The stiff competition that exists in the industries requires that different strategies are taken that are aimed at increasing the profitability of the business. Coca-Cola Company has been on the rise beating competition from most of its rivals. The company uses marketing strategies to be able to attract more customers and be able to overcome the stiff competition. With the right marketing strategies, a company can increase its profits and hence increase its growth especially for a multinational corporation such as Coca-Cola. Therefore, each time a particular strategy does not bring the best results, a strategic shift is always important to be able to ensure that the company performance is not affected.
Major Strategic Shift in Coca-Cola
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A strategic shift can be said to be a change in the business or the marketing plan that an organization carries out in order to achieve the particular objectives. The mission of the company is to refresh the world while inspiring moments of happiness and optimism to make a difference and create value (Baah & Bohaker, 2015). To be able to refresh the world, the company is required to be active in the production of high-quality beverages that meet the customer needs. Production alone, however, does not guarantee that the corporation will be able to provide refreshment in the entire world. It is required that the company adopts some strategies that will be of help in achieving this objective. One of these strategies is, for example, adopting a marketing strategy that can identify the beverage with the needs of people. By adopting the “Taste the Feeling” slogan, the customers can link the advertisements with the Coca-Cola drink and as such enable the company to be able to reach one of their visions of maximizing profits.
Impact on HR strategy
Human resource strategy can be defined as the completion of the business responsibilities in regards to the goals, mission and future endeavors of the company. The Coca-Cola Company has its future endeavors and achievements set at becoming a leader in the beverage industry with the fulfillment of the customer needs. Adopting the strategy of one brand
In order to develop a human resource strategy; there must be a linkage of the entire human resource function with the firm’s business strategy in order to improve business strategy execution. The first recommendation
Coca Cola was born in the laboratory of Dr. John Pemberton in May 1886 in Atlanta, Georgia. Coca-Cola's own name was made by Frank Robinson. And marketed for the first time with an ad of banners with the inscription of oil paints labeled "drink Coca Cola". Although it was the title of "brand of the century", Frank Robison had experienced a loss in sales. Coca Cola formula then bought by Asa Chandler in 1892 that heavily promoting senhingga experiencing huge profits. Coca cola increasingly global sales thanks to independent bottling firms with licenses to other countries and this is maintained until now.
Globalization – the intensification of human interaction (Guest, 18), continues to remain a key facet towards growing economies, improving international relations and influencing new opportunities. Although global expansion is seemingly brand-new within contemporary society, such interaction is not a recent practice, but rather has been performed and cultivated for centuries past. To analyze the power of globalization, through a narrow lens, one could look at the consummation/production of Coca-Cola and a chocolate bar. By interpreting a single bottle of ‘Coke’, much can be revealed about its impact, both negative and positive, on the consumer and the environment of the country where it is produced; Plachimada. Furthermore, through that same context, looking at, a single chocolate bar can further lay bare the dominance and crisp realized influence that a small, subjectively delicious, object has on the issue of stratification, and its relation to power, on the rest of the world; that being, countries where these products are forcefully composed in.
One of the company’s most popular jingles was known as “I want to buy the world a
The multinational company that I have chosen is Coca Cola Company since it is a very popular brand and has been serving its customers for more then 10 decades and even after so many years its popularity seems to be increasing day by day which itself speaks about the company's remarkable performance. The Coca Cola Company is an American multinational corporation and manufacturer, retailer and marketer of the nonalcoholic beverage concentrates and syrups (Wright, 1999). It came into existence in 1886 and was invented in Columbus, Georgia by John Stith Pemberton. The current statistics of the company shows that it is currently operating in over 200 countries offering its customers over 500 brands with each day serving of more then 1.7 billion (Charles W. L. Hill, Essentials of Strategic Management, 2012). .Further more the Coca Cola Company is alone responsible for the 78% of the total gallon sales of all the beverages sold worldwide. The company is listed in New York Sock Exchange and is very popular in most of the countries especially United States of America, which alone consumes 47% of the total gallons, sold worldwide (Zurkuhlen & Meeker, 1987). The company headquarter is located in Atlanta, Georgia, United States of America and its current chief executive and chairman is Muhtar Kent (Charles W. L. Hill, Strategic Management Theory: An Integrated Approach, 2012).
