Experimental Marketing and Customer Relations Assignment Sample
Experiential Marketing is a process that has been integrated into the functioning of a large number of organizations in the business sector to develop a good involvement of the customers in the product base of the organization. This kind of marketing process is attributed to the functioning of developing an important market to deliver an effective iterative session in addressing the market. The development of the functions in the sector of deriving certain functions in the market stature that cannot be measured by the economic returns of such programs (Ng et al. 2017). Therefore, these kinds of functions of a large firm are seen as a process to develop a good relationship with the market. The present study has been identified as a prospect that discusses several areas in the functioning of one of the organizations that have attended high success in the market in terms of engaging the market holders with their products. This is a stature identical to introducing certain similar functions that can be liable to hold the market segments that are targeted as the potential market.
The Coca-Cola Company is the firm that has been chosen for the development of an assessment of the prospects under the terms of defining customer relations through the development of certain kinds of operations in the market stature. The organization that is Pepsi-cola is known for launching their second most recent program in the sector of producing certain philanthropic functions. This program was titled “Be Social, have a Pepsi” and was rolled out in various regions of the world that welcomed a large mass by sending mass information as an invitation to join this program. The program was put into stance to spread a noble cause of supporting social causes. The rolling out of the program titled Be Social, have a Pepsi had been fruitful as it was able to dedicate a large sum of money, which amounted to 20 million Dollars. This large amount of money had been provided as donations to various local organizations for the development of certain operations that had been largely proposed by the public (Shobeiri, Mazaheri, and Laroche, 2014). The events were like helping in the realms of arts and culture, health, education as well as environment. Therefore, they have encouraged the target audience and the target market to have an experience of the services of their products (different products at different times) without directly going into the buying and selling relationship with the organization or the business.
Another recent event that has been rolled out by the organization that is Pepsi-cola is termed with a project name called Pepsi Refresh Project. This project was rolled out by the organization that is Pepsi-cola in the year 2010. The project has aimed to develop a fund of about 20 Million dollars at the end of the year. This sum of money had been dedicated to social and noble causes but not to the profit revenue of the organization. The large sum of the grant was provided to individuals, various businesses, may it be profit or not-for-profit organizations, or businesses for the development of effective causes for the community. The main of the project was to have a positive impact on the state, the community, or the nation as a whole. The focus of the program which was named the Pepsi Refresh Project was to derive and welcome ideas from different sections and parts of the society that would be fruitful for the development of any part of the state or the nation (Wu and Tseng, 2014). Besides, the project has been kept completely separate from the Pepsi corporate foundation. Moreover, the fund that was required was provided by the budget that was fixed for the marketing section of the company or the firm. Therefore, the organization that is Pepsi-cola has considered the conduction of these kinds of events the marketing stance for the propagation of the brand name. Therefore, these kinds of operations and activities of a profit organization or business have been termed as the Experiential Marketing process. Hence, this is a tool that is usually used by a firm or a business to develop an effective integration with the target market, or rather the target audience, that would promote the brand to a greater number of audiences both the national as well as the international stature. Therefore, brand recognition is an underlying aim of the conduction of such functions by a business (Rajaobelina, 2017).
The initial stature of the organization has been represented by the development of a website that welcomes ideas from various parts of the world in the online platform and accepts them. The difference that was maintained by the organization is that it did not require any kind of expertise in the writing skill that was majorly demanded by the philanthropic and federal organizations. The firm declared that the first 1000 ideas would be accepted by the website and the proposals or the ideas that would be best for any kind of development to the society or the community would be awarded. Small or local businesses that are socially beneficial, not-for-profit organizations as well as individuals were allowed to participate in this kind of functions. For the seven months the portal or the website and the scheme was functioning the company let go the award of about 5 thousand dollars, 25 thousand Dollars, 50 thousand Dollars, and 250 Thousand Dollars to any of the participants that have participated in this event. Thus, the large response of the market is provided by the large mass in terms of developing contributions to the category. The rapidity of the response is directive on the stances that the website had collected 1000 ideas in the first week of the first month of functioning that rolling out of the event (Cova, Pace and Skålén, 2015).
