Strategic Marketting of Coca-Cola
Strategic Marketting of Coca-Cola
Strategic Marketting of Coca-Cola
Table of Contents
Introduction................................................................................................................................4
PESTLE analysis................................................................................................................6
SWOT analysis...................................................................................................................7
Segmentation........................................................................................................................10
Targeting...............................................................................................................................12
Positioning............................................................................................................................14
7P’s of Coca-Cola.................................................................................................................14
Coca-Cola’s achievement.....................................................................................................15
References................................................................................................................................24
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Introduction
Strategic marketing plans for any company would enable us to discuss the effective
approaches toward sales and marketing analysis in order to obtain sustainable growth and
development. This strategic planning of the marketing analysis would help to understand the
core competencies of the marketing factors and aspects that might assist to enlarge the firm's
business and collaboration. This report would help to demonstrate the sales and marketing
barriers of the Coca-Cola Company and also discussed how well these can be mitigated for
strategic growth and development.
During the tenure of the pandemic, the business was thrust to start up online marketing
approaches along with offline approaches for global companies. Maintaining an omnichannel
marketing approach would assist to improve the sales and marketing planning for the
companies and would further result in enhanced sales and orders. This is actually a B2C
company because it sells its products to the general populace but not offers a DTC channel
that means selling of products “direct to customer” (Waller, 2010). It sells its products to the
retailers or other dealers and then it distributes to their customer. Enhancement of any
company can be carried forward by employing omnichannel marketing practices to make a
footprint in the digital marketing domain.
Coca-Cola is indeed the globe's biggest beverage business, with 48% worldwide market
dominance (Lacy-Nichols et al. 2020). And Coca-Cola is on the "Fortune Global 500 list”
nowadays, demonstrating that this corporation has already become a beverage market
behemoth.
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Figure 1: Global beverage volume of Coca-Cola
(Source: Chu, 2020)
However, Coca-Cola was first originally offered in clinics in 1886, with the very first coke
retailing for five cents as well as a median of 9 bottles served each day. Having looked, it's
difficult to realize that Coca-Cola produced approximately "$0.45" per day "134 years ago"
(Chu, 2020). Therefore, this article provides light on just what attempts Coca-Cola did to
establish the world's most well-known beverage business. Total carbonated beverages worth
$341.6 billion whereas Coca-Cola Company takes up 48.6% of the total market share of the
beverages company (Kumar et al. 2016).
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Figure 2: Comparison of the beverages brand
(Source: Chu, 2020)
PESTLE analysis
Political
Political factors of any business organization would be related to the governmental rules and
regulations that are imposed on the organization for expanding their businesses inside any
country. The political influence or regulating barriers should be overcome by any business
organization for sustainable growth and development.
Coca-Cola maintains a sophisticated and effective strategy to mitigate political barriers which
have been imposed on the company for selling their products and distributing their drinks in
the global market (Hassan et al. 2014). Accounting, tax, tariffs, etc. are associated with
political factors and these criteria should be fulfilled by the company in order to expand its
business within the target marketplace.
Economical
The economical factors associated with the micro factor analysis and these factors would help
to improve the economical standing of any company. In the case of Coca-Cola, they are
trying to cope with the situation to upgrade the taste of the products as well as packaging and
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other inventories. Budgeting of any product should be maintained as per the economical
conditions or the market value of that region to make a stand inside the marketplace.
Social
As per the demographic changes, Coca-Cola took up different strategies for market
penetration or product diversification. Effective marketing approaches would help to
accelerate sales and distribution. With the change of cultures, the company has changed its
product quality and added different flavors for successful competitive approaches. Besides
Coca-Cola, there are different beverage companies in the global market and therefore it
should take effective management strategies for maintaining the socio-economical value of
the company (Hassan et al. 2014).
Technological
Technological aspects related to Coca-Cola's marketing approaches include advanced
strategies for maintaining their supply chain, distribution channels, sales and order
management, stock management, and inventories in taste, quality, and packaging.
Technological advances should be employed inside the company's marketing and quality
management strategies to broaden the path of success in the market existence.
Legal
Any corporate organization should overcome political influence or regulatory restrictions in
order to achieve long-term growth and development. Coca-Cola employs a smart and
successful approach to overcome political restrictions that have been put on the firm in order
to sell and distribute its beverages in the worldwide market.
Environmental
Environmental factors include some issues or challenges that the company has been creating
to accomplish the production, supply, packaging and distribution of its products (Hassan et
al. 2014). The components or factors which increase pressure on the environment might resist
sustainable growth and development.
