Lesson 4 Activity 1 Marketing Plan
Introduction
The Coca Cola Company is one of the leading soft drink manufacturers in the world. The company is also a leader in marketing by effectively utilizing the 4P’s of marketing (Crawford et al., 2020). This paper discusses the company’s 4Ps of marketing with respect to its target market. The 4Ps of marketing discussed here include product and value creation, price and value creation, place and value delivery, and promotion and value communication.
Product and Value Creation
The Coca Cola Company has a wide product portfolio of non-alcoholic beverage products. The products are provided in a wide variety of sizes and packages to suit customer needs. The company creates value for its customers by offering high-quality products in highly attractive packages and shapes (Crawford et al., 2020).
Price and Value Creation
The company uses competitive pricing in that it charges prices relative to its closest rivals such as PepsiCo. It uses lower price points to penetrate new markets that are particularly price-sensitive. The company creates value for the customer by making its products premium but affordable for the target customers.
Place and Value Delivery
The company has an extensive distribution network spanning worldwide. Its products are sold in more than 200 countries and territories around the world. It relies on its bottling partners for packaging and distributing its products in their respective local markets. The company works closely with local grocery stress, restaurants, supermarkets, street vendors among others to make its products easily available to its customers (The Coca Cola Company, n.d).
Promotion and Value Communication
The company is one of the most successful when it comes to product promotion. It has won accolades for its innovative and effective promotional strategies. The brand invests heavily in advertising through mass media, billboards, social media, and content marketing (Ling, 2017). Some of the company’s successful advertisements include #ShareACoke and Taste the Feeling campaigns.
Conclusion
Due to the intense competition in the non-alcoholic beverages’ sector, Coca Cola uses an effective marketing mix that gives it a competitive advantage to beat its rivals.
Lesson 4 Activity 1 Marketing Plan
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