Critical Horizon Scanning Report on Future Marketing Trends for Coca Cola

Selected Business Background

Note: This work is a buildup (part 2) on the Digital marketing plan power point presentation work you did for me. Which formed 40% of the total assessment. It is the other 60% work that needs to be done. Please refer to the Handbook attached for full details and required marking criteria. Question: Part 2: Critical horizon scanning report (60%) (LO1, 4) – a critical reflection on how future marketing trends may impact on the current marketing plan and challenges of implementing the marketing plan through the lenses of stakeholder engagement. 2,500 words equivalent. IMPORTANT INFORMATION YOU SHOULD NOT IGNORE IN THIS WORK FROM THE LECTURER. Use Intext citations and good academic references. A. Define in your own words Horizon scanning in marketing context and how can it be use as a method to the business according to your research. Support it with intext citations. This Horizon scan will help you to reflect on the things you addressed in the part 1 ( marketing planning). B. Describe the disruptors and how they can impact on the business. E.g Digital Disruptors have impact in these four area Business, Technology, Society and industry. Is important you talk about what Coca Cola will do to secure and attract the customers and to use their data for what kind of purposes. What does Coca Cola do? Talk about the impact that digital disruptors course on these areas. C. Pros and Cons of Horizon scanning to the business (coca cola) and the brand. D. What will be the challenge in terms of digital transformation? E. What are the Processes involved in the horizon scanning? F. Think about yourself as the digital marketing professional for Coca cola. What are your plans to take the company into the near future e.g 5, 10, 20 years. You have to talk about where you want to take the company. Look at the futuristic vision in these 3 areas key areas below: Please these 3 areas is a must. Is key to this work: 1. Consumer Behavior in the future where exactly will we be in texture. How demanding we will be? 2. Technological development in the future. How will technology impact on the consumers and on the business brand. 3. Marketing Journey/development in the future. What exactly will marketing be in the future for the company. E. Digital Optimizations: The marketing futures and the plans you have proposed. It could mean you optimize your resources that could include the 3M’s which are Man, Money, Minutes and the continues improvement that you will allocate the resources. E. Use Models and various perspectives in your discussion like SMAC Model (Evans (2017) Which includes all the potential areas the business can consider to improve the customer experience (Social, Mobile, Analystics and clouds) F. You can also talk about the pillars of digital transformation PLEASE FOLLOW THIS STRUCTURE PROPOSED BY THE LECTURER Additional Information for Completion of Assessment: This is a suggested layout for the outline of your report: Executive Summary – Here are some key points that you may find useful and need to incorporate into the narrative when writing up the Executive Summary for the Horizon Scanning Report: 1) State the purpose of the Report- ‘The main purpose of this report is to…..’ (Determine the scope and objectives of what is this report about, you may also want to include a brief statement on why this marketing plan is produced.) 2) Describe the procedure used, the executive summary is a synopsis for the internal & external stakeholders, the prospective investors, ‘This report has XYZ sections and summarise what research has been undertaken and what methods you have adopted in creating the report. 3) State the core recommendations/objectives (Bullet points may be used to enhance clarity). (Explain how the findings will be transferred to changes; actions; what future implications the marketing plan may have. etc.) Introduction – Keep this section short and signpost to the main content of your report. Demonstrate your awareness of the overall connection of market forces, dynamic business environment and innovation approaches relevant to the future trends. State the purpose of this report. Selected Business Background – This is where you explain and critically evaluate the organisation’s current position. The analysis of the key drivers / challenges goes here. Horizon Scanning: Why, What and How – This is a section where you are going to explain and critique the horizon scanning method and process. Future Marketing/Technology/Consumer Trends Impact on Marketing Practice – Assess the needs for horizon scanning in the selected business, access relevant marketing/technology/consumer reports, discuss and challenge the existing marketing plan you have produced. Apply critical analytical skills to gain insights on how marketing planning, objectives and process can be better communicated to the stakeholders and to support business to make decisions. Research Implication and Future Actions/Recommendations – Identified research implication and limitations are discussed here. Consider the impact of your research on managing the changes and practices in the marketing planning context. Narrate the recommendations that will support the business to gain competitive advantages in a regional/national/global environment. Conclusion – The Conclusion can be a reflective paragraph to state what you have learned adopting horizon scanning method in the report. The content could mirror what you set off to achieve in the introduction. Reference List – Harvard Referencing must be used. Learning Resources Reading The key text(s) for this module are: 1. Marketing plans: how to prepare them, how to profit from them - Malcolm McDonald, Hugh Wilson 2016 (book ebook) 2. Malcolm McDonald on Marketing Planning : Understanding Marketing Plans and Strategy by McDonald, Malcolm, McDonald, Malcolm Other recommended reading for the module is: 1. Strategic marketing: planning and control - Graeme Drummond, John Ensor, Ruth Ashford 2008 (ebook) 2. Strategic marketing planning - Colin Gilligan, R. M. S. Wilson 2009 (book; ebook) Other more specific references are provided on the Module Blackboard site and will be signposted in class. You are also expected to read independently for this module: Reports: 1. Tech-Trends-2019 Document Recommended Reading 2. Global Consumer Trends 2030 Mintel Webpage Recommended Reading Global Consumer Trends 2019 | Mintel.com Webpage Recommended Reading 3. 2020 Global Marketing Trends Document Recommended Reading Journal Articles: 1. Interactive, direct and digital marketing A future that depends on better use of business intelligence Journal Recommended Reading 2. Older Consumers, Digital Marketing, and Public Policy: A Review and Research Agenda - Daniel Nunan, MariaLaura Di Domenico 10/2019 Article Recommended Reading 3. Digital Marketing for Sustainable Growth: Business Models and Online Campaigns Using Sustainable Strategies - Jose Ramon Saura, Pedro Palos-Sanchez, Beatriz Rodríguez Herráez 30/01/2020 Article Recommended Reading 4. The future of social media in marketing Article Recommended Reading 5. In pursuit of an effective B2B digital marketing strategy in an emerging market - Valter Afonso Vieira, Marcos Inácio Severo de Almeida, Raj Agnihotri, Nôga Simões De Arruda Corrêa da Silva 11/2019 Journal Recommended Reading 6. The determinants of stakeholder engagement in digital platforms - Giampaolo Viglia, Rebecca Pera, Enrique Bigné 08/2018 Article Recommended Reading This module requires that you follow the Harvard System of referencing.