Coca Cola Pricing Strategy
The world's third largest company Coca-Cola is one of the most recognizable brands today. According to researchers, Coca-Cola is available in every country, including Cuba and North Korea (through the grey market). Furthermore, Coca-Cola sells 1.8 billion bottles every day and the numbers are still rising.
It's quite hard for organizations to reach the magnitude of Coca-Cola, but using the right marketing strategies may give a huge boost to increase worldwide brand recognition. If we thoroughly analyze Coca-Cola marketing strategy, we'll see that it's heavily linked with the concept of "4P's." Furthermore, Coca-Cola focuses on improving the community relationships and increasing their happiness, that positively …show more content…
Though, Coca-Cola chose a different approach and made the challenge even tougher. From 1886 to 1959 (73 years), Coca-Cola had a fixed price and it only cost 5 cents.
Today, due to the fierce competition with Pepsi (their rivalry dates back to 1975), Coca-Cola pricing strategy is strictly updated because if the prices between them noticeably change, then one of the brands will definitely suffer, and the other one will surely benefit. For instance, if the price of Cola-Cola will too much exceed Pepsi's, then consumers may shift to the cheaper one. On the other hand, if the prices will drop, it might make customers doubt the quality of the product it sells.
The Classic Bottle Of Coca-Cola - Coca-Cola's bottle was a part of the corporation's defensive marketing. But, after time, they started promoting it as much as the logo and product. Furthermore, Coca-Cola's bottle design was inspired by the shape of the cocoa pod.
Coca-Cola Logo/Font - In 1923, when the corporation's logo was normalized, Coca-Cola decided that as the recipe, the logo must have remained untouched. As a result, Coca-Cola's logo has been messing with the minds of the society for a very long …show more content…
Rather, than focusing on marketing messages, Coca-Cola simply gathers images that are somehow related to the Coke, itself. For example, many of the images uploaded on Coca-Cola's Pinterest account are random images from Flickr, that weren't taken for the sake of advertising, but for entertainment and joy. In addition, it's an awesome idea that Coca-Cola came up with, because this way, they can encourage people to interact with the brand more often, and also inspire the society to take their chance and get featured on the brand's official social