Review the “Marketing Excellence: Coca-Cola” case study on pp. 611 of your textbook (ATTACHED). In thinking about the great brand success Coca Cola has experienced, what do they need to think about in the future with respect to communication strategies. Think about both traditional and digital applications and be specific with both media, themes and timing.
ANSWER THE ABOVE QUESTION THEN REPLY TO MY CLASSMATE’S RESPONSE TO THE ABOVE QUESTION AND EXPLAIN WHY YOU AGREE? (A MINIMUM OF 200 WORDS EACH POST)
Coca-Cola is reported to be one of the best brands in the world when it comes to popularity and sells according to the case study. It’s also said that it repeatedly rates at the top of the Interbrand ranking. Just as it did in 1886 when emphasizing the product’s medicinal benefits, Coca-Cola must continue to seek out target markets when the opportunity arises. Past campaigns certainly exhibit the brand’s ability to think outside of the box.
Popularity of the brand has been established by traditional media such as newspaper ads, magazines, and even billboards; not just in the U.S., but all over the world. Coca-Cola can strengthen its position in the future as the brand that connects people by being responsive to social, political, and economic events as they occur around the world. The use of social media, smart phones, blogs, and online forms, to name a few – to relay sincere, relevant messages to its current and prospective consumers will prove to be highly valuable.
To avoid failure of new products like New Coke, the brand should ensure it communicates, clearly, the benefits and features of new products. This can be done by soliciting feedback from consumers who have been provided free samples at the point-of-purchase and by mail. Relevancy and time will also play a major role in the success of the brand’s messaging to consumers. If the firm finds that consumers are reading less hard-copy materials (newspapers and magazines, for example), it might be wise to focus more on the technological advances made in other industries to reach consumers. In another effort to expand its reach, the brand should also look to influential online leaders to for assistance in spreading positive word-of-mouth information about its products. Something as simple as sponsoring YouTube sensations could be very beneficial.
I cannot emphasize enough the importance of the brand remaining relevant with consumers, and messaging to them in a timely manner. If the firm continues to combine traditional and digital forms of communication, it will find itself topping ratings around the world as it currently is now. Finally, Coca-Cola’s marketers must be cognizant of consumers’ behaviors and to other forms of technological advances in an effort maximize opportunities as they are presented; and to make updates to marketing strategies as needed.