Coca-Cola Company is a manufacturer, marketer, and retailer of nonalcoholic beverages. Coca-Cola is the company's flagship product, and more than five hundred brands are sold across more than 200 countries across the globe. The company headquarters is in Atlanta, Georgia, in the United States. The company's purpose is to give the world a refreshment and make a difference. The company's leading portfolio of brands includes Coca-Cola, Fanta, Sprite, among other drinks. Additionally, its tea, coffee, sports, and hydration brands include Ayataka, Honest, Gold Peak, Georgia, Costa, Powerade, Topo Chico, Dasani, SmartWater, and Vitaminwater. The company also offers nutrition, dairy, juice, and plant-based beverage brands such as Ades, Fairlife, Valle, Del, innocent, and Minute Maid (The Coca-Cola Company, 2021). That means the company offers a wide variety of products to the world population to ensure that people stay refreshed.
The reason for choosing this company is due to its concern for the lives of individuals. The company is continuously transforming its portfolio from reducing its drinks and bringing new innovative products into the world market. The company mainly seeks to positively impact the lives of individuals, communities, and the world's population by reducing carbon emission, sustainable sourcing practices, packaging recycling, and water replenishment across its value chain. Besides, the company takes care of its environmental effects in the whole of its product’s life. It takes the initiative right from the ingredients’ growth and material sourcing to how the consumers are disposing of their bottles and empty cans used for packaging (the Guardian, 2021). Together with its bottling partners, the company has also managed to employ seven hundred thousand individuals. As a result, it helps in bringing economic opportunities to the local communities across the world.
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Coca-Cola introduced Diet Coke in the market to attract consumers who were more conscious about their lifestyle choices. The product has been introduced globally and has helped the company be more competitive against its competitors because it eliminated the company's perception of being associated with an unhealthy lifestyle. Nevertheless, the organization must be conscious of some environmental considerations since its packaging facilitates littering (Boz et al. 5). Continental leaders are looking forward to achieving the global sustainability agenda where ecological conservation is part of the plan. When the company introduced diet colas, the company had an extended policy of using the Coca-Cola brand name only on its flagship Cola product. Therefore, its Diet Cola was given the name "Tab." After its launch in 1963, its competitor Pepsi did not have such qualms, and after Pepsi successfully launched its diet Pepsi product and attracted many consumers in the market, the Coca-Cola comapny also decided to introduce a competitive no-sugar product using the Coca-Cola name instead of the Tab. The Coca-Cola name helped the company market the product more easily than the name Tab.
Besides, the overall industry's intake of sugar has reduced by 16% from 2012 (British Soft Drinks Association, 2016). Therefore, Coca-Cola has also opted to change its marketing investments to increase its low and no-sugar beverages (Packaging and Converting Intelligence-mag, 2016). Although it introduced no sugar in 2015, many people were not aware of the new product with no sugar (Packaging and Converting Intelligence-mag, 2016). Therefore the company decided to come with Coke Zero Sugar to replace Coke Zero. As a result, the sales volume of Coke Zero in 2015 heightened from 82 to 85 million. However, the sales value decreased by 1% within that particular period. That means the volume of sales increased after this promotional strategy. Therefore, the company’s expenses was more than 30 million due to the development program of a new product (Coca-Cola, 2016). After launching the new Coke Zero Sugar product, the company was expected to strengthen the portfolio of its creation.
References
British Soft Drinks Association. (2016). BSDA 2016 Annual Report: Sugar intake from soft drinks is falling year on year – over 16% since 2012 . Britishsoftdrinks.com. Retrieved 9 March 2021, from https://www.britishsoftdrinks.com/Industry-Initiatives/bsda-2016-annual-report-sugar-intake-from-soft-drinks-is-falling-year-on-year-over-16-since-2012/145583.
Packaging and Converting Intelligence-mag. (2016). Coca-Cola Great Britain announces next step in strategy to help people reduce their sugar and calorie intake - Packaging & Converting Intelligence . Pci-mag.com. Retrieved 9 March 2021, from https://www.pci-mag.com/news/newscoca-cola-great-britain-announces-next-step-in-strategy-to-help-people-reduce-their-sugar-and-calorie-intake-4872450.
The Coca-Cola Company. (2021). About . The Coca-Cola Company. Retrieved 9 March 2021, from https://investors.coca-colacompany.com/about.
The Guardian. (2021). Company profile for Coca-Cola . the Guardian. Retrieved 9 March 2021, from https://www.theguardian.com/sustainable-business/companies-list-c-d1#:~:text=Overview%3A,1.6bn%20servings%20each%20day.
