Coca-Cola
Coca-Cola is a beverage company that operates internationally. The organization has its headquarter in Atlanta, Georgia. Coca-Cola is a manufacturer, retailer, and marketer of beverages and syrups. Although the company offers about 500 brands of products, their primary product is Coca-Cola. Some of the Coca-Cola products include flavored Cokes, Dasani water, Sprite, Fanta, Minute maid, and Spice. The organization serves about 1.6 billion products every day in more than 200 countries (The Coca-Cola Company). The mission statement of Coca-Cola is “to refresh the world in mind, body, and spirit, to inspire moments of optimism and happiness through our brands and actions, and to create value and make a difference.” The company aims at providing high-quality products to ensure that its customers are satisfied. Also, the organization focuses on the health values of their products more than the profit to ensure that their customers live healthily. The mission statement of the Coca-Cola Company is “to craft the brands and choice of drinks that people love, to refresh them in body & spirit. And done in ways that create a more sustainable business and better shared future that makes a difference in people’s lives, communities and our planet.”
Various forces affect the company, including political factors, economic factors, social factors, technological factors, legal factors, and environmental factors (PESTLE). Political factors include government regulations and labor laws in areas where the company operates (Shtal et al., 2018). Changes in the policies may prevent the company from producing and marketing the drinks. Economic factors involve desires, tastes, and customs in various countries. Coca-Cola has to adjust its operations to accommodate customers of all customers. Since many people are adopting healthy drinks, the company is also moving in the same direction. For instance, they are producing Coca-Cola Zero Sugar, which is a healthy drink. Social factors involve cultures in the community. Since the company operates in countries with different traditions, it must adhere to the consumers’ cultural needs. For example, they produce different flavors that are appealing to customers from other regions.
Technological factors include machinery and media technology used by the company in the production and marketing processes. Coca-Cola uses machinery to manufacture products of good quality in higher quantities. The company uses social media platforms to reach out to potential customers leading to increased brand awareness. Legal factors involve retaining the rights related to the business. The company is accountable for its products, including the future and past goods produced. Environmental factors include resources used in the production process and the company’s ecological impacts on the world. Coca-Cola has sustainability ways of ensuring that they conform to the environmental standards set by each country.
The primary target market of Coca-Cola is the youth who uses drinks frequently. There are many youths in the world population, providing a large demand for the company’s products. The target is not gender-based since there equal chances of product consumption for both males and females. Every customer is considered as a potential consumer by the company hence is given appropriate attention. According to Abbasi (2017), Coca-Cola has the right marketing strategy that is based on improving brand recognition in the world, thus increasing brand awareness.
Coca-Cola has various strengths, weaknesses, opportunities, and threats (SWOT analysis). Shtal et al. (2018) postulate that some of the company’s strengths include customer loyalty, a large share of the market, appropriate marketing strategies, and a unique brand identity that gives it a more competitive advantage over competitors. Weaknesses associated with the company include inadequate healthy drinks, low product diversification, and immense competition from other beverage companies, such as Pepsi. The weaknesses prevent the company from effectively meeting the objectives; therefore, the company should develop appropriate strategies to ensure that the company improves the products. Opportunities include the increase in technology that can be used by the company in the production process to enhance the quality of the products and facilitate marketing (Ling, 2017). Also, diversification to a healthy diet allows the company to produce more healthy drinks. Threats to the company include indirect competition and sourcing of raw materials. Water is the company’s primary raw material, yet there is an inadequate supply that affects production. Coca-Cola should develop strategies for tapping sufficient water during flash floods and storing it for future use.
Marketing objectives of Coca-Cola include increasing sales of the products, which in turn increases the income to the company, establishing brand loyalty, increasing new customers through improving awareness of the company to the potential customers through the use of social media, billboards, and poster marketing. Moreover, retaining new customers is another marketing objective of the company that would be achieved by providing quality products that meet customers’ desires.