Marketing Planing Essay Example | Topics and Well Written Essays - 2750 words

Marketing Planing - Essay Example The objective of the company is to offer the employees a congenial atmosphere to work and customers a wide range of drinks which can satisfy their needs. Some of the main objectives of the company are to lay emphasis on the needs of the customers and develop innovative products. Presently, the company offers 3500 products in more than 200 countries (Coca Cola, 2013a). The company tries innovative methods to develop core products which can suit the taste buds of the customers and provide satisfaction (Coca Cola, 2013b). Presently, the company manufactures carbonated beverages in various flavours, juices, bottled water and sports drink (Coca Cola, 2013h). Marketing Planning Changes & Assessing Capability Marketing Planning is a method to develop plans which can identify and satisfy customer needs and wants. The main elements of market planning are to conduct a market research to understand the customer requirements. Understanding customer requirements is essential to develop products a s per customer preference and specifications. After 70 years of success in developing cola drinks only in singular flavour the company decided to manufacture drinks in varied flavours to diversify their risk and yield profits from varied products. This was one of major breakthrough market planning initiatives by the company to manufacture beverages for a diversified customer base. The company started selling juices under the brand Minute Maid to portray itself as a healthy beverage manufacturer. The company also increased its availability in remote countries like Cambodia, Paraguay, Macau, Turkey and Montserrat. The first television advertisement for Coke appeared in the year 1970 which related the brands with friendliness and good times. In the year 1980 during the tenure of the chairman Mr. Roberto C. Goizueta the company started focusing more on manufacturing healthy beverages which would suit the taste bud of the consumers. During the 1980’s the company started manufactur ing sugar free and low sugar content drinks under the brand names â€Å"Diet Coke†. This decision was made to strengthen the brand image of the company. Mr. Roberto C. Goizueta also introduced a drink with a relatively new flavour under a new formula which was popularly termed as â€Å"New Coke†. However, coke started manufacturing drinks under the original formula to regain the customer and critic’s confidence. During the 1990’s the company started formulating a different strategy by associating itself with sports. The company associated itself with leading sports which were popular among the common masses. The company became one of the sponsors of FIFA, Rugby, and National Basketball Association etc to connect with a larger audience. The advertising and various other marketing strategies had a profound impact on the company’s earnings. Traditionally the company served 9 drinks per day compared to 1.7 billion servings per day presently (Coca Cola, 2013e). Thus, we can observe that the company had adapted to the changing marketing environment and had changed the marketing strateg