The Coca-Cola Company is the most famous American multinational beverage company. It became a world-renowned company after its inception in 1982. The marketing strategy of this company analyses the brand with a marketing mix of framework that covers 4ps (Product, Price, Place, promotion) of Coca-Cola.
Many other marketing strategies include product innovation, pricing approach, promotion placing, etc. Coca-Cola offers a lot of beverages with the expedition of the product portfolio over the years. Its name will remain a substantial synonym with its classic dinks.
Online presence is necessary to lead a business, and it is one of the reasons why Coca-Cola is investing so much in marketing. Although digital marketing has become more prominent than other businesses, they must have an online business to stay in the game.
For leading a business, achieving goals and objectives only depends upon any business’s marketing strategy. This article shall discuss the marketing mix 4ps of Coca-Cola in this article. So, let’s start!
How Does Analysis of Coca-Cola Marketing Mix Help Us 2022?
The analysis of Coca cola’s marketing mix helps us know the strategies involved to run its flourishing business. For example, 4ps of Coca-cola tells us about this company expanding its products, managing its products in the market, and locating where its products are available or sold.
The Coca-Cola marketing strategy helps the company or brand position or compete in the market and achieve its goals and objectives. This article will learn how Coca-cola promotes and advertises products and how it makes public relations.
Marketing Mix 4Ps of Coca Cola 2022
Marketing mix refers to a business foundation model that focuses on product, pricing, place, and promotion. You can also say that a marketing mix is a collection of marketing techniques that a company uses to get its marketing objectives in a target market.
So, it is holistically covering a marketing business and business strategies surrounding any business. Coca-cola is a leading company that has built an unrivaled beverage portfolio containing Coca-Cola, Coca-Cola Zero, Thums Up, Fanta, Sprite, Diet Coke, and many others that we will discuss now. Coca-Cola marketing mix. For further details, keep reading this article.
Here, we will discuss marketing mix 4ps of Coca cola’s product line and explain the pricing strategy of products and the location it has as of 2022. The excellent marketing mix helps the Coca-Cola company compete with its competitors and standstill in the market with great popularity.
Coca Cola Product Strategy
Coca-Cola has increased and diversified its products over time as this company offers almost 500 sparkling and beverage brands in its portfolio. In addition, there are more than 3900 beverage options in total in Coca-Cola’s product mix.
No doubt, Coca-Cola, this company’s flagship product, is now one of the most well-known and valuable products and brands. Here, we have mentioned some of the most Coca Cola’s famous brands.
- Coca-Cola- is one of the most popular and high selling soft drinks. And it is one of the most recognizable brands.
- Sprite- is also one of the famous soft drinks with a lemon-lime flavor. It was produced in 1961.
- Diet Cola- in most markets, it is referred to as a Coca-Cola lite. It is a calorie and sugar-free soft drink. Diet cola was first introduced in 1982.
- Fanta- it is coca’s second-oldest Cola brand. It was first introduced in 1940. And it comes in a unique or signature orange flavor.
- Coca-Cola Zero- was first created in 2005. And this sugar-free cola soft drink became a million-dollar brand in 2007.
Coca Cola Price Strategy in marketing
Coca-cola follows a price discrimination strategy in the marketing mix. It shows that they charge different prices for its products in different segments. And the beverage market is known as an oligopoly because of its small number of sellers and many buyers.
In addition, Coca-Cola and Pepsi are their 2 most popular brands. So, the Coca products are the same price as Pepsi has in the same segment.
The consumers of developing nations like India are mostly price-sensitive, and may they flip if Coca-Cola prices are too high compared to Pepsi in the same part.
Moreover, both parties are agreed to preserve a price parity in all segments. As a result, Coca-Cola now provides many discounts on its bulking purchases by bundling items.
Coca Cola Place Strategy in Marketing
Coca-Cola contains an extensive beverage distribution system as Coca-Cola has been in business for more than 130 years. And this company has amassed a vast distribution network as it operates in almost 200 countries worldwide. Its products also work in 6 regions, including Europe, Latin America, North America, Asia Pacific, and Africa.
This company manufactures the beverages using the patented formula and distributes them to bottlers worldwide.
In addition, the Coca-cola company itself is in charge of consumer brand marketing campaigns and producing and selling concentrates, beverage bases, and syrups to the bottling plants.
Their bottling partners manufacture packages and merchandise and then distribute finished branded beverages to the vending partners who sell them to consumers. Its products must be found in every retailer shop and supermarket.
Coca-cola products are sold out in 2.5 million stores in India. And their products are distributed in many hotels and restaurants all across the world. Its extensive and vast distribution network highlights Coca-Cola’s place and distribution strategy.
Coca Cola Marketing Promotions
Coca-cola is the gold stranded regarding advertising and branding. Its promotion strategy only focuses on aggressive marketing through ad campaigns by using media channels, for example, online commercials, TV, Print media, Sponsorship, and many more.
Coca-cola sponsors many important events like American Idol, NASCAR, NCAA, NBA, BET Network, FIFA World Cup, Olympic Games, etc. In addition, it also airs many commercials on TV in a variety of national languages throughout the world.
Coca-Cola started the “Taste the Feeling” campaign in India in March 2016. It intends to remind the people of the joy and happiness that Coca-cola delivers to their lives. It has evolved into a mass-market product, which is expected to be available at any time ad anywhere.
Maybe you have not thought about it, but coke has associated with happiness. So, Coca-Cola in Mandarin means “delicious happiness.” Moreover, when you see the company’s happiness machine videos on YouTube, you must be convinced.
So, think about it while evaluating Coca-Cola’s marketing strategy. This may be the secret of its success but starting from the first year of its operation in 1886in Georgia, Atlanta, creator John Pemberton sold an average of 9 servings of Coca-Cola every day.
And today, 133 years later, the daily number has increased to more than 1.9 billion servings of Coca-Cola company’s products.