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The Coca-Cola Company is a beverage manufacturer, retailer, and marketer of syrups and non-alcoholic beverage concentrates. A pharmacist known as John Pemberton, in 1886, invented its leading product, Coca-Cola. The Coca-Cola brand and formula and was then bought by Asa Candler. Its headquarters is in Atlanta, Georgia and serves in more than two hundred countries (Mark, 2000, 25). There is a wide variety of brands offered by the company globally, for example, Fanta, Sprite, Diet coke, RC cola, Minute maid and many more.
The marketing mix
The company's products include beverage concentrates and syrups. The main product of Coca-Cola is the carbonated soft drink. It was initially in glass bottles, however, a range of products have come up, for example, cans, plastic bottles, and family packs. The company has made some changes regarding this product in order to keep up with the market. Moreover, other varieties such as lime, cherry, vanilla, and variations of diet cola have been introduced.
In total, there are over three hundred brands all over the world. The main ones include Sprite, Coke, Fruit Juice, Lift, Frutopia 100%, and PowerAde. It Packages its products in plastic bottles of different sizes. It has a well-known trademark, successful, and with a good reputation.
Coca-Cola Company puts to use marketing strategies that differentiates its line of products from those of its competitors. The prices of the company's products vary depending on the brand and size. For example, Fanta, Coke, Sprite, and Lift soft drinks goes for about -$2.57,$1.35, $2.10, depending on the size. These products are usually sold in various stores lie retail stores, petrol stations, and convenient stores. However, convenient stores and petrol stations sell its products at a fixed price. Other retail outlets use pricing methods and strategies when selling the products.
For competition, Coca-Cola products are usually below, equal or above to the prices of its competitor. For example, in Easter, 2004, Coca-Cola soft drinks 2L was at $1.68, while Pepsi soft drinks 2L went for $1.87. The Coca-Cola products pricing are set at about the same level as the competitors, for example, for a pack of Coca-Cola soft drinks, 375mL x 18 cans, its price is at $9.98, and not $10.00.This makes it to be perceived as cheap.
The company has positioned itself as the preferred and premium mass-market beverage; it is at the top in the carbonated soft drinks market. It has an enormous advertising, as well as, sponsorship it undertakes, for example, the Olympics and World Cup soccer.
The brand position is because of its marketing and communication strategies, which focuses on its own brand, as well as, those of its competitors. The Coca-Cola brand has specific characteristics that support the premium brand, for example the sound that indicates a refreshing drink. Its position is that which is proposed and supported by itself, as a company.
Its brand personality reflects the positioning of Coca-Cola as a brand. Many individuals see 'Coca-Cola' as being part of their daily lives (Sheila 2008, 52). This is what leads to loyalty between the consumers and the company, which makes the purchasing decision easy.
The company has been involved in events such as Coca Cola's Form and Fusion Design Awards, in addition to sporting events a brand manager. This strategy makes sure that its product image relevant to the target consumers. The promotional mix of Coca-Cola has always included public relations, advertising, sales promotion, and direct selling elements (Sheila 2008, 52).
Room for improvement
The Coca-Cola Company has a room for improvement. With the current progress and advancement in technology dealing with soft drink raw material, manufacturing, production, logistics, information and communication technology, the Company has an opportunity to develop more products and be ahead of its competitors. The fact that new soft drink ingredients are available to the company means Coca-Cola can introduce new range of its products to its consumers; old and new. For example, with the latest information technology put to use, the company has attracted a new generation of soft drink consumers that is with the latest song downloading features (Sheila 2008, 52). The company's website has enabled consumers to keep in touch with the latest promotions, progress, and offers.