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Analyze the current 4Ps marketing strategy of Coca Cola and make some suggestions for one product. Coca Cola is a brand of carbonated soft drinks containing saturated carbon dioxide water, prepared by pharmacist John Pemberton in the late 19th century with the original purpose of becoming a specialty drug. However, American entrepreneur Asa Griggs Candler bought Coca Cola ownership from John Pemberton, and with clever marketing tactics, he made CocaCola one of the leading products in the carbonated soft drinks market in the 20th century. Today, the CocaCola formula remains a trade secret, and only a handful of unnamed workers know it. The target market of Coca Cola is very widespread as it satisfies the needs for many different consumers, ranging from the healthy diet awareness through Diet Coke to the average human through its bestselling drink regular Coke. Coca Cola doesn’t target a specific segment but adapts its marketing strategy by developing new products. This market is comparatively large and is open to both genders, thereby allowing greater product diversification. Coca Colas target customers is younger customers within the age bracket of 1025 and has chosen Conscious Progressives as a target segment in its marketing campaigns. This approach helped CocaCola succeed and touch the hearts of its customers. A secondary market composed of people aged 2540. The company targets the market that desires an intense flavor with their regular cola drinks in terms of taste. Meanwhile, diet cola drinks and their variants target those customers that are health conscious. CocaCola campany has also expanded its product to noncola beverages to target those not fond of drinking its regular cola drinks. 2.2. Product Product Features Coca Cola Original Here’s the list of ingredients in Coca Cola: • Carbonated water – Approximately 90% of CocaCola is water. The carbonated part is purified carbon dioxide, which gives the drink its “bubbles” or “fizz”. • Sugar – CocaCola Classic’s sweet taste (and also some of its mouthfeel) comes from sugar. CocaCola Zero Sugar and Diet Coke are sugar free. • Caramel colour – A very specific caramel is made especially for CocaCola, to give the drink its characteristic colour. • Phosphoric Acid – The tartness of CocaCola comes from the use of phosphoric acid. • Caffeine – The slight bitterness in the taste of CocaCola comes from caffeine Natural flavours – The essence of the secret formula of CocaCola is its blend of natural flavours. This is the most protected and secret part of the formula Product Brand Brand: Coca Cola
MKT 101 PRINCIPLES OF MARKETING Group Projects Summer 2022 Topic: Analyze the current 4Ps marketing strategy and make some suggestions for one product Class: IB1708 Lecturer: Lê Thị Việt Hà Student name Student ID Vũ Quỳnh An HS171319 Trình Minh Qn HS170040 Vũ Bá Hồng HS170297 Hà Đình Minh HS170732 TABLE CONTENT I Introduction 1.1 Short profile of Coca Cola……………………… …………… 1.2 Target customer and target market………………….…………… II Analysis of the current 4Ps Marketing strategy 2.1 Product………………………………….………………………… 2.2 Price…………………………………….………………………… 2.3 Place………………………………….…………………………… 2.4 Promotion………………………………….……………………… III Suggestions and conclusion 3.1 Suggestions……………………………….……………………… 3.2 Conclusion ……………………………….……………………… IV References I Introduction 1.1 Short profile of Coca Cola Coca Cola is a brand of carbonated soft drinks containing saturated carbon dioxide water, prepared by pharmacist John Pemberton in the late 19th century with the original purpose of becoming a specialty drug However, American entrepreneur Asa Griggs Candler bought Coca Cola ownership from John Pemberton, and with clever marketing tactics, he made Coca-Cola one of the leading products in the carbonated soft drinks market in the 20th century. Today, the Coca-Cola formula remains a trade secret, and only a handful of unnamed workers know it Coca Cola began to be known in Vietnam in 1960, but it was not until 30 years later, in 1994, that it officially started trading Over nearly 20 years of development, Coca Cola Vietnam has become a major brand in Vietnam Coca Cola’s logo The Coca-Cola logo was designed by an amateur, Frank Robinson, who was the company's novice accountant. He assumed that the two 'C's' would look great in the ad, so he came up with an attractive and distinctive visual typeface This typeface, known as the 'Spencerian script', was created in the mid-19th century It was the dominant form of official writing in America during that period The meaning of the Coca Cola logo: the red and white colors in the Coca-Cola logo are simple enough, playful and special enough to appeal to a young audience While red symbolises passion, determination, youth and vitality, white symbolises the charm and elegance of the Coca-Cola brand 1.2 Target customer and target market The target market of Coca Cola is very widespread as it satisfies the needs for many different consumers, ranging from the healthy diet awareness through Diet Coke to the average human through its best-selling drink regular Coke Coca Cola doesn’t target a specific segment but adapts its marketing strategy by developing new products This market is comparatively large and is open to both genders, thereby allowing greater product diversification Coca Cola's target customers is younger customers within the age bracket of 1025 and has chosen Conscious Progressives as a target segment in its marketing campaigns This approach helped Coca-Cola succeed and touch the hearts of its customers A secondary market composed of people aged 25-40 The company targets the market that desires an intense flavor with their regular cola drinks in terms of taste Meanwhile, diet cola drinks and their variants target those customers that are health conscious Coca-Cola campany has also expanded its