In the present day, the Coca-Cola Company may be defined as one of the biggest, fast-growing, and constantly developing international beverage companies in the world. The first Coca-Cola drink was created by Dr. John Stith Pemberton, a local pharmacist from Atlanta (“Our company,” n.d.). On May 8, 1886, He produced the well-known syrup “and carried a jug of the new product down the street to Jacobs’ Pharmacy, where it was sampled, pronounced “excellent” and placed on sale for five cents a glass as a soda fountain drink” (“The birth of a refreshing idea,” n.d., para. 1).
The name of the company was suggested by Frank M. Robinson, a bookkeeper and Dr. Pemberton’s partner, as he thought that “the two Cs would look well in advertising” (“The birth of a refreshing idea,” n.d., para. 2). Robinson was the creator of a world-famous trademark in its unique script, as well (“The birth of a refreshing idea,” n.d.). The first advertisement for Coca-Cola appeared as hand-painted oilcloth signs and newspaper ad in The Atlanta Journal (“The birth of a refreshing idea,” n.d.,). Meanwhile, the company has become a multinational corporation that aims to fulfill customers’ expectations and contribute to the general improvement of people’s lives across the globe.
As a consumer-centric company, Coca-Cola prioritizes consumers’ preferences and needs through its innumerable products. As a matter of fact, it currently offers a considerable amount of drinks of more than 500 brands that include sparkling soft drinks, water, organic and plant-based drinks, dairy products, fruit juices, coffees, and teas (“In our products,” n.d.). The most recognizable brands of the company are Coca-Cola, Sprite, Fanta, Dasani, Smartwater, Minute Maid, Georgia Coffee, Costa Coffee, Honest, Fuze Tea, Powerade, Simply, Ciel, Schweppes, Topo Chico, Appletiser, Aquarius, Gold Peak, AdeS, Fresca, Ayataka, Barq’s, and Peace Tea (“Brands,” n.d.).
In general, the company’s mission statement is “to craft the brands and choice of drinks that people love, to refresh them in body and spirit” (“Purpose and vision,” n.d., para. 1). In addition, its main strategy is defined as its products’ globalization along with local structures’ creation in order to support operation countries.
In general, the main competitors of The Coca-Cola Company are Pepsi, Mountain Dew, Dr. Pepper Snapple, Gatorade, Redbull, and Nestle as these companies offer multiple beverages and have similar objectives and brand awareness worldwide. Nevertheless, the largest market share and distribution network, customer loyalty, vast global presence, appropriate customer-oriented sustainability-oriented market strategies may be regarded as the main strengths of Coca-Cola (Abbasi, 2017).
At the same time, the company’s weaknesses, such as low product diversification, a lack of healthy beverages, and water management issues may be regarded as insignificant as Coca-Cola constantly works on its improvement. In turn, it should focus on product diversification, the development of the business or the improvement of its performance in developing countries with the consideration of climatic peculiarities, supply chain improvement, and the optimization of product lines as some items have not found public acceptance in the international market (Abbasi, 2017). In addition, the limitation of raw material sourcing and the presence of indirect competitors are the company’s main threats.
In response to modern trends, The Coca-Cola Company focuses on sustainability and contemporary health standards in order to stay commercially viable. In 2017, in accordance with the recommendations of the World Health Organization concerning the consumption of sugar, the company reduced its quantity in more than 500 beverages across the globe “adding to the 30 percent of more than 3,900 beverages that already fall into the low or no-sugar category” (“New business strategy to focus on choice, convenience, and the consumer,” 2017, para. 8).
In addition, supporting the requirement for sustainability that currently gain popularity worldwide, The Coca-Cola Company collects and recycles bottles and cans and aims to reduce its water consumption and carbon emissions. That is why an innovative product of the company that should be introduced in the future is low-sugar sparkling soft drinks in 100% paper bottles.
This product has numerous advantages that may support the company’s strength and leading position in the market. First of all, it may provide customer loyalty as a considerable number of people currently prioritize the sustainability of the business, environmental safety, and a healthy lifestyle. According to the company’s representatives who have already conducted extensive laboratory testing to ensure the appropriate quality of a paper bottle, the reaction of consumers is definitely considered, and Coca-Cola aims to find the most suitable and sustainable packaging solution for people to enjoy drinks in the right way for them and for the planet as well (“Coca-Cola unveils paper bottle prototype,” 2020).
Moreover, the production and recycling of paper bottles are more beneficial for the environment. In order to inform customers about a new product, the massive entertaining campaign will be launched on online platforms, on social networks, and through TV broadcasting. Paper packages will be produced in the countries of product sales under the company’s control. Concerning the design, the same logo and a red-and-white color theme will be used as it is highly recognizable by customers.
References
Abbasi, H. (2017). Marketing strategies of Coke: An overview. KAAV International Journal of Economics, Commerce & Business Management, 4(2), 194-199.
Brands. (n.d.). The Coca-Cola Company. Web.
Coca-Cola unveils paper bottle prototype. (2020). Web.
In our products. (n.d.). The Coca-Cola Company. Web.
New business strategy to focus on choice, convenience, and the consumer. (2017). Web.
Our company. (n.d.). The Coca-Cola Company. Web.
Purpose and vision. (n.d.). The Coca-Cola Company. Web.
The birth of a refreshing idea. (n.d.). The Coca-Cola Company. Web.