Coca Cola Market Segmentation Essay

excogitationCoca cola utilizes both internal and external marketing strategies to larn a competitive advantage over its competitors becoming a palmy beau monde with great earnings. Addition aloney, the company claims that the innovation is at the heart of everything they do add to their success. The company has segmented its market in terms of demographics, psychographic, geographical and lifestyle.DiscussionsAfter building a strong reputation and brand image, the Coca-Cola companionship changed its name from Coke to New Coke in 1985 as they go along to offer customers a better taste. Demographically, although the company seems to focus on the social unit nation globally, its particular target is the young generation showing the readiness giving element to the customers. According to world demographics 2013, 57.4 percent of the global population lies in the age bracket of 15-54 years of age. The statistics provide a surface indicator that the Coca-Cola focus on the largest demographic in the world with possible customers thus a right strategy to undertake sustainability and growth. In think to family size, the company serve its in different bottle sizes for families to choose harmonize to their sizes ranging from 200ml to 2 Liters pack (Global serviceable Drinks Industry Profile, 2014). The Coca-Cola Company practice geographic segmentation in terms of regions.Through the price remains uninterrupted in all parts, the brands vary according to the weather of the region. For example, in Hong Kong during spend season Coca-cola has a unique brand called freezing coke (Global operable Drinks Industry Profile, 2014). The strategy ensures continued brand loyalty by providing all weather drinks at the same price. Further in terms of stern ofconsumption. Coca-Cola puts up vending machines in butt againsting terminus and stations to ensure access to all. Locally in states the company provides equal and continuous render to the local shops. Low-income earners have access to returnable glass bottle with mean(a) income earners having plastic non-returnable bottle and Coke tin for broad(prenominal)-income earners.In psychographic segmentation, Coca-Cola distinguishes customers into different groups establish on buyers values, lifestyle or personality. Although people deal the same demographic group, they exhibit diverse psychographic profiles forcing Coca-Cola to design and manufacture products accommodate personality. In terms of lifestyle, consumers portray different lifestyles. Coca-Cola Company presented a more portable packaging for their soft drinks in order to provide for the advanced ever busy user. The company endows its products with brand personality in pull out with a particular consumer personality. Further in observing culture and curiously the diet matter, Coca-Cola produced health conscious products such as Coke zero(a) and Diet Coke (Global Functional Drinks Industry Profile, 2014).ConclusionThe Coca-Cola C ompany boasts of high market and business share globally. The company has continuously gained more clams through use of different marketing strategies and market segmentation. Through segmentation, the company has managed to ensure continuous customer satisfaction by providing goods and services that meet all the social classes. Sales wise, the company have continuously see increasing sales by increasing the benefits derived from each segment for their products and services. The edit out also benefits from the ever increasing customer loyalty as a result of satisfaction. Through its franchising model, the company runs a successful business in non-alcoholic beverage industry globally. It stands to capture any new drink subject in the market as it has done before. A slight descend in segment consumption attracts careful analysis from the company to nose down into the cause and innovative measures to curb such loss.ReferencesGlobal Functional Drinks Industry Profile. (2014). Func tional Drinks Industry Profile Global, 1-35.