Executive Summary The marketplace is unpredictable, a virtual battlefield with cutthroat competition, acquisition. Attaining total success is an arduous task as one needs to win the heats and souls of the people by adopting adopting proper marketing marketing strategy with a competitive competitive quality quality to price ratio. Quality and service are the major tools for us in this duet.
The history of Partex Group is no different. It had its modest beginnings in the tobacco trade in 1959 under the prudent stewardship of its Founder. Charmin Mr. M. S. Hashem it has grown steadily over the years to become one of the leading industrial conglomerate in the country.
In the early early sevent seventies ies,, M/S Hashem Hashem Corpor Corporati ation on Ltd. Ltd. was establ establish ished ed with with headquar headquarter terss in the portport- city city of Chitt Chittagon agong. g. The missio missionar nary y zeal and unfli unflinchi nching ng commitment to quality and services took the group to higher elevations. At a time when the newly independent country needed almost everything, the company involved itself in the import of essential items like iron, steel, cement, sugar, rice spices, wheat, salt, milk and other commodities. It did not stop there but to make the country self-reliant went on to substitute imported products by manufacturing them locally. Guided, by this visionary dream and backed by an inexhaustib inexhaustible le repository repository of effort, effort, the group emerged as one of the largest corporate body of the country. co untry.
The towering height reached by the group was possible due to a market friendly strategy, evolved by its pioneers. Modern management optimized on the initiative and imagination of the personnel was the watchword. No work was too little for them, no service insignificant. The pace of growth was further strengthened with their dedicated and capable board members: Mrs. Sultana Hashem, Mr. Aziz Al Kaiser, Mr. Aziz Al Mahmood, Mahmood, Mr. Aziz Al Masud, Masud, Mr. Showkat Showkat Aziz Ruseell Ruseell and Mr. Ashfak Aziz Rubel, under the leadership of the company’s founder Chairman Mr. M. A. Hashem.
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Partex group owns and successfully operates more than 17 manufacturing, service and trading concerns offering best value for money to customers. The Group’s venture in the global market started, rather, non-traditionally, with the export of condensed milk, they are confident that their export thrust will expand where their information technology venture is expected to play a major role.
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Partex group owns and successfully operates more than 17 manufacturing, service and trading concerns offering best value for money to customers. The Group’s venture in the global market started, rather, non-traditionally, with the export of condensed milk, they are confident that their export thrust will expand where their information technology venture is expected to play a major role.
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Company overview The following table shows the companies under each industry.
PARTEX GROUP FOOD AND BEVERAGE
HOME AND OFFICE
Danish food products
APPLIANCES Partex Furniture Gallery
Partex Beverage
Star Particle Board Mills TEXTILES TRADING AND SHIPPING
Amber cotton
Corvee Martime Ferrotech
OILS AND REFINERIES
Hashem Corporation
Star Coconut and Vegetable oil
Star Chemicals METALS AND PLASTICS PULP AND PAPER PROCESSING
Partex Plastics
Amber Pulp and Paper
Russell Steel Plastics
SERVICES
REAL ESTATE
Dhakacom (ISP)
Partex Real Estate
Fotoroma (QSS Color Lab)
Partex Construction
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RC COLA- “ The freedom of choice”
RC Cola, on the other hand has done excellent during the past years, Royal crown
International, a US based company, old over 70 countries; Partex has brought its drink to Bangladesh. Cola, Orange and cloudy Lemon can be had in the 1 and 1.5 litter bottles.
They come in various packages and different sizes in PET bottles, glass bottles and cans. The labeling and packaging of these drinks are very attractive. The pet bottles are unique and compete with older and popular brands like Coca-Cola and Pepsi. They come in sizes of 1.0, 1.5, 2.0 liter. The cans are attractive too. They have been launched recently in the market and doing fairly well and standing good competition from foreign as well as local brands. Royal Crown is committed to offer Bangladesh more choices of soft drinks.
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A SHORT HISTORY OF ROYAL CROWN COLA
Royal Crown Company Inc., originally called the Union Bottling Works, was born in Columbus, Ga. in 1905. A young graduate pharmacist, Claud A. Hatcher, began creating his own soft drinks in the basement of his family's wholesale grocery business. From these humble beginnings, Royal Crown Cola Co. grew to be the third largest soft drink company in America.
At first, the Hatcher Grocery Co. purchased bottled drinks from a local bottler and resold them to its grocery customers. As this part of the business grew, Mr. Hatcher insisted that the bottler pay the company a commission or compensate him in some way for handling the drinks. A dispute arose and Mr. Hatcher concluded that his company had purchased its last case of drinks from an outsider. Henceforth, it would produce and bottle its own drinks under its own labels.
