The Role And Nature Of Systematic Literature - Myassignmenthelp.Com

Question: Discuss about The Role And Nature Of Systematic Literature. Answer: Introduction This is a report, which will analyze the strategic marketing management of the organization named The Coca Cola Company. The report will consist of the background of the organization and the situational analysis of the organization. The situational brief will consist of macro, microenvironment analysis and marketing mix. This will provide an overview of the operating environment of the organization. The report will depict the past marketing achievements and issues in the organization. The report will conclude with the latest marketing issue and the mitigation strategies. Therefore, this study will provide a marketing review of The Coca Cola Company and use primary and secondary data to analyze the suitable marketing strategies for the organization. Thus, the report will develop a case study, which will consist of relevant information regarding The Coca Cola Company. The marketing management theories will be applied to provide an understanding about the concepts and their applications in the real-life scenarios. The Coca Cola Company is one of the leading manufacturer and supplier of beverages in the global marketing and has its presence in various marketing environment. This American organization is widely known for the production of non-alcoholic beverages. Methodology The research methodology is one of the essential component of the study and will consist of both primary and secondary analysis. The research methodology will be instrumental in gathering relevant findings in the study. Thus, the study will use mixed methods, which will consist of both quantitative and qualitative analysis of data. The four types of research philosophy are realism, interpretivism, post positivism and positivism (Silverman 2016). The research philosophy used in this current study is positivism, which will observe the data to evaluate the hidden truth in the study. Moreover, the observational scope of the study will be improved by using this philosophy of research. There are two research approaches, one is deductive approach and the other is the inductive approach (Flick 2015). The inductive approach is used for developing new theories and generalizations and the deductive approach is use for validation of the existing theories in the study. In this current study, deductive approach will used for validating the existing marketing theories. Data collection techniques will consist of primary and secondary collection. The primary data will collect quantitative data by using close-ended questionnaires and surveys. The secondary analysis will consist of data collection from articles, journals and relevant website articles. The analysis will consist of graphs and charts collected form secondary and primary data. The analysis will develop relevant findings from the graphs and charts by linking it with the objectives of the study. Sampling will be used for selecting the population sample and consist of two methods, one is the probabilistic sampling and other is non-probabilistic sampling (Mackey and Gass 2015). The general population is huge and it will be difficult to collect data from a huge population size. Thus, a small population sample size will be collected which will represent the overall population sample in the study. There are three types of sampling in probabilistic sampling and they are simple random sampling, stratified sampling and systematic sampling (Csikszentmihalyi and Larson 2014). There are many non-probabilistic sampling methods and one such method is snowball sampling. However, the sampling results are better in probabilistic sampling method and in this study, simple random sampling will be used in to collect data. This provides equal opportunity to the population of being selected. In this study, the population sample will consist of 10 respondents that are marketing experts and have in the industry for a long time. Reliability and Validity of the data is very important in gathering relevant result from the study. Reliability is the ability of the study to develop pr ecise data in study of similar type. Validity is the ability of the study to use all the methods and instruments in a correct way. High validity and reliability is essential for obtaining good result in the study (Panneerselvam 2014). In this study, ethical grounds have been maintained and the primary data has not been used in any other article. Moreover, none of the respondents have been forced to take part in the survey and they have participated of their own accord. Company background Background The Coca Cola Company has its headquarters in Atlanta, Georgia and is among the largest multinational companies in the world. The organization is one of the largest non-beverage and syrup producers, retailer, manufacturer and marketer. The flagship product of the organization is Coca Cola, which has been invented in the year of 1886 and were the distributors of syrup concentrate to different organizations all over the world. The organization had made acquisitions of Minute Maid in 1960, Barqs in 1995 and Thumps Up in 1993 (Company et al. 2017). The organization made acquisition of Odwalla brand in the year of 2001 for $181 million and Fuze Beverage in the year of 2007 for a price of $250 million. Coca Cola purchased Columbia pictures in the year of 1982 for a price of $692 million and sold the studio to the company at the year of 1989 for a price of $3 billion dollars (Company et al. 2017). The organization has been selling its products to more than 200 countries in the market. The o rganization generated more than 50 billion of revenue each year from all around the world. The organization has spent millions of dollars on their advertising and marketing campaign. The advertising campaigns of the company has been known for their prolific marketing campaigns which has made a huge impact on the society and the popular culture of the organization. The organization is the market leader in this segment and has the lions share in the market. The organization