Coca Cola has a wide range of products which follow a specific strategy based on delivery channel and product. Their offerings span a wide range of beverages including: Disdain water, Minute Maid Juices, Powered sport drinks, Vitamin Water, and the classic Coke and Sprite soft drinks Just to name a few. According to the Coca Cola website there are 3500+ products available worldwide. L For purpose of this exercise I will focus on the Classic soft drinks Including Coke and Sprite etc.
Product Coca Colas soft drink Coke Is known worldwide and one of the most recognized products in the world. The product is not just any soft drink. There is a core benefit provided when consumers purchase Coke and that is the universal familiarity of the product I. E. The Coca Cola brand. You know when you open a bottle what it will taste like and that the Coke formula will be in the bottle or can. Coca Cola was ranked by Interbrain as the World’s most Valuable Brand with a 2012 value of $77. 8 billion. 2 Price
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The price of obtaining a bottle, can, or glass of Coca Cola varies depending on where and when you are buying the product. The overall sacrifice a consumer must make is mostly monetary as Coca Cola’s distribution channels make obtaining their product very easy. I would be surprised to find consumers who would have trouble accessing one of Coca Cola’s many distribution channels. Place There are many places that consumers can purchase Coca Cola. Coca Cola seems to saturate the market with distribution of their product wherever they decide to operate.
They sell their product In supermarkets, convenience stores, gas stations, restaurants, stadiums, sporting arena’s and even vending machines all over the world. Coca Cola has over 23 million retail customer outlets worldwide! 3 Promotion It is amazing how well recognized the Coca Cola brand is well known and a great deal of credit for that goes to their advertising. The promotion phase of Coca Cola’s marketing mix is by far the greatest accomplishment of the company. Their advertising and public relations are the best In the business.
The Coca-Cola inundation (the company’s primary international philanthropic arm) gave a total of $273 million between 2002 and 2010. 4 The amount of goodwill established through the foundation is a wonderful way to promote the brand. Recommendation Based on my observations above, I would recommend Coca Cola to continue their Promotion activities in their marketing mix and by doing so increase the value of the brand. Coca Cola’s success Is due In large part because of their branding. The soft drink Industry Is extremely competitive and the branding Is really what sets Coca
Cola apart from the rest. In a recent Forbes article exploring why brand building is important the following makes a strong point in why Coca Cola should continue building their brand: “Brands are psychology and science brought together as a promise mark as opposed to a trademark. Products have life cycles. Brands outlive products. Brands convey a uniform quality, credibility and experience. Brands are brand. By investing in their brand they will add more value to their company as a whole.