Planning and Developing a Marketing Campaign Essay Example for Free

Planning and Developing a Marketing Campaign EssayIn this assignment, I will be exploring the marketplace mix and all(prenominal) of its variant factors as well as to apply this to Coca-Cola and how they be currently and whitethorn be affected by the merchandising mix in the future.Product A yield is anything that is capable of satisfying guest needs. There are two different offerings of this being, a physical item or of a virtual type. The produceion is therefore bring outd at a specific cost and marketed at a desired price that would be deemed as acceptable for the caliber of the item. Every product will follow a lifecycle, a caller foot increase its agonistical edge. There are many different ways in which they brook develop or inflate upon a certain product so that it erect anticipate relevant and up to date with the ever-changing market especially when it reaches the decline or end of its life.Product development The process of creating or meliorate a pr oduct or service and managing it during all periods from design through merchandising. Product development is a key part of introducing a new, appealing product to their audience, this process may involve numerous modifications to the product so that it does meet the needs and purpose of the product. There are various stages that a new or improved product or service goes through from design, through developing, testing, and marketing it.Form and Function smorgasbord fit function, is used in manufacturing to describe the identifying characteristics of a part. For example, the screw is think to hold different(a) part of the product together. In practice, the rule of leap follows function, start the design process by first acquiring as much information as possible ab knocked out(p) the purpose of the piece you are creating. use this process allows a company to understand and ensure that the product is acceptable as well as fit for its purpose. Without this process, the intenti ons and purpose for a product can be lost, which ideally is not a stage of which what a company would want to beat.Packaging Packaging is a very crucial part when creating and marketing a product because it is the first thing the customer sees before purchasing the product, therefore, this makes the packaging of the product to be respectable and appropriate to catch the eye of the consumer. How the product is packaged may excessively be what attracts the consumer to violate out the product on the shelf or it could be a product that stands out from the light online, amongst its competitors. For this reason, companies conduct extensive research on color schemes, designs and types of product packaging that is the intimately appealing to its intended consumer. The main function of packaging is to protect the product from damage during the process from the producer to the consumer, this process involves exit and shelf life of the product.Branding Branding a product was much easier when there were no websites, smartph whizzs, interactional games or neighborly media. Today, creative teams are required to seamlessly brand products across multiple media, using the analogous voice, design and pass a spacious, often with different creative teams and designers creating separate brand extensions. Without a strong brand backside your product line, theres little to compel a buyer to choose you oer other option. And with so many options in most(prenominal) markets today, branding is more important than ever.Product branding gives the items in your store an identity within the marketplace. Good branding can allow your specific products to stand out a happen uponst what a competitor offers, and engender the kind of brand loyalty that pulls customers into your store. That identity is build of numerous comp starnts, including logos, design, packaging, messaging as well as names and descriptions.Coca-Cola has been around since 1892 and has developed a long-familiar brand all over the world. They are a company who have worked on producing a utmost quality, refreshing product that meets the needs of their consumers. They have developed their product minimally and have always offered the same refreshing taste. From having a simple and unique design this has meant that they can stand out amongst competitive brands such as Pepsi. In addition, the look of the product has also been similar since they started, by doing this Coca-Cola is able to provide a distinctive well-known product all over the world. Coca-Cola is the best marketing and branding company in the world, the company built began with one soda. Today it is one of the worlds most valuable brands and theyve done it by consolidation different components into the marketing mix.Price is the value that is put into a product or service and is the effect of a complex delimitate of calculations, research and understanding, and risk-taking ability. A price strategy takes into account segments , ability to lucre, market conditions, competitor actions, trade margins and input costs, amongst others. It is sended at the defined customers and against competitors. discernment Pricing Penetration set refers to a marketing strategy used by seames to attract customers to a new product or service. Penetration set is the practice of offering a low price for a new product or service during its initial offering in order to lure customers away from competitors. Penetration pricing is most commonly associated with a marketing objective of increasing market share or sales volume. In the short term, penetration pricing is likely to result in lower profits than would be the content if the price were set higher.Skimming Pricing Price skimming is a pricing strategy in which a marketer sets a relatively high initial price for a product or service at first, therefore lowers the price over time. It is a temporal version of price disparity/yield management.Competitive Pricing Compet itive pricing is setting the price of a product or service based on what the competition is charging. This pricing method is used more often by line of merchandisees selling similar products since services can vary from business to business, while the attributes of a product remain similar. This type of pricing strategy is generally used once a price for a product or service has reached a level of equilibrium, which occurs when a product has been on the market for a long time and there are many substitutes for the product.Cost plus Pricing Cost-plus pricing, also called markup pricing or markup pricing is the practice by a company of determining the cost of their product to them and then adding a percentage on top of that price to determine the selling price to the customer. Cost-plus pricing is a very simple cost-based pricing strategy for setting the prices of goods and services.The amount of currency charged for a product or service, or the sum of the values that Consumers exc hange for the benefits of having or using the product or services. As price gives us the profit so this P is very important for a business price of the product should be that which gives maximum benefit to the company and which gives maximum satisfaction to the customer.For Coca-Cola, there are many factors that they kept in mind while determining the pricing strategy. Firstly, the price should be set according to the product demand of usual because it is of what which gives the company maximum revenue. Price should also not be too low or too high then the price competitor is charging from otherwise cypher will buy their product. Another factor is that price must be keeping the view of your target market. The price of Coca-Cola, despite being the market leader is the same as that of its competitors, sometimes, Pepsi places its customers into some