Executive summary
This study will help to describe the background of Coca-Cola company and also its growth rate in the industry and also its market segmentation. On the same note, it gives some goals, missions and strategies that the company can adopt for its new digital business. On the other hand, it will analyze its background using PESTEL, and SWOT analysis of its business operations by showing the factors that are hindering the success of the company and how they can be overcome. The study will provide some reasons as to why customers should prefer the company. It gives an e-business strategy that the company can adopt, the digital marketing plan and how to implement the new e-business. The report concludes with a clear brief about the work.
Coca-Cola is a multinational company and so far, it has maintained its good reputation in the market. On the other hand, its operation is globally and it has attained be among the leaders in the market, especially in the beverage sector. The company gives products according to the preference of the customers making it remain strong and defeat the competitors easily. Therefore, investing in the company is beneficial compared to investing in other its rivals. This is because the company operate from a global perspective. On the same note, the revenues of the company have maintained to be high. On the same note, the company has shown great development and growth and has goals of acquiring more markets in the countries in which it does not operate making it more beneficial to invest in. Therefore, compared with other companies, Coca-Cola is better to invest in.
1 Introduction
Coca Cola Background
Coca-Cola company is a multinational company whose headquarters are located in Atlanta Georgia. The company is incorporated under Delaware’s General Corporation Law. The company’s interests are in marketing, retailing and manufacturing of non-alcohol syrups and concentrate and also alcoholic beverages. The company manufactured Coca-Cola in 1886, which is a sugary drink that the company is known for. John Stith Pemberton is the inventor of the sugary drink(Steele et al., 2019). The name Coca-Cola originated as John used the coca leaves and the kola nuts that give the caffein to give a stimulative effect.
In addition, the drink was healthy for the public, hence the name of the company and the product. Asa Griggs Candler incorporated the Coca-Cola company in Atlanta in 1892, after buying the company and the formula at $2,300 which is currently $71,000. Since 1892, the company’s operations are conducted through a franchised distribution system(Chua et al., 2020). The various syrup concentrates produced by the company are later sold across the world in different bottles. On the same note, the company owns Coca-Cola refreshments and anchor bottles in North America. The company is part of DJIA and is listed on NYSE, S and P 100 and S and P 500 indexes.
Coca-Cola market structure
Coca-Cola operates in an oligopoly market. The company has four operating segments. They are Asia Pacific, North America, Middle East and Africa and Europe. The company’s reporting structure also includes the Bottling investment group and Global ventures in the non-geographical segments(Serôdio et al., 2018).
Growth Rate
The resurgence in the sales of trademark coke beverages creates an added advantage to the consumer staples titan especially on the popular sodas with low sugar variants. Coca Cola makes an expansion of its Coca-Cola zero sugar in the North American Market by three-time the initial share. In addition, the company has volume growth in global terms in oca Cola beverages(Stuckler et al., 2018). The company has a long-term packaging architecture. The company plans to reduce the calories that the customers are taking and this makes the company increase the sparkling drinks sale even with the decline in the beverage calorie consumption. Lastly, the company’s growth is both in developing and developed countries. This is from the Asia Pacific areas to Europe, Africa and the Middle East. This shows that the company’s strategy of ‘lift and shift’ in brand transportation globally is giving effective results. Topo Choco Mineral water in the US has shown the strength of the company and has led the US to develop Fuze teas in Western Europe successfully(Bekimbetova et al., 2021). The company has compressed its time frame success from local brands to global audiences.
2 Mission, goals and business strategy
Mission
The company should have a good mission statement that the company uses as a guide to its operation. The company’s mission should bring inspiration and innovation to customers both potential and existing in the world. The mission should be aimed at the influence the company has on its operating sector(Kamariotou et al., 2021a). It states that the company’s mission is to turn and stimulate its products and services into the best in the market. It also inspires what the customers should be looking for. The mission has some components like; global presence, innovation and bringing inspiration. In the global element, the company makes sure that its presence is felt everywhere. As a diversification strategy, the company can use tactics by providing different products that target customers all over to meet the desire of the company’s components(Chen, 2020). Coca-Cola company should use the most engaging and creative minds and experts to ensure that all its products hit the best innovation before reaching the market. And lastly, the company inspires its customers by satisfying their needs with the best products and services.
Goals
Doing everything possible to expand human potential should be the goal of the company. It explains that the company uses all strategies without limiting itself to give the best to the customers in the world. It shows that it should not go for normal operations but the simple, dynamic and incredibly effective designs for the users. The goals should have three components which are; Expanding human potential by providing the best products and services to the people(Kwilinski et al., 2019). The other one is exceeding the expectations. The company should achieve its best in the market and exceed in the industry. The third is the improvement of lives as the company sponsors many people, especially the existing customers to retain them.
