Coca Cola has been in the soft drink industry since 1886. The Coca Cola Company’s sale has increased by over 4000% in between 1890 and 1900 after Asa Candler, a pharmacist and businessman, bought the Coca Cola formula from John Pemberton, a pharmacist that invented Coca Cola, and marketed it aggressively (Bellis, 2017). Over the years, the company has been introducing beverage in varies category, such as, juice, coffee, and sports drinks. The brand is also growing worldwide. According to Brand Finance, a London consulting firm, Coca Cola was the most valuable brand in the world in 2007; however, they are now 16th in the U.S. and 27th in the world (Grantham, 2017). A legendary investor once said that Coca-cola was a strong company that can be run by ham sandwich; however, the company is having a downfall nowadays. Even though the company is still making money, but Coke’s revenue has slipped for the past four years. One of the biggest reasons might be the changing of people’s lifestyle. As more diseases been discovered, people preferred a healthy lifestyle, which makes them cut back on their sugar intake to avoid obesity and diabetes. Besides that, consumer tastes are also often shifting towards new products as there are more rising companies trying to compete in the beverage market. Problem Statement The Coca Cola Company must address the changing in consumers’ lifestyle and preferences in order to avoid losing money in the future. Alternative Solutions In order to fight with the upcoming competitors, the Coca Cola Company needs to keep up with the changes in consumers’ preferences and lifestyle. Coca Cola Company should focus on producing variety of beverages that can cater different groups of consumers, for example, those who are weary of sugar intake and those who drink for the taste and does not mind the sugary sweetener. Most people are actually not aware of the other beverage offered by the company and they can only relate the company to a high sugar soft drink. By introducing new beverage or pushing their other beverages to get more recognition, they can satisfy more consumers’ needs. Next, in order to get more consumers to come back to Coke, they can improve their marketing strategy. One way that
Coca-Cola is one of the most recognizable brands around the globe. The history of Coca-Cola began over a century ago since 1886. Today Coca-Cola sells products in over 300 countries world-wide, and has over 3,000 different beverages. The brand is familiar to people all around the world, and is available in many different varieties. The company takes pride in the development of unique marketing strategies, which have allowed growth and access to various places throughout the world. Their extremely recognizable branding is one of Coca-Cola 's greatest strengths and the simplicity of its bottling is a part of a great marketing strategy (Spring,2002). Coca-Cola makes money primarily from selling
Once implemented, in my opinion, Minnick’s strategy should impact the company successfully. Coke has been a leader in the carbonated drink industry for years, but they are missing out on another opportunity that can put them a step ahead of everyone else. By expanding and diversifying their product line, Coke is maximizing its exposure in the industry. With the new age came new consumer trends and demands. In order to stay ahead, Coke must enter new market segments to keep up with the other competitors in the industry, such as PepsiCo. By entering new segments with innovative products, Coca-Cola can capture a new audience and expand in untapped market niches. The company would increase profitability by generating income from an additional segment outside of the already successful carbonated-drink category that didn’t previously exist.
In 1886, the Coca Cola Company was developed but it wasn't until 1898 that the fierce competitor Pepsi-Cola entered into the market. These 2 companies are the two major players that dominate the consumer beverage (soft-drink) industry. Coke and Pepsi have since been competing to rein the global market in consumer beverages. The market of drinks in the United States alone is valued at more than thirty million dollars annually. With the growth of these two companies, PepsiCo has developed and acquired additional products outside the scope of just the consumer beverage industry, these products have helped the company to increase their exposure and position in the global market. This has not been the case for the Coca Cola Company; they
The Coca Cola Company is the world’s leading owner and marketer of nonalcoholic beverage brands. In order to achieve long-term sustainable growth they look at their brands, financial strength, unrivaled distribution system, global reach, and a strong commitment by management and associates worldwide. The company focuses on inspiring their employees, satisfying customer desires, nurturing partners, making a global difference, maximizing returns to shareowners, and managing for overall effectiveness. The financial statement that the Coca Cola Company provides shows their strong leadership by the data they present. By discussions held in class it allows us to analyze the following
Coke was invented by Dr. John Pemberton, an Atlanta pharmacist and his three-legged brass pot all the way back in 1886; by 1985 Coke was closing in fast on its centennial anniversary. (Cook, 2002) Coke along with the legendary chairman Roberto C. Goizueta had witnessed a remarkable set of accomplishments during the 1980's. There were some creeping problems, however. The 87-year old rivalry between Coca-Cola, the
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.
