Product marketing is a significant aspect of the present-day supply chain, and frequently necessitates good management by a marketing organization for success. Moreover, it offers the starting point for the attainment of organizational objectives. Through globalization, the responsibility of marketing managers has turned out to be more complicated and challenging. It is because of cross-cutting cultural and ethical concerns, open market for competition, in addition to rapidly transforming customer tastes and preferences. The United States has been a leader in the global market, upholding the front position in both imports and exports. This essay discusses how to make my product the best one in Advocare Health & Wellness Center especially on their 24-Day Challenge Product Bundle. Coca-Cola has been mostly accepted in the United States of America. The essay proceeds to explore the marketing management strategies governing the sale of Coca-Cola, plus its external and home-grown target market. In addition, it examines its acceptance and condition in the foreign markets and environmental concerns instigated by the product. In proportion to both the United States and international ethical concerns, an analysis of the product marketing with consideration of the four P’s has been conducted.
Utilities of Consumer Value
In management marketing, business marketing utilities can be referred to as utilities of consumer value. These include the elements that are required for purchase or trading of a product to occur between an organization and business clients. The term ‘utility’ implies the benefit that a customer obtains from the exchange as mentioned above including form, place, time and possession. On the other hand, these utilities operate mutually to generate customer satisfaction. To begin with, form is the real product that is given to customers and Coca-Cola is a soft drink that is loved by a lot of customers all over the world.
It is a carbonated beverage, containing caffeine and cocaine as the main stimulants. Coca-Cola was originally suggested to be used as a therapeutic drink. Although when it was launched by Asa, it turned out to be a modest and widely accepted kind of drink. The Coca-Cola Company has since established many other brands within the Coke brand-name, in an attempt to satisfy particular needs of customers. These brands include Diet Coke, Coca-Cola Vanilla and Coca-Cola Zero, along with other distinct tastes with lime, lemon or coffee. As a result of its peculiar nature, Coca-Cola remains one of the world’s most cherished brands.
In its business marketing, the Coca-Cola Company regards all clients all over the globe as potential buyers of its products. In the U.S. it has been discovered that the product is prevalent among young people. Elmore identifies that specifically those between the ages of fifteen and twenty-five, and some adults aged up to forty years, fall into the category of potential customers. According to gender considerations, males have been classified as more passionate consumers of the Coca-Cola product, as it is frequently exploited as a complement with alcoholic drinks. In other foreign markets, particularly the African market, females are the potential customers of the beverage. The beverage exploits the emerging trends in economic backgrounds demarcated by tight schedules, a surplus of departmental and cluster conferences and mobile group. It aims at younger people, who mainly depend on their parents for financial support.
In the past years, the Coca-Cola product struggled with a number of competitors, both in the internal and external markets. However, the company has overshadowed them in the market owing to its effective market base and the large number of its loyal clients. Pepsi, a product of the PepsiCo, is the main competitor of Coca-Cola in the industry of beverages. “The core brand bundle would be the Pepsi-Cola brand”. Besides, according to general assessment results, in regard to sales Pepsi appears to be the second after Coca-Cola and, in some markets, it is the first.
Additionally, there is a myriad of other competitors of Coca-Cola all over the world. Specifically, Plexus Worldwide, Inc. and Herbalife International in the Canadian market are the main rivals of Coca-Cola because of their strategic locations and competitiveness. Other soft non-carbonated drinks manufactured in other countries particularly in Africa and India are strong competitors, as several consumers shift to accept them because of health benefits. Nevertheless, the Coca-Cola Company has managed to beat most of its rival firms, including Plexus Worldwide, Inc., Herbalife International in the Canadian market among others. The broader market has boosted its market share in several internal and external markets irrespective of the stiff competition it faces. Lastly, Coca-Cola has remained resolute and exceptional in the market, and is still preferred by numerous clients.
Segmentation, Targeting and Positioning Approach
Most scholars in their research studies have defined segmentation as a process that involves dividing a particular market into groups of potential clients, who have the same demands or needs and are likely to show similar buying behavior. Market segmentation helps in examination and understanding of a market, and it helps one to find opportunities available for the development of a competitive advantage over other competitors (Natter, Mild, Wagner and Taudes, 2008). In the situation of Coca-Cola, I would segment the market on the basis of the approaches of geographic segmentation, place of consumption, product brand, and human population studies in the regions. In a new foreign market, for example, Africa, I would segment the market on the basis of geographic segmentation. Several divisions would be formed for main continental expanses, and head of every division would report to the headquarters of Coca-Cola.
