Marketing
strategy of Coca cola
Coca Cola is world’s leading soft
drink maker and operates in more than 200 countries around the world. It sells
a variety of sparkling and still beverages. It generates 60% of its revenue and
about 80% of its operating profit from outside the United States. It has strong brand recognition across the
globe. According to business insider, approximately 94% of the world population
is aware of the red & white logo of Coca Cola
Segmentation,
targeting, positioning in the Marketing strategy of Coca Cola
Segmentation helps the brand to
define the appropriate products for specific customer group; Coca Cola doesn’t
target a specific segment but adapts its marketing strategy by developing new
products. Similarly it uses mix of undifferentiated & niche targeting
strategies in order to drive sales in the competitive market. Its product Cola
is popular worldwide & is liked by people of all age group while the diet
coke targets niche segment for people who are more health conscious. Coca Cola
uses competitive positioning strategy to be way ahead of its competitors in the
Non-alcoholic beverages market.
Mission – “Our Roadmap starts with our mission, which is enduring. It
declares our purpose as a company and serves as the standard against which we
weigh our actions and decisions.
·
To refresh the world.
·
To inspire moments of optimism and
happiness.
·
To create value and make a
difference.”
Vision– “Our vision serves as the framework for our Roadmap and
guides every aspect of our business by describing what we need to accomplish in
order to continue achieving sustainable, quality growth.
· People: Be a great place to work where people are inspired to
be the best they can be.
· Portfolio: Bring to the world a portfolio of quality beverage
brands that anticipate and satisfy people’s desires and needs.
· Partners: Nurture a winning network of customers and suppliers,
together we create mutual, enduring value.
· Planet: Be a responsible citizen that makes a difference by helping
build and support sustainable communities.
· Profit: Maximize long-term return to shareholders while being
mindful of our overall responsibilities.
· Productivity: Be a highly effective, lean and fast-moving organization.”
Tagline – “Refreshing the world, one story at a time”.
Competitive advantage in the
Marketing strategy of Coca Cola
Coca Cola has competitive edge over
its competitors in terms of Operations, Cost control, Brand portfolio, Channel marketing, Collaborative
customer relationship.
Operations– Outsourcing the bottling operation to the franchisee,
FEMSA which is the largest Bottling franchisee of the Coca-Cola trademark
beverages in the world. It helps the company in capturing important growth
opportunities in under-developed non-carbonated beverage segment and in
strategic acquisitions by entering into agreements to jointly acquire companies
with The Coca Cola Company.
Cost control – Its diversified product portfolio, Outsourcing operations
& economies of scale helps it in cutting its operational cost &
increase its profitability.
Strong Brand Portfolio – Company offers a powerful and wide portfolio of beverages to
its customers, and continuously explores promising beverage categories to
capture growth in its different markets. Its beverage portfolio consist of
carbonated soft drinks, bottled water, juices, orangeades, iso-tonics, teas,
energy drinks, milk, coffee and even beer in some markets such as Brazil.
Collaborative customer relationship
– Coca Cola strongly believes in
participative marketing creating shared values for all stakeholders. Tailoring
its extensive portfolio of products and packages for their stores based on the
local market’s socioeconomic demographics, relevant consumption occasion and
the store’s distinctive characteristics.
Brand equity in the Marketing
strategy of Coca Cola – Coca
Cola is the one brand which is recognized by everyone around the globe. When we
talk about brand equity then it is its value & it’s about stories,
memories, associations, and human connections (although of course, these
connections would have been very carefully and deliberately engineered by
talented marketers over many years and countless board meetings). This is
something that Coca-Cola has been the master of for over 100 years. This equity
is derived from people’s willingness to pay a premium for the brand and an
unwillingness to accept substitutes. Coca-Cola’s marketing strategy has always
been to associate happiness, positivity and the good life with their products, &
that’s how they are able to create high TOMA (Top of mind awareness).
Competitive analysis in the
Marketing strategy of Coca Cola – Big
Giants in the Non-alcoholic beverages segment have similar strategy &
objectives which means innovation & creative marketing campaigns can help
the companies to differentiate from each other. Competition from the local
players is the other major issue that company is facing now days. Pepsi is the
single largest main competitor of Coca-Cola having products across the segments.
Market analysis in the Marketing
strategy of Coca Cola
Non-alcoholic beverages market is
ever-growing industry & with the advent of growing Asian markets &
developing nations the consumption will be higher also due to the changing
lifestyle, economic conditions & changing buying habits. In this industry
customer have got lots of options ranging from water to tea/coffee to soft
drinks, so chances of customer switching to another brand is high. The only way
to differentiate products & retain customers is the strong brand building,
and creating pull in the market.
Customer analysis in the Marketing
strategy of Coca Cola – Coca
cola targets a mass marketing. And the customer expectation is low price, great
taste, convenience & accessibility and various options to choose from.
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