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Marketing Assignment: Case Analysis Of Coca Cola
- Analyse the background of the company and the challenges they face in a changing and challenging business world; and also, within the company, in order to break through the barriers to maintain their success by addressing innovate change.
- Provide insight into the marketing plan adopted by the company to ensure their success with emphasis on the tools, strategies and plans used to penetrate the markets and ensure profitability.
- Analyse the current issues/concepts that are relevant to and potentially impact the international marketing environment. Explain the innovative strategies and tools adopted as well as its impact on the company in relation to branding.
- Demonstrate a critical understanding of one of the marketing models used in order to evaluate the benefits of that model for the company; and, evaluate the influence of the changing business environment on the marketing priorities and marketing management functions of the organisation that influence consumer behaviour contributes to its success.
- Discuss how a SWOT ANALYSIS and PESTLE contributed to the growing success of the brand towards influencing customer behaviour and optimising their product sales and excellent service delivery.
- Explain how the diversification into collaboration and development of App Anni caused the company to maintain their success in the face of adversity and challenges especially since technology is advancing rapidly.
1. Background of Coca Cola Coca Cola is a world-famous beverage brand. The company started when Coca Cola syrup was produced by Dr. John Pemberton. Initially, the syrup was produced and sold as a fountain drink. However, the bottling started from the year 1899 (Serôdio, McKee and Stuckler, 2018). The rights for bottling and selling Coca Cola in the United States were secured by Joseph B. Whitehead and Benjamin F. Thomas. Since, its beginning Coca Cola as a brand has been growing constantly, adapting to the changes in the internal as well as external environment. They have optimised their resource allocation and increased their revenues. Their primary product was carbonated soft drinks. However, with changing times they have diversified into a vast range of beverages.
The company was formally introduced in the year 1916. From the same year, its iconic bottle started being bottled, which is used even today. In 1928, Robert Woodruff expanded the business of Coca Cola to overseas locations. In the same year, Coca Cola was introduced at the Olympic Games. In the 1980s, the attitude of people towards unhealthy drinks started changing. Thus, diet coke was introduced by the company to meet the needs of the customers (Tran, 2021). Since 1980s, Coca Cola has been expanding rapidly. During those days, every year the company expanded and entered a new country. At present, 94 percent of the global population recognises Coca Cola as a brand.
Challenges faced by Coca Cola As a company, Coca Cola is facing several challenges due to the changes taking place in the global business environment. To maintain the success, the company is trying to break through the barriers and constantly encouraging innovation. They are also facing some internal drawbacks within the company.
2. Marketing Plan The marketing plan of Coca Cola can be illustrated using the marketing mix. An effective marketing plan incorporates the marketing tactics and use of strategic tools. The four most essential aspects of the marketing mix are product, price, place and promotion (Pomering, 2017). The marketing plan of Coca Cola has been designed to satisfy the needs of the target consumers and to realise the marketing goals. To remain relevant and to sustain in an ever-changing competitive market, Coca Cola had to monitor and amend its marketing plan over the years. The marketing plan of Coca Cola keeps the internal as well as external factors in mind to maximise the returns from the business.
Product : To get an added edge over its competitors, Coca Cola is trying to diversify and expand its range of products. The product mix of Coca Cola includes soft drinks, i.e., their primary carbonated drinks, juices, energy drinks, sports drinks, water, etc. The company realised that through product diversification, they can have a competitive advantage as well as increase their revenue streams (ABBASI, 2017). Through constant innovation, the company is trying to enhance the taste and quality of its products. They are open to customer feedbacks based on which they try to improve. This has facilitated consistent growth of the brand over the years.
Price : Coca Cola has adopted an aggressive pricing policy which has helped it to sustain in the market. They have priced their products in such a way that they can sustain even while facing intense competition from its close rival, Pepsi and other local brands. They have kept economy packs for various products, which are lowly priced and attracts cost conscious consumers. The company has been following competition-based pricing strategy so that the consumers buy their products instead of their substitutes from the rivals.
Place : Place is a very crucial aspect of the marketing plan. It is the location from where the customers can get the product. Basically, the place here is the distribution channel through which the products of Coca Cola will reach the market. Coca Cola products are mainly available in retail stores, supermarkets as well as online stores. The place utility becomes a deciding factor for the consumers to purchase a product among multiple options.
Promotion : Coca Cola has used various channels for advertising and promoting their brand. They have advertised their products through T.V, social media and print media (Moravcikova and Kliestikova, 2017). They have also used direct marketing and interactive marketing. The other modes of promotion include public relations, publicity and personal selling. This has facilitated branding. The company has concentrated on positioning of their brand. They tried to create a clear image in the mind of their target customers. This has helped Coca Cola to emerge as the strongest beverage brand in the global market.
3. Factors affecting International Marketing Environment To sustain in the global market, the companies need to take into consideration several factors which specifically impact the international marketing environment.
As stated by Kim, Moon and Iacobucci (2019), Coca Cola being a global brand is impacted by factors like culture of a country where it intends to sell its products. Not all countries were equally accepting towards a carbonated soft drink. For example, the rural areas of India and Pakistan for long and to some extent even today prefers local drinks like Chhas and Lassi over soft drinks. The people of China and Japan are quite health conscious and not very much interested in carbonated drinks.
The socio-economic structure of the country where the products are being introduced affects the business of Coca Cola. The economic condition of the developing nations is much lower than that of the U.S, where the drink was initially introduced (Gbadamosi, 2019). Thus, it took time for developing nations to accept and adapt to such beverages. Even if the people wanted to consume such beverages like Coke, their pockets pinched them and prevented them from purchasing such drinks.
The political, legal and competitive structure of the country also affects the business. Technology is another very important factor that impacts the international business. It is very important for the technology of the country to support the business processes, like distribution, manufacturing, promotions, etc.
Coca Cola needs to consider each of these international factors before making any business decisions.
- As per Poticha and Duncan (2019), the company believes that innovation should be beyond extensions of flavours.
- The innovation could be related to diversifying and developing new product range. It could also be tech-driven innovation. The company has been trying to analyse the data derived from the market and developing their business according to the market requirements. The innovations of Coca Cola are mostly customer-centric.
- The company has been innovating to enhance their formulas. They have also tried to improve their packaging.
- The company has been trying to conver its strategies towards developing the global marketing strategy of One Brand. They have united all its products including Diet Coca Cola, Coca Cola Zero, Coca Cola and Coca Cola Life under the banner of One Brand.
- They have also developed an innovative campaign titled ‘Taste the Feeling’ (de Medeiros and de Almeida Souza, 2018). These are all part of innovation of Coca Cola.
- Coca Cola has also been innovative in its digital marketing. The brand has used the digital technology for creating new experiences for the consumers. Their innovative digital marketing plans include the programs like sip and scan. This program allows the consumers to unlock prizes and experiences. They can avail the prizes by scanning the icons on the packages of Coke with the help of their mobile phones.
- The Coca Cola Freestyle mobile app is an innovation by the company for enhancing the branding. This app helps the operators to provide better beverage experience. This can be done without the involvement of the crew members. Through this app, The Coca Cola Freestyle locations are distinguished from the other locations that have no dispenser with such attributes like location finder.
- The other app which is an innovation of Coca Cola is the Coke Notify app for retailers. Through this app, the bottler associates of Coca Cola can submit their requests for equipment service (Schneider, Hilger-Kolb and Mata, 2020). However, only the authorised retailers have access to the Coke Notify app. The app is used by the employees of the Coca Cola Company and the ones who have been given the express permission by the company.
Innovations foster better branding of a company. Through innovation, strategic planning and effective marketing tools, Coca Cola has made its place in the international market. For an international brand like Coca Cola, innovation is needed for maintaining their brand position and giving a tough competition to their rivals. Coca Cola, over the years has faced and overcome several challenges and crisis. However, through new ideas, concepts and innovative moves, the company has ensured success for itself in the global market.
4. Business Model According to Kayabaº, Boyraz and Derdiyok (2017), among the most valuable brands of the world, Coca Cola holds the third position. The company is one of the most successful global brands. The products of Coca Cola are offered in every country for sale. In fact, they managed to enter Cuba and North Korea. The company has followed a marketing model that has been designed uniquely to boost the international recognition of the brand. The marketing strategies of Coca Cola are based on its marketing mix. The 4P’s are very important for Coca Cola to plan its business. Product, Place, Price and Promotion has been the deciding factors of Coca Cola’s success in business. Besides, the marketing model of Coca Cola has also included some other significant factors. The business canvas model of Coca Cola gives an insight into its process which helps it to sustain in the changing global business environment and address the changing consumer preferences.
Product : Coca Cola has realised that to succeed and sustain in the market it needs to diversify and have a huge range of products. The following products are manufactured and sold by Coca Cola: Coca Cola, Diet Coke, Coca Cola Life, Coca Cola Zero, Coca Cola Light, Sprite, Minute Maid, Fanta, Ciel, Dasani, Fresco, Simply Orange, Fuze Tea, Powerade Zero, Honest Tea, etc (Lacy-Nichols, Scrinis and Carey, 2018).
Classic Bottle : In 1915, Coca Cola introduced a competition for new bottle designing. This was a marketing strategy for defence (Miller, 2021). The company wanted to prove that they are a premium brand and way above the local cola producing companies. The outcome of the bottle contest was an appealing and strange shaped bottle. The bottle of Coke eventually became an icon.
