Understanding how to thrive even when the competition is tight and growing is important for the business.
Being a successful example, Coca-Cola has a long journey where they keep updating themselves and stay related to the market.
Because of this, Coca-Cola is known as a global marketing success.
The marketing strategy and adaptation that the company did, not just the are on top but even having tough competitors like Pepsi, they are ruling the nonalcoholic beverage industry.
There are lots of things such as simplicity, personalizing products, being social, and keep experimenting like lessons that the companies should learn from Coca Cola.
But apart from that, the company has remained an industry leader for both sales and marketing.
Behind this, they have effective, simple, and guiding core values, mission statements, vision, and other numerous reasons for success.
To know more about it, here is what you need.
What To Know About Coca Cola And Their Core Values?
Coca Cola is renowned as a multinational corporation on a global level whose leadership and development have given the nonalcoholic industry for more than 127 years since they started.
The company was founded by Asa Griggs Candler on 29 January 1892 in Atlanta, Georgia, United States.
Throughout their growth, they kept re-modeling and redefining the nonalcoholic business.
With their strategies and ideas, Coca-cola maintained its performance even after the tough turmoil in the economy over time.
As for today’s market, Coca-Cola is classified as one of the mega-corporation that has coverage on global and various subsidiaries listed. The overall estimate of the company is around $72.1 billion.
Also in the ranking, Coca-Cola holds the third position in the best brands worldwide. Not just that, they are known for their leadership in the sales and marketing industry too.
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Keeping their marketing on point along with adapting strategies to improve its sales, Coca-Cola successfully completed its 125 years in the non alcoholic beverage industry.
The main reason behind the success and the decade hold on the market is their vision, core values, and mission statement.
Not just they kept themselves guided but made significant changes to keep up with the market without losing their value.
Coca Cola‘s Core Values
With that, the company knows what actions they should be taking and how to behave. The core values of the company include:
- Leadership – It means, having the courage for shaping the future better.
- Collaboration – Leverage in having the collective genius.
- Integrity – It means to be real.
- Passion – staying committed in mind and heart.
- Quality – Knowing what to do and do it well.
- Diversity – Keeping it inclusive as brands.
- Accountability – If it’s to be, it’s up to them.
Coca-Cola did not just survive because of staying on top but also its strong culture and core values helped to keep the company moving.
Coca cola strives to foster a good relationship for creating an environment that offers an ideal place for people to share their thoughts, brainstorm, and generate quality from it.
With the help of independence in their corporation, the investors and workers feel like integral components. This helps in taking their responsibilities, being accountable, and dependable for the company’s overall growth.
Mission Statement Of Coca Cola
The company started its roadmap focused on the mission. Also, they make sure that their actions and decisions serve the purpose as well as hold the standard against the competitors.
Also, the mission of Coca-Cola is to prove the taste but keep the health and safety maintained.
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Well, the company provides the opportunities and makes sure not to neglect their responsibilities toward their community, society, and people.
The mission statement of Coca Cola includes :
- To refresh the world
- To inspire the moments for happiness and optimism
- To make a difference and create a value
The company focuses on creating a legacy whenever they go. Determined towards the individual and community to make a difference, Coca Cola includes enjoyment of a great taste of what they sell.
There are a few major components that were outlined in their mission statement, and it includes :
Enhancing The Quality Of Life
Coca-Cola understands the importance of quality in life and how it can be affected by quality in products as well as brand initiatives. To improve lives, the company maintains a trend where they focus more on health instead of earning profit.
For achieving that, they use natural sweeteners and include extracts for boosting the brand’s naturalness.
Apart from this, they make sure that the products are fresh and maintain the health of consumers. With this, they also make sure to not degrade the quality of products.
Giving Back To Communities
Not just the company focuses on its consumers’ health and taste. But also they go more to give something to their communities.
With the help of their promotional programs, Coca-Cola generates funds for supporting the communities and development agenda. It includes different sectors like healthcare, education, and infrastructure.
For example, Coca Cola took an initiative where the stakeholders and investors are mobilized to donate for good causes in society.