Coco-Cola Company’s had concerns with the effectiveness of their human resource strategy. The first is their human resources obtaining their corporate strategy objectives. Coco-Cola evaluates the impact of their human resource managers ' capabilities on human resource management effectiveness, also the impact on corporate strategy. Their effectiveness is associated with capabilities and attributes of the staff. Effectiveness and productivity, cash flow, and market value has a relationship with human resource. Coco-Cola also had to address the issue of maintaining their workforce. They must create a culture so that employees are not fleeing the company and stay with them (The Human Resource Issues Faced By Coca Cola, 2015).
In economics, competition is where rivalry is portrayed in terms of achieving the goal such as increasing profits, market share and sales capacity by varying the elements in general marketing, products, prices, distribution and promotion. The microeconomic theory differentiates between perfect competition and imperfect competition, summarizing that no system of resource allocation is much more efficient than perfect competition.
Shopper shifts toward being more wellbeing cognizant have influenced the drink part the most unsafe one for an organization that has customarily harvested the greater part of its volume and benefit from the chestnut fizzy beverage is the way that the country is turned out to be more wellbeing and weight-cognizant (O'Neill, 2015).
1.The company I chose to research is the, Coca-Cola Company. Their company mission is to “refresh the world” and spread happiness, which can be seen in the media advertising. Although this company is sold in stores, there is the option for online buying as well. Its URL is, http://www.coca-colastore.com. While this URL, is the company’s actual website, http://www.coca-colacompany.com/our-company. This online website allows customers to buy Coca-Cola products “Share-a-Coke” and Coke brand merchandise (Moye, 2015).
The history of Coca Cola began in 1886 when Dr. John S Pemberton, an Atlanta pharmacist created a tasty soft drink which could sell at soda fountains. Since then, Coca Cola grew to be a global brand and touched great heights. Today, it sells across 200 countries and is just as popular across all the markets and nations. The company today, owns or licenses and markets more than 500 non alcoholic beverage brands. The brand has only few major competitors in the global market. The daily servings of coca cola are estimated to be at 1.9 billion globally. (Coca-Colahellenic, n.d.) This is just another proof of the popularity of the brand which has a very large and diversified
Ghemawat declares that in the post-crisis global economy, "national differences" among and between emerging economies and developed countries remain pronounced, and that successful companies will learn strategies to "manage those differences...by adapting to local conditions." The author proposes that companies should focus on the unique character of regional and local economies, recognizing the diversity of cultures, customer needs and local competition while building strategic partnerships with regional forces to handle resource constraints.
Coco cola is one of the largest manufacturers, distributors and marketers of nonalcoholic beverages. Now a days Coca-Cola is the most famous carbonated soft drink sold in markets and restaurants in over two hundred countries. It is the world’s most and recognizable sold commercial brand. In 1886, Coca-Cola was invented by a pharmacist named John Pemberton, known as "Doc." He fought in the Civil War, and at the end of the war he decided he wanted to invent something that would bring him commercial success. Everything he made was failing in pharmacies. He invented a lot of different drugs, but none of them ever made money. So, after he moved to Atlanta, Pemberton decided to try and enter the beverage market. In his time, the soda fountain was rising in
According to David Cravens and others “Target market is a group of existing or potential customers within a specific product market towards which an organisation directs its marketing efforts”. Coca cola company follow Total market approach; therefore, company develops a single marketing mix and directs it at the whole market for their products.
I am writing to you to discuss the success of the Coca-Cola Company thus far and to discuss recommendations in which the company could use. These recommendation will help the company to become more environmentally friendly, more of an ethical company and therefore to create a better image for the company. I will be discussing recommendations in reference to the United Nations Global Compact principles, specifically, principles one and eight:
Strategy is the set of decisions and actions to achieve an organisation’s goal for a longer term basis. Strategic managers always go for long term planning as they target the ‘big picture’ which is also the execution of the strategies for QBL. A perfect example is for the company to create a brand strategy and market it, to entertain consumers because high prices bring profit for limited days- advantages of innovation. The mautiian beverages market is very competitive and includes soft drinks like Coca -Cola, Eski (a local brand) and also energy drinks, non-carbonated drinks. During Christmas, our main competitor, Coca Cola take come along with a new wraparound labels on their PET bottles with Santa Claus picture; whilst Pepsi displays regularly image of pop music & football stars. However, I’m of opinion, that we should plan something for long term like special flavoured drinks for occasions.