Logo : The logo of Coca Cola was decided to be written in Spencerian script during 1923 (Pendergrast and Crawford, 2020). This was mainly to make the brand different from the competitors. The packaging has changed and adapted with the changing times. However, the logo and font along with the recipe remains unchanged for Coca Cola. The logo and font of Coca Cola is imprinted in the memory of the global customers as it has remained the same for more than 100 years now.
Pricing : Coca Cola had a fixed price and did not want to change it until it faced tough competition from its close rival, Pepsi. As Pepsi increased its prices, Coca Cola had to increase its price. They feared that people would consider their quality to be inferior and hence lowly priced. To maintain the quality price relationship as perceived by consumers, Coca Cola had to increase its prices.
Consistent : After so many years, even after gaining huge success in their business at the global platform, Coca Cola has remained consistent in its marketing strategy and brand message. They want to communicate their brand objective to offering pleasure to their customers. They have simple slogans like ‘enjoy’, ‘happiness’, ‘you can’t beat the feeling’, etc. which have enabled the global customers to associate with the brand (UNCU and ÇALI?IR, 2019).
Besides, the company has concentrated on personalisation, smart use of social media for promotions, maintaining global outreach etc. Their main aim is to create a better experience for their customers.
PESTEL Political factors : As per Kalashnikov and Lutsenko (2020), the changes in the nations’ laws and regulations, changes in the terms of business for non-alcoholic beverages, political condition of the country where it is operating and the regulations of Food and Drug Administration (FDA) are some of the political factors that impact the business of Coca Cola.
Economic factors : The employment rate of a country where it has its business, the economic growth of nation, monetary policies, consumer confidence, inflation rate and fluctuations in different currencies are some of the economic factors that affects the global business of Coca Cola (Zhavoronkova, Miziuk and Zhavoronkov, 2020).
Social factors : As Coca Cola produces drinks for pleasure of the customers, the lifestyle factors, demographic influence and income distribution affects its business.
Technological factors : The changes in technology across the world, the innovation of new techniques and machinery and influence of international know-hows are some of the technological factors influencing the business of Coca Cola.
Environmental factors : The attitude of customers towards carbonated or unhealthy beverages, the concern for environment and water wastage, the environmental regulations, etc. affect the business of Coca Cola (Bista, 2019).
Legal factors : Among the legal factors, the taxation policies, the food and beverage industry regulations, health and safety regulations, impact the business of Coca Cola.
6. Coca Cola and App Annie The global customers consume the products of Coca Cola around 1.7 billion times per day, accounting for 19,400 drinks per second (Kumar and Mittal, 2020). Most of the consumers of this multifaceted brand associate with it at secondary outlets like stadiums or grocery stores. Thus, proper data on consumers or marketing opportunities and challenges is required by the brand. Coca Cola is partnering with different retailers and optimizing their own app as well. Coca Cola depends on App Annie for its intelligence and dataset. The data from App Annie helps the company to gain actionable data which gives a clearer picture of the digital landscape.
Coca Cola uses this data from App Annie to understand the optimisation of keywords, colour schemes, etc. that is seen in the media buys’ screenshots. The science is added to the marketing strategies of Coca Cola through the dataset of App Annie. Coca Cola uses the data from App Annie for varied purposes. The data from App Annie is vital for learning and development of Coca Cola. It drives the company and its customers forward (GaYÁ, 2017). The app enhances the experience of mobile ordering for food services, engages the customers in user base and new features, etc. App Annie’s data brings about bottom-line growth in Coca Cola Company, while enhancing consumer experience and strengthening the distribution network. Therefore, it can be said that Coca Cola is dependent on App Annie for delighting and amazing its customers and maintaining best standards of marketing.
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Bista, S., 2019. Sustainability in Business (A critique of environmental sustainability practices in Coca-Cola and Unilever).
Bridgens, B., Powell, M., Farmer, G., Walsh, C., Reed, E., Royapoor, M., Gosling, P., Hall, J. and Heidrich, O., 2018. Creative upcycling: Reconnecting people, materials and place through making. Journal of Cleaner Production, 189, pp.145-154.
Chua, J.Y., Kee, D.M.H., Alhamlan, H.A., Lim, P.Y., Lim, Q.Y., Lim, X.Y. and Singh, N., 2020. Challenges and Solutions: A Case Study of Coca-Cola Company. Journal of the Community Development in Asia, 3(2), pp.43-54.
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GaYÁ, R.E., 2017. Strengthening knowledge based services in Argentina. Marketing Assignment RAM. Revista de Administração Mackenzie, 18(6), pp.96-123.
Gbadamosi, A., 2019. A Conceptual Overview of Consumer Behavior in the Contemporary Developing Nations. Exploring the Dynamics of Consumerism in Developing Nations, pp.1-30.
Kalashnikov, S. and Lutsenko, R., 2020. Investment analysis of Coca Cola Hellenic Bottling Company. ?????? ???????????? ????????????? ???????????? ????? ?? ???????? ????? «??????????», (98), pp.145-157.
Kayabaº, T.D., Boyraz, G. and Derdiyok, R., 2017. Examining Coca-Cola and Pepsi Brands under the Basis of Globalisation and Multinational Companies. International Journal of Academic Research in Business and Social Sciences, 7(12), pp.351-358.
Kim, M.Y., Moon, S. and Iacobucci, D., 2019. The Influence of Global Brand Distribution on Brand Popularity on Social Media. Journal of International Marketing, 27(4), pp.22-38.
Kumar, V. and Mittal, S., 2020. Mobile marketing campaigns: practices, challenges and opportunities. International Journal of Business Innovation and Research, 21(4), pp.523-539.
Lacy-Nichols, J., Scrinis, G. and Carey, R., 2020. The evolution of Coca-Cola Australia’s soft drink reformulation strategy 2003–2017: A thematic analysis of corporate documents. Food Policy, 90, p.101793.
Miller, B.M., 2021. Food on display: Design techniques of the food exhibits of the New York World’s Fair of 1939-40. Food, Culture & Society, 24(2), pp.244-268.
Moravcikova, D. and Kliestikova, J., 2017. Brand building with using phygital marketing communication. Journal of Economics, Business and Management, 5(3), pp.148-153.
Pendergrast, M. and Crawford, R., 2020. 1 Coke and The Coca-Cola Company. Decoding Coca-Cola: A Biography of a Global Brand, p.11.
Pomering, A., 2017. Marketing for sustainability: Extending the conceptualisation of the marketing mix to drive value for individuals and society at large. Australasian Marketing Journal (AMJ), 25(2), pp.157-165.
Poticha, D. and Duncan, M.W., 2019. Intellectual property—The Foundation of Innovation: A scientist's guide to intellectual property. Journal of Mass Spectrometry, 54(3), pp.288-300.
Prasertsakul, D. and Worawitphinyo, T., 2020. Underlying Factors Towards the Willingness to Use Functional Drinks in Bangkok, Thailand. Executive Journal, 40(2), pp.51-63.
Schneider, S., Hilger-Kolb, J. and Mata, J., 2020. „So good it might become an addiction “–Ein kritischer Kommentar zur Markteinführung der neuen Coca-Cola-Freestyle-Automaten. Adipositas-Ursachen, Folgeerkrankungen, Therapie, 14(03), pp.153-157.
Serôdio, P.M., McKee, M. and Stuckler, D., 2018. Coca-Cola–a model of transparency in research partnerships? A network analysis of Coca-Cola’s research funding (2008–2016). Public health nutrition, 21(9), pp.1594-1607.
Tran, V.T., 2021. Exhibiting Coca-Cola at universal exhibitions. Food, Culture & Society, 24(2), pp.269-290.
UNCU, G. and ÇALI?IR, G., 2019. FROM PAST TO PRESENT; EVOLUTION OF THE LOGOS: APPLE, SHELL & COCA COLA CASES. Social Sciences, 14(5), pp.2623-2640.
Zhavoronkova, G., Miziuk, S. and Zhavoronkov, V., 2020. The influence of transnational corporations on the economy of developing countries (Contemplating the example of how the Coca–Cola Company influences the economy of Ukraine). Science. Business. Society., 5(1), pp.9-13.
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Introduced more than 120 years back, Coca-Cola is still the most sipped soda worldwide, with a staggering 1.9 billion servings daily spanning 200+ countries. The brand has always been enthusiastic about engaging customers more effectively. The robust Coca Cola Marketing Strategy has been able to invigorate the masses over the years, ranking as the world's largest manufacturer and licensor of 3,500 nonalcoholic beverages.
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Coca-Cola Target Audience
Coca-cola has colossal brand recognition as it targets every customer in the market. Its perfect marketing segmentation is a major reason behind its success.
- Firstly, the company targets young people between 10 and 35. They use celebrities in their advertisements to attract them and arrange campaigns in universities, schools, and colleges.
- They also target middle-aged and older adults who are diet conscious or diabetic by offering diet coke.
Income and Family Size
It introduces packaging and sizes priced at various levels to increase affordability and target students, middle class, and low-income families and individuals.
Coca-Cola sells its products globally and targets different cultures, customs, and climates. For instance, in America, it is liked by older people too. So, the company targets different segments. It also varies the change accordingly, like the Asian version is sweeter than other countries.
Coca-Cola targets individuals as per their gender. For example, Coca-Cola light is preferred by females, while coke zero and thumbs up are men's favorite due to their strong taste.
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Coca-Cola Marketing Channels
Coca-Cola initially employed an undifferentiated targeting strategy. In recent times, it has started localizing its products for better acceptability. It incorporates two basic marketing channels : Personal and Non-personal.
