It can be concluded an inverse relationship between the price of one complement, the fast food products in this case, and the demand of the other complementary goods, Coca-Cola here. 2.4 Expectations of future price changes: If the buyers got convinced of increasing Coca-Cola price in the next few months, then there will be increase in the demand today. Demand curve for Coca-Cola will shift rightward. 2.5 Time: Coca- Cola demand and revenue increase during summer and special events. 2.6 Tastes and customer preferences: Are important determinants and the more the product is preferred, this will shift the demand curve to the right.
All over the world, people are extremely loyal to Coca Cola because of its quality and taste. Customers will continually purchase these products, and will probably do so for a very long time. For example, if parents were avid Coca Cola drinkers, this will be passed down do their children as they grow loyal to the company. With Coca Cola’s ability to sell their product all over the world, customers will continue to buy Coca
Coca-Cola has more than 300 bottling partners. These partners range from small family owned operations to publicly traded businesses. In order to work cohesively and meet the need of all their customers, Coca-Cola has implemented the Coca-Cola System in which they work together with their partners and develop strategies to benefit the full ecosystem. The benefits from the cooperation is a well-balanced combination of skills and creating diversity and establishing greater capabilities within the
In terms of Coca-Cola Company also some macro environmental factors like demographics, economic, natural, technological, social and political factors can bring some impact in the market of the company. So, every marketer should find out these factors and should bring some changes to their marketing strategies in order to rule in the market and to sustain their business organization. Since the Coca-Cola Company has always focused on adding value to its product, it is standing at the top position in the market. There are very few competitors who can compete Coca-Cola on that
HISTORY & BACKGROUND OF COCA COLA The Coca Cola company is known as one of the world’s largest carbonated soft drinks company that began before World War II. It is an American-based company found in 1886 by an Atlanta pharmacist. Dr. John S. Pemberton created the formula of French Wine Coca, which is known as Coca Cola now and introduced the carbonated soft drink as a patent medicine at first. The beverage became more noticeable when Frank M. Robison, Dr. Pemberton’s partner changed the product name and created the famous script logo, which he believed that will attract customer in advertising.The marketing phenomenon grew even bigger when the small company was bought over by Asa Griggs Candler prior of the founder’s death in 1888. Candler 's decision was what made the Coca Cola Company so successful today due to his interest and aggressiveness in marketing this product.
In fact, in the first decades after its creation, Coca Cola focused on both developing new kind of products and accessing new markets around the world. However, as the company has recently expanded its activities to 200 countries, it started focusing mostly on product development in order to better respond to changes in customers’ needs and tastes. One of the factors that resulted in this product development strategy is the fact that more and more health-conscious people are choosing healthy and low-calories beverages, which has forced Coca Cola to diversify its products (Coca Cola, n.d.). As a result, the company created Diet Coke in 1982 - which has been the world’s top diet soda since 1986 - and Coca Cola Zero in 2005. Other low-calories alternatives were created using Truvia as a sweetener instead of sugar, such as Coca Cola life or Sprite Green.
Marketing mix plays an important role for the success for any company or an organization. The company or an organization has the vast amount of consumers that are various from different locations around the world. Furthermore the company has easily altered the four mechanisms to cater to fulfill the needs of the consumers of coke and make the profit to get success in the market. Certain strategies are set and campaigns are planned so that the promotion is done which help the company to easily deliver their messages towards the customers to get the success in the market. The campaign was conducted and it shows the success was massive and through this it increases the consumption of Coca-Cola.
Different salesperson has different outlet to visit. They always go to each outlet once a week. They update owners of outlet new information from the company and they explain things face to face. Besides that, they also look for new customers by going to their stores and ask them for short presentation of the Coke’s soft drinks. The company spends a lot of money on printing banners and hangs them in front of each outlet.
By means of Coco cola got more acknowledgment, they set up more and bottling deliveries, mostly worldwide. The brand of Coco Cola blow-out the world wide via market development as a growth strategy. Coco cola companies has been purchased by globally in tallying nearly over 500 brands beneath the name at present. Rising in coco cola market share like this is the growth scheme of market penetration. Diversification is a growth scheme where the business attempts to enter a open market with a new merchandise good.
Known in the industry as the contour bottle, it was created in 1915 so that it would be unique Starting with the US, Coca-Cola has had a great deal of influence with its advertisement, its only goal being to make everyone in the world drink their preferred drink. It was and still is promoted in many movies and by many artists such as George Michael, The Beatles, Whitney Huston, etc. With all the good publicity that Coca-Cola has had, it has also endured a lot of criticism. It allegedly has adverse health effects, it was massively marketed towards children, it was involved with slave labor and alleged high levels of pesticide in the product. Also it was also banned for several years in some countries such as Iraq, Bolivia, Burma and North Korea.