employed different types of integrated marketing communication strategy by using web-based media, direct marketing, sales promotion and social media. Pestle (Macro environment) Political Social Economic The organization has to comply to the rules and regulation in each of the countries they are operating as they have expanded in more than 200 countries. Thus, FDA plays an important role in launching of their company products. Thus, the changes in any form of laws in a country will definitely affect the distribution of the products of the organization. The company operates in a huge market and so they have to address different social market at different countries. The social environment will be different for different countries. The population will have different disposable income and they will have different tastes and preferences. Thus, in United States the population is health conscious where as Japan they prefer different flavours. As the company operates in large number of countries, there is diversity in culture, taste, preferences and desires. Thus, the organization has been changing the products depending upon the desires. Moreover, the economic stability and growth is different in different countries, which cause problems for the organization. The product strategy will be different in the development countries when compared to the developing countries. However, the organization has been able to generate majority of their revenue from outside United States of America. Technological Legal Environmental Technological growth is different in different countries. The infrastructure of the organization is strong and the advanced machineries used by the organization will facilitate in maintaining the quality of their products. Thus, they have make improvement in the logistics and supply chain management. Thus, the organization has quality product development procedures and fast delivery times. The organization has to deal to business rules, regulations and restrictions in large number of countries. They have held rights to all things related to their business, which includes the present and past products that have been patented by the organization. The main product of the organization is a soft drink and so water is needed for manufacture of their products. Thus, Coca Cola will have to follow environmental laws and norms. They follow the standards in the industrial usage along the rules in using particular machinery. Moreover, the changes in the climatic conditions will affect the sale of their products. Table 1 (Source: Armstrong et al. 2015) Porters five forces (micro environment) The factors included in Porters five forces are as follows: Threat of new entrant Threat of substitute The bargaining power of the suppliers The bargaining power of the buyers Competitive rivalry The entry barriers in beverage industry are relatively low when compared to other market industries. This is because of the fact that the capital requirement and switching cost in the industry is zero. Thus, there is an increase in the number of similar products in the market and it is expected to keep on increasing. Coca Cola has been in the market for a long time and the image of the brand is good (De Mooij 2013). Therefore, they have loyal customers in the market who will not switch brands this easily. Thus, the pressure in the market in medium which means that the organization have to keep using innovative strategies if they want to maintain their long-term sustainability. The numbers of beverage products have increased significantly, which includes juices, energy drinks and fruit drinks. Thus, the threat if substitution for the organization is medium to high. Moreover, there are products in the market with similar tastes that are less expensive and this is a major threat to the organization (Yunna and Yisheng 2014). The bargaining power of buyer is generally high but due to the segment of loyal customers in the market, the bargaining power is low. The consumers that buy in bulk will have high bargaining power (Dlken 2014). The bargaining power of supplier is due to availability of large number of suppliers in the market. As Coca Cola is one of the largest buyer of raw materials the bargaining power will have to be low for any supplier. There is high competitive rivalry in the industry with Pepsi co being the major competitor of the organization. Moreover, due to the availability of large number of similar and substitute products in the market the competitive rivalry is very high (Yunna and Yisheng 2014). Marketing mix (4ps) Product The product of the organization consists of diverse portfolio. They have 3300 products in the beverage industry. The products are divided in categories such as 100% fruit juice, diet, water, fruit drinks, energy drinks, coffee and tea. Thus, the organization consists of diverse brands in the same segment. Pricing The pricing of the products are done based on the geographic and market segment of the organization. The sub brands have different pricing strategy and are based on pricing of the competitors. The market in the beverage is oligopoly, which means that large number of buyers and fewer sellers. Thus, they companies form cartel contracts to maintain a mutual balance in pricing among the various competitors in the market. Promotion The organization spends huge sum of money on their promotional strategy. They use promotion and advertisement to increase their demand in the market. Lifestyle and behaviour is the basis of their marketing and provide positive feedback to the customers. the organization is involved in CSR activities which is another promotional activity for the organization. Moreover, they are mainly using television and the print media as the mode of marketing. thus, it is essential for the organization to incorporate digital marketing in to business model as majority of the consumers are becoming more and more active on social media websites. Place The distribution pattern follows the patterns of FMCG and the effective distribution channel washes away the medium and small players in the market. the distribution channel has been able