Why was Coca-Cola so successful?
Know the power of your brand
One of the reasons why the Coca Cola brand is so successful is that it has focused on building its brand, instead of its product. Rather than telling you how delicious co*ke is, the Coca Cola brand invests in creating an idea of what life with co*ke is like.
Coca-Cola has been consistently ranked as the top soft drink brand worldwide, with a global brand value of over 74 billion U.S. dollars. Other soft drink brands manufactured and sold by the Coca-Cola Company include Diet co*ke, Sprite, and Fanta.
Coca-Cola uniquely designs its marketing strategy, which gives a boost and gives broad global recognition. Like many other companies, Coca-Cola bases its marketing strategy on 4Ps: product, promotion, price, and place. Coca-cola follows the marketing mix strategy.
Through its competitive positioning strategy, Coca-Cola stays ahead of its competitors by offering an extensive product line, providing superior customer service, and expanding its advertising efforts. Coca-Cola dedicates a significant portion of its net revenue to advertising, contributing to its high market share.
Primarily, the company has huge investments in capital and human resources that contribute greatly to its internationalization. In the process, Coca-Cola has enhanced global communication, social, and infrastructural development, especially in developing countries.
Coca-Cola uses social media to attract customers, and social media makes the company understand the customers and market as well. Like other companies, Coca-Cola like to join the online challenges. In 2014, “The Ice Bucket Challenge” happened almost half of that year.
co*ke is sold in more than 200 countries and territories worldwide. This diverse representation helps the company in steady growth. co*ke also has one of the world's largest distribution networks and derives more than 40% of sales from developing and emerging economy with the growing middle class.
Experience. A significant part of Coca-Cola's success is its emphasis on brand over product. co*ke doesn't sell a soft drink in a bottle; it sells “happiness” in a bottle.
We began building our global network in the 1920s. Our global growth expanded during World War II when Coca-Cola President Robert Woodruff believed that every American service man and woman should have a co*ke at their disposal, no matter where they were or the cost to the company.
All soft drink companies have to 7 think about the pressures; that from rival sellers within the industry, new entrants to the industry, substitute products, suppliers, and buyers. The competitive pressure from rival sellers is the greatest competition that Coca-Cola faces in the soft drink industry.
What are the strengths of Coca Cola Company?
Coca-Cola Strengths – Internal Strategic Factors
Strong brand identity – Coca-Cola is a highly popular brand with a unique brand identity. Its soft drinks are the most-selling drinks in history. Extended global reach – It is sold in more than 200 countries with 1.9 billion servings per day of Company products.
Brand over product
“One of the most successful ways in which Coca-Cola has marketed itself is that it puts the focus on the brand rather than its product. co*ke is described as something that brings family and friends together, encourages sharing and brings happiness, rather than just a soda.”
Coca Cola is a leading brand with several sources of competitive advantage. Its market leading position is owing to its focus on product quality, marketing, research and innovation as well as several more factors. Being a leading soda brand, its only main rival is Pepsi.
The company started expanding in its early years and by 1900 it had spread to Asia and Europe. Throughout World War II American troops were provided with Coca Cola and at that time it was manufactured in over 60 factories around the world. It became a global symbol of Americanism.
Blind taste tests suggested that consumers preferred the sweeter taste of the competing product Pepsi, and so the Coca-Cola recipe was reformulated. The American public reacted negatively, and New co*ke was considered a major failure.
Editor's Note: Earlier today, Coca-Cola introduced “Taste the Feeling”, our first new global marketing campaign in seven years. We invited Ted Ryan, director of Heritage Communications at The Coca-Cola Company, to reflect on the taglines and creative campaigns that have delighted consumers for more than a century.
8, 2021 – The Coca-Cola Company today named WPP as Global Marketing Network Partner to play a key role in executing a new marketing model that is built to drive long-term growth for the entire company's portfolio of brands across more than 200 countries and territories.
