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Strategic Choices for Coca-Cola Company
Pages 5 (1255 words)
From the period, it was established the company has progressively become popular and recognized brand in the global market. Today, Coca-Cola Company operates in about 200 countries under…
In order to create an edge over its competitors, Coca-Cola has adopted differentiation strategy, which in many ways has proved successful for the company. Nevertheless, it is important to evaluate how this strategy has been successful for the company and the likely recommendations for modifications especially in line with its mission and vision.
Coca-Cola has for a long time favored the resource-based concept, which has become the main avenue of its strategic goals (Pearce and Robinson, p.1). The company perceives its success in the market to rest on effective use of its fundamental resources such as the brands, systems, capital, and the people. The goals of the company have been drawn and implemented based largely on these fundamental resources. At the same time, the attempts of the company have largely been geared towards creating competitive advantage by utilizing its resources to the maximum. The most characteristic of the company has been reflected in its increased use of resources to promote its brands around the globe through increased advertisement and promotion (Pearce and Robinson p.2). As a result, the company has been successful in creating strong brands in the market.
In order to successful carry out its strategic goals and objectives, Coca-Cola has widely adopted the differentiation strategy, and this strategic method has enabled the company to strengthen and foster its position in the wider global market (Knol Beta p.1). Differentiation strategy according to Porter aims to make company’s products or services unique when compared to its competitors (Stonehouse and Campbell p.177). The ultimate aim of this strategy is to create customer loyalty that exhibit little price elasticity of demand due to perceived unique aspects of the products or services as compared to competitors (Stonehouse and Campbell p.177).
Effective of this strategy for the ...
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