Social Media and Promotion Mix Assignment Role of Social Media in Firm’s Promotional Mix Social media is a significant element or components of the promotional mix. Social media plays significant role in the promotional mix strategy of Coca-Cola and Pepsi. For example, social media websites are creating and executing the global social media campaigns for Coca-Cola and Pepsi. In addition, social media also updates the product of Coca-Cola and Pepsi in the global market (Keillor, 2011). Apart from this our marketing assignment help experts says that, with the help of social media, Coca-Cola and Pepsi are also increasing the product reputation in the international market. Social media also helps in managing the price structure, level price and pricing strategy of Coca-Cola and Pepsi. In addition, social media also helps these companies in providing the product at the right time and place to the customers. With the help of social media website, Coca-Cola and Pepsi are also promoting their product in an effective manner (Anjum, 2011). Hence, it is estimated that social media plays several role in the promotion mix of Cola and Pepsi and increasing credibility and profitability.

Using Social Media to Build ‘Trust Banks Coke and Pepsi are using social media to build their ‘trust banks. Coke and Pepsi are very active in social media. Coke and Pepsi are working hard in the area of social media. With the help of this, they are building a bank of trust with their audiences. For example, recently, Pepsi decided that the company will not use its Super Bowl ad budget to create a set of iconic commercials. Instead, the company will use its “Refresh Everything” campaign in which it asked its “fans” to come up with ideas to “refresh the world” in the categories of health, the planet, art and culture, food and shelter, neighborhoods, and education. In addition, the fans offer their ideas on the company website to the company. The company displays and posts the ideas of the fans on the social website. In addition, the visitor’s votes on them and the company selects once to the funds. It should also be noted down that Coca-Cola is also using social media in different ways to create the trusting relationships with their customers (John, 2010). For instance, the company established their pages on the face book to build their ‘trust banks with the customers. In order to build ‘trusts banks, Coco-Cola have establish a partnership agreement with Face book to inspire fans. The company also provides coupons or other monetary consideration to the customers.

Marketing Risk for Companies From the given article, it is identified that the agreement presented the risk for Oprah and P&G because in the agreement both companies were agreed to purchase of time and integration into programming that was new for Oprah. For this, companies have not a full programming lineup as well as no audience that made risk for companies in the market. In this, companies also have not any basis for rating the programs, reach and demographics that created risks for both the companies in the market (Woodard, 2010). In the article, it is also stated that this type of partnership helps both companies in different manner. Through this, companies get benefits from different resources and make their products in effective way. In partnership of Oprah and P&G, P&G uses different advertising programs in order to make effective marketing in the market. In order to make effective advertising campaign, executives select the shows that have wide market coverage, ratings, reach and demographics. Through this partnership, both the companies get benefited in the market (Woodard, 2010). This type of partnership is more effective in the market because through this type of partnership, companies can manage their operations effectively. It is also helpful in creating effective marketing through the different electronic tools such as internet, television, radio, etc. This type of partnership can also reduce the marketing risk of companies because with the help of this, companies’ products can reach to more consumers in effective way.   References Anjum, A.H. (2011). Social Media Marketing: The Next Marketing Frontier. Germany: GRIN Verlag. John, S. (2010, May 28). How Coke and Pepsi Are Using Social Media to Build Their ‘Trust Banks.’ Harvard Business Review Online/The Conversation Blog. Retrieved from http://blogs.hbr.org/cs/2010/05/how_coke_and_pepsi_are_using_s.html Keillor, B.D. (2011). Winning in the Global Market: A Practical Guide to International Business Success. USA: ABC-CLIO. Woodard, L. D. (2010). Oprah Winfrey Deal with Procter & Gamble May Rock Old Advertising Model. Retrieved from http://abcnews.go.com/Business/oprah-winfrey-deal-pg-rock-advertising-model/story?id=10500290.   If you looking for original marketing assignment help, business assignment help and social media case study assignment help then you can contact us 24X7. We assure you that you will get first class assignment help services from our experts.