Research Question: Evaluating the factors for success of Coca Cola Co. as the number one beverage brand in the world.
Objectives:
- Evaluating the Marketing Strategy for Coca Cola Co.
- Studying Coca Cola The Brand
- Coca Cola operations in India
This report looks at global marketing strategy of Coca Cola and also the Global Brand Strategy of Coca Cola. Through SWOT analysis try to analyze strengths and weaknesses of Coca Cola Co.
Global Strategy of Coca Cola:
Consumers will have different experiences, given their personal references and location. The Coca-Cola Company is adjusting its approach so that it can tap into these differences and provide the appropriate marketing activities and beverages to connect with consumers.
Its "think local, act local" approach to marketing allowed adopting communications to fit local circumstances. Coca-Cola Company wants to provide consumers with beverages to fit their different life styles and life stages.
CEO Douglas Daft said "In the past Coke succeeded as it appealed to global commonalties. In the future there is a need to understand and appeal to local differences".
- Firstly he replaced practically all of Coca-Cola's senior management in Europe with local executives. By placing more responsibility and accountability in the hands of local managers who are closest to the local consumer.
- "Coca Cola flourishes when our people are allowed to use their insight to build the business in ways best suited to their local culture and business conditions". Efforts were made to give freedom to local managers to act according to the local conditions.
- Draft believed that it was essential to build the core of the business on the strength of the brand. Also it was important to relate to people.
- In Brussels, hostesses go to discos and hand out free Coke to teenagers having alcohol to demonstrate pleasure of a Coke break. This was possible by the insights of local marketing managers of Coke who knew that Belgians are party animals management in Atlanta would not know this. This is a good example of how the new localization was working.