1. Evaluate your product/brand’s current advertising components.
2. Identify the current marketing communication mix used by your chosen product/brand. You must use examples to support your answer. Use appendix for that.
3. Identify current segments of the product/brand using Roy Morgan’s Value Segment.
The new drink, ‘Coca-Cola Life’ is not able to penetrate deep in the market as marketing is weak
The brand needs a strong marketing plan (Shaomian & Heere, 2015)
Objective of Coca-Cola Life is to increase awareness & consideration, followed by conversions
The drink, Coca-Cola Life should be at top of the mind of consumers when they any beverage
KPI: Brand Recall (Samaha, et al., 2014)
Coca-Cola wants to focus on entire marketing funnel from awareness to conversion as it has problems across different areas for marketing funnel
The awareness is limited as people associated Coca-Cola only with carbonated drinks that are tasty but not healthy
The brand recall for Coca-Cola life is less as people tend to forget about it
The company is not able to penetrate deep with its Coca-Cola Life product
Marketing Communication Goals & Objectives
The key marketing communication goals & objectives for Coca-Cola life can be discussed as:
Improve brand awareness with marketing
Use social media platforms to increase brand awareness about Coca-Cola Life
Use marketing budget to increase market penetration
With the use of IMC improve customer satisfaction
Improve Brand Recall (Hanushek, et al., 2015)
Marketing Communication Mix
The marketing communication mix for Coca-Cola life would consists of both online and offline channels.
The combination of offline and online channels would ensure that Coca-Cola does not miss on any audience groups. For example, Moms would have heavy usage of offline channels and university students or millennials would have heavy usage of social media channels.
Therefore, it make sense for Coca-Cola to have combination of online and offline channels.
Budget Considerations: Online channels
There would be three key online channels: Social Media Platforms, Mobile advertising & Email marketing
Social media is the best way to reach out to consumers as people are always active on social media platforms
With mobile advertisement, Coca-Cola can reach consumers with customized advertising
Email marketing for Coca-Cola Life would focus on establishing the message that Coca-Cola is best brand among beverages
Campaign Evaluation Method
Method 3: Measure Brand Awareness
Its important to measure the brand awareness. It can be measured by asking users of their perception of Coca-Cola Life has changed in last 6 months (Zhang, Zhou, Su & Zhou, 2013)
A small questionnaire can be created to ask used about their association with Coca-Cola Life
4 keys method of Brand Awareness are:
Look at Website Traffic
Analyze search volume data
Coca Cola Life must use both Offline and Online channels to reach out to consumers
The integrated media budget of $50,000 should be split heavily towards online channel.
The online channel would get 60% of budget and offline channels would get 40% of the budget
In online channels, the maximum budget would be spent on Social Media Marketing
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