Coca-Cola INTRODUCTION Coca-Cola has been around for generations with the same iconic taste, logo and symbolism. Its brand has represented family and the memories of good times, celebrations and comfort of being with those we love. Unfortunately, the company has not made good marketing decisions in the recent past and has lost relevancy. The purpose of this essay is to assess the conditions that created Coca-Colas marketing problems, evaluate the future of healthy beverages and non-carb drink brand extensions, and provide recommendations to the management. COCA-COLA BACKGROUND The Coca - Cola Company began its legacy in 1886. Dr. John Pemberton, a pharmacist from Atlanta, created the patented Coca - Cola syrup for sale in fountain …show more content…
They have succeeded in focusing on the brand image, customer retention and adding social and ethical benefits to every bottle they sell (Coca-Cola.com, 2014). “In advertising, everything depends on strategy applied on the market, which is adjusted to the positioning” (Moraru, 2010). Innovation is much more than taking a current beverage and repackaging it with different flavors. It also means more than boosting Coca-Cola Classic sales (Cravens, 2009). “New formulations could potentially serve as the basis for future advertising efforts, while providing shelter from health critics and politicians who blame soda for the nation's obesity epidemic” (Schultz, 2013). New formulations and brand extensions will help consumers that are no longer purchasing the brand to try new flavors or brand products, have a positive experience, and then hopefully return to the purchasing of previous products also (Bloomberg Businessweek, 2005). The innovation strategy should strengthen the brand. Despite being a billion dollar 125 year company that is a household name around the world, Coca-Cola has had to cope with unexpected situations and variation of positioning based upon the main competitions movements, Pepsi. According to Trout and Reis, (2001, p. 10) “Truth is irrelevant. What matters are the perceptions that exist in the mind.” This is a thinking process called outside-in
Coca-Cola history began in May 8 1886 when the curiosity of an Atlanta pharmacist, Dr. John S. Pemberton, led him to create
Coca-Cola is shifting its product strategy to develop healthy beverages. “Minnick’s ambitions, if they hold, would utterly redefine Coca-Cola’s image as a purveyor of sugar-laden junk that you should’ve give your kids” (Carvens & Piercy, 2009). Entering a healthy-beverage market segment can potentially improve as well as expand Coca-Cola image. The new market segment will reel in even more consumers for the company, only
Coca-Cola is among the most recognized brands in both corporate history and the present day consumer market. Both domestically and internationally, Coke is not only the leading soft-drink brand, but it is also among a number of elite corporate entities whose consumer appeal and sustained viability have made them cultural institutions on a global scale. And for a long time, Coke's status as the single great power in the global soda marketplace seemed unimpeachable. But the late 1990's, a time both of burgeoning global-economic upheaval and challenging corporate recalibration, presented Coke with a similar problem to that facing many of the top corporate brands in America. As the domestic market become evermore splintered and international markets continued to open up, Coke's supremacy in the market was beginning to be challenged, particularly by the presence of Pepsi and other competitors. Perhaps even more than its competitors though, Coke's biggest challenge today comes from the medical and nutritional communities. This is a particular area of concern for the Coke brand which, in spite of its recognition and popularity, has increasingly been associated with issues of childhood diabetes, obesity and the proliferation of heart disease. This has imposed a great deal of pressure on Coca-Cola to demonstrate a meaningful connection between the brand and something of nutritional value.
Coca-Cola is the result of a patent medicine formulated in a small southern pharmacy over a hundred years ago. It has grown into a multibillion dollar international company. It also owns one of the most valuable brands in the world. Their Coca-Cola banner has won the world’s top brand 13 times on brand c-consulting firm Interbrand’s annual list (Fraser, 2012). In addition to its main product, Coke, the company owns over 3500 beverages. One of its core competencies is brand building. They have built their brand to have respectability and dependability. Their brand and logo are recognized all around the globe. It has actually become a new known on almost all households worldwide (RNWILKIN, 2009).
In this time where the world is quickly changing, Coca-Cola should consider shifting with consumers by personalizing and customizing products to healthy ones. They should become more global and focus on systematic problem solving to help solve this problem. So that, in the instance actions is taken against high level sugary or caloric drinks, they would not be affected and the beginning product, the foundation of the company’s name would not be
The company is best known for its flagship product Coca-Cola, invented in 1886 by pharmacist John Stith Pemberton in Columbus, Georgia. The Coca-Cola formula and brand was bought in 1889 by Asa Griggs Candler, who incorporated The Coca-Cola Company in 1892. The company operates a franchised distribution system dating from 1889 where The Coca-Cola Company only produces syrup concentrate which is then sold to various bottlers throughout the world who hold an exclusive territory. The Coca-Cola Company owns its anchor bottler in North America, Coca-Cola Refreshments.