product to non-cola beverages to target those not fond of drinking its regular cola drinks II Analysis of the current 4Ps Marketing strategy 2.2 Product Product Features Coca Cola Original Here’s the list of ingredients in Coca-Cola: Carbonated water – Approximately 90% of Coca-Cola is water The carbonated part is purified carbon dioxide, which gives the drink its “bubbles” or “fizz” Sugar – Coca-Cola Classic’s sweet taste (and also some of its mouthfeel) comes from sugar Coca-Cola Zero Sugar and Diet Coke are sugar free Caramel colour – A very specific caramel is made especially for Coca-Cola, to give the drink its characteristic colour Phosphoric Acid – The tartness of Coca-Cola comes from the use of phosphoric acid Caffeine – The slight bitterness in the taste of Coca-Cola comes from caffeine Natural flavours – The essence of the secret formula of Coca-Cola is its blend of natural flavours This is the most protected and secret part of the formula Product Brand Brand: Coca Cola Coca Cola’s brand The Coca-Cola Company has a wide product range. The following products are offered by Coca Cola globally: Coca Cola, Sprite, Fanta, Diet Coke, Coca Cola Zero, Coca Cola Life, Dasani, Minute Maid, Ciel, Powerade, Simply Orange, Coca Cola Light, Fresca, Glaceau Vitaminwater, Del Valle, Glaceau Smartwater, Mello Yello, Fuze, Fuze Tea, Honest Tea, Osewalla, Powerade Zero Coca Cola Varies Coca Cola for dieter, diabetes Product Collection Coca-Cola has invented very creatively in the style of box design that is the use of the image of " swallows " in many types of products including 24 cans of Coca -Cola, Sprite, Fanta, a pair of two bottles of Coca-Cola PET type 1.25 litres and a set of cans of Coca-Cola during Tet in Vietnam Coca Cola can with swallow in Viet Nam Tet Collection of products of Coca Cola Environmental pollution is always a stinging problem for people today With an effort to limit its waste out of the environment, Coca-Cola has partially implemented the commitment to produce packaging 100% recycled by 2025, investing in collected and re-collection infrastructure To be able to recover the coca shells after use Therefore, they have produced glass Coca bottles for the purpose of reusing when customers use it up In addition, Coca also makes a thermos to keep the pure of Coca Cola Not only that, they also help customers to prepare drinking water and take away more conveniently 2.2 Price Pricing target: In all markets, Coca Cola always aims to lead the market along with maintaining the reputation that the company has built In addition, Coca Cola has also determined competition through promotion, not competition through price In addition, the price tool is a sensitive tool, the constant price increase and decrease will make it difficult for both the company and the consumer Therefore, Coca Cola's pricing objective is to maintain a stable price Valuation method: The competition for market share of carbonated soft drinks between Coca Cola and Pepsi is always fierce and fierce Therefore, in order to gain market share as well as build an image in the hearts of customers, Coca Cola always improves its marketing team to best serve the increasingly demanding needs of consumers In which, the price is one of the tools to help Coca Cola achieve the above goals Therefore, pricing products according to buyers' needs is an appropriate pricing method that Coca Cola has been applying Pricing Strategies Thanks to the variety of products, Coca-Cola's selling price is adjusted accordingly to each market segment and geography Each Coca-Cola brand has a different pricing strategy This Coca cola marketing strategy is based on the competitor format of Coca Cola, in which Pepsi is the biggest direct competitor of the Coke brand The beverage market is quite monopolistic (the number of sellers is very small), so the companies will enter into an agreement agreement to create an equilibrium in the selling price of the product Coca-Cola products set prices by looking at the buyer's perception of value, not the seller's cost Pricing Strategies in Coca Cola's Marketing Mix: Coca cola has pursued a 3P and 3A pricing strategy in order to gain advantage and best serve coca cola's target customers and consumers 3P strategy: Price to value (from price to value): consumers not only have the ability to buy coca cola but also get the benefits from the product Pervasiveness: consumers can buy coca-cola everywhere Preference: make consumers not only love the product, but also ensure that Coca is the first choice when they look for soft drinks 3A strategy: Affordability: Coca Cola's selling price is guaranteed to be suitable for all audiences, anyone can afford it Availability: consumers must be able to buy Coca-Cola whenever and wherever Acceptability: Coca Cola must make customers love and accept the product, feel happy when using the product In addition to setting relatively low prices to penetrate the market, Coca-Cola also sets prices at a discount, adjusting prices to reward customers who pay ahead of time and buy products in bulk In addition, Coca-Cola also uses a strategy of price discrimination by product type 2.3 Place Up to now, Coca Cola has been on the market for more than 130 years and operates in more than 200 countries worldwide This is the clearest proof of the brand's huge distribution network This makes Coca Cola's Place strategy even more prominent in the 4P model Coca Cola developers create products using “heirloom” recipes and ship them to bottling plants around the world The shape and size of the product is predetermined by the brand After completing the bottling process, the product will be delivered to shipping agents Products will be transported by road to stockpiles and to distributors The products are then delivered to retailers and sold to consumers In Vietnam, Coca-Cola beverage products are produced at