International Business-Coca Cola - 2506 Words

Coca Cola: International Marketing Mix INTRODUCTION: This scope of this essay is to discuss the international marketing mix of Coca Cola, which is one of the biggest brands in the world. The debate between the global standardization and local adaptation of the marketing mix has been going on for more than four decades without a resolution (Agrawal, 1995) and globalization trends starting in the early 1980’s has further fueled the debate (Jeong, 2000). This has led the global companies to make the critical trade-off decision between economies of scale resulting from standardization and the cultural prerequisite of local adaptation. This essay looks at how one of the most successful brands, Coca Cola manages their marketing mix in a global†¦show more content†¦Theorists (Nikolaos Vlasis, 1997) believe that the difference between standardization and adoption is in degree rather than in kind. Theorists further argue that this difference should be seen as continuum (Melewar Claes, 2004). According to them on the left side are companies with highly decentralized, multi-local operations and products. On the right side are the totally integrated and globally advertised brands and companies. In the middle are companies that increasingly standardize brands or products but still adapt to local differences. MARKETING MIX OF COCA COLA: Coca-Cola is a truly international brand as it operates in more than 200 countries around the globe. The company knows that strong global brand is the key to winning international consumer, but creating effective and strong brands across the barriers of nationality, geography, language and culture is a complicated task. Therefore marketers (Pendergras, 1994) consider international consumers as segmented and thus the needs for each segment have to be satisfied in order to build a strong global brand. According to marketing theorists, consumer market can be segmented on the basis of geographic, demographic, psychographic and behavioral variables (Dibb et al, 2001). On the other hand, the economies of scale, the economies of scope, strong brand equity, cost containment and quality control has driven the company to standardize some ofShow MoreRelatedCoca-Cola: International Business Strategy for Globalization10128 Words   |  41 PagesInternational Trade Academic Research Conference ( ITARC ), 7 – 8th November, 2012, London.UK. COCA-COLA: International Business Strategy for Globalization Michael Ba Banutu-Gomez William G. 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