Tables and graphs can be used to show the pricing trends and decisions of different products of a company. The main factors that an organization should take into account while setting up its prices is that of pricing stategy, the expected volume and decision for following a pricing variable for instance; list price, discounts, payment terms and financing options. Coca cola company pricing is friendly as its products are recyclable therefore minimizing on the cost of producing the empty bottles used to pack its products. Promotion, a product should be advertised and promoted in the market so that the customer can get to know about its existence in the market. A business should determine how much and which media should be used in advertising a product. Kotler, stated there are factors that should be taken into account when promoting a product that include; public relations, promotional programs, projected results for promotional programs and budget that determines the break-even point for making a sale of a product. Coca-cola company has been using the fat and jolly santa Claus in advertising of its products, this has enabled it to increase on its sales and production for its products. Distribution, this process involves ensuring the products reach the customers on time.
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It is also indicated by the environment in which its conducting its business. In the marketing there should be a mission statement that identifies a businesses long-run goal, market it serves incentives and products and services given to customers. Coca-cola companys markets it products through producing concentrate syrup that is fit for consumption to all its franchise shops in the world, this increases the sale returns of the company. Competition, when preparing marketing plan one should take into consideration the reasons that make a customer prefer a product from one business muslim as opposed from its competitor. According to porter, he stated that it is important to prepare a detailed competitive summary of the products and services variables and be ranked in comparison to those of its competitors so as to prepare the right plan for a business. The variables include; pricing, sales, trends, positioning, clarity, quality, target market focus, packaging, advertising and customer service. The management of a company should know it competitors so as to understand its strengths and ese can original be achieved through evaluating the competitors experience in business, purchasing power, market position, strength predictability and the freedom to abandon the market. The coca cola company produces different kinds of products which increases of its sale turnover and makes it to have a higher competitive advantage as opposed to its competitors. It sometimes gives free samples and incentives to its customers. Pricing, a price is determined by the net income and the objective that a company have for the market of its product. The pricing decisions can be determined by knowing the market, competitors, the economic condition of a country and the customers.
Product decisions should include products brand name, quality, and scope of the product line, warranty and its mode of packaging. Coca-cola company sells soft drinks and beverages to the customers. Its management takes into study consideration the advantages of selling a product and how its leveraged in the market so as to maximize on its profits. The branding and packaging of its products unique thus has a higher competitive advantage as opposed to that of its competitors. Marketing objective, the basic strategy of a business is to determine a business objective. Some non-financial market metrics can be used to measure the success of a business. These include target market objectives and market shares- total number of new or retained customers and rate and size of purchases made in a business. These metrics show the conditions and a circumstance facing a company that cannot be solved through using financial methods (baker 19).Coca cola company overall objective has been to meet the needs of its customers, to penetrate the market through providing high quality products and having. The size and mark up of a market is determined by the products being sold in a business.
It communicates to the customers on the value of goods and services. Marketing personnel evaluate the results marketing decisions made in previous years and the market in which a business operates in order to make the right decisions. They also set goals that biography provide direction on how marketing should be carried out. Coca-cola company success has been attributed by a well structured marketing plan. Marketing plan prepared by the management determines how well it will exist in the market. Product identification, a brief discussion is made concerning an existing or new product of a business in the marketing plan. Product identification involves knowing the identity of a product from its source of production, raw materials used in production, work in- progress, finished product storage and the delivery of the products to the customers. Identification of a product can be controlled through electronic and physical methods.
Some experts stress the unique cultural norms, which are evolving among Internet users as the best way for business to develop an Internet customer base. Among the major barriers to successful marketing are security concerns and the absence of a definitive look and feel that will appeal to consumers. While the net is viewed as more user friendly than interactive tv, transactions are, as yet, few because of technology hurdles. For one, the net is not a closed system, which raises concerns of security. In addition, the differing computers and networks that comprise the net make developing transactions difficult. The Internet also requires increased competitive effort from entrepreneurs because government bureaucrats and their associated tax payer-supported groups will not provide the best information superhighway. This leads to widespread concerns that the Internet will become breeding Ground for monopolies as groups struggle to gain the most control and profit from the net. Free title page bibliography page proofreading revision 10 days -.95/page7 days -.95/page4 days -.95/page48 hours -.95/page24 hours -.95/page12 hours -.95/page6 hours -.95/page 1 page - 250 words2 pages - 500 words3 pages - 750 words words words words. Marketing plan, a marketing plan is a detailed, researched and written report that a business uses in order to outline the actions that should be taken to customers and clients and measures taken to persuade them to purchase the product.
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There are, however, problems to consider in this cyberspace wonderland. Commercial interests are memo flocking to the internet, and are directing their aims to the distribution of services and information to mainstream commercial audiences. Marketers should, experts of the net worn, be more cautious before starting internet sites and pages. Rather than automatically assuming the benefits of the medium, they should realize that many Internet sites offer poor data. They are much less accessible than interactive tv services, and they often include outdated information. Marketers should experiment with the medium but not blindly embrace it for the sake of their image.
