Established over 120 years ago, Coca-Cola is still the most popular soda consumed worldwide and has a record-breaking 1.9 billion daily servings across 200plus countries. Coca-Cola has been keen on engaging its customers more effectively. The solid Coca-Cola Marketing Strategy has succeeded in reviving all of the people over the years and is ranked as the top manufacturer in the world and distributor of more than 3,500 non-alcoholic drinks.
Coca-Cola Target Audience
Coca-Cola has colossal brand recognition because it can reach every customer on the market. The perfect segmentation of marketing is a crucial reason for its popularity.
Age
- The company’s primary focus is youngsters aged between 10 to 35. They use celebrities in their ads to draw them in and organize advertisements in schools, universities, and colleges.
- They also target older and middle-aged adults who are health conscious or have diabetes by providing diet coke.
Income and Family Size
It offers packaging and sizes priced at different levels to improve affordability and targets students, middle-class and low-income families, and individuals.
Geographical segmentation
Coca-Cola sells its drinks globally and targets various traditions, customs, and climates. For example, in America, Coca-Cola is loved by older people. Therefore, the company has different target groups. It also adjusts its prices by the segments, such as, for instance, the Asian version is sweeter than the other versions.
Gender
Coca-Cola is targeted at people according to their gender. For example, Coca-Cola light is preferred by women, whereas thumbs up and coke zero are the most popular for men because of their flavor.
Coca-Cola Marketing Channels
Coca-Cola initially used an undifferentiated strategy of targeting. The company has recently begun localizing its offerings to improve its acceptance. It incorporates two fundamental advertising channels, both personal and non-personal.
Personal channels are those that allow direct communication with your audience. Non-personal marketing channels comprise both offline and online media like
- Newspapers
- Promotion Campaigns
- Events
- Television
- Posters
- Emails
- Webpages
- Leaflets
- Billboards
- PR-related activities
- Social Media
- Magazines
- Radio
Coca-Cola Marketing Strategy
A unique Coca-Cola marketing strategy is the reason for Coca-Cola’s global reach and wide-ranging popularity. This strategy could be divided into these parts:
Product strategy
Coca-Cola has around 500 items. Soft drinks are sold worldwide, and its strategy is based on a mix of marketing. The beverages it offers, such as Coca-Cola, Minute Maid, Diet Coke, Light, Coca-Cola Life, Coca-Cola Zero, Sprite Fanta, and many more, are available in various sizes and packaging. They make up a large portion and earn huge profits.
Pricing Strategy
Coca-Cola’s price was fixed for 73 years at 5 cents. The company needed to adjust its pricing policy flexibly in response to the increasing competition from competitors such as Pepsi. The company doesn’t cut its prices dramatically or raise the price excessively because this could result in consumers questioning the quality of the product and deciding to switch to a different brand.
Place Strategy
Coca-Cola has a vast distribution network. It operates in six areas: North America, Latin America, Africa, Europe, The Pacific, and Eurasia. The bottling partners of the company manufacture packaging, then ship it to agents. Agents then transport the product via road to the retailer and then on to distributors, retailers, and finally to the consumer. Coca-Cola also has a vast reverse supply chain network to take glass bottles that are not being used to reuse. This means that they can save money and resources.
Promotion Strategy
Coca-Cola uses a variety of marketing and promotional strategies to withstand the intense market. The company spends upwards of $4 million annually to market the brand using traditional and international media for advertising.
Classic Bottle, Font, and Logo
Coca-Cola held a contest across the globe to create the bottle. The contest winner used the cocoa pod’s style, and the company utilized the same design to promote its shape and logo. The logo, written in the Spencerian script, distinguishes it from the competition. How Coca-Cola employs its logo as part of its marketing strategy guarantees its presence in people’s minds.
Localized Positioning
The most recent “Share a coke ” campaign, launched in 2018 in more than fifty countries, has proved highly successful. The pictures of famous people from this region and the messages according to the language and culture of the area are targeted at the region’s market.
Sponsorships
The company is well-known for its sponsorships, such as American Idol, NASCAR, Olympic Games, and numerous others. Since the 1928 Olympic Games, Coca-Cola has been a partner in every sporting event, supporting officials, athletes, and spectators worldwide.
Social Media
Thanks to technological advances, social media, and other digital communication platforms have become the mainstay of Coca-Cola’s advertising strategy. It is actively using the internet’s online marketing platforms, such as Instagram, Facebook, Twitter, Instagram, YouTube, and Snapchat, to publish videos, images, and other content. This Coca-Cola marketing strategy primarily comprises SEO, email marketing, content marketing, and videos for marketing.
Conclusion
Effective marketing strategies can increase customer loyalty and increase market share. Learn how to increase the value of your brand’s products and services through the Postgraduate program on Digital Marketing. Improve your knowledge and accelerate your career by gaining knowledge from Purdue University experts.
