BUS336: Marketing Strategy
September 23, 2013
Coca-Cola is one of the world’s biggest and most well-known beverage brands. During its heydays when the company was led by CEO Goizueta, Coca-Cola’s stock was on a steady rise. As late as the 1990s, Coca-Cola Co. was one of the most respected companies in America, a master of brand-building and management in the dawning global era (Carvens & Piercy, 2009). Over the last couple of years, however, Coca-Cola’s stocks have been falling and profits have been decreasing from quarter to quarter.
The new age brings a challenge to Coca-Cola to find a way to reinvent and rebrand itself. With Mary Minnick as the new head of marketing, Coca-Cola is creating a new and fresh image through marketing and product development efforts. In this paper, I will describe and evaluate Coca-Cola’s marketing and innovation strategy transformation designed to position the company on the cutting edge of consumer trends, and developing healthy beverages, examine the underlying logic of Minnick’s emphasis on understanding why people consume beverages, discuss the underlying local of the non-carb drinks strategy, and compare and contrast the performance of Coca-Cola and Pepsi.
To Minnick, growth means more than simply boosting sales of Coca-Cola Classic. And innovation involves more than repackaging existing beverages in slightly different flavors (Carvens & Piercy, 2009). As the head of marketing at Coca-Cola, Minnick is implementing a new marketing and innovation strategy that will help transform the company’s position. Although Coca-Cola is one of the world’s biggest brands, it wasn’t moving forward in a positive direction. In fact, the company’s sales and market share growth was slowly declining. Coca-Cola, as a company, was still stuck back in their glory days, the 80’s and 90’s, where carbonated drinks dominated the beverage market. Since
References: Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). Boston: McGraw-Hill "Harvard School of Public Health » The Nutrition Source » Time to Focus on Healthier Drinks." Harvard School of Public Health. N.p., n.d. Web. 24 Sept. 2013.