Market intelligence context for Coca-Cola

Market intelligence context for Coca-Cola

            Coca-Cola Company is originally an American corporation company that deals with beverages in the stature of manufacturing and retail of all sorts of non-alcoholic beverages and syrups. Its trademark flagship being the launch of the product Coca-Cola in the year 1886.The company has its headquarters in Atlanta, Georgia but has seen tremendous growth worldwide with franchise kind of a distribution since 1889.

The company is listed in several international stock exchange markets such as DJIA, THE Russell 1000 index and the S&P 500 Iindex.Its chaired by Mukhtar Kent with James Quincy as the president of the company. For the company to expand in such dimensions to achieve such international success it boasts of robust market intelligence. Coca cola has implemented both qualitative and qualitative methods of market research to enable it make decisions that propel it across borders and ensure maintenance of customer base.

Market intelligence context for Coca-Cola

Market intelligence in other words market research involves use of market information to enable an organization to understand the behavior of its customers, its competitors and the marketing environment as whole (McCole & Patrick, 211). All information from market research is used to draft viable policies for the organization. As a tool it’s divided into three facets known as marketing research themes which include, customers, market environment and competitors.as an international company, Coca-Cola conducts its market research using this market themes.            They ensure that they gear to provide what the customer wants. For example things like flavor’s that interest people and those that don’t. They also do research about their competitors to have an idea on such things such as competitors’ prices, comparing products, distribution strategies and the involved promotion techniques. On the market environment research, Coca-Cola conducts this research to understand what size of the market share their products commands. Other research information that is critical to conduct includes; social, economic and technological influences that the company can adopt to push its product beyond its present point. These types of researches are either qualitative or quantitative

Internal and External Sources of Information Relevant To Forecasting International Market and Business Needs for Coca-Cola Company.

Coca-Cola understands that for it to continue thriving in the business for long term it must look far ahead to enable it understand the current  and future trends, forces and challenges that may shape up the  business scene (Armstrong, Gary, et al). This will give the company an upper hand on getting ready to face the future. It believes that a business must get ready for tommoror today. The mission of coca-Coca-Cola Company is inclined on:

• Refreshing the world
• Inspiring moments of happiness and optimism
• Crating value and making difference

Coca-Cola has it vision highly embedded on values such as;

• People-providing a friendly environment for people to work and feel creative and inspired.
• Partners-creating a network of customers and suppliers for together there is mutual coexistence.
• Portfolio- giving the world a quality of portfolio  beverages that satisfy the desires and people’s needs
• Profit-pulling up resources to maximize profits while on the other hand being mindful of their overall responsibility.
• Productivity-incorporating the technique on lean productivity and effectiveness in production
• Planet-being responsible with the environment to ensure sustainability.

Coca-Cola value includes;

• Leadership- having courage to stand for the future generations
• Integrity- being yourself.
• Accountability-standing up to be counted for the better.
• Quality- doing what you do well.
• Diversification-
• – being committed in heart and the mind

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Having a global nature of a business require that coca cola sets up a system that meets the highest standards and subsequent processes to make sure that there is consistence in quality across the entire value –chain this cuts across the production process, concentrates up to the bottling and eventually the delivery of the product. Coca-Cola believes that all their customers deserve, quality, safe and refreshing beverages.

Coca-Cola Approach

For the Company to achieve a consistency in quality and safety it has put in place strong governance practices .The Company works tireless to ensure that they comply with any applicable business standards and regulations. They always keep to date with new regulations, all industry best practices and upcoming market place conditions and trends. The company has a strict mode of product manufacturing and highly monitored distribution channel policies through an integrated system that manages quality called (KORE) Coca-Cola operating requirements.

Coca-Cola customer base worldwide.

Coca-Cola currently serves over 1.7 billion customers in a day in over 200 countries that use over 500 brands of the company (Aaker & JAennifer, 350). This is the current market share of the company and it aims to expand to all confers of the world by 2020. Coca-Cola target market is not in any way limited to area gender or age it’s a known global brand serving people in diverse areas such as offices, parties’ homes, restaurants, bars and particularly all places where people can be.

Coca-Cola competitors

The main competitors of coca cola include pepsi-cola, red bull, Nescafe and Tropicana.

In every business is crucial to know your competitors so as to understand;

• The basic requirement s to operate in a particular market.
• What kind of a market you are going to operate
• What your competitor is already offering to the market
• How to differentiate yourself from your competitor.

This information places in a position suitable to efficiently serve your target customers and know more about your competitor and other external market factors.

Coca-Cola marketing plans

Coca-Cola has a robust marketing aimed at:

• Forming and increasing present brand association with other reputed fast foods
• Bringing the level of ingestion of its beverages to a higher level.
• To increase the level of research and development through greater share of finance
• Providing variety of more caloric products to enable them meet global health needs.

Conclusion

With their operations worldwide, coca cola face a clear decision to make their product standard globally to enable them reap the benefits of economies of scale by either adapting to offer to a particular market or  decide to adopt an integration approach or both approaches simultaneously (Ginsberg & Meredith, et al)

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With the emergence of much literature on external factors that are uncontrollable and may impact a company’s operations and strategy concerning its positioning; this paper provides a clear environmental analysis of internal and external factor to bring out the best of a strategy and technical approach. This paper emphasizes on the international positioning of the company Coca-Cola by using the provided models.

References

Armstrong, Gary, et al. marketing: an introduction. Pearson Education, 2015.

Babin, Barry J., and William G. Zikmund. Exploring marketing research. Cengage Learning, 2015.

McCole, Patrick. “Refocusing marketing to reflect practice: The changing role of marketing for             business.” Marketing Intelligence & Planning 22.5 (2014): 531-539.

Burns, Alvin C., Ronald F. Bush, and Judith Nash. Basic marketing research: using Microsoft     Excel data             analysis. Pearson Prentice Hall, 2008.

Aaker, Jennifer L. “Dimensions of brand personality.” Journal of marketing research (1997): 347-356.

Ginsberg, Jill Meredith, and Paul N. Bloom. “Choosing the right green-marketing strategy.” MIT Sloan             Management Review 46.1 (2004): 79.