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Coca-Cola's many strengths include its iconic brands, massive distribution network, huge marketing budget, and its size (which allows it to swallow up smaller competitors with hot new products).
Product extensions are versions of the same parent product that serve a segment of the target market and increase the variety of an offering. An example of a product extension is Coke vs. Diet Coke in the same product category of soft drinks. This tactic is undertaken due to the brand loyalty and brand awareness associated with an existing product.
By 1985, Coca-Cola had been losing market share to diet soft drinks and non-cola beverages for several years. Blind taste tests suggested that consumers preferred the sweeter taste of the competing product Pepsi-Cola, and so the Coca-Cola recipe was reformulated. The American public reacted negatively, and New Coke was considered a major failure.
Coca-Cola was developed in 1886 by pharmacist John Stith Pemberton. At the time it was introduced, the product contained cocaine from coca leaves and caffeine from kola nuts which together acted as a stimulant. The coca and the kola are the source of the product name, and led to Coca-Cola's promotion as a "healthy tonic".
Coca-Cola sales are flat, but its profits are fizzy. The beverage behemoth posted $11.30 billion in first-quarter revenue on Tuesday, exceeding Wall Street’s $10.96 billion expectations, even as ...
A clear example of Horizontal Product Differentiation can be seen when comparing Coca Cola and Pepsi: if priced the same then individuals will differentiate between the two based purely on their own taste preference.
On May 23, 2022, Coca-Cola announced it would stop carrying Honest tea beverages as of December 31, 2022. [1] [9] Coca-Cola decided it would only carry two brands of tea, Gold Peak Tea and Peace Tea, because they are "best positioned to meet consumer preferences for high-quality brewed teas with different levels of sweetness and flavor".
[clarification needed] For example, The Coca-Cola Company employed the strategy of "anchor bottlers" to penetrate markets like China, Eastern Europe and Russia. Notable anchor bottlers include: Coca-Cola Refreshments USA, subsidiary of The Coca-Cola Company, the company's anchor bottler for the North American market.