Therefore, this called for a change of strategies by Coca-Cola and their option was to introduce a new product that offered the same feature as their competitors. In this case, they had to conduct research in order to introduce new products to the market. After the investigation, they identified that Pepsi was offering a product that had a sweeter taste and this contributed to a growth in the preference resulting in increased market share. They conducted , taste test on the final formula and a blind test, whose results were sixty percent of the consumers choosing the new formula over the old one. In fact, fifty-two percent of the customers choose it over Pepsi, and this was an indication that new coke would assist in dealing with the problem of losing the market share to Pepsi.
Case Study Of Marketing Strategy Of Coca Cola
Coca Cola Marketing Strategy Essay - Words
With the presence in more than countries and the daily average servings to 1. Moreover, 3. The world knows and has tasted the coca cola products. In fact, out of the 55 billion servings of all kinds of beverages drunk each day other than water , 1. It all started years ago, in , when a Confederate colonel in the Civil War, John Pemberton, wanted to create his own version of coca wine cola with alcohol and cocaine and sent his nephew Lewis Newman to conduct a market research with the samples to a local pharmacy Jacobs pharmacy. The original idea of Coca wines was discovered by a Parisian chemist named Angelo Mariani. Hence, by the end of the year, Pemberton was ready with a unique recipe that was tailored to the customers taste.
Coca-Cola Goes Green: The Launch of Coke Life Marketing Strategy Analysis & Solution
The company started business operations in the year and from that time up to today, the number of products that are being produced have reached about four hundred. The coca cola company has spread its business operations all over the world and currently, it is operational in more than three hundred countries. The marketing strategy of this company has been one of the most admirable locally and internationally. This paper is going to analyse the marketing environment in the context of the coca cola company.
Hence, in order for the Coca Cola Company, to maintain its leverage in the industry its suggested the company strives to meet the needs of its consumers, by producing less…. Finally, I believe Coca Cola created different types of their beverages to increase their profitability. By looking at the market at a Sales Orientated perspective, by having more types of goods, theoretically, it would result in more types of consumers and ultimately, more sales which leads to more profit. In a tough market with many competitors, Coca Cola has to reach out to different types of consumers and in order to do that, Coca Cola must create different types of beverages. This consumer is more than willing to consume all those sugars and calories as long as the flavor is as rich as it can be.