As Coca-cola becomes increasingly globalised, the firm is dividing the market into different geographical units, for instance, Europe, North America, and Asia Pacific. Apart from an expansion of supply chain network by providing Coca-cola bottling franchises, consumers’ taste and preferences are being prioritised by the company as well. Coca-cola works locally, by adapting products to a local taste. Nevertheless, the company still focused on an importance of the quality level of ingredients for consumers (Coca-cola.co.uk, 2016). The formula for the concentration is equivalent, however the flavour(sweetness) may vary according to a local satisfaction in each region, this is exemplified by an increasing import of Mexican’s Coca-cola in the southern …show more content…
The Company target consumer within the age ranges from 10 to 35 years old. Within this range, the company scopes down into three segments comprising of Youth (10-19), Young Adults (20-24), and Adults (25-35). By doing this, Coca-Cola gains more in-depth understanding of consumers’ preference, which consequently enable the company to effectively design and produce products and marketing strategy that match the need of consumers within each segment. For example, the recent campaign from Coca-Cola “Share a Coke and a Song” is a highly innovative marketing campaign which primarily intend to target on all three segments. The campaign involves printing part of lyrics which are selected from “more than 70 genre-spanning lyrics- from classic hits to recent-toppers” on the label of the Coke’s bottle. These phrases feature emotional expressions that appeal to diverse tastes while inspiring connection. Hence, every consumer of the three segments can at least find one lyric that they can relate to and consequently encourage purchase. This means that every customer from all three segments is potentially targeted by this campaign. In addition, in a certain market, the campaign expands beyond its core set of a 70-plus lyric by introducing location-specific lyric, which simply means lyrics are extracted from local songs and are printed in local languages. The adoption of geographical segmentation in their campaign further encourages customers’ connection. The result of this campaign was highly successful as shown in the higher level of revenue and market share in its flagship market during the period of the campaign. (The Coca-Cola Company,
When Coca cola bring refreshment, value, joy and fun to their stakeholders, then they successfully nurture and protect their brands, particularly Coca-Cola that is the key to fulfilling our ultimate obligation to provide consistently attractive returns to the owners of our business. Marketing positioning Local marketing strategy enables Coke to listen to all the voices around the world asking for beverage that span the entire spectrum of tastes and occasions. What people want in a beverage is a reflection of who they are, where they live, how they work and play, and how they relax and recharge. Whether you’re a student in the United States enjoying are freshing Coca –Cola a woman in Italy taking a tea break , a child in Peru asking for a juices drink, or a couple in Korea buying bottled water after a run together, “Coca cola is there for you. Coca cola are determined not only to make great drinks, but also to contribute to communities around the world through our commitments to education, health, well ness, and diversity. Coke Strives to be a good neighbor, consistently shaping business decisions to improve the quality of life in the communities in which coke does business. It’s a special thing to have billions of friends around the world, and coke never forgets it.
The story of one of the biggest marketing blunders in history, is a story of false hubris, desperation, and driving ambition. Made by one of the largest corporations in the world. The creators of a product on the forefront of the American consciousness. As intertwined into American culture as baseball, apple pie, and Thanksgiving dinner. That product of course was Coca Cola, the formula of which had remained unchanged close to 100 years. Since its creation by Atlanta pharmacist John Pemberton in 1885 as a topical remedy marketed as a cure from ailments such as stomach pains, headaches, and even impotence, Coca Cola had grown into the number one drink in America.
In this assignment I’m going to describe how the marketing research information is used in order to understand customers, competitors and the market environment in a company like Coca Cola. I’m also going to describe how the link between the principles of marketing are applied within the Coca Cola Company and the marketing research activities used by the same organisation.
The Coca-Cola Company has built an extensive network of distributors that partner with local retailers to ultimately reach their final consumers. They understand their target market and the logistics required to have their products reach their customers around the world. Their success is due to their continual efforts to reduce cost and increase profits, while delivering quality, diverse products to their customers and consumers. Coca-Cola anticipates their customers’ interests and proactively delivers viable solutions for their businesses (The Coca-Cola Company, 2014).
When thinking of what makes a successful advertisement, many would agree that the most successful brands adapt to the society and trends around them. Similar to everything else in our world, advertisements continue to change year after year and era after era. When thinking of common brands with impressive advertisements and campaigns, Coca-Cola is one that we are introduced to at a young age. Coke has been advertising their brand for over one hundred years. This brand continues to relate to many consumers by modifying and creating advertisement campaigns, which relate to current trends. Two advertisements in particular test the theory of how as era’s progress what was once seen as competitive relationship is now a budding romance and popular marketing strategy.
According to Hein, Music is a major influence in marketing today, “ There have been 1,050 references of about 66 different brands in songs ranked in the top 20 through the beginning of October, according to San Francisco- based brand consultancy LucJam”(Hein 346). Keeping up with the techniques of advertisement for marketers will help with the increasing demands of future generations.