bottling plants in Ho Chi Minh City, Hanoi, and Da Nang At the same time, Coca-Cola's distribution network is nationwide, from big cities to rural areas, from general agents to small retail stores, present at retail locations across the country, coffee shops, soft drinks or restaurants, eateries, etc Coca-Cola attracts small distribution points by providing financial support, decorating stores, giving umbrellas, etc 2.4 Promotion With its multi-channel marketing strategy, Coca-Cola invests the most in the promotion component of the 4P marketing mix model From conventional channels like television and outdoor advertising to online marketing channels like Facebook, Instagram, and Youtube, Coca-Cola is present in all of them The purpose of Coca Cola's social media accounts is to engage audiences and entice them to participate in its campaigns Coca-Cola currently has more than 104 million Facebook fans, 2.7 million Instagram followers, and more than 3.64 million YouTube subscribers Additionally, Coca-Cola places a strong emphasis on enhancing its reputation in the marketplace and in the eyes of consumers due to the intense competition in the beverage industry Participating actively in CSR initiatives for sustainable development is one of them World without Waste: In 2018, Coca Cola started to launch the World Zero Waste campaign with improvements in packaging production The improved packaging is more environmentally friendly. Water Leadership: In 2020, Coca Cola continues to launch a movement to protect water resources for people, businesses and nature. Reducing Added Sugar: With low-calorie and zero-calorie products, Coca Cola continues its campaign for consumer health In India, Coca-Cola launched the "Taste the Feeling" campaign in March 2016 It aims to remind its consumers of the joy and happiness that Coke brings into their lives He was picked because he would relate well to Indian youth On numerous channels, the advertisements were frequently broadcast III Suggestions and conclusion 3.1 Suggestions Make suitable products for different places This is important because in different countries people have different tastes so make sure that people can get the product they like For example, Japanese like to use the drink without too much sugar Be careful when you put an ad on social media With many methods Coca Cola uses to advertise they have to choose the people to make the advertisement don’t put something inappropriate or offensive to other cultures 3.2 Conclusion Coca Cola has been a very popular soft drink brand for more than a century Thanks to its perfect 4p strategy, Coca-Cola has maintained a good track record of selling products to users around the world With the unique creativity on each can and bottle of Coca on the Lunar New Year in Vietnam, they have attracted a large number of users in Vietnam Coca-Cola bases its pricing strategy by which market segment it is serving at the time Coca-Cola uses every one of its over 130 years of experience to leverage product movement and distribution to over 200 countries in an almost flawless exhibition Coca-Cola has shown that there is no distribution problem it cannot tackle and if it has to, it will even create operations or buy independent bottling operators to improve its distribution channels Coca-Cola has also done a spectacular job at delivering its marketing message around the world Whether it be through traditional advertising mediums or newly created social media platforms, Coca-Cola creates an atmosphere for customer involvement that is unmatched by its competitors Coca-Cola has become so efficient at marketing that it does not have to build an audience but rather just buildon its message of positive experiences and happiness Compare coca and pepsi's 4p strategy : Coca- Cola Pepsi Prire Agree on equal pricing Agree on equal pricing Place Coca Cola has a wide distribution channel, most of the brand's products are available in supermarkets and retail locations around the world In addition, Coca Cola products are also distributed to many restaurants, large and small customers all over the world This company owns famous global restaurant chains, including KFC While other restaurants partner with international bottlers to package and distribute products, PepsiCo maximizes its food chains to market its drinks and other goods Promotion Gửi gắm thông điệp IV looking at its promotional approach, it uses a youthful vibe instead of using emotional appeal With this, the company taps sports industries and handles promotions there It even has its selection of sports drinks in Gatorade, which has been a success so far PepsiCo, similar to other companies, also uses social media to promote its brands and create customer engagement Besides the conventional advertising and promotional strategies, it taps various brand ambassadors Since it considers the younger generation as the primary target market, they include celebrities and sports personalities in their promotion as the youth is mainly drawn to sports and celebrities References: https://tino.org/vi/chien-luoc-4p-cua-coca-cola/#:~:text=M%C3%B4%20h %C3%ACnh%204P%20bao%20g%E1%BB%93m,v%C3%A0%20qu %E1%BA%A3ng%20b%C3%A1%20th%C6%B0%C6%A1ng%20hi%E1%BB %87u https://marketingai.vn/chien-luoc-marketing-mix-cua-coca-cola/ ... products are offered by Coca Cola globally: Coca Cola, Sprite, Fanta, Diet Coke, Coca Cola Zero, Coca Cola Life, Dasani, Minute Maid, Ciel, Powerade, Simply Orange, Coca Cola Light, Fresca, Glaceau... in Coca Cola'' s Marketing Mix: Coca cola has pursued a 3P and 3A pricing strategy in order to gain advantage and best serve coca cola'' s target customers and consumers 3P strategy: Price to. .. Thanks to the variety of products, Coca- Cola'' s selling price is adjusted accordingly to each market segment and geography Each Coca- Cola brand has a different pricing strategy This Coca cola marketing