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“To identify different techniques which can be used by marketing managers for promoting an existing product within a different region: A case study on Coca-Cola”.
Each and every organization needs to adopt appropriate strategy to expand its business at national and international level. There are number of strategies which can be used by organization for introducing new and existing product in present and new market. The current research study is based on determining appropriate strategy which can be used by marketing manager of an organization for promoting its existing product in different region. The current research has chosen Coca-Cola which is one of the leading organization of United States and provide appropriate contribution in economic development of the nation (O’Guinn, Allen, Semenik and Scheinbaum, 2014). It is operating its business in all over the world and offer long range of products and services to its customers. For attaining research objective the current investigation will follow a very systematic process. This process will comprise literature review, research methodology and data analysis chapters. All these segments of investigation process will help in getting appropriate solution of the research problem.
Coco-cola wants to expand its business in different countries. It uses appropriate methods and strategies for business expansion. Recently it has introduced “Minute Maid Pulpy Pear” product in market of China. This product has got planned success in this market now organization wants to launch the same product in Indian market (Yamu, Voigt and Frankhauser, 2014). But, still there are some issues about the marketing strategies of the company for this purpose. There are different tools and techniques of strategic planning such as Ansoff matrix, BCG matrix, Strategic map, Porter’s generic strategies, etc. All these models can be used by different organization for strategic growth of an organization (The Coca-Cola Company, 2016)
Number of organizations are facing issue in promoting existing products and service in the new market. Inappropriate strategy leads failure of the strategic implementation in the new market. Due to this reason organization does not get appropriate success in product launch. It is an issue because management of the organization does not analyze each and every strategic option in effective manner. It is an issue now because Coca-Cola has launched number of existing product in new market in past but only few products get planned success. Now it wants to launch Minute Maid Pulpy Pear in India. So, researcher wants to resolve this issue in effective manner and wants to suggest appropriate technique for promoting Minute Maid Pulpy Pear in new market. Regarding this researcher will shed light on number of strategic tools and techniques which are appropriate for this organization.
“To identify different techniques which can be used by marketing managers for promoting Minute Maid Pulpy Pear in India: A case study on Coca-Cola”.
As per the research objectives author wants to determine appropriate strategy which can be used by marketing manager for promoting existing product in new market. So, identification of the suitable technique for promoting Minute Maid Pulpy Pear in India is the major purpose of the research. For fulfilling this purpose researcher will focus on different tools and techniques of strategic planning. Along with this, focus will also be given on major advantages and disadvantages of different growth strategies for promoting existing product of Coca-Cola in India. Research will shed light on most appropriate technique which can be applied by marketing manager of the company for the same (Spence, McNaughton and Campbell, 2013).
The current dissertation will follow a very systematic structure of different chapters which will help in accomplishing the whole investigation in appropriate manner. Structure of the current research is as follows:
Author will use appropriate methods for identifying appropriate techniques for promoting Minute Maid Pulpy Pear in India. Brief discussion of these methods are as follows:
Accomplishment of the current investigation will be very significant for number of research scholars who wants to conduct investigation on similar subject of promotion. Along with this, it will be also beneficial for management of Coca-Cola because they can use the suggested strategies for pro0motijng Minute Maid Pulpy Pear in India. Along with this, it increase the future scope of the investigation on growth strategies and promotion strategies. Including this, current study is significant for organizations of other industries also if they want to promote their existing product in new market (Spence, McNaughton and Campbell, 2013).
Promotion of products and services is very important for each and every organization. It helps in increasing awareness of customers which leads augmentation in total sales of the organization. But it is very difficult to identify appropriate strategy of promotion for specific product of the company (Peeters, Clements and Gilmore, 2012). Major aim of the current investigation is determining different techniques which can be used by marketing managers of Coca-Cola for promoting Minute Maid Pulpy Pear in India. The current chapter focuses on historical investigation on similar subjects which have conducted by different researcher in past. Therefore, literature review will comprise historical studies relevant to promotion, tools and techniques of promotion, different strategies which can be used by organizations and their impact on companies (Ngai, Peng, Alexander and Moon, 2014). Historical articles of these subjects will help in selecting one specific strategy of promotion for Minute Maid Pulpy Pear in India.