According to David Cravens and others “Target market is a group of existing or potential customers within a specific product market towards which an organisation directs its marketing efforts”. Coca cola company follow Total market approach; therefore, company develops a single marketing mix and directs it at the whole market for their products.
Coca-Cola and PepsiCo compete at length with each other among an extensive list of other brands. A key concern for both of these companies in 2011 was their capability to market, produce, and distribute across national boundaries of a single nation. This concern has decreased as both companies were able to push though their limitations and were able to establish manufacturing plants in countries across the globe. (Coca Cola Company, 2011)
The Coca-Cola Company has enjoyed a long and successful history; however, it has made mistakes. Though success has not always come easy or cheap, Coca-Cola has maintained a large loyal consumer base. As an icon in America and around the world, the company can be credited for listening to and catering to the requests and needs of its consumers. This is why its attempt to launch new flavors must be carefully considered to ensure not only acceptance by the target market, but continued loyalty to the brand.
Market research is the process where the marketing problems and opportunities are defined through the information gained from the customers. The Market research is also used to help understand the marketing process, which then helps increase the performance of the company’s marketing. Due to the raise of the public awareness of obesity and its consequences, the soft drink companies such as Coca Cola where heavily bombarded with negative publicity. As a result the sales of many soft drink companies have declined. In response to this major companies such as Coca Cola have embraced the idea of quantitative market research to understand the needs of the consumers. To be able to achieve an effective market research the company has spent around $132.8 million on many methods of retrieving information but one of the main method was by surveys. The surveys have shown that the image of the company was associated with unhealthy products, due to the results that were provided Coca Cola was able to understand that to attract more customer the only solution was to change the marketing plan to re- brand the business into a health conscious business.
The Coca Cola company is perceived to be the most famous trademark on the globe, and it is equally so. The company claims more than 400 brands that appeal to a wide range of individuals throughout the world. They are in a position to fulfill needs of every one of their buyers making their experience with their beverages a better one. The entity’s drinks entice a lot of people across all races, age, and gender. Coca Cola is outstanding for its overall popularity as its items are sold in over four hundred countries in the world, while major contenders like Pepsi are just available in very few countries. Such a competitive advantage has placed
The history of Coca Cola began in 1886 when Dr. John S Pemberton, an Atlanta pharmacist created a tasty soft drink which could sell at soda fountains. Since then, Coca Cola grew to be a global brand and touched great heights. Today, it sells across 200 countries and is just as popular across all the markets and nations. The company today, owns or licenses and markets more than 500 non alcoholic beverage brands. The brand has only few major competitors in the global market. The daily servings of coca cola are estimated to be at 1.9 billion globally. (Coca-Colahellenic, n.d.) This is just another proof of the popularity of the brand which has a very large and diversified
Firstly we start with the sociological or also known as demography. This is the study of human population from many perspective such as race, ethnicity, gender and many other. For Coca Cola to serve in different country require a many marketing research to be done. Coca Cola currently serves in 6 different region which is the North America, Latin America, Europe Eurasia, Africa, and Asia Pacific. Different country has different type of demand for Coca Cola. As consumer now become more health conscious, they have started to develop product such as coke light, coke zero which contain zero sugar content. This is a reactive approach taken by Coca Cola to adapt to the ever changing environment in order to stay competitive in the industry.
Coca Cola’s international achievement can be attributed to numerous of things, but in order to think globally one must first think locally. This is the main message that Coca Cola Company place huge emphasis on whenever they are entering a country. (Miller) Coca Cola has formatted its approach strategically using a tactical method, this is done to provide the appropriate marketing activities and beverage to its customers. As part of Coca Cola vision to taste the same around the world, they have chosen to standardize its product and manufacturing process. In Trinidad and Tobago the local name for Coca Cola is “Coke”. From the perspective of consumers the key conceptual categories are not the flavours and colas that marketer hold in high regard, but what we refer to locally as the ‘black’ sweet drink. (Miller) Trinbagonian’s are particularly fond of sugar and sweet products this is linked to the days of the sugar cane field. Coke came into Trinidad in 1939, while under the British Government. (Miller)
The Coca Cola company has promoted a new campaign launch to help catch consumer’s attention. From 1886 to 2016 Coca Cola has been a well-known soft drink. The campaign launch “Share a Coke with a Friend” that was released in 2014 had grabbed consumer’s attention tremendously. The new campaign was targeting everyone. The Coca Cola company knew they needed to create a campaign that would make an impression on the newer generation. The “Share a Coke with a Friend” Campaign was an interesting approach that made a tremendous change in the Coca Cola advertisement industry. The new ad had drawn in even more consumers.