Rushing to set up shop on the web could be disastrous without the proper research and attitude, because the technology lacks such mission critical features as management, backup, security, and performance management. Some businesses, such as pizza hut, simply may not have internet-using customers; however, the low cost of setting up on the internet still remains a good argument in favor of doing so anyway. A good gauge of what advertisers should focus upon comes from what type of audience they are playing to on the Internet. Net users want advertising to be informative. A reason for this advertising approach focuses upon an Internet user profile with notes that Internet users are predominantly educated, discerning individuals. A survey of internet users by a commercial marketing firm found writing that eighty-seven percent possess a college degree and sixty-seven percent earn more that 50,000 per year What are the best ways for business to market goods and services on a computer network occupied. Experts on the use of the Internet, some of whom have played major roles in linking its twenty-five million users, are uncertain.
The company now has sold about ten million dollars worth of software via the net, while avoiding the costs of overhead that generally consume profits. Sellers, though, are not the only ones to reap benefits from the internet. Purchasing products over the net is also beneficial. It is faster than the traditional process of mail ordering, and the on-line support forums provide advice that is not found in manuals, catalogs, or brochures. To have marketing success on the internet does not require the abandonment of traditional marketing methods; innovation and placement are the prime components in the formula for acquiring internet revenues. Those businesses who devise a successful marketing plan are guaranteed a large profit for their efforts to make the network work to their advantage, direct marketers have more to consider than just developing a sound financial plan of action.
Internet experts lay out several suggestions to generate profit and be a net success. Marketers should avoid being intrusive or sending unwanted messages, for practically noting else annoys internet users more. Instead, an affective approach is to use the internet for building higher levels of relationships with consumers through diaglog. Furthermore, mather Direct has developed six rules for advertising on the Internet: consumers should only be given information which they have requested, data derived from a consumer interaction should never be resold, advertising should be limited to pre-specified newsgroups and list servers, promotion and direct. What does all of this mean for the future of marketing? The internet, as of now, is a free enterprise network. Neither government nor big business owns or regulates its content or procedures, thus allowing for a liberal dissemination of information. The costs for marketers or purchasers to use the net is very low, thus enabling both groups to make or save money.
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The Internet network is becoming increasingly popular among businesses as an avenue for marketing their products and services. The system is growing rapidly, with twenty-five million users in ninteen-niney shmoop four and fifty million by nineteen nintety-eight; a fifty percent rise in only four years. What implications and effects are in store for the future of marketing with such a rapid advance in technology? Experts express both concerns and breathless anticipation. This computerized information boom has enormous potential to boost economies world-wide, but it also has the possibility of being exploited. Advertising and marketing on engelsk the Internet makes obtaining huge profits possible. Id Software Inc., for example, sold several thousand copies of its doom cliff-hanging software game the first weekend they it made the game available on the Internet.
tens of thousands computers, all connected. Individuals and businesses get on the. Internet by getting an Internet account through a local Internet. Service Provider, offering access to e-mail and the world Wide web. The web allows potential customers to visit a businesss storefront to the world, and view the companys on-line color brochure stored in pages or files which can be viewed in both text and picture, how do businesses use the Internet? This form of advertising is used to build a companys image, provide customer support, make available technical and troubleshooting information, develop a prospect list, conduct customer surveys, offer products, and take orders.
Times, however, are changing. With the deregulation of the Internet in 1991, the federal government opened the doors of industry to the potential of advertising twenty-four hours a day, almost free of charge to anyone in the world who accessed their link. While it is true that this new advertising is not seemingly as direct, it does provide a marketing tool that directly targets interested parties. The largest problem with traditional marketing stems from the fact that, in order to determine who is interested in a product, the business would have to ask everyone. Changes in information access are forcing the game to evolve. Now, businesses can enjoy presenting their product to those who seek them out. Moreover, this new media revolution costs almost nothing to set. It is clear that traditional marketing is approaching the a revolution. It is a twitching dinosaur who is awaiting his doom.
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Mankind is currently standing on the verge of the greatest change in lifestyle, which he has ever undertaken. All around the globe, businessmen and other enterpenuirs are racing to cash in on the future of marketing. Tradition is being turned on its head as all of free enterprise begins plans to phase out age-old methods to, more effective, and most cost-conscious world of the Internet. Their logic is not too difficult to understand. Last year, American businesses spent billions of dollars advertising their products by magazine, newspaper, radio, television, and mass mailers. They flooded the homes of America, targeting every breathing carbon-based life form they could find, with countless jingles, images, song and dance in an attempt to peddle their often unwanted goods. This type of nuclear marketing (dropping a powerful load at a random percentage of the population) has been the backbone of corporate America.