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What have been the key success factors for Coca-Cola?
There are many factors contributing to Coca-Cola's success, however, I believe that their key success factors are Marketing, Innovation, and Globalization.
●Marketing:
Coca-Cola is seen as one of the founding fathers of the modern day marketing model. They were among the pioneers of advertising techniques and styles used to capture an audience. They were also one of the first companies to offer a gimmick with their product, this being a mini yo-yo. It was around 1900 when Coca-Cola began presenting their signature drink as a delicious and refreshing formula. This slogan has been repeated for over the last 100 years selling Coke all over the world. Through its intense marketing campaigns, Coke has developed an image that is reflected in what we think of when we buy Coke and what we associate with drinking Coke. This image has been subconsciously installed in our brain by the advertising campaigns that show Coca-Cola associated with "good times."
●Innovation:
Coca-Cola has been able to survive and grow in an ever-changing market because of its ability to systematically innovate and deliver new products. In the late 90s the company, typically showing earnings growth of 15-20% per year, turned in three straight years of falling profits. It was apparent that the market was changing and in order to keep up with these changes, Coca-Cola had to move from a single core product to a total beverage company.
What have been the key success factors for Coca-Cola?
There are many factors contributing to Coca-Cola's success, however, I believe that their key success factors are Marketing, Innovation, and Globalization.
●Marketing:
Coca-Cola is seen as one of the founding fathers of the modern day marketing model. They were among the pioneers of advertising techniques and styles used to capture an audience. They were also one of the first companies to offer a gimmick with their product, this being a mini yo-yo. It was around 1900 when Coca-Cola began presenting their signature drink as a delicious and refreshing formula. This slogan has been repeated for over the last 100 years selling Coke all over the world. Through its intense marketing campaigns, Coke has developed an image that is reflected in what we think of when we buy Coke and what we associate with drinking Coke. This image has been subconsciously installed in our brain by the advertising campaigns that show Coca-Cola associated with "good times."
●Innovation:
Coca-Cola has been able to survive and grow in an ever-changing market because of its ability to systematically innovate and deliver new products. In the late 90s the company, typically showing earnings growth of 15-20% per year, turned in three straight years of falling profits. It was apparent that the market was changing and in order to keep up with these changes, Coca-Cola had to move from a single core product to a total beverage company.
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