In this paper, we perform a comprehensive audit of Coca-Cola's marketing program and recommendations developed for future marketing plans. We provide recommendations for Coca-Cola's marketing efforts as well as product line enhancements, as Coca-Cola faces stiff competition and changing consumer tastes. These recommendations include:
· Pursuing a multi-pronged marketing strategy, including growth into geographic regions like Russia, China, and Turkey.
· Leverage the Company assets by brand extension into water-based, slightly sweetened refreshment drinks to meet more health-conscious consumers.
· Diversify offerings outside the non-alcoholic beverage market, leveraging the vast distribution network.
Coca-Cola was born in Atlanta, Georgia, on May 8, 1886 by Dr. John Stith Pemberton, a local pharmacist. Dr. Pemberton produced the syrup for Coca-Cola®, and carried a jug of the new product down the street to Jacobs' Pharmacy, where it was sampled, pronounced "excellent" and placed on sale for five cents a glass as a soda fountain drink. Carbonated water was teamed with the new syrup to produce a drink that was at once "Delicious and Refreshing," a theme that continues to echo today wherever Coca-Cola is enjoyed. During the first year, sales averaged a modest nine drinks per day.
Today, over 6 trillion servings of Coca-Cola have been enjoyed worldwide and Coca-Cola has over 400 brands.
Coca-Cola's Key Success Factors
Coca-Cola has several key success factors including:
· Financial measures with growth in both revenue and gross profit. Revenue for the period ended September 29, 2006 is $6.454 million (USD) ; compared to $6.037 million (USD) for the same period in 2005, representing a 6.9% increase for the same period. Gross profit in 2006 for the period ended September 29, 2006 is $4.189 million (USD) compared with $3.802 million (USD) for the same period in 2005 ; representing a 10% increase.
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