Stephen, The graph above best describes the normal curve of a product life cycle. Coca Cola has too many brands to be evaluated in the most accurate manner, hence in this product life cycle, the top and most well-known brands shall be considered which can potentially as well generate a significant turnover for Coca Cola. Here are few of the list: Coke lemon, Diet, caffeine freecherry, lime, vanilla etc.
Tell us what you need to have done now! Nevertheless, companies continue to expand and develop and take advantage of globalization, which is considered to be an historic trend and an inevitable evolution process. The Coca Cola Company is a prominent, American Multinational beverage company that constitutes its own product manufacturing, distributing and marketing efforts in over countries worldwide.
The company that is best known for its bellwether beverage, Coca Cola, was established as The Coca Cola Company in by Asa Candler and has presently, collaborated with approximately bottling partners throughout the world.
It offers brands of products including of diet beverages, sports drinks, teas coffees and juices. As a consequence of globalization, the Coca Company has capitalized on many opportunities and experienced many backlashes. When the Coca Cola syrup was created by pharmacist, John Pemberton incitizens of the United States were delighted and enthusiastic by the new product that was distributed from a cola fountain.
As the demand for the product grew John sold the exclusive rights for the product to salesman, Asa Griggs Candler, who began developing the product as a brand. Asa Candler began to introduce Coca Cola throughout the United States by developing marketing strategies such as offering coupons and merchandise with the Coca Cola logo.
This strategy soon made coca cola to be available and consumed in every state of the United States. Subsequently, because of the exceedingly increasing demand for the beverage new measures had to be established to distribute the product to reach all their customers.
In the year coca cola was put into bottles that allowed the product portability. Large scale bottle manufacturing activities was then initiated after statistics had proven that the bottled coca cola sales surpassed the fountain sales. The new bottling innovation along with continuous marketing strategies took the company to the global stage and the coca cola beverage was now bottled in Cuba, Panama and Canada.
The exclusive right to sell the product was then sold to lawyers, Benjamin F. Thomas and Joseph B. Whitehead whom had to please their exceedingly expanding consumer base as the company was now an international company.
Joseph and Benjamin began implementing and delegating new methods to safeguard their product such as advertising to consumers to demand the authentic coca cola and to refuse substitutes.
They also gave the coca cola beverage a new feature, they distributed the beverage in a contour glass bottle that can be recognized anywhere by consumers and this advancement brought new life to the company. The new design allowed the company to further expand globally.
The company then began distributing its flagship product to Puerto Rico, France and other foreign countries. By the year the Coca Cola Company had established about plants worldwide from only 2 plants initially.
One can observe how the competitive forces and increasing demand, as a result of globalization, basically forced the company to become more innovative and creative subsequently resulting in better and reinforced marketing strategies as well as an new and more appealing and distinctive image for the product that positively impacted the profitability of the company.
However if the company did not respond to the new pressures of the global environment they may have experienced a lesser demand for their product and lose competitive advantage due to the fact that fellow competitors would be given an opportunity to move in on their market share.
This would have severely impacted the success of the companies in a negative way as the company would be losing customers thereby losing revenue and profits.
So it can be said that a global business environment requires a company that must be able to survive susceptible changes. These susceptible changes are triggered because of the continuous change in consumer needs and wants that is mainly generated by advance the continuous progression of globalization.
To survive these susceptible changes companies must consistently derive new innovations and new ideas to keep up with their constantly changing consumer needs. As the world began interconnecting more globally because of technological, political, educational and corporate advancement mainly because of social and cultural preferences beginning to become more similar, new doors began to open for the corporate world to strategize their global operations and recognition.
In Robert Woodruff who was then the president of the company utilized the Olympic Games as an international foundation for the company. The company sponsored the United States team which allowed coca cola to further be recognized on highly publicized international stage.
During this event, Robert Woodruff began to introduce new inventions, these inventions were the six pack carrier case, a vending machine and new fountain dispensers with a bell shaped glasses.
The games assisted to spur new innovations within the global environment on a more recognized stage thereby further impacting the success and growth of the company. Again as globalization progressed changes in innovations were needed inorder to secure and expand market share, reinforce competitive advantage and please the changing demands of international consumers.
Becoming an international company means that one would be serving an international market therefore consumers will have different preferences and with coca cola continuing to derive new methods to distribute their product in different ways consumers will now have a variety of ways to enjoy the product, subsequently this would allow more options for consumer to be pleased therefore attracting more customers and expanding market share.
The Coca Cola Company continued to reinvent its marketing strategies to grasp international attention and appeal. Being a growing international success, the changes conducted by company would be more highlighted in the global spotlight due to organizations watchdogs and similar corporations, therefore a greater reaction would be accompanied by the change.
In this case the reaction was a controversial one that can negatively affect the image of the company. By devising this strategy consumers felt more comfortable with the change and therefore acknowledged the new innovation at ease. As the international success of the company expanded, Woodruff continued to use the arising global opportunities to his advantage.
World War 2 had now commenced and Woodruff made the beverage available to all service people in uniform at a cheaper price this allowed the beverage to be purchased in massive amounts during the war which then allowed the company to the opportunity to create 64 additional bottling plants inorder to provide for United States military and service personnel in international countries.
This laid the most important international foundation that increased the international market of the company.Coca-Cola and its Global Marketing Strategies Coca-Cola is a company that is known worldwide for its product.
It is a drink that spans all ages, colors, races, and countries. The Coca-Cola Company is the world’s leading manufacturer, marketer, and distributor of .
Globalization Coca Cola Globalization describes the proliferate synthesis of the world’s economic, political, technological and socio-cultural systems through the liberalization of international trade and investment or the reduction of barriers to international trade such as tariffs, import quotas and other related import and export restrictions.
The coca cola products (Coca-Cola and Sprite) are company own featured products. Before launching the products in the market, this report evaluates the FMCG market as well as customer group. It uses customer purchasing behaviour and competitors in its first and second data. The company that I chose to analyze is the Coca-Cola Company.
Founded in , it has now emerged as the world's largest manufacturer, marketer, and distributor of nonalcoholic beverage concentrates and syrups, used to produce more than beverage brands. Globalization and the Coca-Cola Company Introduction Today, Coca-Cola is one of most well-known brands in the world.
This company has continued to gain momentum and growth, capitalizing on the rapidly expanding beverage industry and ranking as the largest beverage company in the world. Globalization - Coca Cola Company. Company Profile In May of , Coca Cola (often referred to as COKE) was invented by Dr. John Pemberton a .