The Coca Cola business
In the fast growing business world, there are many companies that are competing for the customers both nationally and internationally. As a result of this stiff competition, there is a lot of pressure that firms have to handle while expanding their businesses in the global market. Some of these pressures include local responsiveness and cost reduction pressures. A well-thought out strategy of Coca-Cola company demonstrates the effectiveness of operating globally while maintaining approach is accepted locally.
Coca-Cola is an international strong brand present in about 200 countries . It is well known and appreciated for quality and consistency. The design of Coca-Cola’s products is highly professional . It is one of the most popular images on the food market.
Sponsoring most recognized games like the NBA and advertising in major world games like Olympics and World Cup, Coca Cola creates higher awareness of the brand. So professional marketing is another advantage that makes Coca-Cola very competitive.
The number of major consumers of Coca Cola, the Hispanics , has been constantly inclreasing in the U.S. In 2006 with a population of 42million and a buying power of $ 1trillion in 2008 there were 11.6 Hispanic households in the U.S. . So, Coca-Cola’s potential consumers make national sales grow.
The greatest advantage is given by the strategy of global marketing while all the products are manufactured locally. Coca-Cola invests intensively in order to adjust its products to local tastes.
In the developed world, consumers lately are tending to limit consumption of carbonated soft drinks because of their association with obesity and because of becoming more health conscious. Consequently, Coca-Cola is getting started its production in many categories outside of traditional soft drinks. Their intent to participate in all of the beverage categories, like packaged water, tea, coffee, was announced in order to meet an increase of sales objective.
The biggest advantage was achieved when the global marketing approach was replaced with local marketing one. The differences in consumer demands are now main concern of the company. Numerous local offices opened around the world guarantee that the company participates in the life of each community. The value is provided to customers via quality customer service and various value creation programs. Working together with its bottling partners, the Coca-Cola system concentrates on growing the overall profits in order to provide high returns for all parties collaborated. The company highly estimates the importance of its associates, so, it ensures that only the most creative, motivated and talented people are hired around the world.
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