Marketing Opportunities
Coca- cola produces, distributes and markets beverages that are noncarbonated and carbonated. Coca-cola products include the most popular and recognized beverages world wide. Coca-cola products include juices, teas, energy drinks, soft drinks and isotonics. Diageo is a company that produces alcohol beverages which include wine, beer and spirits. These brands are; Johnie walker, Baileys, Tanqueray, Smirnoff, etc. Pepsi bottling group produces sells and distributes beverages of Pepsi cola. Its operations are within Canada, Mexico, Spain and Turkey. (Moorman & Lehman, 2004).
One of the marketing opportunities is undifferentiated opportunity. This is referred to as mass marketing whereby the firm’s resources are aimed at the market entirely with one product. This opportunity focuses on what is common in the consumer’s needs and not on what is different. The reason why these firms should persue this opportunity is that there are economies in marketing and production and also it is appealing to everybody.
The risk of this opportunity is that there is a threat from competitors who are strong, it’s difficult to satisfy those consumers with different wants and needs and finally it is difficult to find a market mix that is precise. This marketing opportunity improves the firms’ relationship with the customer. This marketing strategy is low hanging because it will lead to great impact with low costs. (Mallory, 2010).
The other marketing opportunity that each of these firms should persue is differentiated marketing. This a marketing which is multi segment whereby a company more than two segments of market by product selling and marketing strategy that is unique which is tailored to each segment that is different. The reason why each of these firms is that it would help these companies to obtain incomes from different segments by attacking every segment of a market.
The risk of this marketing opportunity is that it may lead to an increase in costs of advertising, production, management of products, and distribution. Differentiated marketing opportunity is low hanging. This market opportunity has positive effects on relations between location, firm and managers. This marketing strategy is low hanging because it will lead to great impact with low costs. (Moorman & Lehman, 2004)
The third marketing opportunity that each of these firms should persue is concentrated marketing. This is a market segmentation whereby a company produces a product to market for a consumer population that is defined very well. This marketing opportunity is focuses highly onto that specific segment of market needs. The reason why these firms should persue this opportunity is because it helps the company in the achievement of a market position that is strong and the company becomes specialist in that particular market segment.
It also helps in effective cost control while avoiding mass distribution, production and distribution. The concentrated market opportunity has risk in that one market focus is risky in that if a competitor produces a better product it will become very difficult to keep the customers and if there is change in taste and size in the segment this will lead to business loss. This market opportunity creates positive relations in the firm. This marketing opportunity is single because a company produces a product to a market segment for a consumer population that is well defined.
These marketing opportunities leads to great financial improvements in that they will help these companies to obtain incomes from different segments by attacking every segment of a market. (Rampure & Goyal)
References
Mallory, N. K. (2010): Review of marketing- Emerald group publishing
Moorman, C. & Lehman, D.R. (2004) Assessing marketing strategy performance- Marketing science institute.
Rampure & Goyal. Segmentation strategies. Retrieved from http://www.scribd.com/doc/3167600/sementation-strategies
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