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Bosna i Hercegovina

BRKO DISTRIKT
BOSNE I HERCEGOVINE
Internacionalni univerzitet
Brko

o





SEMINARY PAPER





THEME :Marketing plan









Profesor Kristina Varcakovic
Student Asja Mehi OP71/11
Marketing plan

A marketing plan is a detailed, researched and written report that a business uses in order to
outline the actions that should be taken to customers and clients and measures taken to
persuade them to purchase the product. It communicates to the customers on the value of
goods and services. Marketing personnel evaluate the results marketing decisions made in
previous years and the market in which a business operates in order to make the right
decisions .They also set goals that provide direction on how marketing should be carried out.
Coca-Cola Company success has been attributed by a well structured marketing plan.
Marketing plan prepared by the management determines how well it will exist in the market.

Product identification
A brief discussion is made concerning an existing or new product of a business in the
marketing plan. Product identification involves knowing the identity of a product from its
source of production, raw materials used in production, work in- progress, finished product
storage and the delivery of the products to the customers. Identification of a product can be
controlled through electronic and physical methods. Product decisions should include
products brand name, quality, and scope of the product line, warranty and its mode of
packaging. (Derek 45).
Coca-Cola Company sells soft drinks and beverages to the customers. Its management takes
into consideration the advantages of selling a product and how its leveraged in the market so
as to maximize on its profits. The branding and packaging of its products unique thus has a
higher competitive advantage as opposed to that of its competitors.

Marketing objective
The basic strategy of a business is to determine a business objective .Some non-financial
market metrics can be used to measure the success of a business. These include target market
objectives and market shares- total number of new or retained customers and rate and size of
purchases made in a business. These metrics show the conditions and a circumstance facing a
company that cannot be solved through using financial methods (Baker 19).Coca Cola
Company overall objective has been to meet the needs of its customers, to penetrate the
market through providing high quality products and having a big market share through
distributing its products to all parts of the world.

Market
The size and mark up of a market is determined by the products being sold in a business. It is
also indicated by the environment in which its conducting its business. In the marketing there
should be a mission statement that identifies a businesses long-run goal, market it serves
incentives and products and services given to customers. Coca-Cola Companys markets it
products through producing concentrate syrup that is fit for consumption to all its franchise
shops in the world, this increases the sale returns of the company.

Competition
When preparing marketing plan one should take into consideration the reasons that make a
customer prefer a product from one business as opposed from its competitor. According to
Porter, he stated that it is important to prepare a detailed competitive summary of the products
and services variables and be ranked in comparison to those of its competitors so as to prepare
the right plan for a business. The variables include; pricing, sales, trends, positioning, clarity,
quality, target market focus, packaging, advertising and customer service. The management of
a company should know it competitors so as to understand its strengths and weaknesess.These
can be achieved through evaluating the competitors experience in business, purchasing power,
market position, strength predictability and the freedom to abandon the market. The Coca
Cola Company produces different kinds of products which increases of its sale turnover and
makes it to have a higher competitive advantage as opposed to its competitors. It sometimes
gives free samples and incentives to its customers.

Pricing
A price is determined by the net income and the objective that a company have for the market
of its product. The pricing decisions can be determined by knowing the market, competitors,
the economic condition of a country and the customers. Tables and graphs can be used to
show the pricing trends and decisions of different products of a company. The main factors
that an organization should take into account while setting up its prices is that of pricing
stategy,the expected volume and decision for following a pricing variable for instance; list
price,discounts,payment terms and financing options. Coca Cola company pricing is friendly
as its products are recyclable therefore minimizing on the cost of producing the empty bottles
used to pack its products.

Promotion
A product should be advertised and promoted in the market so that the customer can get to
know about its existence in the market. A business should determine how much and which
media should be used in advertising a product. Kotler, et.al stated there are factors that should
be taken into account when promoting a product that include; public relations, promotional
programs, projected results for promotional programs and budget that determines the break-
even point for making a sale of a product. Coca-Cola Company has been using the fat and
jolly Santa Claus in advertising of its products, this has enabled it to increase on its sales and
production for its products.

Distribution
This process involves ensuring the products reach the customers on time. In marketing plan,
distribution is an important element that consists of decision variables such as; distribution
channels as direct, retail and intermediate channels; criteria for evaluating distributions
;locations; motivators of channels such as distributor margins and logistics such as
transportation ,warehousing and order fulfillment . An organization should choose the best
channel that can enable it maximize on its profits (Porter 34).Coca-Cola company produces
syrups fit for consumption thus reducing the cost of transporting products from one place to
another.

Sales forecast
Sales forecast is derived through understanding a product, market for a product, price,
promotional methods used, and types of distribution a channel for a product .Sales forecast is
the driving force of all financial forecasts. It is required to give a brief summary of current
sales, identify changes, summarize changes in the forecast, and justify a forecast so as to
determine the right information concerning about a product and who well it can fair in the
market. The sales forecast helps the management of an organization to determine the kind of
resources that should be implemented in an organization in order to maximize on its profits
.In this case, factors such as political, environmental, technological and competitive factors
are evaluated so as to determine whether the business operates in a good environment. Coca-
Cola sales team derives the sales turnover on different intervals in the year to evaluate the
position of the company in the beverage industry.

Sales forecast review by management
Sales forecast review by management can be achieved through using the sales manager who
can understand the contacts in the industry, can familiarize themselves with advertising and
promotion techniques that will increase sales revenue for an organization. The qualification of
the sales personnel to generate sales leads, their relationship with the distributors and location
of their sales outlets in order to increase the revenue of an organization is taken into
consideration .These mechanisms can ensure the management reviews it sales forecast with
the actual sales so as to understand the position of business in the market. Coca-Cola
company employees prepare financial reports on an annual basis to inform the customers at its
existence and production of high quality products.


Conclusion
Marketing plans should be reviewed on an annual basis so as to determine how a business is
performing in the industry. The management of business should use the marketing plan to
determine the environment in which a business can flourish in the industry. These are
prepared in relation to the products and services that are sold that result from marketing
strategy implemented through marketing programs. Coca-Cola company success has been
contributed by well structured strategy and market penetration and production of a variety of
products that are suitable for its customers.