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These variables are also known as the 4 P’s of marketing.
Despite this, Coca-Cola often struggles to maintain its market share over its main rival Pepsi Co in some overseas markets, particularly Asian countries. The marketing mix is a standard strategic tool used to formulate a plan for product development and promotions.
The Marketing mix is a set of four decisions which needs to be taken before launching any new product.
As per the the saturated fat, sodium, and added sugars found in foods and beverages are important for a consumer to think about as consumers start to build their healthy eating style.
Established in the US, Coca-Cola initiated its global expansion in 1919 and now markets to more than 200 countries worldwide.
It is one of the most recognizable brands on the planet and also owns a large portfolio of other soft drink brands including Schweppes, Oasis, 5 alive, Kea Oar, Fanta, Lilt, Dr Pepper, Sprite and Power Ade.
A marketing mix is typically made up of "the four Ps": price, product, promotion, and place.
It may also include packaging, positioning, people, or other factors.
For example, if a company is providing a service rather than a product, there may be three additional P's to consider: physical environment, process, and people. This is a factor of production costs, competition, consumer demographics, supply chain, and pricing strategy. It is a factor of performance, features, design, competition, and production issues. This is often a factor of Internet web site listings, shelf placement, signage, retail or wholesale channels, distribution, and geography.
Promotion refers to the work companies do to make people aware of the product or service.