to provide penetration in both urban and rural markets which is one of the main reason for their competitive advantage in the market. Table 2 (Source: Khan 2014) Past marketing problems The biggest marketing failure for Coca Cola is their launch of New Coke as their main product and stopping the production of old coke. They were of the perception that preferences of the consumers have changed and they prefer the new taste of Pepsi co. This has been considered as the biggest marketing plan of time by various marketing experts. The loyal customers of the organization were furious over the decision taken by the organization. Coke has been one of the oldest brand in this market and the sentiments of the consumers were hurt as coke was considered to be part of the American culture and history (Cbsnews.com 2017). The sales of the new coke were very low and the organization was forced to take down the product and bring back the old coke. Thus, the old coke has been brought back as classic coke with huge promotional events. The organization has been unable to diversify their product range in to some of their market and this has caused them to lose their competitive edge in the market. Thus, Pepsi co their bitter rival has been able to increase their share in the market. This shows that as the organization has been providing limited number of products in some markets, they are not being able to cater to the needs of some of the target segments in the market (Dekhil et al. 2017). moreover, the organization has been catering a large market segment so that they are not being able go provide the customers with customized products which has caused them to lose their market share. Moreover, the products are marketed with a positive message and is associated with some kind of festivals which has have adverse effects on the brand image. This is due to the fact majority of the population in most of the countries are becoming more conscious about their health and they are avoiding aerated soft drinks with large quantity of sweetener. Thus, the product got substituted by other healthier products in the market. Moreover, similar thing happened with the launch of vanilla coke which had got good response in the some of the Asian countries but were unable to capture the market in India. The product was failure as it targeted to the wrong and priced higher than the normal coke. Thus, the organization intended to provide premium products to the youth of the nation with marketing campaign with which they were unable to relate to. Past marketing achievements Coca Cola is one of the most recognized brands in the industry, raising the bar always by creating innovative activation and having an integrated marketing approach for engaging millions of people around the world. Coca Cola has a rich heritage and gets followed by millions of people from all over the globe. Their previous tagline Open Happiness, which got coined 8 years ago, was considered a huge marketing achievement of the organization (Nascar.com 2017). The brand communicated exactly what they did - they really did sell happiness in their bottles. The campaign was serious, heart touching and cheerful. One of Coca Colas biggest marketing achievements was their very successful digital campaign Share a Coke. The idea was simple, but the response it got was amazing and still now it is a global campaign that has been in use for the last three years. Originally, the campaign was trailed back in 2011, which resulted in a 7% increase in sales volume. The campaign even managed earning a whole of more than 18 million media impressions. The traffic on their Facebook page surged up by 870%, the like percentage going up to 39%. The campaign provided people with the opportunity of ordering a personalized Coke bottle with the help of the Facebook app, while in some areas the labelling got completely changed so that all the Coke products contain a different name on them (Nascar.com 2017). The campaign became a huge success on social media as it turned out that people were loved sharing the images of the Coke bottles with their names on the side. The campaign got expanded across 20 international m arkets, including China, UK and Brazil. The campaign directly appealed to the individual consumer and was able to adapt to narrative structures. Coca Cola was the official sponsor of 2014 FIFA world cup in Brazil, giving the organization ample opportunity of marketing itself to millions of soccer and football fans. The campaign was created for celebrating the united good that came up out of the love of so many people for one single sport. Coke did an amazing job of tapping into a captivating and realistic story with the help of this campaign. The real power of the organization within this campaign lies in their commitment towards following through with what they preach. They do not just tell a story, they be the story. They always find the best way of making the story happen in the real life. Coke very well understands the significance of learning from others and being open to fresh ideas Current marketing management problems and analysis Primary data analysis Which is the soda drink you prefer the most? Product Number of respondents Regular coke 3 Diet coke 1 Regular Pepsi 4 Coca Cola Life 2 Table 3: Preferability Graph 1: Preferability Findings This is a question which will address the preferability of different aerated soft drinks among the consumers. According to the findings of the study, it has been seen that 6 respondents prefer Pepsi over other products. Moreover, the other three products belong to the product line of Coca cola. This shows that coca cola is losing its market share and its bitter rival Pepsi is getting more popularity. Which of the marketing campaigns do you like the most? Product Number of respondents Coca cola 6 Pepsi Celebrity campaign 4 Table 4: Likeability of marketing campaigns Graph 2: Likeability of marketing campaigns Findings This question will address the fact that which the organization has a more likeable marketing campaign. The findings of the study suggest that Coca Cola has a slight advantage over Pepsi in terms