Marketing Strategy of Coca Cola | Coca Cola Marketing
In the beverage industry, Coca Cola is a leading name globally and operating in 200+ countries and territories. It sells a range of soft drinks and generating revenue from every region of the world. There is no doubt that Coca Cola has a strong brand image across the world. According to a survey, nearly 95 percent of the people in the world are aware of the company’s name and drinks. Due to Coca Cola Marketing, the brand gained immense popularity and recognition all over the world. In this article, we are going to share the important marketing strategies of Coca Cola.
Important Factors in the Marketing Strategy of Coca Cola:
Segmentation, Targeting and Positioning | Coca Cola Marketing
Just like any other company or brand, Coca Cola’s segmentation strategy is based on demographic, psychographic, and behavioral factors. They use specific segmentation strategies to market their products and attract users by introducing new products. They use both niche and undifferentiated marketing strategies to drive their sales in the market. From kids to youngsters and millennials, everyone is a fan of Coca Cola, and it is a universally liked drink. They offer a wide variety of beverages, including zero or diet coke for health-conscious people. The company utilizes a competitive positioning strategy in order to take the lead in the competitive market, especially in the non-alcoholic beverages industry.
Mission: The primary mission of Coca Cola is to refresh the world with its sparkling and still drinks. They want you to inspire your moments of happiness with its beverages. They want to create value in order to make a big difference and statement in the beverage industry.
The vision of Coca Cola is to produce quality products in a sustainable way. They are investing in this segment in order to reduce its carbon footprint to achieve sustainability. They want to create a diverse range of products according to people’s demands and desires. The company is also collaborating with suppliers and stakeholders to create eternal relationships. They are also contributing towards sustainable goals. Profit is the main factor, and Coca Cola is hoping to increase its market share and value.
Competitive Advantage | Coca Cola Marketing
It is tough for any company to compete with Coca Cola due to its effective operations, diverse brand portfolio, and useful branding. Let’s discuss some important competitive advantages of Coca Cola.
The company has subcontracted the bottling operation to the FEMSA. It is the largest bottling company which is directly helping the company in achieving crucial growth opportunities. It is a major competitive advantage that Coca Cola has over its competitors.
Coca Cola has an effective and vast product portfolio which is directly helping the company to reduce its operational cost. In this way, they can increase their profitability and market share.
Coca Cola’s offerings are diverse in the beverage segment. They are operating in different markets. Customers can find various offerings, including soft drinks, iso-tonics, orangeades, milk, coffee, energy drinks, juices, bottled water, and more. They are also selling beer in Brazil and its territories.
The company strongly believes in collaborative marketing and working. They have maintained strong relationships with customers, stakeholders, and suppliers to support their operations and work.
BCG Matrix | Coca Cola Marketing
Different products of Coca Cola hold specific positions in the BCG matrix. Maaza, Sprite, Fanta, and Thumbs-up are in the star category because of their uniqueness and taste.
Kinley is in the question mark category due to the presence of local and international players. Coca Cola is the cash cow of Coca Cola Group because of its immense popularity and emotional attachment with users. It is one of the most trusted brands in its product portfolio, and Pepsi is the main competitor in this segment. Tea, coffee, and diet options are dog because of their low sales and low popularity.
Distribution Strategy | Coca Cola Marketing
Coca Cola uses plenty of distribution models and sales strategies on a demographic basis. Thus, they utilize a pre-sale system that splits the delivery and sales functions. It gives a wonderful opportunity to Coca Cola to distribute and earn profits efficiently. Conventional truck route system is another distribution strategy that provides immediate stock to retailers directly from the inventory. They also use a hybrid distribution system, telemarketing system, and sales through third-party wholesalers.
Brand Equity | Coca Cola Marketing
Everyone can easily recognize Coca Cola’s white and red monogram. It is a popular brand and drinks. When it comes to brand equity, Coca Cola has wonderful brand equity due to its strong consumer base, human connections, effective distribution strategy, stories, associations, and memories. It is all due to the creative marketers and several board meetings. According to market experts, it is impossible to beat the market share and value of Coca Cola because of its strong position and huge popularity. The company celebrates your happiness and success by providing high-quality beverages that give extra charm to your parties and occasions.
Competitive Analysis | Coca Cola Marketing
Several alcoholic and non-alcoholic beverages are using the same objectives and marketing strategies. It means Coca Cola can take further lead by introducing little innovation in its offerings and marketing. In this way, they can effortlessly differentiate their offerings from others. However, Coca Cola is facing intense competition from local and global players like Pepsi. It is one of the single biggest competitors of the company with a diverse range of products and services.
Market Analysis | Coca Cola Marketing
Non-alcoholic beverages companies are currently multiplying due to the increasing demand for these drinks in Asian and African regions. The consumption of these beverages is really high due to lifestyle, buying habits, and economic conditions. In fact, the beverage market is overcrowded with carbonated soft drinks, teas, coffees, and other drinks. Customers are very loyal to their favorite brands and hardly prefer any other brand.
Customer Analysis | Coca Cola Marketing
As we have mentioned earlier, Coca Cola is a global brand, targeting customers on both differentiated and undifferentiated factors. Generally, Coca Cola specifically targets a mass industry. Customers always expect high quality and affordable prices, and that’s what exactly Coca Cola is doing.
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