Coca-Cola is the most recognizable brand in the world. How did the company achie

Question

Coca-Cola is the most recognizable brand in the world. How did the company achieve this distinction? What has the company done in its marketing mix in terms of product, price, distribution, and marketing communications that has created such tremendous brand equity and loyalty? How has advertising aided in building the brand? (Students might want to visit Coca-Cola's Website for help at http://www.coca-cola.com/global/glp.html (Links to an external site.)Links to an external site.)

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Class: MK380 Advertising

Explanation / Answer

Hi,

Thanks for the question.

4 P's define the marketing strategy for any company or for a particular brand. This is the strategy to reach and market the product to the customers.

The 4 P's will be:

The company achieve the distinction of being the great brand by consistently providing the quality products at a reasonable rate. Advertising has played an important role in the ascent of the product.

The Coca Cola adopted the product differentiation strategy in order to differentiate its products from its competitors. The differentiation means providing the different and unique products from your competitors and charging some premium for the same. It has a wide and unmatched breadth of media platforms, that they use to produce and distribute its various content in the market.

The Coca Cola Company has gone for a strategy by which they are currently dominating the market and are currently holding a major market share. The target customer segment of The Coca Cola Company is not price-sensitive. Since they are giving a complete network of products as well as the services, the added price of the services is not problematic for the customers.

Maximizing the market share is the complementary strategy for growth adapted by The Coca Cola Company. Pushing their products and services to the new markets and increasing the sales volume and revenue are their prime targets. It is also trying to optimize the capacity of the new markets.

There are different methods with which they can do the marketing of their products. Different perspectives that are taken by the companies while deciding their marketing media preference:

There are various methods with which the companies can do that:

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