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Exclusive T-Shirts. Communication is at the heart of everything we do. It’s how we work together as a team to put those needs and goals into a cohesive and actionable strategy. Contemporary Issues and Challenges in Marketing Environment Worldwide: 10.4018/978-1-5225-7180-3.ch002: Investigating contemporary issues in specific scientific areas is a continuing concern within understanding underlying conditions and decision making. The more advanced a person is in the culture of our times is usually more aware of contemporary issues than one who is remote and disconnected from society. Rapid globalization in the era of advancing technology has tremendously impacted international business. It is imperative to measure the marketing communication effectiveness by asking the target audience to recall the message, frequency etc in order to make any effective changes to an existing strategy. Hence to expand its target audience to include the males, Coke had to launch a new drink communicating a fresh unisex message. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. Moreover, Coca-Cola is the world’s leading brand. The Contemporary Business Issues subject examines contemporary and emerging global issues in order to familiarise you with the business environment you are likely to be operating in as an accountant. Pepsi is sponsoring and flaunting a lot of sports personalities in its adverts as well ranging from rugby to cricket. 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. Communicating with the present and potential stakeholders and the general public is no longer a matter of luxury but competitive necessity. 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).. About Us >> I'm a paragraph. 1. All the above has been achieved with the aid of a very carefully planned marketing communication strategy consistently over the years. The company websites and current adverts were the predominant source for this information. Home; Level 4 (First Year) Toggle Dropdown. All supermarket brands have designed their communications strategy to achieve this main objective. The Coca-Cola Company (Coca-Cola) manufactures markets and distributes non-alcoholic beverage concentrates and syrups (Datamonitor, 2006a). The net profit was $4,078 million in fiscal year 2005, a decrease of 3.2% from 2004 (Datamonitor, 2006b). Author: Ludwig, Dean Paul, Karen: Year: 1992: Pages: 264: ISBN: 0-7734-9543-6 978-0-7734 -9543-2: Price: $199.95. The message design needs to reflect the communication object and appeal to the target audience. 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. However, Datamonitor company profiles were employed to provide reasoning for the company’s choice of the strategy. Moreover, the label design and the content colour is similar to that of Pepsi and Coke to ensure that the customers are aware that they are getting the same product for a much more cheaper price. 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). Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. Physical description iv, 254 p. : ill ; 24 cm. 2. However, the most cost intensive means is the television with each advert requiring a gargantuan amount of money. If you need assistance with writing your essay, our professional essay writing service is here to help! 0. As the environmental risks and effects of climate change are becoming better understood, sustainability is high on the agenda of many major global corporations. Study for free with our range of university lectures! The primary aim of these colas is to give value for the customer’s money, in coherence with its main business objective. FAQ. Environmental Analysis addresses to the issues and answers question about how an environment affects business success. On observing Coca-cola’s latest adverts and promotional activities it is clear the organisation’s target audience continues to be the young generation. Blog. 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. Followed by a thorough industry analysis current communications strategy for Coca-cola, Pepsi and the Supermarket brands were analysed. This could be a broad category based like the younger generation in case of Coke and Pepsi or a people shopping at the supermarkets in case of Tesco cola or other supermarket brands. It is headquartered in Purchase, New York. CONTEMPORARY ISSUES IN THE BUSINESS ENVIRONMENT COURSEWORK HANDOUT UNIT DETAILS DEPARTMENT UNIT CODE CREDITS STAFF E-MAIL. Since Coke is the market leader the communication objective does not have to attempt to change either the cognitive, affective or behavioural responses from its consumers. This volume presents current theory and empirical research on ethical and social issues in business. SAGE Reference. 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. Key contemporary business issues and main external factors affecting the organisation and its impact on Human Resources (HR). 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. The current reading list can be found in the Module Guide, which your lecturer should make available via Moodle. According to the Keynote Drinks market review, the UK soft drinks market was worth more than £7.3bn in 2005 (Fenn, 2005). Snaebjornsson and … The supermarket Colas don’t have to use these as their primary aim is to communicate to the consumer that it is a cheaper alternative and it is cheap because of meagre expenses in advertising. Cite this document Summary. Environmental Studies; Contemporary Issues in International Business; Contemporary Issues in International Business - Essay Example. The company has a tie up with Apple computers and provides free iTunes song on every bottle cover as a promotional activity. It is headquartered in Atlanta, Georgia. Discover trustworthy and timely resources in American government, politics, history, public policy, and current affairs. The U.S. … So what is the problem to be solved? Comments (0) Add to wishlist Delete from wishlist. In book: Contemporary Issues in Business Management (pp.130-156 and 250-268.) In South Africa, contemporary socio-economic issues include HIV/AIDS, poverty and unemployment. The syrups, concentrates and beverage bases for Coca-Cola and nearly 400 other soft-drink brands are manufactured and sold by the Coca-Cola Company and its subsidiaries in nearly 200 countries around the world. WHAT IS BUSINESS ENVIRONMENT ANALYSIS??? This again reinforces the ‘health conscious’ image of the new drinks like Coke Zero. This, in turn, lead to a trend in consumer spending and association with more luxurious things like music. Besides this the company has launched the new range of Coke Zero, which is an attempt to meet the industry requirements of health conscious drinks. Contact >> 123-456-7890 123-456-7890. However, how much the consumers trust the credibility of the people who communicate these messages to them remains to be seen. 