Coca-Cola's Customer Relationship Management Strategies
explanatory Essay
1064 words
Customer Relationship Management Strategies for Business Market (Individual)
Collaborative customer relationship
Collaborative customer relationship can be defined as a relationship-building strategies which is target on strong and lasting commitment, are especially appropriate for customers.
Coca-Cola is stress in their customer relationship as an organization. For example, Coca-Cola will corporate closely with their largest customers in order to build up versatile relationship. Moreover, operational linkages and information sharing system is important for keeping the product and service that offered is suit with the customer’s needs and wants. Coca-Cola has refined their collaborative customer relationship process in three main markets which are Mexico, Japan and Switzerland. They work with their customers in order to provide the better-quality beverage selection to every consumer. For instance, Oxxo which is a convenience store chain that has 5700 stores in 30 states in Mexico has recognized the Coca-Cola Mexico’s Collaborative Customer Relationship program. This program helps Coca-Cola and their customers to understand the consumer preference. On the other hand, it enables Coca-Cola to transfer a transactional and commercial link to a collaborative and multifunctional business relationship.
Customer Relationship Management
Customer relationship management is a cross-functional process to achieve a continuing dialogue with customers, across all their contact and access point, with personalized treatment of the most valuable customers and to ensure customer retention and the effectiveness of marketing initiatives. It is also provide the chance for customers to interact with the brand.
The customers for Coca-Cola are...
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...r needs. If each of them is not satisfy with the decision or the benefits offered in the contract, the contract will be cancel or stop. If any breach in their contract, there would have to lose a lot of money and even lawsuit. Therefore, contract negotiation with their alliance is challenge and difficult. It took a lot of time and the patience of both different companies in order to meet the same requirements in the contract. Another case happen is Portland Schools negotiate with Coca-Cola about the on-going terms of vending machine contract. (portland, 2007) Portland Public Schools is concerned about the health of their student and they would like to replace Coca-Cola vending machine with waters, milk and juice. However, this will affect the term of contract with Coca-cola. A series of negotiation with the schools is beginning in order to resolving the contract.
In this essay, the author
- Defines collaborative customer relationship as a relationship-building strategy which is targeted on strong and lasting commitment, are especially appropriate for customers.
- Explains that customer relationship management is a cross-functional process to ensure customer retention and the effectiveness of marketing initiatives. coca-cola only provides information about their product and allows visitors to interact with the brand in fun and attractive ways.
- Explains that coca-cola has implemented a retention strategy through coke point in britain and canada. the program is turns mobile phone into loyalty card.
- Defines strategic alliance as when two or more businesses join together for a set period of time and have similar products and services to the same target audience but are not in direct competition.
- Explains that coca cola company has strategic alliances with various large companies to influence their brands.
- Explains that coca cola's strategic alliance is to acquire brands and partner with bottlers to package and distribute their brands.
- Explains the challenges of alliance management, such as contract negotiation, protecting core assets, and leaking systems and structure.
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- Coca Cola Marketing Strategyexplanatory essayThe Coca-Cola Company is the world’s largest beverage company and is the leading marketer and producer of soft drinks. Today, Coca-Cola is consumed globally at the rate of over 600 million times per day. Nevertheless, Coca-Cola doesn’t live on its past achievements, instead it looks to the future as a challenge and continually seeks new markets and ideas of increasing its market share in locations where it presently has a strong company. This company is the world’s largest producer and distributor of concentrates and syrups for soft drinks. Products developed by the Company are sold through fountain wholesaler, bottlers, and distributors globally (Business Case Studies, 2017).
In this essay, the author
- Explains that coca-cola is the world's largest beverage company and the leading marketer and producer of soft drinks.
- Explains that the coca-cola brand accounts for nearly 75% of the company’s unit sales volume of soft drinks. the cola company's soft drink operations are managed in six groups.