The first line of beverages was named Royal Crown, and the first cola drink that he devised was called Chero-Cola. Subsequent generations were to apply the Royal Crown trademark to a cola, and it was to become so important that the corporation would be renamed "Royal Crown Cola Co." Shortly after the Hatcher Grocery Company decided to engage in the manufacture of soft drinks, its officials organized the wholly owned Union Bottling Works. The manufacture and bottling of soft drink syrups continued within the framework of the Union Bottling Works until 1912, when the newly organized Chero-Cola Co. took over the business and vastly expanded it.
Among the early products were Royal Crown Ginger Ale, Royal Crown Strawberry, Royal Crown Root Beer and Chero-Cola.
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As the sales of carbonated beverages by the Hatcher Grocery Co. became more important, it was decided to incorporate the Chero-Cola Co. In 1912, Judge S. Price Gilbert in Muscogee County Superior Court of Columbus granted a charter. The company was to manufacture a line of syrups and flavour concentrates to be sold to franchised bottlers who bottle and sell these concentrates and syrups under trademarks owned by the Chero-Cola Co.
In April of 1914, Chero-Cola Co. filed application in the United States Patent Office to register its trademark, Chero-Cola. The Coca-Cola Company then instituted a lawsuit that lasted for more than nine years. In fact, litigation concerning the use of the company's trademark continued in one form or another until 1944 when the final victory was won by Royal Crown Cola Co., setting for all times its right to use the word "cola" in the name of its beverages.
The years 1914 - 1920 showed steady, but at times, rapid growth in sales. Both profits and company assets increased steadily.
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THE PRODUCT LINE OF RC COLA
RC COLA
RC ORANGE
RC CLOUDY LEMON
RC UPPER TEN
RC COLA TWO-LITER PET
RC COLA ONE-LITER PET
RC COLA 500ml PET
RC COLA DIET ONE-LITER PET
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THE PRODUCT LINE OF RC COLA
ROYAL ORANGE PET
ROYAL LEMON PET
RC COLA CAN
RC COLA DIET CAN
CLOUDY LEMON CAN
ROYAL ORANGE CAN
UPPER TEN CAN
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SWOT Analysis Strengths •
Flavors: RC cola have 5 variants of flavor, which makes the product different. It
comes with different packaging like glass bottle, PET bottle, can etc. It is more than any other soft drink company in Bangladesh. So, it will give them an opportunity to satisfy needs of different customer.
•
Good Performance in Bangladesh: Till now RC COLA performance in
Bangladesh is excellent. The most significant contribution of RC Cola to the Bangladeshi soft drinks market is 15 Tk. can, which is a big hit. Even Coca-cola and RC COLA followed their footstep and produced the same kind of can. This gives the indication of a good creative thinking workforce, which will help them in Bangladesh. It could be also seen from the number of flavors they have. They invented 8 flavors in just 9 years, which is remarkable. So, their workforce will help them to conquer the world.
•
Product innovation capability: The research and development department of RC
Cola is very good. They work for continuous improvement of their product. They will always come up with new flavor, package etc. This will help them immensely to capture the Bangladeshi market from Coca-Cola and Pepsi.
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Weaknesses •
New company: RC COLA was established 1998. It is very new relative to its
competitor like Coca-Cola and Pepsi. That will be a big disadvantage for them in the market. They have built their brand image first and then they will be able get their preferred market share. So, as a new company it will be very difficult to get the market share of Coca-Cola or Pepsi.
•
Lack of experience in sub-continent market: Bangladesh is the first country to
experience RC COLA. RC COLA launched their product back in 1999. Bangladeshi market is the largest market in the sub-continent.
•
Lack of familiarity with wholesalers and retailers : Wholesalers and the
retailers play a major role in the soft drinks industry. The key to any successful soft drinks company is how it manages its wholesalers and retailers. RC COLA has no prior experience in Bangladesh that will give them a hard time in choosing its wholesalers and retailers. They could very easily choose a wrong one and suffer badly. If they make a mistake in this field then it would be very difficult for them rebuild.
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Moderate market commitment: The commitment to the soft drink of RC COLA
is moderate compare to Coca-Cola and Pepsi. RC COLA has three businesses and the newest of them is the soft drink company. So, there market commitment is obviously lower than their competitors, which could hamper their goal achievement process.
