The Coca-Cola brand has been adopted the strategy of global brand. They are considering the world market as single market place and use consistency-marketing strategy for many years. However, now the trend is differencing marketing campaign for typical region of the world. “They had created an entity called Venturing and Emerging Brands specifically to invest in and build enterprises as opposed to just acquire them” (The Wall Street Journal, 2014). As A manger believe strategic planning is critical to business success. Different from classic business leaning, the strategic variety involves vision, mission and outside-of-the-box thinking.
Strategic planning describes where you want your company to go, not necessarily how you’re going to get there. However, like all other “travel plans,” without knowing where you want to go, creating details on how to arrive are meaningless. Strategic planning defines the “where” that your company is heading. Coca-Cola Our Mission: The roadman starts with our mission, which is enduring. It declares our purpose as a company and serves as the standard against which we weigh our actions and decisions. To refresh the world… 2 To inspire moments of optimism and happiness… To create value and make a difference (Coca-Cola Journey). 2 The Vision The vision serves as the framework for the Roadman and guides every aspect of Our business by describing what we need to accomplish in order to continue achieving sustainable, quality growth. People: Be a great place to work where people are inspired to be the best they can be. Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and satisfy people’s desires and needs. Partners: Nurture a winning network of customers and suppliers, together we create mutual, enduring value.
Planet: Be a responsible citizen that makes a difference by helping build and support sustainable communities. Profit: Maximize long-term return to shareowner while being mindful of our overall responsibilities. Productivity: Be a highly effective, lean and fast-moving organization (Coca-Cola Journey). Objectives: To make solutions for above issues regarding Coca Cola, we are going to set Following objectives: Developing new potential products Developing new potential products: Research and development new average 3 packaging and product portfolio of Coca-Cola is one of the solutions for Coca Cola to expand competition.
It can help gain brand value and improve the customers’ satisfaction. R products which are good for health of customers, made from healthy Materials can change the negative image of Coca with difficult people and expand market share. Improve packaging by beautiful and creative design, useful to create new feeling for customer: unique, funny, style and fresh. Bringing images of new products popular to customers in an Effective way through marketing strategy.
Bringing images of new products popular to customers in an effective way through marketing strategy: Advertising is very important with any brands and products, especially with new Products. There are Advertising Forms that Coca Cola Company can apply. Billboards have strength because they are seen by large number of consumers. TV, Magazines, Newspapers, public/ street furniture, and online advertising would be the most effective increasing market share Increasing market share: By building customer loyalty in other markets, by doing sweepstakes, loyalty reward programs, and using Public relations to rate a positive image in a new market.
Price strategy Price strategy: Price strategy of coca in order to provide appropriate price to consumers and make them comfortable about price and product quality, short the distance 4 between introduce products and customers. Coca-Cola have a high market share, competitor pressure has forced customer sensitivity to price to be fairly high, sales volume is of course high and profit margin is fairly low as The Coca-Cola products are fast moving consumer goods. The price strategy based on the customers’ psychology Control marketing testing
Control market testing by collecting feedback from customers to improve products and marketing plan. “Our products are tested in modern laboratories using state-of-the-art methods and appropriate technologies against stringent requirements. We measure key product and package quality attributes by focusing on ingredients and materials, as well as samples collected from the trade. We monitor compliance with our standards in manufacturing and distribution of The Coca-Cola Company products to ensure those products meet Company requirements and consumer expectations in the marketplace” (Product, Safety, and Quality).
Key Initiatives The Company introduced the following initiatives to reinvigorate growth: Streamlining and simplifying its operating model to speed decision-making and enhance local market focus. These organizational changes, along with the previously announced changes being made to long-term incentive metrics, will empower employees and link line-of-sight accountability to business results. -Expanding its current successful productivity program by targeting annulled savings of $3 billion per year by 2019. This productivity program will focus on four key areas: 5 implementing zero-based budgeting across the organization;
Restructuring the Company global supply chain, including manufacturing in North America; Streamlining and simplifying its operating model; and Driving increased discipline and efficiency in direct marketing investments. As a result of these productivity initiatives, the Company expects to fund the marketing initiatives and innovation required to deliver sustainable net revenue growth. These savings will also support margin expansion and increased returns on invested capital over time. Refocusing on its core business model of building the world’s greatest beverage brands and leading n unmatched global system of strong local bottling partners.
This will include refashioning the majority of Company-owned North American bottling territories by the end of 201 7 and a substantial portion of the remaining territories no later than 2020 (Permanganate. Net). Conclusion In Conclusion, “The world is changing all around us. To continue to thrive as a business over the next ten years and beyond, we must look ahead; understand the trends and forces that will shape our business in the future and move swiftly to prepare for what’s to come. We must get ready for tomorrow today. That’s what our 2020 Vision is all about.