- Explains that in the carbonated soft drink industry, there are two popular giants, coca-cola and pepsi cola, selling cola drinks with similar color and taste, so they are perfect substitutes.
- Explains that coke has a strong brand with loyal consumers that continue to purchase their drink when prices increase. both large companies experience positive cross elasticity of demand.
- Explains that coca-cola's pricing is almost the same as its competitors, and they must remain articulate and dependable with their pricing strategy.
- Explains that coca-cola supports the largest beverage distribution system in the world, which is made up of company-owned or controlled bottling and distribution operations.
- Explains that the coca-cola company gained unilever's ades soy-based maker for $575 million in early 2017 — this shows the company is working to provide increased choice of nutritious goods to its consumers.
- Explains that coca-cola purchased 16.7% of the monster beverage corporation for approximately $2.15 billion in 2015. this strategic partnership makes financial sense for both companies.
- Explains that fuze beverages was established by lance collins in his basement in 2000 and produced teas and juices. it was purchased by coca-cola in 2007 for $250 million.
- Compares coca-cola's decision to acquire glaceau, the creator of vitamin water, for $4.2 billion.
- Explains that coca-cola acquired minute maid in 1960, which is the market share director in frozen concentrate drinks and trails pepsico’s tropicana for ready-to-drink juices.
- Explains that coca-cola has a global distribution system through independent bottlers. the group was created to purchase and invest in struggling bottles and manages bottling operations in 19 markets.
- Concludes that the coca-cola company is the world's largest beverage company and the leading marketer and producer of soft drinks.
- Cites buehler, n. (2017). top 5 companies owned by coca cola (ko). business case studies.
- Cites dimanche's coca-cola pricing strategy, and economics blog for the cola oligopoly.
1692 wordsRead More - Columbia Sportswear Case Studyexplanatory essayMarketers have recently realized the importance of thinking about their customers in terms of relationships rather than transactions. To build relationships, companies use Customer Relationship Management (CRM) to encourage loyalty from their most valued customers. CRM refers to the practices, strategies, and technologies that companies use to organize and evaluate customer interactions and data. Companies gather data from customers using frequent shopper or shopper loyalty cards and store credit cards to understand their individual purchasing behaviors. In addition to strengthening business relationships, the overall goal of CRM is to increase customer retention while encouraging the growth of sales. To meet the customer’s needs, retailers
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- Explains that columbia must adapt to changes in technology, purchasing behaviors, and much more in order to effectively meet the always-changing needs of their customers.
- Explains that columbia's customer contact center struggled to support the high volume of customer service calls prior to the holidays and cold weather. columbia responded by inducing a crm system through incontact cloud solutions.
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- Explains that coca-cola's customers are at the heart of everything they do. this means building partnerships that create sustainable value and profitable growth for their business and their customers across all key channels.
- Explains that coca-cola is the leading provider of soft drinks in the world. it has a number of brand variants, including dr pepper and sprite, and produces fruit juices and sports drinks.
- Explains that coca-cola's distribution process is a key element of its offering. it sells its products in pop vending machines placed in businesses and public buildings.
- Explains that coca-cola's long-term pricing strategy is value-oriented, despite being a leader in its industry, its fierce rivalry with pepsi has forced it to maintain affordable price points to appeal to its vast middle class market.
- Explains that diet coke is specially designed for people with diabetes or to control the weight. changes in external environment will create opportunities or threats in the market place.
- Explains that coca cola has successfully addressed the needs of its health conscious overweight customers with the launch of diet coke, but its competitor has yet to come up with and counter it properly.
- Explains that coca cola's diet coke has the same great taste as regular drinks while still being low fat or low calorie. the company is able to spend more money making their factories work more efficiently.
- Explains that the marketing mix is a standard strategic tool used to formulate plans for product development and promotions. the coke diet drinks are targeted at adults of ages 30-50.
- Explains coca-cola invests billions of dollars a year in advertising and promotions to maintain its position of industry leadership against rival pepsi.
