Coca-Cola turns 132 years old this year and still remains one of the most recognized brands in the world.
Started by John Pemberton in 1886, Coke, as it is affectionately known, is now served 10,450 times per second every day! Advertising has played a key role in Coke’s market dominance worldwide, since the beginning when John Pemberton invested $77 in advertising while he was only making a $50 profit.
Although there are markets where Pepsi has out-maneuvered Coke, worldwide, Coke is the market leader.
There are a number of marketing lessons local businesses can learn from Coca-Cola’s long history of marketing successes, as well as from their famous marketing blunder.
One of the most important lessons is the value of targeting emotions with your advertising. Who doesn’t remember the emotional appeal of a multi-ethnic choir standing on the hilltop singing, “I’d like to teach the world to sing…it’s the real thing.”
And what can be more nostalgic than the Christmas spirit…everyone has seen the mysterious Christmas gift-giver, Santa, drinking a bottle of Coca-Cola.
Have you ever noticed the Coca-Cola bottler’s trucks are always clean and in excellent repair? They “walk the talk”.
No Knee-Jerk Marketing – Remember the failure of New Coke, followed by the rapid return of Classic Coke? Coca-Cola blinked when a sweeter Pepsi product was winning the Pepsi challenge in blind taste tests. Coke overreacted by sweetening their New Coke to the dismay of loyal customers who wanted “the real thing”.
The most successful marketers hold the course and do not overreact to competitors’ campaigns.