Personal channels include direct communication with the audience. Non-personal marketing channels include both online and offline media, such as
- Promotion Campaigns
- PR activities
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Coca-Cola Marketing Strategy
A uniquely formulated Coca Cola marketing strategy is behind the company's international reach and widespread popularity. The strategy can be broken down into the following:
Coca-cola has approximately 500 products. Its soft drinks are offered globally, and its product strategy includes a marketing mix. Its beverages like Coca-Cola, Minute Maid, Diet Coke, Light, Coca-Cola Life, Coca-Cola Zero, Sprite Fanta, and more are sold in various sizes and packaging. They contribute a significant share and generate enormous profits.
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Coca-Cola's price remained fixed for approximately 73 years at five cents. The company had to make its pricing strategy flexible with the increased competition with competitors like Pepsi. It doesn't drop its price significantly, nor does it increase the price unreasonably, as this would lead to consumers doubting the product quality and switching to the alternative.
Coca-cola has a vast distribution network. It has six operating regions: North America, Latin America, Africa, Europe, the Pacific, and Eurasia. The company's bottling partners manufacture, package, and ship to the agents. The agents then transport the products by road to the stockist, then to distributors, to retailers, and finally to the customer. Coca-Cola also has an extensive reverse supply chain network to collect leftover glass bottles for reuse. Thus, saving costs and resources.
Coca-Cola’s Global Marketing
Coca-Cola employs different promotional and marketing strategies to survive the intense competition in the market. It spends up to $4 million annually to promote its brand , utilizing both traditional and international mediums for advertisements.
Classic Bottle, Font, and Logo
Coca-Cola organized a global contest to design the bottle. The contest winner used the cocoa pod's design, and the company used the same for promoting its shape and logo. Its logo, written in Spencerian script, differentiates it from its competitors. The way Coca-cola uses its logo in its marketing strategy ensures its imprint on consumers' minds.
Coca-Cola’s Gripping Advertisements
The recent 'Share a coke' campaign, launched in 2018 in almost fifty countries, has been quite a success. The images of celebrities of that region and messages according to the local language and culture of the area target the local market.
Coca-Cola Advertisement Featuring Celebrities
The company is a well-recognized brand for its sponsorships, including American Idol, the NASCAR, Olympic Games, and many more. Since the 1928 Olympic Games, Coca-Cola has partnered on each event, helping athletes, officials and fans worldwide.
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With technological advancement, social media and online communication channels have become the most significant part of the Coca-Cola marketing strategy. It actively uses online digital marketing platforms like Facebook , Twitter, Instagram, YouTube, and Snapchat to post images, videos, and more. The Coca Cola marketing strategy primarily includes SEO , email marketing , content marketing , and video marketing .
Coca-Cola’s Instagram Posts
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The Marketing Strategy of Coca-Cola: A Comprehensive Analysis
Introduced 120 years ago, Coca-Cola remains the most consumed soda in the world, with an astonishing 1.9 billion servings enjoyed daily in more than 200 countries. Throughout its rich history, the brand has consistently demonstrated a deep commitment to connecting customers in more effective ways. This unwavering dedication to consumer connection has led Coca-Cola to its current position as the world’s largest manufacturer and licensor of more than 3,500 non-alcohol beverages.
Coca-Cola’s enduring appeal and its steadfast presence as a global beverage leader serve as testament to the enduring power of its marketing strategy.
Coca-Cola Target Audience:
Coca-Cola boasts enormous brand recognition, and one of the key factors in its success is its careful approach to target audience segmentation.
Firstly, the company strategically targets youth in the age group of 10 to 35 years. To capture this demographic, Coca-Cola leverages celebrity endorsements in its advertisements and conducts promotional campaigns within universities, schools and colleges.
Additionally, Coca-Cola also appeals to middle-aged and older adults who are health-conscious or suffer from diabetes by offering products such as Diet Coke.
Income and family size:
Coca-Cola adopts a diversified pricing strategy, offering packaging and sizes with different price points. This approach aims to increase affordability and cater to a wide range of consumers, including students, middle-class families, and low-income individuals and small families.
Coca-Cola’s astute understanding of its target audience and ability to tailor its marketing efforts accordingly has been instrumental in maintaining its enduring global popularity.
Coca-Cola’s global presence is underlined by a deep awareness of the diversity in cultures, customs and climates in different regions. Brands adapt their marketing strategies to address these differences. For example, in the United States, Coca-Cola is popular among older demographics, demonstrating its appeal to different age groups. This adaptability allows the company to effectively target different sections of the population.
Additionally, Coca-Cola adapts its products to regional preferences. For example, the Asian version tends to be sweeter than those from other countries, acknowledging different taste preferences.
Coca-Cola also tailors its marketing efforts to gender demographics, recognizing that different products may appeal more to specific gender groups:
- Coca-Cola Light is often preferred by women, indicating a lighter, more calorie-conscious option that meets their preferences.
- On the other hand, Coke Zero and Thums Up are preferred by men due to their stronger and stronger flavor profiles to suit their taste preferences.
This thoughtful approach to gender-specific marketing ensures that Coca-Cola’s products connect effectively with a broad spectrum of consumers, further strengthening its global market presence.
Coca-Cola Marketing Channels:
Coca-Cola’s marketing strategy has evolved over time, transitioning from an undifferentiated targeting approach to a more localized and personalized approach. Companies effectively employ two basic categories of marketing channels: personal and non-personal.
Coca-Cola leverages personal channels for direct communication with its audience. This approach allows for a more intimate and one-on-one relationship with consumers, increasing engagement and brand loyalty.
Non-Personal Marketing Channels:
Coca-Cola also uses non-personal marketing channels, which include both online and offline media. These channels serve as powerful tools for reaching a wider audience and include:
- Newspaper : Traditional print media to reach a wide readership.
- Publicity Campaign : Marketing campaign customized to generate buzz and attract consumers.
- Events : Attending or organizing events to engage directly with customers.
- Television : High-impact visual advertising on television networks.
- Posters : Attractive visuals displayed at strategic locations.
- Email : Using email marketing for personal communication.
- Webpages : Maintaining an online presence with informative and interactive websites.
- Leaflet : Printed material distributed to provide information and publicity.
- Billboard : Large scale outdoor advertising for high visibility.
- PR Activities : Public relations efforts to maintain a positive brand image.
- Social Media : Connecting with consumers through popular social media platforms.
- Magazines : Advertising and feature placement in various publications.
- Radio : The use of audio advertising for auditory engagement.
Coca-Cola’s use of personal and non-personal marketing channels reflects its adaptability in engaging with diverse audiences across various platforms, thereby ensuring a broad and sustainable brand presence.
Coca-Cola Marketing Strategy:
Coca-Cola’s global reach and enduring popularity are the result of a carefully crafted marketing strategy. This strategy involves various aspects, including:
Coca-Cola boasts of an extensive product portfolio, comprising approximately 500 distinct products. These soft drinks are distributed globally and are strategically positioned within a broad marketing mix. Branded beverages, such as Coca-Cola, Minute Maid, Diet Coke, Coca-Cola Light, Coca-Cola Life, Coca-Cola Zero, Sprite, Fanta and more, are available in a variety of sizes and packaging options. , , This wide product range not only achieved a significant market share, but also generated substantial profits, allowing Coca-Cola to cater to a broad spectrum of consumer preferences and tastes.
Coca-Cola’s pricing strategy has evolved significantly over the years. While the company famously maintained a fixed price of five cents for nearly 73 years, it had to adapt to changing market dynamics and increasing competition, particularly from rivals such as Pepsi. Coca-Cola now adopts a flexible pricing strategy that strikes a delicate balance. This avoids steep price drops that could weaken perceptions of product quality, while also avoiding unreasonable price increases that could push consumers toward alternatives. The goal of this strategy is to ensure both affordability and perceived value to customers.
Coca-Cola boasts of a wide distribution network that extends its reach to every corner of the world. The company is organized into six operating regions: North America, Latin America, Africa, Europe, Pacific and Eurasia. Within this framework, Coca-Cola’s bottling partners play a key role in the manufacturing, packaging and shipping of its products to agents. These agents are responsible for transporting products by road to stockists, then to distributors and finally to retailers, thereby ensuring wide availability to consumers.
Coca-Cola’s commitment to sustainability is also evident in its extensive reverse supply chain network, which facilitates the collection and reuse of glass bottles. This sustainable practice not only reduces environmental impact but also contributes to cost efficiency and resource conservation, thereby enhancing the brand’s reputation and global market presence.
To thrive in the fiercely competitive market, Coca-Cola deploys a diverse range of promotional and marketing strategies. Annually investing up to $4 million in brand promotion, the company leverages a combination of traditional and international advertising channels to effectively reach its target audience. These strategies not only reinforce Coca-Cola’s brand identity but also help it maintain a strong market presence amidst intense competition.
Classic Bottle, Font, and Logo:
Coca-Cola’s iconic bottle, font, and logo have played a pivotal role in establishing its distinctive brand identity. Here’s a closer look at this integral aspect of Coca-Cola’s marketing strategy:
- Bottle Design: Coca-Cola organized a global contest to design its now-famous bottle. The winning design drew inspiration from the cocoa pod’s shape, and this unique bottle shape became a focal point in the brand’s marketing efforts.
- Logo: Coca-Cola’s logo, written in the elegant Spencerian script, sets it apart from its competitors. This distinctive typography is not only visually appealing but also deeply memorable. The brand strategically uses its logo in its marketing strategy to ensure it leaves a lasting imprint on consumers’ minds.
