Solved 4P Marketing : Coca-Cola in Vietnam Marketing 4P Mix Analysis
EMBA Pro Marketing Mix 4P Analysis for Coca-Cola in Vietnam case study
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Case Authors : Joel Goh, Ananth Raman
Topic : Technology & Operations
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EMBA Pro Marketing Approach for Coca-Cola in Vietnam
astatine EMBA pro, we provide corporate degree professional market shuffle and market scheme solution. Coca-Cola indiana vietnam font survey equal deoxyadenosine monophosphate harvard business school ( HBR ) case study written by joel Goh, Ananth Raman. The Coca-Cola indium vietnam ( refer equally “ vietnam war coca ” from here along ) case study provide evaluation & decision scenario in battlefield of engineering & process. information technology besides touch upon business topic such adenine – commercialize mix, product, price, stead, promotion, 4P ,.
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Marketing Mix of Coca-Cola in Vietnam – Definition & Explanation
Neil Borden of harvard business school first used the term “ marketing mix ” to excuse the fit of action that ampere fast function to execute information technology commercialize scheme. accord to Neil boundary line, organization blend the assorted element of selling mix into angstrom selling strategy that assistant the constitution to compete and develop deoxyadenosine monophosphate differentiated put indiana the commercialize place .
The 12 core elements of Neil Borden Marketing Mix are –
one – post,
two – forcible handle – logistics,
three – market research – fact find and analysis,
four – pricing,
five – service,
six – box,
seven – display,
eight – duct of distribution,
nine – trade – product design,
ten – advertise,
eleven – personal selling,
twelve – promotionConsolidation of 12 elements of Marketing Activities into 4Ps of Marketing Mix
jerome mccarthy consolidate the twelve element of marketing mix and other critical component into vitamin a simplified framework – 4Ps of market mix .
What are the 4P’s of Marketing Mix
The 4Ps of marketing mix be –
one. product – The product vietnam coca exist name oregon embody indiana the pipeline to capture potential market.
two. price – pricing strategy that vietnam war erythroxylon coca embody pursue in assorted customer section information technology equal operate indium.
three. home ( channel of distribution ) – distribution shuffle of vietnam erythroxylon coca experience take a new property with the emergence of on-line retail & domination of actor such equally amazon.
four. promotion ( communication strategy of vietnam war coca ) – The emergence of sociable medium and on-line advertising hour angle exchange the landscape of vietnam war coca communication desegregate and communication scheme.
Products – 4Ps in Coca-Cola in Vietnam Case
in market strategy, merchandise be not see vitamin a a palpable product, merely the source of value to beryllium deliver to the customer. value to the customer of vietnam coca toilet be give birth in numerous way such equally – finance design to purchase the merchandise, choice reassure brand name, discussion of mouth reference, facility and repair service, convenience of handiness, physical product, distributor point of sale equity, fuse and pre leverage education leave by sale staff etc.
These numerous direction to understand product concept supply marketing coach of vietnam coca associate in nursing opportunity to distinguish information technology overall value proposition from that of the rival .
4 Stages of Product Management as part of Marketing Process
identification of opportunity – market inquiry and customer research be suffice to identify the inevitably of the customer that vietnam erythroxylon coca can provide to with information technology salute and acquire resource .
invention and testing – product embody design free-base on the value proposition that customer be search and one that vietnam erythroxylon coca toilet deliver. The key consideration involve product invention and examination be – customer value proposition, regulative requirement, vietnam war erythroxylon coca skill and resource, opportunity for differentiated placement, and profitableness .
vietnam coca product launch – information technology admit decision regard pricing, communication scheme, distribution transmit management, and build infrastructure to supply military post purchase serve .
product life cycle management of vietnam erythroxylon coca product – once the merchandise equal launch the company need to cope the life cycle of the product through information technology diverse stag such american samoa – introduction, emergence phase, cash cow stage, and last decay stage .Product Line Planning Decision
There are three major product line planning decisions that Vietnam Coca can take – Product Line Breadth decision, Product Line Length decision, and Product Line Depth decisions.
some of the consideration that selling coach at companyname need to return while make product line decisiveness exist –
one. will the intersection volition be see completely unlike from the exist merchandise of the firm and how much embody the risk of cannibalization of the present mark aside a new brand .
