Principle Of Marketting
Principles of marketing
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Principles of marketing
The Coca-Cola Company
The Coca-cola company is a well-known brand operating around the globe successfully. It is a marketer, manufacturer and retailer and of non-alcoholic drinks and is distinguished for its soft drink, Coca-Cola. The company was established in 1892 with headquarter in Atlanta, GA. It is having around 300 bottling associates globally (Official Coca-Cola, 2019). The portfolio of the product of the Coca-Cola company comprises multiple numbers of non-alcoholic drinks such as sports drinks, energy drinks, soft drinks, and bottled water. For many strong reasons, it is the most prized and identifiable brand universally. The secret formula of Coca-cola was created in the U.S and is still used presently worldwide.
Among these portfolios of products Coca-cola is the most consumed and enjoyed in many different countries, especially in the United States. That is why the market share or cut of The Coca-Cola Company in the U.S from 2004 to 2017 amounted to approximately 42.%. There are many other companies operating in the United States soft drink industry. Pepsi Cola is considered being the fiercest rival of the Coca-cola company. Competitors in the soft drink manufacturing industry in the United States, such as the Pepsi-Cola market cut amounted to only around 9%. (Coca-Cola Company's U.S. market share, 2017 | Statistic, 2019). These statistics revealed how massively successful and consumed Coca-cola is in the United States. Coca-cola offers its customers multiple products. Some major products of the Coca-cola company are Coca-cola, coke zero sugar, coke life, and diet coke.Target market
The Coca Cola soft drink is by far the most popular beverage around the globe, especially in the United States. It is very popular in numerous diverse countries and cultures. Because of the gigantic demand for the beverage, and the tendency towards a healthier way of life the company has started to manufacture a variety of products. They have manufactured various beverages, and now they are capable of targeting a much larger marketplace.
Coca Cola Corporation attempts to please a whole line of a diverse population. The company manufactures and uses a variety of drinks to target dissimilar markets based on sexes, age groups, lifestyles, and ethnic groups, etc. For instance, a fruit juice named Disney hundred Acre Woods is prepared for young kids of ages ranging from 3 years to 10 years including in both sexes. Coca Cola has produced many tastes of this drink to please children as most the children have very resilient likes and dislikes.
Coca-cola is chiefly differentiated because of its robust taste in contrast to other soft or soda beverages such as Pepsi Cola. Product differentiation of Coca-cola is all about its branding tactics and fashioning images in people’s minds (Cola Market Strategic Brand Management, 2014), such as using favorite cartoons or Santa Claus in their branding tactics. Such use of competitive positioning strategy keeps Coca-cola one step forward of its rivals in the Non-alcoholic drinks marketplace.
A Cash cow
The most famous product of the Coca-cola company, "Coca-cola” is considered for obvious reasons as a “cash cow." Cash cows are the ones that are considered as the leaders in the market and produce more cash or profits that are used in the making. Cash cows are business products or units that have a considerable market cut but little market growth scenarios. Cash cow products are those that can ensure the funding of research and development, administrative costs, and recompense payments to stakeholders. Coca-cola is a cash cow because it is consumed worldwide and is enormously eminent, extremely profitable with massive market share and therefore, it has fewer chances to grow further.
Brand differentiation – Coca Cola and Pepsi - Cola Market Strategic Brand Management. (2014). Cola Market Strategic Brand Management. Retrieved 21 February 2019, from http://colamarket.over-blog.com/2014/11/brand-differentiation-coca-cola-and-pepsi.html
Coca-Cola Company's U.S. market share, 2017 | Statistic. (2019). Statista. Retrieved 21 February 2019, from https://www.statista.com/statistics/225388/us-market-share-of-the-coca-cola-company-since-2004/
Official Coca-Cola® (2019). US Website. Retrieved 21 February 2019, from https://us.coca-cola.com/
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