Running Head: STRATEGIC MARKETING PLAN

STRAGIC MARKETING PLAN

Strategic Marketing Plan

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Strategic marketing plan

Part A: Environmental analysis and SWOT analysis

Company Description

This marketing plan is designed for the coca-cola company, a multinational beverage company that manufactures, retails, and markets non-alcoholic beverages.

Mission Statement: To refresh the world and make a difference.

Vision Statement: To craft the brands and choice of drinks that people, to refresh them in body and spirit. And done in ways that create a more sustainable business and better shared future that makes a difference in people's lives, communities, and our planet (The Coca Cola Company, 2020).

Product Line Description

The coca-cola company sells more than 3500 products globally. Major products of this company in the USA include Fanta, sprite, different flavors of coke, Dasani water, and minute maid among others. This is just a short list of what this company has in its market around the globe. There are 7 main types of drinks that this company manufactures worldwide. They include energy drinks, juice drinks, soft drinks, sports drinks, tea and coffee, water, and other drinks (The Coca Cola Company, 2020).

Company Information

The company operates in more than 200 countries globally. It is a large company that works with bottling partners to efficiently serve their customers. The headquarters of the company is in Atlanta, Georgia but there are bottling partners in all the countries that the company operates. There are more than 700, 000 employees in the company. Local bottlers ensure that consumers can access the products from wherever they are. The company upholds inclusion, curiosity, and diversity (The Coca Cola Company, 2020).

Environmental Analysis

Competitive Forces

Pepsi is the main competitor of coca-cola since the late 19th century. Other competitors include the Keurig Green Mountain Group and Tropicana among others. The competitors produce the same products as coca-cola. While Pepsi has expanded to other food brands, coca-cola has stuck to non-alcoholic beverages. The main competitive advantage that coca-cola has is loyalty. The fact that it moves with trends in beverages has enabled it to have a loyal following thus minimizing risks of competition. Also, coca-cola has resulted in producing healthy alternatives to soft drinks (Fern Fort University, 2019).

Economic Forces

The main economic forces affecting the coca-cola company are inflation rate and rate of foreign exchange. There is also government intervention in the free market which affects the supply of consumer goods. The economic growth rate of a country, interest, and saving rates also affect the company's operations differently in different countries. In countries where the cost of labor is high, the cost of operation also becomes high (Fern Fort University, 2019).

Political Forces

The company operates in many countries and is therefore exposed to many political environments. The forces that level of corruption and trade regulations on consumer goods. In some countries, there have been anti-trust laws on soft drinks because of controversial issues that have been raised about these drinks being harmful to the health. The company's operations may also be affected by product labeling and other requirements as well as regulations on pricing (Fern Fort University, 2019).

Legal, Regulations, and Ethical Issues

Coca-cola is a major producer of plastics through the packaging bottles. Most countries have a ban on plastic waste and this can affect the company's operations in such countries. Health and safety laws may also affect the company's operations because some people think that these soft drinks are not healthy. Ethical issues such as discrimination during employment are also likely to affect the company's operations in various countries (Fern Fort University, 2019).

Technological Forces

Technology is fast affecting marketing all over the world. Technological advancements by the company's competitors will affect its operations by placing the competitors at an advantage. The rate of technology diffusion will also affect operations because the company will either have enough or little time to cope depending on the diffusion rate. If the technology affects the cost of production, all the company operations will be affected (Fern Fort University, 2019).

Social Forces

Social forces that are likely to affect the company's operations include the level of education of target consumers, their culture, attitudes, and interests. This will determine how well the company will understand them and to what extent the people will be willing to purchase the company's products (Fern Fort University 2019).

Current Target Markets

The main target market for coca-cola is the youth. There is no difference in the use of coca-cola products by gender as both like and use it equally. According to research, 59% of school-age children and adolescents in the United States consume coca-cola products daily. This group is the leading consumer of company products. By venturing into the production of healthy drinks, the company also targets people with health issues (The Coca Cola Company, 2020).

Current Marketing

Coca-cola spends an average of 4 billion dollars annually on advertisements. Over 20 percent of this amount is spent on advertisements in the United States. The company also uses viral and direct marketing. They have partnerships with vendor companies and this eliminates competition. Consumers can also get information regarding the company on the web and social media. The company also uses sales and promotions as a tactic to market their products (The Coca Cola Company, 2020).

SWOT Analysis

Strengths

The company has a strong brand identity that has enabled it to win the loyalty of many of its customers. The company operates in more than 200 countries globally enabling it to reach many people. The company brand has been ranked as the third-best in international brands. Coca-cola has the largest market share among the manufactures of soft drinks and has the most efficient distribution network. The company acquired Ades in 2016 thus expanding its beverage portfolio (Business Strategy Hub, 2019).

Weaknesses

The company faces tough competition from Pepsi and there is low diversification of products in Coca Cola Company. While Pepsi has ventured into food snacks, coca-cola has remained in beverages. The health concern is a controversial issue that the company has not yet found solutions for (Business Strategy Hub, 2019).

Opportunities

The company can introduce new products and achieve diversification. They can also advance their system of supply chain and extend their operations in developing nations. There is also an opportunity to expand their packaging of drinking water and to bring in more brands of healthy drinks (Business Strategy Hub, 2019).

Threats

The company has faced a lot of criticism on issues of water management as it is said to consume a lot of water in regions where water is scarce. Issues have also been raised regarding the company's use of plastic bottles for packaging. Many other companies are competing with coca-cola apart from Pepsi (Business Strategy Hub, 2019).

