Company Selection and Product Analysis
Established in 18806, Coca-Cola Company was and has achieved to penetrate in over two hundred countries, where it market more than five hundred of its brand and many more products. The company explains its operations system as a global leader in business operations on a local scale and in every community where it operates. The company is driven by the strength which is bestowed on the ability to reach the global community while maintaining a local focus. Coca-Cola has partnered with over three hundred bottling partners in the world (Bohatala, 2016). The company manufactures and sell soft drink and concentrated beverages. It currently owns a collection of different brands and performs the task of marketing its brands to the consumers. This company operates from Atlanta Georgia, where the headquarters are situated, although it has many regional headquarters spread all over the world.
The company has a strategic vision of which adds on to “why” and “how” statements. The company is driven by the vision of serving the framework for its roadmap and direct every aspect of its business through the description of what the company needs to achieve a sustainable and quality growth. The product line of this company comprises of Energy Drinks, Soft Drinks, Juices, Tea and Coffee Sports Drinks, Water among others. The target market for this company is a whole line of different people ranging from age, group, sex, and lifestyle. Coca-Cola targets all market segments with each having a wide variety of products to choose. The market is therefore relatively large since it is opened to all genders which allow for a greater diversification of the products offered.
Sprite Product Analysis
Sprite is a brand that is popular in the global market. The product has a clear lime flavored drink that is a non-caffeinated. Sprite is the second global brand for Coca-Cola Company. It is considered as the largest brand of Coke in the Chinese market, the second in Indian and the third in the American market (Bohatala, 2016). It has been targeting the teenagers and has ever since developed advertisement that is geared towards this market segment. The brand of this product is developed towards having a refreshingly irreverent and honest perspective of life, a brand that has gained recognition as refreshing mind and body. However, the potentials for this product have not been exploited as much as those of the leading brand, Coca-Cola.
The SWOT Analysis of Sprite
One of the major strengths of this product is its distribution strategy. Sprite is more of a brand than a product which is distributed in about two hundred countries around the globe. The brand receives a major backing from the mother company, Coca-Cola which has enabled the product to have an access to the distribution channel used by this company (Bhasin, 2017). The product has been differentiated to a great level. The communication of Sprite is also differentiated. For example, a close rival, Pepsi utilizes a brigade of the line up with Sprite communicating values, smartness and youthful to the customers. This differentiated communication strategy of Sprite gives the product an advantage over the rivals.
The product has a strength from the financial backing which it receives from the mother company. This has been facilitating the brand in investing in operations such as research and development, and marketing campaigns. Another strength if Sprite is its color. The product has a clear presentation which makes it become an additive for various drinks such as Cocktail. The lime flavor of this drink also gives it an advantage that is preferred across the world.
A major weakness of Sprite is its property of being an aerated drink. In the prevailing circumstances where people are cautious of their health, the product stands to receive a decline in its popularity and market penetration.
The Sprite brand stands a major opportunity of expanding and building a desire of consumers for the product. This product does not have the pull that is exhibited by Coke and Pepsi but stands a great chance to exploit that potential. The brand leverage the brand image that has been created by Coke over a long period. Sprite has already benefited from this goodwill in the global market. Although the brand is fairly established, it can be improved further by increasing the expenditure on advertising and marketing the product.
A major threat to this brand is competition. The major competitor for Sprite, Pepsi 7 Up has a strong distribution channel and has achieved substantial recognition in the market (Bhasin, 2017). Other aerated drinks are including Coke are equally important competitors for Sprite. This category is defined by both direct and indirect competitors, which increases the competition on daily basis.
Pest Analysis of Sprite
The brand is faced with the challenge of meeting strict regulations especially in while establishing in new markets. Some of the challenges that the brand has to observe includes the taxations systems, labor laws, and accounting regulations.
The product is distributed to hundreds of countries which have varying customs, tastes, desires, and cultures. This, therefore, means that the brand has to adjust the patterns of production, marketing, and distribution.
The brand, being a multinational product faces different cultures whose demands must be met. For example, the American market priorities in the health benefits while the same aspect is not common in all markets segments (Frue, 2016).
The advancement in technology has facilitated the brand in mass production and cheaper cost. The brand exploits the social media in connecting with the audience and in positioning the product in the market.
Current Marketing Strategy
The most common marketing strategy that is used by Sprite is segmentation. This strategy has helped the brand in defining the appropriate customer group and therefore developing the product to suits the needs of this segment (Bhasin, 2017). This strategy aligns with the strategic vision of the company on why to develop the product and how to develop it. The marketing strategy effectively represents the product to the market especially through social media, which is a common tool for the market segment. This strategy has been effective in the development of the brand since it allows the company to develop the product basing on the consumer demands.
Also Study: Sprite Marketing Planning Project Report
- Bhasin. H (2017) Marketing Strategy of Coca cola – Coca cola Marketing Strategy.
- Bhasin. H (2017) SWOT analysis of Sprite.
- Bohatala (2016) Sprite Marketing Planning Project. Accessed on 13/01/ 18 from https://bohatala.com/sprite-marketing-planning-project/
- Frue. K (2016) PESTLE Analysis of Coca Cola. Accessed on 13/01/2018 from https://pestleanalysis.com/pestle-analysis-of-coca-cola