Marketing Methods Of Coca Cola

Decent Essays
In this report, I will be discussing how businesses gain a competitive advantage through the use of various marketing methods.
Marketing is the controlling process that recognises, anticipates and gratifies consumer desires profitably.
Coca-Cola is globally recognized drink corporation and manufacturer. The company is best known for its flagship product ‘Coca-Cola’ which over the years has evolved in order to keep up with the latest consumer trends and demands. Coca-Cola strategically reinvents to respond to the marketing itself. Often criticized for its lack of diligence in maintaining a tagline, changing with the times is a part of the company’s strategy. Not every brand needs to reinvent themselves as frequently as Coca-Cola does, but
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By considering ways to grow via existing products and new products, and in exisiting markets and new markets. The Ansoff Matrix is comprised of four product-market combinations which are as follows:
• Market Penetration
• Product Development
• Market Development
• Diversification
Coca-Cola Ansoff Matrix
Market Penetration
Market penetration is when a firm pursues to attain growth with current products in their present market segments, aiming to increase its market share. An example of this with Coca-Cola is their ‘Share a coke’ scheme. In 2013, Coca-Cola replaced its iconic brand name with 150 common names e.g. Dan, Laura. The aim of this campaign is to encourage consumers to go out to stores and find their name on a bottle and to ‘share a coke’ with their friends, family and loved ones.
Product Development
Product development is when a firm seeks to gain growth by targeting its existing products to new market segments. An example of this with Coca-Cola is vanilla coke. Having had a successful launch in America, Coca Cola decided to launch its new Vanilla flavoured version in Great Britain. Prior to doing so, Coca Cola carried out taste tests and developed the graphical ‘look’ of the Diet Coke brand. When they did this, they took great care to incorporate aspects of the Coca Cola brand, but still differentiating it so consumers would see it as an alternative to Coke.
Market Development
Market development is when a
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