Regardless of what business you are doing, marketing is essential for all those who runs profit oriented organization. You are doing a business and spending money on marketing, is your job done now?
If you think this is enough to get success in business, then if and but come in the picture.
What if your marketing strategy is not efficient and you are not reaching to the target market?
How will you get to know that where you are lacking?
One single answer of all these question is marketing evaluation. In order to evaluate or calculate your marketing, study of marketing evaluation provides many tools and marketing matrix is one of them. Marketing mix helps a company to measure market through quantifying, comparing and interpreting the market data.
Coca cola is one of best example which has changed its fortune by implementing marketing metrics.
For Coca Cola, it all began in 2009 when they chose to outsource their procurement and accounts payable functions. Quite quickly they realized it wasn’t working and brought both functions back into. But why wasn’t it working? And what actually did satisfy their customers?
In 2009 when coca cola decided to outsource their procurement and accounts in order to boost the sale, they realized that it is not working and brought both functions back into.
The question here is why did not it work? And what actually satisfies the customers?
Therefore, Coca cola had decided to conduct a survey.
The survey showed an average of 2.6 out of 5 customer satisfaction rating for North America and 2.1 out of 5 rating for Europe.
Coca Cola conducted extensive research with their customers to find out what exactly satisfied them and they found that they are lacking with service and distribution channels.
So what were their key success factors in tackling the elephant in the room that is customer satisfaction?
Customer preference is a core value of coca cola. For coca cola, customer preference means establishing loyal partnerships that create long term and profitable growth for both company and customers.
Coca cola consider preferred supplier primary customers which are hypermarkets, supermarkets, petrol stations, cinemas, hotels and cafes, among others.
Availability: coca cola places their product within easy reach of consumer, in the right location and at the right time.
Affordability: It offers a wide variety of desirable product with quality and keep packages appropriate for the occasion with affordable price.
Coca cola is not a single entity; it is a sort of franchised operation. It has people in Atlanta who take care of the brand and overall marketing. Each country has its own bottler or can say bottlers. Coca cola follows manual distribution center (MDC) model, which operates within densely populated areas e.g.; around metropolitan cities and large towns. The MDC model works very well in densely populated areas where manual onward distribution is feasible due to the short distances involved.
But by ensuring that the data collected was actionable as well as informative, overall Coca Cola were able to pull this up in just two years to average results of 3.12 and 3.15 for North America and Europe respectively. “When you fix and improve customer satisfaction, employee satisfaction goes up too”.
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