Posted on Thursday, 17th March 2011 by kasi
Coca-Cola, a public industry is very well recognized as beverage manufacturer, retailer and marketer. The company traces its roots back in 1892 by Asa Candler. The company’s headquarter is located in Atlanta, Georgia, United States. Franchises are also operated by the company, in which syrup concentrate is provided and the bottlers pack that to the market. The company’s owned anchor bottler lies in Coca Cola refreshment, North America.
Coca-Cola currently offers more than 500 brands in over 200 countries or territories and serves 1.6 billion servings each day. The target market of Coca Cola is not limited to age, area or gender, it is present globally and is serving people at offices, homes, parties, restaurants, bars and every place where one can be present. It usually represents itself as a market for youngsters but products are also being offered specifically for older people.
Coca Cola has always been promoter of research and development, and time to time innovations in product formulas are visualized. It suitably follows the trend of health consciousness because of soft drinks and has acquired the fresh juice company Odwalla. Coca Cola has more than 59 percent of market share in beverages industry (McKay, 2009). Coca Cola’s global movement owes to its long history of acquisitions as it had acquired Minute Maid, Thumps Up, Barq’s, Odwalla, Smoothies and Bars and Fuze Beverages.
The goals of the company are very straight and specific, which includes;
• Maximum consumption of their product.
• Offering products at maximum outlets, more suitably to be present universally at each and every store in all part of the world.
• Brand association with reputed fast foods like McDonalds.
• To invest more on research, the estimated amount being $50 million.
• Safety and health of the customers by investing more on natural sweeteners.
• Providing the customers, an exact figure of what they are consuming in each of their serving.
• Low Caloric product fo4r5mation to meet the global needs.
The key strategies of the company include;
• The main strategy and slogan of the company is availability, affordability and acceptability of the brand.
• Sustainable development of the company, keeping pace with the market to ensure its future presence.
• Periodic assessments of business plans, product response and planning.
• Training sessions of tools and planning to the associates, for the excellent and active performances at the ground.
• Keep balance of relations regarding goodwill and strategies with anchor bottlers and franchises to keep the process running.
• Enhancements of necessary culture and capabilities.
• Engaging other partners in progress through a leadership team.
Yearly Marketing Budget
Total revenue of the company by year 2010 was U.S $ 35.119 billion, with operating income of $8.449 billion and net income of U.S $11.809 billion. Total assets of the company account for U.S $72.921 billion. With the perfect strategy and high revenue, the UK grocery sales were topped by Coca Cola as it topped £1 billion of sales in 2010 (Stephen, 2001).
Marketing Mix of Coca Cola
The Company is hosting a wide range of beverage products to ensure customers wide choice.
• Over 35,000 beverages are produced by the company.
• The bench mark of the company is coke and the major products include Coca-Cola, Sprite, Fanta, Barq’s Root Beer, and Coke Zero.
• Diet beverages are also manufactured by the company since 2001.
• Other beverages include pure fruit juices and fruit drinks, teas, coffees, soya drinks and much more.
• Aquafina is the mineral water branded in the name of coca cola.
• The products of the company are syrups and concentrates which are provided to the bottlers for dilution, packaging and transport to the outlets. The principle bottlers of the company include Coca-Cola Enterprises (CCE), Coca Cola Femsa S.A.B. de C.V. (KOF), and Coca-Cola Hellenic Bottling Company (CCH) (Umpierre, Hill, and Anderson, 1985).
• Fountain syrups are the only raw form which is processed by the company itself, packed in tins and bottles, and dispatched to the markets.
• Energy drinks of coca cola are very popular in spots persons.
Price ranges of coca cola are suitable for all type of its customers. As there is a very large variety of products, so there is also huge price range offered in that perspective.
Coca Cola is a globally recognized company. Its most of the products are available around the globe, except few.
• Sports like cricket are thoroughly sponsored and brand name is enhanced
• Print media has special inclusions of coke and its products
• T.V commercials of maximum duration take immediate attention of customers and are memorable for long time.
• Largest competitor of the company is PepsiCo. A Coca Cola company relies on its nonalcoholic beverages for its revenue in U.S specially but PepsiCo relies almost fifty percent on its snack production.
• Dr Pepper Snapple Group (DPS) is also Coke competitor as it has huge sales comparable to Coca Cola.
• It is biggest beverage Seller Company in the World.
• Its franchise is available in more than 200 countries.
• The brand name is trust worthy for the customers.
• It is most recognizable trademark in the World.
• There is no gender issue regarding employees induction.
• Coco Cola has been branding its name in Universal sports like Cricket.
• Coca cola is implying all its research and development on beverage section and is not putting efforts on snacks whereas its major competitor PepsiCo is earning 42% from beverages and other snacks.
• Political lobbying often imposes pressure on the manufacturing section so company should refrain itself from political scenario.
Every season is pre-caught and promotional videos are launched on T.V channels for new products and seasonal inductions. Every month almost 20 new products are launched. New flavors are introduced in existing beverages.
• Coca-Cola – Press Center – Press Release
• Coke Buys Odwalla". (Oct. 30, 2001). CNN Money.http://money.cnn.com/2001/10/30/deals/coke_odwalla/
• Coca-Cola Buys Fuze Beverage". (March. 16, 2011) Boulder Daily Camera. http://www.dailycamera.com/ci_13073446
• McKay, Betsy (2009). "Coke to Omit ‘Classic’".The Wall Street Journal.
• Umpierre, Sheree; Hill, Joseph; Anderson, Deborah (1985). "Correspondence: Effect of ‘Coke’ on sperm motility".NEJM (Massachusetts Medical Society) 313 (21): p. 1351.
• Coca-Cola Brand Fact Sheets: Barq’s. http://www.virtualvender.coca-cola.com/ft/index.jsp?region_id=&country_id=&drink_type_id=&all_reg_selected=&brand_id=309
• Stephen Armstrong (2001). "Coke goes for broke". TheGuardian (Guardian News and Media Limited).