Marketing Essay Example on Pepsi Canadas Refresh Project

2021-07-07 06:13:42
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Pepsi Canadas Refresh Project, which is an innovative marketing promotion, should convince the Canadians that the company is taking a different approach when it comes to engaging with its consumers. This involves awarding grants to individuals and organizations dedicated to improving their communities. Currently, 58 projects have been funded for between $5000 and $100000 each. Pepsi Canada should also focus on replacing its traditional Super Bowl Advertisement with Pepsi Refreshment Project. Apparently, the Super Bowl broadcast is only suitable when it aligns with the brand strategy of an organization. However, the approach has some shortcomings which have derailed the companys marketing efforts in ousting its close competitors such as Coke. The Pepsi Refresh Project will be appropriate since it will emphasize on important engagement around people and the power of ideas. The new strategy also transcends corporate philanthropy or cause marketing since it is focused on broad consumer involvement as well as the strengths of individuals ideas in making significant differences for the firm.

Decision Options

The Pepsi Canadas Refresh Project has identified possible changes to be introduced in the companys marketing strategies with the aim of changing its market position as far as battling stiff competition from key rivals such as Coke. They Include:

Awarding grants to individuals and organizations looking to improve their communities.

Taking a different Approach to engaging with its consumers

Replacing its traditional Super Bowl advertisement with the Pepsi Refresh Project.

Focusing on brand loyalty.

Pepsi Canada positioning itself as the optimistic catalyst for idea creation, the Pepsi Refresh Project invites the public to Do Good.

Decision Criteria

The Pepsi Canadas Refresh Project identified three objectives to help the management on implementing the earmarked changes in the organizations marketing strategy. Those goals include:

Raise awareness and interest in the Pepsi Refresh Project; Position Pepsi as the optimistic catalyst for idea creation with consistency and alignment of program messages across all media channels.

Generate a steady stream of national, local and online media buzz to support business and brand goals.

Drive Americans to RefreshEverything.com.

Awarding grants to individuals and organizations looking to improve their communities.

A year after the commencement of Pepsi Canadas Refresh Project, an innovative marketing promotion for the company embarked on awarding grants to the parties intending to improve the welfare of their community. Pepsis management focused on initiating over 58 projects, with each project getting between $5000 and $100000 as part of the grant. This will align the efforts of the firm towards challenging the status of quo maintained by rival companies as well as setting the precedence for the next generation (Mark, 2011). This approach will also facilitate Pepsi Canadas aspiration of increasing its interactions with the customers. Whereas this might be perceived as a non-marketing strategy, it will be useful to the firms pursuit of establishing a strong brand thus improving its reputation and sales. This option will intensify the organizations efforts in supporting individuals who are willing generate innovative and optimistic ideas. The option will, therefore, play a significant role when it comes to improving the companys social responsibility to the community which is vital in creating acceptable brands in a given market.

Taking a Different Approach to Engaging with its Consumers

Part of the changes that the management team has suggested includes adopting new strategies when it comes to interacting with its fervent customers. This involved the introduction of advanced marketing programs that enable the firm to reach out to its multi-international consumers. The current marketing strategies focus on the young customers who are considered to highly adaptive to the changes introduced by the company towards its brand. It is highlighted that the firm launched a new marketing and promotion campaign dubbed Refresh Everything in late December 2008 (Mark, 2011). Apparently, this marketing technique targeted the Optimistic Millennials who had been identified by Pepsi Optimism Project. The millennials are perceived to be the generation full of enthusiasm and optimism. This implies that the strategies used to interact with the young customers should incorporate elements that are readily acceptable under this age group. Some of them include the use of particular musical genres, technology (social media platforms), dressing codes or sexual factors.

Customer empowerment is also another approach that has been implemented. This method involves the power of multitude and customer choice. The availability of the information in different media platforms allows clients to be critical of companys operations. Currently, the experiences of the customers have are vital since they can influence production outcomes and the marketing success of the PepsiCo (BevNET Staff, 2011). Contemporary customers are also enthusiastic, enlightened and generous. This implies that it was difficult to win their loyalty when engaging them through traditional means. Pepsi Canada has responded by choosing new strategies which embrace humility and willingness to capture customers needs. For example, Pepsi Canada has launched different projects as well as providing grants to the organizations and individuals who ready to improve their communities. This is an indication that the firm is focusing on empowering its customers, which is among the new client involvement approaches implemented.

Replacing its Traditional Super Bowl advertisement with the Pepsi Refresh Project.

