Coca Cola is one of the most popular beverage producers and distributors with a huge network in more than 200 countries. It has a wide range of still and sparkling beverages. Coca Cola’s 80 % revenue comes from countries other than the USA. Coca Cola has strong brand recognition as more than 94 % of the world’s population knows about Coca Cola (Business Insider). Moreover, Coca Cola Marketing Plan is very aggressive and strong in all regional markets of the world.
Segmentation, Targeting & Position:
While talking about the Coca Cola and its Marketing Plan, it is necessary to focus on segmentation, targeting and position factors. Segmentation is a specialized technique allowing companies or producers to create products according to different types of customers. Coca Cola doesn’t use this conventional approach but it produces new products to catch the audience.
It utilizes a combination of targeting and non-targeting marketing strategies for its products in various corners of the world. For example, Cola product is famous worldwide and admired by almost all age groups. Coca Cola uses various marketing or promotion options to create more recognition using events, occasions, and others. Normally, this company faces high competition by the non-alcoholic beverage producers.
Coca Cola Marketing
Marketing mix: Study more about marketing mix.
SWOT Analysis: Get more details about Coca Cola’s SWOT analysis.
Mission: “The main task is to provide a healthy and safe beverage to all the consumers. Coca Cola always takes decisions to achieve the following targets.
- Refreshing the world.
- Inspire the moments of happiness and optimism.
- To make difference and value.”
Vision: “The main vision of Coca Cola Company is to provide the best beverage to the people. It understands the demands of growing business worldwide. the company wants to win the race of competition by producing high quality healthy refreshing beverages for all consumers. It determines the vision on the basis of the following factors.
- People: It produces the best employment opportunities for the people around the globe.
- Portfolio: It is launching a portfolio of top quality beverages according to the demands and desires of consumers.
- Partners: It is producing a great environment for the partner companies, individuals and groups. It has a big network of distributors, suppliers, and retailers. Together they want to achieve the best value.
- Planet: It is trying to develop a sustainable approach worldwide. It helps the societies and communities to have a sustainable system which supports a sense of responsibility.
- Profit: Just like other manufacturers, it also wants to maximize the profits in the long-term with the help of considerable advantages for everyone affiliated to it.
- Productivity: It wants to be a highly active, lean and effective organization in the world.”
Coca Cola Marketing Plan
What are Competitive Benefits?
Coca Cola enjoys several competitive benefits because of the effective Marketing Plan. It has various edges such as cost control, operations, brand portfolio, customer relationship and channel marketing.
Operations: Coca Cola believes to produce more creativity around. It has developed FEMSA to produce the bottles for all operations. This is a significant approach allowing Coca Cola to focus on other operations to grow business. On the other hand, it also creates more employment opportunities for people around the globe.
Cost control: It has a special product portfolio, economies of scale and outsourcing operations helping to cut the overall production costs and maximizing the total revenue.
Strong brand portfolio: Coca Cola offers a wide and powerful portfolio of healthy beverages to consumers and helps them to explore the best taste. It tries to capture the new heights of growth in various markets. It produces soft drinks (carbonated), bottled water, iso-tonics, orangeades, juices, teas, milk, energy drinks, beer, and even coffee.
Collaborative customer relationship: Coca Cola strongly promotes the culture of effective and responsive customer support. It has high values for the stakeholders. It is now involved in macro as well as microeconomics of various countries. From manufacturing to bottling and distribution to retailers, Coca Cola is a big opportunity for a sustainable economy.
BCG Matrix in Coca Cola Marketing Plan
Depending on the demand and competitive status, Coca Cola captures varying levels in the BCG Matrix. The Star rating goes to Maaza, Fanta, and Sprite. These products are in high competition but these have a great demand and value in the markets.
Kinley is in the Question Mark category because of the considerable low sales. Coca Cola is still unable to give it proper recognition or attention in the markets because of the developed competitive products in the markets. This is why Kinley produces very low sales for it.
Cash Cow status goes to the main brand Coca Cola. Yes, it is a reason why we know this company. It has only one strong competitor Pepsi but it seems ahead in the markets worldwide.
Coffee, tea, and coke-diet are brands in the Dog category. These products are unable to have a reasonable attention level in the markets. These are under establishment brands and they will require long-term investments.
Distribution Strategy in Coca Cola Marketing Plan
The distribution policy of Coca Cola in its Marketing Plan has prominent attention. Coca Cola employs different sales & distribution models. They consider the local markets, customer’s profile and geographic conditions while choosing the sales & distribution strategies. Consider the following points when studying distribution approach in Marketing Plan of Coca Cola.
- Pre-sale system: It is best to create a difference between sales and delivery. It also enables the company to permit the trucks loaded with various types of Coca Cola products. Retailers order these trucks depending on the sale flow. This is an amazing method to improve sales as well as the distribution efficiency.
- Coca Cola appoints the drivers and in-charge of sales on each truck: This is a great method to understand the delivery routes, sales points, inventory monitoring, and revenue collection.
- Hybrid distribution system: It uses a mix of previous and current products orders to be delivered at the same time. This is done by using the same truck going to the specific direction.
- Telemarketing system: This combines with pre-sales visits and current sales orders by any wholesaler of a brand.
Brand Equity in Coca Cola Marketing Plan
Coca Cola is a top-notch brand present in the minds of people around the globe. Talking about the Coca Cola’s brand equity reminds us of associations, relationships, memories, stories, connections, and even romance. These things are properly marketed by the marketing experts in their promotional videos, messages, and others.
Coca Cola has mastered in the utilization of these special factors. It is now among the top choices for the people around who want to buy the Coca Cola brands rather than another substitute even if less expensive. Coca Cola tries to link its marketing strategies to human experiences, happiness, good life and positivity. They use Top of Mind Awareness (TOMA) to create more awareness about various brands.
Competitive Analysis in Coca Cola Marketing Plan
It is impossible to complete the study of Coca Cola Marketing Plan without focusing on the competitive analysis. Coca Cola faces competition by the huge manufacturers having a solid ground in the markets everywhere. They require innovation, objectives and creative marketing plans to go ahead. Coca Cola significantly uses the creative state of the art strategies to stay prominent in the markets. It is very helpful for marketing specialists to see the new moves of Coca Cola in different regions. Coca Cola has won the competition with international competitors but it still faces strong threats from different local brands. There are nations with a mind to prefer local brands over international brands. Pepsi is the only international player trying to have a competition with Coca Cola in the world.
Market Analysis in Coca Cola Marketing Plan
Finally, it is necessary to see the marketing analysis in Coca Cola’s Marketing Plan. Beverage industry (non-alcoholic) is growing with rapid speed in the world. The new targets of these companies are Asian and African markets where local manufacturers are unable to feel with the standard production systems. Coca Cola is a top case to study the local economies. It is changing the buying habits, lifestyle and local economic situations. This beverage comes with huge choices including Cola, Kinley, coffee, tea, juices and more.
It makes the buyers purchase the Coca Cola brands even if they have the option to buy a less expensive alternative. Now doubts, brands of this company are in different BCG Matrix and not all have equal popularity but there is potential for each brand. Coca Cola is trying to create awareness about all the products. It doesn’t leave any reason for customers to switch when they come to departmental stores.
Remember, the customer analysis is another essential factor of the Marketing Plan of any company. Coca Cola Marketing Plan always gives a high preference to customer’s expectations. It usually tries to keep the prices low. However, there is no compromise on product standards and quality. On the other hand, it also gives special attention to the distribution and delivery of different brands. This makes customers access the best tastes easily.