Marketing Strategy in Action Coca-Cola. Essay Example

increase its sales opportunity. Creating too many products could upset loyal fans and dilute their nostalgia. Coca-Cola should consider alternative branding options to avoid impacting the loyal consumers who have a strong association with its brand name.

Ultimately, Coca-Cola needs to focus on consumer preferences, as they are the ones making the final purchase decisions. If soda consumption decreases, Coca-Cola will sell less cola syrup to its customers. Loyal consumers have cherished memories with Coca-Cola as it holds the position of the world's leading soft drink company.

Coca-Cola's success lies in its ability to borrow brand equity through initiatives such as sponsoring the 1996 Summer Olympics. By doing so, they aim to create an association in consumers' minds between Coca-Cola and the event, ultimately influencing their purchasing decisions. The advantage of borrowing brand equity is cost-effectiveness and forming positive memories that would impact future buying choices.Despite the possibility of some consumers not linking Coca-Cola with the Olympics and therefore wasting money on these individuals, developing brand equity can foster consumer loyalty. If customers can associate positive experiences with a brand, it can result in lifelong devotion. To further strengthen its brand equity, Coca-Cola has implemented new labeling and packaging for its existing products. Although this proactive approach may risk disconnecting loyal consumers from their cherished memories due to changes in product appearance, it also has the potential to motivate those who haven't purchased a coke recently to do so. In addition, Coca-Cola has globally introduced the Contour bottle as a means to enhance its brand equity through this distinctive packaging design. With its highly successful marketing team, The Coca-Cola Company has positioned its bottle as one of

the most recognized bottles worldwide.