This would ensure that the number of customers increases as the product offering becomes more diversified and is able to suit more tastes. Sales would immediately boost up, in part due to the promotional strategies, but the growth must be sustained even after the promotions are over. The reason for this specification is that several companies registered record sales during promotional periods, but the revenues were unsustainable in normal periods.
Constant communications with the final consumers and the retail customers would also help in identifying newer needs and trends. The satisfaction of these demands would eventually lead to more buyers and a significantly higher market share.
Improve customer relations good relationship with the customers, both end consumers as well as retail customers, is the key to a successful corporate outcome. In order to improve it, the company could delegate manages to talk with independent vendors and identify any shortages or dissatisfactions they might encounter. For instance, the vendor of a street kiosk might not like it when he has to pay the fee before having sold the products; he is as such forced to invest and risk his own money. The company could allow his payment only after he has sold the beverages. The list of examples could go on for pages, as the complaints are numerous, even more when the operations are conducted at global scale; but whichever problem encountered can be resolved through communication.
And communication also implies ensuring the means. In other words, the multinational organization could offer the retail customers mobile phones through which they could more easily contact a Coca-Cola representative and request assistance.
Finally, however the third method is already present, that of offering specialized business consultancy, the company could further expand these operations and ensure that their vendors are able to understand the market, the industry and they are accordingly trained to satisfy the needs of the final consumers.
Increase exports and serve unserved customers
In order to be able to enter new markets and attract the unserved customers, the Coca-Cola Company could develop a growth strategy based on Igor Ansoff's matrix:
Source: 2008, Ansoff Matrix, Strategy Vector Model
The author of the matrix identified four different strategic approaches: market penetration, market development, product development and the fourth, diversification. The first sees that the company is trying to increase its market share in the existing markets with increased sales of the already existent products. The second strategy sees that the company aims to grow by selling its current products onto new markets. The third one foresees that the economic agent operates on the existent markets, onto which it launches new products. Finally, the diversification strategy sees that the company will launch new products onto new markets (Strategy Vector Model, 2008).
The Coca-Cola Company could implement the second strategic approach to further expand its current products onto new markets, in order to reach the unserved customers, but also to export their items into new countries. The means to successfully achieve this could revolve around the following:
The Coca-Cola Company could address new potential customers within the United States; the company generally addresses the youth, but they could develop a promotional strategy to place their beverages to the mature population, who could easily become consumers of the natural still drinks
The organization could use different sales channels (Mind Tools, 2008). They could for instance consider delivering directly to offices or construction sites, where the number of potential buyers is quite high, but the access to the beverages is limited
The company could identify new international markets onto which to export their products; they must however consider the cultural and socio-economic beverages; they will not, for instance, export more products to the poor countries in Africa, where the buying power is reduced
Regardless off the strategy chosen, its implementation must be based on actual and clear market analysis and the identification of the unique features, characteristics and demands of each new environment.
Coca-Cola's target market is generally formed from the younger population, coming from various socio-economic backgrounds. In order to appeal to them, the organization implements various promotional strategies. The most important such approach, however not a marketing strategy at its core, is that of developing a strong brand, representing a strong organization. "If Coca-Cola were the name of a person, how would you describe that person? How does that person make you feel? Consumers often prefer products that have a strong, positive image. An important ingredient of this image will be the associations that are evoked in the mind of the consumer. The 'brand personality' is what people think and feel, consciously and subconsciously, about a company identity or product and is described the same way as you would a person" (Business 2000).
Aside from...
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It is important to reconcile the seemingly opposing extremes. It is a best practice to satisfy customer needs by learning from the diversity of adopting, adapting, and combining the best of what already works (Trompenaars and Woolliams, 2004). In regards to the soft drink market in Italy, the best approach would be to utilize adaptation. It appears that standardization would not work as sales in this sector for the same
The third position means stepping outside the situation and seeing issues from the point-of-view of a third party. NLP reminds us that people receive information in various sensory channels: the visual, the auditory, the kinaesthetic (perception of movement of effort) and the digital mathematical or reasoned thinking (Taylor, 2000). The idea being that people use all of these modes, but may have a preferred mode. Ethnographic approach: this takes its
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