Strategy
The main strategy of the company is to manipulate the marketing mix and create a competitive strategy in the market. This way, the company can benefit in terms of sales. On the same note, the company offers a wide range of products and services and this has been a long time which makes the company strong in the market(Palmer, 2020). The price element of the market mix helps the company from differentiating itself from its competitors in the market. Every little help is the marketing strategy of Tesco and it follows the slogan to ensure that it follows on its small margins that will make it earn some good returns and have good savings and economies of scale from bulk purchases. The location of the company is easily accessible and substantial which makes it easy for customers to access the services of the company.
The company should have the best environmental and social responsibility and ethical activities for customers who like the company’s products that are sustainably complete and responsibly made. The company has a golden opportunity to expand its market to the newly affluent trillion-dollar consumers from different locations all over the world(Rahmadhani et al., 2022). The company can leverage its growing and huge consumer base which tries to mimic and try often the materials west of the consumer’s preferences. The company can seize the opportunity of the market segment using its existing due to the emergence of conscious consumers, especially in developed countries. The company can take the opportunity of the global media proliferation and globalization as the customers in the existing markets inspires the western lifestyle(Sanaei at el., 2018). This is a great opportunity for the company to diversify and enlarge the consumer base to join the western lifestyle and identify their preferences and taste for the consumers.
The company can improve its logistic and transportation management by adopting the latest technical development in the sector. This will help to improve the company’s logistics and transportation as it is an important part of the TQM and also the company’s supply chain management. The company faces problems due to the transportation of different products all over the world. It faces the problem of how to cut down the expenses in the transportation network and maintain efficiency. The company should adopt Just in time and quality control methods to help solve the issues.
Continuous improvements are a challenge in many organizations due to a lack of innovations and skills to help improve their operations. Coca Cola company can show some improvements since its formation and this makes the company compete well in the market and remain in the leadership position the market. The company should ensure that the employees are well skilled and in addition provides continuous skills that will help to improve the operation(Jelassi at el., 2020). The company should ensure to use and apply technology in its operation. For, example, In the world today many operations are carried out using smartphones and computers. This is a challenge as the company has to adopt that as a strategy and implement it to also increase its market share. In addition, Coca-Cola company can employ the best systems and standards to ensure that the quality is maintained and achieves more than they are achieving(Maani Hessari et al., 2019).
3 Industry and business environment Background
PESTEL Analysis
This is a strategic tool that helps to understand the external environment of Coca-Cola from another perspective.
Political factors help to determine the profitability of the company in a particular country or market. Different countries vary in terms of operations therefore the company has to consider some factors before joining the market like; Taxation, pricing regulations, political stability, the importance of beverages in the country’s drink sector, corruption and other factors(Senay et al., 2022). Economic factors help Coca-Cola to determine the investment aggregate and demand aggregate. The company should take the opportunity of a country’s economic factors like industry economic indicators, inflation, growth rate consumer spending and other factors to foresee the growth trajectory for the products and the whole organization. Coca-Cola company management should consider evaluating social factors like; education, demographics, cultural attitude, and entrepreneurial spirit that will help the company to understand customers of a given market.
Source: (Bentham, 2018)
Technology is highly developing in the current world. The company should not only consider analyzing the technology but also the disruptions its causing in the industry on value chain structure, prices and product offerings. Different markets have different environmental concerns. Coca-Cola should analyze; weather, recycling, climate change, air and pollution, waste management, and environmental laws among others within the marketing before operating in those markets.
SWOT Analysis
Strength- Coca-Cola has dominated the market share in the beverage sector. The company is the largest non-alcoholic beverage company worldwide. PepsiCo and Nestle S.A are the main competitors of the company. However, Coca-Cola has some added advantage that helps the company win over its competitors. Coca-Cola enjoys economies of scale by serving its products globally at a cheap price(Sohn, 2018). The company has market power over its competitors whore are PepsiCo and Nestle and over suppliers. In addition, compared to its competitors the company enjoys a wide audience reach and also the power over the buyers through its enormous brand recognition. In the same way, the company’s strength is built on the diversification of its product portfolio. The company’s brands include; bottled water, energy drinks, sports drinks, carbonated soft drinks and others. In addition, the company has great opportunities like; introducing new products in the market, having an advanced supply chain system, increasing its presence in the developing nations, acquiring more acquisitions and providing packaged water.
