of marketing in right manner. There are certain useful aspects that are needed to take into account to keep the consumer informed regarding new products and services those are available to the company. Produce loyalty and trust with both present customer and prospect that are valuable for an organisation.

Marketing mix: It is known as appropriate set of marketing tools that a company uses to pursue their marketing objectives in their vision statement. Henceforth, the marketing mix used to be four border level of strategies which will be effective helpful enough to make planning for the product and services that are being delivery by Coco-cola company to its customers. It consists of various parts which would be divided into 7ps of marketing. It would be considering that modern needs of the business have been entered in all most every product can be ranging from energy drink and juices etc. All of them are mentioned underneath:

  • Product: It has been found that as a bottling organisation, coco-cola used product line as strong mind that are offering their think producers. Some crucial products like,
  • Carbonated soft drinks: coco-cola, diet coke, sprite, Fanta and mountain dew.
  • Non-carbonate soft drinks: Capri Sun, Arizona teas, Nestea, water, Kinley, energy drinks and so on (McDonald and Meldrum, 2013).
  • Price: Because of availability of wide range of product the pricing is done as per the market and geographic areas. Every product that are divided as the sub-brand of coco-cola has different prices.
  • Place: It used to determine that location where a product can be buy. It is more often referred as the appropriate distribution channel by which they can be easily related with increase product base (Preston, 2012). It is available at physical store such as supermarket, departmental store as well as malls.
  • Promotion: It is the utmost crucial aspect for the department to make use of best promotional channel that make them profitable for the company in long run. There are various methods such as personal selling, advertising, public relation and other mode. Most of the time coco-cola company uses TV, holdings, newspaper and many more to promote their products in the market.
  • People: The key aspects for the development is related with the quality motivation and providing reward system to determine employee’s requirements. They used to monitor all financial and non-financial motivational incentive as the personal development in order to get maximum growth chances in near future time.
  • Process: It is associated with the refreshing taste, beverage categories and optimistic aspects of life. Their packaging has also assist in increasing their brand value due to their being convenient as possession and insertion in freezers.
  • Physical evidence: It is known as the crucial element of services mix that allow the customer again to make decision on an organisation. It is associated with important aspects such as when a person used to walk into a hotel or restaurant and they expect clean and eco-friendly environment (Baser and Buchbauer, 2015).

Application of marketing mix is needed to be taken into account as appropriate strategies that are needed to uses for customers. It will helpful to dividing product and services of Coco-cola according to their demand and size.

M3: Evaluate various tactic applied by organisation

Marketing mix

Coco-cola

Pepsi

Products

Coke, Thumps-up, Diet coke, Fanta and Maaza etc.

Pepsi, Diet Pepsi, Miranda, Tropicana and Lays, ruffles etc.

Price

Earlier cost based pricing. They are spending more on advertising than production.

More flexible to come down with the price in more quickly.

Place

Sales and distribution is being controlled through a wide number of bottlers. It is available at 60distribution centres, 20 contract packers and other retail outlets.

Pioneer in more use for vending machine and departmental stores. Placed in wide cities every destination of the countries.

Promotion

TV, Social media and newspaper etc.

It is positioned as the latest cool youth icon.

D2: Strategies marketing plan that tactically applied use of 7ps to attain marketing aims

In accordance with making appropriate marketing strategies coca-cola company can be able to make effective plan for increasing their product in the various markets. The 7ps of marketing mix can lead to increase the overall growth and objective that are being set by the company for the long period of time. Every marketing plan is the crucial part of the business. It is consider as detailed and complete document that used to cover all marketing-related activities of Coco-cola (De Mooij, 2013).

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CONCLUSION

This project concluded all essential aspects that are related with the marketing requirement. It is important to make use of appropriate strategies and decision that are beneficial for long period of time. However, various role and responsible of marketing function in context to an organisation are discussed effectively. All the important factors those are related with environment are mentioned properly in this report. Every analysis is done to reach at specific solution in a given set of time.

You may also like: Roles And Responsibilities of the Marketing Function

REFERENCES

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