Coca-Cola’s commitment to maintaining the integrity of its classic bottle, font, and logo serves as a testament to the enduring power of consistent branding and design in the world of marketing.
Localized Positioning: Achieving Success through the ‘Share a Coke’ Campaign
Launched in 2018 across nearly fifty countries, the ‘Share a Coke’ campaign has emerged as a resounding success story. By featuring images of local celebrities and crafting messages that resonate with the local language and culture in each respective region, this campaign effectively targets and engages with the local market.
Our company has established a strong reputation for its sponsorship initiatives, including high-profile events such as American Idol, NASCAR, the Olympic Games, and many others. Starting with the 1928 Olympic Games, Coca-Cola has consistently been a dedicated partner of each event, providing support to athletes, officials and fans on a global scale.
In line with the ever-evolving technological landscape, social media and online communication channels have assumed paramount importance within the framework of Coca-Cola’s marketing strategy. The company actively leverages various online digital marketing platforms including Facebook, Twitter, Instagram, YouTube and Snapchat to disseminate a rich array of content including images, videos and more. Key components of Coca-Cola’s marketing strategy in the digital sphere include SEO, email marketing, content marketing and video marketing.
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Streamlined Portfolio of Brands, Marketing and Innovation to Power Coke’s 2021 Strategy
The Coca‑Cola Company is emerging from the pandemic poised for growth with a leaner lineup of high-potential brands and a more disciplined, consumer-centric approach to marketing and innovation, Chairman and CEO James Quincey said Feb. 19 at the Consumer Analyst Group of New York (CAGNY) virtual conference .
“We went into this crisis in a strong position,” Quincey said on Feb. 19. “We had some good results in 2018 and 2019 and, importantly, we leveraged the 2020 crisis as a catalyst to accelerate the business transformation that was already underway.”
Step one was a deep, data-driven analysis of the company’s global beverage portfolio that ultimately trimmed its total number of master brands from 400 to approximately 200 global, regional and local offerings with strong scale potential.
“We've recentered ourselves on being consumer-centric with our marketing and being powered by greater effectiveness and efficiency, complementing that with a robust innovation pipeline balancing big bets with ongoing intelligent experimentation,” Quincey said on Feb. 19.
Global category leads will focus on building the newly optimized portfolio – which spans all drinking occasions and dayparts – through insights-powered marketing that “tells a brand story in a relatable way”.
One of the first major outputs of the company’s revamped marketing model is the upcoming launch of the first-ever global campaign for Sprite, “Let’s Be Clear”, which will roll out in more than 50 markets this year with creative including TV and digital films, outdoor and print advertising, and user-generated digital and social content.
“It's a powerful example of how we've leveraged our networked way of working,” said Quincey, adding that the campaign will promote the recently reformulated Sprite Zero. Markets around the world came together to align strategically and seek common ground, based in human insight and focused on occasion-based marketing.
A more rigorous focus on resource allocation will boost the impact of “fewer, bigger” integrated campaigns and fuel brand reinvestment by consolidating media planning, streamlining agency rosters and reusing marketing assets aligned with passion points like music and gaming.
The company’s 2021 innovation pipeline will include a 40% increase in projects, managed with an equally disciplined approach.
“Innovation must be more than flavor extensions,” Quincey said. “It can also be tech-driven, or include enhancing our packaging or formulas, but in the end it must be consumer-centric.”
He added, “We're looking, yes, for more innovation – but also more impact.”
While the bulk of the company’s innovation efforts will focus on core categories, teams will continue take a test-and-learn approach in adjacent, emerging segments through offerings like Costa coffee and forays into alcoholic beverages via Lemon-Do (Japan) and Topo Chico Hard Selzer.
Chief Financial Officer John Murphy said these core strategies will convert top-line growth into sustainable value creation. “Our emerging stronger priorities and the acceleration of our transformation have been designed to get us back to this long-term growth algorithm as fast as possible,” he said.
The pandemic accelerated Coke’s transformation into a digitized, data-driven organization that can execute marketing, commercial, sales and distribution strategies in both the online and physical worlds. A new appointed O2O (online-to-offline) digital transformation officer and new chief data officer, combined with digital tools, will facilitate more efficient marketing, brand building and improved execution.
“We've reshaped the organization around this opportunity,” Quincey said. “It's still early days, but these digital investments are starting to transform logistics, transform the entire distribution model, transform client relationships, and transform how consumers engage with the company and our brands.”
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Assignment Sample Coca-Cola Global Marketing Strategy Global Marketing Strategy: Standardization or Adaptation -Coca-Cola Case Study
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The purpose of this research was to analysis the efficiency of global strategies. This paper identified six key strategies necessary for firms to be successful when expanding globally. These strategies include differentiation, marketing, distribution, collaborative strategies, labor and management strategies, and diversification. Within this analysis, we chose to focus on the Coca-Cola Company because they have proven successful in their international operations and are one of the most recognized brands in the world. We performed an in-depth review of how effectively or ineffectively Coca-Cola has used each of the six strategies. The paper focused on Coca-Cola's operations in the United States, China, Belarus, Peru, and Morocco. The author used electronic journals from the various countries to determine how effective Coca-Cola was in these countries. The paper revealed that Coca-Cola was very successful in implementing strategies regardless of the country. However, the author learned that Coca-Cola did not effectively utilize all of the strategies in each country.
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Coca-Cola Segmentation, Targeting, and Positioning
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Coca-cola is generally tagged as the 'soft drink' of the world (Bell 2004). The company started selling its drink in 1886 when Dr. John S Pemberton charged his customers five cents per bottle. Since then, the brand has become the leading soft manufacturer globally with over 700,000 employees with more than 500 brands.
The company has been very successful in its campaign that it has solidified its status to be one of the icons in American culture. As it continues to expand globally, Coca-Cola partnered with several bottlers worldwide to go over all the processes of every product.
Behind the company's success is a marketing approach that typically guides Coca-Cola to market its products. Most companies generally classify their marketing strategies into different categories. As with Coca-Cola, market segmentation, targeting, and positioning are three essential factors that helped the company effectively cater to its target customers.
The subsequent chapters of this article will analyze these three variables in Coca-Cola's marketing strategy. This can also serve as a guide for startups to formulate their marketing approach.
Market Segmentation of Coca-Cola
Market segmentation refers to classifying potential markets in segments or groups with common needs and responding similarly to a specific marketing action. This approach allows firms to target various categories of customers that perceive the absolute value of particular products and services variable from one another.
Coca-Cola's market segmentation focuses on four various elements, namely geographic, demographic, psychographic, and behavioral. Coca-Cola might have originated from the United States, but it has expanded its brand to various countries across the globe over the years. The company's geographic segmentation aims to drive the market into different geographical units, including cities, regions, and neighborhoods. While Coca-Cola might be focusing on urban and suburban areas, it also ensures a countrywide product distribution network. This is in the realization that as the company expands, there is a demand from those in rural areas.
Meanwhile, the demographic segmentation of Coca-Cola is divided into sub-segments based on various variables like age, occupation, family life cycle, race, religion, generation, social class, and nationality. These variables are the most popular basis of Coca-Cola to distinguish customers groups. The psychographic element of the Coca-Cola market segmentation is categorized into different groups based on lifestyle, personality, or values.
The behavioral variable is the final element in Coca-Cola's marketing segmentation. It generally focuses on the customers' knowledge of, use of, response, and attitude towards its products. Most marketers treat the behavioral variables as excellent starting points for formulating market segments.
Targeting of Coca-Cola
Coca-Cola's targeting strategy is broader, not only because of its global presence in the market but also with the several products that they provide. There is also the need to satisfy various customers, ranging from average to health-conscious ones. The primary target of Coca-Cola is younger customers within the age bracket of 10-25 and a secondary market composed of people aged 25-40.
The company targets the market that desires an intense flavor with their regular cola drinks in terms of taste. Meanwhile, diet cola drinks and their variants target those customers that are health conscious. Coca-Cola campany has also expanded its product to non-cola beverages to target those not fond of drinking its regular cola drinks. A Coca-Cola product such as Sprite is specifically designed to target teens and college students, while others target the young working group.
Positioning of Coca-Cola
Positioning tackles how products will stand with the competition, which offers the same products and services in the market and customers' minds. An excellent positioning transforms a product into a unique one, making customers consider using it. In a marketplace with various cluttered products showcasing similar benefits, an effective positioning strategy makes the product stand out among others and creates curiosity from customers.
With Coca-Cola, it positions its products as thirst-quenching and refreshing. The products they offer are said to bring joy to its target market. The drinks and other products from Coca-Cola are also associated with having a great time with family and friends while enjoying daily life. Additionally, the company also markets its products consistently and of premium quality.
For those looking for high-quality drinks, one of the names that will surely come into their minds will be Coca-Cola. The company has an extensive selection of refreshments; each offers a positive experience for consumers. In contrast to other beverage brands, Coca-Cola brands itself as a product that provides happiness and positive in customers' lives. Ultimately, the company's primary focus is to cater to the needs and preferences of its global customers.
Table of Coca-Cola Segmentation, Targeting, and Positioning
The Coca-Cola market segmentation, targeting, and positioning variables are comprehensively described above. You can refer to this table below for a simplified list of how the company categorized these variables and principles.
Bonus: Four More Types of Analysis of Coca-Cola
Unleash your marketing prowess with these insightful templates. Delve into the realm of Coca-Cola's segmentation, targeting, and positioning diagrams. Explore the templates to understand Coca-Cola's marketing strategies better and enhance your brand's competitive edge.
