The non alcoholic beverage industry is one of the most active, competitive and volatile industry which is vunerable to small variations in the perceptions and behavioural changes of the customers. Coca cola for over century has been but still is a great player in this industry. Coca cola is well known as a soft drink company with global reputation and is also the most respected brand on the globe.
In these competitive times, even though how big an company is or how great the reputation of the company is, it will not lose its route and can't find the money for to relax. Organisations should prosper to improve their reference management systems that ought to include enhancing its performance of recruiting o its employees' and employ them in active participation of the business affairs and also develop, plan, implement and monitor its marketing strategies on a continuous basis in order to take the competitive border.
This assignment handles two major areas of Coca cola's management viewpoint, you are its recruiting and the other is its tactical marketing. Each activity in this project has been objectively responded to provide a clear description and analysis of a case, to be able to provide a meaningful realization to the project as a whole.
Employee relationships are one of the most crucial functions of the RECRUITING Management, and at Coca cola there are numerous approaches that can boost the relations between the company and its employees. As a major function of HR section, employee relations should instigate better partnership, greater participation and active involvement between employees and the company. Coca cola should see that is a two way process. As part of its employee relations, the company should make an effort to build a work atmosphere which is more cordial, a discord free environment and where the major awareness is to prevent any unfavourable work situations among its employees. The HR division at Coca Cola should also provide a system where the employees are motivated, encouraged to participate in the company affairs and are encouraged to give commitment in the company's development and development.
In this way the organisation can benefit insurance agencies a committed, organised and work focused employees. Coca Cola can also see high degrees of productivity as well as increased employer- employee relations. The employees also feel that they are very secure and can add more dynamically to the organisation's progress. Conclusively both organisations as well as employees have the same role and participation in the organisation's progress and gain mutually.
Alternative communication approaches with employees at Coca cola is an effective way to cope with various issues relating to employee affairs. Some of the major conditions that are dealt by Coca cola as part of its alternate communication methods are grievance management, turmoil resolving, bargaining, and engagement of employees in the organisation's affairs.
At coca cola, the HR section believes that conflicts are inescapable and places some of the best policies to deal with them which include counseling sessions, discussions and services of specialist psychologists who are expert in working with various work situations. Some of the other situations include resolving discord of hobbies. As perceptions of employees all the time may well not be similar, reliable alternative communication strategy is very important, so as to maintain greater staff relations.
An organisation's integrity and honest values are just valued when it has a good grievance management system in place. At coca cola, there is a organized grievance management process, where in which fairness and transparency are the essential and paramount factors. The grievance management process also keeps confidentiality and seeks to supply the best possible solutions to employees' grievances.
Performance management is a management approach and staff performance management is a function of Recruiting management that helps in achieving the goals and aims that are placed to control the performance of the employees. The purpose of performance management is to observe that the employees' skills, knowledge and performance of these duties, that are measured against the final outputs, are constantly managed so as to optimally and steadily improve the performance levels of the employees. The major great things about performance management are it can help the company to preserve and increase the performance of the employees, helps in identifying potential performance techniques and also helps in attaining organisational excellence in terms of employees' quality.
The reason for reward management is to see that the payroll function of HR is fulfilled and the financial and non financial advantages to employees are dealt with. The benefits associated with reward management are it makes the complete repayment systems organised which includes earnings, performance related add-ons, perks etc. In addition, it motivates employees to execute well and contribute to the success of the company.
Performance appraisal techniques are also widely used across the complete coca cola organisations, they assist in measuring and adding to the successful accomplishments of the company, performance techniques such as 360 level feedback, which gives anonymous feedback of their supervisors and graphic rating scale which helps to checklist the individual's performance are the hottest performance appraisal techniques.
Finally the performance and incentive management at coca cola is a completely successful and contributing factor for success of the company.
Following is a hypothetical design and execution of performance management and pay back process at coca cola, for organisational performance.
