Recently while indulging in my daily dose of social media, I stumbled upon this extremely eye-catching picture of Selena Gomez sipping Coca-Cola through a straw with a bottle that had her song lyrics printed on it. After some research, I also found out that it was a record-breaking picture that gobbled over 4 million likes on Instagram to become the most liked picture on social platforms.
According to Business Insider, the Coca-Cola Company is one of the world’s biggest beverage companies and has more than 3,500 beverages and 500 brands under its name. That’s a massive amount I would say and to prove it, another astonishing fact is that if you drank one beverage every day, it would take you almost 9 years to complete tasting each of the drinks produced by them.
Getting back to Selena Gomez, Coca-Cola has roped in the pop star for their “Share a Coke and Song” campaign where in Coca-Cola will be selling limited editon bottles that have lyrics from Gomez’s songs “Love you like a love song” and “Me and the Rhythm” featured on them along with other songs as well. This marketing strategy certainly promises to do the job for the brand taking in consideration the popularity of Selena Gomez. “Share a Coke and a Song” campaign is a sequel to the widely successful “Share a Coke” campaign wherein Coca-Cola had introduced bottles wherein a customer could print their names on them and share the drink with their friends. Replacing it with song lyrics makes it an exciting aspect due to the ever-growing popularity of music and the number of genres and chart-busters featured in the list of songs that will be promoted with the product.
SWOT is the acronym for Strengths, Weaknesses, Opportunities and Threats. It is an important tool used by marketers while strategising the company’s future plans and shelling out ideas while preparing the promotional tactics.
Taking Coca-Cola into consideration, after my research the SWOT analysis for the beverage brand could be as follows:
Strengths – Coca-Cola’s brand value and popularity makes it one of the biggest strength of the company. The brand has been tasting success since a really long time through their creative marketing plans which have been loved by people all around the world and have contributed a lot towards Coca-Cola’s rising revenue generation.
Weaknesses – Coca-Cola’s high dependence on carbonated drinks is one of the major reasons why it has faced the slight downfalls in certain regions or communities. The inability of the brand to promote their products as healthy beverages has been one greatest weakness for them. The brand has been a victim of negative publicity on many occasions as well.
Opportunities – With the introduction of various brands, the manufacturers could try and promote their healthy products such as the Dasani Purified Water and VitaminWater which could help them see their brand in a better position when it comes to environmental or health concerns.
Threats – Coca-Cola has a fierce competitor in the form of PepsiCo. and the two companies have been involved in great banter while promoting their products. The existence of local brands in various countries has been another concern for these beverage giants.
According to Tracy and Wiersema’s strategy, a company should give utmost important to Operational Excellence, Product Quality and Customer Intimacy.
How does Coca-Cola excel in these fields?
Operational Excellence – The availability of the product is one of the booming aspects leading to the rise in sales of the product. In most countries, the products are available very easily and at reasonable rates. The supply of the beverage has never been questioned and that has led to a boost in market sales.
Product Leadership – The Coca-Cola Company leads its market and has a higher recognition value over the other brands. Its position as compared to competitors is the brand’s driving force.
Customer Intimacy – The way to a customer’s heart is through what they see and feel and Coca-Cola makes sure their marketing campaigns are chalked in such a way that they catch the emotions of the customers and fulfil their needs.
Over the years, the Coca-Cola Company has been famous for their exceptional marketing strategies and plans and has been the customer favourites due to their face to face involvement of the consumers with their promotional tactics. It’s involvement with sports such as being the sponsors for the FIFA World Cup along with many other events and organisations has seen the brand rise in stature in the market and reach to the level it is on in the on-going era.
Bhasin, K., (2011). 15 Facts About Coca-Cola That Will Blow Your Mind. Business Insider. http://www.businessinsider.com.au/facts-about-coca-cola-2011-6#31-of-all-beverages-consumed-around-the-world-are-coca-cola-products-1 [Accessed on: 23rd July 2016]
Moye, J., (2016). Share a Coke® and a Song: Summer Campaign to Feature Lyrics on Packaging. The Coca-Cola Company. http://www.coca-colacompany.com/stories/share-a-coke-and-a-song-summer-campaign-to-feature-music-lyrics-on-packaging [Accessed on: 23rd July 2016]
Moye, J., (2016). Selena Gomez ‘Share a Coke and a Song’ Photo is Instagram’s Most-Liked Image Ever. The Coca-Cola Company. http://www.coca-colacompany.com/stories/this-selena-gomez-share-a-coke-and-a-song-photo-is-instagrams-mo [Accessed on: 23rd July 2016]
Taylor NF., (2016). SWOT Analysis: What It Is and When to Use It. Business News Daily. http://www.businessnewsdaily.com/4245-swot-analysis.html [Accessed on: 23rd July 2016]
Robertson N., (2016). Marketing Strategy and Plans. MPK732, Deakin University, Burwood Campus, 22nd July 2016.