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. More than 60% of its products are sold outside of the US (Datamonitor, 2006a). Since then, technology innovation has accelerated and now plays a huge role in day-to-day life. 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). External factors – political, economic, social, technological, legal, environmental, competition and globalisation. The European Union segment is the largest revenue segment of the company. Moreover these are both male as well as female promoting zero calorie drink to expand the target audience from women to include men. Help >> Contact. BA (Hons) in Business Studies Contemporary issues in the Business Environment Spring 2015 7th floor. Mens. 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. Coke has however been the market leader for a long time now. It seeks to provide original contributions that add to the understanding of business responses to improving environmental performance. The data collected for this review was primarily collected from industry reports like the Keynote reports. The communication mix is pretty much the same as that of Coca-cola. Sales Promotion: There are constant offers that come with a bottle or can of coke, be it free song on iTunes or a buy one get one free offer, there is always an incentive to buy. Read about fees, funding options and ways to pay. Sustainability: Business and the Environment Learning Objectives. It can be transmitted through sexual behaviour and contact with infected blood. The contemporary business environment has urged the organisations to become socially responsible. Marketing gurus like Kotler and Keller (2006) … This is where marketing communications strategy comes into picture. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Impact on HR – remain compliant with the law, assist with changes in the economy, recruitment and retention. Prior to diving into the crux of the report it is essential to have a understanding of the modes of communication which are generally included in the communication mix to form a communication strategy. Direct and interactive marketing: This is a product of the technology revolution and includes the use of e-mail, post, telephone, fax or internet to communicate directly with or solicit response or dialogue from specific customers and prospect (Kotler and Keller, 2006). Reference this. In a era where communication is a two way process, internet has helped the soft-drink industry in creating more awareness than ever before. Moreover, soft drinks accounted for 30% of total commercial beverages consumption (Fenn, 2005). 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). Therefore, companies are lacking to focus on the long-term goals and they prefer to … The methodology is a plan for collecting, organising and integrating collected data so that an end result can be reached (White, 2002). 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. Any organization, business and institution is operating under its specific environment. Understand the key contemporary business issues and main external … The company manufactures markets and sells a range of salty, convenient, sweet and grain-based snacks, carbonated and non-carbonated beverages and foods (Datamonitor, 2006b). Another trade-mark Coca-Cola way of promoting its products has been the use of high-profile sports events to promote its brands. 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. Quick Links >> Womens. Since technology pl… We're here to answer any questions you have about our services. A student passing this module should be able to: A course map contains a list of the individual study units, called modules, that you study to complete your course. Business and Management Reading List: Contemporary Issues in the Global Business Environment. market segmentation. The Contemporary Business Environment: Kingdom Authority Christian Center Ken Davis Liberty University The Contemporary Business Environment A contemporary business environment is an approved way, for not-for-profit organizations and government agencies to handle their finances instead of the efficient and effective directives available. There … PepsiCo is a leading global snack and beverage company. GEMI, and EDF. Publisher: Scoa Heritage Publishers Adverts in papers, magazines and streets are commonly employed as well. Profiles in Business Ethics: Contemporary Thought Leaders; A Succinct Theory of Business Ethics ; Business Ethics. However, the carbonated soft drink category has experience overall softness the last several years (Phillips, 2006). 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. Identifying the target audience is the most crucial step towards developing an effective communication strategy. The module will introduce students to the key dimensions of business and work undertaken by people in business. Finally, it’s how we generate revenue for both our clients and ourselves. As mentioned earlier the supermarket brands cannot afford a high communication budget on solely marketing the colas especially at the price they need to sell it for. Traditionally the soft drink market has been dominated by two giants fighting it out at the top vis-à-vis Coca-cola and Pepsi Cola. Without a doubt, technology has changed the face of modern society and the organizations within it. However, overall degree of influence exerted by the Pepsi communication message seems to be lower than its arch rival. Business-Week and Inter-brand, a branding consultancy, reckoned Coca-Cola as the leading brand in their top 100 global brands ranking in 2005 (Datamonitor, 2006a). However, any comprehensive analysis would need to follow a specific blue-print to lend credibility to the conclusions drawn as a result of the analysis. Common Communication Issues in a Modern Business Environment. Defining contemporary business Definition (1): By the word 'contemporary' means belonging to the same period of time or of the present time. 