* Segmentation comprises identifying the market to be segmented; identification, selection, and application of bases to be used in that segmentation; and development of profiles.
* Targeting is the process of identifying the most attractive segments from the segmentation stage, usually the ones most profitable for the business.
* Positioning is the final process and is the more business-orientated stage, where the business must assess its competitive advantage and position itself in the consumer's minds to be the more attractive option in these categories.
2. INTRODUCTION
The Coca-Cola company is the world largest beverage company.
The company best known product coca cola was invented by john Stith
Pemberton in 1886.
The Coca-Cola formula and brand was bought in 1889 by ASA Candler who
incorporated The Coca-Cola company in 1892.
Coca-Cola currently offers nearly 400 brands in over 200 countries or territories
and serves 1.5 billion servings each day.
The Coca-Cola company headquarter is in Atlanta, Georgia.
Its current President and CEO is James Quincey.
With the acquisition of major brands in India, it went on to be known as The
Hindustan Coca Cola Beverages Pvt. Ltd.
3. MARKET SCENARIO
Based on Interbrand’s best global brand study of 2015, Coca-Cola
was the world's third most valuable brand.
Gained an advantage over pepsi when it took over Parle in 1994.
Coca Cola focuses on a diversified product portfolio, both within the
beverage industry and has few products outside of that industry.
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7. SEGMENTATION
Market segmentation involves dividing a market into smaller groups of
buyers with different needs, characteristics or behaviors that might
require separate marketing mix or strategies.
Segmentation can be divided into various parts:-
1. Geographic Segmentation ( Regions, Climate )
2. Demographic Segmentation ( Age, Gender, Family Size, Income )
3. Psychographic Segmentation (Lifestyles, Social Class, Personality )
4. Behavioral Segmentation ( Occasions, Usage Rate, User Status, Speed)
Coca Cola has more than 400 distinct items line, aggregate of 3,500 item
blend.
8. Coca Cola uses different blends to target different age groups, ethnic
groups, sexes, lifestyles, etc. for example they use “OASIS”, a juice to
target the age group of 20-30. And also it produces products like “Diet
Coke, Coca Cola Zero” for the health conscious people who don’t prefer
calories but cannot forget the taste. This age group consists of the people
aged 30-50.
Coca Cola even uses special packs at special occasions to encourage
people to buy more of their products. Like “Christmas Celebration Bottle
Bow, World Championship Games” for which their sales even went up by
a good margin.
Disney Hundred Acre Woods – fruit juice for kids; Odwalla - for adults
who want a grown up taste in a healthy fruit beverage; Powerade - sport
drink, targets athletes between 13-27 ages
Targets different income level. For example, by packaging: for low level
income, the company is selling returnable glass bottle; for high level
income, the company is selling coke in tins
9. TARGETING
Target marketing tailors a marketing mix for one or more segments
identified by market segmentation.
Target marketing contrasts with mass marketing, which offers a single
product to the entire market.
Two important factors to consider when selecting a target market
segment are the attractiveness of the segment and the fit between the
segment and the firm's objectives, resources, and capabilities.
Coca Cola has surely targeted the customer’s media habits very
effectively for sure like:
The youthful target gathering of people of the brand cherishes media
presentation.
Mobile era and online networking is a piece of every day life.
10. Coca Cola’s utilization in the late spring is 60% than 40% in the winter; in this
way, the organization’s deals are higher in the mid year. It additionally centers
in hot region on the planet.
This is the reason, despite being an American company, its still doing a very
successful business in India. Where “Ranveer Singh & Mahesh Babu in South
India” are the brand ambassador of the company and the T.V commercials a
very popular and the sales are all time high because the company understood
the principle a while ago “think global, act local”.
This scenario of high sales is seen in most of the Asian and the Gulf countries,
reason being the temperature.
Coca Cola has deliberately situated itself inside of the world soda pop market.
It confronts a crucial inquiry: does it need to keep the same situating or to
adjust as indicated by the 200 nations where the brand offers its items. Coca
Cola items are obtained by various classes, yet mostly by middle to high level
class.
11. DIFFERENTIATION
A differentiation strategy is the development of a product or service that offers
unique and differentiating attributes which are valued by customers and perceive to
be better than or different from the products of the competition.
Differentiation in Coca Cola
Coca Cola Company spends round about 20% of their total advertisement budget
for maintaining and communicating on its differentiation strategy.
Coca cola has created its differentiation by utilizing soft sell approach. Company
has successfully positioned itself on the following standards:
Corporate reputation for quality and innovation: one of the best place to work
Successful communication of perceived strengths of the product: Integrated
marketing strategy.
Symbol of joy and fun.
‘The Secret Formula’.
12. POSITIONING
Positioning is the act of designing the product and service offering of a
company in the minds of the customer’s so that:
The consumer can relate the product and service offering to a need or
want.
The consumer can perceive a brand’s characteristics relative to those of
competitive offerings. It is process of creating an image of the product
and service offering in the minds of the consumer.
This impression of the brand by the shopper prompts a high level of
reliability and settles on the acquiring choice more programmed. Coca
Cola has been fruitful by utilizing Unique Selling Preposition word as
“Carry on with the coke side of life”, identified with euphoria
and satisfaction. At the point when the name of Coke is said, the
principal thing that comes into psyche is fun and diversion.