Along with that, the company never neglected its responsibilities as a corporate for over the decades. They focus on making the company for the people.
On top of that, Coca-Cola has been involved in different protection activities and environmental reclamation for showing their commitment.
Giving More Than Expected
Coca-Cola never let their audience’s expectations go in vain. There are always some things stored for the customers.
With the opportunities that they provided to the people for improving lives, Coca-Cola becomes one of the appreciated companies on worldwide platforms.
Also, Coca-Cola has always been on the frontline when it comes to promoting talents especially in Asia, Africa, and Latin America.
Vision Statement Of Coca Cola
With its vision statement, the company has its framework for the roadmap. It helps in guiding them in every aspect of the business.
Their vision talent focuses on what they want to accomplish to keep their growth and sustainability.
Well, their visions statement includes :
- People – Offering the place where people feel inspired and can give their best to the company
- Portfolio – Bridging the portfolio of beverage brands but in quality to satisfy as well as increase anticipation in people’s needs and desires.
- Profit – Maximizing their long return for the shareholders while not crossing or neglecting the responsibilities.
- Productivity – Being highly effective, fast-moving as well as learning organization.
- Planet – The company will be responsible and help in making a difference to support and build sustainable communities.
- Partners – Focus on nurturing the customers and suppliers together to create a relationship and enduring the values.
To summarise their statement, it says to inspire each other to do the best and provide a place which can be inspiring to work.
The company intends to create an environment and go beyond to provide the taste of their customer desires.
Well, the vision statement indicates the components that the company strives for:
In this one, The company exemplifies itself as a company that is driven by uplifting people.
Because of this, Coca Cola works with different communities and investors to make a difference in society and spread positivity.
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Along with that, the company offers a wide range of flavors to its customers for making it irresistible in the market.
The company makes sure to participate in various programs and activities to show its contribution to the environment, society, and healthcare. With that, they promote talents to make sure that others are also growing along with them.
The Coca-Cola company vision statement includes the corporate society’s responsibilities that they never ignore.
Be The Best
The company focuses on keeping its expansion continuous and improving the products in a way.
Also, they keep adapting different programs to outreach customers and communities. Well, the company is committed to being the best and inspiring others.
In terms of quality and taste, Coca Cola has been one of the best beverages in nonalcoholic options. Also, they are holding their rank over the decades.
Even having a competitors and tight market, Coca-cola made their own image and attracted the people to become the brand they are now.
The journey of Coca Cola shows the importance of maintaining a trend like upward growth.
Great Place For Work
The important, as well as the third element of the Vision statement, is creating an environment for work.
The company focuses on offering a place for work that embraces everyone regardless of the differences and promotes growth.
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Coca-cola achieved that by demonstrating the ideal working place on a global level. The company’s prime goal is to bring people together and focus on the corporation’s prime goal to achieve.
Reasons Behind Why Coca Cola is Successful?
Coca Cola started their journey from cocaine infused elixir in 1886 to a sugary drink by 1929.
They started selling 25 bottles in their first year and now the company is selling around 1.8 billion bottles every day.
Also, 10,000 soft drinks from the company are consumed by their customers every day on a global level.
Coca Cola becomes the most valuable company and also the beverage that people enjoy.
Their Logo And Timeless Font
The company changed its logo almost 10 times since 1886. Well the Pemberton‘s bookkeeper, Frank Mason Robinson chose Spencerian Script font for the company‘s logo.
The font is used by accountants mostly and the idea was to keep it different from others in competitions.
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Well, because of the font, it becomes timeless and implemented on consumers’ minds.
Also, John S Pemberton created the formula in 1886, Frank M Robinson who was the bookkeeper, as well as partner, suggested ‘ Coca Cola’ for the product.
According to him, The use of two Cs would be much cooler for the advertising purpose.
Also, the logo of the company becomes easy to recognize and even internationally it becomes memorable.
With the use of red and white colors, the font becomes appealing for the youngsters as well.
Unique Design In Bottles
Coca-Cola bottles are unique as their design is different than any other in the market.
