A marketing mix is a business tool that is used by the Coca Cola Company in Canada in the marketing of the vitamin water which is important and is associated with the promotion, place, product and price. It helps us to understand the various elements in a better way. This is well illustrated how the following is applied by the Coca Cola Company in Canada and beyond borders in the marketing of vitamin water. Namely;
Product
The vitamin water in Canada is mostly usually packed in packets of 500 ml to the biggest of 1litre of which mostly we deal with the vitamin water and it’s so nutritious to the body as well as maintaining good health. It has recommendable amount of vitamins of which when one takes it get relieved mostly after work. Although it faces competition from other products, it is mostly preferred since it offers calorie to individuals who have less of it. It is mostly preferred after exercises. By remaining in the market it ensures that the packaging is perfect and also there is offer of after sale services such as free delivery by the Coca Cola Company in the streets of Canada. However for the product to remain competitive, packaging must be modified day after day to appear more appealing to consumers of the same.
Pricing
Retail price refers to the set price that the manufacturer expects the retailers to sell products at. We get to find that the coca cola company in Canada which deals with the vitamin water there are different types of retail trade which are cost pricing mechanisms which includes cost plus profit which equates to the final price to the consumers in Canada and beyond. There are others such as cost plus pricing. Due to higher competition in the market retail pricing tends to have an added advantage since it interacts directly with the customers hence solving any issue that may arise in advance. The Coca Cola Company also involves loyalty programs which involve some kind of rewards. The company faces the challenge of reasoning since the business needs to set reasonable prices which will keep vitamin water consumers in touch. When wholesalers are setting prices they consider the profit and also the price at which the retailers will sell at. They consider labour, cost of goods and also the overhead costs such as the rent. These are all the pricing approaches as strategies considered.
Promotion
For the Coca Cola Company to reach various customers in a best way which may involve use of social media. It is also important to promote workers in the company since it acts an s a motivation factor for them to work harder. This brings an added advantage in the output being produced by the workers. Promotions acts as a voice to the consumers that you are still existing and how they can reach you in your premises. That marks the importance of promotion in the vitamin water market which has led to the increase of sales to the company. Inclusively the company uses the advertising channels such as the radio and televisions which will be able to reach many people. Also the use of newspapers is appropriate as it covers the literate ones. For instance an advert from a radio
“Want to get healthier and healthier every day, get a sip of the new vitamin water from Coca Cola Company which is available at your nearest supermarkets. Buy one get one free in return. Yam Yam!! It keeps you going every day.”
Promotion budget
Coca Cola Company
As at 23rd march 2016
Activity Amount Effect
Advertising 450,000 Create awareness
Free delivery 458,976,100 Increases sales
Promoting workers 658,897,462 Increases motivation
After sale services
Totals 458,971,226
1,577,294,788 Attract more customers
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In regard to the marketing of the Coca Cola products, the company prefers the distribution of the products in the entire Canada by air since the products are may get spoiled after a long period of time when transporting the products to other countries. Locally we tend to use the road means which is preferably cheap. By using the air means, we are able to reach so many people who may want to use our products.
In conclusion, to ensure the Coca Cola Company performs well in the market we need to maximise the sales so as to get a lot of capital to keep the business going. In regard with the distribution intensities, we must consider who is that willing to distribute our Coca Cola products of which is referred to as distribution opportunities. One should chose those ones that maintain channel member performance. The channel should be making the products to look exclusively good.
References
Abell, D. F., & Hammond, J. S. (1979). Strategic market planning: problems and analytical approaches (p. XII).
Borch, O. J., & Hartvigsen, G. (1991). Knowledge-based systems for strategic market planning in small firms. Decision Support Systems, 7(2), 145-157.
Choffray, J. M., & Lilien, G. (1980). Market planning for new industrial products.
Day, G. S. (1984). Strategic market planning: The pursuit of competitive advantage. West Group. Englewood Cliffs, NJ: Prentice-Hall.