B2B, Business-to-Business, refers to where a company sells products to another company.B2B involves getting large orders form minimal customers, interactingpersonally, rather than through advertising and promotions. Coca-Cola company may be sold industrial goods form certain companies. These include chemicals, materials, machinery and office furniture. Suppliers are experts when dealing with their products and help their customers to solve problems thus meeting their goals. Coca-Cola may also be offered professional services form other companies. A consultant may be hired to consult on the business needs of human resources, informationtechnology, marketing and management consulting. They may hire a solo consultant or hire a firm that offers all the services collectively. Coca-Cola Company may be offered financial services from another company. This includes insurance, tax planning, asset management and credit lending. The company offering these services has to follow rules and regulations set by the government.
Coca-ColaCompany may segment its customers using the behavioral segment. Segments are created according to the purchasing behaviors of consumers. Some consumers will purchase the product once in several days while another consumer might purchase the product every day. Certain consumers may also purchase the product to use in different ways. Some might use the product as a soft drink while others might use the product with alcohol to enjoy themselves while other might use the product to stimulate their energy levels. Some consumers are also loyal to the product while others purchase different products. Some customers would also look for the product with the cheapest prices.
A marketing information system refers to the methods used to collect,analyze, classify and store expected market information on a regular,ongoing basis. Marketing activities are affected by internal and external factors. Thus, the information on the market is collected in order to best predict how the market will be affected. Coca-ColaCompany needs to collect company information that is internal. For example,stocks, customer profiles and customer orders. The personnel in the company would not see the importance of this information when making decisions. When orders are compared with invoices, a company is able to determine the level of customer satisfaction that it is providing. When marketing intelligence is collected, the day-to-day information that helps the company to make its marketing decision is made known. This includes information from customers,suppliers and distributors. Lastly,when market research is carried out, the company seeks first-hand information in a purposeful ways in order to solve certain problems that the company might be facing. This is because the information that reaches the company might not be up-to-date or relevant.
In order to measure the success of Coca-Cola’s marketing strategy, the customer equity has to be calculated. This is done in order to understand the customerbetter. One performance metric that would be used to measure the success of Coca-Cola’s marketing strategy would be brand preference. This will help the company to understand its positionwhen it is up against competition. Another metric would be the take rate, where the number of individuals who respond to sign up for trials or to download case analysis is taken into context. This helps to determine how many consumers have embraced the product. Lastly,another metric would be customer experience, where all the major touch points of when the company has interacted with consumers is put into account. The experiences are then categorized into superior and subpar.
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