Turco, 2015 has concluded that “Promotion can be defined as set of activities which help in communicating product, brand and services to users” (Turco, 2015). Similarly, Cosentino and Baker, 2015 has stated that “Promotion can be defined as an idea which helps in increasing awareness of customers about products of the organization” (Cosentino and Baker, 2015). Moreover, Goodall and Ashworth, 2013 has concluded that “Promotion of products and services helps in attracting customers to buy product of the company in preference of others” (Goodall and Ashworth, 2013). As per all these statements, it very important for an organization pot promote its existing and new product for launching local and international markets. Including this, Andrade, Hastings and Angus, 2013 has said that “Promotion is beneficial for advertising and marketing of products and services and developing strong brand position in market” (Andrade, Hastings and Angus, 2013). There are different tools and techniques which can be used by organizations for promoting their products. McMackin, Dean, Woodside and McKinley, 2013 has determined different techniques of promotion for organization, such as advertisement, press release, customer promotion, trade discount, sales promotion, etc (McMackin, Dean, Woodside and McKinley, 2013). but, each and every organization needs to select appropriate techniques of promotion as per the characteristics of products and services.
O’Guinn, Allen, Semenikn and Scheinbaum, 2014 has asserted that “Technology is changing day by day which is affecting each and every department of the organization so, it has direct impact on marketing and promotion activities of the firm” (O’Guinn, Allen, Semenikn and Scheinbaum, 2014). There are different techniques and methods in which organization needs to sue latest technologies for promoting their brand for example, digital marketing. Kwakkel, Walker and Marchau, 2012 has concluded that “Technological promotion methods requires skills and knowledge as well as huge amount of investment, etc” (Kwakkel, Walker and Marchau, 2012). As per this investment for effective promotion organization needs to select appropriate techniques else it will affect individual as well as financial performance of the whole organization. So, before selecting any techniques organization needs to focus on all advantages and disadvantages of that particle methods for whole organization and product. Spence, McNaughton and Campbell, 2013 has stated that “promotion of product is important for increasing brand awareness and providing information of product to customers” (Spence, McNaughton and Campbell, 2013). Likewise, Yamu, Voigt and Frankhauser, 2014 has concluded that “promotional methods play significant role in increasing customer’s traffic and building sales and profitability for organization” (Yamu, Voigt and Frankhauser, 2014). But on the other hand, Wilcox, 2012 has provided contradict views on promotion which have described that “Promotion increases the cost of organization because of the huge investment in technology” (Wilcox, 2012). As well as, Ying and Pheng, 2014 has concluded that “promotion increases the requirements if skilled and experience employees which also augment the total cost of the company” (Ying and Pheng, 2014).
Oteino, Culhane and Dowling, 2013 has concluded that “Promotion is one of the important task for marketing department of an organization, so, company needs to use appropriate tool for the same” (Oteino, Culhane and Dowling, 2013). Agarwal, Grassl and Pahl, 2012 has stated that “Marketing mix or 4Ps are considered as important tools of promotion” (Agarwal, Grassl and Pahl, 2012). According to this statement, organization can develop promotional strategies using marketing mix model. This tool helps in selecting suitable strategies for new and existing products and services in local and global market.
Marketing Mix Model:
Henriksen, 2012 has stated that “Marketing mix can be defined as a set of controllable, tactical marketing tool which can be used by an organization to produce a desired response from its target customers” (Henriksen, 2012). As per this statement, marketing mix plays important role in improving marketing and advertisement of an organization as well as also beneficial for increasing the customer’s response towards products and services of the firm (Mydin, 2015).
