This reports gives internal and external audit of coca cola. And shows Coca-Cola's strengths weaknesses opportunities and threats. It also shows a marketing objective and strategy to increase market share by 3% within a 12-month period. And a tactical plan to achieve the market objective and strategy within the 12-month period.
The brands of The Coca Cola Company represent some of the most popular beverage brands in the world. Coca cola is one of the best selling soft drink product on the market. It is sold in hundreds of countries around the world. Recently coca cola had to evolve from the fizzy drinks to a more health conscious product as the lifestyles and cultures of the coca cola products have been changing. Coca cola realiezes that they have to produce what the customer want so they introducing more health conscious products. Marketing Audit of Coca Cola as a marketing consultant for Coca-Cola
The production distribution and use of many of Coca cola product are subject to various federal laws, such as the Food, Drug and Cosmetic Act, the Occupational Safety and Health Act ad the Americans with Disabilities. Economic factors
Market share have declined
Job cuts because of under-investments
Market capitalization was $128 billion which was almost three times over it main competitor. Market size
Introduction of product for the health conscious such as coca cola zero with no calories, minute maid fruit drink and propel energy drinks. Lifestyles of different countries and culture of coca cola Blak that is coffee flavoured version France market. SPICC
Suppliers coca-colas suppliers are very effective and ensure that there is availability of the resources needed for production. Intermediaries are the wholesales and retailer who distribute coca cola products such as groceries globally. Customers the product that coca cola is providing is what the customers want. Thus coca cola is changing from the fizzy drinks to healthy drinks as the lifestyles of the customers have changed. Competition Coca cola major competitor is Pepsi-cola and coca cola wants to ensure that they are the number one product so they are very competitive.
Porters Five forces analysis
Competitive rivalry among competitors
Advertising price and product differentiation between a close rival Pepsi-cola.
Threats of substitution
Alternative products on the market this is because there are a lot of competitors in the market.
Marketing mix 4P's
Place or distribution is that coca cola products are available globally. Promotion the coca cola brand is well advertised globally. Product is of generally a bench marked quality and standard that customers want.
System in which Coca-Cola used to promote products. Is advertising through media and billboards this is effective method. Strategic is the way in which coca cola was able to move from the fizzy drinks to a more health conscious products.
Strengths of Coca Cola
The product's image is laden with sentimentality, and this is an image many people have taken deeply to heart. The Coca-Cola image is displayed on T-shirts, hats, and collectible memorabilia. This extremely recognizable branding is one of Coca-Cola's greatest strengths. As the product is enjoyed more than 685 million times a day around the world Coca-Cola stands as a simple, yet powerful symbol of quality and enjoyment" (Allen, 1995). According to Bettman, et. al, (1998) Coca-Cola's bottling system is one of their greatest strengths. They conduct business on a global scale while at the same time maintain a local approach.
Weaknesses of coca cola:
Complacency as it has a long history as being one best selling product. Lack of innovation.
Unable to spot consumer trends early and do proper market...