But how does a business decide upon the best strategy for growth? The Ansoff Matrix management tool offers a solution to this question by assessing the level of risk — considering whether to seek growth through existing or new products in existing or new markets. The company has since gone on to successfully launch other flavoured variants including lime, lemon and vanilla. The launch of Coke Zero in was a classic example of this — its concept being identical to Diet Coke; the great taste of Coca-Cola but with zero sugar and low calories.
Therefore, it exists in almost countries and has a global brand value and brand loyalty contrary to most brands in the world. Nowadays, Coke wants to raise brand loyalty and brand equity, throughout communication, but also innovation in order to differentiate is product.
A differentiation strategy is the development of a product or service that offers unique and differentiating attributes which are valued by customers and perceive to be better than or different from the products of the competition.
The value added by the uniqueness of the product may allow the firm to charge a more expansive price for it premium price. The extra price is supposed to cover the costs incurred in developing and offering the product.
Similarly coca cola has created its differentiation by utilizing soft sell approach. Company has successfully positioned itself on the following standards: It has thus based its strategy on diversification as its main brand is derived by sub-products maintaining a strong affiliation with Coca Cola: However, Coca Cola needs to stay vigilant regarding the competition and its evolution in order to avoid being the stuck-in-the-middle manufacturer.
The company has to differentiate confidence from content so that they stay aware of the situation and the context they are operating in, and in order to prosper in the future thanks to a stronger focus on their differentiation strategy.
It is one of the most held trade secret ever, and only few employees have access to it. The packaging and shapes of Coca Cola soda products are diversified and adapted to the target and to the moment of consumption.
The core brand is Coke best selling soft drink around the world and contains different kind of products.
Thus, all over the world, the classic Coke had the same color: This is the color consumers associate with coca cola. Coke Zero is black, corresponding to the target men. The different shapes are:Coca-Cola: brand extensions from New Coke to Coca-Cola Life Marketing traces the history of Coca-Cola's original medicinal tonic of the 19th century, through to the launch of its first-ever variant nearly a years later, and beyond, to the present day.
Coca-Cola recently launched "Coca-Cola Life" in Argentina and Chile and the green bottles and cans are due to debut in Europe in Why a new product line extension, with risks of cannibalisation?
The "marketing textbook" answer is that product line extensions can recruit new consumers and increase the brand's market share.
In , soft-drink history was made with the introduction of Diet Coke®, the first extension of the trademarks Coca-Cola and Coke, and the most successful new soft drink since Coca-Cola itself.
Within two years, Diet Coke had become the top low-calorie soft drink in the world. (Coca-Cola Company, Annual Report, ) It is a business with a popular, affordable product, with a strong foothold in many countries The Strategic Positioning of Coca Cola The global soft drinks market is dominated by 3 household names: Coca- Cola, PepsiCo and Cadbury-Schweppes.
Coca-Cola Brand Management Analysis CONTENT A world wide brand –Coca-Cola 3 Coca-Cola Recognition 3 The Other Side of Coke 4 Coke associations (good and bad) 4 Market positioning for Coca-Cola 5 Positioning strategy: Global is Out, Local is In 5 Increase the brand equity method 6 Advertising 7 Find big global partner 7 Sponsorship 7.
Coca Cola Product Strategy Coca Cola was definitely focused on the internationalization of is brand. Therefore, it exists in almost countries and has a global brand value and brand loyalty contrary to most brands in the world.