Marketing Essay Example | Topics and Well Written Essays - 750 words - 19

Marketing - Essay Example One of the areas of differentiation that can distinguish Coke is the corporate social responsibility. CSR is used as a point of differentiation as CSR is not different from quality. A company has to demonstrate responsibility towards all of the seven stakeholders - the owners or the stock holders, the suppliers, the customers, the employees, the community, the government and the competitors. By having strategic approaches to philanthropy firms fulfill their responsibility to shareholders and their commitment to community (McAlister & Ferrell, 2002). Consumers globally have become socially conscious and they are concerned about the impact that companies have on the society. This includes the impact on the physical environment, the workers and the consumers. Mass media has contributed to consumer awareness towards these issues. Coke should try to seek competitive advantage through philanthropic activities. It has been found that integrating operations, quality, strategy and technology can help sustain competitive advantage and strengthen the focus on doing things right. By being socially responsible and adhering to the ethical principles, a company’s brand image is enhanced, and it is able to attract and retain employees. Other benefits that they can achieve are increased market share, lower operating cots and easier to attract investors (Labbai, 2007). 2. Due to internationalization and globalization firms often are confused whether to have a globalized or a localized business strategy. Differences in culture, behavior, the political stability, government regulations, demographics and customer needs across boundaries creates new challenges and provides new opportunities to firms and they need to adapt their strategy according to the need. A global strategy treats the world as a single market whereas localized approach takes into account the local opportunities