Coursework Essay Example | Topics and Well Written Essays - 2500 words

Coursework - Essay Example Coca Cola Company owns over 300 brands including carbonated drinks, non-carbonated drinks, fruit drinks, sports drinks and bottled water. It is estimated that this company has a daily turnover of 2billion on all of its brands thus providing enough prove that Coca Cola Company is among the biggest companies holding biggest market share in the global markets where 80% of the turnover and profitability comes from international markets outside USA. To sustain this dominance and to facilitate its expansions into the new market segments at the same time launching new products the company has to develop market plan in where it outlines various guidelines and strategies that the company should fully implement, more notable is that the Company has become a success story because of its various marketing strategies that suits the various consumer market segment across the globe (Doole 2008). These marketing strategies have enhanced the continued expansions of the company into the new global pot ential markets through acquisition of other brands countering its major competitors, launching of new brands and development of new markets in the unexploited markets as well as facilitating brand awareness to the existing and potential consumers thus enhancing consumer satisfaction, trust and loyalty on these brands. The Company approach on laying emphasis on consumer marketing campaigns has seen the Company’s brand varieties such as Diet coke, Rc cola, Sprite and Fanta performing well in all the market segments globally. The key factor that is notable to significantly contribute to the Coca Cola Company’s global market sustainability is the brand consumer marketing approach of adopting global marketing strategies. The need for adopting global marketing strategies came as a result of the company implementing the consideration of expanding into the global markets where they needed to address the various consumer needs, market segments and diverse consumer cultures (Doo le 2008). Marketing strategies for making marketing decisions varies in different regions in the world therefore it has become important for Coca Cola Company to conduct consumer marketing based on the domestic market segment cultures and the needs of the society. Coca Cola Company has faced stiff competition and increased rivalry in the domestic markets and the international markets, its major rival is Pepsi which is also manufacturing and distributing substitute products to those of Coca Cola Company. There are also other challenges that the company needs to address in order to consolidate its position as a leader in the global and domestic markets. These among others include lower sales of brands in the new markets; communication marketing mechanisms are inadequate; brand recognition and awareness in some market segments was very low and finally is the negative perception of consumers towards Coca Cola brands in regard to health issues. With this situation the Company needed to c ome up with unique marketing strategies and techniques to ensure that they edge out its competitors through the expansion of its markets and the consolidation of the customer base. To ensure that they identify suitable and appropriate marketing strategies for this consideration, the company sought to understand the consumer theories that may apply in the various societies in regard to marketing. They also found out how various marketing and advertisement models work in the consumer