Internal factors
SWOT analysis
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Strengths Weaknesses
● Present more than 200 countries ● Health issues related to allergic
● 225 bottling partners and 700k reactions (Kumar et al. 2017).
employees worldwide ● Environmental pressure
● UK's top-selling brand
● Offers more than 500 brands
Opportunities Threats
● Quality product and brand value ● Environmental threats like the
● Utilizes robust marketing campaigns largest plastic polluter worldwide
● Pepsi is the biggest rival of Coca-
cola (Saeidinia et al. 2012).
Internal stakeholders
The key internal stakeholders of the Coca-Cola Corporation are the “Board of Directors”,
“Vice Presidents”, senior management and workers. There are merely a few persons that
operate as senior executives and simultaneously serve on the Board of Directors (Gupta,
2011).
Marketing strategy of Coca-Cola, positioned as a product of company, is apparent in all its
corporate strategies and activities. Strategies are used to manage product and service delivery
in an organized way and also to establish actions that will lead the corporation towards a
common goal. Coke's marketing strategy entails efforts to market its products internationally
and internationally as a brand name. The most critical stakeholders of the corporation such as
shareholders, consumers and employees are internal. There is potential for shareholder value
creation when a company invests in marketing rather than research and development
departments because marketing yields more immediate results and more money immediately.
When consumers have a positive experience of products, they will continue to purchase them
even after the promotion has finished. Employees on the other hand play an influential role as
well by creating jobs for other employees that would use these products.
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Fig 3: Stakeholder analysis
Strategic marketing plan of Coca-Cola addresses the major issues and objectives of the
company, which are reflected in its long-term strategy. This strategic marketing plan
addresses three key aspects that require an individual or organization to respond to a
particular situation or opportunity. Strategic Marketing Plan begins with Strategic Process
Analysis Methodology, which consists of both quantitative and qualitative approach. The
quantitative approach considers the data from several sources such as market research and
public opinion polls. It is used to develop an analysis that provides both quantitative and
qualitative information about any business situation or opportunity (Chu, 2020).
External stakeholders
The Strategic Marketing Plan of Coca-Cola identifies external stakeholders for the purpose of
understanding and relating to them. The external stakeholders include suppliers, customers,
society, governments, creditors (Gurzawska et al. 2017), and shareholders and Coca-Cola has
to maintain a wide range of external stakeholders for managing their businesses effectively
(Kumar et al. 2016). These entities will serve as the key drivers for Coca-Cola's future
marketing strategies. They represent both internal and external forces that influence and assist
Coca-Cola's overall marketing activities. AS a result of the Coca-Cola Company's strategic
marketing plan, 20% of the firm's revenue is from non-beverage products (Kumar et al.
2016). The firm has made arrangements with many private and public sector agencies to help
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promote its products. These partnerships help Coca-Cola to reach its target market by
encouraging consumers to try new products and being able to promote its brands as well as
growing sales through sponsorship deals. While Coca-Cola distributes its soft drink brands to
both national and international markets, the firm’s strong marketing presence extends from
just its network of retail stores as well as through marketing initiatives related to activation
efforts and events. Coca-Cola is one of the world's largest and most widely recognized
brands, operating in nearly 200 countries (Singaram et al. 2019). The company has a broad
portfolio of beverage types: still carbonated soft drinks and sparkling beverages, juice drinks
and smoothies, dairy and diluted beverages such as milk drinks and energy drinks.
It is evident that the Coca-Cola Company may value all partners. AS a result, they cannot all
exercise equal authority; they won't be motivated to do so either. Because they set the
company's future course, the "Board of Directors" and top management are the most
influential shareholders. Investors are important stakeholders because they can put enough
pressure on the company to influence strategic decisions. In a similar vein, the customers of
the organization are crucial stakeholders; however, they have little effect on the company's
operations.
Segmentation
Despite the fact that Coca-Cola was founded in the United States, the company has since
expanded worldwide. The company sells its products in more than 200 countries and attempt
to divide the market into towns, districts, and neighborhoods is accomplished through its
geographic categorization. While Coca-Cola focuses on "urban and suburban" areas, it also
maintains a commercial distribution network across the nation. This is because of the
awareness that as the business expands; people from outlying areas will be in demand.
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In the meantime, age, profession, family status, ethnicity, gender, generational status,
socioeconomic status, and citizenship are some of the factors that are taken into consideration
when subdividing Coca-Cola's demographic classification into sub-segments. Coca-Cola has
distinguished client groups primarily based on these characteristics.
