The European Union segment is the largest revenue segment of the company. (Datamonitor, 2006b). The company recorded revenues of $32,562 million during the fiscal year ended December 2005, an increase of 11.3% over 2004. Public Relations and Publicity: These are a set of communication programs designed to promote and protect the company’s image or its individual product (Kotler and Keller, 2006).. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! If there is an uncertainty in the international market, regulations of environment, it affects the overall business. Mens. To attract younger consumers to its flagship cola, Coca-Cola launched new marketing and ad campaigns in 2003. Business Strategy and the Environment (BSE) is the leading academic journal in its field with peer-reviewed contributions of a high quality. Do you have a 2:1 degree or higher? However, this does not seems to be working evident in Pepsi’s decreasing sales in the UK and the US (Datamonitor, 2006b). Pepsi’s new message says ‘it’s the cola’ which is in synchrony with Pepsi’s tradition of structuring its messages to induce and assert choice over Coke. VAT Registration No: 842417633. It is apparent from the above analysis that the communications strategy of all the three organisations is primarily based on identifying the target audience i.e. While a consumer survey would be required to add credibility to the above statement the analysis and discussion do provide a useful insight into the communication strategy formulation process and the choice of the communication mix based on which few recommendations can be made. 1. 7th Jun 2017 The company has a tie up with Apple computers and provides free iTunes song on every bottle cover as a promotional activity. Impact Of Contemporary Socio-economic Issues On The Business Environment > DOWNLOAD. Responsibility edited by Dean Ludwig and Karen Paul. To provide a better a break down of the communication strategy employed by Coca-cola in terms of the communication mix is provided below. This would require a even more forceful pursuit to produce an image make over into s drink that does not contribute to obesity in both the male and the female target audience. The company websites and current adverts were the predominant source for this information. There has always been an attempt to create a fun image for the drink, which till now the company has managed to communicate extremely effectively. To begin with the report analysed the current market situation to aid a better analysis of the communications strategy employed by the companies. The company is a clear leader in the soft-drink market, especially in the UK. Cite this document Summary. Hence it is quite clear the target audience for the communication strategy is the younger generation. Contemporary Issues in the Business Environment. This is where marketing communications strategy comes into picture. The contemporary business environment has urged the organisations to become socially responsible. Communication is at the heart of everything we do. Most frequently mentioned challenges of modern HRM are: globalization, economic and legal environment, workforce diversity resulting from both globalization and … We never like to rely on one source to fuel our analyses of the problems facing business today, ... and in many cases the fast-changing business environment is what ignites these fires in the first place. Copyright © 2003 - 2021 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. The company recorded revenues of $23,104 million during the fiscal year ended December 2005, an increase of 6.3% over 2004. Snaebjornsson and … The contemporary business environment is extremely competitive and hence coping with such pressures calls for modern marketing which can go beyond developing a good product, pricing it attractively and making it accessible. SAL3 (off-campus storage) Stacks Request. Most of the experts entail five major modes of communication vis-à-vis Advertising, Sales promotion, Public relations and publicity, personal selling, Direct and interactive marketing (Fill, 2006). Moreover, while identifying the target audience and developing communication objectives the marketer needs to ensure that any gap between the current public perception and the image sought are covered. In other words, by BA becoming more adaptable to environment and culture it has and still is a booming success. Sustainability: Business and the Environment Learning Objectives. GEMI, and EDF. Publicity and Public relations: As mentioned earlier, Coke as a brand has been the first one to set a trend of sponsoring big occasions and creating strong opportunities for publicity. Harassment and discrimination are arguably the largest ethical issues that impact business owners today. HOME. The module descriptor provides various details about the module including who the module tutor is, what you will be studying, how you will be assessed and what you will have learned once you have completed the module. Pepsi on the other hand seems to be attempting to generate a liking among its target audience and capture Coke’s share of the market. The diminishing geographical boundaries and highly competitive environment … Political, guided by high profile figures line California’s governor Arnold Schwarzenegger, and public forces alike are pushing hard to extend the ban into High schools (Mercer, 2005). It can be transmitted through sexual behaviour and contact with infected blood. It also changed graphics on Coke bottles and adopted a traditional look for its cans. Exclusive T-Shirts. Based on the above analysis a few crucial issues need be discussed to provide a deeper insight into the choice of the communications strategy chosen by each of the organisations. Personal selling: These include all face-to-face interactions with one or more prospective purchases with an aim of making presentations, answering questions and procuring orders (Kotler and Keller, 2006).. Communicating with the present and potential stakeholders and the general public is no longer a matter of luxury but competitive necessity. To conclude to this report, it has been evident that British Airways to take in consideration of several contemporary issues