Source: (Joston M, 2019)
On the other hand, the company has some threats and weaknesses that they need to minimize and work on to remain the strong leader in the beverage market. Coca-Cola has low product diversification and its products create health concerns due to high sugar intake. Also, PepsiCo is the main competitor of the company and it makes it hard for the company to remain the leader in the sector due to the stiff competition(Soegoto at el., 2018). The company has also been accused of wrongdoing and causing environmental pollution from carbon emissions and plastic bottles. In addition, competitors like Starbucks give the company indirect competition. There is also uncertainty in the economy that affects the company greatly like the COVID-19 pandemic which impacted the company is having many losses.
4 Value Proposition and business model
The resources and the capabilities of a company are what makes it different and most preferred by the customers. Therefore, VRIO models describe the capabilities that the company can adopt to gain more customers and their loyalty.
Valuable- Coca-Cola company should ensure its resources are valuable to its operations. Some of the valuable resources that the company should consider are operational management, marketing expertise, human resources and financial resources(Nair et al., 2021).
Rare- The company should be able to identify if its valuable resources are rare or can be attained in easily or costly. If they are not rare then both present new entrants and competitors will get access to them easily and penetrate the competitive field.
Source:(Barney J, 2020)
Imitation- it’s costly to imitate a brand. Many companies get disruption and threats from imitations. Coca-Cola company takes it difficult to imitate a product. Imitation of Coca-Cola’s products can occur if the suppliers come up with substitutes to interrupt the company’s market structure and if the competitors duplicate the company’s products(Thorne McAlister, 2021).
An organization should use its capabilities and competencies to utilize the resources effectively and efficiently. It shows how the company’s capability in value and difficulty and rare to imitate the products in the market. Exploitation level analysis of a company can be done if the company can exploit its resources fully and if the exploitation level is dependent(Tada at el., 2021).
Pricing strategy
Coca-Cola can defeat its rivals; PepsiCo and Nestle due to its competing strategies which are superior and makes the company remain the leader in the market. Coca-Cola uses a competitive pricing strategy and differentiation to maintain its competitiveness in the market, and maintain value awareness, consumer loyalty and brand awareness over its competitors PepsiCo and Nestle(Zhavoronkova et al., 2020). The company targets the consumer of the country and sets its pricing level in a way no other competitor can afford. This helps the company defeat its rivals and remain the leader in the market. On the same note, the company charges the same price as its competitors.
5 E-business strategy
Decision 1: E-business channel priorities
In the new digital business, the company has different options to use in channelling its products and services and it should prioritize the best ones in its operations. Some of these channels are; Search engines, online marketplaces, social media, affiliate networks, content marketing, and email marketing(Bala at el., 2018). All these are the top channels for a company to use for marketing its services and products. Therefore, it’s the decision of the company on which ones to use or if to adopt all the channels.
Decision 2: Market and product development
Product development is a strategy that a company uses focusing on the development of new products in the existing markets and on the other hand, product development is introducing new products into new market segments(Hanafizadeh at el., 2018). Both strategies are different and the company should consider which is the best according to their operations and make the right decision. The strategies help to describe the opportunities of a company to enhance growth and expansion.
Decision 3: Positioning and differentiation strategies
Position and differentiation strategies are different and they depend on what the company is focusing on whether promoting or managing the company’s services and products and with what intentions of getting space in the customer’s mind on the company’s brand or offering good and unique services and product which has few substitutes(Kotusev et al., 2020). Therefore, the company should ensure that the differentiation and positioning strategies should be communicated to the customers to have the planned results.
Decision 4: Supply chain management capabilities
There are several supply chain capabilities that every business requires. Some of these capabilities are; Capacity planning, inventory management and optimization, material replenishment planning, master production planning scheduling, demand management and others. Material replenishment planning involves storing materials in buffers. Master production scheduling involves controlling and arranging workloads in the manufacturing process(Ahokangas, 2020). Demand management is managing and planning the demand for services and products. Inventory management is used for investment priorities and capacity planning for resource utilization. Therefore, it’s the role of the company to decide the supply chain capabilities to employ.
Decision 5: Business and revenues Models
Business models highlight how the company generates its value and on the other hand, revenue models show how the company generates its revenues from the customer’s value(Fomina, 2020). Therefore, this shows that the revenue model is very important for the business model of a company. It should be highly preferred and considered when making decisions.
6 Digital Marketing Plan
Digital marketing plans involve some e-marketing activities to achieve the objectives. Some of the e-marketing activities are;
Business branding
This is among the key eMarketing activities that Coca-Cola can employ. This is done by using some aspects like objects, font, and color scheme in the company’s logo. This will help to create a certain picture in the minds of the customers. It will all make the brand a household name in the public(Parks, 2020). It’s hard for a company to make a good reputation in the market without making its brand unique. Branding matters a lot for the company’s success and survival in the market. Coca-Cola can apply the branding of the company through; making the brand unique, evoking inimitable qualities, and brainstorming objects. Also, should consider the customer’s reaction to different types of branding(Saura et al., 2019).
