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Importance of ethical decision making in business
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Importance of ethical decision making in business
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10 Lessons in Marketing Brilliance The first article I chose from the provided list was 10 Lessons in Marketing Brilliance by Jennifer Wang. As the article’s title clearly states, the article is about ten examples of successful marketing. First is the advertising campaign for the Contagion movie where scientists carefully used bacteria, mold, and penicillin to spell out the movie’s title. The take away from this example is to use creativity and innovation in marketing by implementing guerilla strategies. Next is the Slurpee Unity Tour by 7-Eleven in which the company used a Slurpee joke from President Obama as inspiration and endorsement. This example shows the importance of paying attention to current events and timing. Third, Lululemon used …show more content…
While this article did not discuss white collar crime in the business itself, this article was written during a recession, which is a peak time for fraud. The systems Aflac has in place help prevent fraud while being good to employees. Since employees are paid by performance, they get what out what they put into their work. This is rewarding to those who work hard and are dedicated to the company. On the other hand, the transparency of Aflac holds each employee accountable to good morals. Overall, the company has successfully remained ethically sound during a difficult …show more content…
First, Coca Cola Company is in the maturity stage of the product life style. Due to profitability complications the company is currently trying to reinvent itself to continue to meet stakeholder demands and compete with competitors. It must be successful in this venture to avoid becoming a takeover target. The four Ps of marketing are also evident in this article as the company works to increase sales and revenue. The company is investing into new products such as Monster Beverage Corporation items, non-soda drinks, and more health friendly sodas. The company is increasing the distribution of these products to meet customer wants. In order to improve revenue, the company is increasing the price of its products, while using savings to support promotion efforts. Finally, this article is a fantastic example of outside factors that affect sales. The current health trend in society is causing fewer sales of sugary beverages. On the other hand, troublesome foreign markets in China and Brazil are causing losses as will. These are factors Coca Cola Company cannot control, but most certainly address to
The company known as Coca-Cola today was started in September of 1919, but the first Coke brand was served as early as 1886. Since that time it has grown to be one of the most globally recognized brand names with a stock value of $167 billion. Coke’s plan has always been developed with the future in mind. Right away the company realized that it was more profitable to manufacture the concentrate used to make carbonated drinks than to bottle it. From that point on they saw the entire world, not simply the originating country, as their desired market. It seems only practical that the company should pursue this agenda until conquered then focus the effort on expanding into different product lines. This logical idea has catapulted them into the much sought after position of number one.
Coca Cola Company has over 300 different brands across 200 countries. The company offers customers both carbonated and non-carbonated beverages which include fruit drink, fruit juice, sports drinks, bottle water and coffees. To stay ahead of the competition, Coca Cola is always developing new and existing brand locally and globally. The company does a good job investing a lot of money in marketing campaigns. These campaigns are meant to help with spreading awareness so that customers can stay inform of new and existing brands.
Invented in 1886 by Dr. John S. Pemberton, Coca Cola has become known for its recognizable brands and distinctive taste. Coca Cola Enterprises falls under the beverage industry and reaches consumers in over 200 countries, having the world’s largest beverage distribution system. In today’s market, the number of daily sold Coca Cola beverages averages 1.9 billion. Its mission is to “refresh the world, inspire moments of optimism and happiness and create value and make a difference” (Coca Cola website). Its vision serves as a framework to guide all aspects of the business to continuously achieve sustainable quality growth. Coca Cola’s recognizable brands and distinctive taste has created one of the world’s largest beverage systems that focus on its mission and vision to continuously sustain quality growth.
The social issues in this contemporary world tend to cause adults to begin worrying about their health at around age 37. This shift in the views of the adult population has forced Coca-Cola to expand into the sport drink market by producing Powerade. Along the same line of thought there are many people that are diagnosed with diabetes. This causes them to need to stay away from sugary drinks such as Coca-Cola. They have faced this challenge by creating of Diet Version of their ever so popular soda. These reactions to the social needs of its customers has aided Coca-Cola in maintaining its business and offsetting decreases in revenue from these two large groups of consumers.
Coca –Cola (KO) is one of the world’s largest beverage companies. Company was incorporated in September 1919 under the State of Delaware law and headquarters is located in Atlanta Georgia. But from 1886, company established its brand in US (Coca-Cola, 2012, p. 1). Currently company is providing for more than 500 varieties of non-alcoholic sparkles to the customers around the world. Apart from this, company also serve for still beverages that includes enhanced water, water, ready-to-drink, juices, energy drink, sport drinks and so on.