To first identify various performance and reward examination factors that assist in linking performance related pay
To determine the Coca Cola's organisational and environmental factors that assist in aligning the HR goals
Identifying the many performance strategies that assist in making rational decisions in performance and incentive management implementations
Establishing the many performance assessment procedures and praise management systems and introducing them and making them adaptable to the employees and HR pros equally.
Selecting a period frame for implementation and choosing periods or specific times on which the performance appraisal techniques can be employed to measure the employees' performance
Selecting a basis on which classification of employees can be made, and categorizing them into excellent achievers, good achievers, average achievers and poor achievers
Then performing a post follow up after performing performance appraisals and the necessary action that should be taken for each of the category
As in every major organisations, Coca cola also follows a very good financial and non financial rewards and benefits system. A highly effective reward and benefit system assists with appealing to the brightest expertise as well as assists with retaining the prevailing employees'. Coca cola follows a rational approach of classifying its financial rewards and benefits and non financial rewards and benefits.
The financial benefits and rewards part consist of fixed base salary, half annual bonus based on performance, joining benefit for a fresh employer, annual increments in the incomes, double purchase overtime work done and a choice to buy or sell yearly holidays. This is a very effective, easy to understand and uncomplicated payroll system that helps the worker to focus on his/her work and performance alternatively than considering complex computations and the quantum of rewards and benefits.
The non financial benefits and rewards part at Coca cola is evenly attractive, in the sense that the business offers flexible deals to employees like private health insurance, fuel allowance, personalized training programs, opportunities to study towards professional qualification and finally ample maternity and paternity leaves. All these financial and non financial benefits and rewards are extremely very important to Coca cola to keep up health employee company relations as well as to retain and entice the best talent available in the market.
Strategy development at Coca cola is a continuous, market based and customer powered process that permits itself to put itself as a market leader in the non alcoholic beverage producer in the world. Strategy development is an activity, which may take its bottom part from several other planning and examination methods. One such important factor is the marketing planning, at coca cola, the marketing planning helps it to recognize various resources and other options which help in taking a competitive benefit.
Marketing planning also helps in getting the dedication in the strategy development process, it also contributes in allocating resources that help the business to grow, the marketing planning process also really helps to identify and prioritize all the stakeholders and consequently inform them of the business. The bottom line is the marketing planning forms the backbone for the introduction of overall business strategy, this is performed by placing goals and objectives and also includes monitoring and measuring the performance whatsoever stages.
As everybody knows that the purpose of strategy development is to set a way for the business and create opportunities to sell their products to customers so as to meet the business objectives which exactly what the marketing planning does indeed at coca cola, to study, analyse and use marketing plans for the accomplishment of strategic goals.
Operationalising marketing strategy - Concepts and Techniques
The importance of marketing businesses doesn't lay in applying mere marketing concepts in practice, but understanding the marketplace realities, changing, adapting and executing them. A well thought strategic strategy is necessary to be able to get the required results. The aim of Operationalising marketing strategy is to load the knowledge difference that exists theoretically and this of realities. At coca cola one of the very most fundamental the different parts of Operationalising online marketing strategy is to include implementation strategies for the advertising programs, understanding the nature of customer goals and perceptions on the coca cola products and setting up a scheduling arrange for the execution.
Marketing mixture or 4P's is an important marketing theory which includes four elements of product, price, place and promotion. The marketing mixture is normally taken for a specific product and not for an organisation as a whole. So considering that we take diet coke as the product and the area as most of UK, the marketing mix of diet coke can be explained as follows
Product: Diet coke, which is a very popular product from the company, and has very less calories from fat and is a sugar free soda. It will come in serving of 3 liters, 2 liters, 1. 5 liters, 500ml, and 330 ml.
Price: All of the products are competitively listed in the UK, and the prices of a few of the products are a lttle bit expensive than its rival Pepsi.
