The Concept and Process of Marketing (Coca-Cola case) Essay

The Concept and Process of marketing (Coca-Cola case) - Essay ExampleMarketing can also be defined as a process through organization creates stiff channels of exchanging of goods and services with their customers, through coordination of the four Ps of marketing, which ar fruit, price, place and promotion. Marketing wherefore involves identifying a product that can satisfy a given consumer need, determination of its price, determination of an effective dissemination channel for the product to reach the customer, and finally designing ways to inform the potential consumers about the product (Wysong and Flores, 2008, p.54). 1.2 Consumers Needs and Wants Consumers are motivated to subvert goods and services by their specific fatalitys and needs, a consumers needs are those items that every person requires for survivor such as clothes, food and shelters. The consumers wants refers to those items that a person would learn buying after fulfilling his or her needs, which may includ e a car, going for holiday among others. However, a want can easily translate into a need when a person desperately wants an item. However, Hartline and Ferrell (2010, p.184) warns that referring to needs as necessities is simplistic since the definition of a need is subjective. Therefore, in this respect, a need occurs when a consumers aim of satisfaction is below the desired level while a want is a desire of a given product to cater for a need (Hartline and Ferrell, 2010, p.184). As stated earlier, a consumer will buy goods and services primarily to satisfy his or her wants and needs. Therefore, it is prudent for a business to understand the needs, which can be satisfied by its products. As Hartline and Ferrell...For instance, Coca-Cola has in the past used their bottles to conduct a lottery, whereby a near customer who manages to collect specific winning bottle tops gets the reward.2.37 Consumer profitability.Companies undergo various damage in the process of advertising, cons umer transaction, and in the process of trying to increase their sales. Consumer profitability is the difference between the revenue that a company gets customers, and the cost they incur to get those customers (Raaij and Eric 2002, p 1). Coca- Cola companion should do the cost pull in analysis, in order to ensure that revenue incurred in the customer relation process is more than the costs incurred, and that such difference is significant.2.38 Narrow marketing focusNarrow marketing involves a product with move prices in the market, which is usually as a result of change in demand or supply. A narrow marketing strategy involves a company not putting efforts to win new customers. The cost of narrow marketing focus is low sales, fluctuation in product demand. CocaCola Company can avoid this pitfall through adopting strategies to get new customers and using good customer relations to retain existing customers.