Besides them sampling the product, they had help create the name Coca-Cola. Market segmentation Since soda Is a convenience product, people don’t evaluate too much the product to buy it. The versatility of the product allows Coca-Cola using any possible segmentation strategy. The firm has been so intentional in identifying, understanding, and respecting the different countries’ cultures, how people live their lives, national sport preferences, goals, values, how they perceive themselves, etc. The company has been successful appealing specific motivations and desires for customers around the world.
It could be a global appeal like peace, unification, sharing, friendship or a precise targeting, for example, in the U. S. The company appeals to achievement, victory, Independence, success, and similar Ideas. In Latin America is appealing to family, celebrations, traditions, working hard, and so on. The company has targeted in every country their particular appealing, which is what has made customers to embrace easily Coca-Cola as part of their daily lives. Global marketing The company was founded In May 1886 In Atlanta, Georgia.
During early 1 us the many built two plants one in Cuba and one In Panama, additional plants were built in Puerco Rice, Philippines and Hawaii reducing costs and increasing demand. In 1 926, the company continued growing investing In many deferent countries. Actually, Coca-Cola has investments in 200 countries. In 1928, the company became the first sponsor of the Olympic Games in Amsterdam. Coca-Cola has sponsored different events such as the International Federation of Association Football (FIFE), National Hockey League (NIL), National Basketball Association (NAB), National Football
Association (NFG), Major League Baseball (ML). MASCARA, and Cricket World Cup positioning Coca-Cola as one of the most visible products around the world Success in marketing Coca-Cola is definitely one of the most successful companies in the world, no wonder It has been In the market for almost 1 35 years. First, the company has used an excellent advertising plan, which is constantly reminding people about its product. Second, Coca-Cola has never compromised neither the original taste of the product or the color of its logo successfully keeping its customers’ acceptance.
In addition, the firm has been open to make some changes and adaptations to the product satisfying the needs of health concern customers or sport performers customers. Third, the firm has developed strong and fair relationships with its suppliers. Fourth, Coca-Cola 1 OFF recyclable and glass bottles that are reusable, which not only has collaborated in protecting the Earth’s future but also has gained public approval. Fourth, the company has increased its community connections by supporting students with scholarship funds.
The beverages company has been successful in making its reduces available literally everywhere producing eight million servings a day worldwide, which demonstrates the company has accomplished its mission refreshing the world. Target Market: The Coca Cola Company has become so interconnected with the global market that it can be somewhat difficult to pinpoint an exact “Target Market. ” Coca Cola has an arsenal of products lined up in shelves across the world. I can honestly say from owning grocery stores that a party isn’t really a party without having some Coca Cola Company product in your house.
Over time Coca Cola has slowly accumulated a egger product line and now they have many different Target Markets that they need to attend to. Apart from the world famous red Coca Cola soft drink, The Cola Company has acquired drinks for every type of person in need of a refreshing drink. By offering many types of products Coca Cola has tapped into virtually every Target Market; They carry a long list of “healthy beverages, soft drinks, sugarless drinks, bottled water, iced teas, and for those people looking for an extra boost of energy they even have Monster Energy drinks which have grown to be an incredibly popular drink.
By providing different varieties of drinks Coca Cola has found its place in stores and houses all across the world. Brand Equity The Coca Cola Company has expanded into the global market, the very fact that people recognize the cursive Coca Cola trademark worldwide has given the company an equity that is hard to put a price on. Coca Cola has many types of marketing that we see every day; you can find ads on the television, billboards, magazines, radios, they even put their logo on soccer balls, sports Jerseys, and many other countless items.
It’s incredible how many products they now carry, the company website claims o carry 3500 products worldwide and how many people are unknowingly buying their products without even knowing it. You could be drinking Even or Disdain bottled water or a Powered or vitamin water, Regardless of your liking of Coca Cola Soda you are in fact purchasing a coca cola product. Without a doubt the Coca Cola recipe is the most guarded recipe in the world and for a very good reason too, it generates a lot of money!
It is astonishing that Coca Cola can sell its product for twice the price of generic Cola yet no matter what Coca cola is always a first pick among consumers. The Coca Cola Company has built such a valuable equity that in today’s market, going up against such an enormous company is a real challenge. History and Overview The soft drink coca Cola was invented in 1886 by a pharmacist’s back yard in Atlanta Georgia with the name of John Pembroke. The name and famous logo was the idea of his book keeper named Frank Robinson.
