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Essay / Coca Cola Essay - 1154
The beverage manufacturing and bottling industry is heavily influenced by economic and other consumer-associated market trends. To capitalize on its strengths and opportunities, Coca-Cola targets a specific demographic through online viral marketing for its product; it uses new technological tools (Facebook, Instagram) as a means of communication to market its products and interact with consumers. The company uses well-known celebrities for its advertising campaign and sponsors sporting events such as the Olympics and the FIFA World Cup to promote its brands. On the other hand, to minimize its weakness and threats, Coca-Cola allocates funds and resources to research “guided by international standards, including the International Labor Organization Code of Practice on HIV/ AIDS and the world of work, and the Joint United Nations Program on HIV/AIDS (www.coca-cola.company.com).” The company also promotes diversity in its workplace, which serves to recognize leadership and fairness, encourage a work atmosphere of open communication and essentially seek out and exploit new ideas. Corporate Strategies Coca-Cola's goal is to maximize profitability and growth in order to create value for its shareholders. To achieve these goals, the company has devoted significant time and attention to developing and implementing strategies. Consistent with its strategic direction, Coca-Cola has established these strategies to maximize its competitiveness and profitability: • Implement product, packaging and pricing strategies to increase consumer demand • Leverage an integrated business model to continue to explore and participate in new beverage lines• Focus on high profit and margin growth opportunities• Strengthen its distribution...... middle of paper .....rds, such as Global Reporting Initiative helps us ask questions within our organization that are important to improving our performance. We continue to better understand the areas in which we collect and analyze data well and the areas in which we continue to face challenges, and we have made significant progress in our corporate responsibility reporting since we started doing so in 2001. Conclusion Although The Coca-Cola Company's (TCCC) track record appears brilliant, the company has built an excellent structure to support its business goals. Although they are losing some market share; they inspire mission, vision and values. The company is committed to sustainable growth with its shareholders. A culture of improvement, partnership and teamwork demonstrates that TCCC has a strong foundation of open communications and relationships on which to build success and growth..