Marketing Management Global Marketing and Advertising

Question: Discuss about theMarketing Managementfor Global Marketing and Advertising. Answer: Corporate Objectives The corporate objectives are one of the most important foundations which are the first step towards the creation of organizational strategy (Tricker, 2015). There should be two components in a corporate objective such as the identification of the customers and the core competency of the company. There should also be inclusion of the unique symbols and philosophies associated with the company. The corporate objective is concerned with the formulation of realistic goal as well as well-defined strategy which has major influence on the strategic decisions of the company (Tricker, 2015). There is also a time frame involved in the corporate objectives. The corporate objective would lead to greater performance and business results. The company selected for the purpose of the study is Coca Cola. The corporate objectives for the company are to be globally known as a business unit which conducts its business in a responsible and ethical manner (Coca-cola.com, 2016). This process of business execution would lead the company to witness sustainable growth. The company strives to refresh the world so that there are moments of happiness and optimism (Coca-cola.com, 2016). This is also reflected in their unique advertisements which are attractive to the target audience. Marketing Orientation There are different marketing concepts which are applicable for the organizations. The marketing concept, production concept and the selling concept are some of the important tasks in the marketing domain. The marketing concept identifies the wants or needs of the identified target market and the delivery of better value than the customers (Hollensen, 2015). This concept focuses on the pull strategy which ensures that the companies need to make a strong brand so that the customers are attracted to them. The production concept focuses on preference of the customers on the products that are inexpensive and widely available in the market (Slater, 2015). This concept is more inclined to the operations segment. The selling concept believes in the fact that the consumers would make purchases only if the concerned organization engages in aggressive promotion or the sales of the products (Tadajewski Jones, 2012). The marketing concept is being used by Coca Cola for greater promotion of their products. The target market of Coca Cola is based on the young generation as they are synonymous with the energy and youth nature of the brand (De Mooij, 2013). The brand also considers the older population as the co-target market. The company has formulated market positioning strategies and make sure that their products are widely available to the public (De Mooij, 2013). The distribution network has been strengthened by the company. They have made available sufficient freezers as well as coolers in the market, which implies that they provide sufficient infrastructure so that their products reach the customers easily. Coca Cola has also formulated local marketing strategies that cater to a wide range of target audience (De Mooij, 2013). They have focused on their product attributes such as taste, packaging, bottle sizes and others so that they gain competitive advantage. Coca Cola also engages in extensi ve promotional strategies which helps the company to increase the brand visibility. Core Marketing Strategy Coca Cola believes in the responsible marketing policy in which there are four principles such as choice, balance, honesty and exclusion of children (under 12 years of age) from their marketing campaigns (Coca-cola.com, 2016). The company uses independent auditors to check the compliance of the company principles with their corporate objectives. Coca Cola uses content marketing as their core marketing strategy (Coca-cola.com, 2016). The company uses content as the foundation of their marketing strategies. The innovative advertisements help the company to engage with the customers and connect with them on regular basis (Coca-cola.com, 2016). This is a new concept of the company and has been laid down in the new marketing campaign Content 2020 (Coca-cola.com, 2016). Both these strategies are included in the core marketing strategy of the company. There are both strengths and weakness of the current marketing strategy of the company. The responsible marketing strategy is beneficial for the company as it would help in strengthening the brand image of the company. This strategy excludes the children below 12 years of age which would create a good impression on the parents, who want to make the correct dietary changes in their children (Coca-cola.com, 2016). The weakness of this strategy is that there is limited scope for expansion of the marketing concepts. The content marketing is beneficial since it deals with unique methods of storytelling which conveys the message of the brand to the customers. The responsible marketing would help the company to perform the business in an ethical manner as well as responsible manner. The content marketing is intended for having sustainable growth for the company. References Coca-Cola Global: Soft Drinks Beverage Products. (2016).Coca-cola.com. Retrieved 25 November 2016, from https://www.coca-cola.com De Mooij, M. (2013).Global marketing and advertising: Understanding cultural paradoxes. Sage Publications. Hollensen, S. (2015).Marketing management: A relationship approach. Pearson Education. Slater, S. P. (2015). The Tasks of Strategic Market Management: The Role of Marketing. InProceedings of the 1989 Academy of Marketing Science (AMS) Annual Conference(pp. 667-667). Springer International Publishing. Tadajewski, M., Jones, D. B. (2012). Scientific marketing management and the emergence of the ethical marketing concept.Journal of Marketing Management,28(1-2), 37-61. Tricker, B. (2015).Corporate governance: Principles, policies, and practices. Oxford University Press, USA.