How Environmental Factors Affect Coca-Cola's Global and Domestic Marketing Decisions Essay Example
Environmental Factors Paper
For this final individual paper, I will use The Coca-Cola Company as my organization to identify the environmental factors that affect this company's global and domestic marketing decisions. Addressed within this paper will be the high-level of domestic and global environmental factors that may have an impact on Coca-Cola's marketing decisions and the impact of technology on the company's marketing decisions as well. I will conclude this paper by analyzing the importance of social responsibility and ethics as related to Coca-Cola's marketing strategies.
When one visits the home page of The Coca-Cola Company, he or she is greeted by the time of day and the slogan "global refreshment" (Coca-Cola, 2007). This is a globally marketed company that has found success all over the world and by having the ability to find the right balance between worldwide standardization and domestic adaptation has made Coke the number one brand in the industry (Armstrong, 2005). Popularity does not mean instant success in the international market though. Companies must completely understand the international marketing environment before deciding to operate on a global basis (Armstrong, 2005). Companies today face a bigger challenge with this understanding, as new opportunities and problems have arisen over the past two decades, due to the massive changes in the international marketing environment (Armstrong, 2005).
Many domestic and global environmental factors are involved that have an impact, positive or negative, on a company's marketing decisions. These high-level factors include understanding the international trade system and having knowledge of the economic, cultural and political-legal environments of the areas in which the company desires future growth (Armstrong, 2005). Coca-Cola expanded globally, within only seven short years of the company's birth (Armstrong, 2005). Imagine where this company would be today had they not "done their homework" in
For this final individual paper, I will use The Coca-Cola Company as my organization to identify the environmental factors that affect this company's global and domestic marketing decisions. Addressed within this paper will be the high-level of domestic and global environmental factors that may have an impact on Coca-Cola's marketing decisions and the impact of technology on the company's marketing decisions as well. I will conclude this paper by analyzing the importance of social responsibility and ethics as related to Coca-Cola's marketing strategies.
When one visits the home page of The Coca-Cola Company, he or she is greeted by the time of day and the slogan "global refreshment" (Coca-Cola, 2007). This is a globally marketed company that has found success all over the world and by having the ability to find the right balance between worldwide standardization and domestic adaptation has made Coke the number one brand in the industry (Armstrong, 2005). Popularity does not mean instant success in the international market though. Companies must completely understand the international marketing environment before deciding to operate on a global basis (Armstrong, 2005). Companies today face a bigger challenge with this understanding, as new opportunities and problems have arisen over the past two decades, due to the massive changes in the international marketing environment (Armstrong, 2005).
Many domestic and global environmental factors are involved that have an impact, positive or negative, on a company's marketing decisions. These high-level factors include understanding the international trade system and having knowledge of the economic, cultural and political-legal environments of the areas in which the company desires future growth (Armstrong, 2005). Coca-Cola expanded globally, within only seven short years of the company's birth (Armstrong, 2005). Imagine where this company would be today had they not "done their homework" in