Q1. Using a real breeding example of a participation outline the key components of a customer operate merchandise strategy. Illustrate how these components atomic number 18 utilised by your selected company in implementing a customer determined marketing strategy.
The coca plant Cola caller-out is a multinational manu detailurer and marketer of carbonated soft drinks. Founded in 1892, The coca Cola Company is a very successful company due to the fact that it takes into careful consideration its conduct market and its way of position the customer first.
Many companies are shifting away from mass marketing towards target marketing where they customize their products to suit a particular market segment. However, The coca Cola Companys vast range of beverages allows for catering to various target markets for instance, PowerAde targets those who exercise and play sport whereas Coke Zero targets a slightly older market thereby effectively attracting several(prenominal) target markets.
Upon selecting a target market, companies must deduce how to serve their consumers best. An example of this sight be seen through The Coca Cola Companys international involution as a response to changing demographics to allow for best(p) accessibility to their products. Additionally, maintaining the same quality of manufacturing and retaining Coca Colas unique try both contribute to customer satisfaction, As such, by attracting and retaining customers, The Coca Cola Company thrives on its effective customer driven marketing strategy.
Q2. Discuss how your selected company has been capturing value from customers
Capturing value from customers is key to success. By maintaining a good relationship with the customer, customers are more likely to continue loyal and talk in favour to others about the company and its products. The importance of good customer relationships becomes apparent when the economy worsens. This is because there are less consumers and less money to spend so companies must strive hard...
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