Coca-Cola Marketing Mix
The Coca-Cola diagram analysis below dissects key aspects of Coca-Cola's marketing strategy. It covers Products (Coke, Sprite, Powerade), Places (restaurants, vendors, grocery stores), Prices (price discrimination), and Promotions (TV ads, social media, print media, billboards, digital marketing).
The diagram is valuable for marketers, students, and analysts seeking to understand Coca-Cola's successful strategies. It provides a visual framework to examine their product range and distribution channels. The diagram also tackles pricing tactics and promotional methods. It's useful for devising marketing plans or evaluating strategies in the beverage industry.
Coca-Cola BCG Matrix
The circular diagram features the main categories on the outer ring. The topic involves stakeholders, legal, economic, environmental, social, technology, and political. Each category branches into specific subtopics, with varying numbers of subtopics. Some contain one, while others have up to ten.
The Coca-Cola BCG Matrix visually represents the company's product portfolio into four segments. The segments are Stars (including Maaza, Kinley, and Thums Up), Question Marks (Fanta and Sprite), Cash Cows (Limca and Coca-Cola), and Dogs (Diet Coke and Minute Maid).
Use the matrix when analyzing a company's product portfolio. In the diagram below, Coca-Cola determines where each product stands in terms of market growth and market share. It helps them allocate resources, such as investing in "Stars" for further growth or optimizing mature "Cash Cows." It's an essential tool for strategic product management and marketing planning.
Coca-Cola PESTEL Analysis
The PESTEL diagram tackles the external factors affecting the company's operations across six key dimensions. It starts with Political (compliance with FDA and labor laws), Economic (adapting to changing consumer preferences and health trends), Social (enhancing market efforts in specific regions like Japan and China), Technological (leveraging social media for marketing), Environmental (managing operations in water-rich areas), and Legal (ensuring comprehensive legal rights).
The diagram below is valuable when conducting strategic assessments or risk analysis. It comprehensively explains the diverse influences on Coca-Cola's business environment.
Coca-Cola VS PepsiCo
The mind map below is a concise template that explores key aspects of both companies' operations. It branches into branding, advertising, marketing, supply chain, procurement of raw materials, and manufacturing. Within each branch, it analyzes Coca-Cola and PepsiCo, enabling easy and direct comparison.
This mind map is useful for competitive analysis, market research, or strategic planning. You can grasp the similarities and differences between the two major players in the beverage industry. The one-page format enhances its accessibility. It is great for assessing the strategies, strengths, and weaknesses of Coca-Cola and PepsiCo.
The diagram effectively conducts corporate analysis, sustainability reports, or stakeholder management. It aids in categorizing various factors influencing Coca-Cola's operations. The use of color coding simplifies complex information. It's easier for stakeholders, analysts, and decision-makers to assess the company's performance. They can easily align strategies or ensure compliance with environmental and legal standards.
Suppose you are to open your beverage store, Coca-Cola's marketing approach can be helpful. The company might be a giant one, but several principles are also applicable for startups, looking at its marketing treatment. It is just a matter of localizing each variable to fit into your brand's marketing approach. The diagram and discussion above can also be helpful if you are studying marketing and plan to create your first marketing strategy using marketing segmentation, targeting, and positioning principles.
It can also be beneficial to organize all the components through mind mapping software, similar to what was illustrated above. EdrawMind is a user-friendly mind mapping tool that offers a straightforward process for creating mind maps online. If you want it to look playful, you can even put images, shapes, and other elements to your diagram. The interface is easy to navigate, giving first-time users ease. If you find it a handful to make your mind map structure, you can use pre-built templates of the Market Segmentation and STP Analysis. The templates will provide you with a framework, and all you have to do is input the information on the diagram. The software is also very flexible as users can either work on their mind maps through a browser or from their desktops.
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Marketing plan Coca Cola
Giant soft drink company Coca Cola has come under intense scrutiny by investors due to its inability to effectively carry out its marketing program. Consequently it is seeking the help of Polianitis Marketing Company Pty Ltd to develop a professional marketing plan which will help the business achieve it’s objectives more effectively and efficiently, and inevitably regain there iron fist reign on the soft drink industry.
When establishing a re-birthed marketing plan every aspect of the marketing plan must be critically examined and thoroughly researched. This consists of examining market research, auditing business and current situation (situation analysis) and carefully scrutinising the soft drink industry and possibilities for Coca Cola in the market. Once Coca Cola have carefully analysed the internal and external business environment and critically examined the industry in general the most suitable marketing strategies will be selected and these strategies will be administered by effectively and continually monitoring external threats and opportunities and revising internal efficiency procedures.
Situation Analysis on Coca Cola
Market Analysis : The market analysis investigates both the internal and external business environment. It is vital that Coca cola carefully monitor both the internal and external aspects regarding it’s business as both the internal and external environment and their respective influences will be decisive traits in relation to Coke’s success and survival in the soft drink industry.
Internal Business Environment
The internal business environment and its influence is that which is to some extent within the business’s control. The main attributes in the internal environment include efficiency in the production process, through management skills and effective communication channels. To effectively control and monitor the internal business environment, Coke must conduct continual appraisals of the business’s operations and readily act upon any factors, which cause inefficiencies in any phase of the production and consumer process.
External Business Environment
The External business environment and its influences are usually powerful forces that can affect a whole industry and, in fact, a whole economy. Changes in the external environment will create opportunities or threats in the market place Coca cola must be aware off. Fluctuations in the economy, changing customer attitudes and values, and demographic patterns heavily influence the success of Coka Cola’s products on the market and the reception they receive from the consumers.
SWOT Analysis :
SWOT stands for Strengths Weakness Opportunities Threats. SWOT analysis is a technique much used in many general management as well as marketing scenarios. SWOT consists of examining the current activities of the organisation- its Strengths and Weakness- and then using this and external research data to set out the Opportunities and Threats that exist.
Strengths: Coca-Cola has been a complex part of world culture for a very long time. The product’s image is loaded with over-romanticizing, and this is an image many people have taken deeply to heart. The Coca-Cola image is displayed on T-shirts, hats, and collectible memorabilia. This extremely recognizable branding is one of Coca-Cola’s greatest strengths. “Enjoyed more than 685 million times a day around the world Coca-Cola stands as a simple, yet powerful symbol of quality and enjoyment” (Allen, 1995). Additionally, Coca-Cola’s bottling system is one of their greatest strengths. It allows them to conduct business on a global scale while at the same time maintain a local approach. The bottling companies are locally owned and operated by independent business people who are authorized to sell products of the Coca-Cola Company. Because Coke does not have outright ownership of its bottling network, its main source of revenue is the sale of concentrate to its bottlers.
Weaknesses: Weaknesses for any business need to be both minimised and monitored in order to effectively achieve productivity and efficiency in their business’s activities, Coke is no exception. Although domestic business as well as many international markets are thriving (volumes in Latin America were up 12%), Coca-Cola has recently reported some “declines in unit case volumes in Indonesia and Thailand due to reduced consumer purchasing power.” According to an article in Fortune magazine, “In Japan, unit case sales fell 3% in the second quarter [of 1998]…scary because while Japan generates around 5% of worldwide volume, it contributes three times as much to profits. Latin America, Southeast Asia, and Japan account for about 35% of Coke’s volume and none of these markets are performing to expectation. Coca-Cola on the other side has effects on the teeth which is an issue for health care. It also has got sugar by which continuous drinking of Coca-Cola may cause health problems. Being addicted to Coca-Cola also is a health problem, because drinking of Coca-Cola daily has an effect on your body after few years.
Opportunities: Brand recognition is the significant factor affecting Coke’s competitive position. Coca-Cola’s brand name is known well throughout 94% of the world today. The primary concern over the past few years has been to get this name brand to be even better known. Packaging changes have also affected sales and industry positioning, but in general, the public has tended not to be affected by new products. Coca-Cola’s bottling system also allows the company to take advantage of infinite growth opportunities around the world. This strategy gives Coke the opportunity to service a large geographic, diverse area.
Threats: Currently, the threat of new viable competitors in the carbonated soft drink industry is not very substantial. The threat of substitutes, however, is a very real threat. The soft drink industry is very strong, but consumers are not necessarily married to it. Possible substitutes that continuously put pressure on both Pepsi and Coke include tea, coffee, juices, milk, and hot chocolate. Even though Coca-Cola and Pepsi control nearly 40% of the entire beverage market, the changing health-consciousness of the market could have a serious affect. Of course, both Coke and Pepsi have already diversified into these markets, allowing them to have further significant market shares and offset any losses incurred due to fluctuations in the market. Consumer buying power also represents a key threat in the industry. The rivalry between Pepsi and Coke has produce a very slow moving industry in which management must continuously respond to the changing attitudes and demands of their consumers or face losing market share to the competition. Furthermore, consumers can easily switch to other beverages with little cost or consequence.
Product Life cycle:
When referring to each and every product or service ever placed before the consumer i.e. in the long term all the existing products and services are dead. For e.g.:- Replacement of Ford Cortina ( a highly successful car) by Ford Sierra, the replacement of sierra by the Ford Mondeo and the replacement of the old Mondeo by the new Mondeo in 2001. So every product is born, grows, matures and dies. So in the commercial market place products and services are created, launched and withdrawn in a process known as Product Life Cycle. To be able to market its product properly, a business must be aware of the product life cycle of its product. The standard product life cycle tends to have five phases: Development, Introduction, Growth, Maturity and Decline. Coca-Cola is currently in the maturity stage, which is evidenced primarily by the fact that they have a large, loyal group of stable customers. Furthermore, cost management, product differentiation and marketing have become more important as growth slows and market share becomes the key determinant of profitability. In foreign markets the product life cycle is in more of a growth trend Coke’s advantage in this area is mainly due to its establishment strong branding and it is now able to use this area of stable profitability to subsidize the domestic Cola Wars. Insert the picture of the product lifecycle
Marketing Objectives The objective is the starting point of the marketing plan. Objectives should seek to answer the question ‘Where do we want to go?’. The purposes of objectives include:
-> to enable a company to control its marketing plan. -> to help to motivate individuals and teams to reach a common goal. -> to provide an agreed, consistent focus for all functions of an organization.
