Marketing Management -Central Issues In Marketing - Corporate Objectives - Assessment Answer

Marketing Management Assignment

Thisassessment is designed to engage you in the subject and to begin to develop an understanding of central issues in marketing. It will also be the start of the discussion and comparison with your peers on topics of the marketing concept and market management, and starts the process of the marketing audit.

Incorporating the theoretical concepts into your discussion from first two chapters of the text, and with the use of secondary research, discuss the following concepts and apply to your selected organisation:

Assignment Task

1. Identify theconcept of corporate objectives and evaluate an organisation with information available in the public domain.
2. Discuss marketing orientation concepts (i.e. themarketing concept, the selling concept or production concept) Explain with examples which concept your organisation follows.
3. What is your organisation's core marketing strategy? Discuss thestrengths and weaknesses of the current marketing strategy and explain how this strategy will help your organisation reach its corporate objectives.

Task 1

The assessment is based on the Coco Cola company which is a leader in aerated drinks. The corporate objectives of a company allow the company to have a direction, purpose and a sense of unity. It plays a major role when it comes to the decision making process of a company. The objectives for a company are communicated by the mission statement of a company. A company bases its strategy on the objectives that has been outlined for the company (Solomon, 2014).

The corporate objective of Coco Cola is to be a global brand that conducts business in a responsible and ethical way such that the sustainable growth is accelerated. These objectives allow the company to form the basis of its strategy and the decision making process. At the same time the mission of the company is to refresh the world, inspire moments of optimism and happiness and to create a value in order to make a difference.

It is clear that the objectives of Coca Cola id fulfilled by its resources which consist of its employees, suppliers, customers, raw material which is processed into the finished product and all these activities take place keeping the objectives of the company in mind (Wood, 2011)

Task 2

Market orientation can be defined as the process by which a company focuses on the discovery of the needs and desires of the customers through the product mix and hence fulfilling theses needs and desires. The market orientation allows the company to outline a consumer needs and ensuring that their needs are satisfied. Market orientation works in thee reverse order where it intends to tailor the products that are based on the demands of the customers Lamb, Hair & McDaniel, 2011).

Coco Cola mainly has two type of market orientation which is the product orientation and are market orientation. Product orientation can be explained as an approach in which the business concretes on the product and the ways of making the product. Coco cola constantly ensures that it keeps upgrading the technology that its uses to make the beverage. Also the company can be called market oriented because it clearly states in its statements that the customers drive everything that the company does. The company also serves their customers a broad range of beverages which consist of mix of aerated drinks, juices and other non-alcoholic beverage in order to fulfil the different need of the customers (Babin & Zikmund, 2015).

Task 3

The cores market strategy of the company is to showcase all the Coco cola products is its branding which is uniform throughout the world. The coco cola script and its red and white colours are a part of the Coca Cola product. The company in its recent endeavour has started one brand strategy which means that the four distinct brand of the company will be advertised together as one brand (Kotler and Armstrong, 2010)

The strengths of the strategy are that it will allow the consumer to be associated with the company in a large manner since they will view all the four products under the same brand. Theism was also allowing the company to target the customers in a simpler manner since they will not be seen as four different groups. The weakness of the strategy is that it will not allow other products of the company to be a part of the advertisement for which it has to spend a spate promotional budget for the products. The company will reach its objective since the strategy will lead to a sustainable growth of the products which is in line with the objectives that are outlined for the company (Simeone & Marotta, 2010).