Global Vision and Marketing Tactics
Coca-Cola has proved itself to be among the top competitors in the global marketplace today. Not only has it been around for over 125 years it has thrived through economic downturns like the one we are witnessing in this past decade. Coke has developed a marketing plan which is called “70/20/10. [They] invest 70% of resources in existing products, 20% in innovations related to existing products, and 10% in pure innovations.”, says Joe Tripodi, Coca-Cola’s Executive Vice President and Chief Marketing and Commercial Officer. Some new innovations they have developed include a new “freestyle dispensing machine” which allow you to choose from over 125 different drinks that are mixed to your. Coke has seen their numbers rising in the past few years, “in the past five years [Coca-cola’s stock] grew nearly 50%”. Coca-cola operates in over 200 countries, more than any other company in the world. They use an 80/20 business model for their global branches, which means 80% of the companies protocols and tactics come from the base of the company and the other 20% is adapted from the surrounding areas. The main target market for Coca-cola is college kids and the youth, for the reason that they are the people whom spend most of their money on drinks and food. Coke appeals to this target market by staying up to date with adapting technologies and things such as the freestyle dispenser which I mentioned before. “For the 12th year in a row Coca-Cola topped the list of Interbrand’s most valuable brands,” says Forbes Magazine. Coke’s presence among the national scene will not be forgone and with Muhtar Kent’s (CEO of Coca-Cola) 2020 Vision Plan, which expects their revenues to 200 Billion dollars a year, it does not seem to be doing anything but broadening its horizons.
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