Marketing Strategy -- Coca Cola
Coca Cola Company
Marketing Strategy - Coca Cola
The Coca-Cola Company is a market leader with the market of 42% in the soft-drink industry and possesses a sustainable brand image due to its variety of products and product quality. The current study aims to analyze and discuss the current marketing strategies adopted by the Coca-Cola Company. The Coca-Cola Companies contains a large portfolio of products that are available in more than 200 countries of the world. The company holds the ability to develop its current and existing products in order to meet the customer preferences and demands.
History of the Company
Industry
Products
Global Marketing Strategy
Company's Brand
Target Market
Selection of Products
Pricing
Distribution
Advertisement and Promotion
Competitive Advantage
Discussion
Future Outlook of the Company
REFERENCES
Introduction
History of the Company
The Coca-Cola Company was incorporated in 1892 by Asa Griggs Candler and the coca-cola formula was invented by a pharmacist named John Stith Pemberton. The Coca-Cola Company is an American-Multinational corporation which produces nonalcoholic beverage syrups of its products which are distributed all over the world. The company tends to be a market leader in soft-drink industry with the total market share of 42% in the global market. The company is operating in 200 countries and employs 130,600 people all over the world including subsidiaries. According to Forbes, the company is ranked number 4 at world's most valuable brands with total annual sales of $46.25 billion. The revenue of the company is spread in which United States accounts for 43%, 37% revenue is accounted by China, Mexico and Japan, whereas, 20% revenue is accounted for the rest of the world. The company has claimed that it serves 1.6 billion customers every day. The company has a strong portfolio and with the help of this strong and extended portfolio the company has been satisfying the needs of its consumers for over a century.
Industry
The Coca-Cola Company operates in the Soft-Drink Industry in which nonalcoholic beverages are produced. The industry has generated $291 billion sales in 2010 and estimates to increase sales up to $310 billion by the end of 2015(Pearson, 2014). The Coca-Cola Company has the largest market share in the soft-drink industry and tends to grow with the expansion of the industry. The soft-drinks industry is found to be dynamic in nature in which consumers adhere to caffeinated, decaffeinated, energy and fruit drinks and in order to meet that several beverages industries are striving to meet the ever changing demands of consumers whereas the Coca-Cola company seems to satisfy its wide range of customers with the help of its portfolio that provides soft-drinks to different segments of the targeted population.
Products
The Coca-Cola Company sells 500 products in more than 200 countries. The company produces a wide range of soft-drink beverages which includes a variety of Coca-Cola, Sports Drinks, Fruit Drinks, Energy Drinks and Water.
Global Marketing Strategy
The Coca-Cola Company operates globally and its effective marketing strategies have played an important role in the successful globalization of the company and its products. The company's adopted strategies are discussed below:
Company's Brand
The company imposes a strong brand and is ranked number 4 in the world and the company possesses the portfolio that is estimated to be valued as $15 billion which enlists Coca-Cola drink, Fanta, Sprite, Coke-Zero, Vitamin Water, Minute Maid, Georgia, Irn-Bru, HuiyuanFriut Juice and Del Valle. The brand of the company is a famous trademark which is recognized by 83% of the total population of the world.
Target Market
The Coca-Cola Company is aimed to satisfy the large number of consumers and attracts various target markets with the variety of its products. The target market of the company targets all types of consumers with a variety of caffeinated and decaffeinated drinks. However, the company also produces specific type of consumers with its specific products. The company targets athletes by producing a number of sport drinks for athletes and sports persons so that the adequate amount of minerals and calories help them to stay fresh and perform sports related physical activities. Some examples include PowerAde, Aquarius and Vitamin Energy. Moreover, the company targets health conscious people by providing its number of products in zero calories so that the people who refrain to use the specific amount of carbohydrates can enjoy its beverages. The examples include Diet Coke, Diet Cherry Coke, Diet Vanilla Coke and Green Tea and Coke Zero. However, a number of fruit juices are produced by the company to target the market which adheres to the fresh fruit juices i.e. Minute Maid and Huiyuan Fruit Juices. The company targets old...
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