The implementation of the Pepsi Refresh Project would be a significant step towards the adoption of the effective marketing approaches. According to the management of Pepsi Canada, the Super Bowl broadcast is an amazing platform for advertisers, especially if it aligns with the companys brand strategy. However, the brand needs to overlook its history and opt for the marketing techniques that are not limited to singular events or situations (Mark, 2011). Adoption of the Pepsi Refresh Project will enable the firm to have a crucial social engagement with people. This will foster its efforts in promoting its strategy of the power of ideas. Pepsi Refresh Project is also a social marketing program which will play a vital role when it comes to introducing a positive change for Pepsi and Canadians. Unlike Super Bowl advertisement, the Pepsi Refresh Project focused on deep consumer engagement and the power of individuals ideas to make a positive difference with Pepsis support.

Focusing on Brand Loyalty

The global financial crisis in 2008 forced Pepsi to hire a new sales agency. Apparently, Pepsis CSD sales were declining at 3 per cent a year, which was 50 per cent faster than Cokes CSD sales decline (Mark, 2011). The unveiling of the new product logo, featuring a white band in the middle of the Pepsis red and blue circle highlighted the companys efforts towards endearing itself with its customers. Pepsi Canada considers Millennials as its key market. Pepsi Canada ought to gather consumer insights to facilitate the process of customer satisfaction which is integral improving brand loyalty. The companys research indicates that millennials are influenced by the client reviews. The young generation of the consumers also believes that it is essential to have a positive outlook on life as well as being open to change (Mark, 2011). The brand strategies should, therefore, target different groups in the market. Some of the changes for Pepsi Canada include abandoning a one-way conversation and embrace multifaceted, 24-hours a day, seven-days-a-week dialogue between brands and their customers, between their clients and customers entire circles of friends and families.

Pepsi Canada positioning itself as the optimistic catalyst for idea creation, the Pepsi Refresh Project invites the public to Do Good

Pepsis Refresh Project will play a significant role in positioning the company as the optimistic catalyst for idea creation. As a way of empowering consumers, Pepsi will be targeting at utilizing its media democracy such as social media to engage with its customers. Pepsi has made the process engaging and asked those with ideas to harness the power of their networks (Mark, 2011). The project will be vital in initiating conversations and credibility in the social enterprise and innovation platforms through the application of dynamic and real time campaigns. Such a move will democratize the process of turning ideas into reality. Through the implementation of Pepsi Optimism Project (POP), the company will be improving the levels of optimism amongst the consumers of its brand. This will avail opportunities for individuals or organizations to initiate brilliant ideas which are essential in changing the world.

Recommendation

Options 1, 2, 3 and 4 should be pursued. The recommendation should follow the companys adopted decision-making procedures. The changes to be imparted in the Pepsis marketing operations need to be applied systematically to cope with various dynamics of organizational management. Implementation of the first option will enable Pepsi to demonstrate its dedication towards serving the community. As part of its corporate social responsibility (CSR), pursuing option one since it involves the application of the efforts which appeals to the consumers who are ready to make positive changes through their purchases and affiliation to the company (Alton, 2017). Through the provision of grants that are directly used in the initiation of different projects that are meant to help the community, Pepsi will enhance its chances of building a brand equity. This will be focusing on the imparting a positive perception or feelings towards the companys products which are associated with social approval and positive reviews provided by the consumers.

Option one will compliment with option four which focuses on brand loyalty building. Improving the loyalty of the customers towards the products delivered by Pepsi Company will be dependent on the levels of satisfaction amongst the consumers. It is recommended that Pepsi, through its Pepsi Optimism Project (POP) ought to identify strategies that will it engage with consumers thus understanding customers insights on the operations of the firm. The option also needs to be implemented effectively since it emphasizes on the adoption of the new approaches when it comes to the organizations engagement with the consumers of its brand. It will be imperative for Pepsi Canada to invest in the projects that will tap into the innovative ideas suggested by the public. Frequent surveys should be conducted to get an insight into the perceptions of the consumers towards the companys brand. For instance, there is the need of exploring the needs and suggestions of the millennials. This will ensure that brilliant ideas are captured and incorporated in the Pepsis marketing strategies.

Action Plan

Pepsis marketing team should convince the senior management to embrace the recommendation, align stakeholders and implement each proposal.

Short Term Goals (2 months)

Frank Cooper, who is a senior vice president at PepsiCo Americas Beverages should draft a proposal with the help of his trusted team.

Reach an agreement regarding the recommendation and the proposal.

Select team members to be in charge of the changes to be adopted in the organization.

Present the recommendation to Pepsis senior management on the changes to be introduced in the companys marketing and promotion strategies.

Medium Term Goals (2-3 mon...

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