Marketing Plan for Coca Cola Australia †Myassignmenthelp.Com

Question: Discuss About The Marketing Plan For Coca Cola Australia? Answer: Introduction Developing a marketing plan includes many researches on different important sectors such as target customers and appropriate market. Marketing plan is a primary stage before sending the product for the market exposure. The plan is made in accordance to the marketing etiquettes, which is very much required while campaigning and marketing a new product (Hollensen 2015). This assignment would try to propose some strategies for a marketing plan for the Coca-Cola Company in Australia. The main purpose of this assignment would be to propose a marketing plan for varied range of products of Coca-Cola in Australia. Moreover, the paper would check every required parameter for a marketing plan development. Identifying market segment To identify the right market segment for the product is of utmost importance for the company. This is because of the fact that a particular product can never target the entire market. Moreover, this would reduce the affirmative control of the company on the customer base. Market segmentation does reduce the area of market and divides it into several segments, which helps the company concentrate on selective types of consumers. This further helps the company become more consumer specific, which is cost-effective as well as healthier for an improved business performance (Westwood 2016). Following are some of the necessary market segmentation for the Coca-Cola products: Psychographic segmentation This is one of the very important factors for segmenting the market as this includes segmenting consumers based on their lifestyles, interest and attitudes. The targeted consumer would be of the age group (14-43). However, it is not necessary that it is only limited to this age group. Moreover, those who are very health conscious and are diabetic patients, they would also be targeted. The chosen products are in varied range such as diet coke, Coca-Cola classic, Coca-Cola with Stevia and zero sugar coke. The chosen products are of different kinds such as low o sugar, zero on sugar and high on sugar. Moreover, the market segmentation would be done accordingly. The less sugar-contained products would be segmented by advertising the speciality into such market, which has health conscious customers in it (Boone and Kurtz 2013). Behaviouristic segmentation This kind of market segmentation targets those customers who are loyal to the brand. The company can use its available data on its existing customers for analyzing the potential loyal customers of the company (Terpstra, Foley and Sarathy 2012). Geographic segmentation This is the segmentation of products based on suitable geographic places for the products in concern. For example, Nestle promotes Nescafe in the colder parts of world for an entire long year; however, to other parts of world, the company goes with the winter season in particular. The market segmentation for the Coca-Cola would be those people of Australia who are living in comparatively hotter parts of the country such as Darwin, Brisbane, Sydney, Perth and Adelaide. These are some cities, which have high temperatures even during the winter season (Babin and Zikmund 2015). The Coca-Cola or any other soft drinks are always a good option for the people living in some hotter parts of world. People living in the hotter parts of world finds thing difficult to adjust to the hotter weather condition. They then do some alternative option to provide them some sort of relieves from the scorching heat of Sun. For example, they wear cotton made clothes, which is a bad a bsorber of sunlight and hence, it is a good resource of less heat. On a same note, people living in hotter parts of world find beverages as a better option against scorching heat. Nevertheless, Coca-Cola is one of the kinds of beverage, which people living in some hotter parts of world finds suitable to their needs (Baker 2014). Figure 1: Market Segmentation Source: (Boone and Kurtz 2013) Suitable market targets The suitable target market is very important in reaching to the targeted industry. To launch a product, it is imperative to reach to the targeted industry. For the marketing of Coca-Cola, the targeted market would be the Beverages industry. In the beverages market, people have different choices such as wine, bear, energy and health drink and soft drinks (Wilson and Gilligan 2012). Figure 2: Suitable Market Target Source: (Palmer 2012) Needs analysis Different products serve different needs such as Coca-Cola with Stevia and Zero Sugar Coke is less harmful for the diabetic patients. The highly growing concerns towards the health conscious activities are binding up customers with the essence of healthcare diets. Nevertheless, soft drinks such as Coca-Cola and other competitors can never serve the purpose of health betterment. People have now become habituated of having cold drinks at different occasions such as at parties, at social gatherings and the personal fulfilment. This is something, which has attracted the Coca-Cola Company towards the marketing of its different products in Australia, as it has both for the health conscious people and for those who love to enjoy (Armstrong et al. 2014). SWOT analysis Strengths Widely popular company Wide range of products and relevant customers loyalty to the companies Brand value Weaknesses Rising case of obesity Rising concerns for the healthier drinks Opportunities Large number of hotter cities in Australia Industry is growing Threats Product imitation as the concept can be easily copied by some other competitors such as Pepsi Customer behaviour, which is highly volatile in nature Table 1: SWOT analysis Source: (created by author) The company is basically a manufacturer of different kinds of soft drinks; however, the changing dimensions