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BLOG 5
5A.
Impact of the internet and digital technologies on the marketing mix elements for Coca-cola.
Coca Cola Company is one of the largest multinational corporations that manufactures, retails and markets non-alcoholic beverages and syrups (Coca-cola, 2018). With more and more consumers ordering groceries online, people often forget to buy a coke. The convenience of e-commerce has had a negative impact on Coca-Cola, and it's not going away anytime soon. So the key thing for Coca-Cola is to adapt to the changing situation and use technology that works for it (Trefis, 2017). Since the time the corporation was founded, it has been growing and conforming to the changes in the world. The Coca-Cola Company has embraced the internet and digital technologies and incorporated them into its marketing mix (Laudon, 2016). Through the internet and digital technologies, the corporation has been able to reach greater levels of personalization, thus extending brand experiences yonder the product itself. After the 1980s, the marketing mix was expanded to seven elements, including product, price, place, promotion, people, process and physical evidence (Chaffey et al, 2019).
Promotion:
Coca-Cola began using Google's technology to deliver personalized ads on customers’ smartphones (Trefis, 2017). Moreover, the Coca-Cola Corporation has, for a long time, used social media to increase sales of its products and spread information about new products. It targets advertisements websites hence having a greater control who gets to see their ads and when they see them. With over 34 million fans on social media, Coca-Cola aims at using social networking technology to spread the word in case of a new product, testing of advertorial campaigns, invite users to play games, and even promotional activities (Kay, 2019). Coca-Cola's products are associated with positive emotions, using social networks to keep a brand young and stylish (ibid). On the other hand, Coca Cola uses subtle but effective online advertising to get people to want its products. Targeted ads on the site mean Coca wants to give people more control over when they see ads. For example, when you are at the beach, you may see an advertisement for Coca-Cola, which links the heat to the refreshing effect of coke (Kay, 2019).
Product:
Price:
I can check when coke is discounted on Coles' mobile app, which is very convenient because I don't need to go to Coles' store to check the price, I just need to check it on my mobile phone.
People, Process and Physical Evidence:
In general, Coca-Cola uses technology and the Internet to improve its products and to conduct promotional campaigns as well as place and price. Finally to achieve sustainable development of the company.
5B:
References
Chaffey, D, & Ellis-Chadwick, F 2019, Digital Marketing, Pearson Education Limited, Harlow, United Kingdom. Available from: ProQuest Ebook Central.
Laudon, K. C., & Traver, C. G. (2016). E-commerce: business, technology, society.
5A.
Impact of the internet and digital technologies on the marketing mix elements for Coca-cola.
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Picture: Coca Cola logo
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Coca Cola Company is one of the largest multinational corporations that manufactures, retails and markets non-alcoholic beverages and syrups (Coca-cola, 2018). With more and more consumers ordering groceries online, people often forget to buy a coke. The convenience of e-commerce has had a negative impact on Coca-Cola, and it's not going away anytime soon. So the key thing for Coca-Cola is to adapt to the changing situation and use technology that works for it (Trefis, 2017). Since the time the corporation was founded, it has been growing and conforming to the changes in the world. The Coca-Cola Company has embraced the internet and digital technologies and incorporated them into its marketing mix (Laudon, 2016). Through the internet and digital technologies, the corporation has been able to reach greater levels of personalization, thus extending brand experiences yonder the product itself. After the 1980s, the marketing mix was expanded to seven elements, including product, price, place, promotion, people, process and physical evidence (Chaffey et al, 2019).
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Picture: Marketing Mix
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Promotion:
Coca-Cola began using Google's technology to deliver personalized ads on customers’ smartphones (Trefis, 2017). Moreover, the Coca-Cola Corporation has, for a long time, used social media to increase sales of its products and spread information about new products. It targets advertisements websites hence having a greater control who gets to see their ads and when they see them. With over 34 million fans on social media, Coca-Cola aims at using social networking technology to spread the word in case of a new product, testing of advertorial campaigns, invite users to play games, and even promotional activities (Kay, 2019). Coca-Cola's products are associated with positive emotions, using social networks to keep a brand young and stylish (ibid). On the other hand, Coca Cola uses subtle but effective online advertising to get people to want its products. Targeted ads on the site mean Coca wants to give people more control over when they see ads. For example, when you are at the beach, you may see an advertisement for Coca-Cola, which links the heat to the refreshing effect of coke (Kay, 2019).
