Coca-Cola case study analysis makes it possible to say that its trademark is the most expensive in the world. Its cost to date is just under $70 billion. It is interesting to discover what business solutions, occasions, and innovative approaches led this company to such a great success and recognition.
The Importance of Business Research
Surely, every young entrepreneur, as well as the initiator of the start-up, and even many students of economic faculties thought about how to create a company and make it successful. Undoubtedly, the first step in this matter will be carrying out business research. It can be carried out in two directions of activity. The first is a comprehensive approach, it includes the analysis of a huge array of data on the economic situation in a certain industry, the degree of development of the idea and the market, the definition of the portrait of potential buyers and sales routes, the development of a promotion strategy and measures to increase brand recognition. But in order for all these actions to be successful, one can turn to the stories of companies that have already become famous and trace what decisions and at what moment have led them to success. Coca-Cola is one of them. Studying the history of this company from the perspective of advancement can tell us the key factors that determined its success, and also it can help to draw analogies and even to implement some decisions in practice. In the case of this organization, it was an original recipe and a completely new approach to marketing and advertising.
The Great Invention
The receipt of Coca-Cola was occasionally discovered. The inventor of the drink apparently did not suspect what kind of future is being prepared for his invention. Shortly before his death, he sold the recipe to various partners. This invention is interesting to study since it proves that an easy recipe is able to become a legend. Moreover, it is possible to make one more conclusion. Such a resear5ch shows that all the companies that are successful now implemented some innovation many years ago. Of course, in our time it is more difficult to find an innovative idea and to develop it. However, companies that managed this task are doomed to success.
After a while, a poor immigrant from Ireland, Aza Kendler, appeared in Atlanta. Only 1 dollar and 75 cents were in his pocket. Having an extraordinary commercial talent, he soon earned a small amount of capital and bought a recipe for 2,300 US dollars. He founded the “The Coca-Cola Company” in Georgia with an initial capital of $ 100,000. These events should be studied due to the following reasons. It can be proved that even with a small initial capital it is possible to start a successful business. All that is needed is to find a promising product or idea and believe in its future success.
The Coca-Cola strategy proves that two things are necessary to develop business: a good product and good advertising. Aza Kendler started the first in the history of the “Coca-Cola” advertising campaign. The company began its activity with the creation of the sales department. And since good advertising is not limited to a logo and a slogan, even if very successful, Aza Kendler also applied new forms of advertising activity for that time. He began mailing coupons for a free portion of the drink, as well as a variety of souvenirs bearing its trademark. The new non-alcoholic soft drink has gained increasing popularity. This company is worthy of study due to its marketing approaches. It should be said that Kendler implemented such marketing decisions that were absolutely new to the audience of that time. That is why they worked.
Innovative Marketing Solutions
The production of souvenirs, which advertises the trademark, has brought unprecedented success to the company. An easily recognizable trademark entered everyday life. The high quality of the drink and the beautiful advertising brought unprecedented success to the enterprise. The production of souvenirs was also a new marketing solution, it was unusual but effective, and this also contributed to the success of the company. All these prove the following statement. If a company wants to gain recognition, it should implement new marketing approaches. In out time it is especially relevant since an average consumer is rather tempting with a wide choice, availability and different advertising campaigns. That is why Coca-Cola planning should be researched as well.
New Approach to Packaging
Until 1894, the drink was sold for bottling. Two businessmen from Chattanooga received exclusive rights from Kendler for bottling and selling the drink practically throughout the United States. This situation shows how the demands of consumers were satisfied in the way they need it. The conclusion is as follows. A company should come from the necessities of its customers, and Coca-Cola did it. It is a great example to follow and study.
Struggling with Fakes
The Company’s development was not absolutely cloudless. As well as other popular products, craftsmen began to forge the drink. One of the means of protection of the registered trademark was the contour bottle invented in 1915. Now it is known to the whole world. However, this story proves that every successful business is prone to injustice actions. So it is worth to know where to expect villainy and how to fight with it.