Successes of Major corporations
BUSA 300 – Principles of Marketing
University of Hawaii-West Oahu
This paper describes the importance of the 4 Ps (product, price, promotion, place) in marketing and how they are each used in a large corporation perspective. This paper offers insight into what tactics are utilized to generate revenue and obtain a loyal consumer base.
The Importance of the 4 Ps in Marketing and the Successes of Major corporations
When someone thinks about marketing, the first thing that might come to mind is television ads, billboards, and radio ads. When you consider all the aspects that come into play to produce these ads, it is clear that marketing is …show more content…
With location adjustment also comes the competitors prices. In order to be competitive you have to provide a product, which is similar to your competitor and hopefully superior at a similar price point. In the case of Coca-cola, the primary competitor is Pepsi.
Coca-cola’s promotion strategy adopts various advertising and promotional strategies to create an increased demand in the market by associating with life style and behavior and mainly targeting value based advertising. This practice is reinforced by their efforts in demonstrating corporate social responsibility. The company endorses many sports events as well as social events that are sought out by many. One quick look at coca-cola’s sustainability report demonstrates the effort they put forward to be involved with helping sustain our environment even while producing so many products. They participate in water conservation initiatives, energy efficiency studies, and look to finding less destructive ways of packaging their products. (GRI Report, 2011)
With the help of business opportunities like franchises, joint ventures, and licensing, it has been possible for Coca-cola to spread throughout the world. There may be local favorites when it comes to beverages but weather you open a bottle of Coca-cola classic in the United States or in Budapest, it will always taste the same.