The organization that is PepsiCo not only developed such a stance but also has contributed to developing funds for several causes that were noble for the development of the functioning under their Pepsi Refresh Project. The organization has developed the functioning in the development of an effective recognition in the market. The market development has been intensified with the stances that the people that is the individuals as well as the small-scale and not-for-profit organizations have benefitted from rolling out such programs in the market stature. Derivation of such functioning can be attributed to the development of the concept that can be integrated through the development of philanthropic activities in the market (Dosé, T. and Åström, 2017). The success of the organization has been developed under the stances to ensure that there are aspects that have been aggravated by the company or deliver an integrated functioning in the reliance of such attributes. A huge response has been received by the organization as a large number of people have participated in the same.
However, several arguments have been forwarded after a proper evaluation of the functioning. The event of PepsiCo's Pepsi Refresh Project came to an end in September in the year 2010 as a result of a variety of criticism that was forwarded by critics and experts. It has been found in the statute that organization was implied of certain main objectives of the organization. The organization had to drop the idea of such activities after 10 months of functioning as it liked to be developed on the stances that it violated their terms that is terms of the company to derive these kinds of functioning. However, the implications and the impacts of the project were high as found by the overall resulting factors of the organization (Chahal and Dutta, 2015). The brand name of PepsiCo had been highly praised at a certain level as it was found to be conducting a noble function to have a two-way profit from the same. Both the benefitting sections were the community and the society that had developed these kinds of functioning in differential terms. The organization that is PepsiCo thus is a way that is a hybrid program of crowdfunding and the loyalty program. Therefore, there has been a constant degeneration of the complete functions in the sector that is likely to be developed as a positive outcome for the nation as well as the community and the individuals (Pencarelli and Forlani, 2018). The development of the concept of power votes by PepsiCo has also been associated with the development of propagating their products to the target market in terms of developing the attributes. Here, the customers are becoming acquainted with the products without actually purchasing them. Therefore, this is an act that is likely to develop a means of promoting the brand as well as the products without giving into direct sales. For more, contact us at 'Assignment Help'.
Chahal, H. and Dutta, K., 2015. Measurement and impact of customer experience in the banking sector. Decision, 42(1), pp.57-70.
Cova, B., Pace, S. and Skålén, P., 2015. Marketing with working consumers: The case of a carmaker and its brand community. Organization, 22(5), pp.682-701.
Dosé, T. and Åström, A., 2017. The Taco Theory- repeated measurement study of the effects of experiential event marketing on brand relationship quality in the FMCG industry.
Ng, S., David, M., Dagger, T., Palmer, A., Koenig-Lewis, N., Leader, D. and Omneya, Y., 2017, January. Session Number; 4.8: Customer Experience. In The Customer is NOT Always Right? Marketing Orientations in a Dynamic Business World: Proceedings of the 2011 World Marketing Congress (pp. 302-303). Springer Cham.
Pencarelli, T. and Forlani, F., 2018. Marketing in an Experiential Perspective: From “Goods and Service Logic” to “Experience Logic”. In The Experience Logic as a New Perspective for Marketing Management (pp. 43-67). Springer, Cham.
Rajaobelina, L., 2017. The Impact of Customer Experience on Relationship Quality with Travel Agencies in a Multichannel Environment. Journal of Travel Research, p.0047287516688565.
Shobeiri, S., Mazaheri, E. and Laroche, M., 2014. Improving customer website involvement through experiential marketing. The Service Industries Journal, 34(11), pp.885-900.
Wu, M.Y. and Tseng, L.H., 2014. Customer satisfaction and loyalty in an online shop: an experiential marketing perspective. International Journal of Business and Management, 10(1), p.104.
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