Introduction
There has been a considerable shift in market approaches traditionally utilized by various international as well as local companies to what is now being referred to as high-end marketing. This has arisen due to a variety of factors including but not limited to competition, increased innovation, and technological changes in overall marketing and changing consumer preferences and / or needs. These changes, along with others, have made some companies face stiff competition to a point of even forming partnerships with new and innovation-based companies. Globally established companies like Coca Cola and PepsiCo have already set themselves up and geared their marketing approaches and strategies to face any form of interior and/or exterior competition or further advancements in technology that might act to threaten their very existence.
Strategic approach
Of particular importance is the Coca Cola Company which is well known for its marketing expertise and great marketing strategies which have been responsible over the years for of the company. In essence, the biggest strength of the company is its brand. It has really taken them enormous effort and strategizing to become who they are currently. The company has continually been focused on better branding in order to remain top notch. Indeed, as Harley (2008) puts it, a brand is “a promise of satisfaction and emphasis that good branding reinforces reputation generates loyalty and assures quality.” This is clearly evident from the strategies that Coca Cola has taken. The brand is currently very widely known and the majority player in the non-alcoholic beverages sector. This has resulted from sustained and very innovative marketing techniques, including their recent focus on organizations and colleges which has earmarked them for success through brand promotion and increased sales.
Another strategy peculiar to the company is the global strategy that they have so well utilized from their strong organizational capability. Referring to Gay et al. (2007), one notes that Coca Cola have utilized a combination of central as well as local “marketing functions in order to achieve [maximal] marketing and distribution effectiveness. According to him, “Coca Cola maintains the strong global brand while introducing the local elements in the marketing to make sure that the product image is in harmony with the local culture” (Gay et al., 2007).
Despite their arguments, however, certain aspects arise regarding the above strategies and their long-term capability to remain uneroded. In fact, certain weaknesses have arisen out of their marketing strategies that may prove detrimental in the future if unsolved or unchecked. Despite their major focus towards marketing resources, there have been serious questions on the health status of their beverages from some quotas, with the trend currently being towards healthier drinks. Their marketing strategy seems to have dominated their commitment to the development of healthier products. As much as Healey (2008) tries to argue that a brand is a promise of satisfaction and emphasis, the brand ought to generate loyalty and at the same time assure the quality. On the quality aspects of the product, Coca Cola seems to have been left aback.
Also of particular interest is the strategy to beat competition from their major competitors. Majorly, there seems to be success in the implementation of the strategy (ies) in all regions but one; the North American region. Mostly, PepsiCo dominates this market. Despite their global organization and brand presence globally, it seems that still more has to be done to their strategy to enable them penetrate such crucial regions as North America.
Conclusion
The Coca Cola Company has asserted itself as a global partner in the non-alcoholic beverages sector. It has rightfully done so through well-thought out strategies of marketing that has kept it at the fore front of virtually any competition and threat of being surpassed.
However, with the current change in trends globally, some of the techniques utilized by the company may no longer be of importance in coming years despite their strength for a century. As important as their marketing and marketing strategies seem to be, a review of their marketing culture is imminent, especially with new entrants threatening to get on board.
References
http://www.assignmentsbox.co.uk/wp-content/uploads/2011/10/The-Coca-Cola-Company-Marketing-Strategy.pdf
[Accessed on 08th March, 2014]