Place: The merchandise are sold almost in every supermarkets, grocery retailers, off certificate stores and other food courts. Hence the option of the product is high.
Promotion: the business has other ways to promote the product including flyers, waiting for you marketing, advertising in mass media (Tv set, newspapers, magazines etc). Hence the campaign of product is very high and the product is highly obvious to the public.
Strategic marketing is an extremely relevant activity or an activity that allows an company to employ the limited resources it has to generate high sales of its products and also achieve a competitive advantage. The idea of strategic marketing is usually devoted to customer. The tactical marketing consequently is not limited to the marketing functions of the organisation only, but also in various other activities of the organisation.
For example in Coca cola, tactical management allows the source chain department to focus on the various stages where the proper marketing can have an impact on it. Obtaining the containers from bottling items, distribution to wholesale and retail market segments etc all utilize the tactical marketing process.
In the truth of service delivery management, coca cola at all the key levels than it, such as conversing to the customers, building romance with customers, identifying problems and providing solutions to customers, providing 24/7 support to customers and putting into action the service delivery management program all depend on how the proper marketing process has been planned and applied by Coca cola.
Coca cola has lately has been criticized by its shareholders for not coming with an efficient marketing program or plan to counter the increasing progress of Pepsi. However Coca cola has began developing a organized marketing program predicated on its business plan and to achieve the business enterprise aims and goals more successfully and effectively, in order to continue to increase its market show.
The marketing plan of coca cola consists of a thorough examination of the market conditions, audit of the surroundings and situations that does a situational examination, competitor examination, and a scrutiny of its position in the market. Once this has been done, the next step is selecting the best and most suited marketing strategies and implementing them regularly and also researching the progress made and making any necessary changes to its marketing strategy and also monitoring any external threats and interior efficiency methods.
The development of Information technology since the early on nineties till present and the introduction of e business, ecommerce and internet marketing have all got a profound influence on just how Coca cola holds out its marketing activities. In the technology motivated market, the organisations which doesn't have technical edge will eventually lose out to their rivals, however coca cola have used technology to their advantage by going after an effective marketing strategy which made use of technology to the fullest possible amount.
Coca cola has had the opportunity to increase its brand image quicker from the early nineties till the present day, then what it has been having since its development, this is related to the effective usage of internet marketing, increased coverage in the mass media, and also by use of applications such as marketing management systems such as marketing management and sales and syndication application software, it has been able to design numerous marketing models test them before making use of them on the market, reduce its marketing costs and increase its sales internationally.
The coca cola has a very much evolved portfolio models and collection strategies which it applies in the developed countries, producing countries and the rising countries. Inside the emerging world it has centered on increasing and maximizing the quantity of bottles produced and generating maximum sales. It includes increased the quantity of investment in creating infrastructure, to set up more bottling units and also increased advertising of the initial and well known products such as Coke and Diet coke.
In the growing world its focus is to increase the worthiness, as it has already got a strong foot hang on the quantity of sales, building a strong customer base and also building customer loyalty. Regarding developed countries it is more into maximizing profits by reselling multiple products which are more entirely bought from the developed countries and finally provide money for a continuing growth. Individually each product such as coke, sprite, diet coke, fanta etc have all been sold to compete with other rival products of similar characteristics and collectively sold under the brand image of coca cola, so as to add more value and element to its image as well as to its products range.
Market segmentation is a concept which includes economics as well as marketing. Market segmentation at coke is done to be able to divide the market into subsets where people are grouped predicated on similar choices. At coca cola the major advertising products are coke, sprite, diet coke, flavored coke which include cherry, vanilla, raspberry, lemon and fanta. There are lots of individuals who have liking to a specific product of coca cola; hence it is very important for market segmentation that ought to be done remember the market conditions.
