1. Research and provide two examples of how Coca- Cola is using Social Media for
ID: 395917 • Letter: 1
Question
1. Research and provide two examples of how Coca- Cola is using Social Media for marketing purposes. 2. Read the Marketing Analytics Starbucks case study article in Chapter 1 of your textbook. 3. How does Starbucks currently implement the 4 Ps of Marketing? How has Starbucks used technology to improve this process? (You must include examples from the case study in your textbook) 4. What is a Marketing Strategy? Clearly define. 5. What is Apple's Sustainable Competitive Advantage over its competitors? 6. Conduct a SWOT analysis of Apple. Here is a template to use: swot4.docx 7. Describe how Situational and SWOT analyses are used by a business or marketing firm. *Please submit your assignment in a Word document. Remeber to double-space, spell check and list resources usedExplanation / Answer
Q1) Research & provide two examples of how Coca-Cola is using Social Media for marketing purposes.
Ans: Two examples of how Coca-Cola is using Social Media for marketing purposes are:-
(i) Twitter provides some tactical benefits in terms of brand marketing. Videos and pictures can be showcased beautifully on it. Twitter, the company have a dedicated page for various products and sub-brands. The social team uses Twitter to respond to complaints, request, compliments and etc. Twitter has more of customer engagement.
(ii) Facebook, the company have more than 90 million fans. The company main strategy is to maintain brand image and raising awareness of its ad campaigns. They also have a fan page for its other products like diet coke, Coca-Cola zero.
(iii) Youtube, videos are mostly hilarious and capture the moments of joy in people’s life.
Q2) How does Starbucks currently implement the 4Ps of marketing? How has Starbuck used technology to improve this process?
Ans: The 4Ps of marketing implementation of Starbuck is:-
(i) Products- Starbuck continuously innovate the main categories of products like Coffee, Tea, Pastries, Smoothies & etc. Starbucks-brand ice cream, coffee, and seal bottled cold coffee drinks are sold at selected grocery stores. Starbucks uses features like brewed coffee with various variety like cappuccino, caramel cappuccino, tea. They use very attractive, decent and convenient design and high quality of fresh products. The company has an ongoing product innovation process to offer new products & to attract and keep more customers.
(ii) Pricing- They have the Premium price for the premium product. This high price is because of the high fuel price & the Fairtrade movement. The high price is because of its use of advanced technology. Starbucks has competitive pricing and relative pricing strategies in its marketing mix.
(iii) Place- The company prefers higher income group location places like airports, malls etc. It is present in more than 70 countries with approx 5000 licensed locations. Originally, the firm sold its products through Starbucks cafes. The company offers few of its products through the online Starbucks Store & Starbucks App & also allow customers to place their orders online or through App.
(iv) Promotion- This is achieved through advertising, personal selling, public relations & sales promotion. Advertising through radio, TV, billboards, movies, Facebook, Twitter & etc. They provide a gift card to start relations.
In all the 4 P's we find that the company has used the changing technology to gain public interest. This is through FB, twitter, Movies, Starbuck App, supply chain, online survey, high tech coffee machines and etc.
Q3) What is a Marketing Strategy? Clearly define.
Ans: Definition- Marketing strategy is defined as a long-term & forward-looking approach to planning with the fundamental goal of achieving a sustainable competitive advantage. It is the overall plan to reach people and turn them to their customers of product and services.
There are various strategies depending on the utility and demand for the product, cultural and geographical factors etc. The strategies have a significant importance with undifferentiated marketing, differentiated marketing, marketing, concentrated marketing, and micromarketing. These methods help to promote a brand in a required manner. Let's try to understand these methods:
(a) Undifferentiated marketing- This type is also known as mass marketing. For Example, Pepsodent (toothpaste) here company appeal to all prospective customers with a single product line.
(b) Differentiated marketing- This type is also known as multisegment marketing. For Example, Samsung here the company offers its product and services for various market segments with different strategies for each of them.
(c) Concentrated marketing- This type of marketing strategy has its focus on a particular target segment. For Example, Dental industry, here the marketing of specific audience segment is carried.
(d) Micromarketing- This type of marketing strategy particularly focuses on a group of tightly targeted consumers. For Example, the pop up ads in Instagram, other web pages.
(e) Macromarketing- This strategy mainly helps to understand the opportunities for marketing. It tells the impact on society and the economy.
The marketing strategy should involve a traditional and cultural touch of that economy. And it will be very helpful if the company thinks for people of the middle class of the economy.
Q4) What is Apple's sustainable competitive advantage over its competitors?
Ans: Apple which is a multinational corporation that manufactures computer software and design consumers electronics. Apple has predefined objectives towards business planning, project planning, and execution. The perfect alignment is because of a perfect strategy of management. Apple offers a unique product to different market segments and never compromise on the use of the latest technology. Apple stands out in the market, they focus on key features that differentiate the company and its products from competitors. Apple has the extreme growth strategy, product development as its main intensive growth than the competitor.
The success of the Apple Company is linked to innovation and the leadership of Steve Jobs. Its organizational structure is responsible for providing support for such leadership. The organizational structure is mainly a traditional hierarchy. Apple has the Generic strategy; apple stands out in the market, they focus on key features that differentiate the company and its products from competitors. Apple has the extreme growth strategy, product development as its main intensive growth than the competitor.
Apple has the Generic strategy and Apple gives more priority to low-order needs of an employee by setting average salary which can ensure survival, training and safety standards. Apple has the biggest strength that includes the strong brand image, effective innovation process. The same time it has a weakness that involves high selling prices, less distribution network.
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