MKT10007: Fundamentals Of Marketing And Experience Essay

Question:

This assignment assesses the following unit learning outcomes:
1.demonstrate a broad understanding of the major conceptual and theoretical principles upon which the practice of marketing is based
2.demonstrate a general understanding of marketing management tasks and of how marketing fits into the organisational environment and interacts with diverse environments
3.work effectively as an individual or a team member to communicate effectively whether orally or in writing.

Answer:

Introduction

Marketing Mix determines the attractiveness and demand of particular products and services offered by Companies (AHMED 2015). This report aims to evaluate a purchase experience of Coca Cola 600ml pack, in order to provide a detailed insight on how the marketing managers of Coca Cola Company applied the four P’s of a marketing mix and influenced the purchasing decisions of a consumer.

The purchased product is Coca Cola’s very popular 600ml mobile pack and comes in portable plastic bottles. The product comes under the category of ‘Beverages’ and also comes under the subcategories of soft drinks, carbonated water, soda.

The product is available in Coca Cola’s 1.25l plastic bottles with their iconic red color bottle-cap and red label with the brand’s name. The logo of the Company is on the front of the label and the rest of the description written at the back.

The indomitable impulse to purchase the product and consume it is triggered with the visual representation of a young girl drinking from a similar Coca Cola bottle, projected at the place of sell, which led to the purchase of the product.

The product was bought on impulse for immediate consumption. The consistency in quality and taste of the product makes it highly active in the market (Peltoniemi 2014).

The alluring packaging of the product makes it more attractive and in demand for the respective consumers.

The product is widely available in most soda shops, restaurants, canteens, super-markets, or other shops in Australia. This particular product was bought from the Sydney Park Supermarket, from the Beverages section.

The Beverages section at the super-market also offered a wide array of choices amongst carbonated drinks and other soft drinks manufactured by competing organizations, like Pepsi, Amul milk shakes and other local Companies.

The product was displayed on a large red color display refrigerator, which helped to keep the product chilled as well as attract consumer’s attention towards its red exhibit with the picture of a young woman drinking Coca Cola, displayed at the side of the refrigerator (Bansal 2017). The display was situated right beside the cash counter so that all the buyers can notice it at least once, when they wait in the queue for billing purposes. The tactical display of the product near the cash counter further draws attention of buyers and helps in coaxing them into buying the product.

On this particular occasion, the product was available at an offer price of $2.10 instead of its regular price, which is $3.00, thus allowing $1.68 discount per liter. As the product has not been a very popular of the Company, the initial price-drop not only interested consumers in buying the product but also helped in reaching out to more people (Clerides and Courty 2017). As compared with the products offered by competing organizations, Coca Cola maintains the same price. However, due to multiple factors like the demand for consistency in taste and quality, availability of the product at a reduced price and unstoppable surge to consume the particular product, triggered by its alluring packaging, the similarity in price between the chosen product and other available products played an insignificant role in determining the consumer’s choice.

As the Coca Cola Company had to increase its sale of 1.25ltrs bottles, the product was available at a discounted price for its promotional purposes (Douglas, Craig & Nijssen 2018). The reduction in price played an important role in affecting the buying preferences of the consumer, and can be expected to attract a lot more potential customers than before.

As the Coca Cola 1.25ltrs is widely available in most Confectionaries and super-markets, it can be said that it targets or appeals to consumers belonging to all age groups and genders. Offering caffeinated carbonated soda drinks, Cadbury not only attracts the energetic young generation but also has become a popular choice for adults and old persons.

As understood from the four P’s of the Marketing Mix, the chosen product has a number of attributes that add to its branding values (Ramli 2018). Based on the brand’s advertisements and public exposures it can be said that the Company reflects the attributes of joyfulness, sharing and fun. The bright red color reflects a sense of luxury, which is one of the defining attributes of the brand.

Conclusion

To conclude, the purchasing decision of a consumer can be monitored and influenced by using various business tools. The four P’s of a marketing mix include the price, place, product and promotion of a chosen consumable and they determine the purchasing choices of the potential consumers.

References

AHMED, S 2015, "The Effects Of Marketing Mix On Consumer Satisfaction: a Literature Review From Islamic Perspectives ", Turkish Journal of Islamic Economics, vol. 2, no. 1, pp. 17-17.

Bansal, A 2017, "Television Advertisement: Children's Inclination towards Chocolate Products", GBAMS- Vidushi, vol. 9, no. 02.

Clerides, S and Courty, P 2017. “Sales, quantity surcharge, and consumer inattention”, Review of Economics and Statistics, 99(2), pp.357-370.

Douglas, S, Craig, C & Nijssen, E 2018, "Integrating Branding Strategy Across Markets: Building International Brand Architecture", Journal of International Marketing, vol. 9, no. 2, pp. 97-114, viewed 20 November, 2018, <

Peltoniemi, M 2014, "Cultural Industries: Product-Market Characteristics, Management Challenges and Industry Dynamics", International Journal of Management Reviews, vol. 17, no. 1, pp. 41-68.

Ramli, N 2018, A review of marketing strategies from the European chocolate industry.

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