Marketing Strategies for Coca-Cola Term Paper

Pages: 8 (2245 words)  ·  Bibliography Sources: 1+  ·  Level: College Senior  ·  Topic: Business - Advertising  ·  Buy This Paper

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[. . .] This response was due to the increase in competition due to the fact that consumers were often reaching for water to quench their thirst. As well as the water market, the juice market has also gained consumers who are health conscious. Coca-Cola responded by focusing on these consumer health needs by removing artificial colors from some beverage lines, as well as introducing Minute Maid orange juice that is fortified with calcium and vitamin D ("New additions and reformulations," Beverage Industry, 2003).

However, the health concerns regarding sweet carbonated beverages have not taken to severe a toll on the sales of coke. Rogers (2003) reports that over one-third of British consumers drink cola at least once per week, while one in ten consumers drink cola daily. This reflects findings of Britvic's 'Soft Drinks Category Report', which approximated that the cola market in the UK experienced 5% growth in 2002 (Rogers, 2003). Non-carbonated beverages, such as water and juices, experienced an 11% growth rate in this same period, which further echoes the need for Coca-Cola to extend their brand into these markets.

Coca-Cola recognized a consumer need in poorer and less developed countries for a beverage that provides nutrients that may be absent from the local diet (Bruss, 2001). Coca-Cola responded to this need by developing "a product that could supplement a diet insufficient in some nutrients" (Bruss, 2001). Specifically, Coca-Cola aimed to create a product that would help fight anemia, blindness, and other conditions, which would be marketed under the name Vitango (Bruss, 2001). These non-mainstream markets present both financial and social opportunities for Coca-Cola, which relate to all four behavioural components involved in consumer choices.

Coca-Cola must remain aware of current social, political and environmental issues that may affect profits. In response to possible environmental concerns of consumers, Coca-Cola announced that it is utilizing at least 10% recycled content in 75% of its polyethylene terephthalate bottles, which places the corporation ahead of its goal, and plan to increase the level to 25% within the next few years ("Cola war intrigue," Waste News, 2001). Initiatives such as this appeal to the perception and attitude behavioural components of consumer decisions, which could increasingly draw consumers toward the Coca-Cola brand.

New and innovative marketing strategies are necessary in order to ensure continued brand visibility and brand awareness. The attitude behavioural component to consumer decisions was appealed to through a marketing strategy that aimed to associated Coca-Cola with trendy New York City (Kramer, 2001). Visibility was focused on throughout the city, with Coca-Cola including ploys to target teens, which included sponsoring basketball clinics and issuing V.I.P. discount cards at local sports, music, and clothing stores (Kramer, 2001). New York city is an optimal location for Coca-Cola to implement a marketing strategy because of its diversity, with so many "people, ethnic groups, and media outlets" (Kramer, 2001). Also, the world often looks to New York City for cutting edge trends.

The success of Coca-Cola and other American brands in the international marketplace has fuelled some resentment and backlash against the corporations (Quelch, 2003). In response, Coca-Cola decided to listen more attentively to the needs of local business partners and adapted product attributes and advertisements to suit local preferences. This initiative appealed to the culture behavior component of consumer decisions. Coca-Cola also increasingly acquired local brands in order to keep an adequate portion of the international soft drink market share. The corporation has also adopted local causes, sports teams, cultural events and charity events in order to maintain brand visibility and awareness in international markets (Siegel, 2003).

Overall, Coca-Cola has effectively adapted its marketing strategies in order to meet the diverse and changing consumer needs represented in the international marketplace. Tactics such as brand extension have proved to be effective in keeping up with a consumer market that demands variety. By continuing to focus on the different behavioural components and their relationships with each other, Coca-Cola will continue to experience financial success.

References

Bruss, J. "Reaching the world." Beverage Industry 92.12 (2001): 28.

Bruss, J. "SCC (single can of cola) seeking perfect consumer." Beverage Industry 92.4 (2001): 46.

Keenan, F. " Friendly spies on the net." Business Week 3740 (2001): 26-29.

Kramer, L. "Beverage makers flood city with ads to give brands fizz." Crain's New York Business 17.20 (2001): 4-6.

No Author Given "Cola war intrigue." Waste News 7.14 (2001): 8.

No Author Given "Growth in liquid assets." Beverage Industry 94.5 (2003): 46.

No Author Given "New additions and reformulations."… [END OF PREVIEW]

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Marketing Strategies for Coca-Cola.  (2003, November 28).  Retrieved February 22, 2019, from https://www.essaytown.com/subjects/paper/marketing-strategies-coca-cola/2934182

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"Marketing Strategies for Coca-Cola."  Essaytown.com.  November 28, 2003.  Accessed February 22, 2019.
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