Pay-per-click advertising
This is another e-marketing activity for Coca-Cola to use. This is used for any website marketing plan. It helps a company to sell more services and products and also to gain more potential customers. This kind of advertising helps a company to advertise on websites, social media and search engines. A company will pay every time the customer clicks the advert(De Pelsmacker et al., 2018). Its cost-efficient e-marketing strategy. Coca-Cola company can apply pay per click method by using the keywords collected in the content strategy and using them as ads(Li et al., 2022). Also, by creating ads as they say what the customers need and want.
Content Creating
Content creation is the best marketing strategy for websites as it’s at the top of the list. Fantastic content helps the company’s website to be ranked by google and customers can find the site easily. It’s the perfect strategy to implement target keywords after every performance. A company should base the content on the target keywords as it helps to attract more potential customers and make them more aware of the services and the products that the company offers(Kamariotou et al., 2021b). Therefore, for Coca Cola to have good content marketing, The company should; create various content, brainstorm the interest of the customers and the offering of the company, create content often through the double dip and utilize more platforms.
Optimization of search engines
Search engines are one of the most important e-marketing strategies for a company to consider. It’s easy to beat a competitor and gain more customers using search engines(Habel et al., 2021). This will make the company have more sales and revenues. Search engine optimization helps the website of the company to be ranked top. User experience, backlinking, and keyword research are some of the strategies associated with search engine optimization(Eghtesadifard et al., 2020). For a company like Coca Cola to have effective Search engine optimization, the company should; have keyword research, internal linking, and page speed optimization.
7 Implementation
Implementation requires 7 steps for effective implementation.
Strategic business planning and roadmaps
Having a good strategy is by making the right choices for better performance of the business that will help the company reach and achieve its objectives. Therefore, a clear mission, objectives, and vision should be made on how to achieve the goals, how much time and the budget for the operations, ensuring the right resources are available before execution of the strategy and consider the roadmap as the elements in the business plan(Kato, 2021). Digital marketing techniques and tools help to acquire and reach more customers.
Technology
A company should ensure that they customize the use of technology in their operation for better implementation of the new digital business. This will create more benefits for the end consumer. On the same note, the company should consider some aspects of the website carefully to target the right audience and segment its products effectively(Soegoto et al., 2018b). Examining the customer flow and store forefront are some of the things that will make the company acquire rewards from e-commerce more quickly than other companies.
Customer acquisition
There are many tools that a company may use in digital marketing to reach the customer’s ell and widely. The application of multiple devices is very effective in reaching customers like; paid advertisements like pay-per-click, search engine optimization, social media marketing, display advertisements, email campaigns, referral programs, use of networks and retargeting campaigns(Chi et al., 2018). On the same note, it’s good to use sale principles which include; awareness, interest, desire and action. Customer acquisition s is not cheap for businesses that are new in the market and want to make offers online.
Customer engagement
In the current world, customers are looking for brands and products that are different from one another in the market. On the same note, they are keenly looking after the value proposition that a brand offers compared to the substitutes in the industry(Al-Omoush et al., 2020). On the other hand, brands that offer discount and promotions during special seasons has high customer engagement. Customers also look after the engagement of the product with other customers and the robust support mechanism that it offers.
Customer retention
New-age retailers and manufacturers can make some leverages through customer experience through e-commerce technologies(Jelassi et al., 2020b). This is what most customers want from a company. To leverage full technology, a company should have constant efforts to enhance a better customer experience through new functionalities and features.
Optimization based on the key metrics
A company can measure its metrics using the % of the customers entering using the website using different channels, % of customers converted, cost of acquisition, and total revenue of the company(Chandrayanti, 2022). These metrics vary according to the objectives of a company and each should use a customized approach and a full analysis of the key metrics.
Business analysis
This is the final step of implementing a new e-business and it’s about understanding the categories of a product and fine-tuning compared worth other items on the website. This is not easy to assess and each category of the product has prime real estate. Therefore, it should have a clear understanding of the demographics, segments, source of channels and profitable customers. Also, the metrics require a customized approach for optimization, monitoring, and defining business needs.
8 Conclusion
The study helps to describe the background of Coca-Cola company and also its growth rate and market segmentation. On the same note, it gives some goals, missions and strategies that the company can adopt for new digital business. On the other hand, to analyse its background using PESTEL, SWOT analysis of its business operations. The study provides some reasons as to why customers should prefer the company. It gives an e-business strategy that the company can adopt, the digital marketing plan and how to implement the new e-business.
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Appendices
Appendix 1
Source: (Ceasar, 2021)
Appendix 2
Source: (Moon, 2021)
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