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Objectives & Strategies Of Coca Cola Company

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Question:

Discuss about the Coca Cola’s Marketing Strategy.
 
 

Answer:

The corporate objective

The objectives are important to make the performance of the strategic planning better. The top management of the company sets up plans. It makes some guidelines for the business plans, the plans of projects and also looks into smooth flow of cash plans, maintaining budget and also look into human resource (Oluikpe, 2012). The corporate objective looks forward to define the goals of the organization which gives idea about a proper strategic planning. The corporate objectives look forward to know the intentions of a company and how the organization is going to implement it to meet the basic needs (Oluikpe, 2012).

It is rather than provides definition to the real goals of a company which influences its strategic decisions. The goals of the corporate objectives are the targets which are utilized by the business to anticipate their business in order to maintain a strategic idea to achieve the said targets in future or in a stipulated time period (Oluikpe, 2012).

Objectives and Strategies aimed by Coca Cola Company

The Coca Cola Company’s objectives are to identify themselves as a globally known business which carries out the responsibility of the business more ethically and also focus on the acceleration of the growth of operation in the world of tomorrow. By making these objectives the main base, the company’s foundation in the decision making process is being formulated (Coca-colacompany.com., 2017).

The coca cola wants to make its brand famous internationally by reaching to the nearest convenient stores movie theatres and groceries. The company evaluates their business plans and also accordingly tries to improve their performances.  Their mission is to build a portfolio of the beverage drinks and bring satisfaction to the desires of the people (Coca-colacompany.com., 2017).

 

Marketing Orientation concepts

The concept of the marketing has transformed over time. The important concepts of marketing are 

  • Production Orientation: The aim of the business always through the help of mass production to reduce costs. A business which is production oriented must avoid the process which might affect the design and quality of products (Hollenson, 2015).
  • Product Orientation: A company which is product oriented aimed to make its high quality product and must be a product of superior quality (Hollenson, 2015). If they have a superior product, the buyers would automatically go to like the products.
  • Sales Orientation: A sales focused company is quite simple. The company makes the products and sends into to sell in the target markets. A good marketing strategy looks forward to the development of the products and finally they would come with an effective strategy based on promotion (Hollenson, 2015; Urde et al 2013).

Coca Cola Company and Product orientation

The coca cola company’s mission statement states that the company sells beverages which are non – alcoholic in nature and the customers can drink throughout the day. The organization understood that the activities of the organization leave a deep impact on the satisfaction of the customers (Coca-colacompany.com., 2017; Hollenson, 2015).That is why the Company aims to make its product better with time so to make its product of the superior quality and also to make its position in the market place to survive the competition.

‘One Brand’ marketing strategy of Coca Cola

The One brand Strategy of Coca Cola gathers its four varieties Diet Coke, Coca Cola zero, Coca Cola life and Coca cola under the one master banner instead of treating them as separate products. The strength of the One Brand Strategy would do justice to the Coca cola across all Trademark products of Coca cola which would give the customer’s choice more clearly (Coca-colacompany.com., 2017). The company right now following a strategy, their aim is to launch the brand having values of different nature and a new personality. The strength lies in the fact that initially the launching of sub brands created many distortions. Now the company has one Brand with many variants (Kapferer, 2012; Coca-colacompany.com., 2017).

However the weakness lays in the fact that Pepsi posed to be a tough competitor for Coca Cola. The company could have established its brand as a market leader if Pepsi had not been there. 

The One brand marketing Strategy would help the company to meet its corporate objective by taking themselves from the distortions and supplying the other variants under the one banner to meet the customer’s satisfaction (Armstrong et al., 2012; Coca-colacompany.com., 2017).

 

References

Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Pearson Education.

Coca-colacompany.com. (2017). Coca-Cola Journey Homepage. The Coca-Cola Company. Retrieved 9 August 2017, from https://www.coca-colacompany.com/

Hollensen, S. (2015). Marketing management: A relationship approach. Pearson Education.

Kapferer, J. N. (2012). The new strategic brand management: Advanced insights and strategic thinking. Kogan page publishers.

Oluikpe, P. (2012). Developing a corporate knowledge management strategy. Journal of Knowledge Management, 16(6), 862-878.

Urde, M., Baumgarth, C., & Merrilees, B. (2013). Brand orientation and market orientation—From alternatives to synergy. Journal of Business Research, 66(1), 13-20.

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