The bottle was designed by Earl R Dean in 1915, it was introduced as a contour bottle or hobbit skirt bottle. It was named because of its wide center and slender below design.
Also during 1915, Candler was facing major losses in market share against his competitors in the market.
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He launched a national contest for designing the new bottle. Also, it was a signal for the consumers that there will be no other brown cola in identical glass that can replace Coca Cola.
Indiana based company, Root Glass participated in the contents and designed the product on its name.
Also, it was an illustration of the Coca plant and the bottle design had a strange yet appealing design.
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The company was declared the winner of the contest and the design was confirmed as new Coca-Cola bottles.
Even though it was designed for a defensive market, the company started to promote it as much as the logo and product did.
After replacing the glass with plastic, the bottle design was used as an icon for product promotion in countries like the US.
Selling ‘ Happiness’ Instead Of Drinks
Coca-cola understood the emotional marketing strategy. Instead of selling drinks, they start calling it happiness in bottles. And everyone wants to have it.
With smart marketing, the company focuses on associating the product with lifestyle and experience. Unlike other companies who focus on products for selling.
For example, The company started a campaign in 2009, it was called Open Happiness.
The message of the campaign was to invite people around the globe for refreshment with Coca-cola. And then continue their work.
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The idea was to promote the pleasures of small things. And also it was promoted all over places like billboards, Tv, stores, music components, etc.
It was featured in Janella Monae’s cover song ‘ Are You Getting Enough Happiness’ in 1980.
Smart Moves With Slogans
Coca Cola had a long journey and since then they are doing the various campaigns for advertising slogans.
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The first office was launched by John Pemberton and Frank Robinson. They ran the ads in the Atlanta Daily Journal for two weeks. The ad was “Delicious! Refreshing! Exhilarating! Invigorating!”
Well, in the 1980s, The company launched the slogan ‘’ Coke is it!” “ Can’t Beat The Feeling “ and “ Catch the Wave”.
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In 1993, the company did experiment with animation, and the “ Always Coca Cola” campaign was launched.
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With a series of ads and slogans, the company did significant shifts in its strategy. Also, they launched their global creative campaign “ Taste The Feeling” as the trademark for all Coke products.
Fixed Price For 70 Years
For any company especially in today’s marketing scenario, it’s common to start their services as free and later on charge high once their users get hooked.
Coca-Cola did the same thing, and from 1886 to 1959 they charged five cents.
The pricing was set at the same level as their competitors. It was perceived but affordable for the consumers.
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Also, Coca-Cola’s pricing had a lot to do with the biggest competitor Pepsi. Lowering the price might make people think that the quality is low and they shift to Pepsi.
Also increasing it will make people believe it’s not affordable for them and they will choose the competitor again.
In any scenario, the result was too risky for Coca Cola. However, for determining the price strategy, the company followed some factors including :
- Setting the price according to its demand in public
- Price should be maximizing the company revenue
- Price should not be too high or too low
- The price must include the target view of the market.
Taking Advantage Of Worth Of Mouth
For success, word of mouth did a major effect on Coca-Cola.
In 1888, Candler took over the company when it was five sent drinks and sold only 9 glasses per day on average.
The business mogul Asa Candler offered free coupons to the consumers. He provided the free barrels of syrups to stores for stocking more of the drinks.
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The free coupon attracted customers and the owners of stores became the paying customers.
With that, the company approached people differently. From creating the jingle ‘ Hilltop’’ that made everyone sing, it became so popular that people started to request the commercial and radio stations to play the jingle.
During the 2012 super bowl, the company chose a different route instead of traditional ways. They estimated 60% of people will be using second screens. And the company had Polar Bear mascots reacting to the game in real-time and microsites.
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Instead of ads that were unidirectional monologues, Coca Cola Polar Bears did two-way conversations. Not just it was delightful for the users but also it spread more about the company.
Coca-Cola ran a ‘ Share A Coke’ campaign which included different names like Sarah, John imprinted on coke bottles.
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The label encouraged people to share it with their friends whose name is the same and snap the photos for social media sharing.