The Marketing Management Process
The mission statement needs to be designed in the way, where there is an identification of the business and customers and products and services. However, the business image is conveyed to the customers, the mission also defines the differentiation from the competitors.
The mission, vision, and values of Coca-Cola are brilliant because the company is focused on the mission to refresh the world; there is focus on the optimism and happiness. Coca-cola is creating value to make a difference in order to achieve the sustainable growth in the market, there is focuses on the quality growth and to provide the quality beverage to the customers. Moreover, the values of the company identified the leadership, passion, diversity, quality etc (Coca-colacompany.com, 2017).
However, the mission vision and values of Pepsico, define that it is the largest food and beverage companies in the world, their mission is to create the delicious food at the affordable prices. Moreover, the vision of Pepsico is to get the success and sustainability by leaving a positive impact on the society, they are focused on to support the communities (Pepsico.com, 2017).
Both the companies are has focused on the mission and vision in the better way, as both the companies discuss all the aspects that are important for the customer to know before buying the products from the desired brand. However, Coca-Cola has defined the mission and vision in the better way values and diversities are concerned. Thus, Pepsico needs to identify its customers in the better way like Coca-Cola in order to create a better value of the business in the customer’s mind.
Marketing Research Process And Systems For Decision
Secondary Data Research And Social Media Monitoring
Mylan CEO Bresch is focused on the pricing of the lifesaving EpiPen device that is selling at higher retail cost or price of more than the $600. In a channel, CNBC’s there are the high price for EpiPens and based on the reasons the company is leading to higher premiums prices and there are the problems of satisfying the customers because in recent year process of EpiPen has increased by 400% (Tuttle, 2016).
Mylan in order to focus on the long-term strategies and for the rejuvenate of the company need to focus on the research plans as there is controversial pricing in the market, in the recent year by changing the government. However, the research is needed to be conducted in the market, example the target customers need to be asked that if the pen is affordable for them because it is the need of the patient. Through secondary research, example doing the analysis of the competitors and doing research on the internet example through reviewing the comments of customer that they posted regarding pricing of EpiPen on social media the company could know about that what pricing can be given.
The company in this way, need to do the collaboration with the policymakers and the health care professionals because there are the needs of an EpiPens in the market and the company needs to provide the pen to the customers at reasonable prices. Consequently, a company can lower down the prices of EpiPen for rejuvenating of the company so that there could be the benefits for the customers.
Report On New Business Investment
An investor who wants to start a project on the luxury kitchen, and need to give dining facilities to 30 people in the Hill Section of Scranton should focus on the target market. The business decided to give the facilities, services, and food to the universities and colleges’ students’ example, millennial is the there target group. Therefore, the company decided to give quality food at reasonable or cheap pricing because a student cannot afford to get the food at the higher pricing.
Decision Of Consumers
The investor needs to do research on the project so that the business could be start up in a good way, however, the decision on targeted customers as the students of universities and colleges are good because in Hill Section of Scranton there are institutes. The environmental impacts need to be for better services as planning is focused on millennial age group or the students do not have the excess money to spend on food so there can be better opportunities to provide the food at the reasonable or affordable cheap pricing. The food should be innovative as good taste need to be given to the students.
Discussion Of Alternative Research/ Impacts
To open the restaurant near Hill Section of Scranton can be beneficial and there can be the positive impacts in the market if the company need to decide on the alternative plans, example, through word of mouth and electronic word of mouth the students can be motivated to get the food from the new restaurants. Negative impacts can be there on the business if the investors do not follow the market trends and do not decide on the efficient pricing.
- Coca-colacompany.com. (2017). Mission, Vision & Values. Retrieved May 11, 2017, from http://www.coca-colacompany.com/our-company/mission-vision-values
- Pepsico.com. (2017). People. Retrieved May 11, 2017, from http://www.pepsico.com/Purpose/Performance-with-Purpose/People
- Tuttle, B. (2016, September 21). Why the EpiPen Price Scandal Sums Up Everything We Hate About Big Business & Politics. Retrieved May 11, 2017, from http://time.com/money/4502891/epipen-pricing-scandal-big-pharma-politics/