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Opportunity •
Big market: The Bangladeshi market is one of the biggest in the world. The
middle class consists of 200 million, which is huge. It would be a big profit for RC COLA even if they can capture a small portion of that market. Soft drink is something that consumed by almost all class of people. So, the market potential is very attractive.
•
Augmenting GDP : GDP of Bangladesh is increasing due to economic expansion,
open market policy, industrialization and educational development. Economists all over the world are suggesting that Bangladesh would become a bigger market in near future. So, it’s a great opportunity for RC COLA to expand its market and product line.
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Increasing number of population: The number of population is increasing at a
higher rate in Bangladesh. And as we have said earlier, that soft drink is consumed by virtually everyone so it is an opportunity for the company. Once RC COLA establishes itself in the Bangladeshi market it could be the main market for their product.
•
Expansion of product line: RC COLA could expand its product line in
Bangladesh. There are many domestic tonic drinks in Bangladesh that is widely consumed by the population. So, RC COLA’S R & D department could invent a new flavor and add that in their product line.
•
Further reduction of cost in the value chain : RC COLA integrate the
Bangladeshi and Indian market to create an integrated value creation process. This would help them cut down cost in both the markets. .
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Threats •
Tough Competitors : Competitors like Coca-Cola, Pepsi are already established
themselves not only in Bangladesh but also all over the world. People associated Coca-Cola and Pepsi with soft drinks very easily, which is very important to achieve. This association factor will give RC COLA very hard time in gaining the market share. Coca-Cola and Pepsi could very easily drive them out of the market if they are not careful. •
Current world situation: The war in Iraq has raised a worldwide protest form
consumers. Consumers all over the world are angry about England and America. RC COLA is an English company so consumers might boycott it because of the Iraq war. All the American products are facing this problem especially Coca-Cola and Pepsi. •
Domestic Companies: Bangladeshis by nature are very patriotic. Most of them
like to use Bangladeshi products. Domestic competitors like Thumbs up and other tonic drinks companies could pose serious problem for a new company like RC COLA. They could also run anti-war campaign to get consumer preference, which would be very harmful for a new product like RC COLA. •
Volatile Political Environment: Politics in the subcontinent is used very badly.
Bangladeshi political environment is also very volatile. The foreign companies face many problems in operating their business. It is very difficult for any new company to go there and market their products. The bureaucracy of Bangladeshi government will make it harder. It is very difficult to get the acceptance of the government for any new venture. So, RC COLA could face problems in its operation because of this volatility and bureaucracy. •
Sub culture: Bangladesh is famous for its culture. It is a very big country and
there are many sub-cultures in Bangladesh. They like totally different things and anything offensive to their culture makes them angry. So it would be a big challenge for RC COLA to reach all of them.
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TARGET MARKET The target market segment for RC COLA beverages in Bangladesh is as follows:
•
Age
: 12 – 30 years
•
Sex
: Unisex; Females especially for RC Diet
•
Location
: Urban (primary) and semi-urban (secondary)
•
Monthly Income
: Tk. 5000 and above
•
Occupation
: Students and young professionals
•
Social class
: Middle, Upper middle and Upper
•
Life style
: Trendy, semi-traditional, sometimes antisocial
•
Personality
: Extrovert, fun-loving, irrelevant, open minded
PRODUCT MARKET RC COLA follows undifferentiated marketing. Their target consumers are people belonging to the age group of 12-30. For diet RC cola their target consumers are young ladies and health conscious people. Though they have different target consumers, they advertise considering all consumers as one group. For RC products, they advertise mainly in television. They also advertise in Newspapers, publish posters and stickers. They advertise in Newspapers and publish posters.
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MARKET RESEARCH Market research is the systematic design, collection, ana lysis and reporting of data relevant to a specific marketing situation facing an organization. Companies use marketing research in a wide variety of situations. For example, marketing research can help marketers assess market potential and market share, understand customer satisfaction and purchase behavior and measure the effectiveness of pricing, product, and place and promotion activities.
RC Cola research their market based on the primary data. They scrutinize their information mainly by their sales person. However sometimes they gather the information from their retailer and wholesaler. They follow the exploratory and descriptive research, because they gather the preliminary data that will help to better define problems and suggest hypotheses. They collect the primary information by three stages .The steps are –
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Observation
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Survey
•
Experiment
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MARKETING GOALS AND OBJECTIVES Their objectives are to provide with better quality product in competitive price. They mainly focus on customer benefit. Their goal is to be the number one in the competitive market and they want to be the market leader. They are also looking for product diversification. So to be the market king they are going to introduce many new product lines in near future. They want that their competitors follow them but they don’t want to follow them. Their target sell is 2, 00,000 units per month. Because of their limited production capacity they are unable to utilize their competitive advantages. It also hampers their marketing goals because lack of additional supply meets customers’ dissatisfaction & they derive themselves from making new contracts with them.