of likeability of their marketing campaign. What stimuluses your choice of carbonated drinks? Product Number of respondents Taste 4 Customer loyalty 2 Brand image 3 price 1 Table 5: Influencing factor in buying decision Graph 3: Influencing factor in buying decision Findings This is a question which will address the influencing factor in buying decision of different aerated soft drinks among the consumers. According to the findings of the study, it has been seen that 4 respondents are concerned with taste, 3 respondents are concerned about the brand image, 2 respondents are concerned with brand loyalty and only 1 respondent is concerned with the price of the product. Thus, the taste of the product is one of the biggest driver of buying decision of the consumers. In which of these media channels do you use recognize Coca Cola Advertisements? Product Number of respondents Television 5 Magazines and posters 2 Radio 2 online and social media 1 Table 5: Marketing media mostly used Graph 4: Marketing media mostly used Findings This is a question which will highlight the marketing media mostly addressed by Coca Cola. According to the findings of the study, it has been seen that 5 respondents have mostly encountered the promotional campaigns on television, 2 respondents have mostly encountered the promotion campaigns on magazines and posters, same is the scenario with radio and the promotional campaign encountered is least in online media. Thus, this indicates that the organization is still dependent on television for promoting their range of products. Secondary data analysis The three main challenges according to various online articles states that the organization is facing is battling the reduction of sugar content in its product, use of digital marketing and getting back their reputation in the market. the organization had been struggling in reducing its dependency on sugar products for generating revenue from the market. however, the organization has started Coca Cola life as a product which contains less amount of sugar content but the market share of this particular product is just 2.43% (Hobbs et al. 2017). Thus, the representation of the product in the portfolio of the organization is very less when compared to the other products in the product line. Traditional form of marketing is becoming obsolete day by day and the use of digital media is absolute necessary for maintaining the long-term sustainability of any organization in the market. However, the organization is still dependent on television and traditional form of promotional campaigns for attracting the consumers. However, the sue of the online and social media is increased significantly and it is expected to increase further more. Despite forlorn 300 apps worldwide most of the apps have much less than 50,000 customers or a maximum of 100,000 ((Hobbs et al. 2017). This is nothing when compared to the rival organizations in the marketing and considering the upsurge in the digital era. To address this, Coke is investing heavily among digital, together with David Godsman, an executive in Bank of America. Thus, the organization will be spending majority of its resources on improving the usage of digital marketing in an effective way. This strategy could prove to the one of th e most important upcoming strategies for the organization if they want to gain back the lost share in the market. Over the last 12 months, Cokes buzz score, which is a stability concerning the high quality yet negative matters buyers have stated respecting a brand, has produced at a statistically huge dimension concerning 4.6 proportion factors in imitation of a score regarding -2.1, according after YouGov Brand Index. However, it nevertheless puts that 23rd among about a list on 24 regarding the UKs largest carbonated soft smoke brands. And though Cokes advert cognizance score has that top on the 24-brand table unsurprising, attached its good price range this score has fallen at a statistically massive quantity regarding 2.3 factors in accordance with 19.8, giving desire after competitors certain as Pepsi or Redbull ((Hobbs et al. 2017). While Coca-Cola is presently rolling abroad its One Brand method worldwide, its luminous after utterance that approach has failed to production somebody iconic advertising. And for buzz of return, the commercial enterprise desires every other Share A Coke lev el campaign then for advertising and marketing according to once more existing a compelling purpose for people after buy. On the premise of above realities, it can be said here that one reason Coca-Cola is losing piece of the pie is a direct result of the way that it is providing food for necessities of a tremendous target fragment. Various experts say the way that associations which cook for a little fragment have the preferred standpoint as far as giving tweaked items and administrations to their clients, the same winds up noticeably troublesome for organizations providing food for necessities of expansive target portion. From an advertising assessment perspective, it can be said here that the organization has contributed enormous by focusing on an extensive fragment, however the arrival on speculation for the same isn't coming. Other experts specify the way that organizations confront a hazard when providing food for the necessities of a huge portion, on one hand for doing as such they spend enormous and then again odds of profits not returning are dependably there. This could likewise be a direct re sult of the way that in late decades individuals have turned out to be more wellbeing Conscious, Coca Cola coming in the fizzy beverages classification does not possess all the necessary qualities Conclusion Thus, from the findings of the study it can be seen that the organization always faced problems with their marketing strategy due to their vats market they cater to. The complexity of the market strategy increases with the increase in the number of target segments. In this scenario, the organization is unable to provide customized product to the consumers due to their large market size. 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