Coca Cola Company Essay Example | Topics and Well Written Essays - 1500 words

Coca Cola Company - Essay Example Unlike many companies that have diverse products for specific market segments, Coca-Cola’s products are affordable for any market and therefore have more mass-focused strategies than individual group segmentation. Coca-Cola products, their sub-brands, have value to consumers of virtually any socioeconomic status and are conveniently priced to have mass group appeal. Demographic segmentation is usually the strategy of choice based on regional ages, incomes, and cultural lifestyles. There is no need for geographic, purchase occasion, or benefit segmentation since sales of Coca-Cola products will be conducted with the audience available during the Games presentations. Psychographic concepts should be included in the segmentation strategy to identify with diverse cultures from Asia, North America, Australia, and Africa. A common consumer need in this environment is thirst, with specific brand selections being the only distinction between what items sell in high volumes. â€Å"A s oft drink, especially a carbonated one, is a frivolous purchase†. This categorizes soft drinks as convenience products that are there to fill a specific refreshment need with multiple target audiences. Because of the reality of this product in relation to consumer needs, excessive targeting strategies would likely defeat the purpose of gaining consumer attention and also strain the marketing budget for ongoing, separate promotional materials. Therefore, targeting involves creating a singular strategy that will have mass group appeal.