Pricing strategy used by Coca-cola★ Cost-based pricing○ Cost of individual products to produce a cost base○ Effective, but unsure whether profit is maximised★ Market based pricing○ Assesses customer perceptions○ Discovers whether operation is profitablePricing★ A direct effect on sales revenue★ Links to profits★ Higher price = less sell★ BUT earn more from what you sell★ Similar offerings from competitors★ Set the price fairly straightforwardContinued….★ Coca-Cola set price similar to rivalry★ Price must not be too low or too high★ Pay attention to what competitors are doing★ Don’t let competitors to set the price★ Have its own opinion to reflect current situationsCoca-Cola vs PepsiCustomers segmentation & targetingMarket segmentation is the process of dividing distinct sub-groups (target segments) of buyers tha tu pre athcet dmiffaerrkeentt lyin ttoo different marketing.cTaatregre tfionrg tihse tshee pdrifafecrtiecnet osf ecgrmeaetnintsg, doifrfe rcehnocoessi nign tnhoet mtoa rkseetirnvge msioxm teo segment.Recommendation & outcome★ Introducing new products – Health and wellness★ Attracting new customers – Drink healthy★ Difficult to set price for new products★ Minimal information and uncertainty to predictcustomer perceptions★ High price – Customer may not want to buy★ Low price – Revenue may suffer★ Price -benefit positionTypical bases for consumersegmentationDemographics: age, gender, income, occupation, education,family size, geographyPsychographics: attitudes, opinions, activities, personality,lifestyle, interestsBehavioural: usage rate, main brand, media usedOther: occasions, situation, benefit soughtIs young adultsthe rightcustomersegment?Yes!They are former customers.The segment are measurable,substantial and targetable.ApproachDemographics
Teenagers
Young adults
MillennialsApproachPsychographics
PersonalisedexperienceRecommendations★ Develop on different types of products, such asflavoured drinks or Coca-Cola zero.★ Print names of famous people who have socialinfluence on millennials in AustraliaIn conclusion…ReferenceCoggle, 2020, Pricing strategy Coca Cola, Coggle, viewed 28 April 2020, < https://coggle.it/diagram/WlY0xBImdAABHzSS/t/pricing-strategy-coca-cola>.Jindal S. 2017, Coca Cola Pricing Strategy, LinkedIn, viewed 25 April 2020, <https://www.linkedin.com/pulse/coca-cola-pricing-strategy-shashank-jindal?src=aff-lilpar&veh=aff_src.aff-lilpar_c.partners_pkw.123201_plc.adgoal%20GmbH_pcrid.449670_learning&trk=aff_src.aff-lilpar_c.partners_pkw.123201_plc.adgoal%20GmbH_pcrid.449670_learning&clickid=Ty%3A0fCU4zxyOWhhwUx0Mo3k3UkizC3y8xR7Xxs0&irgwc=1
.Moye J. 2016, Share a Coke – How the Groundbreaking Campaign Got Its Start ‘Down Under’, Coca-Cola Australia, viewed 20 April2020, < https://www.coca-colacompany.com/au/news/share-a-coke-how-the-groundbreaking-campaign-got-its-start-down-unde r . Sharp, B 2017, Marketing Theory, Evidence, Practice, 2nd Edition, Oxford University Press, Australia. The Coca-Cola Company, Brands, Coca-Cola Australia, viewed 20 April 2020, < https://www.coca-colacompany.com/au/brands>.Woolworths, Coca Cola, Woolworths Australia, viewed 25 April, 2020, <
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