All objectives should be SMART i.e. Specific, Measurable, Achievable, Realistic, and Timed.
Specific – Be precise about what you are going to achieve Measurable – Quantify you objectives Achievable – Are you attempting too much? Realistic – Do you have the resource to make the objective happen (men, money, machines, materials, minutes)? Timed – State when you will achieve the objective (within a month? By February 2010?)
1.Market Share Objectives: To gain 60% of the market for soft drink industry by September 2007.
2.Profitability Objectives: To achieve a 20% return on capital employed by August 2007
3. Promotional Objectives To increase awareness of the product on the market. 4. Objectives for Survival To survive the current market war between competitors.
5. Objectives for Growth To increase the size of the worldwide Coca Cola enterprise by 10% .
Selecting Target Market Once the situation analysis is complete, and the marketing objectives determined, attention turns to the target market. The soft drink market is very large, and the business cannot be “all things to all people”, so it must choose which market segments have the greatest potential. The target market is the group of customers on whom the business focuses attention. The target market is where Coca Cola focuses its marketing efforts as it feels this is where it will be most productive and successful. The target market for Coca cola is very wide as it satisfy’s the needs for many different consumers, ranging from the healthy diet consciousness through Diet Coke to the average human through its best selling drink regular Coke. Most Coke products satisfy all age groups as it is proven that most people of different age groups consume the Coca Cola product. This market is relatively large and is open to both genders, thereby allowing greater product diversification. There are four broad ways which Coca Cola can segment its market: -> Mass marketing -> Concentrated marketing -> Differentiated marketing -> Niche marketing The most apparent method used by Coca Cola is with no doubt the differentiated marketing method as Coke satisfy’s a range of different markets. Diet coke satisfy’s the weight consciousness, regular coke, sprite, fanta the average human, coffee, iced tea etc. Each group of beverages satisfy a particular group of people but majority the average human.
Developing The Marketing Mix The marketing mix is probably the most crucial stage of the marketing planning process. This is where the marketing tactics for each product are determined. The marketing mix refers to the combination of the four factors(price, promotion, product, place) that make up the core of a business’s marketing strategy. In this step of the marketing planning process, marketing mix must be designed to satisfy the wants of target markets and achieve the marketing objectives. The most successful businesses have continually monitored and changed their marketing mix due to respective internal and external factors and have monitored the external business environment in order to maximise their marketing mix components.
Product: Many Products are physical objects that you can own and take home. But the word product means much more than just physical goods. In marketing, product also refers to services, such as holidays or a movie, where you enjoy the benefits without owning the result of the service. Businesses must think about products on three different levels, which are the core product, the actual product and the augmented product. The core product is what the consumer is actually buying and the benefits it gives. Coca Cola customers are buying a wide range of soft drinks. The actual product is the parts and features, which deliver the core product. Consumers will buy the coke product because of the high standards and high quality of the Coca Cola products. The augmented product is the extra consumer benefits and services provided to customers. Since soft drinks are a consumable good, the augmented level is very limited. But Coca Cola do offer a help line and complaint phone service for customers who are not satisfied with the product or wish to give feedback on the products.
Positioning Once a business has decided which segments of the market it will compete in, developed a clear picture of its target market and defined its product, the positioning strategy can be developed. Positioning is the process of creating, the image the product holds in the mind of consumers, relative to competing products. Coca Cola and Franklins both make soft drinks, although Franklins may try to compete they will still be seen as down market from Coca Cola. Positioning helps customers understand what is unique about the products when compared with the competition. Coca Cola plan to further create positions that will give their products the greatest advantage in their target markets. Coca Cola has been positioned based on the process of positioning by direct comparison and have positioned their products to benefit their target market. Most people create an image of a product by comparing it to another product, thus evident through the famous battles between Coca-Cola and Pepsi products.
Branding It is often hard to say exactly why we buy one company’s product over another. Companies such as Nike and Adidas spend large amounts of money trying to win consumers away from their competitors who make products that are very similar. The popularity of the brand is often the deciding factor. Over the time Coca Cola has spent millions of dollars developing and promoting their brand name, resulting in world wide recognition. ‘Coca-Cola’ is the most recognised trademark, recognised by 94% of the world’s population and is the most widely recognised word after “OK”. Coca Cola’s red and white colours and special writing are all examples of world-wide trademarks. There are a number of branding strategies: Generic brand strategy, Individual brand strategy, Family brand strategy, Manufacturer’s brand strategy, Private brand strategy and Hybrid brand strategy. Coca Cola utilizes the Individual brand strategy as Coca Cola’s major products are given their own brand names e.g Fanta, Sprite, Coca Cola etc although they maybe presented as different lines they operate under the name of Coca Cola.
Packaging Packaging, which is not as highly perceived by businesses, is still an important factor to examine in the marketing mix. Packaging protects the product during transportation, while it sits in the shelf and during use by consumers, it promotes the product and distinguishes it from the competition. Packaging can allow the business to design promotional schemes, which can generate extra revenue and advertisements. Coca-Cola has benefited from packaging the product with incentives and endorsements on the labelling as a promotional strategy to increase it’s volume of sales and revenue.
Price: Price is a very important part of the marketing mix as it can effect both the supply and demand for Coca Cola. The price of Coca Cola’s products is one of the most important factors in a customer’s decision to buy. Price will often be the difference that will push a customer to buy our product over another, as long as most things are fairly similar. For this reason pricing policies need to be designed with consumers and external influences in mind, in order to effectively achieve a stable balance between sales and covering the production costs. Price strategies are important to Coca Cola because the price determines the amount of sales and profit per unit sold. Businesses have to set a price that is attractive to their customers and provides the business with a good level of profit. Long before a sale was ever made Coca Cola had developed a forecast of consumer demand at different prices which inevitably determined whether or not the product came on the market, as well as the allocation of adequate money and resources to produce, promote and distribute the product.
Pricing Strategies And Tactics The pricing Strategy a business will use will have to focus on achieving the marketing plan’s objectives and support the positioning of the product, and take external factors such as economic conditions and competitors in to account. There are 5 strategies available to business: Market skimming pricing, Penetration pricing, Loss leaders, Price Points and Discounts. Over the years Coca Cola has used Penetration Pricing as a way of grabbing a foothold in the market and won a market share. It’s product penetrated the marketplace. Once customer loyalty is established as seen with Coca Cola it is then able to slowly raise the price of its product. There has been a fierce pricing rivalry between Coca Cola and Pepsi products as each company competes for customer recognition and satisfaction. Till now it appears as if Coke has come up on top, although in order to gain long term profits Coke had to sacrifise short term profits where in some cases it either went under of just broke even, but as seen it has been all for the best. Pricing Methods
Good pricing decisions are based on an analysis of what target customers expect to pay, and what they perceive as good quality. If the price is too high, consumers will spend their money on other goods and services. If the price is too low, the firm can lose money and go out of business. Pricing methods include: Cost based Pricing, Market based pricing and Competition based Pricing. Over the years Coca has lost ground here in it’s pricing but has regained it’s strength as it employed the Competition-based pricing method which allowed it to compete more effectively in the soft drink market. Leader follower pricing occurs when there is one quite powerful business in the market which is thought to be the market leader. The business will tend to have a larger market share, loyal customers and some technological edge, thus the case currently with Coke, it was first the follower but through effective management has now become the leader of the market and is working towards achieving the marketing objectives of the Coca Cola. Survival in the market place, own 60 % of market share by 2007, increase further awareness of product and a return on 20% on capital employed for August 2007.
Promotion : In today’s competitive environment , having the right product at the right place in the right place at the right time may still not be enough to be successful. Effective communication with the target market is essential for the success of the product and business. Promotion is the p of the marketing mix designed to inform the marketplace about who you are, how good your product is and where they can buy it. Promotion is also used to persuade the customers to try a new product, or buy more of an old product. The promotional mix is the combination of personal selling, advertising, sales promotion and public relations that it uses in its marketing plan. Above the line promotions refers to mainstream media:Advertising through common media such as television, radio, transport, and billboards and in newspapers and magazines. Because most of the target is most likely to be exposed to media such as television, radio and magazines, Coca Cola has used this as the main form of promotion for extensive range of products. Although advertising is usually very expensive, it is the most effective way of reminding and exposing potential customers to Coca Cola Products. Coca Cola also utilizes below the line promotions such as contests, coupons, and free samples. These activities are an effective way of getting people to give your product a go.
Place and Distribution: The place P of the marketing mix refers to distribution of the product- the ways of getting the product to the market.The distribution of products starts with the producer and ends with the consumer. One key element of the “Place/Distribution” aspect is the respective distribution channels that Coca Cola has elected to transport and sell its product.
