Sunday, August 11, 2019
Contemporary Issues In Marketing Essay Example | Topics and Well Written Essays - 2500 words
Contemporary Issues In Marketing - Essay Example Industrial marketing is another contemporary marketing aspect. It entails changing the focus from the end products to capital goods. Industrial marketing utilizes advertising, promotion and communication to consumers in order to increase the sales. In the same way, companies are currently using social marketing as an avenue of generating benefits for members of the society. In order to reach customers regardless of their location, organizations adopt e-marketing that involve use of internet to market their products. This has been achieved through the advancement of technology in the contemporary world. Ethics in Coca-Cola Company Coca-Cola Company maintains corporate governance guidelines that depict the approaches adopted by the company in order to enhance corporate governance that is vital in meeting the needs of its consumers and employees. In order to ensure accountability and transparency in the company, Coca-Cola management team undertakes regular reviews of its system. The rev iew is also undertaken to achieve international ethical practises thus ensuring the company retains its leadership in the soft drink industry. Code of business conduct is one of the major aspects that are adopted by directors, employees and other associates in order to enhance integrity and honesty during the performance of their duties. Any time new directors or employees are hired by the company, they should study and understand the ethics concepts that are covered by the code. In this way, they effectively emulate the required ethical procedures during their duties. The company also has put in place Ethics & Compliance Committee whose responsibilities include administering the Code. Other duties of the... The paper work studies the aspects of social marketing as an avenue of generating benefits for members of the society. In the contemporary world, marketing has been influenced by various aspects that include technology development, customer relationship management, globalization and stiff competition. To ensure that companies remain competitive and the sales volume are increased, it is imperative to ensure that ethical issues are appropriately addressed during the operations of any company. Coca-Cola Company, the world market leader in the soft drink industry has portrayed effective ways of dealing with ethical issues. Despite the criticism that faced the company mostly from India, Coca-Cola has not been left behind as far as undertaking social responsibilities is concerned. This has resulted to creation of strong customer-company relationship which has seen the company sales increase over the years. Another essential marketing aspect that Coca-Cola has adopted is effective segmentat ion of its market. Meeting of its customer needs is an important aspect that Coca-Cola has initiated in its effort to win customerÃ¢â¬â¢s loyalty and trust. This has been achieved through segmentation of its market based on the location and behaviours of its customers among other aspects as depicted in the discussion above. Additionally, Coca-Cola has embarked on various strategies in order to improve its brand awareness. These include extensive advertisement of its brands especially via its website and other avenues.