Coca-cola is one of the most sipped carbonated beverages around the world. Introduced around 136 years ago, Coca-cola has been striving to engage customers effectively through its robust marketing strategies. Moreover, these marketing strategies of Coca-cola have been helping the brand do around 1.9 million servings daily that span around 200+ countries. In this article, we will cover the marketing mix of coca-cola and, further, the updated marketing strategies for 2023.
Coca-Cola Marketing Mix
The marketing mix of coca-cola, or its business model, focuses on traditional marketing techniques like Product, place, pricing, and promotion. Further, since the target audience is between 10 and 35, they can attract more audiences by using celebrities in their advertisements. And coca-cola marketing mix has helped the brand to achieve a wider audience.
Moreover, the marketing mix of coca-cola is also one of the main reasons behind its international reach and the brand’s widespread popularity. Let us break down the marketing strategies of coca-cola.
Coca-Cola Promotion Strategy
The diversified product list of Coca-cola is what makes the brand the most successful carbonated drink across the globe. Further, the brand portfolio of coca-cola consists of more than 500+ sparkling and still drinks. And the coca-cola promotion strategy is what has made the brand the most valuable brand in the world.
Moreover, from coca-cola to coca-cola zero, each of its flagship brands utilizes both traditional and international mediums for promoting their brand. Furthermore, there are more than 3,900 beverage options regarding Coca-Cola’s product mix. The Logo and its font are some classic examples that prove Coca-cola is a global household name.
See Also: What Are The Major Marketing Strategy Elements?
4Ps Of Marketing Example Coca-Cola
The 4Ps of the marketing example of Coca-cola is divided into four categories like Product, price, place, and promotion. Let us learn in detail:
Coca-cola boasts an extensive product portfolio and globally popular brands like Sprite, Fanta, Diet coke, coca-cola zero, and more. And each flagship brand has become a global household name. Moreover, bringing in diet coke and zero ensures maximum health while enjoying the drink’s taste.
So, the strategy of combining classic refreshments with healthy ingredients. Hence, we can buy any flagship brand of Coca-cola or the carbonated beverage brand itself in different quantities as per our needs.
Another marketing example of coca-cola is its pricing. The brand follows discriminated pricing techniques, which means costs differ for each flagship brand of Coca-cola. Moreover, keeping in mind its customers’ views, it ensures that the pricing of the brand and its flagship brands are reasonable. And what’s more! The price parity of Coca-cola and Pepsi is always consistent.
Further, there are bulk purchasing options with discounts. So, the pricing of the brand has made Coca-cola one of the most potent brands apart from its contemporary brand- Pepsi.
The third and the most influential marketing strategies and their examples are that of the place or location and its distribution strategy. The distribution network of Coca-cola is vast, spanning six regions; North America, Latin America, Africa, Europe, the Pacific, and Eurasia. Moreover, Coca-Cola’s bottling partners also focus on manufacturing, packaging, and shipping to different agents.
Further, they also have a reverse supply chain network wherein they enable the reuse of leftover bottles to save the making costs and resources.
As mentioned previously, the promotion strategies of Coca-cola are something that has influenced the growth of the brand globally. The aggressive marketing strategy of Coca-cola has helped promote its product lines through ad campaigns across different mediums or channels like television, social media, print media, and sponsorships like NASCAR, NBA, Olympics, Fifa world cup, and more.
The classic Logo, its font, and more helps in differentiating Coca-cola and its flagship brands from its competitors. And further ensures an imprint of the brand in the minds of the consumers.
Coca-Cola’s -Marketing Mix (mind map) For The Four Ps
If you consider the thorough overview above, the 4Ps of Coca-Cola marketing can be undoubtedly daunting. A mind map, however, can be used to condense the parts. This allows users to categorize each element of the marketing mix for easier understanding. View the EdrawMind sample provided below.
Marketing Mix Of Coca-Cola That Marketers Can Try
Most marketers can learn from the marketing mix of Coca-cola and try them. What tips can they follow? Let’s learn in detail:
Brand Identity Is Essential
One of the important factors that helped Coke-cola build its reputation is its consistent brand identity. Moreover, the consistent brand identity with a unique logo, color palette, typography, photography, and more have helped Coke-cola become a successful brand. So marketers should ensure that they maintain a solid brand identity.
