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Marketing Strategy Coca Cola
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Marketing Strategy Of Coca Cola
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There are those who do not know the white and red logo of one of the giant soft drinks – Coca-Cola. One of the oldest brands of soft drinks, Coca-Cola was founded in January 1886 by John Pemberton. At first, he sold it as a medicine for all kinds of ailments.
The company is based in Atlanta, Georgia and is one of the most popular soft drink brands in the world. It was only in 1886 that it became clear that Coca-Cola was not just a medicine. It was an effective cold remedy.
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Today, 94% of the world’s population already knows this logo. Today, the company has sold more than 1.9 billion servings per day, compared to nine servings when it started.
So, how did Coca-Cola understand this changing trend? How did it become a global brand leader in the beverage and soda industry?
Read this article to find out Coca-cola’s marketing strategy and its innovations so far?
Coca-Cola sees every customer as a target and a thirsty potential. The company targets customers of all ages, but is the youngest customer for approximately 40% of its total segment.
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The Coca-Cola Company has been the largest beverage company in the world for over 100 years. Business strategies did not change much during this period.
His marketing innovations combine traditional and modern techniques that work to achieve his goals, putting him ahead of his competitors and creating a brand that becomes iconic. Coca-Cola’s market share in the world is now close to 50%.
The company successfully diversified into other beverage categories, which helped it grow further. Coca-Cola’s product portfolio includes beverages sold as both soft drinks and non-alcoholic beverages.
By 2021, the industry leader sold 3,500 soft drinks with more than 500 brands and 17 billion servings per day in more than 200 countries.
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Let’s not forget that the company also reached the gray market where it was banned – Cuba and North Korea. One of the main reasons for its survival and success over the years is the introduction of innovations and different products over time.
Four of the five major soft drinks are owned by Coca-Cola – Diet Coke, Fanta, Sprite and Coca-Cola itself. The fifth largest competitor is Pepsi.
Like other companies, Coca-Cola emphasizes its main marketing strategy; The 4Ps of Marketing – Product, Price, Promotion and Place.
The most important factor behind the success of coca-cola is its marketing campaign, which is designed for a specific reason that no other company has done before or since.
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It began to expand into countries by acquiring local brands that sell soft drinks or soft drinks. For example, in India, the company sells Thumps Up, Limca, Mazaa, etc. bought brands like For this reason, the company focused on keeping the prices affordable for all sections of society.
Whether rich or poor, the company was there to meet everyone’s needs. Coca-Cola continued this policy in other countries.
Distribution of its products has been an important factor in its success and growth over the years. The company’s distribution strategy is known as “Brand Equity”, a distribution system that allows the company to distribute its products through third-party distributors.
In 1915, when the company lost market share to several competitors and local brands, they tried a defensive marketing strategy.
The Marketing Strategy Of Coca Cola
The company launched a national contest that helped consumers identify the difference between a Coca-Cola bottle and other brown cola bottles. Coca-Cola designed a bottle that would resemble the Coca-Cola logo so that everyone would recognize it.
Since its development, Coca-Cola’s logo and font have remained consistent. And it paid off for them. In 1923, Coca-Cola introduced its logo in the Spencerian font used by accountants.
When competitors like Pepsi entered the market, the company changed its fixed price schedule to match its competitors.
Coca-Cola is one of the most famous brands in the world. And this helped them become a global brand. The company started with local packaging operations in Germany and Italy, but later expanded to Mexico, France and Australia.
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Through expansion, it captured the African and Asian markets. Today, Coca Cola has five active regions; Asia Pacific, Europe, Africa, Middle East, Latin America and North America.
Coca-Cola marketers use sponsorship to promote their products. Coca-Cola sponsored the television reality show American Idol for thirteen years.
The company began sponsoring the Olympics in 1928 and has been doing so for 90 years.
Coca-Cola’s effective advertising and promotion and timely innovations in its beverage made it a global brand.
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Coca-Cola is available in the market from drinks to chips, ice cream and more. It has the widest range of products including food. It offers a wide range of beverages from soda to water, juice and energy drinks. The product is intended for all age groups and genders.
In 2009, the company launched a new product called Coca Cola Zero Sugar. This drink is popular among all age groups because it does not contain sugar, but it still has the same taste as regular Coca-Cola.
In addition, effective marketing campaigns such as “Coca-Cola Campaign” and “Coca Cola Happiness Project” effectively spread the word about this brand.
In 2011, the company launched a promotional cola campaign in New Zealand and Australia to increase brand awareness using the most common millennial names. In this campaign, the company encouraged consumers to share a Coke with someone they knew by that name.
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The campaign received an overwhelming response from consumers, with over 50% of those who tried the campaign sharing a Coke drink with someone they knew.
In 2013, the company launched the Coca Cola Happiness Project in America to promote happiness and surprising moments. The company collaborated with celebrities like Justin Bieber and Beyonce for this campaign. It aimed to create awareness about carbonated soft drinks and their health benefits.
The Coca Cola Happiness Project was a pioneering marketing campaign that helped the company promote its brand image among consumers. This campaign received a great response from the audience and is considered to be one of the best campaigns launched by Coca Cola in recent years.
The company has to spend a lot of money to market the product. Coca-Cola is estimated to spend approximately $1 billion on advertising each year. This includes television, radio and print advertising.
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One of the most common advertising techniques used by Coca Cola is product placement. Companies try to put their products in as many movies as possible to increase brand awareness among the people who watch those movies.
The main idea behind the marketing mix is that you decide how to sell your product, at what price, where to sell it, etc. you have to choose.
Over the years, Coca-Cola has created a diverse range of products. Currently, the company’s portfolio includes 500 brands of carbonated and non-carbonated drinks. The product mix has a total of more than 3,900 drinks.
Coca-Cola has a price discrimination strategy where it charges different prices for the same product in different market segments.
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It is done to ensure that the product is accessible to everyone and that its price does not affect its sales. The company has managed to flex its prices in the changing competitive environment.
Coca-Cola chose different places to sell their products. These include shops, vending machines, cars and airplanes, among others. The company also sells its products in supermarkets and other retail outlets.
In addition, Coca-Cola uses a large network of people to recycle leftover bottles in a variety of ways, saving money and resources by doing it themselves instead of paying someone else.
Coca-Cola has extensive advertising strategies to increase awareness of its product among people. These include sponsorship deals, celebrity endorsements and product placement.
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To make it innovative and long-lasting, a company must build relationships with people, stay innovative, and at the same time keep simplicity.