Branded Product Review: Coca-Cola - Essay Example

Branded Product Review: Coca-Cola The Coca-Cola Company targets the nonalcoholic beverage concentrates and syrups market. Apart from the Coca-Cola classic, the company produces nearly 400 brands that target at different market segments. ("The Coca-Cola Company", 2006) The Coca-Cola Company has identified 6 major market segments, namely, Energy Drinks, Juices/Juices Drinks, Soft Drinks, Sports Drinks, Tea and Coffee, Water. ("Make Every Drop Count", 2006) The Energy Drinks are featured by higher caffeine content, which could keep people awake even when they lack of sleep. Juices/Juices Drinks target at health -conscious consumers. The Soft Drinks segment is further divided into different segments, a wide range of products are offered to fulfill the needs and wants of different consumers, from those on diets to those who look for caffeine-free drinks. The Sports Drinks segment wants the optimal performance during prolonged physical activities and needs the beverage to help maintain fluid balance. Tea and coffee do not provide much calories. Water is featured to be the fundamental component of human body and is a daily necessity for consumers. ("The Beverage Institute", 2006)
The Coca-Cola products generally follow product line pricing strategies. The prices of its products are based on cost differences between products, their different features, and competitors' prices. Sometimes, the Coca-Cola Company boosts its sales by promotional pricing, which temporarily prices products below the list price, to increase short-run sales. In grocery stores, some Coca-Cola products are sold at product bundle pricing, offering a bundle of Coca-Cola products at a reduced price.
Coca-Cola products are distributed to over 200 countries around the world. Apart from distributing its products through retailers, like grocery stores, drug stores and convenient stores, the Coca-Cola Company also supplies its products to school canteens and restaurants. It is the coke supplier of McDonald's, a world-wide chain fastfood restaurant. ("The science", 1998) Besides, Coca-Cola products are also available in vending machines.
The marketing communication mix of Coca-Cola mainly consists of mass communication through non-personal channels, like, advertising and public relations. Coca-cola utilizes display media, for example, posters and billboards to carry messages. Its interactive website also serves as an online platform to its potential consumers. Coca-Cola is active in sponsoring sports events. It is the sponsor of the Olympic Games and has been the main sponsor of FIFA. It sponsors every FIFA World Cup and boosts its sales by themeing FIFA World Cup. For example, it has launched a football shaped diet coke bottle for FIFA World Cup in 2006. ("Coca-Cola", 2006) Apart from sponsoring sports events, the company also emphasizes a lot on corporate social responsibilities in recent years. It launches Upromise, which is a program to save up for college with Coca-Cola products. It also sponsors HIV/AIDS and environmental programs and generate reports to educate the public on these areas.
The major competitor of Coca-Cola is Pepsi-Cola. Many countries are their battlegrounds, although Coca-Cola is still the most popular soft drink in most countries. Virgin Cola and Classic Cola are also Coca-Cola's rivals, but their sales are far behind the two major brands. ("Cola wars", 2006) Apart from Pepsi-Cola, Coca-Cola also faces fierce competition from regional competitors, for example, Mecca-Cola in Europe and Middle East. ("Coca-Cola", 2006)
References
"Coca-Cola." Wikipedia, The Free Encyclopedia. 25 May 2006, 13:31 UTC. Wikimedia Foundation, Inc. 25 May 2006 .
"Cola wars." Wikipedia, The Free Encyclopedia. 17 May 2006, 06:05 UTC. Wikimedia Foundation, Inc. 25 May 2006 .
"Make Every Drop Count." The Coca-Cola Company. 2006. The Coca-Cola Company. 26 May 2006 "The science of alliance." The science of alliance. 2 April 1998. The Economist. 26 May 2006 .
"The Beverage Institute for Health & Wellness." The Beverage Institute for Health & Wellness. 2006. The Coca-Cola Company. 26 May 2006. "The Coca-Cola Company." The Coca-Cola Company. 27 February 2006. The Coca-Cola Company. 26 May 2006 Read More