Give Priority To Product Quality
Another critical factor that has influenced the growth of Coca-cola is its product quality. Moreover, the product-centric campaigns of the brand have helped them increase its customer trust and brand loyalty. And the effectiveness of its strategy of prioritizing the quality of its products has helped Coca-cola to climb the ladders of success.
Competitive Pricing Strategy
Coca-cola has grown its popularity over the years due to its competitive pricing strategies. By providing many free samples on its founding day and consistently low pricing, Coca-cola has attracted millions of loyal customers. Another pricing strategy is short-term discounts; the more discounts, the more the brand achieves in terms of customers. Hence, if we adopt these pricing strategies for our brand, nothing can stop us from becoming successful.
Explore New Markets Across The Globe
As a commercial carbonated beverage brand, Coca-cola has been willing to explore new markets. Further, it is one of the contributing factors to their success.
Moreover, it has expanded its production over different global markets. Thus, while marketing our brand, ensure that we know niche audiences and try allocating resources towards it.
Exceptional Reactive PR
The Final and most successful marketing strategy of Coca-cola that we can try is reactive PR. Moreover, it has maintained its global response by actively responding to customer reviews. Further, this coca-cola strategy has helped them be the most outstanding brand and maintain the brand in a positive light.
Key Takeaways From Coca-Cola’s Marketing Mix
Looking at the Coca-Cola marketing mix, it seems a little odd that the corporation does not have a lot of channels for its brand. That’s how the soda business often operates. They collaborate with international bottlers to package and distribute their products rather than investing a good amount of money in a physical store. Because of this, those approved bottlers will work with their clients to sell Coca-products Cola’s to end users.
- It’s possible that not all firms, especially start-ups, can use Coca-positioning Cola’s distribution strategies. However, one’s marketing plan might be created with the aid of additional principles and elements from its marketing mix.
- Use a basic mind-mapping tool to arrange the inputs and components of your marketing strategy. You can easily move through contemporary diagramming software with EdrawMind thanks to its user-friendly interface. If mind maps are new to you, the pre-built 4Ps of the Marketing Template will serve as your guide while you construct your framework. Because of its adaptability, you can make and change your diagrams online or by downloading the software to your computer.
- Assuming you are working on the marketing strategy as a team, EdrawMind also supports team communication, allowing members to offer comments, edit the diagram, and make ideas. All a team member needs to access and edit the mind map you developed is the link to the project and a few permissions.
4Ps of Marketing Cons and S.A.V.E. Model
In actuality, not every company is successful in using the 4P paradigm in marketing. In addition, this model has undergone numerous modifications since the 4P was first released in the 1960s. Many individuals question if this approach is still relevant in light of the current changes.
More than 500 levels of management and visitors representing various businesses in the B2B market participated in a 5-year Harvard Business Review research to evaluate the 4P model.
Coca-Cola In Foreign Locations
More than 200 nations and territories provide Coca-Cola products. Coca-Cola has an extensive distribution network thanks to its more than 135 years in business. Its six operational regions are as follows: Latin America, Eurasia, Europe, North America, and the Pacific. As was already said, Coca-Cola relies on its bottling partners for the packaging and distribution of its products.
The following visualization displays the market share of the top American manufacturers of carbonated soft drinks. Coca-Cola has consistently been the market leader.
After the bottlers have finished the packaging (which has been predetermined by the Company), the bottles are delivered to the stockists, distributors, and retailers, from whom the ultimate consumers purchase the product. Coca-Cola has a widespread distribution network. Around 2.6 million retail locations sell Coca-Cola products in India.
With its reverse supply chain, Coca-Cola collects discarded glass bottles from shops and turns them into reusable goods, saving money and other resources.
Frequently Asked Questions
What is Coca-Cola's current marketing strategy?
Coca-cola currently follows aggressive marketing strategies by promoting its flagship brands through ad campaigns across multiple channels and mediums like TV, social media, and sponsorships like the Fifa world cup, NBA, the Olympics, and more.
What are the three key strategies of Coca-cola?
Targeting emotions, maintaining the message, and not forcing the audience to change too much are the three key strategies of Coca-cola.
What are the 4Ps of the marketing strategies for Coca-cola?
Product, price, place, and promotion are the 4Ps of Marketing strategies for Coca-cola.
On the whole, the complete marketing strategy of coca-cola gives us an idea about the beautiful journey of the brand and how it intends to mark its brand in the minds of people in the future.