Coca-Cola's Principles of Budgeting

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The Coca-Cola case of budgeting seems to corroborate the premise of Libbey and Lindsy (2008) that whilst the traditional method of budgeting may be problematic in various ways, nonetheless the beyond budgeting approach should not be exclusively accepted. Rather a carefully selected mergence of some aspects of traditional budgeting together with (if one wishes) the Beyond Budgeting approach can be conductively applied. Coca-Cola budgets by using its money in strategically indirect and smart ways, thereby applying the essence of the beyond Budgeting approach. Coca-Cola, as Player (nd) said, uses "creative stunts and strategic partnerships to get a lot done on a smaller budget." The company created Del Valle and Minute Maid Pulpy in 2011, whilst Diet Coke in that same year introduced a new limited edition fashionable and quirky looking can. Coca-Cola also kicked off with a new global, teen-focused campaign called Coca-Cola Music that introduced "24hr Session," with original songs. The campaign has been introduced to more than 130 markets. Coca-Cola has stopped using its mass-marketing, big brand model techniques and instead goes for word-of-mouth or by campaigns that have pitted itself against Pepsi ('The Pesi wars') thereby causing its reputation to become viral and word of mouth. Rather than investing huge budgeting costs into its marketing, it prefers to skimp on marketing relying instead on word-of-mouth, its reputation, and viral marketing. They also try to do things in

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