The promotions role in the marketing mix is to “bring about mutually satisfying exchanges with target markets by informing, educating, persuading, and reminding them of the benefits of an organizations product” (Hair, Lamb, & Mc Daniel, 2006, p. Since the Coca-Cola Company operates on a global scale, their promotional strategy needs to consider the external environment in which their products are.
These external environmental factors include culture, economic and technological development, political structure, demographic makeup and natural resources (Hair, Lamb, & Mc Daniel, 2006, p. For example, the Coca-Cola Company promoted its new Coke Zero in Australia differently than it did in the United States because of the different external environmental factors associated with that segment (Alarcon, 2007).
The prices of the Coca-Cola’s Companies products vary according to the brand and the size in which they come in (Coca-Cola Company, 2006).
The Coca-Cola Company’s products are sold by a wide variety of distributors and retail stores, such as convenient stores and gas stations, as well as vending machines (Coca-Cola Datamonitor, 2007).
Place/Distribution: Another crucial part of the marketing mix is place and distribution of an organizations product. retailers and distributors) instead of directly selling to distribute its products worldwide (Coca-Cola Datamonitor, 2007).
Place and distribution strategies are “concerned with making products available when and where customers want them” (Hair, Lamb, & Mc Daniel, 2006, p. The Coca-Cola Company states in its mission statement that it wants to offer its products to all consumers globally (Coca-Cola Company, 2006). The Coca-Cola Company also uses intensive distribution strategies to make sure their products can be available everywhere.
Therefore the Coca-Cola Company products can be considered a business product.
The Coca-Cola Company has a fairly large product mix which contains about 400 brands, including diet and light beverages, waters, juice and juice drinks, teas, coffees, energy, and sports drinks (Coca-Cola Datamonitor, 2007).
In addition, the Coca-Cola Company is in many other countries including India that are in the growth stage of the product life cycle (“Marketing: New products”, 2007).
The Coca-Cola Company’s growth in these areas are caused by their improved marketing to consumers, better relationships with bottlers, their “live happily” campaign in 200 markets, and the launch of Coca-Cola Zero.