1045 wordsRead More - Coca Cola Competitive Strategyanalytical essayThe Coca-Cola Company is an American multinational company, which is the world’s leader of the non-alcoholic beverage markets, operating in the beverage industry as manufacturer, retailler, and marketer of nonalcoholic beverage concentrates and syrups (Ravi). The company is based in Atlanta, Georgia. Since 2015, the current CEO is Muhtar Kent. The product was invented by a pharmacian, John S. Pemberton in 1886. In 1889, Asa G. Candler begins to acquire personal control of the Coca-cola formula and patents from John Pemberton and his Partner. He founded the Coca-Cola company in 1892 in Atlanta, Georgia.
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- Explains that the coca-cola company is an american multinational company operating in the beverage industry as manufacturer, retailler, and marketer of nonalcoholic beverage concentrates and syrups.
- Explains that the coca-cola company is the world's largest beverage company, which owns or licences more than 500 brands in 200 different countries, employs 146,200 workers, and sells approximately 1.7 billion units each day.
- Explains that the coca-cola company's stock is referenced on the new york stock exchange and is part of the dow jones industrial average, the s&p 500 index, and the rusell 1000 index.
- Explains that coca cola company must gain a competitive advantage against other companies operating in the same industry. the company has put various strategies in order to be competition oriented.
- Explains the coca-cola value chain, which includes inbound logistics, operations, outbound logistic, marketing and sales, and service.
- Explains that coca-cola company has a strong brand portfolio offering highly differentiated products of more than 400 brands in order to target broader customers.
- Analyzes how coca cola's porters 5 forces deal with threats of new entrants, substitute products, bargaining power, and rivalry among existing firms.
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- Explains that sales force automation provides easy retrieval of information on customers, deals, products and competitors. order placement and tracking are integrated so they can be easily monitored.
- Explains that crm allows companies to "incorporate an exemplary customer service into its core." it allows queries to be directed to appropriate experts.
- Explains that remote staff can quickly and effectively communicate with customer service personnel to meet customer's individual expectations.
- Explains ehret, m. 2004. managing the trade-off between relationships and value networks.
- Explains the value of relationship marketing and crm in business contexts.
- Explains how xu, yen, lin, and chou adopted customer relationship management technology in industrial management and data systems.
- Describes wilson, r., "developing new business strategies in b2b markets by combining crm concepts and online databases."
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- Concludes that crm is one of the most valuable tools of b2b marketers but they have to look closely at whether their customer desires a relationship with their supplier.
1526 wordsRead More - Background of the article and its relevance to the course content Atlanta-based Coca-Cola Co. is the world's largest beverage company. They have almost 500 brands which are sold in more than 200 countries at a rate of nearly 1.6 billion servings a day. Through the world’s largest distribution system, Coca-Cola Enterprises Inc., The Coca-Cola Company allows consumers in more than 200 countries the opportunity to enjoy their sodas, juices, and sparkling beverages every day. Coca-Cola Enterprises Inc., also based in Atlanta, bottles and distributes the majority of the beverages that the Coca-Cola Company creates as products. Coca-Cola Enterprises Inc. is the largest marketer, distributor, and producer of nonalcoholic can and bottle refreshments in the entire world.
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- Explains that many employees and investors were skeptical of the proposed transaction. the coca-cola company may have a credibility problem because it spent the previous year expressing their support and admiration for their existing distribution system.
- Analyzes how coca-cola company and coca-cola enterprises strategically advance and strengthen their partnership. businesswire.
- Explains that atlanta-based coca-cola co. is the world's largest beverage company. they have almost 500 brands which are sold in more than 200 countries.
- Opines that this transaction will provide sustainable benefits for both companies' stakeholders, such as a one-time cash payment of $10 per share and improved financial flexibility.
- Explains that mergers and acquisitions are a common way for businesses to grow and flourish, but are not without its risks.