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| Picture: Screenshot of Coca-cola Instagram |
Product:
In terms of products, Coca-Cola may offer packages that are easier to ship because customers want shopping online and home delivery (Trefis, 2017). In addition, the company has also rolled out freestyle dispensers with a computer-like interface that allow customers to create the kind of drink they want by choosing their preference from over 100 drinks in different combination (Nylén, 2015) (Kay, 2019). Apart from serving different drinks, the freestyle technology records all the information on customers’ choices and then sends it back to the company. This is a digital technology that aims to satisfy customer needs and wants.
Place: |
Picture: Coca-Cola freestyle dispensers
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I can buy Coca-Cola products on amazon or Coles and Woolworth online store. Secondly, I can also buy Coca-Cola products from the vending machine at the University of Canberra, and I only need to pay by credit card or mobile phone, which is quite convenient for me, because I don't like to carry cash when I go out. In general, there are many channels to buy Coca Cola products.
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| Picture: Vending machine in building5 UC |
Price:
I can check when coke is discounted on Coles' mobile app, which is very convenient because I don't need to go to Coles' store to check the price, I just need to check it on my mobile phone.
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Picture: Screenshot from Coles mobile App (2019)
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People, Process and Physical Evidence:
The application of new technology makes it more convenient for people to get Coca Cola products, and they don't need employees to sell them. For example, vending machines and freestyle dispensers. In addition, Coca-Cola's logo is the best guarantee for its products.
In general, Coca-Cola uses technology and the Internet to improve its products and to conduct promotional campaigns as well as place and price. Finally to achieve sustainable development of the company.
5B:
More and more companies are participating online and participating in social activities through Facebook, Twitter and other social networking sites. Because of the popularity of social networks, many companies want to develop a comprehensive social media strategy (Chaffey et al, 2019). A social media strategy is defined to achieve interaction with social network users to meet business goals. Social media strategy defines how social media can help marketing goals, and here are some social media strategies (Chaffey et al, 2019).
1. Listen and manage your reputation
2. Change the brand image through social media
3. Get new customers
4. Increase sales to existing customers
5. Enhance customer service.
Through social media rebranding, a blog can be created, and the company's blog can become the centre of its social media strategy. Then regularly publish some latest product information and some promotional activities on the blog to attract people's attention (Chaffey et al, 2019).
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Picture: Sports gear
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Identify the goals of the business
Every part of the social media approach fulfils the set goals. In establishing the business, he has to closely analyze the general needs of the company and choose how he wants to apply social media and its tools and decide how he wants it to contribute to achieving them (Barnhart, 2019) There are a number of personalized business goals that he can come up with for the sporting gear and equipment store, including reduction of marketing costs and increasing awareness of the brand.
Setting Marketing Objectives
Goals are incredibly useful, especially when there are no set parameters which outline when everyone is expected to be achieved. For instance, if the primary goal of the entity is to generate sales and leads, how many sales and leads have to be generated in order for it to be considered a successful goal that has been achieved?
The objectives of marketing outline how to move from a goal that remains unfulfilled to a goal that is fulfilled successfully. The S-M-A-R-T approach may be used in outlining goals: the company has to ensure the objectives are achievable, specific, relevant, time-bound and measurable (CFI, 2019).
Research the Competition
In social media marketing, researching the competition in areas that they are successful is prudent. Researching the competition enables individuals to stay current on their moves. This would be critical in the sporting goods business since they rely on trends to maintain sales (Barnhart, 2019). It will give the company an idea of what is working currently and enable the integration of those successful strategies in company promotion.
References
Trefis Team. (2017). Why Coca-Cola Is Being Negatively Affected By e-Commerce Growth. Viewed from:
Kay Ireland. (2019). Does Coca-Cola Use Technology to Gain an Advantage? Viewed from:
Coca-cola Journey staff. (2018). We Are Coca-Cola and So Much More. Viewed from:
Nylén, D., & Holmström, J. (2015). Digital innovation strategy: A framework for diagnosing and improving digital product and service innovation. Business Horizons, 58(1), 57-67.
Barnhart, B. (2019). How to build your social media marketing strategy. Viewed from: https://sproutsocial.com/insights/social-media-marketing-strategy/
CFI. (2019). SMART Goal. Viewed from: https://corporatefinanceinstitute.com/resources/knowledge/other/smart-goal/
Your blog has taught me a powerful marketing solution that Coca-Cola has achieved through the Internet.
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