Many Products are physical objects that you can own and take home. But the word product means much more than just physical goods. In marketing, product alsorefers to services, such as holidays or a movie, where you enjoy the benefits without owning the result of the service. Businesses must think about products on three different levels, which are the coreproduct, the actual product and the augmented product. The core product is what the consumer is actually buying and the benefits it gives. Coca Cola customers are buying a wide range of soft drinks.The actual product is the parts and features, which deliver the core product. Consumers will buy the coke product because of the high standards and high quality of the Coca Cola products. The augmentedproduct is the extra consumer benefits and services provided to customers. Since soft drinks are a consumable good, the augmented level is very limited. But Coca Cola do offer a help line andcomplaint phone service for customers who are not satisfied with the product or wish to give feedback on the products.
Price is a very important part of the marketing mix as it can effect boththe supply and demand for Coca Cola. The price of Coca Cola’s products is one of the most important factors in a customer’s decision to buy. Price will often be the difference that will push a customerto buy our product over another, as long as most things are fairly similar. For this reason pricing policies need to be designed with consumers and external influences in mind, in order to effectivelyachieve a stable balance between sales and covering the production costs. Price strategies are important to Coca Cola because the price determines the amount of sales and profit per unit sold.Businesses have to set a price that is attractive to their customers and provides the business with a good level of profit. Long before a sale was ever made Coca Cola had developed a forecast of consumer...