Coca cola's arch rival Pepsi has also many products that are similar in preference or aspect of coca cola's products, hence it is vital to favorably position itself in the market so as to face any competition. Apart from this, market segmentation is done based on geographical locations also, because unlike in the western where coca cola normally rules the market, in places such as Mexico, France, China, etc they have many local makers of carbonated drinks, hence market segmentation is necessary to create a geographical specific online marketing strategy.
Generally the competition in markets can be of two types oligopoly and monopoly markets. Within an oligopoly market there are few vendors and each retailer has a substantial market show and influence on the market. The products in an oligopoly market may be differentiated and undifferentiated, that is in differentiated products, and every provider offers an id of their own products and cannot be substituted or substituted by others. In case of undifferentiated products, they can be substituted for just about any other product and these products depend mainly on the price and availability.
In most situations products such as Pepsi, coke, fanta, etc can be said as undifferentiated products as customers may tend to replacement for another products regarding unavailability. But when the customer bottom part is very devoted to a product, that is if people drink coke only and nothing else than the merchandise is reported to be differentiated. In a very monopoly market there is merely one owner which can significantly effect the marketplace and control the prices of the products and make any decisions without having to worry about the results. In case there is coca cola, though it can be said as a respected soft drink maker and has the highest market show when considered globally, it still encounters troublesome competition from its arch rival Pepsi and other local soda sellers, hence it could be said that coca cola functions in a oligopoly market environment.
The idea of brand id is a part of the overall brand management of an company. In literal conditions brand personal information is the audio -visual face of the brand. It communicates to the clients the ideals, ideas and the great things about the product. Coca cola has for long taken care of great brand identity and in fact it is voted as the utmost valuable brand on the planet with its brand value being 67 billion dollars worldwide.
The process of producing and using brand personal information is a very important one in the context of the online marketing strategy and is greatly recognised and treasured one. The brand individuality of coca cola can be related to two major factors one is brand specific and the other is intrinsic.
In the first place the coca cola company has started to develop brand specific qualities, which includes having real cola tastes, the flavour that can't be forgotten, offers entertainment to everyone, can be enjoyed with the business of anyone and lastly has been accepted as the best soda.
The next thing was to build up intrinsic characteristics, coca cola has had the opportunity to get this done by making a great and stimulating tastes, can quench the thirst and can go with anything from dishes to snacks. This way and by popular designs, great company logo, interesting packaging designs and providing attractive taglines coca cola has been expanding and using its brand id.
At coca cola, the merchandise life cycle identifies every single product that is produced to provide to customers goes through lots of stages where every phase has certain advantages and disadvantages, and also the products may be substituted by other newly developed products or in some instances the product may be completely removed from creation. Normally at coca cola there are five phases in the merchandise life cycle, they may be development, intro, maturity and decrease.
During the development period or level the new product is in the process of development, this is the first stage and before its execution involves great deal of research on the client behaviours towards this type of products. The next level is the intro stage where the products or launched or sold in the market, the third stage is growth period, where in fact the products grab more sales and this is the phase where in fact the company expands its businesses and earns more earnings, the next level is the maturity level where the product grows to a stagnant position, where in fact the expansion rate remains constant and finally within the last phase the products sales start declining. At this time the Coca cola is in the maturity stage, which is evidenced from the fact that the growth rate is nearly consistent for many years and it includes many dedicated customer bottom part.
CONCLUSIONS AND RECOMMENDATIONS
As can been noticed from various analysis and study about the coca cola's human resources management and marketing activities, it can be said that coca cola has been performing regularly in increasing its brand image, effectively putting into action various marketing strategies and also positively engaging its employees to utilize them for the development and development of the business. However in recent past it is burning off its market share to its rival Pepsi and other local retailers which is also struggling to employ its employees to derive the utmost value it can as with its capacity.
Developing a very effective performance management and pay back management systems predicated on the latest human resources management procedures and perfect use of resources that exist to the company
Developing innovative advertising strategies considering all the market conditions, regulatory environment, external and internal factors.
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