Description: The Coca-Cola Company is the world 's largest beverage company and is the leading producer and marketer of soft drinks. Today, Coca-Cola is consumed throughout the world at the rate of more than 600 million times per day and this figure is continuing to rise. However, Coca-Cola is not the sort of company to live on its past glories; instead it looks to the future as a challenge and constantly seeks new markets and ways of increasing its market share in areas where it currently has a strong presence. It is the world 's largest producer and distributor of syrups and concentrates for soft drinks. Products developed by the Company are sold through
PepsiCo Inc. was founded in 1965 with the merger of two companies: Pepsi-Cola and Frito-Lay. Since then, it has become one of the world’s largest and most successful food, snack, and beverage corporations. PepsiCo Inc. has reports of sales of over $510 million and employs over 19,000 workers (Who We Are). Its products are provided and sold throughout the world. Many of their top products since the merger for the Pepsi-Cola Company are Pepsi-Cola (made in 1898), Diet Pepsi (1964) and Mountain Dew (1948). For Frito-Lay Inc., their top products consist of Fritos (made in 1932), Lay’s Potato Chips (1938), Cheetos (1948), Ruffles Potato Chips (1958), and Rold Gold Pretzels (1961). PepsiCo Inc.’s main headquarters are found in Purchas, New York, in the United States. PepsiCo is celebrating its 50th Anniversary this year since the merging of the two companies. Chairman and CEO, Indra K. Nooyi, has stated that, “PepsiCo’s first fifty years are now part of history – but our story is still being written. Reflecting on all we have achieved together, and on the infinite possibilities ahead, I am confident that it will be one for the ages” (Who We Are).
A continuous change in innovation: Coca Cola considers the physical appearances of its products as a strategy in attracting consumers, itself. Change in designs of both cans and bottles for celebratory occasions, can be seen as being practiced by Coca
Understanding the complexities of a brand identity and its position is no easy task. A good case in point is the activities of Coca-Cola in the last few years. After a $4 million research project, Coca-Cola brought out a new Coke formula in May 1985 with the intention of retiring the old formula. To everyone's surprise, the intense feelings of American consumers
While Coca-Cola has always operated using a marketing strategy that was traditional and in line with their longstanding culture, Pepsi has taken a different approach, even attacking Coca-Cola. Pepsi has begun to market itself as “hip”, “fun”, and “social”. They are sponsoring music festivals and targeting the younger crowd. In essence, Pepsi is trying to create a “cool” culture. Since brand loyalty and customer retention play huge roles in the beverage industry, it is important for Pepsi to find their identity and stick with it to ensure lifelong customers.
The primary industry Coca-Cola is in the Soft Drink Manufacturing market consisting of different types of soft drinks with its target being at mainly restaurants and grocery stores across the United States. Varieties of coke include serves different coke flavors such as original, vanilla, cherry, and caffeine free. Even though these different types of Coca-Cola products are sold as consumer products, they serve as a core component for other types of soft drink products, including non-carbonated and concentrated juices. The soft drink industry has been positioned Coca-Cola products of all kinds. Coca-Cola’s market for the original coke consists of consumers of all types who are looking for the original best tasting product ever existed in the history of soft drinks.
The drink that is now known as Coca-Cola was invented in 1886 by a pharmacist in Atlanta. Dr. John S. Pemberton created a syrup that could be combined with carbonated water and sold at soda fountains. The unique taste was a hit with all those who tried it and soon after its creation, the drink was trademarked and named with the help of Pemberton’s partner Frank M. Robinson (Cantwell, n.d.). Initially, a single serving was a mere five cents and only an average of nine glasses were sold each day in Atlanta. From there the drink took off and today an immense 1.9 billion servings of Coca-Cola are sold worldwide each day (Coca-Cola history, n.d.).
The company selected for this project is the Coca-Cola company. Coca-Cola is an internationally recognized brand that has been around for 125 plus years. While the company has had years of success with its signature soft drink Coke, consumers are becoming more health conscience with their beverage choices. With more research coming out about the effects of sugar and artificial ingredients on an individual’s overall health, Coca-Cola will continue to explore products that are low in sugar and natural. Howard Telford, Senior Beverage Analyst for Euromonitor, states that “Widespread changes in consumer consumption of soft drinks, seeking new healthier, functional and natural drinks – necessitate a companywide focus on the creation and
In 1886 Dr. John S. Pemberton created a distinctive tasting soft drink and in 1899 Benjamin