1. Account for the marketing strategies pursued by The Coca Cola Company?
2. Classify the product of The Coca Cola Company
3. Analyse the product mix decisions of The Coca Cola Company
4. Taking your starting point in Fig. 8,5 p. 245 pls. account for;
5. Evaluate (Discuss) the product and Brand portfolio of The Coca Cola Company?
Coca Cola probably has many different marketing strategies, but the easiest one to apply is the 4P´s: Their product is simple, soda, but what makes Coca Cola stand out is their long-term presence in the market
as some would say that they started the market and created demand. Their place or location is also interesting, as Coca Cola has managed to sell their product in all but two countries:
Cuba and North Korea. This strengthens their customer relashionship as well, since many would rather buy what they know instead of a local brand when travelling or relocating.
Since Coca Cola is mostly a business to business company, their prices are set after that, meaning that they sell their product for a lower price to the supermarkets than what we pay.
This has also been great for making their product more available, while still saving money, since having to open their own shops would entail unnecessary cost. With that said, they do have a Coca Cola World in the US
where they show their history and variety of products, while also selling their product directly to the consumers. If we look at the Ansoff matrix, also known as future growth strategies, Coca-Cola pursues this strategy to a fault.
They certainly apply product development, as they increase their market share continuously through introducing new products from existing brands, or they aqquire new companies in that market.
Coca-Cola also makes use of market penetration, as they tailor their advertisements to a certain culture or country. An example could be the Premier League, which Coca Cola sponsors
and in return they get to customize their cans to represent the different teams, increasing their market share in an already existing market with existing customers.
Market development is also seen by Coca-Cola, since they often try to increase their customer base internationally, mostly through tailored advertisements to fit a culture or certain event, and though they tailor their advertisements
they still always sell the same idea: Coca Cola is a refreshing drink that represents youth. Coca-Cola does not pursue diversification as much as the other growth strategies
purely in the sense that all the products they offer are in the same market, which of course is a successful concentric diversification, but that would be the only form of diversification that can be applied directly to Coca-Cola.
They could eventually use conglomerate diversification, like Disney did with Disneyland, but it would be hard for them to do that without tainting their brand image, which could be damaging for a company like theirs
since it is such a big part of the product itself. They also take the power of individual promoters very seriously, with their many celebrity ambassadors, such as Lebron James, Taylor Swift, Elvis Presley and more.