Selecting the most appropriate distribution channel is important, as the choice will determine sales levels and costs. The choice for a distribution channel for any business depends on numerous factors, these include: • How far away the customers are; • The type of product being transported; • The lead times required; and; • The costs associated with transport; There are four types of distribution strategies that Coca Cola could have chosen from, these are: intensive, selective, exclusive and direct distribution. It is apparent from the popularity of the Coca Cola’s product on the market that the business in the past used the method of intensive distribution as the product is available at every possible outlet. From supermarkets to service stations to your local corner shop, anywhere you go you will find the Coca Cola products.
Physical Distribution Issues Coca Cola needs to consider a number of issues relating to the physical distribution of its soft drink products. The five components of physical distribution are, order processing, warehousing, materials handling, inventory control, transportation. Coca Cola must further try to balance their operations with more efficient distribution channels.
Order Processing- Coca Cola cannot delay their processes for consumer deliveries (i.e. delivery to selling centers), as this is inefficient business functioning and is portrays a flawed image of the product and overall business. Warehousing and inventory control- warehousing of Coca Cola products is necessary. Inventory control is another important aspect of distribution as inventory makes up a large percentage of businesses assets. Choosing the correct and desired inventory measure that Jackson’s sees as most effective is vital. Jackson’s must remember though that there are factors involved with inventory control that can hinder the products sales and customer perceptions (hazards, distribution from storage facilities, etc…). Materials handling- this deals with physically handling the product and using machinery such as forklifts and conveyor belts. When holding products, then Coca Cola has benefited from purchasing or renting respective machinery. Transportation- transporting Coca Cola products is the one most important components of physical distribution. Electing either to transport the sports drink by air, rail, road or water depends on the market (i.e. global, or domestic?) and depends on the associated costs. The most beneficial transportation method for Coca Cola would be ROAD if the product were moved around from storage to the cost centers.
Implementing, Monitoring And Controlling
Financial forecasts are predictions of future events relating strictly to expected costs and revenue costs for future years. There are five major marketing expenditures, which include research costs, product development costs, product costs, promotion costs and distribution costs.
Sales force composite is the most logical method in forecasting revenue. This involves estimates from individual salespeople to sell to work out a total for the whole business. Once these costs and revenues are forecasted, management can then decide which combination of marketing mix strategies will deliver the most sales revenue at the lowest cost.
Implementing Implementation is the process of turning plans into actions, and involves all the activities that put the marketing plan to work. Successful implementation depends on how well the business blends its people, organisational structure and company culture into a cohesive program that supports the marketing plan.
For its further success, Coca Cola must impose several key changes. Production needs to be on time and meet the quota demanded from wholesalers. It must also be efficient so as not to build inventory stocks and inventory prices. The marketing needs to be motivated and knowledgeable about the product. The forms of promotion such as advertising must be attracting and enticing to the target market to get the greatest amount of exposure possible for the product. This will ensure the success of the product in the stores. Distribution of the product must be efficient. This problem has already been taken care of with convenient transport routes to commercial areas and transport already being arranged.
Monitoring And Controlling Monitoring and controlling allows the business to check for variance in the budget and actual. This is important because it allows Coca Cola to take the necessary actions to meet the marketing objectives. There are three tools Coca Cola should use to monitor the marketing plan. They are the following:
i. Sales Analysis The sales analysis breaks down total business sales by market segments to identify strengths and weaknesses in the different areas of sales. Sellers of Coca Cola products vary from major retail supermarkets to small corner stores. This gives the its products maximum exposure to customers at their convenience.
ii. Market Share Analysis Market share analysis compares Coca Cola’s business sales performance with that of its competitors. Coca Cola looks to increase its market share by over 60%. With the changes Coca Cola is currently undergoing, they aim to regain an iron fist control of the market. Target market various age groups and lifestyles from high school students too universities, and male or female.
Marketing Profitability Analysis This analysis looks at the cost side of marketing and the profitability of products, sales territories, market segments and sales people. There are three ratios to monitor marketing profitability; they are market research to sales, advertising to sales and sales representatives to sales. The results of these three tools can help Coca Cola determine any emerging trends, such as the need for a different product. Comparing these results with actual results gives the business an idea on when to change.
Market Research When attempting to implement a new Marketing plan a business must address its target market and conduct the relevant information to insure the new marketing plan both differs from the old and is better for the business. When conducting market research a business must first define the problem and then gather the appropriate information to solve the problem. There are 3 types of information a business can gather to solve its problems. ->Exploratory Research which clarifies the problem an d searches for ways to address it. ->Descriptive Research is used to measure and describe things like the market potential for a product and characteristics of the target market. ->Casual Research is used to test a hypothesis about a cause and effect relationship. Coca Cola through its market research has addressed all three types of research to define the problem raised by shareholders and gathered information to serve their needs.
Factors Influencing Consumer Choice
When making decisions on products a business must look at factors that influence consumer choice such as psychological factors, Sociocultural factors, Economic factors and Government Factors. Psychological Factors: such as motivation, perception, lifestyle, personality and self concept, learning , and attitudes influence the consumers behaviour towards a product and Coca Cola has addressed this issue by introducing Diet Coke to satisfy different lifestyles. Sociocultural factors: such as culture, subculture, socio-economic status, family and reference groups influence the consumers behaviour towards a product. Economic factors: such as Disposable income and discretionary income. Coca Cola has addressed this side of the influence by maintaining a low price on the price of its products. Government Factors: such as new regulations, inflation, interest rates all influence consumer spending and choice.
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Coca-cola Marketing Strategy Case Study Example
Headquartered in Atlanta, Coca-Cola is a non-alcoholic beverage company in the world. It is one of the most recognized brands worldwide. Coca-Cola works with more than 500 brands, and most of them have a billion-dollar market share.
It includes Fanta, Sprite, Diet Coke and Coca-cola, and other top-ranking beverage business enterprises. Coca-Cola deals with enhanced water, juice, sports drinks, plant-based beverages, and milk. Other top brands collaborating with Coca-Cola include Minute Maid, Honest Tea, Powerade, and Vitamin Water.
With a robust marketing network, Coca-cola serves more than 200 countries. About 60% of the revenue and 75% operating profit generated by the enterprise, comes from outside of the United States of America.
As per sources, about 92% of the total population is aware of the white and red logo of the brand.
Vision of Coca-cola
Vision forms the layout of the roadmap . It guides all of the business aspects by guiding and inspiring us to continue accomplishing sustainable growth.
- People : The company aspires to have an ideal working environment where individuals get inspired to give their 100%.
- Partners: Nurture an existing network of consumers and suppliers, so that they can create a strong brand value together.
- Portfolio: Develop a strong portfolio of beverage brands that understand the needs of the consumers, and serve them accordingly.
- Profit : Maximize the return to company shareholders, while being mindful of the duties.
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Mision of Coca-cola
Our roadmap begins with our mission. It specifies our purpose of company existence and acts as the basis against which we measure our decisions and actions taken.
- To refresh the universe.
- To recreate moments of happiness, and optimism.
- To bring about changes in the world, thereby enhancing our values.
Segmentation, Targeting, and Positioning of Coca-cola
Segmentation permits a business enterprise to customize a product for a specific group of consumers. The beverage industry giant doesn’t shortlist its target audience, but develops an adaptive business strategy by manufacturing and launching new products.
Competitive Analysis in Marketing Strategy
Company Operations: The beverage industry giant outsourcing bottling strategy to FEMSA, the largest bottling franchisee of the Trademark businesses worldwide. It increases the growth opportunities in the non-carbonated beverage industry. It allows the company to make strategic agreements of acquiring brands and collaborating with Coca-Cola.
Portfolio : Company offers a strong portfolio of products to customers and explores more categories to boost its productivity and market share. The beverage Portfolio of Coca-cola includes carbonated drinks, packed water, juice, soft drinks, coffee, beer, and even milk in some foreign markets like Brazil.
BCG Matrix in Marketing Strategy
Thumps-up, Fanta, Sprite, and Maaza form a star in the BCG Matrix as they have a high demand and market share. However, they face tough competition in the market. Kinley has a question mark in the BCG Matrix, as it makes low sales.
The company fails to strategically place Kinley, due to the existence of a huge number of local players, eating up each other’s market share. The main brand i.e. Coca-cola is a cow as it has a presence all over the world, and has Pepsi as the sole competitor in the industry.
Brands promoting tea, coffee, and Coke-Diet are a dog in the matrix. It is because they are under establishments, and can’t attract customers.
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Marketing mix of coca-cola.
A marketing mix is a combination of the tactics and strategies to implement the marketing plan. It aims to boost the competitiveness of Coca-Cola against an array of market players.
By uniquely designed coca-cola marketing strategy 2021 , gives a boost and gives broad global recognition. Like many other companies, Coca-Cola bases its marketing strategy on 4Ps: product, promotion, price, and place. Coca-cola follows the marketing mix strategy.
Place in market mix indicates the venue that the company uses to reach out to the targeted audiences.
Coca-Cola is a global company and has a wide network of distribution. As mentioned above, it exports products to more than 200 countries. They operate in places like North America, Europe, Africa, and Latin America. The company depends on its franchises for distribution and packing. Products are available in all retail outlets, groceries, and hypermarkets. Companies distribute products to hotels and restaurants.
It makes use of a reverse supply chain that collects bottles and reuses them. It saves resources and costs.
Promotion in Marketing Mix includes tactics to reach out to the intended audience. It is how they convey deals offered by the firm.
Owing to the huge competition in the market, Coca-cola implements versatile promotional strategies. As per reports, the company invested about $4.1 million in 2018, and 4 million dollars in 2016 in promoting its products. Additionally, the beverage industry giant exploits both national and international mediums for brand promotions.
