what methods do they use?
There are multiple philosophies that marketers can follow when developing companies. The Pepsi- Cola Company follows the Marketing concept philosophy which holds that “achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do” (Armstrong, G., & Kotler, P.). So what does this mean?
The Marketing Concept (Armstrong, G., & Kotler, P.)
THE MARKET
THE CUSTOMERS NEEDS
INTEGRATED MARKETING
PROFITS THROUGH CUSTOMER SATISFACTION
I conducted an interview with Ben Knight, a PepsiCo employee and representative for Walmart store 1792 in Saint Mary’s Pennsylvania, during the interview he explained his role in marketing for Pepsi. Mr. Knight is responsible for tracking the sales of all Pepsi products inside Walmart store 1792, stocking products, removing low sale items, building displays, rotating products, and working closely with managers. For Knight to decide which products he will use to build a display, he examines which products have the highest sales in the previous two weeks. He explains that in Saint Mary’s, Mountain Dew has the highest volume of sales; therefore, when PepsiCo produces new Mountain Dew flavors, it is his job to go to the managers and sell them the new product (Knight, B.).
Consider the following question, has Pepsi-Cola adopted a successful marketing philosophy? In 1902, only 98 shares of the Pepsi-Cola Company existed, valued at $10,000 (Stoddard, B).As of April 13, 2014 Pepsi stock prices are $85.45 per share (Google Finance). In 2013, PepsiCo filed their annual financial report which stated United States revenue amounting to $66.4 billion dollars (PepsiCo 2014). It is safe to say that the leaders of the Pepsi-Cola Company made a wise decision while building the foundation of the company, as evident of the amount of yearly revenue.
Today, the Pepsi-Cola Company advertises through many different medians: magazines, flyers, skywriting, commercials both online and on television, billboards, celebrity sponsorship's, radio broadcasting, and many more. Let us begin to explore the ways that the Pepsi-Cola Company advertises their products and the audiences that they target!