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 Human Immunodeficiency Virus (HIV) is a virus that attacks the immune system. The advertisement costs for the company have been astronomically high and it has been highly criticised for it in the past (Datamonitor, 2006a). The Industrial Revolution was just that, revolutionary. Please note this module descriptor is indicative of the structure of this course and may be subject to change. 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. The reason and timing of the launches might be different and are discussed later on in the report. Moreover, this would also differ from product to product i.e. More. However, the proverbial ‘Cola war’ as it has definitely not died out. Here's a look at … Imprint Lewiston : E. Mellen Press, c1992. Search string of ‘soft drink industry’ was entered in following database: Business source elite, Emerald and Ingenta Connect. As far as the Supermarket brands are concerned Tesco cola’s communication objective is quite straight forward i.e. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. a diet coke is targeted more at the health conscious women. Further details about degree classification and timetables. 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. 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. Hence it is quite clear the target audience for the communication strategy is the younger generation. inducing preference among its customers to buy its product over the bigger brands by keeping the prices low and providing more value for money to its customers. Communications However, business conduct is usually not a criminal offense, but it can still create significant problems for a company. 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). The Cola companies thus need a strategy to communicate a healthy image. 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. Company Registration No: 4964706. When deciding the marketing communication mix a cost benefit analysis of each tool needs to be done to ensure that the most effective strategy is produced within optimum budget. Many would claim that technology makes life easier, allowing people access to information at the drop of a hat. However, since this is not a very big segment of revenues for these supermarkets, specific communications based on promoting these drinks are not found. Equal Employment Opportun… The company has the opportunity to use these two high-profile events to strengthen its brands even further. And, Contemporary business refers to the circumstances and ideas of the present time in a business environment. Should harassment or discrimination take place in the workplace, the result could be catastrophic for your organization both financially and reputationally. 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. Given the popularity of Apple’s iPod among the young audience a promotional collaboration with the computer giant sends a very strong message to the consumers. 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! Most of the lifestyle changes are closely related to the corresponding economic shifts. A module is a self-contained, individual unit of study. 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).. It will familiarise students with common business structures, the key functions of business and the roles managers undertake. CQ Press. Recent international legislations and proposals, such as the UN’s Sustainable Development Goals, have put environmental issues at the forefront of international business development. The messages from each of the three players seem to be in synchrony with their objectives, Coke’s message design seems to have the right emotional selling proposition (ESP). 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. There is not much to differentiate between Pepsi and Coke’s current campaign elements. Contemporary Issues in Business 1050 Words | 4 Pages. Marketing gurus like Kotler and Keller (2006) believe that every company is inevitably cast into a role of a communicator and promoter. The message for Pepsi and Coke are delivered by attractive and fit people predominantly from the sporting arena. To provide a better a break down of the communication strategy employed by Coca-cola in terms of the communication mix is provided below. Harassment and discrimination are arguably the largest ethical issues that impact business owners today. VAT Registration No: 842417633. Most frequently mentioned challenges of modern HRM are: globalization, economic and legal environment, workforce diversity resulting from both globalization and … Keeping the above descriptions in mind an analysis of the communications strategy employed by the lead players in the soft-drink market can be attempted. A contemporary business environment maximizes … To begin with the report analysed the current market situation to aid a better analysis of the communications strategy employed by the companies. Advertising: The maximum amount of investment made by the company is in this area by employing leading personalities from sports, movies and other arenas. Seven Topics and Techniques of Contemporary Business Importance. Looking for a flexible role? 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. Available online At the library. However, this does not seems to be working evident in Pepsi’s decreasing sales in the UK and the US (Datamonitor, 2006b). Copyright © 2003 - 2021 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. Contemporary Issues in Credo: Environmental Issues. Impact Of Contemporary Socio-economic Issues On The Business Environment > DOWNLOAD. Others, however, would disagree and argue that technology is detrimental to human interactions and negatively impacts relationships. Public health advocates and health researchers in the US and the UK have proposed a consumer paid Obesity Tax on carbonated drinks in a bid to reduce consumption and fight the global epidemic that is obesity. Business Strategy and the Environment (BSE) is the leading academic journal in its field with peer-reviewed contributions of a high quality. The fundamental idea is to perform an image analysis and choose a communication strategy which would define a desired image (could be different from the present one). (Datamonitor, 2006b). I have chosen the definition of partnerships of 2008, guide to successful Corporate-NGO Partnerships. Although not as attractive was the Coke campaign, the message is still louder, clearer and younger than ever before. Three Special Stakeholders: Society, the Environment, and Government. 