1364 wordsRead More - Bottled Water Industry: Competition, Trends, and Strategiesexplanatory essay... objects and customer regions. Do making a clear differentiation image between its soft drinks and bottled water. Because the consumers may believe that bottled water of Nestle sounds healthier than Coca-Cola brand since Nestle tend to emphasize their image on healthy food products. Then do market test for new taste, new packaging, or new innovation according to each regions, and especially for Europe, the company should launch the new one to replace Dasani image in order to seize their market shares. They may renew all nutrients and packaging. Finally Coca-Cola should continue its joint ventures with the regional companies in order to protect their products from barriers to entry both international trade restrictions and distribution channels. Furthermore, joint venture with local brand is a long term contract guarantee to make it easier for HOD to a specific region.
In this essay, the author
- Asks coca-cola to improve its competitiveness in the global bottled water industry.
- Explains that if we define economic characteristics in terms of macroenvironment, there are several ways that we can categorize as the following.
- Explains that the bottled water industry has a high potential in growth rate and in the terms of sales volume or per capita consumption rate.
- Explains that there were fierce competitions among the producers that have scale and scope of operations that were similar to each other.
- Explains that local sellers have a little amount of scale and scope compared to huge bottled water production companies (pepsi, coca cola, nestle waters, and group danone).
- Explains that buyers are satisfied with the purity of bottled water compared to soft drinks and tap water. the number of people infected by disease has increased in the united states and other parts of the world.
- Explains that producers have to compete with each other in placing their products in the shelves, while companies with low scope and economies of scale tend to have a lower position compared to leading companies in industry.
- Explains that large bottlers gain competitive advantage over their competitors because of their bargaining power in negotiations with the supplier.
- Explains that customers can purchase tap water through municipal system, choose soft drink, juices, milk, and etc. instead of bottled water. there are many other beverage companies in the market in which the customer can easily find substitution products
- Explains that buyers in this market have more bargaining power. if the company increases the price slightly, the customer can switch to other bottled water company easily.
- Opines that newcomers must adapt their strategies with distributors, buyers, and suppliers to gain more scope and economies of scale while competing with other bottled water ventures.
- Explains that pepsi co. and coca cola try to prove that their own water products like aquafina and dasani, are on the same level of purity and health concern.
- Explains that the industry has a high demand and high supply, so the producers have to develop their bottling system.
- Explains that there are many serious big competitors out there in the market arena, such as pepsico, coca cola, nestle, danone, and etc.
- Explains that the best positions on the graph correspond to the highest degree of market shares acquired, usually through cost leadership and product availability, and/or the one at the top of the vertical axe.
- Recommends that coca-cola improve its competitiveness in the global bottled water industry.
1933 wordsRead More - Customer Relationship Managementexplanatory essayCustomer relationship management or CRM for short is a model for managing a company’s interactions with current and future customers. When CRM is utilized correctly it will increase profitability and customer loyalty, which are both very important to an organization. It involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support. Customer relationship management is very important in many ways to help a company become and stay successful. CRM can help businesses gain a competitive edge through communication, marketing, gathering customer information, social media and mobile technology. Customer relationship management is a continually evolving domain and now social media technologies have revolutionized the way businesses and consumers interact. (Choudhury & Harrigan, 2014) There are many benefits that come with implementing customer relationship management.
In this essay, the author
- Explains that customer relationship management is a model for managing company's interactions with current and future customers. it involves using technology to organize, automate and synchronize sales, marketing, customer service, and technical support.
- Explains the importance of having a customer relationship management program in place to manage customer relationships effectively and efficiently.
- Explains that socialization and social media has become a huge asset to customer relationship management because it allows businesses to communicate with their customers more frequently.
- Explains that customer relationship management is a necessary component of thriving, growing, successful business. companies need to focus on data analysis, effective marketing strategies, and customer interaction through social media and mobile technology.
- Explains that crm to social crm: the integration of new technologies into customer relationship management.
