An organization’s competitive advantage lies in its marketing strategy. It is what makes the company win over its competitors. Marketing functions culminate from planning and implementing concepts, pricing, promotion and distribution of ideas and goods (Li, 1995). Success in business lies in how a company outperforms its rival companies in satisfying the customer needs (Li, 1995). Marketing research is pertinent so as to formulate viable marketing plans for a company’s marketing initiatives (Li, 1995). Every company that desires success must place focus on the consumer and his or her perspectives. The consumer is the lifeline of every successful business. Good consumer relations forms a vital part of every company’s success.
Coca cola’s consumer relationship management (CRM) and technology
The Coca-Cola Company relies on marketing communications, which are an important marketing aspect of CRM. That is mostly based on one on one communication. The company uses a real-time engagement hub located at the company’s Atlanta headquarters. Teams here engage in live time conversation with consumers. The company’s reliance on social media reaches 15000 tweets per day. There are consumer interaction centers located around the world (Doubleclick, 2013). The advent of social media was a breakthrough for businesses. The company is now able to communicate its presence to a wider audience and hence reach a huge market. The company can announce its products and innovations to many people.
The suppliers and employees play a crucial role in the company’s decision-making strategies. The consumers are provided a mutual engagement with the organization. Everyone within the company knows everything about the Custer Weather by sales and marketing strategies. The company has a CRM system software that ensures if a delivery goes wrong the customer sales representative and distributor will see it instantaneously. A sales person can open the application electronically when they are in the field and instantly locate every single outlet located around them (Nehammer, 2015). That enables them to conduct surveys anytime, which is a valuable feedback to the company. These studies are vital for feedback necessary for creating products that are useful for the business.
Strategies, practices, and technologies used by a company to manage and scrutinize consumer interactions and the associated data throughout the lifespan of the consumer’s relationship with the company are an important tool in CRM (Rouse, nd). Companies seek to improve consumer relations and loyalty to drive sales growth (Rouse, nd). A good CRM strategy gives the company the much needed competitive advantage that ensures the company remains successful and above its rivals. Organizations can successfully find consumers and cultivate deeper loyalty (Anderson & Kerr, 2002).
Coca cola’s CRM strategy relies heavily on content marketing, which attracts customers and creates their loyalty through consistency and allocation of valued and relevant marketing content. The company’s approach to marketing is unique and does not rely on agencies. It goes beyond to capture collaborative approach to storytelling. It relies on consumer’s feedback to shape creativity to the business (Baker, 2011).
Social media such as Facebook, Twitter, crowd sourcing as well as working directly with musicians in the film industry to create content through storytelling forms a very effective marketing strategy for the company.
Using CRM software, the company can determine customer attitudes and opinions of the brand as well as helping them target different profiling groups in various locations to promote better their products and brand. Through crowd marketing, users gain insight into consumer behavior. This feedback is got through social media tools such as Facebook and twitter. The CRM software is useful in that it can be used even in remote places due to the use of mobile technology. This technology offers an efficient tool for promoting offers, competitions and getting feedback about the products. This use of technology helps in identifying the areas, which need improvement, and those that work best. That provides innovative ways to boost sales and improve customer perceptions of products.
The company’s marketing strategy has worked well for it against its competitors. It has become a leading brand beating its major competitors Pepsi by a wide margin. The company can adapt to changing conditions and circumstances. The company can interact well with its consumers and hence know their needs and works towards meeting them. The company makes sure that the products are available every time they are needed.
Marketing plays a vital role in ensuring the success of any company. Those who wish to remain competitive must invest heavily in proper marketing strategies. Coca-Cola has perfected this game and has been able to gain a competitive advantage over its rivals in a great way. Use of technology and innovation plays a vital role in determining how effective such a marketing strategy will work. The use of social media has provided a platform where companies can reach a wider market within a very short time thanks to mobile technology. The competition will get stiffer as many companies will be able to market their products to a wider audience.