Read full version essay Coco-Cola Key Success Factors

Coco-Cola Key Success Factors

Print version essay is available for you! You can search Free Term Papers and College Essay Examples written by students!.
Join Essays24.com and get instant access to Coco-Cola Key Success Factors and over 30,000 other Papers and Essays

Category: Business

Autor: anton 19 July 2011

Words: 597 | Pages: 3

Introduction

The Coca-Cola Company is the world’s largest non-alcoholic beverage company; Coca-Cola is a dominating force in the beverage industry and sets a very high standard of competition. Operating in over 200 countries with over 50,000 employees and more than 800 production and distribution centers. . Research shows that its trademark is recognized by over 94% of the world’s population

1-What have been the key success factors for Coca-Cola?

There are many factors contributing to Coca-Cola’s success, however, I believe that their key success factors are Marketing, Innovation, and Globalization.

в—ЏMarketing:

Coca-Cola is seen as one of the founding fathers of the modern day marketing model. They were among the pioneers of advertising techniques and styles used to capture an audience. They were also one of the first companies to offer a gimmick with their product, this being a mini yo-yo. It was around 1900 when Coca-Cola began presenting their signature drink as a delicious and refreshing formula. This slogan has been repeated for over the last 100 years selling Coke all over the world. Through its intense marketing campaigns, Coke has developed an image that is reflected in what we think of when we buy Coke and what we associate with drinking Coke. This image has been subconsciously installed in our brain by the advertising campaigns that show Coca-Cola associated with “good times.”

в—ЏInnovation:

Coca-Cola has been able to survive and grow in an ever-changing market because of its ability to systematically innovate and deliver new products. In the late 90s the company, typically showing earnings growth of 15-20% per year, turned in three straight years of falling profits. It was apparent that the market was changing and in order to keep up with these changes, Coca-Cola had to move from a single core product to a total beverage company. This was a major change because their past success was base on having one successful core product. Coca-Cola began to employ a strategy referred to as

“Play to win innovation.” The company began operating in a decentralized environment that was unfeasible in previous years. Now Coca-Cola offers nearly 400 different products in and is still dominating the beverage industry. This is made possible by the company’s ability to innovate and adapt to changing markets.

One of its recent innovations is the chilled Coca-Cola bottle:

New coke bottles keep the drink chilled!

Coca-cola is planning to design new coke bottles that keeps the inside drink chilled for few minutes! They will test in the U.K. next year. The new bottles are also said to require different vending machine technology to regulate their temperature. Generally once we uncap the coke bottle then the cooling will decrease but with this new idea maybe it will keep the drink cool until we drink full bottle

в—ЏGlobalization:

Today’s big business takes place on a global scale, and Coca-Cola is no exception. Technology is continually changing business, and these constant changes have been making it more feasible and profitable for businesses to expand their operations globally in order to serve all different types of diverse markets around the world. This global view is reflected in Coke’s recent “I’d like to teach the world to sing” commercial.

Over time, Coke realized that it would need a more local feel in each country so Cola uses local AD agencies to give its AD a local feeling. Also, Cola sells wide ranges of flavored sodas in different countries like the cool watermelon in China, the bitter herbal soda in Italy and the zingy soda in South Africa.

Read Full Essay