Marking plan for coca cola
Marking plan for coca cola
The Coca-Cola company is one of the organizations leading in the manufacturing of carbonated soft drink. The development and evolution of the company have grown into different levels until the 20th century, where it has dominated the food and beverage industry. The company was initially founded in 1885 in Columbus, Georgia by Pemberton eagle and chemical house. Further, various activities in the sales and branding which have taken place until its current management operations. For instance, the company was set for incorporation in 1892 and later in 1919 it was purchased by a group of investors for $25 million and set for reincorporation by selling 500000 public shares at $40 per share.
In the 21st century, the company made profound changes in terms of its operations in various regions in the world (Barkay, 2013). Coca-Cola company has implemented its strategies in marketing to maintain its market share in multiple perspectives to make profits. The company is operating in more than 200 countries and sells a variety of sparkling and beverages. Notably, Coca-Cola generates 60% of its earnings outside of united states, although most of its operating profits are managed within the country (Barkay, 2013). Therefore, it is essential to address the mission, statement, marketing analysis, which consist of competition, global network the SWOT analysis and summary of the marketing structure in the industry.
The Mission Statements
The business world is challenging for most of the companies and requires the development of mission statements and objectives to guide them in their operations. Therefore, the mission statement of the Coca-Cola company is to inspire established moments of optimism and happiness through the brands and actions. Similarly, it also focusses on refreshing the world in mind, spirit and body by creating value and making a difference in people’s lives.
Coca-Cola is known for its production of carbonated soft drinks beverages in the industry. Additionally, for many decades, the brands which are produced by Coca-Cola company consist of the minute maid, diet coke, gold peak, Coca-Cola Zero, Dasani, Powerade, Fanta sprite and ice dew. Moreover, through its concentrate operations, the organization often sells concentrates and the syrups mainly to the authorized bottling and canning operators (Barkay, 2013). The partners either combines the foci with the sweeteners depending on the products to be produced and sparkling water. The finished products or beverages are packaged within the authorized containers such as cans and refillable glass and bottles. Besides, these finished products are then sold directly to the retailers or through the wholesalers. Notably, outside the united states, the company sells the concentrates for fountain beverages to its bottling partners. The other brands which the company product is the monster energy which is only produced and distributed to designated international markets, Canada and the United States (Allen, 2011). Coca-Cola company also manufactures and distributes certain brands to a third party and consist of brands of Dr Pepper Snapple, which is a joint venture with the nestle corporation. The distribution of these products is mainly destined to the European and Canada markets.
Although Coca-Cola is the leading company in terms of market share in the world, it also has various competitions in different regions. One of the biggest competitors in the united states is called the Pepsi company. Pepsi company was formed in 1965 with a struggle to develop their products and revenue generation for the past decades. The company has 20 billion-dollar brands of products portfolio with the U.S being its most significant market share in an intense competition with Coca-Cola (Gupta, 2015). The other competitor for Coca-Cola is Dr Pepper Snapple, which also has more than 50 brands. Its revenue as of 2017 was 6.4 billion dollars, which were earned from united states of America. The other competitors consist of Nestle and Parle, which operates in different regions. Parle is an Indian brand which competes under the specific product categories, which include juice and water.
Coca-Cola company is considered as a worldwide corporation which operates in more than 200 countries. The company has employed different specialists to assist in the management of its activities in different markets. It has 62 000 employees who work within its premises as marketers’ managers and subordinate employees.
The SWOT analysis
The SWOT analysis assists in addressing the internal and external environmental factors which are associated with the operation of the Coca-Cola company. These elements are useful to determine the strength, weakness opportunities and threats of the organization in the market.
The strength of coca cola consists of brand equity enjoyed by the company this is one of the advantages since its presence can be felt in the world with a unique brand identity. In most cases, this one of the valuable assets in which the company invested to keep being the leader in the market. The other strength is Company valuation which is recognized to be one of the valuable organizations in terms of revenue generation and assets combined. Valuation indicates the brand value where various factories can spread out in the world and completes operations costs and profits in the market (Allen, 2011).
Weaknesses of coca cola is the level of competition with Pepsi which is incorporated as a high level of competition to Coca-Cola, making it efficient in its operations to avoid the effects of losing customers and market share. The other weaknesses is product diversification is low which is also a challenge for Coca-Cola company. For instance, Pepsi company have made a smart move to increase its product portfolio by diversification into snacks segments. The Opportunity of coca cola is diversification which is the way to improve a healthy operation of the beverage industry to the customers. As a result, this may ensure an improvement in revenue generation from customers across different markets (Allen, 2011).
Supply chain management system- the supply chain used by the company is focused on completing business transportations and distributions. As a result, this will assist in keeping strict in the watch to bring the cost down. Market the lesser selling products is another factor which states that the portfolio of Coca-Cola is determined to find the accepted ways to minimize the cost of the advertisement. They concentrate on the marketing of these products by raising sales of the products to gain revenue to the company. The threats of coca cola is the process of Sourcing of raw materials- some resources such as water is considered to be the threat to Coca-Cola company. This has been suspected given the massive consumption of water in the production of their products. The main reason for this is based on climate change and regions in various countries which face scarcity of water (Allen, 2011). Indirect competitors is also another factor which describes indirect competitors, such as coffee chains within the market. These may consist of Starbucks, costa coffee, café coffee day, among others.
Market Segment and Brand Analysis
The marketing strategy for Coca-Cola is based on the use of competitive positioning to determine its segmentation. Besides its segmentation has been distinguished into different forms which suit their operating systems. The geographical segmentation is one of the market segments which the company used to target specific customers of varying age groups, ethnic, sexes and lifestyle (Shaik, & Ritter, 2012). For instance, the production of oasis juice was made for younger age groups in the market. Besides, Coca-Cola has also implemented the psychographics segmentation, where it uses the ability or perception that people recognize the brand. Therefore, they will automatically use the products
4Ps, branding strategy
Product strategy: the corporate present to the market the finest, latest and advanced line of production of non-alcoholic drinks globally
Pricing strategy: the corporate’s environmental analysis relates to its appraising policy. The notion for Coca-Cola is to use price leadership in its operations to satisfy the customers. The effort to set this aspect is based on the need to present the prices for the competitors in the market (Shaik, & Ritter, 2012).
Distribution strategy: this describes the corporate’s delivery, which is placed advantageously around the globe. The latest form of supply chain management used by Coca-Cola is based on franchising to the partners.
Promotion strategy: The corporate is prevalent across the world to be the principal of manufacturing the beverages. The primary strategy used by Coca-Cola is mainly through closing the gaps through various platforms (Shaik, & Ritter, 2012). The advertisements are in magazines, TV ads, printed newspapers, and internet websites.
Allen, A. (2011). The role of history in place marketing: Can branding create a sense of place?. Journal of Town & City Management, 2(1).
Barkay, T. (2013). When business and community meet: A case study of Coca-Cola. Critical Sociology, 39(2), 277-293.
Gupta, V. (2015). Content Marketing: Say Something; Say It Well; Say It Often. Tillgänglig på internet: http://www. academia. edu/13045097/Content_Marketing_Say_Something_Say_It_Well _Say_It_Often [Hämtad: 10 Februari 2018].
Shaik, N., & Ritter, S. (2012). Social Media Based Relationship Marketing. In E-Marketing: Concepts, Methodologies, Tools, and Applications (pp. 88-110). IGI Global.