900 wordsRead More - Coca Cola Case Studyanalytical essayCoca Cola: The World Wide Leader of Beverages Coca Cola is an American multinational manufacturer and distributor of Coke and other soft drinks. Coca Cola was invented by a Pharmacist named John Stith Pemberton in 1886. The original formula was invented and claimed to cure many diseases such as indigestion, nerve disorders, headaches, impotence and even help with morphine addiction.
In this essay, the author
- Explains that coca cola was invented by a pharmacist named john stith pemberton in 1886 and claims to cure indigestion, nerve disorders, headaches, impotence, and even help with morphine addiction.
- Explains that coca cola's strategy to success is investing in its brand, making it difficult for competitors to catch up.
- Analyzes how coca cola's astute marketing strategies have played a huge role in its global expansion.
- Explains that coca cola's quality control strategy is simple: if it’s not broken, don’t fix it. their packaging is another fundamental element in how they managed each stage of growth while maintaining control of their brand.
- Explains that coca cola has demonstrated ethical leadership and support in different communities.
- Explains that coca cola's mission is to grow a profitable empire, deliver excellence and value to their investors, all while being trusted by all who inhabit mother earth.
- Explains that coca cola's start was intended for another market, yet transitioned to who they are today successfully. few companies have that type of bragging rights.
1204 wordsRead More - The Coca-Cola Company: Market Based Management and Value Driven Management Strategiesexplanatory essayIntroduction The Coca-Cola Company was founded in 1892. Since its inception, the organization has seen a steady increase in its market share over the years, and to this day has operations in over 200 countries worldwide. To achieve such success in its competitive market, Coca-Cola has employed sound strategies that have helped it become among the leaders in its industry. The Coca-Cola Company utilizes Market Based Management (MBM) techniques as well as Value Driven Management (VDM) techniques within the organization and in its market to help the firm sustain its stronghold of the market.
In this essay, the author
- Explains the coca-cola company, founded in 1892, has seen a steady increase in its market share over the years, and has operations in over 200 countries worldwide.
- Explains market based management is premised upon a free market system, as described by jones and george (2014). customer-centric values are essential to organizational success in the short- and long-term.
- Opines that value driven management takes into account what drives action of all relevant groups and how this impacts the value of the organization over time.
- Explains the importance of evaluating short- and long-term consequences of value driven management. it is also prudent to recognize one's own role in an organization, what is valued, and be aware of the time horizon.
- Explains that the coca-cola company has been a global reference for decades. its logo is recognized by 94% of the world's population.
- Explains that coca-cola has operations in over 200 countries worldwide and continues to expand. the free flow of ideas provides a rich source of information, products, and business opportunities for every corporate venture, but comes the challenge of effectively communicating among work groups with different backgrounds.
- Explains that the coca-cola company implements several strategies that facilitate communication and the flow of ideas across its market.
- Explains that coca-cola exposes its associates to different cultures and practices by sending them on short-term assignments, and when they return to their home country, new ideas come along.
- Explains that coca-cola freestyle is the newest and among the most innovative examples presently. it is a dispensing machine, which is an easy method of targeting all sorts of demographics by on-screen selection.
- Explains that coca-cola's free flow of ideas across its global market provides cost effective and efficient business opportunities. the value drivers listed above will be analyzed further from a value-adding perspective using mbm and vdm.
- Explains coca-cola's use of free flow of ideas as a means to propel the firm forward has worked with precision.
- Explains that coca-cola sends its associates to foreign countries for short-term assignments, exposing them to different approaches that would not be seen in their native countries. mbm principles state that employees must be cognizant of what the consumer base wants.
- Explains that coca-cola freestyle is a direct product of the firm's free flow of ideas.
- Explains that coca-cola enterprises accelerates executive communications.
- Explains coca-cola supplier and customer partnerships.
- Describes guffey, loewy and jones, g. r., and george, j. m. (2011). contemporary management.
1315 wordsRead More