Chapter 4: The Marketing Environment

 Marketing is the most important thing in a business. It is what makes the business grow stronger and compete with it's competitors. Social media is becoming very important for businesses to get new customers and attract new people. Facebook is a great way to do so. It attracts new customers, and it advertises their product to the people that stay connected to the internet world. For example, my company, "Coca Cola" has over 73 million likes on facebook which makes them very popular. People are directly or indirectly the basis of all markets, making population the most basic statistic in marketing. "Coca Cola" reaches out to all customers, from young kids to the elder. People spend so much money buying new products and innovative things. The ethnic market is changing over the years, there are so many hispanics in the U.S now than there ever was. The poulation is changing so much that some states white is already minority. These states are: Arizona, Florida, Georgia, Maryland, Mississippi, and Nevada. The consumer's purchasing power depends on how much their income is. If a a household doesn't have a high income, they will not buy items that they want, but only items that they need. That affects the company, and it's income as well. Political and legal factors are also crucial to a company. There are laws and restrictions that companies have to follow otherwise they will be punished, be given fines and sometimes even harsher decisions made by the government.

Chapter 3: Ethics and Social Responsibility

In order for customers to be satisfied, the company has to be honest with their customers This is all about ethics. Being honest can take you various places, very good places. People start to trust you more, and more and become a regular customer since they now they have their trust in the company. It's like a contract between the cuctomer and the company. The company will be honest with the customer in order for the customer to be a regular to them. "Coca Cola" for example has to be honest with their customers, customers need to know about the product, how it is made, what it is made of among many other information on the product. Being socially responsible is also a big role for companies. "Coca Cola" has been involved in many social responsibilities such as, a project called "Ocean Cleanup" which is great for the environment and helping earth become a better place, also stopping the furher extinction of some animals that could be harmed by the garbage around the oceans. They also provided drinking water to more than 60 million americans. "Coca Cola" signed a contract with the U.S Department of Agriculture (USDA) in order to restore natural resources to provide water for many americans. Green Marketing is also very important for the environment and it makes companies look friendly with the environment, which is becoming very popular amongst many companies. Recycling is a big part of it, and "Coca Cola" is trying to do it's part in it by recycling used bottles, and cans that were purchased by previous customers.

 

Chapter 2: Strategic Planning for Competitive Advantage

"Coca Cola" has had its main product out for a while, which is the regular coke beverage. But in order for the company to make profit and expand into other countries and reach new customers it needs to come up with something new. Like every company, when it comes out with a new product and it reaches the customer, it could be a great investment or a fail. A company always needs some other product  to back itself up. "Coca Cola" for an example, had created many different flavors with their main product. For example, "Coca Coca Cherry", "Coca Cola Lime", "Coke Zero", "Coca Cola Vanilla", among many others. This type of investment gets the customers attention and even new customers could start using the product. This is a way of reaching to new customers and making more profit. Now some products of the company are considered stars, they are the company's main product and the product that brings in most money out of all products, but they need a lot of cash to be started. There are also dogs and problem child , which are products that were introduced to the market but it hasn't really satisfied the customers and will have to be "thrown out" of business. It is very important to plan how the product will be introduced to the public and, and how its going to affect the business. Companies need to set a competitive advantage to their competitors. Introducing new products that only your company will make is a great way to take an advantage on others. If you are the only one manufacturing certain products, you will have no competition and all the profits will be yours. Businesses need to figure out how to make a difference, not only make new products because competitors will always come back at you with a new product as well. Implementation of the product is crucial to the business. It is very critical that the product is introduced the right way to the market otherwise it could be a big fiasco and the company only wasted time and money which is essential nowadays in business.

Chapter 1: An Overview of Marketing

The "Coca Cola" recipe was first created at the Eagle Drug and Chemical Company, which was a drug store in Columbus, Georgia by the man named, John Pemberton. It was first introduced to the market as a patent medicine at a very low cost, only 5 cents for a cup at the soda fountains which were very popular in the 1880s in the United States. The creator of Coca Cola believed the drink cured many diseases, such as, morphine addiction, dyspepsia, neurasthenia, headache and impotence. The first advertisement of the beverage was on May 29, 1888. The name "Coca Cola" was established by John Pemberton. Many other Atlanta businessmen were using the same formula for the drink and tried to bring Mr. Pemberton down. Later on, after John Pemberton's death, a man Asa G. Candler bought the recipe from John's wife and started to produce the beverage on his own. It is said that he bought the rights for $300 from Mr. Pemberton's wife at her husband's funeral. Candler now owned "Coca Cola" after about a year, with a total investment of $2,300 in the company. The first time Coke started being manufactured in bottles was in 1891 in Vicksburg, Mississippi. The first outdoor advertisement for "Coca Cola" took place in Cartersville, Georgia in the year of 1894. Later on, Coke was even certified kosher after some ingredeients were changed. By July 12, 1944 the one billionth gallon of "Coca Cola" syrup was manufactured making it a big deal for the owners of the beverage. Coke cans weren't introduced until the year of 1955, much after "Coca Cola" had been already established and well known all over the U.S. "Coca Cola" mission statement was and still is to refresh the world, inspire moments of happiness and optimism and to create value and make a difference in the world.