Diet Coke SWOT Analysis And Strategic Marketing
The strengths, weaknesses, opportunities and threats of Diet Coke include; lack of sugar and thus suitable for diabetic people, lack of popularity among customers, the company can still create more brand recognition, and stiff competition from other companies that produce aerated drinks, respectively (Diet Coke, 2014). These four elements will assist the Coca Cola Company to focus on its strengths and opportunities to build on its weaknesses and threats in its strategic marketing plan for Diet Coke.
Suppose Diet Coke operated as an independent business, much success could be obtained from successful fulfillment of its strategic marketing objectives. The first strategic objectives that the company might want to pursue for the product’s offering is to gain 50 percent of the market share for carbonated soft drinks by 2016. The second strategic objective for the company is to increase the volume of purchases by 25 percent over the next two years. These two strategic marketing objectives will assist the company to compete effectively in the beverage industry.
Diet Coke Value Offering
The value offering for Diet Coke consists of three different components namely tangible, intangible, and product components. As far as the tangible component is concerned, Diet Coke is available in different sizes with quantities ranging from 240 milliliters to two litres. The product is offered in cans and in both plastic and glass bottles. Diet Coke is one of the best selling carbonated soft drinks brands in the United States. The intangible component of Diet Coke’s value offering is demonstrated by customer perception of the product as a carbonated soft drink. The value proposition for Diet Coke lies on customers’ perception that the product has high nutritional value supported by its low calorie content. Coca Cola offers Diet Coke at a price that is similar with its other products which gives customers the opportunity to purchase the product based on its nutritional benefits (Svndsen, 2013).
Diet Coke Marketing Orientation
Diet Coke is one of the products produced by the Coca Cola Company. Coca Cola Company is a worldwide company which is well known for its soft drinks such as Fanta, Coke, and Sprite. Diet Coke is a soft drink that is sugar-free and of low calorie. This brand was introduced by the Coca Cola Company for the first time in the United States in1982. The main market segment served by Diet Coke includes people who seek soft drinks with low calorie in a regular basis (Svndsen, 2013). This paper analyzes the market orientation which the Coca Cola Company operates under, the value offering of Diet Coke, SWOT analysis, and strategic marketing objectives.
The type of management orientation which the Coca Cola Company operates under is marketing orientation. According to Avlonitis and Gounaris (1997), a company which operates under marketing orientation believes that it must create, deliver and market items better than its competitors in order to gain profit. Such companies implement marketing orientation concept by researching on the target markets and on the needs of customers as they market their product is an integrated manner. Coca Cola Company is researching and providing its target market with what they want and that which can effectively satisfy their needs. The company uses promotion and offers better than its competitors, which enables it to gain profit. The great emphasis on marketing orientation has assisted the Coca Cola Company to listen to customer’s concerns and to address them appropriately (Avlonitis and Gounaris, 1997).
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