Today in our session we looked at CSFs for the Coca-Cola Company and placed them in order of their importance. Together we recognised the relationships between the organisation and the different markets in the six market model; we recognised that relationships with multiple groups need to be managed to achieve single CSFs.
The CSF’s we have identified, and they relationships they would have to maintain in order for them to be effective are:
1. Having a stronghold on the market – Coca-Cola would have to have relationships with the customer, referral and influence markets in order to keep their position within the market. The company can keep customers and gain them by having a good relationship with their referral market that will help the company build new customer relationships.
2. Being culturally aware –Good relationships with the customer markets to understand and know what angle to market their product from. A good relationship with the internal market to make sure they can satisfy their employees across all cultures. With their supplier and alliance market to ensure they were able to gain the right materials needed for their production.
3. Being environmentally friendly – It is essential that Coca-Cola adhere to their customer’s needs to maintain a good relationship. A good relationship with suppliers is imperative to ensure the products they receive to meet their customer’s eco-friendly requirements. Having good relationships with recruitment markets helps attract new employees.
4. Helping local economies – Through good relationships with recruitment markets and influence markets, Coca-Cola can provide jobs to help local economies. Good relationships are needed with supplier and alliance markets in order to buy building materials from different countries to support their economies.
5. Using Advanced Technology- It is essiential that they have a good relationship with their customer market. By using advanced technology this allows them to create new products designed from customer research which could potentially bring in new customers and keep existing customers happy. E.g. PET bottle
6. Social Media – Having good relationships with Customer Markets allows Coca-Cola to keep their customers and potential customers up to date with current projects and the latest products they have to offer.
In preparation for next week we are going to observe different info graphics and decide on designs that we want to incorporate into our info graphic