Essay On Marketing Framework

This section describes the underlying set of ideas that provides the basis for investigation in this study. It reveals the image of the coca cola products among the consumers, identifies the competitors, and brings to light the strategies used in marketing/selling the product. The framework is divided into three parts: the buyer’s needs, which describes the satisfaction derived from the product (values of customers); the product positioning, which describes the strategic attributes of the product that gives it the competitive advantage over its competitors; and the marketing/selling strategies employed for the product. The framework is very crucial as it acts as a bridge that links the research objectives and questions to the findings and solutions.
Part one is devoted to the five major customer values which shows the benefits and problems derived from the product. Coca cola customers derive functional satisfaction from the product in various manners. When purchasing a product, the buyer expects the product to satisfy certain functions, and coca cola delivers exactly that. The product is the best option in soft drinks and the users feel satisfied whenever they drink coca cola. It is very easy to purchase. Coke products are very common and stocked by almost every retailer in every neighborhood, thus great convenience in purchasing. Coca cola is a better product and is the future of soft drinks.
There is great social satisfaction from the product, and is the reason for its popularity. The image of the product defines its social class. Apparently, coca cola cuts across all the social classes. It has a strong positive social image. Coca cola is present and very common at social gatherings. It is convenient and popular for families with teenagers, the middle class people, and the adults aged 25-40. This however, doesn’t mean that the product is unpopular in other social classes. Being a non-alcoholic drink, coca cola is popular among non-alcoholics. But amazingly, coca cola blends well with alcoholic drinks and most people drink it when mixed with alcoholic drinks. For sure, coca cola has no social boundary. It delivers great social value.
Emotional value is of great importance when making purchases. Emotional satisfaction is a strong decisive factor that determines what one purchases or omits. Emotionally, coca cola customers feel good when consuming the product. Some get irritated if they don’t drink coca cola. Others are simply unhappy if they fail to drink coca cola.
Coca cola also comes with conditional satisfaction. Conditional changes such as environmental changes, changes in weather and climate, economic changes, among others, greatly affect the purchasing decision. Coca cola has no environmental boundary. Coca cola consumers derive great satisfaction from the product especially during warm weather conditions. Besides, coca cola is less expensive than other soft drinks thus convenient for low income customers or during hard economic times. Cold weather conditions, however, affect the purchase of coca cola.
Finally, coca cola comes with epistemic satisfaction. Epistemic value measures the curiosity and novelty, and greatly contributes when making purchase decision. Human is a curious being with great affinity to try something new. People bored with other drinks normally want to try something new, and they end up in coca cola. Some people are curious to try carbonated drinks and others want to experience the tickling of the gas down their throat. Coca cola comes with all these satisfactions.
These five values reveal the image of the product among the consumers, and define the buyer’s need. Buyer’s need is also defined by the demographic profile, the lifestyle profile, and the market segmentation. The demographic profile defines those who are most likely to use the product. For Coca cola, both males and females are users. Peopled aged between 18 and 45 are the greatest consumers of coca cola. The product is common among single individuals. It is mostly consumed in urban areas, and common among those with no college education. The lifestyle profile defines the way of life of those who use the product. Coca cola is used by those without health problems, the party people, and the alcoholic drinkers. Market segmentation defines the various groups of prospective buyers/users of the product. For this case, the 5 values and the 4P’s have been used. The T-test table together with parts 2 to 6 of the questionnaire has been used to develop the attributes that fall within the 5 values section, and the 4P’s used to develop the segmentation grid.
Part two describes the product positioning. Here, the main features of coca cola are identified. Such features include the product’s cost effectiveness (low price), its ability to blend perfectly with alcoholic drinks (coca cola is great when mixed with alcohol), the large variety of package selection, being the preferred drink in the absence of alcohol, and the popularity and acceptability among all social classes. Also identified are the competitors of coca cola such as Gatorade, Dr Pepper, Pepsi, and Vitamin Water. Finally, the positioning map is established.
Part three describes the marketing strategy. It looks at the 4 P’s of coca cola. Generally, marketing is the most important activity in any business as it directly influences sales. With the growing competition as customers have wide variety of products to choose from, motivation is of utmost importance. Customers need to be motivated in order to ensure their loyalty towards a product. The 4 P’s of coca cola delivers exactly that - motivation! The product is innovative due to the fact that coke has been in the market since 1886 and the company keeps producing new products consistently. This motivates the customers who want to try something new. The promotion strategy is pull. The company advertises on TV, newspapers, magazines, and Internet. Besides, it sponsors various events. The pricing strategy is penetration. The product is competitively priced for those with monthly disposal income of less than $250. The low price greatly motivates customers. The place strategy is intensive. Coca cola is available in supermarkets, vending machines, gas station, and other convenient stores. Its availability generally motivates the customers due to the great convenience in purchasing it.