A better deal of independence would be given to every division in regard to running the company’s business operations. On the other hand, the market can also be segmented according to the place of consumption. The consumption zones of the Coca-Cola product include: railway stations, movie theatres, bars and homes among others and the product would also be segmented according to the product type. The Coca-Cola product can target external market segments via the use of different advertisements in the marketing promotions. As acknowledged earlier, the main target of the product would be the younger generation, as they constantly use media and have passion for entertainment and enjoyment. Other variations of the Coca-Cola product such as diet Cola would be aimed at people with special needs such as the elderly and patients suffering from diabetes, high blood pressure.
Environmental Facts and Trends
Presently, the environment is turning out to be increasingly sensitive to impacts of international organizations and small local companies, as concerns about global warming and other kinds of environmental pollution develop in the contemporary society. Therefore, numerous governments have set rules to control careless operations and use of some constituents in manufacturing of consumable goods. Specifically, use of pesticide is one of the critical areas that have enticed everyday censure, especially in regard to the Coca-Cola Company. It is dreaded that the water that the company uses in to manufacture Coke has a substantial content of morbid pesticides in addition to other harmful substances. It has been discovered that aerated waters used by Coca-Cola have contaminants like malathion, dichlorodiphenyltrichloroethane (DDT), lindane and chlorpyrifos substances, which can cause cancer and the immune system`s letdown. Rules and regulations established by various countries could henceforth prevent the Coca-Cola Company from working within their territories.
Furthermore, use of disposable vessels that do not instigate to environmental deprivation is a mounting concern, and Coca-Cola might in the end find itself at the crossroads of some state statutes. Besides, water preservation and conservation in some sectors of the targeted foreign market may present impediments to the production of the Coca-Cola products. The reason is because it requires large amounts of the limited resource, thus reducing the local water table. As a final environmental point, industrial wastes produced by the Coca-Cola Company also cause environmental contamination, which may be disapproved by some emerging economies.
The Four P’s
Gummesson states that the initial phase of the marketing strategy in any organization involves building of a unique and necessary product that would meet the needs of the target consumers. Coca-Cola’s main product, Coke, is cherished by numerous clients as truly invigorating and thirst-quenching. Taking into consideration the type of the target clients, the cost of the product should be rational and reasonably priced, since the product is mostly consumed by young people, who rely on their parents for financial support.
Finding and describing the place where the product would be vended and remembering the target clients is another critical step that must be taken to ensure an effective product delivery. As a result, it is necessary to outline a succinct distribution channel for the product in advance. To sum up, promotion is significant in creating awareness of the Coca-Cola products; this could be achieved through television, the Internet, newspapers, and other types of media. The management of the company should constantly assess its marketing strategies, including the market share of the company and the level of customer satisfaction.
Ethical Marketing Considerations
In the contemporary world, a growing emphasis is placed on the significance of adhering to some basic ethical norms like labor rights, environmental protection concern, use of resources etc. Social responsibility is mostly necessary for underlying a company’s goodwill to the community. According to Crane and Matten, it has been employed at various levels to demonstrate a good image of particular organizations. The United States has detailed rules and independent organizations addressing labor rights, and these organizations have been delegated to participate in discussions with other agencies in regard to improved working conditions and employee satisfaction. Mistreatment of employees is a grave ethical misconduct in the global market. Moreover, environmental protection is an important ethical practice, and most markets are moving towards implementation of severe policies to administrate such practices.
In conclusion, Coca-Cola is a unique product that has several prospective opportunities to exploit in both local and foreign markets. The company`s products are mostly aimed at the youth. Marketing the Coca-Cola products through Advocare Health & Wellness Center, especially on their 24-Day Challenge Product Bundle will give the product a competitive advantage. This advantage will help the company to beat the other competitors like Plexus Worldwide, Inc. and Herbalife International in the Canadian market. Ethical concerns like the environmental concerns, labor rights and public relations are elements that have to be carefully observed to make sure the marketing of the Coca-Cola products is efficient and sustainable.
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