especially in the Environment and Corporate Culture. Textbooks like marketing management by Kotler and Keller and the others mentioned in the reference section at the end of the paper were employed to give a sound theoretical background to all the discussions made about the communications strategies. The module will also examine the factors and impact of the local and global business environment on running of businesses. All the above has been achieved with the aid of a very carefully planned marketing communication strategy consistently over the years. The company’s net profit was $4,872 million in fiscal year 2005, an increase of 0.5% over 2004 (Coca-Cola annual report, 2006). Finally, it’s how we generate revenue for both our clients and ourselves. This again reinforces the ‘health conscious’ image of the new drinks like Coke Zero. Click here to add your own text and edit me. Author: Ludwig, Dean Paul, Karen: Year: 1992: Pages: 264: ISBN: 0-7734-9543-6 978-0-7734 -9543-2: Price: $199.95. MENS. In a era where communication is a two way process, internet has helped the soft-drink industry in creating more awareness than ever before. The net profit was $4,078 million in fiscal year 2005, a decrease of 3.2% from 2004 (Datamonitor, 2006b). Supermarket colas include the likes of Tesco, Somerfield, Lidl etc. There is not much to differentiate between Pepsi and Coke’s current campaign elements. 0. The next section would provide a brief overview of the methodology employed by the author. The data collected for this review was primarily collected from industry reports like the Keynote reports. Moreover, it has a barrage of competitions and opportunities to win a prize for its visitors thus providing another form of incentive. The current reading list can be found in the Module Guide, which your lecturer should make available via Moodle. Some of the ethical concerns for businesses can be broken down into four categories: Fundamental issues: These issues include integrity and trust when dealing with customers and employees. Importantly, Block and Crawford (2013) emphasise persistence of stereotypes which prevent development of female leadership. Every business needs to be aware of the anti-discrimination laws and regulations that exist to protect employees from unjust treatment. Study for free with our range of university lectures! However, the proverbial ‘Cola war’ as it has definitely not died out. WHAT IS BUSINESS ENVIRONMENT ANALYSIS??? The current communication strategies in all three instances above seem to be hitting their target, however Coke as usual seems to be pulling out the best suited tricks with Pepsi just following suit i.e. The Coca-Cola Company (Coca-Cola) manufactures markets and distributes non-alcoholic beverage concentrates and syrups (Datamonitor, 2006a). In order to prepare this report the author employed both primary and secondary data. The Industrial Revolution was just that, revolutionary. No plagiarism, guaranteed! Contemporary Issues in Business 1050 Words | 4 Pages. On the basis of the industry situation entailed above the next few sections would analyse the current communications strategy employed by Coca-Cola, Pepsi and the Supermarket brands like Tesco Cola. When you work in a small environment, each team member's personality can have a huge impact on the harmony and productivity of the business. According to Friedman (1962), the businesses need to use its resources for getting engaged in the activities to increase its profits while staying within the rules of the game of free competition without deception and fraud. Contemporary Business Issues – Special NAAS Edition Editor’s Forward I would like to thank all who volunteered to serve as reviewers, particularly those who actually participated in reviewing the articles submitted for publication in the current issue. Develop awareness of key concepts and theories in business and economics and facilitate their application to real world examples, To provide a clear and comprehensive understanding of the functions within organisations and their impact of their execution, Present a clear depiction of contemporary business and economic contexts and illustrate associated pressures on national economies and organisations, Analyse the way organisations operate and the impact of their contextual issues, Apply numerical and non-numerical techniques to appraise economic policy and business decision-making. SAGE Business Cases. Rapid globalization in the era of advancing technology has tremendously impacted international business. CONTACT. taking music on board the communication strategy with iTunes seems to have boosted Cokes position much more while Pepsi’s association with yahoo music came only as an after thought. Three Special Stakeholders: Society, the Environment, and Government. Contact >> 123-456-7890 123-456-7890. However, the most cost intensive means is the television with each advert requiring a gargantuan amount of money. The Cola companies thus need a strategy to communicate a healthy image. Help >> Contact. Personal selling and direct marketing: The only means of direct consumer interaction seems to be the internet which has a highly interactive and colourful website. We will write a custom Essay on Contemporary Issues in Management ... an organization is viewed as having fair employee policies and integrates underrepresented individuals into the work environment” (Virick and Greer 2012, p. 577). Please note this module descriptor is indicative of the structure of this course and may be subject to change. Coke’s latest message says ‘the coke side of life’, while Pepsi has been trying to woo its customers by ‘it’s the cola’ and the supermarket cola’s attempt to design the bottles similar to that of the bigger brands and add the word ‘value’ to the label. Businesses need to work with the government to address these problems. FAQ. As the environmental risks and effects of climate change are becoming better understood, sustainability is high on the agenda of many major global corporations. Others, however, would disagree and argue that technology is detrimental to human interactions and negatively impacts relationships. 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