From the star-studded ‘Coca-Cola’ drink to the Inca Cola in North and South America, to Vita in Africa and thumbs up in India, Coca-Cola has a portfolio of over 3500 products. Because it is present in more than 200 countries and is distributed to an average of 1.9 billion people daily, Coca-Cola is listed as the most valuable brand in the world, with 94% of the world’s population recognizing the red and white Coca-Cola brand logo. In addition, Coca-Cola products make up 3.1% of all beverages consumed worldwide. All of this is due to its excellent marketing strategy, which we will discuss in this article about Coca Cola marketing strategy.
- The market capitalization is $ 192.8 billion (as of May 2016).
- Annual dividend increased for 53 consecutive years.
- With a revenue of over $ 44.29 billion, it is not just a company, it is an economy.
The world knew and tasted Coca-Cola products. In fact, of the 55 billion services of all kinds of beverages consumed every day (except water), 1.7 billion are Coca-Cola branded/licensed beverages.
Market Research in the Beginning
It all started 130 years ago, in 1886, during the Civil War, a Confederate Colonel John Pemberton wanted to create his version of Coca wine (cola containing alcohol and cocaine) and sent his son-in-law Louise Newman to conduct market research. Samples for local pharmacy (Jacobs Pharmacy). Then this is not a new idea. The original idea for coca wines was invented by the Parisian chemist Angelo Mariani.
Pemberton’s model was sold for 5 cents a glass and customer comments were conveyed to him by his nephew. So, by the end of this year, Pemberton is ready with a unique recipe to suit the tastes of the customers.
Coca-Cola Marketing Strategy in the Beginning
Pemberton soon had to convert it to non-alcohol because of the laws in force in Atlanta. When the product was introduced, it was marketed by Pemberton as a “brain tonic” and “soothing drink” (anti-alcohol), claiming to cure headaches, anxiety, depression, indigestion, and addiction. Cocaine was removed from coke in 1903.
The name and original (current) trademark symbol were the ideas of Pemberton’s accountant Frank Robinson, who designed the logo in his handwriting. To date, Coca-Cola’s best strategy is not to change the logo.
The formula was sold to Asa G. Candler (in 1889), who converted it into a soda drink, and real marketing began. The candle is a marketer. He distributed thousands of acclaimed Coca-Cola glass coupons, souvenir calendars, watches, and more.
He painted the barrels of syrup red to distinguish Coca-Cola from the others.
Various syrup factories opened outside Atlanta, and in 1895 Candler declared that Coca-Cola was drunk in every state and territory in the United States.
The Idea of the Bottle
In Candler’s time, Coca-Cola was sold only by soda springs. But two innovative ideas, Benjamin F. Thomas and Joseph b. Whitehead defended Candler’s exclusive rights (for just $ 1) to the sale of bottled Coca – Cola.
But Coca-Cola is so popular in the United States that it is subject to counterfeiting. Early advertising campaigns such as “Demand the genuine” and “Accept no substitutes” helped the brand somewhat, but there was a need to differentiate. So, in 1916, a unique bottle of Coca-Cola was designed by Indiana’s Terre Haute Root Glass Company. The trademark bottle design has not changed until now.
In 1919, Candler sold the company to Robert Woodruff, whose goal was to make Coca-Cola available to anyone, anytime, anywhere. Bottle factories were set up around the world & Coca-Cola became the first truly global brand.
Robert Woodruff had some other tactics as well. When measuring the company, he focused on maintaining the best quality. He wanted to establish Coca-Cola as a premium product that received more attention than its competitors. And succeeded in it. Coca-Cola grew rapidly around the world.
Coca-Cola Marketing Strategies
Coca-Cola’s global popularity was the result of such simple and exciting marketing strategies –
You can see the consistency from the logo to the bottle design & the price of the drink (price 5 cents from 1886 to 1959). Coca-Cola keeps it simple, each slogan revolves around the two words ‘happiness’ and ‘happiness’.
From star bottles to calendars, watches, and other unrelated items, Candler started the trend of looking at Coca-Cola everywhere. The company has been following the same branding strategy to date. Coca-Cola is everywhere, so it has the most famous logo in the world.
Coca-Cola does not position itself as a product. It was and it was the ‘experience’ of joy and happiness.
The bottle rights were sold to different local entrepreneurs, which continues to this day. Therefore, Coca-cola is not a giant company, it is an organization of many small companies reporting to one large company.
Personalization & Socialization
Unlike other large companies, Coca-Cola maintains its position as a social brand. It speaks to users. Coca-Cola is no longer a company. It is now a part of us. With its iconic advertising ideas like “I want to buy a coke in the world” & “Share a coke”, it has maintained a special place in the hearts of its users.
Coca-Cola took the first step to diversify its portfolio in 1960 with the acquisition of Minute Maid, after its global presence. It now operates in all but 2 countries worldwide with a portfolio of over 3500 brands.
Coca-Cola Marketing Facts
- Logo & bottle design has not changed from the beginning.
- In its first year, Coca-Cola sold an average of 9 drinks a day.
- Norman Rockwell Coke created the art for advertising.
- Coca-cola plays a major role in shaping our image of Santa Claus.
- In the 1980s, the company launched the “Coke in the Morning” campaign to win over coffee drinkers.
- In 1923, the company began selling bottles in six packages, which became common practice in the beverage industry.
- Recently, it was reported that Verizon has bought Yahoo for about $ 5 billion, which is more or less the same amount that Coca-Cola spends on its advertising.
- Coca-Cola employs more than 123,200 people in many countries.