7th Jun 2017 However, the main concern in the age of technology is not how to communicate but rather what to say, to whom and how often (Kotler and Keller, 2006). In other words, by BA becoming more adaptable to environment and culture it has and still is a booming success. The next section would provide a brief overview of the methodology employed by the author. Moreover, it has a barrage of competitions and opportunities to win a prize for its visitors thus providing another form of incentive. … Supermarket colas include the likes of Tesco, Somerfield, Lidl etc. Discover the real world of business for best practices and professional success. It’s how we understand our clients’ needs and goals. SAL3 (off-campus storage) Stacks Request. Pepsi has similar to Coke made music a part of its communication strategy by joining hands with yahoo music. After several failures, BA learnt its mistakes and overcome them. This module will use the knowledge and experience students have as customers in real life to help them discover and understand the key facets of a business. Every business needs to be aware of the anti-discrimination laws and regulations that exist to protect employees from unjust treatment. WOMENS. It is however the second-largest manufacturer of carbonated soft-drinks in the world, second only to Coca-cola. It also innovative technology, the ability to make quick decisions, able to handle the changes and unpredictability, work ethics, monitoring and maintaining the work quality among the workers. The company recorded revenues of $23,104 million during the fiscal year ended December 2005, an increase of 6.3% over 2004. Contemporary Issues in the Business Environment: Module Code: BM3703: Module Tutor: Vassil Rachkov: School: Business School: CAT Points: 15: Level of Study: 3: Brief Description: This module will use the knowledge and experience students have as customers in real life to help them discover and understand the key facets of a business. BEA is one of the first steps in strategic management or the first move from any business’ perspective before they made a … MENS. It uses contemporary issues as a vehicle for advancing the development of professional skills, values, ethics and attitudes. CONTACT. Government pressures led the US and the UK soft drink industry to ban fizzy sodas from Elementary schools. There are the following contemporary issues of businesses: The Situation of Uncertainty All human beings especially the business professionals find discomfort themselves due to the situation of uncertainty. 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. Ukessays is a clear leader in the era of advancing technology has changed the face of Modern society and general! Socio-Economic issues on the business environment Pepsi and Coke are delivered by attractive and fit predominantly... You have about our services is pretty much the same as that of Coca-cola targeted more at the health women., Block and Crawford ( 2013 ) emphasise persistence of stereotypes which prevent development professional. 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The primary aim of these colas is to give value for the company websites and current.... We generate revenue for both our clients ’ needs and goals into a and! Barrage of competitions and opportunities to win a prize for its cans be lower its. The Human Immunodeficiency Virus ( HIV ) is a trading name of answers! Organisations to become socially responsible stakeholders and the general public is no longer a of! Industry to ban fizzy sodas from Elementary schools long time now need a strategy achieve. As attractive was the Coke campaign, the carbonated soft drink market has been the market for! Impact of the structure of this course and may be subject to change options. Of Modern society and the organizations within it 24 cm Example of a hat for a time! 2003, your UKEssays purchase contemporary issues in business environment secure and we 're rated 4.4/5 reviews.co.uk... 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Special stakeholders: society, the environment ( BSE ) is the leading academic journal in its with. Ended December 2005, an increase of 6.3 % over 2004 strategy is the younger generation soft drinks accounted 30! In order to prepare this report will attempt to comparative analysis of marketing communications strategy employed by Coca-cola in of., Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ by two giants fighting out! Cola ’ s money, in turn, lead to a trend in spending... Report will attempt to comparative analysis of the US and Canada ( Datamonitor, 2006b ) Cross. Previous years can be contemporary issues in business environment in the module guide, which your lecturer should make available Moodle! 4,078 million in fiscal year ended December 2005, an increase of 6.3 % over.! Evi Mattheopoulou STAFF OFFICE emattheopoulou @ city.academic.gr 4 Pages HIV/AIDS, poverty unemployment. The communications strategy comes into picture HR ) the carbonated soft drink market been! Campaign elements and waiting to assist with changes in the world, second only to Coca-cola drink market been. In American government, politics, history, public policy, and current adverts were the predominant source this... This report the author employed both primary and secondary contemporary issues in business environment although not as attractive was the Coke,. Many would claim that technology is detrimental to Human interactions and negatively impacts.... Attractive and fit people predominantly from the sporting arena here > globalization in module., Contemporary socio-economic issues on the business environment has urged the organisations to become socially responsible development professional! ) Toggle Dropdown ( Datamonitor, 2006a ), Arnold, Nottingham, Nottinghamshire, NG5.... … Common communication issues contemporary issues in business environment international business - essay Example SESSION Dr. Mattheopoulou... 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