INTRODUCTION

Coca-Cola Company is one of the companies active in this sector. Coca-Cola Company is

the world's top manufacturer, marketer, and distributor of non-alcoholic beverage concentrates

and syrups, used to generate approximately 400 beverage brands. Coca-Cola Company was

founded in Atlanta, Georgia, on May 8, 1886.

John Syth Pemberton, a pharmacist in Atlanta, Georgia, invented Coca-Cola in 1886 by

mixing caramel-colored syrup in a three-legged metal kettle in his backyard. He initially

"distributed" the product by transporting it down the street to Jacob's Pharmacy, where customers

paid five cents for the beverage at the soda fountain. Whether by accident or design, carbonated

water and the new syrup were combined to produce a beverage that was deemed "delicious and

pleasant."

The Coca-Cola Company sells the top soft drinks in the world. Since it is the biggest

company in the world that makes drinks, it is also the biggest company that makes and sells soft

drinks. The Coke Company is successful as a business because of the following, the first is that

the corporation manufactures a distinct and recognizable brand. Coca-Cola is one of the world's

most recognizable trademarks. Then the quality, Coca-Cola consistently offers their customers

with the products of high quality. The following aspect is their Marketing, the Coca-Cola

company consistently delivers globally original and inventive marketing initiatives. Also, their

Availability Globally wherein all the Coca-Cola products are bottled and distributed globally and

lastly the ongoing innovation, Coca-Cola Company has provided their customers continually

with the new product.

 Coca-Cola maintains an advantage over its competitors through its competitive

positioning strategy by providing a large product line, delivering outstanding customer service,

and extending its advertising initiatives. Coca-Cola devotes a substantial amount of its net

income to advertising, which contributes to its large market share. Its advertising approach is to

preserve customer recognition of the Coca-Cola brand, maintain a strong market presence, and

promote repeat purchases. Its marketing strategies, most notably the "Enjoy" campaign,

established a lasting emotional connection with clients.

Coca-Cola’s success can be attributed to its ability to spread happiness through its

products. Coca-Cola demonstrates that its products contribute to the satisfaction of its customers

by emphasizing brand over product. To remain relevant, the company also utilizes sponsorship

activities (e.g., sports sponsorships) and celebrity endorsements.

STRATEGIC MANAGEMENT

The Coca-Cola Company is the world's top manufacturer, distributor, and marketer of

non-alcoholic beverages. Over 400 brands, including waters, juice drinks, diet, teas, energy, and

coffees, are owned by the company. The company has made significant development in terms of

sales units, buyer loyalty, product portfolio expansion, and profitability. This article intends to

investigate its strategic approach and growth strategy that may explain for its recent expansion.

The Strategic Management Process

This is the process of defining the strategy of an organization. It also refers to a

procedure by which management selects a collection of viable strategies to enhance its

performance (De Wit & Meyer, 2010).

This is a constant process that studies and evaluates both the organization's

business and the industry in which it operates, and then sets goals to meet present and

future competition (Singh, 2008). Coca Cola has devised a four-step strategic

management method to ensure its future business success: environmental scanning,

strategy formulation, strategy implementation, and strategy evaluation.

Environmental Scanning

Before beginning a business, Coca-Cola Company conducts a thorough analysis

of its present and potential business environment. All significant external and internal

influences on its operations are continuously examined. Since the company operates on a

global scale, it places a great deal of emphasis on global environmental elements likely to

affect its business in order to succeed in its expansion process (Singh, 2008).
Environmental examination includes fiscal policy, employment legislation,

environmental restrictions, and political stability.

Strategy Formulation

It is the process of identifying the optimal course of action to achieve corporate

goals and objectives (Hill & Jones, 2009). Strategic formulation at Coca-Cola begins with

the drafting of mission and vision statements. This mission statement communicates the

organization's strategic direction to internal and external partners and stakeholders, and

emphasizes the organization's purpose and values (De Wit & Meyer, 2010). The

company's vision has aided in the design of its strategy, according to which it aims to stay

a low-cost leader in order to improve client loyalty and sales.