This objectives and goals can be achieved by developing marketing strategies. To achieve the objectives and goals, increasing sales or reducing costs can improve Profits. Improving the company’s share can increase sales. RC Cola might increase its products’ availability and promotion. In this way, RC Cola’s mission can be translated into a set of objectives for the current period.
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MISSION “Their mission is to provide value at an economic cost, progress in diversity, and continue to contribute to the growth of industrialization in Bangladesh by being the market challenger” In 1994, Mr. M. A. Hashem, Chairman of PARTEX GROUP visited an International Trade Exhibition in the US, where he happened to meet the executives of ROYAL CROWN COLA CO. INT. From then on he started conceptualizing the idea of “RC” beverage brand in Bangladesh. With international brand name recognition and quality he expected that it would gain acceptability in the Bangladesh market. When he returned, Partex as well as RC International carried out a wide range of marketing research. After positive results, in 1996, the Corporate Head and the Directors formed Partex Beverage Ltd. Mr. Ashfak Aziz (Rubel), one of the pioneers of the concept of RC, was given the position of Managing Director. Funds worth Tk. 10 Crore were raised as part of Equity from the Group. Although registered as a Public Limited Company, no public offerings have been made as yet. The factory was setup in Rajendrapur, 40km away from Dhaka city. The company commenced commercial production on 6th October 1997, and RC was launched in Dhaka on 20th October 1997. This is the story of how Partex Beverage Limited became the sole official bottler of Royal Crown Cola Co. International. Now it has been almost 3 years since then, and a number of new products, in new and innovative packages have been introduced to the market. Partex Beverage has also introduced RC outside Dhaka into unexplored markets. We are proud to say that we have stuck to our mission and are now worth over Taka 80 crore (US$ 16 Million).
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Marketing Strategy Marketing strategy is the logic by which the business unit hopes to achieve its marketing objectives. It consists of specific strategies for target markets, positioning, the marketing mix and marketing expenditure levels. In this section, the planner explains how each strategy responds to the threats, opportunities, and critical issues spelled out earlier in the plan.
Factors to Consider Potential market size: It often provides a fascinating picture of changing lifestyles and social history. An increasing number of consumers who includes the new generation people, want to try new things every day.
Current feasibility: There is always the option of doing nothing and allowing competitors to take over so valuable resources can be redeployed elsewhere.
Competitor capability: Global markets have added considerable complexity to this dimension as rivals can now literarily come from any direction. Can they make it good, better, etc are there new entrants poised to come in with bigger and better ideas.
Customer wants: Customer satisfaction is the main obsession for a beverage company. For this reason a beverage company have to have a strong strategy to meet the customer wants.
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As Per RC Cola On the basis of market size and current feasibility, RC Cola is developing their market strategy in a very careful way. In Bangladesh, as they are mainly competing with Pepsi and Coca –Cola they are marketing their product in various shapes and colors. As their target consumers are people belonging to the age group of 12-30 they are making can, pet bottle etc. For diet RC cola their target consumers are young ladies and health conscious people. They are very cautious about the fact, which is “What the customer want?”
Market segmentation Market segmentation is dividing a market into distinct groups of buyers with different needs, characteristics, or behavior who might require separate products or marketing mixes.
Levels of market segmentation: Following are the levels of market segmentation:
Mass Marketing: Companies not always follow target marketing and market segmentation. They follow mass marketing-mass producing, mass distributing and mass promoting about the same product in about the same way to all consumers.
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Segment Marketing: Isolating broad segments that make up a market and adapting the marketing to match the needs of one or more segments.
Niche Marketing: Focusing on sub segments or niches with distinctive traits that may seek a special combination of benefits.
Micro marketing: The practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations-includes local marketing and individual marketing. Micro marketing includes local marketing and individual marketing. ♦
Local Marketing: Tailoring brands and promotion to the needs and wants of local
customer groups. ♦
Individual Marketing: Tailoring products and marketing programs to the needs and
preference of individual customers- also leveled ‘markets-of-one marketing,’ ‘customized marketing’ and ‘one-to-one marketing’.