Coca Cola has differentiated its product and services that are valued by its customer. Its product are based on customer’s preferences, with affordable price and made easily accessible.
Coca cola is global company that supplies soft drinks its measure retail around the world. Coca cola wants soft drinks readily available to0 its customers. They don’t emphasize on exclusivity. Coca cola has flexed its financial muscles by buying it’s closed to compotators, and this includes (Fanta, cherry coke, vanilla, Evian, monster and sprite).
them to identify their best resources and capabilities to continue to advance the company. Coca-Cola’s resources have contributed to the competitive advantages and are important in the company’s future strategies. Gamble (2011) states, “Even though Cola-Cola was the worldwide leader in carbonate soft drink sales, it had struggled to build market share in alternative beverages and trailed PepsiCo by a significant margin worldwide in energy drinks, sports drinks, and vitamin-enhanced beverages. Asia was the only geographic market where Coca-Cola’s sales of alternative exceeded the sales of PepsiCo’s energy drinks, sports drinks, and vitamin-enhanced beverages. In the United States, Coca-Cola was the third-largest seller of alternative beverages, with its combined sales of Powerade, Full Throttle, Nos, Rehab, TaB, and Vault energy drinks; glaceau vitaminwater; and Fuze vitamin-enhanced drinks, falling just short of the sales of Red Bull energy drink (p.273)”. Coca-Cola resources and capabilities have to be strengthened and nurtured to remain competitive in the energy and sports drink industry.
The Coca-Cola organization has made exemplary strides mainly to offer a variety of products to its clients even with the competitive nature of the market. Consumers’ choice gets based on the brand aspect in which the organization wins most customers' heart against its rivals. Even though a significant number of people deny cases to having inclination picking between Coca-Cola items or its rivals', many have a strong desire in some way. Many inclines toward Coca-Cola products since the organization has more than hundred years of history and predictable brand image. This picture is engraved in a lot of people subsequently end up purchasing their beverages. It is out rightly conspicuous in the company’s high market share in the field of soft drinks.
The Coca Cola industry is a vibrant model that started in 1886 by John Styth Pemberton who was a pharmacist in Atlanta, which is the capital; headquarter for the Coca Cola Company. It is the world’s primary manufacturer of non-alcoholic beverage and operates on a global scale across over 200 countries worldwide with over 500 brands. The company is widely recognized by 94% of the world’s population (coca cola Company.com). Coca Cola is largely successful, has become the iconic beverage of the American culture, is ranked number three in the world, and is regard as “happiness in a bottle worldwide (bestglobalbrand.com) The company post revenue of 5.37 billion dollars with a 2% rise in the North American market (NBC.com). This report will therefore examine many different aspect of the Coca Cola company which as allow them to become the beverage and brand of choice worldwide.
Another important weakness is that the company’s products are seen as a major cause of obesity. (Melser, 2013) The beverage sales are affected by various factors including change in trends and preferences. Recently, beverage sales have fallen because of people’s increased preference for the health drinks. Around the world, obesity is a major problem and the Coca Cola products are seen as a major cause of obesity. As people are getting health conscious they are moving towards low calorie healthy drinks. This affects coca cola’s profitability and popularity. However, the brand can overcome this situation by increasing the number of low calorie products in its brand portfolio. It will need to add more healthy choices for its customers in its product portfolio.
Coca-Cola has been around for generations with the same iconic taste, logo and symbolism. Its brand has represented family and the memories of good times, celebrations and comfort of being with those we love. Unfortunately, the company has not made good marketing decisions in the recent past and has lost relevancy. The purpose of this essay is to assess the conditions that created Coca-Colas marketing problems, evaluate the future of healthy beverages and non-carb drink brand extensions, and provide recommendations to the management.
Coca-Cola spends huge amounts of fund on marketing every year to remain its competitiveness. However, recently, Coca-Cola had a weak global growth. The sales volume of soda is not so satisfactory. Coke is claimed to have too many calories and sugar, thus being bad to health, as a result of which, consumers turn their attention to other drinks (Kell n. pag.).