Coca Cola should focus on growing its supplies to food stores. As noted earlier, the food store buyers are considerably consolidated: with numerous supermarkets and chain stores. Given that they provide shelf spaces that are premium, they command depressed, or lower, prices. Coca should be more aggressive in investing in the production of substitutes such juices, coffee, and water in addition to its core products. It should continue challenging its main competitor, Pepsi, on the advertising and differentiation fronts as opposed to pricing
Coca-Cola’s goal was to propel Coke to be the number one beverage in the market. In addition, the company looked towards diversifying their portfolio of offerings by introducing other lines of soft drinks. As competitors such as Pepsi infiltrated the market, Coca- Cola lost sight of their company’s objectives. Executives became immersed in other issues such as government allegations, syrup prices, ownership of company franchises and ignored the principle issues such as the marketing and sale of their product.
As the world 's largest manufacturer and distributor of non-alcoholic beverages, Coca-Cola is certainly no stranger to global marketing. Established in the US, Coca-Cola initiated its global expansion in 1919 and now markets to more than 200 countries worldwide. It is one of the most recognizable brands on the planet and also owns a large portfolio of other soft drink brands including Schweppes, Oasis, 5 alive, Kea Oar, Fanta, Lilt, Dr Pepper, Sprite and PowerAde. Despite this, Coca-Cola often struggles to maintain its market share over its main rival PepsiCo in some overseas markets, particularly Asian countries.
Moving to the facts from analysts, the authors informed that, “Neither company releases sales or profit figures for the country, but analysts say Coke has 52% of the carbonated soft drink market, vs. Pepsi 's 32%. Coke also has the top soda brand, Sprite. But Pepsi-Cola is No. 2, while Coke 's flagship, Coca-Cola, is third” (Einhorn and Byrnes, 2009, p.70). According to the facts from analysts provided
The Coca-Cola Company distributing the Coca-Cola product has faced many macroeconomic variables that indicate trends in the economy. A reduction in consumer confidence in the United States, resulting in lower product sales, has been offset by rising sales in overseas markets. Coca-Cola has combated problems such as unemployment, global warming, and rising interest rates. The Coca-Cola Company looks to new programs to encourage employment, additional ways to provide water for their product, and good management to maintain a healthy credit rating.
coca cola company has been noted to be among those with successful business strategies in the world market. Also, it is a large corporation with over 70,000 employees. It has established its brand in over 200 countries including Japan. Out of the 70,000 employees, 59,000 are spread out in the 200 nations across the globe. The case study provides the history of coca cola Company regarding strategies it has employed in the past and the rate of their success. The one-size fits all approach used by Goizueta served the company till his successor took over in the 1990s. The company’s primary problem was crafting and executing an effective strategy to utilize its
Weaknesses – Coca-Cola is a very successful company with an impeccable social media following. Word of mouth is probably a strength, but only when feedback from consumers is positive, but there are people who are against Coca-Cola and their products. Even though Coca-Cola produces over 200 brand products, Coca-Cola lacks the social media popularity of other brands that they produce (Moth, 2013). Many drinks that they produce are extremely popular such as Coke or Sprite, but there are a lot of Coca-Cola products that are unknown, unseen, and unavailable for
Considering individuals are becoming more health conscious it would be beneficial for Coca Cola to continue producing even more healthy products. Producing healthier drinks could potentially get their products back in schools. Researching into cheaper materials as well as environmentally friendly alternatives to plastic would be another recommendation. The main concern for Coca Cola is water supply. Without water Coca Cola would not be able to stay in business. It is recommended for Coca Cola to reduce the amount of water it uses. They have already begun a goal to improve water use. “Our 2020 goal is aggressive and builds on the 21.4% water efficiency improvement we’ve made since 2004. We expect to increasingly assess not just the quantity of the water used to grow our product ingredients, but the impact of that use as well” (Improving,
Control of market share is the key issue in this case study. The situation is both Coke and Pepsi are trying to gain market share in this beverage market, which is valued at over $30 billion a year. Just how is this done in such a competitive market is the underlying issue. The facts are that each company is coming up with new products and ideas in order to increase their market share.
Learning from experience Coca-Cola has had some fierce competition over the years but nothing in the form of an entire health market shift like now. As well as mounting political persecution of its products like they are facing today. They must rely on past experiences to get through but likely will need to start studying the new trends to stay relevant.