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Summary Wk 2 Apply Signature Assignment Part A Strategic Marketing Plan.docx 1 Wk 2 - Apply: Signature Assignment: Part A: Strategic Marketing Plan MKT/574 Strategic Marketing Part A: Coca Cola A marketing plan outlines a business's specific marketing
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Wk 2 Apply Signature Assignment Part A Strategic Marketing P 1 Wk 2 - Apply: Signature Assignment: Part A: Strategic Marketing Plan MKT/574 Strategic Marketing Part A: Coca Cola A marketing plan outlines a business's specific marketing strategy and includes concrete actions to be taken and...
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Wk 2 - Apply: Signature Assignment: Part A: Strategic Marketing Plan
MKT/574
Strategic Marketing Part A: Coca Cola
A marketing plan outlines a business's specific marketing strategy and includes concrete
actions to be taken and anticipated results. Marketing plans serve as roadmaps for companies to
execute and measure the marketing effort's results over a specific period. The following strategic
marketing plan is for The Coca Cola Company which “is a total beverage company, offering over
500 brands in more than 200 countries and territories.”[ CITATION The21 \l 1033 ] Coca-Cola
is a soft drink that is bought and consumed in households, hotels, offices and shops. The product
is also a wide brand and the product is sold alongside other soft drinks and snacks. The
marketing plan analyzes the mission and vision statements, environmental analysis, current target
markets, current marketing, SWOT analysis, and marketing objectives.
Company Description
“The Coca-Cola Co. is the nonalcoholic beverage company, which engages in the
manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks,
water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee
and energy drinks.”[ CITATION CNN20 \l 1033 ] The company offers a wide variety of soft
drinks as well as juices, sports drinks, their own brand of water, and many more products. The
, company was founded by Asa Griggs Candler in 1886 and the company is based out of Atlanta,
GA.
For any business to be successful it must always think about innovating to stay up with
the times, they need to be able to have an edge on the competition. Companies must look ahead
to see what they can do to appeal to the masses and keep customers happy. A mission statement
is a brief description of an entity's fundamental purpose. It answers the question, "Why does our
business exist?" Coca Cola’s mission statement reads “Our Roadmap starts with our mission,
which is enduring. It declares our purpose as a company and serves as the standard against which
we weigh our actions and decisions. To refresh the world in mind, body and spirit, to inspire
moments of optimism and happiness through our brands and actions and to create value and
make difference.”[ CITATION The21 \l 1033 ] It's also important to avoid confusing a mission
statement with a vision statement. The difference is that a mission statement focuses on a
company’s present state while a vision statement focuses on a company’s future. “Our vision
serves as the framework for our Roadmap and guides every aspect of our business by describing
what we need to accomplish in order to continue achieving sustainable, quality
growth.”[ CITATION The21 \l 1033 ]
Environmental Analysis
The PESTLE framework is a strategic tool used to measure political, economic,
sociological, technological, legal, and environmental market potential and situation of the
company. To sustain its level of success and maintain leadership in its market, Coca Cola must
audit and review its strategic position considering changing factors in its business environment.
Environmental factors at Coca Cola are a significant influence that affects the success of
operations in its current business environment. Coca Cola products are distributed to hundreds of
countries. These countries have different customs, cultures, tastes, and desires. Coca Cola has
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