Determine two strategies that Coca-Cola is actually pursuing and two that is not pursuing
Comparing what is planned versus what you recommend is an important part of the case analysis. Do not recommend what the firm actually plans, unless in-depth analysis of the situation reveals those strategies to be best among all feasible alternatives. This exercise gives you experience conducting research to determine what a firm is doing now as well as what they should do in the next fiscal year.
Challenge
Complete the Strategies in Action; Assurance of Learning Exercise 5B of your text.
Step 1: Go to the Coca-Cola corporate website and click on Press Center. Read through the most recent ten press releases. If you are able to locate relevant information from other sites, that’s fine with me.
Step 2: Determine two strategies that Coca-Cola is actually pursuing. These strategies should relate to Coke’s plans for growth and development. Give some pros and cons of those two strategies in light of the guidelines presented in Chapter 5.
Step 3: Determine two strategies that Coca-Cola is not pursuing. Give some pros and cons of those two strategies in light of the guidelines presented in Chapter 5.
Part 1(b) Should be at least 200 words with at least 2 references that are in text citations and websites and based in the United States. This is a discussion response.
Coca-Cola has focused its attention on specific brands that have accelerated within their specific markets. In fact, they have reduced their brand portfolio from 400 to 200 master brands that have shown the greatest success from various countries (Coca-Cola, n.d.). This is a major growth strategy since Coca-Cola has chosen to pursue a stronger market penetration approach that will reach a greater targeted audience within a specific geographic location (David et al., 2020). However, it makes me curious what the data analytics will look like three to five years down the road once specific products have been removed from the lineup. Coca-Cola is also implementing a growth strategy that adds more emphasis to building its brand in different market segments based on data-driven insights from the customer’s journey, as well culture networking (Coca-Cola, n.d.). This idea is extremely creative as Coca-Cola is driving innovation through technology to reach a greater market network (Coca-Cola, n.d.). This strategy brings a bit of a hybrid approach to diversification, and market development to seek a more influential way to build a better brand to new consumers (David et al., 2020). Combination strategies have proven to be valuable for most companies, but they can also be costly as companies will tend to spend more money in their marketing approach to develop more diversified strategies (David et al., 2020).
Although Coca-Cola is directing more focus on implementing strategies to create sustainability by reducing carbon emissions, the company continues to collaborate with partners to drive these sustainable goals (Coca-Cola, n.d.). The company recently invested $137.7 million as venture capital funding to gain a networked approach (Coca-Cola, n.d.). This strategy could be categorized as a hybrid approach to integration as Coca-Cola is seeking to gain more control over their suppliers, distributors, and retailers to reduce carbon emissions within their footprint (David et al., 2020). As evident, this strategy will prove to be more costly once the company realizes that its approach to implementing eco-friendly options will discover more areas of improvement. The powerhouse beverage company should also put more focus on building strategies to reinvest in human capital and incorporate a stronger approach to DEI policies within their core values. Although this approach is not definitively mentioned in our reading this week, this strategy implements a deeper approach to culture diversification as the company invests more heavily in its mission statement and core values of its business model. The only con that I can think of when implementing this strategy is the additional costs that will need to be diverted from other approaches.
References
Coca-Cola. (n.d.). Growth Strategy. Retrieved from Coca-Cola: https://investors.coca-colacompany.com/strategy/gr…
Coca-Cola. (n.d.). Press Releases. Retrieved from Coca-Cola: https://investors.coca-colacompany.com/news-events…
David, F. R., David, F. R., & David, M. E. (2020). Strategic Management: A Competitive Approach. Boston: Pearson.
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