2/23/2019Putting It Together: Marketing Mix1/7PuƵng It Together: Markeƭng MixSynthesisLearning Resource
2/23/2019Putting It Together: Marketing Mix2/7In this chapter you have seen how businesses use the markeƭng mix to gain market share, enhance thevalue of their brands, and azract and retain customers to increase revenue and profit. Let’s take a final lookat this from the perspecƭve of a brand recognized among the world’s most valuable: Coca‑Cola.
2/23/2019Putting It Together: Marketing Mix3/7Coca‑Cola is sold in more than 200 countries. About 1.7 billion servings of Coke products are consumedevery day. The Coca‑Colaproductsthat quench the thirst of so many people go far beyond the iconic redcan of soda. In fact, Coke makes so many different beverages that if you drank one per day, it would takeyou more than nine years to try them all. Coca‑Cola has a product porwolio of more than 3,500 beverages(and 500 brands)—everything from sodas to energy drinks to soy‑based drinks (Coca‑Cola).Coca‑Cola uses a “meet‑the‑compeƭƭon” pricing strategy: Prices are set around the same level ascompeƭtors’, so products will be perceived as different but sƭll affordable. Coca‑Cola uses lower price pointsto penetrate new markets that are especially sensiƭve to price. The company meets or beats thecompeƭƭon on price to raise brand awareness. Once established in the market, Coca‑Cola reposiƭons itselfas the premium brand compared with its compeƭtors. One way is by promoƭng a brand image of bringing