What is the role of strategic marketing in an organization? Discuss the role of strategic marketing at Coke after 2000.
Strategic Marketing can help you make sure you choose the right products and services that your consumers need. A marketing strategy looks at all aspects of selling activities, helps each strategy support the next and makes sure all departments involved are aware of what the others are doing.
Strategic Marketing is a way in which the firm capitalizes its current and potential strength to provide better value to its customers.
Coke revamped its entire Marketing Strategy post 2000 to counter its declining popularity and counter increasing competition.
Cokes New Marketing Strategy
1. Create Liquid Content: This implies creating content in terms of images, videos or articles that are so dynamic that they beg to be shared.
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2. Ensure Content is linked: The created content has to be relevant and connected to the companies’ goals and brand. It has to be innately relevant to the business objectives of the company, its brand and the consumers’ interests.
3. Create Conversations: Create conversations and then act and react. Not to just publish content but to interact with the audiences viewing and sharing the content. Interaction via the Social media, the new Distribution Technologies of Twitter, Facebook, Instagram etc.
(Coke Marketing Strategy involves listening to consumers globally as to what they want from a beverage in terms of price and taste. What are their activities and how they relax and recharge? What are they looking for during holiday seasons?)
4. Dynamic Story Telling: Earlier television, radio and newspapers were the one way interaction of product promotion. Coca-Cola has markedly shifted away from the static to the dynamic to allow the story to evolve as they converse and interact with their consumer via media formats and…
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