Saturday, April 2, 2011

Chapter 10 - Product concept

The coca cola brand is recognizable by its name and its logo all around the globe. Coca cola is a global brand: 37% of the company’s earnings are from Brazil, Mexico, India, Japan and china, another 20% of the revenue is also global and its spread through the other countries coca-cola is marketed and only 43% of its income is in the U.S.A.
Coca-colas brand equity is valuable, coca cola earned the benefits of it brand throughout the years, these benefits lead to advantages such as brand loyalty when consumers prefer  coca-colas products over a different less known brand because they may trust coca-cola and believe the product sold is better than a similar product offered by different brands. The brand loyalty eventually led to consumers returning and continuing to patronize the brand and gain a huge advantage over competitors.
All of coca-colas products are consumer’s products, as coca-cola declares in their mission statement they are meant to “refresh the body mind and soul” of their consumers.
Coca-cola is a convenience product, their most profitable product line are carbonated soft drinks and they are available to almost everyone almost everywhere, from gas stations to restaurants delis and convenience stores, you have to put literally close to zero shopping effort in order to purchase a coca-cola beverage.  
Coca-colas product line has a depth to it, this is another advantage coca-cola has because a consumer has a variety of beverages to choose from, so even if individuals want to change their beverage they can still purchase one from the coca-cola company. As well as a variety of beverages to choose from the company provides the same beverage in different packages, individuals can choose between fountains, cans and different sizes of glass and plastic bottles depending on their needs, the bottles still have the shape uniqueness that has made coca cola bottles known by every eye.
Coca-cola does research and stays in touch with what consumers want, with this research the product line extensions of coca-cola grows globally and suits itself to customer needs and technological  development and still stays loyal to their original products that have brought the brand to where it is today.

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