How many products does Coca Cola have
From start-up to global corporation
The Coca-Cola Company recently announced plans to transform the company into a Total Beverage Company. This is to be achieved by realigning the growth strategy to reflect changing consumer tastes and changed purchasing behavior. According to President and Chief Operating Officer James Quincey, this new strategy requires a greater focus on building and bringing to market “consumer-centric” brands, including more low and sugar free varieties and beverages in new product categories.
Read about ten other business decisions over the past 130 years that have transformed Coca-Cola from a novel drink served in a small Atlanta pharmacy to one of the most famous brands in the world:
1886-1940s: Coke for a nickel
Coca-Cola's early leaders firmly believed that their product had to be affordable and widely available. To accomplish this, the company limited the price of a Coke to five cents - or a nickel - for over 50 years. Despite the burden of two world wars and the Great Depression, the company insisted on making this attempt, because the greatest possible acceptance of the product could best be guaranteed if Coca-Cola was affordable for everyone. The stable price meant that there was more and more demand for the product, which in turn drove the bottling companies to buy more syrup to make the product.
1894: The invention of the tasting voucher
Although Coca-Cola was a great tasting product, many consumers outside of the southeastern United States were unfamiliar with it. To counteract this, Asa Griggs started Candler, who suggested the recipe for Coca-Cola to its inventor, Dr. John Pemberton bought in 1888 to give out free sample vouchers to those who wanted to try a sip of Coke. From 1894 to 1913, more than 8.5 million vouchers were redeemed for a free coke. By that time, one in nine Americans had tasted Coca-Cola.
1899: The creation of the Coca-Cola system
1915: Introduction of the iconic contour bottle
1940s: Coca-Cola in wartime
Diversification of the 60s: Minute Maid, Sprite, TaB and Fresca
1982: Diet Coke
In the late 1970s, Coca-Cola began developing a new drink that would boost Cola sales and meet the growing need for low-calorie beverages. In 1982 the company introduced Diet Coke as the first extension of the Coca-Cola trademark to a great deal of hype. Although there were initial concerns that a new diet drink might weaken the brand, Diet Coke made it to the top of the sugar-free beverage market in the first year of its launch. The introduction of Diet Coke marked an important milestone for the company as it marked the beginning of a new era in which the company took risks and introduced new, unique beverages that met the changing needs of consumers.
1985: A new Coca-Cola
In 1985 the Coca-Cola Company tried to revive the cola market and withdrew its flagship product from the market to replace it with the New Coke, which had its recipe changed for the first time in 99 years. Although this introduction was initially dismissed as the business faux pas of the century, some analysts viewed it as an unintentional marketing stroke of genius. Amid negative media coverage, protests, letters, phone calls and consumers trying to hoard as much original Coke as possible, an emotional bond between the Coca-Cola brand and its consumers was recognized. At a press conference announcing the return of the original Coke recipe, then President and CEO Don Keough stated, "The company's passion for the original Coke was a big surprise." After the original formula was brought back as the Coca-Cola Classic, the drink regained the title of America's Most Popular Soft Drink.
Late 1990s and early 2000s: Change to a “general beverage manufacturer”
In the late 1990s, Coca-Cola began talking about moving from a primarily carbonated beverage company to a “general beverage company”. The numbers of various early product launches indicated a rapidly growing number of non-carbonated beverage consumers, particularly in the US market. In 1999 Dasani was launched as the company's first water brand in the USA, Simply Juices followed in 2001, Gold Peak Tees in 2006 and the last time vitaminwater and smartwater were bought in 2007. Today, these names are among the Company's 20 brands with more than $ 1 billion in retail sales annually.
From today to the future: Stay on the ball with consumer trends
With consumers looking for new and exciting beverages around the world, the Company is looking for modern ways to capture growing trends in new ways by acquiring shares in rapidly growing beverage companies. In 2007, Coca-Cola North America created a Venturing and Emerging Brands (VEB) team to track and identify the next generation of multi-billion dollar brands and add them to their portfolio. VEB acts partly as a venture capitalist and partly as a brand developer who has bought or invested in companies such as Honest Tea, Zico, Suja and Core Power. Outside of the United States, the Company also endeavors to continue to acquire or invest in brands that respond to the explosion in consumers and the variety of beverages available around the world. Recently announced global acquisitions or investments in AdeS *, Latin America's leading soy-based brand; Chi Limited, a successful producer of milk and juice beverages in West Africa; and China Culliangwang, a producer of plant-based protein drinks made from high quality agricultural sources.
The company has seen steady growth in carbonated beverages and even an incessant rise in the original and popular Coca-Cola brand.
* depending on the necessary regulatory approvals and certain closing conditions.
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