Bases for Segmenting Consumer Markets: The following are the bases of market segmentation:
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Geographic segmentation: Dividing a market into different geographical units such as nations, states, regions, countries, cities, or neighborhoods.
Demographic Segmentation: Dividing the market into group based on demographic variables such as age, sex, family size, family life style, income, occupation, education, religion, race and nationality.
Age and Life-cycle Segmentation: Dividing a market into different age and life cycle groups.
Gender segmentation: Dividing a market into different groups based on sex.
Income segmentation: Dividing a market into different income groups.
Psycho graphic segmentation: Dividing a market into different groups based on social class, life style, or personality characteristics.
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Behavioral segmentation: Dividing a market into groups based on consumer knowledge, attitude, use, or response to a product.
Occasion segmentation: Dividing the market into groups according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.
Benefit segmentation: Dividing the market into groups according to the different benefits that consumers seek from the product.
As Per RC Cola RC Cola follows segment marketing and geographic segmentation. Their geographic segments are greater Dhaka, greater Chittagong, greater Noakhali and Comilla. RC Cola has own distribution network. But now RC Cola is willing to shift to mass marketing. They intend to use the Danish distribution network for this purpose.
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Market Positioning Definition of product position is “The way the product is defined by consumers on important attributes-the place the product occupies in consumers minds relative to competing products”. To achieve higher positioning companies must gain Competitive Advantage. Competitive Advantage is “ An advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices”.
Positioning begins with actually differentiating the company’s marketing offer so that it will give consumers more value than competitor offers do. A Company or market offer can be differentiated along the lines of product, services, people or image.
Product Differentiation: Differentiation of physical products takes place along a continuum. Companies can differentiate their products on attributes such as— consistency, durability, reliability, reparability, style, design, performance etc.
Services Differentiation: In addition to differentiating its physical products, the firm can also differentiate the services that accompany the product. Some companies gain competitive advantage through speedy, convenient or careful delivery. Installation and repair services can also differentiate one company from another.
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People Differentiation: Companies can gain a strong competitive advantage through hiring and training better people than their competitors do. People differentiation requires that companies select its consumer-contact people carefully and train them well.
Image Differentiation: Even when competing offers look the same, buyers may perceive a difference based on company or brand images. Thus, companies work to establish images that differentiate them from competitors. A company or brand image should convey the products distinctive benefits and position. Symbols can provide strong company or brand recognition and image differentiation. Companies design signs and logos that provide instant recognition.
As per RC Cola RC products gained competitive advantage by good taste and Competitive price. They also used all differentiation methods effectively. RC introduced PET bottle for the first time in Bangladesh, which was a revolution in the soft drink market. They also introduced Cloudy Lemon flavor for the first time in our country.
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Marketing Tactics
Product
Price
Varity Packaging Quality Service Design Feature Brand name
List price Discounts Allowances Payment period Credit items
Target Customer
Intended Positioning
Promotion
Place Channels Coverage Locations Inventory Logistics
Advertising Personal selling Sales promotion Public relations
Figure: four Ps of the marketing mix
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Marketing mix is the set of controllable tactical marketing tools-product, price, place, and promotion-that firm blends to produce the response it wants in the target market. The four P’s theory is implemented as per RC Cola in below-
Product: Product means the goods and services combination the company offers to the target market. Thus it means that, the variety, quality, design, features, brand name, packaging, services all matters to make the marketing mix successful. In this case RC Cola made their drinks unique in size, quality, design- like pet bottle, packaging.
Price: Price is the amounts of money customers have to pay to obtain the product. Price is a very intense situation where it can either garb the main part of market share or it cannot be successful in doing so. In this situation RC Cola is following a thoughtful tactics. They are pricing their drinks in a competitive way. Though they are spending a big amount of money for the packaging and features, they are setting a competitive price to attract the market.
Place: Place includes company activities that make the product available to target consumer. It includes the channel, coverage, assortments, locations, inventory, and transportation of the product. RC Cola is making their product available not only in the big cities but also in the rural villages. RC Cola has own distribution network. But now RC Cola is willing to shift to mass marketing. They intend to use the Danish distribution network for this purpose. They had their own transportation facilities. They have over 200-distribution channel to make their product available in the whole country.
Promotion: Promotion means activities that communicate the merits of the product and persuade target consumers to buy it. To achieve promotional plan they have chosen the following objectives:
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SALES PROMOTION
•
They have increased their budget on advertising.
•
The viewing of prime time television has dropped considerably, as people remain busy in heir job during prime time.
•
It increases the share and volume of product.
