Coca Cola

 Name - M.R.M. Ramzi

 S.ID - S92066916 

                                       

                                         Coca-Cola Company  

Planning function of the company 

  

Vision 

Coca Cola’s vision statement is “inspiring each other to be the best we can be by providing a great place to work”.  

 

Mission 

Coca Cola’s mission statement is “to refresh the world in mind, body, and spirit, to inspire moments of optimism and happiness through our brands and actions, and to create value and make a difference.”. 

 

 

Marketing Strategies of Coca-Cola

Coca-Cola uniquely designs its marketing strategy, which gives a boost and gives broad global recognition. Like many other companies, Coca-Cola bases its marketing strategy on 4Ps: product, promotion, price, and place. Coca-Cola follows the marketing mix strategy.

•        Product strategy

Coca-Cola has a wide range of products, and they are soft drinks these products are offered globally, and its product strategy can be studied by marketing mix.

•        Pricing strategy

Coca-Cola's price remains fixed for about 73 years. It cost only five cents over time. Competition increases in the market with competitors like Pepsi is the biggest competitor of Coca-Cola. Because of this, the company has to make its pricing strategy flexible.

 

 

 

 

•        Place strategy

Coca-Cola is the global industry, and they have a vast network of distribution, their products are sold in more than two-hundred countries. They have six operating regions:

Latin America, Africa, Europe, Pacific, Eurasia & North America. 

•        Promotion strategy

Due to intense competition in the market, Coca-Cola focuses on different promotional and marketing strategies. They mostly focus on aggressive marketing. According to statistics, Coca-Cola spent 4$ million in 2016, and in 2018 it spends 4.1$ million in promotion of its brand.

 

Effective Marketing Strategies for Business Growth:

 

•        Utilize Social Media Platforms

Social networking is impossible to ignore since the majority of people these days are now on social media. A lot of businesses have entirely relied on social media for their success. It may seem daunting at first, but as you gain experience, you'll discover that publishing on social media becomes more accessible and more manageable.

•        Use Videos as Marketing Tools

Video is a quick and effective way to get your message through to your audience. It demonstrates to your customers exactly what your product can achieve for their company. According to Aberdeen Group research, organizations that use video as part of their marketing plan see a 49% increase in income annually than those that don't. Your company should take advantage of video as it becomes an increasingly important part of content marketing strategy.

 

 

 

•        Social media marketing strategies

Social platforms contribute highly to your overall digital marketing strategy because you can grow your fan base and increase your sales. You can advertise your new products, share information, and communicate directly with your customers on a social media account, and save time using handy tools to manage all your social media accounts. In this case, a social media account serves as a marketing tool and a sales platform. 

 

SWOT Analysis of Coca-Cola  

Organizational structure 

The organizing structure if the Coca-Cola company consists of board of directors who as the full authority in decision making. They are appointed by the shareholders of the company. Members of the senior management and several standing committers carry out the decision made by the board of directors. 

It is Boards responsibility to select and oversight of senior management including CEO and the Vice CEO. Audit, Compensation, Directors and Corporate governance, executive, finance, management development, and public issues and diversity review are the seven standing committees of the company. Annual self-evaluation and evaluation of CEO is a responsibility of the board of directors. The board of directors are answerable to its shareholders (Writer, 2020). 

 

Motivation methods 

Motivation is a category that every company looks forward to. Coca-Cola being an iconic brand it gives a lot of effort to motivate its employees. Promotions are given according to the performance of the employees which is highly important for its benefits. Due to this, employee is more encouraged and determined to show high performance. Compensation strategy is another way Coca-Cola company motivates its employees; Coca-Cola pays industrial average in compensation. Also, different forms of campaigns and competitions are held to motivate the employees. 

To make the employees more confident and appreciated mangers play a huge role in their life. They help in all their problems; personal and professional. They constantly give them feedbacks on their performance to make them encouraged and motivated (Ref, 2020).