Introduction World count: 3124
Marketing is the management process responsible for identifying, anticipating and satisfying consumers' requirements profitably. (Kotler, 1994)
The Coca- Cola company is the largest manufacturer, distributor and marketer of non-alcoholic beverage concentrates and syrups in the world. Finished beverage products bearing its trademarks (Figure 1), sold in the United States since 1886, are now sold nearly 400 brands in more than 200 countries and include the leading soft drink products in most of these countries.
Figure 1. Coca-Cola Trademark
A key factor in Coca Cola’s success is its power in the industry. Although it has major competitors such as Pepsi and Virgin Cola, it owns the vast majority of soft drink selection. The company owns Schweppes, Oasis, 5 alive, Kea Oar, Fanta, Lilt, Dr Pepper, sprite and the sports drink Powerade.
Coca-Cola Marketing Strategy
Coca Cola uses many ways of marketing to make sure that the brand does well every year. These include: sales promotions, advertising and public relations. The Company spends $1 billion annually on advertising and marketing worldwide.
While marketing a product, the primary task is to introduce it into new markets by removing the barriers of unfamiliarity that the consumers face. The Coca-Cola Enterprise’s marketing strategies include reinforcing a belief that anyone who comes into contact with the company’s products should receive some benefit. (www.cokecce.com) By implementing a strategy called Community Marketing, Coca Cola employees play a major role in customer success, by increasing the presence of Coca-Cola at the neighbourhood level.
Douglas Daft, CEO of Coke, feels that Coke should stop telling the people why they should buy the product and advise them to drink it instead. (www.nacsonline.com).