Since its inception in 1886, Coca-Cola has continued to supply its customers with ubiquitous sugary drinks. According to the company’s records, more than 1.9 million people worldwide enjoy their products every day. Having an appealing product is not enough to become a giant in the international market. Coca-Cola used viable strategies, which made it popular in its hometown of Atlanta in the early 1920s.
Here are strategies used by coca cola to explore and retain the international market.
Started with An Appealing Tested Formula
Coca-Cola company was launched by a war veteran named John Pemberton. The soft drinks manufacturer started by developing a version of Coca-Cola wines that were in demand at the time. The Atlanta legislation body passed laws that prohibited beverage manufactures from producing an alcoholic version of their drinks.
Pemberton didn’t resist change whose time had come. He sent his nephew Lewis with samples of the new non-alcoholic version of their drink to a local pharmacy where people gathered to enjoy the new version of sodas. Lewis Newman relayed Pemberton’s feedback about the concoctions, and within a few days, his uncle came up with a unique customized taste. The soda has undergone several adjustments since 1903 when cocaine was removed.
It Uses A Lasting Logo
Frank Mason, Pemberton’s bookkeeper, decided that the company logo should be written in the Spenserian script commonly used by accountants to give it a competitive advantage. The logo was formally launched in 1923, and just like the soft product, it would remain unaltered for years. Since to date, the logo remains imprinted in the minds of millions of people for decades around the globe.
Retailers Were Responsible for Maintaining High Standards
After acquiring a significant market share, Coca-Cola focused on maintaining unmatched standards of excellence. One of the strategies to differentiate their service from that of competitors was serving their soft drinks at 36 degrees. The company management informed its retailers never to serve the drink above 40 degrees.
The Consumer Price Remains Standard For 70 Years
Generally, startups begin by offering their products of services at friendly prices and then charging a higher price to gain more customers. Even after winning hundreds of thousands of customers in the US, Coca-Cola used the same approach to scale in other parts of the world. Surprisingly from 1886 to 1959, a bottle of coke maintained a standard price of five cents.
Developed A Voice and Took Advantage of Word of Mouth Advertising
Coke was and remained to be a brand that customers want to be identified with. The company formulated a coupon initiative that led to more than 10% of its products being given away to create brand awareness. The beverage manufacturer also provided retailers with Coca-Cola festoons and posters for decorations and clocks and calendars for customers. The main goal was to affix to items that are not related to their products.
Up to date, all Coca-Cola manufacturers around the world use similar advertising styles.