The global workplace and markets are changing rapidly, and competition is becoming stronger. Organizations with goals of increasing their profit margins and sustainability need to apply different sales models and processes to get the required bottom-line. Devorak (2015) defines sales processas “a systematic approach involving a series of steps that enables a sales force to close more deals, increase margins and make more sales through referrals.” (n.p). This paper will analyze two products, Coca-Cola andthe World Wrestling Entertainment (WWE), and demonstrate how they can partner with the goal of increasing the sales of both products. The sales process and cross-promotion activities are essential to service delivery organizations’ success.
Often, to stay competitive companies engage in partnerships. Though today selling dynamics have changed due to consumer’s knowledge of products, the basics of selling are fundamentally the same across the world. Cross-promotion is a marketing strategy that targets buyers of a product with an offer to purchase a related product. According to Porter (1985), "to have a competitive advantage, a firm must create superior value for buyers by offering lower prices than competitors for equivalent services or by providing unique services that a buyer is willing to pay for at a premium price." (p.119). Therefore, using this definition, it means that firms must devise a competitive strategy that can establish a profitable and sustainable position regarding competitors. Porter’s theory of the competitive advantage of nations provides a sophisticated tool for analyzing competitiveness with all its implications.
Delegate your assignment to our experts and they will do the rest.
Coca-Cola has managed to stay relevant by having a cost advantage over competitors. Porter(1985) further indicates that competitive strategy represents the search for a favorable position within an industry compared to one competitor, therefore trying to establish a profitable and sustainable position against the forces that determine industry competition. Differentiation has also assisted coca cola. Coca-cola cost focus is per each segment and cost varies from one product to the other, based on size, packaging, and regional differentiation. Coca-Cola has many products under its portfolio all targeting the different demographics in the market. They include Coca-Cola, Diet Coke, Fanta, and Sprite. Other top brands include Minute Maid , Powerade, and Vitamin water. Some of the dominant competitors include Pepsi, Nestle S.A, and DR. Pepper Snapple group.
World Wrestling Entertainment, Inc. (WWE) produces some of the most popular shows in the world and reaches a diverse audience. It has an enormous following for its entertainment value. Their entertainment has commercial aspects and draws viewership, an opportunity for cross-promotion. While Coke Zero is, a product of Coca-Cola Company that has zero calories but has the same taste with the original taste. Coke Zero has a huge following of the young people; who are also health conscious and thus would want to enjoy Coke as a beverage but with reduced sugar. The company’s value chain strategy is diversified to meet the needs of a large population regarding thirst and liquids.
WWE product analysis
WWE is amazingly common among the male demographic. Mainly, those aged 14 to 34 are known to be enthusiastic viewers of WWE. The female gender is also among this demographic. WWE is a long standing entertainment company of over twenty years, establishing itself as one of the most popular brands in entertainment today. Stotlar (2005) indicatesthat demographic changes in the United States population have directly influenced sports marketing. As one of the television's special events, WWE combines other prospered types of entertainment. People who watch other television shows can see the same stories being depicted. Wrestling has metamorphosed from a dull sport to one of action and excitement (Gresson, 1998).The intensity of the actions and enthusiasm make it very attractive or captivating. People now see it as a business, entertainment, and sport.
Coke Zero Product analysis
Coca-Cola focuses on market penetration strategy of Coke Zero towards the 18–22-year-olds health who conscious cola-drinking male consumers. They identify strongly with gender stereotypes. When Diet Coke launched as an alternative for the original Coke; containing fewer calories, sales showed a decline in their male customer base. Findings showed that men disliked the taste of Diet Coke and were more concerned with the taste than the ingredients. Thus, the inception of Coke zero, with zero calories, and tastes more like the original Coke. The features of Coke Zero 375ml can design is toreinforce by value proposition theory.
The natural appearance of the product comprised of the basic black can that has the logo or trademark Coca-Cola logo and the text ‘Zero' in white underneath it (Coca-Cola Zero), which gives it an enigmatic and appealing look that male customers are desiring. The thematic black color stands for enigma and strength, something which the young population connects with as a show of dominance and personality.
Cross-promotional campaign by WWE and Coke Zero
The theme for the campaign will be “the extreme cool” both products identify with a target group of young people who want to be associated with being cool. The superstars are cool, and Coke Zero packaging is cool and for the” cool peeps”Catchy hashtags will be used #the extreme cool #becool #chillcoolzerocoke #aintyouthecoolone. WWE partners with Diet Coke as the primary sponsor for their derby of John Cena versus the legendary Undertaker. The partnership involves ticket sales and co-production of the derby. Both companies will benefit from merchandise sale, ticket sales, product sales, adverting the derby on WWE.The early customers will benefit get a 5% discount for the arena match, and customers will get instant prizes by texting the code on the ticket, pictures with the stars, autographed merchandise by the superstars. The fans with best coke zero selfies like on their social media pages will win free tickets.
Proposal
The derby attendance is expected to be 80,000 attendees with each ticket sale being an average of 100 dollars. Coke Zero, as the sole sponsor of the match, will sell its product during the event. Both companies will have a promo of the match running on WWE and social media.The stakeholder will receive a phone call to secure an appointment for the proposal to be tabled; this will be followed up by an official email.Benefits of collaborating with WWE include Coke Zero, and WWE share the same target market, and further segmentation shows that both company's target male consumers who identify with the perception of being deemed cool.Sales volumes will increase during the promotional period and the match. Enhanced brand perception will be achieved by the association of WWE superstars with Coke Zero as a preferred cool drink.
Sales Process
The sales process will begin with identifying the sales department of each service organization and setting sales goals. Their respective managers will be contacted officially to inform them of the intent. A proposal with viable profit opportunities will be created and presented upon meeting with them. The questions that will be asked include; can we have a cross-promotion that will enhance sales? Will you be open to a promotional fight to strengthen viewership? Will accept a low cost but high sales promotions and partnership? The element that will be included is the synergy between two widely known brands. The combination will produce additional value to each brand.
References
Dvorak, D. (2015). How to Define a Sales Process for Sales Success. Retrieved from https://www.nasp.com/article/D6BC485A-B705/how-to-define-a-sales-process-for-sales-success.html
Gresson, A. D. (1998). Professional wrestling and youth culture: Testing, taunting, and the containment of civility. Boulder, CO: Westview.
Porter, M. (1985). Competitive advantage . New York: Free Press.
Stotlar, D. K. (2005).Developing successful sport marketing plans. Morgan Town, WV: Fitness Information Technology.