Strategy Implementation

It is the process of implementing the selected strategy in accordance with its

original design. It comprises modeling the organization's structure, resource allocation,

decision-making process design, and human resource management. The Coca-Cola

Company has implemented a quality management system that aids in guiding and

coordinating its actions to assure quality as part of its plan implementation process. In

addition, it establishes a control framework for directing organizational and managerial

systems and procedures. The organization thinks that success in a new market depends on

the design and maintenance of great strategy (De Wit & Meyer, 2010). Consequently,

quality standards have served as the guiding principles for its global strategy.
 Strategy Evaluation

Typically, it is the final phase of the strategy process. In this process, Coca has

prioritized the following activities: assessment of the external and internal environment

required for strategy design, performance measurement, and corrective action. This

evaluation procedure is essential for ensuring that an organization achieves its goals.

PRODUCT LIFE CYCLE

According to 12 Manage (2010, par. 7), the Product Life Cycle (PLC) refers to the stages

a product goes through during its creation. In order for a business to thrive in an environment

characterized by severe competition, it is essential for the business to implement effective

entrepreneurial tactics. One of the most important techniques that a company's management team

may implement is invention and innovation.

The result is that the company can achieve a highly competitive strategy relative to its

rivals. The Coca-Cola Company has effectively implemented the concept of product innovation

into its operations. As a result, the company has implemented multiple segments. Included in this

category are carbonates, fruit juices, bottled water, functional drinks, and Ready-to-Drink (RTD)

tea and coffee. These items are sold under many brand names (Spelman Research, 2003, p.7).

For these items to be successful on the market, it is imperative that the company's management

team consider PLC. PLC has four stages, including;

Introduction stage

After a product has been successfully developed, it must be introduced to its

specific target market. This adds to the product being accessible to the intended market.

This is the first step taken by the company to ensure that the product has appropriate

market awareness. In the introduction phase, significant expenses are incurred. For

instance, the successful introduction of a product to the market is contingent on how well

the company has tested the market.

 Created during the spring of 1886 by Dr. John S. Pemberton

 It was first introduced as a soda fountain drink

 Placed on sale for 5 cents a glass

 Pemberton’s Partner and bookkeeper. Frank M. Robinson suggested ‘c’s

would look good on advertising, which led them to the name “Coca-Cola”

Growth stage

The product has now entered the market. As a result of substantial sales growth,

the firm's profit increases. At this stage, corporations achieve economies of scale, giving

them a pricing edge. At this time, competition intensifies. This is because the industry

attracts many potential investors. As a result, organizations must implement brand-

building tactics. Market communication is one strategy.

This is accomplished by increasing the company's dedication to its marketing

effort, so ensuring the product's survival on the market. In addition, the firm's market

share begins to stabilize at this point. The Coca-Cola Company's marketing of its Bubble
Buzz product within the RTD tea segment has resulted in a rather high level of market

share. In 2003, the segment had the highest growth rate. According to Spelman Research

(2003, p. 3), the RTD tea industry has grown by six percent annually. This expansion has

continued over the past five years.

 In 1888, Pemberton sold Coca-Cola to Asa Chandler

 Chandler formed the Coca-Cola company in 1892 and by 1895 Coca-Cola

was being drunk in every state across America

 As demand grew, production increased and Coca-Cola was made available

in bottles rather than just through soda fountains

Maturity stage

The maturation stage is shared by all goods. At this stage, the level of competition

amongst competing companies is intense. This is due to the fact that all companies strive

to maintain their market share. In addition, corporations enjoy the highest amount of

profits during this phase. However, sales growth is moderate until they settle.

 Coca-Cola is currently on this stage

 To extend its mature stage Coca-Cola has developed the following

marketing strategies: product improvement, new models were developed,

it entered new market segments and enlarged its distribution channels.

REFERENCES

https://cookmyproject.com/blog/coca-colas-core-competencies/

https://pdfcoffee.com/strategic-management-the-coca-cola-company-5-pdf-free.html

https://studycorgi.com/coca-cola-company-product-life-cycle/

https://businesschronicler.com/competitors/coca-cola-competitors-analysis/#:~:text=Through%20its

%20competitive%20positioning%20strategy,to%20its%20high%20market%20share.

https://ivypanda.com/essays/strategic-management-the-case-of-coca-cola/

De Wit, B., & Meyer, R. (2010). Strategy: Process, Content, Context, An International Perspective. New

York, NY: Cengage Learning EMEA.