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Coca-cola is a multinational company that has specialized in the productions of soft drinks that comprises fruit juices, fruit drinks, water, energy drinks among others. That it is a giant company does not mean it has not experienced its share of challenges. Coca-cola has undergone ups and downs coupled with competition from companies of the same interest such as Pepsi, (Bhasin, 2018) to emerge at the top. It is its application of the 4p'cs of marketing that accounts for this success. For this reason, have selected it to be the case study for this assignment. On the other hand, the 4p's of marketing involves pricing, promotions, place, and product. The factors of marketing are the ones I shall be focusing on and evaluating its application in the company that has culminated in its success in business.
The company has the highest number of products that run into thousands. It is estimated to have more than three thousands types of products that range from fruit drinks, fruit juices, water, energy drinks to tea and coffee. This wide range of products leaves the target customers with no choice but to land on one or more of the company's products. The rival company is placed in a disadvantaged situation since coca cola has a comparative advantage over them because of this reason.
Because of the full range of products the company has, the price is fixed according to the market and the geographical location of the product. (Bhasin, 2018)The price of the different ranges of the products, therefore, changes from one type of product to another and from one place to another. The pricing strategy is primarily based on the competitors pricing. The prices of the coca-colas products are thus relatively lower compared to the competitors’ products such as Pepsi. With lower prices and the full range of products in the market, coca cola Company there enjoys a monopoly over its customers. Dixon, D. F., & Blois, K. J. (1983).
As alluded to earlier, Coca-Cola is a multinational company that has branches in almost all the countries in the world. It can be deduced that the company's products are to be found everywhere because of its active distribution network that has disadvantaged its competitors in the market particularly the small and middle-level players. In third world countries, for example, Kenya, coca cola has monopolized the market with its extensive distribution so much that it has been very had for other producers to penetrate the market
Irrespective of the fact that coca cola is the most popular company in the world and its products being readily available in the market, the company has embarked on a very aggressive advertisement programme and promotional activities to enhance an increased demand for its products. The company does this through various activities such as individualization of coke to a particular festival, use of CSR activities, and use of brand ambassadors among others. (Bhasin, 2018) The company also gives price discounts and allowances to the distributors and retailers of its products to motivate them. The plan guarantees not only the acquisition of new customers but also enhances the retention of a strong customer base that is unshakable.
Coca-cola is one of the biggest companies in the world today that has effectively applied the 4p’s marketing strategy to effectively and successfully market to its clients. This has been buttressed in the above arguments it is possible that the status quo will remain for a very long time since no competitor can survive coca colas onslaught in the market.
Bhasin, H. (2018). Promotional mix - What are the different types of promotions?. Retrieved from https://www.marketing91.com/promotional-mix/
Dixon, D. F., & Blois, K. J. (1983). Some Limitations of the 4Ps as a Paradigm for Marketing. Back to Basics, Proceedings of the Marketing Education Group, Cranfield School of Management, 92-107.
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