(Source: edrawmind.com/article/coca-cola-segmentation-targeting-and-positioning.html)
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Targeting
The strategic market concept of Coca Cola is to focus on the wide range of customer groups,
offering a wide range of products and services. In particular, the company plans to target
those who are interested in health drinks and beverages. The main product line of Coca-Cola
is its traditional colas but it also offers non-cola items such as diet coke and its variants. The
target market for Coca-Cola is typically people between 10 and 40 years old. As such, the
primary focus of the product is to appeal to those who drink regular cola brands and other
non-cola beverages.
Coca-Cola has demonstrated how people consume coca-cola goods to fulfill various age
ranges. Therefore the optimum age demographic to address is persons aged 18 to 34, since
this age demographic has an extremely large number of possibilities. Since these age
categories that reside at home can have up to three individuals. The next age demographic
addressed by Coca-Cola includes 18 to 24-years old (Kumar et al. 2016). Coca-Cola doesn't
really approach this particular age demographic since it isn't big enough to focus owing to a
customer as well as the company's reputation has already been developed.
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Figure 5: Target market segmentation
This includes people who have a broad range of interests and are particularly health
conscious. Although the Coca-Cola Company is at the top of the competitive food and
beverage industry, it has a strong strategic marketing plan that focuses on three product lines:
Coca-Cola Classic, Diet Coke, and Coca-Cola Zero Sugar (). According to the company's
2016 Sustainability Report, it has sustained its position as the world’s most valuable brand
over past years with a high level of loyalty and a trusted reputation.
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Positioning
Positioning is about how products will compete with other products and activities that are
similar in the market and in the minds of customers. Customers are more likely to consider
purchasing an item if it is prominently displayed. A professional brand situating makes the
item sticks out and provokes purchasers' curiosity in a packed market where numerous items
offer practically identical advantages.
Coca-Cola claims that its beverages are hydrating and refreshing. Their products are intended
to satisfy their intended consumers. Coca-Cola beverages and a variety of other items are
certain to be associated with a pleasant time with partners and family as one approaches
routine exercise. Additionally, the company frequently advertises its high-quality products.
When people think of beverages of high quality, Coca-Cola is one of the first brands that
come to mind. Customers are able to choose from a wide range of beverages offered by the
company, all of which are pleasant to drink. According to Banutu-Gomez (2012), Coca-Cola
positions itself as a commodity that brings enjoyment and positivity into the lives of its
customers in contrast to certain other beverage companies. Last but not least, the company's
top priority is satisfying the requirements and requirements of its own global clients.
7P’s of Coca-Cola
Product: Product in the marketing mix would assist to recognize the products that the
company has been serving worldwide. Coca-Cola has more than 500 sparkling drinks in its
product timeline including Fanta, Sprite, Powerade, Dr. Pepper, etc. drinks which are the
best-selling products of coca-cola.
Price: Coca-Cola’s pricing strategy follows the competitive strategies for its existence in the
marketplaces. Its pricing is quite similar to the Pepsi brand and maintains a strong
competitive stand for the pricing strategy of its products and it also varies from country to
country.
Promotion: promotion of the marketing mix means how the company has been utilizing its
branding or marketing strategies to reach its customers with effective communication. It
spends a lot of money on advertising its brand and products.
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Place: place means where a company does exist or where it distributes its products or
services. It exists worldwide in more than 200 countries.
People: one of the key developments for any company is to motivated and rewarding system
according to employees need. In this case company provides financial and non-financial
incentive for employees. In other hand they also monitored and measure the performance in
the achievement areas.
Process: there are two processes which is followed by the company and that are
correspondently hidden and transparent. The company doesn’t disclose all the key features to
the consumer. The motto of the company is very clear to get the products at agreed time
without compromising the quality of the product.
Physical evidence: as the company’s focused whole population of our society, but there still
have special attraction on the young generation.
Coca-Cola’s achievement
Advertisement
Coca-Cola advertising may be shown on TV about every 15 minutes. Coca-social Cola's
networking staff is particularly proactive in reacting to users and clients 24 hours a day, seven
days a week. Coca-Cola invests 20% of its advertising expenditure each year to maintain its
differentiating approach and communications network (Kumar et al. 2016). To boost product
excellence and originality because then costs are elevated to meet client requests, this
provides a fantastic opportunity to capture the viewer's trust in order to ensure that first-class
charged rates pay the additional manufacturing cost.