of the world and the changing drinking behaviour of customers are a potential threat to the product. People now days are more inclined towards health drinks. They are less driven towards the normal soft drinks. The only major driven point towards the soft drinks is the weather conditions and the lifestyles of the Australian people. These are the two factors, which is the main sell point for irrespective kinds of soft drinks in the market (Czinkota and Ronkainen 2013). Market environment analysis PESTLE analysis Political The local government of Australia is very supportive to the different kinds of industries in the country During the recession in the year 2007, US and European countries did feel the heat of recession but Australia could somehow manage its resources The local government of Australia hardly intervene in the industrial affairs, which is a good sign for the new product launch Political condition is very stable in the country, which is a good sign for the new product launch Economy Highly notable capital growth in the country is a good sign for the new product launch Hold good during the time of recession in the year 2007 Stable economy Social People are adequate with the usage of Stevia as they have already used this in their regular drinks at home High consumption rates Good number of rich family Technology The local government is well supportive in nature It funds around 55% to the advancement of technology Have efficient research development centres such as CSIRO Technical advancement are attracting other companies towards the same product and thereby enhancing the market competition Environmental Notable number of hotter cities such as Darwin Notable number of hot cities during the time of winter such as Sydney Suitable climatic conditions for the consumption of cold drinks Legal Consumption and selling of cold drinks at different schools is prohibited The local government believes that soft drinks are a good resource to several medical disease such as Obesity Table 2: Market Environment analysis Source: (created by author) The market environment analysis of Australia clearly suggests that Coca-Cola should restrict its customer base with the proposed product launch and it should confine this to a limited number of customers. This should never include school children as selling of cold drinks at school premises is highly prohibited. However, the technological advancement and the flourishing economy of the country can encourage the company for the marketing of the products (Palmer 2012). This is because of the fact that the GDP growth per capita of the country is amongst the top countries, which performed better than some big names such as UK and US during the recession in 2007. This further means that average people in the country is capable enough of enjoying their lives, which also mean that they are highly inclined towards the every medium of luxury. The stable local government is also a handful weapon for the success of Coca-Cola (Kotler et al. 2015). Marketing mix Product 1. Coca-Cola Classic 2. Coca-Cola Zero Sugar 3. Coca-Cola with Stevia 4. Coca-Cola Mini Cans Price 1. Starting from AU$3.20 2. Starting from AU$3.50 3. Starting from AU$7.50 4. Starting from AU$8.50 Place Hot cities in Australia such as Brisbane, Darwin, Perth, Sydney and Adelaide Promotion PR campaign Online advertisements Newspaper advertisements Table 3: Marketing Mix Source: (Singh 2012) The products would be in several varieties, which include but are not limited to such as Coca-Cola Classic, Coca-Cola Zero Sugar, Coca-Cola with Stevia and Coca-Cola Mini Cans . The products would be launched on the selective regions initially. The places are such as Sydney, Perth, Brisbane and Darwin. This is because of the fact that these places have very hot climate even during the winter season. The launch of the product would be done by using some selective marketing communication tools such as PR and Advertisements (McKenzie-Mohr 2013). Figure 3: Marketing Mix Source: (Singh 2012) Conclusion The marketing planning for the different Coca-Cola products give a clear indication towards a fact that the product has its own customer base, which is based in different hot regions in Australia. However, defining the success of the product is hard to predict. This is because of the fact that the customers desire is volatile in nature. They sometimes throng to cold drinks to have some relief from the summer hot. However, they are also inclining towards the health related drinks such as Red Bull. The highly incrementing danger of cold drinks on the health is a concern for the new product launch. However, the socio-cultural lives in Australia do favour the flourish of the industry. The socio-cultural factors that exist in Australia is highly favouring to the successful marketing and outcomes of the different products of the Coca-Cola. Most of the Australian cities are hot regions such as Darwin, Perth, Sydney etc. These cities have high temperatures even during the winter season. Ther efore, the higher temperatures in most notable parts of Australia and their social lives are all a potential factors for the success of the business. Nevertheless, the products would face stiff competition from some other brands heath drinks such as Red Bull. The growing concern for healthier drinks is the one problem, which can make situations tough for the success in Australia References Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014.Principles of marketing. Pearson Australia. Babin, B.J. and Zikmund, W.G., 2015.Exploring marketing research. Cengage Learning. Baker, M.J., 2014.Marketing strategy and management. Palgrave Macmillan. Boone, L.E. and Kurtz, D.L., 2013.Contemporary marketing. Cengage learning. Czinkota, M.R. and Ronkainen, I.A., 2013.International marketing. Cengage Learning. 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