COCA-COLA NOLAN O’CONNELL

GROWTH OPPORTUNITIES

MARKET PENETRATION EVEN THOUGH COCA-COLA HAS BEEN IN EXISTENCE SINCE 1886, THERE’S ALWAYS ROOM FOR IMPROVEMENT AND EXPANSION. WITH COCA-COLA ALWAYS BEING A RISK TAKER, THEY ARE ALWAYS LOOKING FOR NEW WAYS TO INCREASE THEIR FOLLOWING MARKET. BECAUSE OF THIS, COCA-COLA HAS BEEN USING THE UNITED STATES AS A “TESTING GROUND” FOR NEW PRODUCTS IN THAT IT TRIES OUT NEW PRODUCT IN THE UNITED STATES BEFORE TESTING THEM IN OTHER COUNTRIES.

MARKET EXPANSION MUCH LIKE MARKET PENETRATION, MARKET EXPANSION IS ABOUT FURTHER EXPANDING A PRODUCT. AS STATED BEFORE: IN ORDER TO BECOME MORE SUCCESSFUL IN OTHER COUNTRIES, COCA-COLA USUALLY TESTS ITS NEW PRODUCTS ON THE UNITED STATES FIRST. THE REASON COCA-COLA DOES THIS, IS TO ENSURE THAT THEIR CURRENT STRATEGY WILL BE SUCCESSFUL. ONCE A PRODUCT HAS BEEN CONFIRMED TO BE SUCCESSFUL, COCA-COLA WILL BEGIN TESTING THEIR PRODUCT IN OTHER MARKETS.

RETAIL FORMAT DEVELOPMENT WHEN DEVELOPING A NEW FORMAT, SOMETIMES COCA-COLA CHOOSES TO MAKE NEW PRODUCTS SUCH AS COKE ZERO, DIET COKE, COCA-COLA POPSICLES, ETC… WHEN IT MAKES THESE, COCA-COLA IS ABLE TO DETERMINE WHO WOULD BE BEST SUITED FOR THESE PRODUCTS. SOME PEOPLE MAY BE INTERESTED IN POPSICLES MORE THAN A SODA DRINK WHILE OTHER MAY BE INTERESTED IN JUST THE SODA CAN ITSELF. WITH COCA-COLA CONSISTENTLY EXPANDING THROUGHOUT THE UNITED STATES, THEY ARE ABLE TO CONSISTENTLY DETERMINE WHO WOULD BEST MARKETED TOWARD WITH EACH PRODUCT.

DIVERSIFICATION AS STATED THROUGH THE “RETAIL FORMAT DEVELOPMENT” SECTION, COCA-COLA IS ALWAYS MARKETING NEW PRODUCTS TOWARD ITS CONSUMERS. BY DOING THIS, COKE IS ALWAYS MAKING THE ATTEMPT TO REACH TOWARDS NEW TARGET MARKETS WHICH OTHER COMPANIES MAY NOT BE FOCUSING ON TOO MUCH. AT THE TIME, COKE WAS FOCUSING MAINLY ON DIETARY PRODUCTS WHICH MOST SODA COMPANIES WEREN’T FOCUSING ON TOO MUCH AT A POINT. IT’S BECAUSE OF THIS THAT COCA-COLA IS ALWAYS MAKING AN ATTEMPT TO DIVERSIFY ITS PRODUCTS.

KEYS TO GLOBAL SUCCESS IN RETAILING

GLOBALLY SUSTAINABLE COMPETITIVE ADVANTAGE COCA-COLA IS ALWAYS MAKING AN EFFORT TO SEPARATE ITSELF FROM OTHER PRODUCTS. IT DOES THIS BY HELPING OUT OTHER BUSINESSES AND FOUNDATIONS, GETTING ITS BRAND OUT WHEREVER POSSIBLE, AND CONTINUALLY INTRODUCING NEW PRODUCTS WHEN NECESSARY. BECAUSE OF THIS, COKE HAS CREATED A FAMILY FRIENDLY PRODUCT WHICH THE WORLD HAS GONE TO RECOGNIZE. IT’S ALSO THROUGH THIS THAT COKE’S LOGO HAS BECOME ONE OF THE WORLDS MOST RECOGNIZABLE LOGOS.

ADAPTABILITY, GLOBAL CULTURE, & FINANCIAL RESOURCES WITH COKE-COLA BEING AN INTERNATIONAL BRAND, IT DOESN’T REALLY NEED TO CHANGE ITS BRAND TOO MUCH TO MATCH OTHER COUNTRIES SINCE ITS BRAND WAS MULTICULTURAL FROM THE START. BECAUSE COKE DID THIS, IT HAS BEEN EASIER FOR THE PRODUCT TO TAKE OFF INTERNATIONALLY AND BECOME WELL RECOGNIZABLE. ALSO, BECAUSE IT HAS ADVERTISED ITSELF INTERNATIONALLY THAT IT HAS ALLOWED FOR ITS BRAND TO EASILY FLOW INTO OTHER CULTURES NATURALLY WHILE STILL KEEPING ITS ORIGINAL FORMAT AND STYLE OF PROVIDING PRODUCTS.