Coca-Cola Company - Mission, Goals, Product Differentiation Strategies - Research Paper Example

? THE COCA-COLA COMPANY Coca-Cola Company mission The consumer packaged product under evaluation is the Coca-Cola Zero. The product is of interest because it among the company’s most successful products in the market. The Coca-Cola Company produces the product to increase its sale in the competitive beverage market. The company has been in business for over 125 years with its product sales in over 200 countries. Coca-Cola Zero is among the over 3500 products that the company offers to the market. In the beverage industry, the company’s position with regards to its competitors shows how the company’s marketing strategies have worked (Theodore, 2009). The mission statement acts as a guide to the company’s decision making. In the mission statement, an overall summary of the goals of the organization is stated. The mission statement for Coca-Cola Company aims at creating value for the goods produced by the company so that they can be differentiated from other producers in the market. Coca-Cola Company strives to refresh the customers and instigate moments of happiness and optimism. The mission statement ensures that the company maintains quality production standard using innovation to ensure that the company stays ahead of the competition (Moses, 2010). The products produced by the company are marketed using the mission statement in mind. The product content, product design, and targeted market support the company’s mission. With the changes in the technological sector, the quality of products with regards to the design and the content is constantly changing. Dietary problems in the globe with cases associated with calories being on the increase, the company’s focus on health products has enabled it to retain its market share (Theodore, 2009). Coca-cola Company’s goals The soft drink company has goals that it has set for ensuring continuous growth in the market. The goals can be divided into categories depending on the targeted audience. The first category deals with its commitment towards the shareholders. The company trading its shares in the stock exchange market has an obligation to its shareholders. The company aims at providing the shareholders with a high rate of return in terms of the profit generated from the investment. The company also aims at increasing the shareholders market share through making the company’s shares marketable in the stock market. The goals can also be with regards to the customers. The company aims at providing customers with their favorite drink regardless of their geographic location. This goal enables the company to increase its customer base. The goal ensures that all the needs and wants of the customer are met. The customers are prioritized in the company as they provide the revenue while shareholders follow because of their contribution towards capital (Moses, 2010). The other goal category relates to the environment. Conservation of the environment has been a significant concern in recent years with government imposing stiff penalties to companies that pollute the environment heavily. The company aims at reducing its carbon emission by 15% by the year 2020. This is a significant contribution to the environment aimed at reducing the effects of global warming. Reduction of carbon emissions also enables the organization to save on the penalties charged to companies with high green house emissions. How Coca-Cola positions its brand Brand positioning relates to the efforts of the company to attract a bigger market share compared to the competitors in the market. The company offers over 3500 products in the global market. Product diversity show’s that the company’s evaluation of the segmented market and producing many goods to serve the diverse client needs. This allows the company to compete adequately with regards to product diversity. To attain leadership status in the competitive beverage market increasing product variety is paramount (Theodore, 2009). The company’s innovation towards designing the right product to attract customers across demographics in the global market enables the company to be well positioned in the market. The company’s innovations have enabled it to expand its market share. Innovation relates to the products design, and its components it can also refer to the packaging. The product should be packed attractively to attract the targeted customers in the market. The company’s trade mark identifies the company with regards to the product with the trade mark. The company’s trade mark is well known in the global market. The company is known for production of beverages. The company’s brand is identified as a family brand which places it ahead of other companies in the beverage industry. The pricing of products in the market also contributes to the company’s position. The company prices its products differently and cheaply compared to other companies in the industry (Moses, 2010). Coca-Cola product differentiation strategies In a competitive market, the producers need to ensure that their products can be differentiated from a competitor’s products. Differentiation ensures customers buy from the brand that the selling company has advertised. Product differentiation by Coca-Cola Company has been achieved through various strategies. The company ensures that their products are packaged uniquely, and contain their Brand name to ensure that their goods are not confused with other products in the market. Customers shopping for Coca-Cola products can select the product from other similar products. Differentiation encourages brand loyalty, which enables the company to establish control over the market (Theodore, 2009). Product advertising increases awareness in the market and customers are able to identify Coca-Cola products from other products. The company ensures that its products can be differentiated from other products in the market through conducting intense marketing to ensure customers can identify products from company. The use of print media and television advertisement increases the awareness in the market and customers are able to identify the products in the market (Moses, 2010). The company has been in the beverage industry for long and has acquired a reputation of being a leader with regards to quality and innovation. The company’s reputation enables the company to differentiate its products with regards to other products in the market. Loyal customers will ensure that they but the company’s product due to the perceived quality associated with the company. The company’s advertisements relate the company’s products wit fun and joy. This relation ensures that the company attracts more customers than its competition. References Theodore, S. (2009). E. Neville Isdell 2008 EXECUTIVE OF THE YEAR. (cover story). Beverage Industry, 100(10), 44. Moses, C., & Vest, D. (2010). Coca-Cola and PepsiCo in South Africa: A Landmark Case in Corporate Social Responsibility, Ethical Dilemmas, and the Challenges of International Business. Journal Of African Business, 11(2), 235-251. Read More