This essay describes the strategies employed by the manufacturer in ensuring the product attains dominance in the market. These strategies will be investigated through reviewing various company and academic sources to evaluate these strategies and their degree of success in the market. …
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This "Consumer and consumption" essay outlines the marketing strategies that Coca-Cola used to become the leader on the market. The globalized world has resulted to new borderless markets with numerous corporations crossing geographical and political boundaries to market and initiate operations and investments on a global scale. International marketing leads to a new problem where organizations have to utilize ingenuity, creativity, and huge budgets to attain a competitive edge in the market. This has resulted in international marketing concept; leading organizations to utilize different perspective in attracting customers on a global scale through perceptions and brand images. While a consumer product is made in the factory, consumers in most cases do not buy the product, but the brand, which is perceived to add value to it. This was a statement by Charles Revlon, the founder of Revlon, who noted that in the factory, he made cosmetics, but customers bought hope from the stores. This trend will be strategically portrayed in Coca-Cola Company in manufacturing, marketing, and production of the coca cola beverage that has become one of the leading global brand names in refreshments.
The Coca Cola company history began in 1886, when the curiosity of one Atlanta pharmacist Dr. Pemeberton resulted to the creation of a tasty distinctive soft drink, which could be sold in many soda fountains. The strategy was creating flavored syrup, mixing with carbonated water, and giving to neighbors around his pharmacy. Those who tasted the drink exclaimed that it was excellent (Coca Cola, 2011). During the first year, the Coca Cola servings were at 5cents per glass, with the sales being an average of nine servings daily in Atlanta; compare this with the current estimated coca cola servings of about 1.6 billion daily current (Coca cola, 2011). The history that marked the current Coca Cola Company as it is known today dates back to 1894, after the death of the founder; when Biedenham installed the first bottling machinery at the Mississippi soda fountain, which was the first attempt to sell Coca Cola drink in bottles (Coca Cola, 2011). Joseph Whitehead and Lupton developed what is known as the Coca Cola worldwide bottling system, as it is known to
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During the course of this research, the following takeaways are expected to be obtained: (1) understanding of consumer behavior in relation to incremental price changes in selected models of Toyota; (2) determining the extent of impact that price movement has on car owners and potential car buyers; (3) improving future price strategies.
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