Converting Weaknesses and Threats to Strengths and Opportunities

Coca-cola should consider venturing into the food market and should come up with solutions to address the rising concerns about health from activists. The company should have a well-established water management system that will save it from criticism from environmentalists. Coca-cola can also venture into green marketing and work on its sustainability to improve its brand image (Business Strategy Hub, 2019).

References

Business Strategy Hub. (2019). Coca Cola SWOT Analysis. Retrieved from https://bstrategyhub.com/swot-analysis-of-coca-cola-2019-coca-cola-swot-analysis/

Fern Fort University. (2019). The Coca Cola Company PESTEL and Environment Analysis. Retrieved from http://fernfortuniversity.com/term-papers/pestel/nyse4/710-the-coca-cola-company.php

The Coca Cola Company. (2020). Our Company. Retrieved from https://www.coca-colacompany.com/company

The Coca Cola Company. (2020). The Coca-Cola System. Retrieved from https://www.coca-colacompany.com/company/coca-cola-system

MKT/574 v1

Strategic Marketing Plan

MKT/574 v1

Page 2 of 2

Strategic Marketing Plan

Part A: Environmental Analysis and SWOT Analysis

(Due in Wk 2)

Company Description

Describe the company you are designing the plan for. Include:

· Mission Statement

· Vision Statement

· Product line description

· Company information, such as the size of the company

Environmental Analysis

Analyze the forces that affect the company and marketing efforts.

Competitive Forces

Analyze the company’s key competitors. You may choose to use a BCG Matrix or attribute checklist to compare your company against its competitors. Describe any strategic moves the competition has recently made. Estimate your market share. Identify key competitive advantages against your competitors.

Economic Forces

Analyze the economic environment in the areas affecting your business. Consider differences within your industry and the economic impact on suppliers.

Political Forces

Analyze relevant political forces. Examples may include an election year or a law to drastically reduce or eliminate plastic waste in your county.

Legal, Regulatory, and Ethical Issues

Analyze the legal, regulatory, and ethical issues that may affect your business. Considerations may include local laws such as a ban on the use of plastic bags, the ability to post billboards, or a possible increased regulation on direct mail.

Technological Forces

Analyze whether your company will be affected by emerging technologies or trends in hardware and software industries

Social Forces

Analyze social trends and how they may affect your business. Considerations may include if your business will be affected by demographic trends, a growing dependence on computers, or whether interest in your product might be affected by growing preferences in the way things are done or changing social values.

Current Target Markets

Define the company’s current target markets. Describe the demographic, geographic, psychographic, and product usage of these targets.

Review Current Marketing

Review the company’s current marketing tactics. Consider how people find out about the product, how they get information about the product or service, what might be involved in the buying process, and what money is available for marketing. If your company is a start-up, describe your competitors’ current marketing.

SWOT Analysis

Assess your company’s strengths, weaknesses, threats, opportunities, and then evaluate how to address these in your marketing plan.

Strengths

Assess your company’s competitive advantage. Consider core competencies, assets, location, practices, etc. that are distinct in the way the organization meets the needs of its customers.

Weaknesses

Assess what limits the company may have in its current marketing strategy. Consider if there is a company weakness that needs to be addressed through Public Relations or Marketing.

Opportunities

Assess the opportunities you see based on trends or environmental conditions.

Threats

Assess the threats or limitations that may interfere with the company’s ability to meet its objectives or interfere with marketing plans.

Strengths to Opportunities & Converting Weaknesses and Threats

Convert weaknesses and threats to strengths, then strengths to opportunities in the marketing plan. Consider the implications for addressing supplier relationships, implementing new technologies, or changing the product line or addressing new markets.

Marketing Objectives

Establish marketing objectives based on the results from the SWOT analysis. Marketing objectives must align with corporate objectives, modified by the company’s resources. Objectives should include a date for the completion of the objective and the way in which success will be measured. For example: The company will expand its marketing efforts to include a new market segment of 21- to 29-year-olds. This will entail the development of a customized product by June 2020 that will address the specific psychographic and technological needs of this age group. This strategy is expected to attain a 20% growth in overall sales by January 2020. Customer loyalty (willingness to recommend the product) will increase by 30%.

Part B: Marketing Data Analysis

(Due in Wk 4)

Internal Data

Evaluate internal sources of information available to you inside the organization and what information you will receive from each source. Identify 3-6 sources of internal data. Insert or remove rows as needed.

Secondary Data

Evaluate secondary data sources and the specific information you need from each source. Insert or remove rows as needed.

Primary Data

Evaluate primary data needs to create and evaluate the marketing plan. Insert or remove rows as needed.

Customer Relationship Management

Establish customer touchpoints and develop appropriate CRM events for customer acquisition, retention, and profitability. Insert or remove rows as needed.

Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring

Strategic Actions

Develop specific activities required to implement the marketing plan. Identify the person or role who will be responsible for each action, when it will be complete, and what standard or metric indicate that the activity is complete. Insert or remove rows as needed.

Monitoring

Develop the measurement to identify how you know you have been successful for each strategic action. Specify the measures to track performance against goals. Identify standard reports from your online and traditional marketing efforts. Insert or remove rows as needed.

Copyright 2020 by University of Phoenix. All rights reserved.

Copyright 2020 by University of Phoenix. All rights reserved.