Coca-Cola soft drinks are one of the most interesting products for studying the brand product life cycle (PLC) due to the significant success of the company. Coca-Cola is a leading global corporation that began selling its products in 1886 and expanded its activities to almost all over the world since then (Kanesan, Ismail, & Krishnan, 2018). Therefore, the production, promotion, marketing, and sale of soft drinks as the main product of the Coca-Cola Company represent a continuous life cycle of its product.
The Coca-Cola product’s long history reflects the successful marketing strategies that the company applies to the development of the brand. It is necessary to note that the duration of the product’s life cycle becomes possible due to the trust that the corporation has created regarding its soft drinks, considering the significance of PLC continuance. Thereupon, when bringing goods to the market to this day, the company involves customers in the evaluation of the product, which ensures customer satisfaction and loyalty to the product (Ammari & Jaziri, 2016). Establishing trusting relationships with customers can ensure fruitful collaboration and form a long product life cycle.
One can note that the establishment of trust between the company and the client has provided a strong brand value and, accordingly, its product, the Coca-Cola beverage. The growth of goods success depends on many actions that the company has undertaken and continues to conduct to promote its soft drinks. In this regard, it is necessary to consider a strategy aimed at distributing the product among the populations of different countries. The Coca-Cola Company achieves a unique approach to each case, ensuring the growth in demand for the commodity by attracting customers to assessing the goods and involving them in the joint development of the brand (Ammari & Jaziri, 2016). Hence, the corporation and its main fruit have reached international leadership in the field of soft drinks.
Changes in product properties along with the adoption of innovations reflect the development and improvement of the success of a brand fruit, being part of a marketing strategy. Therefore, it is important to note that Coca-Cola does not stop at what has been accomplished but creates new tastes of the classic drink that are able to meet the needs of customers from various target groups. In turn, this approach of the corporation provides an increase in the number of buyers, that is, adopters.
Coca-Cola develops its product manufacturing strategy based on the needs of various groups, including nationality, age, gender, and other characteristics of the target audience (Kanesan et al., 2018). Moreover, the main goods of the company have a high purchasing power due to the distribution of the product not only in stores but also in catering and leisure establishments. This provision reflects a strategy of adaptation to local markets and characterizes the stage of growth of soft drinks of a brand within its life cycle.
The position of Coca-Cola as a leader in the market, the worldwide fame of its product, and the transnational nature of the activity can underline the transition of the product life cycle to maturity. Nevertheless, despite the steady position of the Coca-Cola commodity on the market, it is likely that the company has not yet reached a maximum number of adopters that characterizes the continuation of the growth stage (Borna & Wahlers, 2018).
Therefore, it is possible to assume that cooperation with new countries can bring a new influx of customers to the brand’s goods, and it can prolong the product’s life cycle. It is impossible to exclude that the soft drink Coca-Cola will find new strategies for attracting new customers, which means that the commodity’s life cycle has not been completed.
References
Ammari, N.B., & Jaziri, E. (2016). How co-creating enhances the quality of a brand-consumer relationship, using the U&G Approach: The Coca-Cola case. Journal of Marketing Research and Case Studies, 2016, 1-17. Web.
Borna, S., & Wahlers, R. (2018). Product identity over time and the concept of product life cycle. Journal of Management and Strategy, 9(2), 27-33. Web.
Kanesan, S., Ismail, N.A.B., & Krishnan, K. (2018). Identifying market segments and targets for marketing strategy plan of Coca-Cola Company in Malaysia. International Journal of Business and Management Invention (IJBMI), 7(4), 77-80. Web.