After carrying out my research, I realized that Coca-Cola dominates the international market thanks to its well-set brand; its dominance renders every other corporation appear to be insignificant in comparison. To begin, it is clear that the identity of the Coca-Cola brand remains constant and is immediately recognized at all times. The bottles that contain Coca-Cola are themselves protected by a registered trademark. You can therefore anticipate that they will be distinguished by a powerful visual identity; in addition, the product’s red hue stands out when contrasted with the black liquid because of how the two colours complement each other. You will never have to wonder whether or not you are getting a bottle of Coca-Cola or some other beverage when you do business in this manner. It is also important to point out that Coca-Cola has an excellent sense of design, which is another aspect of its branding that ought to be acknowledged. They are so inventive that they are able to get all of the attention, which in turn enables them to make sure that everybody remembers their firm! For instance, there is the tactic of including personalized names on the bottle that was once used by the firm. I think we all found that strategy to be shocking and motivational enough. That’s the advantage they have! In spite of this, they are also quite good at branding their products by shifting the focus of marketing by making their goods more accessible in the local market. I mean, even just looking at their advertisements, which make an effort to be sensitive to many cultures, will be sufficient to make you feel at ease and at home.
Secondly, based on the firm’s brand, we discover that the expansiveness of Coca-Cola’s targeting approach is due not only to the company’s global position in the industry but also to the variety of products on offer the company. Besides, it is essential to meet the needs of a wide variety of customers, especially those who are especially mindful of their health. Coca-Cola directs most of its marketing efforts toward consumers 10 to 25 years old, with those in their 25s and 40s constituting a secondary market for the company’s products. Additionally, the company caters to the part of the market that is looking for a more satisfying experience from their usual cola beverages. This area of the market is one that the company caters to in terms of flavour. In the meantime, clients who have concerns for their health are targeted with advertisements for diet drinks and the different iterations of these beverages. The Coca-Cola corporation has also expanded its range of goods to encompass liquids that lack cola to reach out to clients who do not like drinking traditional cola drinks. Some of Coca-Cola’s beverages, such as Sprite, are predominantly promoted toward young people in their twenties who are enrolled in college. Other Coca-Cola products, on the other hand, are sold to individuals in their twenties who have only recently started their careers.
It is also important to point out that so far, the Coca-Cola company has done a great job in ensuring that its products are distributed in plenty of countries all over the globe. In addition to that, Coca-Cola’s market segmentation approach lays a high value on geographical, socioeconomic, psychographic, and behavioural aspects of the market. This strategy was developed in order to target specific consumer groups better. Coca-Cola may have originated in the USA, but throughout every phase of its existence, the firm has expanded its market share to encompass many countries located across the globe. And despite this high level of expansion, the company has still managed to establish and maintain its top-quality products and services across its entire markets while keeping in mind the various ways these markets are distinct from each other. To reach the markets more effectively, coca-cola will have to maintain this culture where products and services are modified to fit the values, norms and legal requirements of the respective regions they are serving.
In the meantime, Coca-Cola’s population segmentation is being further split into smaller sub-segments according to a range of criteria, including age, profession, socioeconomic status, and nation. These factors are often considered when classifying customers into the many categories Coca-Cola serves to better serve their needs. To improve its reach to the target market, Coca-Cola’s method of market segmentation will have to include a psychographic component, which will separate customers into numerous categories based on factors such as their beliefs, traits, and lifestyles. This component is an important part of the overall strategy since different beliefs and individual personalities will determine the kind of product they consume from the firm. Another factor to look into is Coca-Cola’s marketing segmentation strategy which is brought full circle with its utilization of the behavioural feature as a dividing factor. In a broad sense, the emphasis should be on the consumers’ comprehension of, reactions to, and attitudes in relation to the items that the firm makes available to them. When it pertains to designing market segmentation strategies, plenty of marketers believe that behavioural characteristics are very important beginning points to explore.
References
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