psychological pricing strategies by reducing a high priced bottle and consumers think that they save a lot of money from this.Place In the marketing mix, the process of moving products from the producer to the intended user is called the place. In other words, it is how your product is bought and where it is bought. This movement could be through a combination of intermediaries such as distributors, wholesalers, and retailers. In addition, a newer method is the internet which itself is a marketplace now. Through the use of the right place, a company can increase sales and maintain these over a longer period of time. In turn, this would mean a greater share of the market and increased revenues and profits. Correct placement is a vital activity that is pore on reaching the right target audience at the right time.Distribution carry Channels are broken into direct and indirect forms, with a direct convey allowing the consumer to buy the good from the manufacturer, and a indirect channel allowing the consumer to buy the good from a wholesaler or retailer. A distribution channel is a chain of businesses or intermedia ries through which a good or service passes until it reaches the end consumer. It can implicate wholesalers, retailers, distributors and even the internet itself.Retailers A retailer is a person or business that sells goods to the worldly concern in relatively small quantities for use or consumption rather than for resale. Retail distribution is the most traditional form of the distribution channel. The common model holds the manufacturer using an intermediary such as a wholesaler or distributor to deliver products directly to retailers, then ultimately to the consumer. Wholesalers Manufacturers may also employ wholesale operations that purchase products from manufacturers at a deeply discounted price. The wholesaler often uses a distributor or other smaller wholesaler as an intermediary to deliver products in bulge out to retailers, or it may offer products directly to retailers or consumers. The scope of the manufacturer relationship with the wholesaler can have varying effe cts on product delivery time and price. Coca-Cola is a global business that operates on a local scale, in every community where we do business. We are able to make up global reach with local focus because of the strength of the Coca-Cola system, which comprises our Company and our nearly 250 bottling partners worldwide.The firms distribution system is one of the most well planned and executed compared to all other drinks of the same category. It has such an impact on consumers and is so successful that even wholesalers and distributors need the product for their business success. Cokes position on consumers mind makes it essential to retailers and wholesalers. They have achieved their goal due to this high visibility, and to the availability of their products all over the world, even remote places.Promotion There is much more to promotion than advertising. Businesses use various methods to gain publicity. Promotion refers to the methods used by a business to make customers aware o f its product. Advertising is just one of the means a business can use to create publicity. For example, product promotion performed by a typical business might take the form of advertising the product in question via affect or Internet ads, direct mail or e-mail letters, trade shows, telephone and personal sales calls, TV and radio ads, billboards, posters and flyers.Public relations Public relations is the way organizations, companies and individuals reach with the public and media. A PR specialist communicates with the target audience directly or indirectly through media with an aim to create and maintain a positive image and create a strong relationship with the audience. Examples include pep up releases, newsletters, public appearances, etc. as well as utilization of the World Wide Web.Sponsorship advertising that seeks to register a deeper association and integration between an advertiser and a publisher, often involving coordinated beyond-the-banner placements. Example s of sponsorships vary widely, as the whole point is to establish a unique advertising opportunity than afforded by typical rotating advertisements. They may include several fixed ad placements, advertorials, co-branded content sections, or anything the advertiser and publisher can guard on.Social and or other Media The emergence of Internet-based social media has made it possible for one person to communicate with hundreds or even thousands of other people about products and the companies that provide them. The impact of consumer-to-consumer communications has been greatly magnify in the marketplace. The first role of social media is reliable with the use of traditional integrated marketing converse tools. That is, companies can use social media to talk to their customers through such platforms as blogs, as well as Facebook groups. These media may either be the company- sponsored or sponsored by other individuals or organizations. The second promotion-related role of social med ia is unique customers can use it to communicate with one another.Guerrilla marketing The goal of guerrilla marketing was to use unconventional tactics to advertise on a small budget. It is an advertisement strategy opinion designed for businesses to promote their products or services in an unconventional way with little budget to spend. This involves high energy and imagination focusing on grasping the attention of the public in more personal and memorable level. The term guerrilla marketing was inspired by guerrilla warfare which is a form of irregular warfare and relates to the small tactic strategies used by armed civilians. Many of these tactics include ambushes, sabotage, raids and elements of surprise. Much like guerrilla warfare, guerrilla marketing uses the same sort of tactics in the marketing industry.Personal selling Personal selling is the process of communicating with a potential buyer face to face with the purpose of selling a product or service. Personal selling is one part of a companys promotion mix, along with advertising, sales promotion, and public relations. It is a strategy that salespeople use to convince customers to purchase a product. The salesperson uses a personalized approach, tailored to meet the individual needs of the customer, to install the ways that the product will benefit the company.Product placement An advertising technique used by companies to subtly promote their products through a non-traditional advertising technique, usually through appearances in film, tv set, or other media. Product placements are often initiated through an agreement between a product manufacturer and the media company in which the media company receives an economic benefit. A company will often pay a pay to have their product used, displayed, or significantly featured in a movie or show. For example, Coca-Cola could pay a given fee to have the title character drinking a Coke, instead of a Pepsi beverage.Digital Marketing The promotion o f products or brands via one or more forms of electronic media. For example, advertising mediums that might be used as part of the digital marketing strategy of a business could include promotional efforts made via the Internet, social media, mobile phones and electronic billboards, as well as via digital and television and radio channels.Corporate image Similar to a firms reputation or goodwill, it is the public perception of the firm rather than a reflection of its actual state or position. Unlike somatic identity, it is fluid and can change overnight from positive to negative to neutral. Large firms use various corporate advertising techniques to enhance their image in order to improve their desirability as a supplier, employer, customer or the borrower.