Product Sales History
Coca-Cola,
with its 3,500 products, is the world leader among soft drinks with a 44
percent market share. Approximately 1.8 billion bottles of coke are sold every
day and 10,450 Coca-Cola brand drinks are consumed every second, bringing in a
total Annual Revenue of $47.51 billion.
Coca-Cola
was originally created by Pharmacist Dr. John Styth Pemberton in 1886. Only 25
bottles were sold its first year. Coca-Cola was incorporated in 1892. Three
years later, in 1895 it was sold in every U.S. state. By 1916 Coca-Cola was
being sold in Cuba, Jamaica, Bermuda, Puerto Rico, England, France, Germany,
and the Philippines. Today, Coca-Cola products are sold in 200 countries worldwide.
For
decades Coca-Cola was hesitant to extend its trade mark to other products,
however, in the 1980’s with consumers gravitating toward low calorie beverages,
Coca-Cola created Diet Coke. Released in 1982, Diet Coke was the first new
trade mark brand for Coca-Cola since 1886. Today, Diet Coke holds a 17 percent
market share and is considered the number two beverage. The next extension of
the Coke trade mark came in 1985 with the release of Cherry Coke.
In
2016, Coca-Cola had six brands listed as the most valuable soft drink brands
worldwide. Coke topped the list with a brand value of $67,749 million. Diet
Coke came in second with a worldwide brand value of $12,565 million. Fanta was
ranked seventh, with a $5,637 million value, Sprite was in the tenth spot with
$5,236 million, Dr. Pepper was in the thirteenth spot at $2,687 million, and
Minute Made was ranked in the fourteenth spot with a worldwide market value of
$2,644 million.
Although
the Coca-Cola Company has seen slowly declining sales consistently since 2012,
this decline can be reversed with the introduction of new products and
marketing focus on other strong brands within the company.
Current Marketing Objective
Currently,
Coca-Cola’s current marketing objective is to increase sales by bringing the
brand closer to the consumer on an emotional level. To accomplish this, Coca-
Cola has launched a new marketing strategy called “Taste the feeling.” This
campaign, through a one brand approach, will be extending the iconic appeal of
Coke to the other trade mark brands such as Diet Coke, Coke Zero, and Coke
Life.
The
objective of the “Taste the feeling” campaign will show the correlation between
the product and how it makes everyday moments more special, by displaying both
the functional and emotional aspects of the brand experience. Through T.V. Commercials,
print ads, and digital storytelling, The Coca- Cola Company will be aiming to remind
their consumers about why they love the brand.
Media Expenditure
In
2016, Coca- Cola had a total advertising budget of four billion dollars.
Television advertisements make up the bulk of this budget with spending at $1.9
billion. However, Coca-Cola has recently discovered that mobile video offers a
much higher return on investment. In order to drive profit, the Coca-Cola Company
has started investing 15 percent of their advertising budget into creating
mobile videos.
Said, S. (2013, October 04). Top 10 Most Popular Coca-Cola
Products. Retrieved April 10, 2017, from http://www.therichest.com/rich-list/most-popular/top-10-most-popular-coca-cola-products
All Products Require an Annual
Contract. Prices Do Not Include Sales Tax
(New York Residents Only). The Reduced Price / Month Applies
to. "Soft Drink Brands: Brand Value of Top Selling Brands 2016." Statista.
N.p., n.d. Web. 10 Apr. 2017
Works Cited
The
Coca-Cola Company facts, information, pictures | Encyclopedia.com articles
about The Coca-Cola Company. (n.d.). Retrieved from
http://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/businesses-and-occupations/coca-cola-company
Coca-Cola Company Statistics – Statistic Brain. (n.d.).
Retrieved from http://www.statisticbrain.com/coca-cola-company-statistics/
Coca-Cola
Announces New 'One Brand' Marketing Strategy and Global Campaign: The Coca-Cola
Company. (n.d.). Retrieved from
http://www.coca-colacompany.com/stories/taste-the-feeling-launch
Higher
mobile budgets correlate to higher revenue, says Coca-Cola exec | Mobile
Marketer. (n.d.). Retrieved from
http://www.mobilemarketer.com/ex/mobilemarketer/cms/news/strategy/21378.html
Trefis
Team. (n.d.). Coca-Cola's Advertising an Marketing Efforts Are Helping It To
Stay On top. Retrieved from
https://www.forbes.com/sites/greatspeculations/2016/09/26/coca-colas-advertising-and-marketing-efforts-are-helping-it-to-stay-on-top/#697f77db28d7
How
much money does Coca-Cola spend on advertising? | Reference.com. (n.d.).
Retrieved from
https://www.reference.com/business-finance/much-money-coca-cola-spend-advertising-3a784e6f8afc231b
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