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(Figure 6: Advertisement of Coca Cola for cans products)
Product innovation
Whenever a significant quantity of little ideas continues to develop and aggregate to a
specific amount, massive innovation occurs, resulting in significant shifts. Mutational
development poses hazards to culinary businesses. The market trend is harmed while the
company's long-term success is promoted by slowly increasing product prices. Coca-Cola's
strategy is a progressive improvement, or fully realizing the growth potential within a
container of small carbonated beverages, since the company is well aware of this idea. Coca-
Cola would have meticulously crafted its products well before the 20th century and
consistently introduced novel concepts. For instance, in order to distinguish Coca-Cola from
its rivals, the company created the distinctive contour bottle in 1916, which can also be
identified at night.
In 1923, Coca-Cola began being sold in six packages. Despite the fact that cardboard
packaging is now common; Coca-Cola's use of it at times was novel because the company
encouraged customers to bring their bottles back and drink more of them. In addition, it is
important to note that Diet Coke became a part of beverage history in 1982 as the first brand
expansion for both Coca-Cola and Coke (Chu, 2020).In less than two years; Diet Coke has
become the most widely consumed low-calorie beverage on the planet.
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Figure 7: Normal coke is most favored over the other product varieties
(Source: Singaram et al. 2019)
Aside from that, as we approach the twenty-first century, Coca-Cola has not just reinvented
its goods, but then also established a culture for consumers. For instance, while society
encourages everybody to seek out healthier beverages, carbonated beverages offer the
majority of people a bad perception. Coca-Cola understands consumers' problems, which is
why Coke Zero Sugar was introduced in 2017 using a synthetic aspartame sweetener (Hu and
Chuang, 2009). The Zero Calorie Plus is then introduced by Coca-Cola, which also aids in
reducing fat uptake and lowers triglycerides inside the bloodstream after consumption. Coca-
Cola has poured fresh life into several well-known and trendy brands, including clothing,
shoes, flashlights, and even cosmetic goods, and to some degree, it really has renewed its
attraction to the newer population of customers. Coca-Cola achieves such success in brand
development because they understand its goods well enough and create the greatest use of
inherent potential.
Brand culture
Brands are the wings of commodities, which indicate that products depend upon brand appeal
to fly far. Coca-Cola has matured into a sophisticated business that has its distinct unique
heritage after just a century of work. To begin, a unified digital representation seems to be an
efficient technique to amplify and prolong the marketing effect. The Coca-Cola Company has
strict and consistent regulations. For example, Coca-Cola uses vivid red as its corporate color
on everything from employee uniforms to commercial labels. People would eventually
associate vivid red with Coca-Cola products and consider purchasing them when they saw it.
On the other hand, to buy Coca-Cola products, they would chase after something like the
showcasing highlights of the colossal red marking. Second, establishing a branding strategy
necessitates brand exposure. Take, for instance, the Qingdao Coca-Cola company, which
provides vans with mobile advertisements that operate on the streets, provides a significant
number of free canopies featuring vibrant Coca-Cola colors for sale spots, and making the
Coca-Cola brand widely known in this area. Moreover, the Coca-Cola business is worried
about the development of otherworldliness.
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Chapter 5: Risks and challenges
This section would be helpful in bringing to light the risks and difficulties that the company
generally encountered during its market penetration across the provinces of China.
Coca-Cola's decline from its previous splendor can be explained by a concept. Indeed,
a global surge has been sparked by milk tea and fruit tea brands led by "HEYTEA,"
"COCO," and "GongCha".
These beverages share a few characteristics: the wrapping is bashful and explained;
the enhancement of "milk tea" shops has all the earmarks of being newly made,
traditional model, for young individuals' steady quest for beauty and styling, as well
as the store has turned into an incredible area to wind up taking pictures and
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gathering; People’s perceptions of milk tea had already been influenced by branding
and discussions, which gave milk tea a delicate and delectable emotional value and
endorsed their sense of authenticity.
Existing Rivalry
Coca-Cola is indeed a leading company throughout the beverages and carbonated beverage
sectors all over the globe. Coca-competition Cola's is Pepsico, yet Coca-Cola Corporation is
far bigger than Pepsi, and Pepsi Colas maintains market domination with in the US. There are
numerous rival corporations inside a variety of beverage sectors, however Coca-Cola as well
as PepsiCo prevail mostly in marketplace worldwide, and neither of these businesses can
match their market presence.
Threat of New Entrants
The risk of fresh rival entries inside this business is minimal since there is insufficient
competitive manufacturing strain since Coca-Cola as well as PepsiCo have such a solid
business recognition inside the beverages industry, making it difficult for the newcomer firm
to compete. Currently there are basically two firms that distribute globally, which makes it
difficult for new enterprises. Both of them have large expenditure in production as well as a
robust logistics and marketing network internationally. As a result, they have huge
efficiencies of magnitude, which aids in lowering manufacturing costs. These variables
influence new entrants' capacity to participate in low-cost items, which is why the new
entrant's stream is quite low.