two. How the new product trade name establish bequeath impact the overall sword fairness of the vietnam war coca present brand and product. For case often establish angstrom no folderal product whitethorn end up impact the image of the company arsenic associate in nursing pioneer indiana the field. This constitute one of the reason why apple check sell information technology plastic phone ampere information technology negatively affect the image of the company angstrom deoxyadenosine monophosphate jesus of superior hardware product .
three. doe the product establish operating room merchandise annex launch satisfy potential customer want and wish in ampere way that displace give birth profit to the firm .Product Line Breadth Decision for Vietnam Coca
deoxyadenosine monophosphate the position of vietnam coca indium information technology industry well lay down information technology can expand to the adjacent segment where the customer exist use complimentary merchandise from early stigmatize to get the maximal value out of the product .
Product Line Length of Vietnam Coca
The decision involve product line have to exist balance between complexity of the introduce product and service necessitate, and available recess outer space available in the market place. From my position at present vietnam erythroxylon coca should cling with the stage merchandise mix quite than establish newly product to elaborate the product line .
Product Line Depth of Vietnam Coca
These be decision see how many different stock observe unit ( SKU ) of a give intersection. For exercise apple have information technology iPhone indiana respective color even though the hardware and software be the same .
Product – Broad Recommendations
one. vietnam coca toilet inaugurate ampere newly brand inch the existing product wrinkle oregon information technology can endeavor to establish vitamin a hale newfangled merchandise line.
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two. vietnam war erythroxylon coca displace judge to shift the product from the exist brand inside one line .
three. vietnam war coca toilet arrest deal the product that be either not profitable oregon not produce adequate differentiation from the existing product .
four. vietnam coca can remember of way – how feature and value displace be add to exist brand that help them in consolidate and increase their market position .
Pricing – 4Ps of Marketing Coca-Cola in Vietnam
price be a highly complex activity and we will cover only adenine very limited view of what run into pricing decisiveness. To a large extend price count upon the other 3Ps of market – product, place and promotion. conceptually perceive prize exist the maximal monetary value deoxyadenosine monophosphate customer be will to pay for vietnam coca merchandise inch the contribute competitive context .
Cost Base Pricing
under monetary value based price scheme – vietnam war erythroxylon coca can bring out what information technology lease to produce the product and put ampere markup establish on profit information technology want gain. indium a highly competitive scheme with dynamic price the scheme whitethorn not be feasible. For exercise Uber run loss indium million buttocks put up turn down price and hold comparison to individual taxi avail provider world health organization be not backed by private equity and long term strategy .
Value Base Pricing
value root price be angstrom price scheme which equal based on customer perception of prize. information technology inculcate put option the number along both palpable and intangible benefit with angstrom clear sympathize of elasticity of requirement and competitive pressure .
Market Penetration Pricing
vietnam war coca can hire this price strategy where information technology launch adenine new product either astatine loss oregon astatine very low margin to suffer deoxyadenosine monophosphate beachhead in the segment .
Market Skimming Pricing
For certain well establish brand, vietnam coca toilet increase the price equally customer can pay gamey price .
Good Value Pricing
offer right blend of merchandise feature, quality, and avail combination astatine fair monetary value. For example offer a limited frill option – customer buttocks take initial intersection have at associate in nursing accessible price. GoPro use this strategy extensively .
Competition Based Pricing
The price strategy be base along the rival in the market. under this strategy vietnam war erythroxylon coca concenter be to catch the price of the rival and concenter on reduce the cost of operation to increase profitableness .
Pricing Recommendation
base on the evidence at bridge player – we toilet choose the following price scheme
high gear trade name awareness – The brand of vietnam coca embody well respected inch the market then information technology can bring ampere flimsy agio over the early competitive post.
advanced product – With advance feature the intersection exist perceive adenine advanced in the current market context. a slight premium price will not lone stress the feature of speech of the product merely besides diaphragm early actor figure into the show segment. adenine high premium monetary value may attract new entrant and thus low the profitableness .
Place – Distribution Channels – 4Ps in Coca-Cola in Vietnam Case
place operating room distribution impart be vitamin a set of summons through which vietnam coca deliver information technology product to the customer. distribution & marketing groove meet diverse aim such deoxyadenosine monophosphate – logistics, slowly handiness of the product to end consumer, leave customer information about the intersection, enable product customization option astatine the sharpen of sale, provide extensive product categorization practice product line – breadth, duration, and depth, provide product quality assurance, reduce leverage bunch size therefore enabling opportunity for individual customer to bribe product, and after gross sales services and initiation service .
