1. How has the company changed over the years in order to survive a highly competitive marketplace? Coca-Cola is a billion dollar global operating organization. They’ve been around for over a 100 years and they currently operate in over 200 countries. This is not a simple task, but Coca-Cola has found ways to manage by taking the right risks and evolving over time. Coca-Cola has over time invested in their brand, their quality, the right marketing, the availability of their product and are continuously looking for ways of innovation. The latter is what perhaps might be the biggest reason they are still around.
This plays a very big role at Coca-Cola. This involves the shared values, principles, traditions and ways of doing things that influence the action of the organizational members. Innovation and risk taking is very typical (high) when looking at the organization culture of Coca-Cola.
Further Coca-Cola focuses on 5 difference makers. These are: Culture Coca-Cola has studied the culture very well and has incorporated passion points of the people, such as music, sports and entertainment into their campaigns. The biggest focus point for Coca-Cola now is the LOHAS culture, people who highly value lifestyles of health and sustainability. When learning new things about the culture Coca-Cola thinks of ways of associating themselves in creative, interesting and authentic ways. Coca-Cola is aware that changes occur very fast. They’ve manage to remain number 1 by staying on the edge of cultural relevancy.
Innovation Innovation also has an important role in Coca-Cola’s organization. To avoid becoming irrelevant, Coca-Cola has focused on innovation of their products, packaging, equipment and consumer engagement. Coca-Cola knows that with innovation comes risk taking. But Coca-Cola tries to learn from these mistakes and try to keep share this knowledge so that the same mistake is not made elsewhere. With their new network known as the Coca-Cola Digital Network, which is based on precision marketing, Coca-Cola wants to reach their consumers with precise marketing campaigns while making use of all digital platforms. This network allows them to deliver content anytime and anywhere in the world. They are able to offer their content on in-store television networks, grocery stores, self owned digital vendors, billboards and taxi tops. Ultimately their major focus is the mobile phone.
Engagement Reaching their customers, commercial partners and their consumers in new ways is also a focus of the Coca-Cola organization. The focus lies in refreshing their ways to reach the consumers with innovative and creative ideas.
Collaboration Coca-Cola also focuses on collaborating with all the people involved with the brand (stakeholders), such as the customers, suppliers, government, NGO’s, creative partners, shoppers and consumers. Social Media plays an important role in this. Coca-cola wants to use stakeholders who practice advocacy for the brand to their advantage. For instance by highlighting consumer created movies on Youtube or other expressions created by others. They foresee that the focus must shift from creating an impression to using the expressions that are being offered. Being present online will also help them defend their brand if people are giving the wrong expressions.
Profit This does not only include financial profit. Also collaborative profit which can bring value for all involved with Coca-Cola is included. This can be in forms of campaigns, where all stakeholders are engaged (their bottlers, suppliers and partners such as Youtube).
To summarize Coca-Cola’s survival you can say that Coca-Cola has been able to survive all this years because of rethinking and refreshing their business. This to be able to deliver Brand Love and Brand Value through culture, innovation, engagement, collaboration and profit.
2. Has the company’s management...
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