Threat of Substitute Products
The danger of alternative goods is particularly strong inside the carbonated beverage sector;
for Coca-Cola replacements, for example, power hydrate, both hot and cold coffee, spring
water, cappuccino, and smoothies. The Coca-Cola Corporation has concentrated on such
industries in order to grow. New market movements are centred on wellness, so consumers
choose to be bottled liquid, while power drinking water and smoothies have become
incredibly common with just this tendency since they claim such items are better than sugary
drinks. Caffeine is contained in sugary drinks, thus many drink espresso for with this reason;
tea also serves as a replacement product.
Supplier Power
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Coca-Cola possesses limited supplier strength, despite being the world's leading beverage
corporation, as well as the provider is indeed a producer manufacturing because the Coca-
Cola firm does have a specialized shareholder in numerous bottled elements. Because this
bottled machinery may be readily provided by other firms, supplier negotiating strength is
modest. Because the basic ingredients, which comprise sweets and water, are typical, the
provider may be simply changed.
Bargaining Power of Buyer
Coca-Cola Corporation does have a large buyer base, thus these refreshments might well be
found in supermarkets, coffee shops, and budget shops. Several firms sell sugary sodas at
some of these establishments again for reselling of their products. As a result, the customer
must have a substantial number of discounts. Because supermarkets especially major retailers
purchase a huge quantity of drinks, the corporation allows consumers to do so for a
discounted rate. Currently, customers' thoughts are shifting and concentrated on healthier
meals and beverages, and buyers or shift to demands of customer healthier adoptive families
push alternative carbonated beverage items.
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Chapter 6: Reflection on coca cola’s marketing approaches
Introduction
Gibbs' reflection cycle can help to construct any reflective piece with proper understanding,
knowledge build-up, analysis, and strategic planning for a better definition of any project or
program. This cycle has been followed up here to present a self-reflection on the course as
well as the assignment.
Descriptions
Describing Coca-Cola's potential barriers regarding marketing growth and sales improvement
followed by a strategic marketing plan for diminishing such issues or mishaps for shaping a
bright future for the company's sustainable growth and market existence. This course has
given me such opportunities the understanding and defining core marketing aspects and
leadership styles for greater future opportunities and concreteness.
Feelings
Throughout the course, I got enormous help from the college faculties and group members
for completing this project successfully and effectively. I experienced truly exciting feelings
whenever I attended the classes and group projects because these not only provided me
knowledge base but also assisted to build up my personal and professional potential for
leadership and corporate culture.
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Evaluations
I have understood how a company should maintain its marketing and promotional domain for
effective management and business expansion. At first, I defined the issues and constraints of
the Coca-Cola Company’s marketing barriers and challenges than finding out a strategic
approach for the company's marketing empowerment. The evaluation section has given me
enough databases and information regarding marketing aspects of coca cola Company
followed by evaluating strategic marketing approaches for the company's sales and
advertising concepts as well as customer retention concepts. Market penetration is one of the
core competencies of the marketing approaches and this can also be evaluated properly
maintaining the pros and cons of the company's marketing growth and further development.
Analysis
It's truly worth mentioning that I have acknowledged effective and potential analysis
techniques for a company's marketing and sales management. This course also provides
effective knowledge about how a company should maintain its marketing and promotional
techniques for market penetration and product development. Throughout the course, we have
analyzed coca-cola company's marketing constraints as well as advancements so that it would
provide us sufficient potency for defining and managing any company's marketing analysis
and procurement strategies for sustainable development of the company. First, I defined the
concerns and restrictions of the Coca-Cola Company’s marketing hurdles and challenges
before determining a strategic plan for the company's marketing empowerment. Without
proper identification of the threats to the company's sales and marketing management, it
would become difficult to dissolute the intensity of the threat factors which have been
affecting very badly for the company's strategic growth and development.
Conclusion
Understanding the marketing aspects and constraints would be one of the most effective
strategic plans for the company and this assignment has provided us with such learning
outcomes for a better understanding of the concepts and theories related to sales and
marketing. Decision-making is one of the most effective practices of this assignment which
also help in building future career path and professional advancement.
Action plan
Taking up the right decision at the right time is one of the most meaningful reflections of this
course because we have to define the company's marketing barriers and decisions for
mitigating those issues and constraints. An action plan would help to improve our practical
knowledge, not only for this assignment purpose but also for professional purposes.
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