CONSUMER SALES PROMOTON
•
It sometimes offers price reduction during RAMADAN and in winter when he demands is not too high.
•
They have plans to arrange contests and sweepstakes to increase sales.
•
They also arrange different concerts and jukebox.
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It prefers to go for continuity program.
•
They also offer specialty advertising. Here the company offers free calends, pens T- shirts.
RESELLER SALES PROMOTION
•
It offers bonus to the sales person based on units sold over a period of time. Which will stimulate sales.
•
They also offer the retailers or wholesalers discounts or cash money to get their product special displays, superior store location.
PUBLIC RELATION
• •
They have a plan in doing corporate advertising (no attempt to sell product). They can send speakers to talk with different people about their feeling about the product.
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ADVERTISEMENT
RC COLA follows mass marketing. In promotion they mainly focus on advertising. In advertising they include:
•
Newspapers
•
Electronic advertisement
•
Sponsoring
•
Billboards
•
Banners
•
Organize charity programs and events.
They
broadcaster
some
wonderful
advertisements
in
TV
media
like
“NIRBACHONER GOROME RC KHAN ARAME” and “ EID HOILO DUIKHAN ………. BHAISAB RC COLA KHAN” Which helps them to reach to the rural people and million of consumers. And their recent TV advertisement, “O SUNDORI TOMAR JONNO ANCHI DEKHO……….” Helps them to attract the young consumers.
Creative planning
Creative planning is the construction of a message of an advertisement and the purpose of the composing of that particular message for that advertisement. RC COLA have always supported the development of an advertising message and a slogan base on our targeted customers whom are people of all ages but significantly the young aged people. The logics, which were effective behind building this message and slogan, are furnished below:
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Message strategy
RC COLA is a low - involvement product. So, people give little attention and less time for this kind of products. Moreover, as they have emphasized more on the young generation, they are extra cautious. As we know, young people generally have less patience; they don’t want to spend time on advertising. That’s why; they have taken an aggressive approach with a sense of deep emotional touch. Their message is for their wide variety of products. And their slogan is more influencing, “THE FREEDOM OF CHOICE”. Here, we can see that, the message and slogan not only focusing on the brand name but also taking about that emotional aspect which has been always occurring in peoples’ minds.
Selling premises
Selling premise is a key function in an advertising message. Because, it identifies the selling logics behind a message for which the message will be able to achieve its objective, which is sales. Selling premises can be categorized as either product-centered or prospectcentered. For RC COLA, we have chosen the product-centered strategy. As we know, product-centered strategy focuses on the product itself in the advertisement. So, RC COLA talks about its product’s features in their advertisements in a way that helps the audiences or readers not only to know about the product but also to compare with other soft drinks manufacturers. RC COLA has eight different flavors of soft drinks in the market for their consumers, which is a great advantage over its competitors, as they don’t have such a variety of flavors. RC COLA has been fully utilizing this benefit over its rivals. Another feature they use in their advertisements is “less cost”. Product-centered strategy has to backed by claim, which is just what you offering to your consumer. RC COLA is offering freshness of mind, as they mentioned that your life would be more colorful than ever before the moment you take a drink of RC COLA. Everyone knows life is critical, but RC COLA says that you will feel agile and optimistic whenever you take RC COLA.
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Market Implementation and Control To achieve both market objective and organization objective manager must effectively control market and it can be achieved by following steps
Establishing performance standard.
Evaluating actual performance by comparing it with the established standard.
Taking corrective actions.
To control the market RC Cola is following some functions and these functions are mainly prepared based on the next three years projection. The Functions are described below-
Transportation:
Transportation is a very crucial function for a company to achieve their goals, because without proper transportation system a company can never reach to its consumer market. In this case RC Cola is doing extremely well and they have already prepared their transportation channel plan for the next three years.
Financing:
To control the market a company must have the efficient finance state, which RC Cola already have. Without the proper finance state a company can never rule the market.
Market research:
Marketing research can help marketers assess market potential and market share; understand customer satisfaction and purchases behavior; and measure the effectiveness of pricing, product, place and promotion activities. RC Cola does their marketing research on the basis of primary data, which they get from various agents.
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Negotiation:
The main objective of negotiation is to negotiate with the people by determining their need and wants and imply that to the available good in the market.
Selling:
To sell their product RC Cola is willing to take short-term risk like distributing their drinks to the retailers on credit.
Promoting:
RC Cola is willing to promote their product in 2 types. These types arei. ii.
Advertising internationally Attracting people by alternative policy.
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