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Market Strategies of Coca- Cola - Assignment

   

Added on  2020-12-18

7 Pages2010 Words357 Views
Business strategies of coca-cola company

Table of ContentsINTRODUCTION...........................................................................................................................1Business Strategies of Coca-Cola Company..............................................................................1CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5

INTRODUCTIONBusiness strategy is an idea and method of achieving goals, increasing profits and productivity of the company. Coca-Cola is carbonated soft drinks that is manufactured by the Coca-Cola Company. These products are sold in more than 200 countries. This study will include and show about the market strategies of Coca- Cola Company (Armstrong and et.al. 2015). It uses the most efficient past and current strategies that make it successful and able to meet all the determined goals and increase sales and profits of the company. Business Strategies of Coca-Cola CompanyBusiness strategy is defined as a plan that every type of company use in order to reach its determined goals and objectives. Business strategy is an important tool of the company that supports in setting goals for long-term growth and development.(Jones and Comfort, 2018)Past strategy There are several strategies which Coca-Cola used that have made it recognisable in the competitive market. Market tested formula : Atlanta passed some laws that include prohibition law which forced beverage manufacturers to manufacture and produce non-alcoholic drinks in 1886. By theend of the year Pemberton, inventor of the company had a recipe that was unique and accordingto tastes of the customers. He made some adjustments and changes but the recipe has not changed. This decision of not changing the recipe supported the company's scale (Bragg and et.al. 2018). Unique Logo: Pemberton decided to make it Logo in the Spenserian script in order to make it differ or differentiate from its competitors. In 1923, it had standardised its Logo. This strategy also made it successful and more than 100 years to become imprinted in the minds of people.Maintained high standard: The Company focuses on maintaining the higher standard of excellence. It had used the strategy as it decided to serve its drink up to 36 degree Fahrenheit and told all the retailers and salesmen that it should not be served above 40 degrees. This standard and strategy was an example in order to establish its products as a premium product that can help them more attention of its customers than its competitors.Ansoff model: It is also a past strategy which Coca-Coal uses as it provides the framework that helped senior manager and executive for future growth. This model has main strategies like market penetration, market development, product development and diversification. In market penetration the company had tried to use its existing products in existing markets.In market development strategy the company tried to expand its business on the basis of segmentation like geographic and countries. In product development strategy the company tried top create and created new products and services in order to achieve growth. In diversification strategy the firm tried to grow its market shares by offering new [products into new markets (Coca-Cola n Ansoff matrix strategy, 2015).Franchise model: Coca-Cola adopted a franchise model with bottlers that helped their brand to truly take off. Now there are about 250 bottlers around the world. This model and pattern supported in sales of its new products, new equipment and new communications.1

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