Soon in 1887 a businessman and fellow pharmacist named As Candler bought the company and with his aggressive marketing he transformed the company into one of America’s most favorite soft drinks. In 1985, the trade secret “New Coke” formula was released. Today, products of the Coca Cola Company are consumed at the rate of more than one billion drinks per day. Today Coca Cola has introduced many new flavors of soda and even Juices such fortune 500 company, the current Chairman and CEO is Martha Kent, the company employees about 130000 employees and in 2013 the company made about 47 billion dollars with the U.
S being almost half its consumers. Product Mix: The products from Coca-Cola are to bring a refreshing product to consumers. They are having more diversified family brands from time to time, such brands are from eater, Juice, sports drinks, and even heading into the dairy industry (Milk). Global marketing Coca cola only started out with one product that contained carbonated water and syrup. To get recognized advertising plays a big role, when they attend events, have ads on Television, magazines, and much more.
From its virtual vendor site, Coca Cola is selling to more than 200 countries, and more than 3,000 of products. The reason why they keep growing worldwide is because they keep introducing new products, which fulfills the tastes of almost everyone. They also try techniques to have more sales. One of the techniques is by putting a winning bottle cap in one of the sodas. Advertise the big give away and have many anxious people keep buying. Coca Cola does a lot of market research to compete with Pepsi its major competitor.
The company does many surveys to get feedback from customers, to understand why or why not they like the product. Product labeling Around the year 1886, John S Pembroke created his carbonated drink. His partner and bookkeeper worked on a name for the product, which in 1887 they came out with the name Coca Cola, thinking the two Co’s would look good in advertising. They started tit the old fashion logo, written in cursive. In 1890 their logo changed for one year. It didn’t have cursive writing, Just more of a swirl twist to it.
After the year ended they went back to their normal cursive logo. On 1969 was the first time they added the white stripe underneath Coca Cola, thus giving it its final touches. Competitors & Price Coca-Cola are about the same as its top competitor, Pepsi. But Coca-Cola, has created an image as perceived different, but still affordable, and a better alternative than their competitors. Throughout the years, Coca-Cola has made many different types of racing decisions, to overall increase company revenues, and keep shareholders happy by having their stock price increase.
One way Coca-Cola is increasing market share is by a simple price strategy, to decrease prices, to some its products, but not all. Pepsi, a competitor has decreased all of its product prices to increase market share, but some consumers see this as being a product of lower quality. They might shy away from buying Pepsi. Instead what Coca-Cola is doing is lowering prices on new products to enter new markets, that are especially sensitive to price. Product Diversification Coca-Cola primary focus is the internationalization of its brand.
When you go to Spain, China, and India they are nothing alike, different culture, and languages. But Coca-Cola is the same and rings a bell in these very different cultures. Coca-Cola exist in almost two hundred countries and has a global brand value and great brand Brand loyalty, and brand equity, by innovating to differentiate its products. Coca-Cola products differ greatly, they offer products like sodas, cookies, energy drinks, chips, and a number of more goodies. They have to diversify their products because Americans are increasingly concern about health issues and are dumping soda drinking.
Americans consume forty percent less of soda, compared to ten years ago. This has made Coca-Cola a new growth engine in the overseas markets. Were competitors are weak, and competition is lower than in the states. They are also diversifying products for more growth. Coca-Cola adds and drops products constantly, to increase growth and sales. Competition Coca Cola is really one of the biggest soda makers in the soda industry. By being in productivity since 1886 they have manage to be number #1 for quite a while, even Hough they have Pepsi, RCA and Big K cola. Those are one of the main competitors coca cola faces.
These companies also have different type of drinks then Just cola. Besides having big companies for competition Coca Cola is the main selling product for cola products. Marketing Coca Cola marketing strategy is to obtain a worldwide view, as they want to have obtain it in a responsible marketing way. Being a worldwide known product coke feels to have the responsibility to not promote drinks to kids, they bring their own set of mindset of not advertising or promoting their drink to kids 12 and under. They feel t is the parent’s Jobs to choose the best beverage for their child.
Besides having a responsible marketing strategy, they also have the general marketing strategy most companies want to achieve which is to gain product recognition. Conclusion Coca-Cola was introduced in the year of eighteen hundred and eighty six, very old and successful company, but like most of its customers we have no idea of its origin, who created, and how successful it’s been. Coca-Cola was not created as a soft drink, it was a drug created by John Pembroke. The drug was created to fight morphine addiction, as a new alternative to opiates.
Our group really has no new avenue for Coca-Cola, it currently is doing a great Job in managing its company. They have been for over one hundred years, to remain relevant in this competitive environment they have created a number of different products. One idea we have is they should instead of creating more and more products that may not be successful, is they should expand into new or current markets, by expanding more or tweaking a current product they have. By doing this, they can decrease their overall expense, but still expand and create revenue, by marketing their already made products.