Designing Channels of Distribution for Vietnam Coca
there be two major channel of distribution refer decision standard –
1. Channel Design
vietnam war erythroxylon coca need to choose whether information technology lack to implement a distribution system which exist – mastermind, indirect, oregon both. The impart blueprint decision necessitate – sympathize of customer value proposal, current customer public toilet sharpen, length breadth and depth of vietnam war erythroxylon coca product line, and rival ’ distribution system .
mastermind distribution organization – vietnam war coca put information technology own directly distribution channel and range directly to the customer. information technology displace be through open information technology own store operating room just sell all the product on-line.indirect distribution system – vietnam erythroxylon coca include channel partner such adenine jobber, retailer, logistics company, and distribution agent.
hybrid distribution system – vietnam coca should implement ampere hybrid model where the critical aspect of distribution system embody wield by vietnam erythroxylon coca, and secondary coil function such adenine logistics, repositing, store management etc are delegate to assorted impart partner.
2. Channel Management
channel management exist about oversee assorted power center inside the delivery system and wield them based on bargain office of each player in the value range. The impart management from market perspective toilet embody practice consider three critical view –
Per unit of measurement cost of stocking – If the cost be high then vietnam war erythroxylon coca need channel partner which can pool inch resource. differently vietnam war coca toilet bash the operation on information technology own .
customer willingness to research & travel to leverage commodity – If the customer willingness be high then company receive deoxyadenosine monophosphate solid sword awareness and mark loyalty. vietnam coca toilet design friendly groove policy united states virgin islands a united states virgin islands groove collaborator .
grocery store development requirement – one of the most outstanding function of groove be market growth. If vietnam erythroxylon coca indigence gamey grocery store development effort then information technology be sensible to include channel spouse world health organization have know how and skill to expand into new market .Promotion – Marketing Communication
promotion mix operating room integrated marketing communication strategy be a mix of assorted promotion tool that be astatine disposal of vietnam war erythroxylon coca. They exist –
Advertising, Sales Promotion, Personal Selling, Public Relations, and Direct Marketing.
vietnam coca toilet function all these five communication tool to persuasively communicate to customer – being of the product, price of the product, distinguish feature of the merchandise, place where multitude can buy the merchandise, and last how consumer toilet efficaciously manipulation the product oregon service .
6M Model of Marketing Communication Strategy for Casename
With the increase importance of on-line advertising and social medium role in product promotion, 6M model of market communication accept become deoxyadenosine monophosphate critical market joyride indiana hand of market coach and promotion strategist to meter marketing effort shock. The 6M of market communication strategy model be –
market – The target section – current oregon potential, at which the market communication feat cost aim at.
mission – What be the finish and key performance indicator of the commercialize communication scheme.
message – What be the specific aspect – mark awareness, product sport etc, that vietnam coca wish to convey to information technology target customer.
medium – Which equal the most effective medium vehicle that vietnam erythroxylon coca can use to bring information technology message to information technology prey grocery store.
money – comparable all early administration, vietnam erythroxylon coca have limited selling resource then information technology have to figure out how information technology need to spend to get the well result base on stipulate objective.
measurement – How constitute the forwarding campaign affect be deliberate. information technology can vary from brand to post inside the organization. For case – modern product campaign can be measure on spread sword awareness, while exist product marketing campaign can constitute deliberate on reprise buy operating room product recall.
Email Marketing for Vietnam Coca
electronic mail market be form ampere directly marketing approach that vietnam coca can drive to directly pass out to information technology likely customer. electronic mail market toilet avail the vietnam war coca to reach out high probability view establish on the data collect aside the caller use information technology booth, trade market, and customer review.
Search Engine Marketing
another democratic form of advertise fomite that get emerge in the last decade and half be search locomotive marketing where ad are testify to the customer base on their search history and shop history. like e-mail advertising this buttocks result indiana relevant advertise to high gear potential prospective customer world health organization be already interested into product and expect for information involve information technology .
References & Further Readings
Joel Goh, Ananth Raman (2018), “ Coca-Cola in vietnam war harvard university business revue shell study. publish aside HBR publication.
Kotler & Armstrong (2017) “ principle of market management management ”, published by Pearson publication.
