Coca Cola Marketing Strategy
Effective marketing strategy has played a critical role for Coca Cola’s success in the global marketplace. The company has declared its total compliance with the following 4 principles of Responsible Marketing Policy:
- Choice – providing a great range of product options, so that customers can choose according to balanced diets and active lifestyles.
- Balance – encouraging the consumption of beverages in sensible manners and moderated amounts.
- Honesty – adhering to the principles of honesty and transparency in all marketing and sales activities.
- No marketing to children – marketing of any products should not be aimed at children under the age of 12.
In addition to its own marketing initiatives, Coca Cola provides promotional and marketing services to distributors, bottlers and resellers on a discretionary basis. In 2014 marketing expenses of this category amounted to $7 billion respectively[1].
The company has announced ‘One Brand’ marketing campaign that is aimed to unite four different brands – Coca Cola, Diet Coke, Coca Cola Zero and Coca Cola Life under the umbrella of Coca Cola. The level of marketing spending to advertise lower sugar, no sugar and no calorie beverages has been doubled in 2015[2].
One Brand” that unities four different brands
Advertising
Coca Cola advertising strategy is boldly experiential with innovative design of posters and print and media advertising. The company is announced that media advertising investments will increase by $1 billion by 2016[3]. According to “One Brand” marketing campaign Coca Cola advertising via various channels will feature all four different brands of Coca Cola as illustrated in Figure 2 above.
Viral marketing is accepted as an important element of the advertising mix by the company and it is extensively applied to promote specific marketing initiatives such as ‘Sharing a Can, personalization of Cola cans and bottles by printing names, as well as, “Sing For Me” campaign, an initiative that involved a vending machine to dispose a free Coke if a customer sings a short Christmas carol.
Sales Promotion
Coca Cola applies sales promotion marketing in various formats. Instances of sales promotion applied by the company include but not limited to the offer of a free cooler bag if a customer commits to a specific amount of a minimum purchase, offer of a seasonal Christmas Caravan Pack that comprises Coca Cola glass and other souvenirs, “Buy 2 for the Price of 1” sales promotion during football seasons and others. Moreover, many global restaurant chains such as McDonand’s, KFC and Subway around the globe offer Coca Cola free of charge as a part of their own sales promotion campaign…
Coca Cola Company Report contains more detailed analysis of Coca Cola marketing strategy covering issues of Coca Cola’s public relations, events and experiences and direct selling. The report also comprises application of SWOT, PESTEL, Porter’s Five Forces and Value-Chain Analyses on Coca Cola Company, along with analysis of company’s approach towards Corporate Social Responsibility (CSR).
[1] Annual Report (2014) Coca Cola Company
[2] Coca Cola Company (2014) Available at: http://www.coca-cola.co.uk/stories/health/choice-and-information/coca-cola-one-brand-marketing-strategy/
[3] The New York Times (2014) Available at: http://www.nytimes.com/2014/03/01/business/challenges-for-coke-to-stay-on-top.html?_r=0