Marketing Mix of Coca cola
Understanding 4Ps of Marketing Mix of Coca Cola
Coca Cola, or coke is a carbonated soft drink manufactured by The Coca Cola Company. Recognized as the world’s most valuable brand, Coca Cola is often associated with happiness. Operating in over 200+ countries and the company boasts a solid marketing mix with 450+ product brands.
The article talks about the Marketing Mix of Coca Cola and the strength of its product, price, place and promotion strategies.
Let’s check out the Marketing Mix of Coca Cola.
PRODUCT: Product Mix of Coca Cola
Coca Cola boasts a strong product line and offers different products in different countries and regions. Coca Cola adapts its products to different regional tastes and customer preferences.
Below are few products that Coca Cola has to offer to its customers:
- Thums up
- Diet Coke
- Nestea… and more
Price: Pricing strategy of COca cOLA
One of the biggest competitors that Coca Cola has in the beverage market is Pepsi. Coca Cola follows competitive pricing for their products. The company has to be quite careful with the pricing of their products, if Coke prices its products too high as compared to Pepsi in a particular segment, then the consumers might switch especially in developing countries where the consumers are price sensitive.
Coca Cola has a presence in 200+ countries and has an extensive distribution network which not only covers the urban regions but rural areas as well. The company produces the beverage using its secret formula and transports it to the bottlers located in various parts of the globe. The bottlers then fill the beverage in the bottles and then transports those bottles to different stockists, then to distributors and finally to retailers from where consumers can buy the products.
Extensive distribution network and easy availability of Coca cola and its different products is what gives the brand an upper hand on its competitors and has also helped it kill regional competition present in different countries.
Promotion: Promotion Mix of COCA COLA
Promotion plays an important role in the marketing mix of Coca Cola, the company uses a proper mix of ATL, BTL and Digital channels for creating awareness and promoting their products.
Coca Cola is best known for its clutter-breaking and out of the box marketing campaigns. The company very well uses experiential marketing to connect and engage with customers.
Due to low customer loyalty and high competition in the beverage industry, the company needs to pay heavy focus on the advertising and promotion of the products to increase sales and create top of the mind recall in the customer’s mind.
Coca Cola relies heavily on TV ads to reach out to the masses and uses different marketing campaigns to connect with its customers emotionally and ultimately convey different product attributes.
For example: In India in March 2016, Coca Cola launched “Taste the Feeling” Campaign which seeks out to remind its customers about the joyous and happy moments Coke brings to their lives. He was chosen so as to connect well with the Indian youth.
Apart from the normal promotional activities, coca-cola also sponsors different sporting events like Football world cup, Olympic Games, Nascar etc.
This concludes the Marketing Mix of Coca-Cola
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