Figure 1: Marketing Mix
Huang, 2013 has stated that “Marketing mix include number of strategies which can influence the demand of products and services of the firm” (Huang, 2013). Along with this, Strategies to Promote Growth, 2016 has asserted that “It is a tool for developing a marketing plan and executing it in effective manner” (Strategies to Promote Growth, 2016). In contrast, Kaur, 2014 has concluded that “Most of the organizations use marketing mix for defining overall direction and goals for marketing of products and services of the firm” (Kaur, 2014). Overall, marketing mix can be used by organizations for developing marketing plan and introducing most appropriate strategies for promoting products and services in new and existing target market (Yamu, Voigt and Frankhauser, 2014).
Spence, McNaughton and Campbell, 2013 has found that “Product, price, place and promotion are major attributes of marketing mix which helps in developing marketing strategies of an organization” (Spence, McNaughton and Campbell, 2013). Similarly, Cosentino and Baker, 2015 has concluded that “Using these attributes organizations can turn their strategy into reality in their marketing plan” (Cosentino and Baker, 2015). Overall, marketing mix plays import at role in setting marketing objectives, identifying tactics to reach target market. Along with this, it is also beneficial for meeting and satisfying needs of customers by offering appropriate products and services (McMackin, Dean, Woodside and McKinley, 2013). Marketing mix of products and services of an organization include the following elements:
Overall, marketing mix is one of the important tool for developing strategy of promotion for products and services of an organization (O’Guinn, Allen, Semenikn and Scheinbaum, 2014). So, any organization which wants to launch its existing product in new international market needs to focus on all attributes of marketing mix.
Kwakkel, Walker and Marchau, 2012 has concluded that “Product promotion is one of the important requirement for launching any existing product or brand in front of the public and attracting new customers” (Kwakkel, Walker and Marchau, 2012). As per this statement organization needs to select appropriate promotional strategy for launching products and services in international market. Turco, 2015 has stated that “There are numerous way to promote products and most of the companies use more than one way for the purpose of marketing” (Turco, 2015). Huang, 2013 has concluded that “Promotional mix is important tool for introducing promotional strategies for launching any product” (Huang, 2013). It includes different strategies such as advertisement, sales promotion, direct marketing and public relations, etc.
Figure 2: Promotional mix
Following promotional strategies can be used by an organization at the time of promoting existing product in new international market:
There are different other promotional strategies also which may affect the overall promotion of products and services. Market penetration is also one of the important strategy which helps in attracting customers at the time of launching products and services in international market (Ying and Pheng, 2014). As per this strategy, at the time of launching organization needs to charge low price for products and services because it will help in attracting customers and increasing sales of the firm. Therefore, all the above discussed strategies help different organizations in promoting their products and services in global market (Marketing Promotional Tools, 2016).
Henriksen, 2012 has concluded that “Promotion strategies are beneficial for increasing brand awareness of products and services in customer’s mind” (Henriksen, 2012). Along with this, Wilcox, 2012 has stated that “Promotion activities of the company attracts number of customers which plays important role in raising sales of the organization” (Wilcox, 2012). Likewise, Kaur, 2014 has stated that “promotional tools and strategies help in providing all necessary information to customers about features of products and services” (Kaur, 2014). In addition, Peeters, Clements and Gilmore, 2012 has said that “Increment in customer traffic is also one of the major advantage of Promotional tools and strategies” (Peeters, Clements and Gilmore, 2012). Overall, organization promotional program helps in raising sales and profitability of the firm. But, all these promotional programs require huge amount of investment in marketing and advertisement which may affect sales and financial performance of the firm in negative manner. Along with this, for managing promotion organization needs to hire personnel with skills and knowledge of marketing. It will raise human resource budget of the company (Huang, 2013). So, promotional strategy helps in increasing awareness of customers about products and services of the firm.
Review of literature has concluded that past researchers have conducted research studies of promotional tools and strategies. These investigations were based on different organizations of retail, hospitality and other industry. No, one have accomplished research on Coca-Cola and its products and services. Along with this, literature has included information about the promotion of existing and new products and services in national market. But, no even a single study focuses on the project about launch of existing product in new international market. So, researcher has decided to conduct investigation on promotional strategy for promoting Minute Maid Pulpy Pear product of Coca-Cola in India.
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