Introduction
Marketing remains an evidence-based strategy for sensitizing and delivering finished goods to the targeted customers. Successful companies implement the best approaches depending on the nature of the products and the expectations of the intended buyers. This paper gives a detailed analysis of how the Coca-Cola Company engages in marketing to promote the Coca-Cola product and increase sales.
Company Background
The Coca-Cola Company is one of the leading producers and marketers of carbonated drinks. It has been in operation since 1892 and it employs around 62,000 people across the globe (Kanesan et al, p. 77). In 2018, Coca-Cola’s net income totaled 6.4 billion US dollars (Ryan). It serves almost every country by collaborating with bottlers and logistics companies (Kanesan et al, p. 78). Some of its key products include Coke or Coca-Cola, Dasani, Sprite, Diet Coke, and Fanta. This organization’s model has made it a leading competitor in the carbonated drinks industry.
Specific Product
Although Coca-Cola has a wide range of products designed depending on the unique demands of the targeted customers, Coca-Cola, also known as Coke, remains outstanding since it is available in all parts of the world. This discussion examines how the company’s marketing model has continued to deliver positive outcomes (Ryan). The organization considers the same strategy for its other products to increase the level of sales.
Message
The messages companies use for their products will dictate the percentage of profits recorded. The Coca-Cola Company has presently delivered this recognizable and informative slogan to different customers for the selected product: “Things go better with Coca-Cola” (Ryan). This message is available to individuals in different markets across the globe, including Australia, Africa, Asia, Latin America, and Europe. The approach is making it possible for the organization to record positive results.
Advertising Strategy
The successful performance of this company’s Coca-Cola product is founded on the effectiveness of the advertising strategy. In different companies, the organization creates eye-catching and inspirational adverts that are understandable and appropriate for all possible buyers. Such ads are delivered to the targeted audience through the use of television channels and the company’s official website. Social media fun pages have become essential for informing more people about the product (Ryan). Celebrities, sporting events, and sponsorship programs support this advertising strategy to deliver positive results. Bottles and cans are also designed in such a way that they deliver the intended information to the targeted customers. Radio stations have remained relevant in the developing regions to inform more people about this product.
Sales Promotion Strategy
Currently, the Coca-Cola Company is relying on a complex promotional strategy to ensure that the marketing process remains successful. It has been engaging in point-of-sale displays whereby potential buyers receive the main message and consider the decision to purchase the product. The website offers customer service initiatives and programs that encourage more people to be involved (Elmore, p. 45). Due to the current economic times, Coca-Cola has considered the power of discounts to maximize its sales. Such programs have the potential to increase profits and make this organization more sustainable.
Personal Selling Strategy
The nature of the selected product dictates the applicability or effectiveness of the personal selling strategy. At Coca-Cola, the retailer at the end of the supply chain is the one required to provide personalized support. For instance, a customer who needs a cold drink will have it because of the established refrigeration strategy (KayabaĹź et al, p. 355). The company provides tables and chairs branded with unique colors to improve the marketing process. This personal selling strategy explains why this company is currently recording positive results. Coca-Cola considers appropriate pricing strategies depending on the income levels of the majority of citizens in a specific country or region (Allen, p. 61). Such a strategy is a leading contributor and determinant of its current profitability.
Public Relations
The Coca-Cola Company has been taking the issue of public relations (PR) seriously to understand the challenges different customers encounter in their respective regions when trying to purchase its products. The outstanding message available to stakeholders is that this company puts the needs of its customers and their surrounding environments first (Kanesan et al, p. 78). It informs them about the established business model and how it is designed to address emerging challenges and establish beneficial mutual relationships. Such partners are also required to present new guidelines or ideas for improving operational efficiency.
To record positive outcomes and meet the demands of such individuals, this company uses social media platforms since they have become common among different members of the global community. Some of the identified ones include Facebook, Twitter, and Instagram. The Internet supports communication between this corporation and the targeted customers (Elmore, p. 68). Potential buyers can rely on its website to launch or present their complaints or understand the measures Coca-Cola implements to transform their experiences. These resources improve the level of interaction with the targeted consumers while at the same time maximizing its performance in different parts of the world.
Summary
The use of an effective marketing mix is currently making it possible for the Coca-Cola Company to attract more customers and encourage them to purchase its Coca-Cola product. The leaders have managed to combine quality, price, promotion, and personal selling in such a way that they resonate with the expectations of the target population (Kayabaş et al, p. 357). The organization has crafted an ingenious and informative message that is guided by the needs and thoughts of the potential buyers. Different promotional approaches make it possible for more individuals and regions to be aware of this product (Kanesan et al, p. 78). It engages in public relations to ensure that all potential communities and consumers have their challenges identified and resolves. It relies on the power of different Internet-based platforms to transform the marketing process and encourage more people to be involved in the process. While focusing on the Coca-Cola product, customers can learn more about the other beverages that this organization markets in different regions (Çelik 27). Consequently, the company has recorded increased profits while retaining its position as the leader in the carbonated drinks industry.
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Conclusion
The above discussion has identified Coca-Cola as a superior product that the Coca-Cola Company markets using a powerful mix. The inclusion of the major attributes of an effective strategy has delivered positive results, including a powerful PR, message, promotional approaches, personal selling, and focus on the changing demands of the buyers. The leaders at this company should, therefore, continue to pursue the same strategy to make Coca-Cola more profitable and reduce the threat of rivalry in the industry.
Works Cited
- Allen, Frederick. Secret Formula: The Inside Story of how Coca-Cola Became the Best-Known Brand in the world. Open Road Media, 2015.
- Çelik, Umut. International Marketing of Coca Cola Company: The Essence and Objectives of International Marketing. GRIN Verlag, 2017.
- Elmore, Bartow J. Citizen Coke: The Making of Coca-Cola Capitalism. W. W. Norton, 2015.
- Kanesan, Shanthiny, et al. “Identifying Market Segments and Targets for Marketing Strategy Plan of Coca-Cola Company in Malaysia.” International Journal of Business and Management Invention, vol. 7, no. 4, 2018, pp. 77-80.
- Kayabaş, Tugba D., et al. “Examining Coca-Cola and Pepsi Brands Under the Basis of Globalisation and Multinational Companies.” International Journal of Academic Research in Business and Social Sciences, vol. 7, no. 12, 2017, pp. 351-358.
- Ryan, Ted. “Coca-Cola Slogans through the Years.” Coca-Cola, 2019.