As per the competition-oriented pricing strategy, the beverage industry giant can charge a similar price that’s more or less than its competitors. It is also known as imitative or going-rate pricing. Often, it becomes hard to anticipate the price differentials.
Pepsi is one of the strong competitors of Coca-cola. To gain a competitive edge, the brand needs to follow a flexible pricing strategy. The competition-oriented pricing strategy comes in handy when the products are more homogenous. A company that follows the going-rate pricing is more likely to get employed.
Coca-cola global marketing strategy
The “One Brand” strategy: Extends the global equity and iconic appeal of original Coca-Cola across the trademark, uniting the Coca-Cola family under the world’s No. 1 beverage brand. Comes to life in a global campaign that uses universal storytelling and everyday moments to connect with consumers around the world.
The coca-cola marketing strategy in different countries shows that company sold in every country. Coca-Cola uses unique advertising to appeal to vastly different cultures.
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Coca-Cola's Marketing Strategy : Assignment
Added on 2020-03-23
About This Document
The target market of Coca-Cola does not contain a specified segment. Though it does not target a specific market, its targeting strategy is based on the demographics of the chosen segment (Mokaya et al., 2012). Reaching the chosen target market can also be done easily through partnerships, for example, fast food chains in the international market (Mokaya et al., 2012). Demographic target is based on Age, Lifestyle, Occupation, and nature. Read also " Case Study on Coca Cola Company " and " Quality Management systems Coca-cola Company " for better analysis.
Added on 2020-03-23
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Coca-cola's holiday campaign gets a generative ai-powered makeover, create real magic is a holiday card generator featuring some of its most iconic assets.
It’s no secret that collaboration is essential to growth, but the how of it isn’t always so clear—and it's the understanding of how that is a true competitive advantage. Join Adweek X , a uniquely formatted event on December 4 in LA, to unlock fresh perspectives, true collaboration and growth.
Coca-Cola has rolled out its third generative AI initiative of the year, this time as part of a global holiday campaign.
The 130-year-old brand is opening its vault to the public via Create Real Magic , an artificial intelligence -powered holiday card generator. Built on the combined capabilities of GPT-4 and Dall-E 2, within a few clicks people can experiment with holiday-themed content, from selecting images to personalizing holiday greetings through generative AI-driven text capabilities, shareable across social platforms and WhatsApp.
“We are almost democratizing this tool for people to connect in a more personalized way,” said Pratik Thakar, global head of generative AI at Coca-Cola. “Because the way [you] prompt and write messages is unique, what [you] create never gets created again.”
Available through Dec. 26, the AI tool provides access to some of the beverage giant’s most iconic assets, including the cherished depictions of Santa Claus created in 1931 by Haddon Sundblom as well as the company’s family of polar bears, first introduced in 1993.
Earlier this year, Coke inked a deal with ChatGPT maker OpenAI and Bain & Company. That was followed by Coca-Cola’s first Create Real Magic campaign in March, which allowed creators to build out-of-home digital art meant for billboards in New York and London. The AI campaign saw nearly 120,000 image creations within 11 days, all without utilizing paid media. Users, on average, spent nearly eight minutes on the platform, said Thakar.
While some marketers have experienced the AI language gap when using previous versions of AI tools such as GPT-3, Coca-Cola’s latest campaign takes advantage of the newly available versions of ChatGPT and Dall-E, allowing people to craft greetings in regional languages for the campaign, which spans Europe, Japan, India and Latin America.
“It’s the era of AI, and we are ahead of the curve compared to many other marketers. And that’s the way we want to go,” added Thakar.
Testing, learning and scaling AI
The company’s marketing strategy involves testing a variety of AI tools and partners before choosing the ones deemed safe and suitable. Simultaneously, its campaign strategy centers on piloting campaigns, deriving learnings and refining them for scalability–an approach dependent on its team of creative technologist and AI artists.
For instance, after launching the AI pilot campaign in March, these experts that congregated at Coca-Cola’s three-day workshop named the ‘Real Magic Creative Academy’ in August, recognized its user experience was too complex and required increased technological capabilities among people .
“We learned that we need to make the tools more user friendly by adding specific scenes, styles and subjects, to appeal to a wider group of people, rather than just creators,” said Thakar. “We are simplifying the creation part. And as technology evolves, the quality of images and messages become much better.”
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Trishla is an Adweek staff reporter covering tech policy.
The Coca-Cola Marketing Mix Assignment
Coca-Cola Is one of the ingest surviving brands and among the most successful companies ever. No one would dispute that Coca-Cola has a very successful marketing strategy. 3 Marketing. It Is a marketing strategy that company’s use to estimate the value and determine the methods of advertising and distributing Its products. In other words, the marketing mix consist of getting the right product to the right place, at the right time, at the right price and with the most suitable promotional activity (Wilson, 2013).
According to Rainfall, “Coca-Cola is one of the longest surviving brands and among the most successful companies ever. The reason in part is their understanding and execution of the marketing mix (Rainfall, 2011, Para. 1). Coca-Cola has been long admired for its approach to marketing. They understand that the various elements of the marketing mix must work harmoniously together (Mitchell, 2013). The first “P” of the marketing mix is the Product. The product is the single most important component of the marketing mix.
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Without a product, there Is nothing to distribute, nothing to promote and nothing to price. If the product falls to satisfy consumer demand, no additional cost on any of the other Ingredients of the marketing mix will Improve the products performance In the market place (Hundreds, Panhandle Reedy, 2010). Headquartered In Atlanta Georgia, Coca-Cola Company Is the world’s largest beverage company, refreshing consumers with more than 3,500 products and ready-to-drink coffees. The company’s products are based on their core strength of enduring quality.
The Coca-Cola Company has a large number of soft drinks products, but the most well-known are Coca-Cola, Diet Coke, Sprite and Faint (Wilson, 2013). The second “P” of the marketing mix is Price. The price that a consumer pays for a reduce involves its purchase price in monetary units (Decades, Lassoer & Shrink, 2010). In other 4 words, the price of a product or service is what the seller feels its worth in terms of money, when offered to the buyer (Shearer, Parkas, Victor & Salvador, 2010). Coca Cola has remained tremendously fluent and consistent with its pricing strategy (Dominance, 2012).
In existing markets, Coca-Cola products are priced around the same level as its competitors to be perceived different but still affordable. In new markets, Coca Cola uses lower price point to penetrate the market, raise brand wariness and to face the competition. Once it products are strongly implemented, Coca-Cola reposition its products as “premium” compared the competition (Dominance, 2012). The third “P” of the marketing mix is the Place. The place or distribution is the delivery of the product and right to use or consume it (Shearer et al. 2010). While many view Collar as a single entity, their system operates through multiple local distribution channels. Collar manufactures and sells its concentrates and syrups to bottling operations. The bottling operations then packages and distributes the final products to their vending partners. The vending partners then sell the products to consumers. It’s through the world’s largest beverage distribution system that consumers in more than 200 countries enjoy beverages at a rate of more than 1. Billion servings a day (“The coca-cola system”, Para. 3). The final “P” of the marketing mix is Promotion. Promotion is the persuasive communication about the product to the prospect or consumer (Shearer et al. , 2010). Rachel Rainfall,in her article, Coca-Cola Advertising Through the Years states, “Coca-Cola is one of the most persistent and well-loved brands in history. It is one of the longest surviving brands, ND thus considered among the most successful companies ever. The reason in part of this, is their strong advertising and marketing.
Coca-Cola has always relied on advertising to promote and market their brand, and this is why they are always on top of their game, after having been in the market for more than a century! Coca-Cola advertising has indeed greatly affected American pop culture, and even the whole world. (Rainfall, 2013, Para. 1). 5 over 48 billion dollars in operating revenue and 9 billion dollars in net income. (“The coca-cola system”). No one would dispute that Coca-Cola has a very successful arresting strategy. After more than a century of success, what does the future look like for Coca-Cola?
Social networks like Faceable and Twitter is the destination for millions of consumers daily. Increasingly, social networks offer targeted advertising according to specific demographics, social connections, interests, and habits. Forecasts call for over $10 billion in annual social media ad spend globally by 2017. Social network advertising is a young and growing market and, so far, it only represents 10% of advertising budget for a wide majority of advertisers (“Why social media,” 2013). I believe social media has changed how companies advertise their products to consumers.
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The launch will replace the seven-year-old Coca-Cola "Open Happiness" campaign. The drinks company had a big reshuffle last year, which included a $3 billion cost-cutting plan .
Chief marketing officer Marcos de Quinto announced the move in Paris on Tuesday. The first five TV ads can be seen in the playlist below:
"Anthem" shows a series of different emotionally charged moments in which Coke is enjoyed, finishing with all the Coca-Cola products uniting under the red Coca-Cola disc. A further five video ads will be released later.
The ads are based around a core message: "The simple pleasure of drinking any Coca-Cola makes the moment more special." The company hopes this sentiment will help change the conversation around the drink, which has frequently been driven by critics' concerns around obesity and tooth erosion.
De Quinto said: "This is a powerful investment behind all Coca-Cola products, showing how everyone can enjoy the specialness of an ice-cold Coca-Cola, with or without calories, with or without caffeine."
He added: "We've found over time that the more we position Coca-Cola as an icon, the smaller we become. The bigness of Coca-Cola resides in the fact that it's a simple pleasure — so the humbler we are, the bigger we are. We want to help remind people why they love the product as much as they love the brand."
Ten television commercials will be part of the campaign, along with more than 100 campaign images, a new song developed by Avicii, and interactive digital advertising.
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