Coca cola demographics. Different Factors Of Demographic Segmentation Of Coca Cola 2022-10-21
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Coca Cola is one of the most iconic and recognizable brands in the world, with a long history dating back to the late 19th century. The company's products are enjoyed by people of all ages, in every corner of the globe. But who exactly is the target demographic for Coca Cola?
According to the company's own data, the majority of Coca Cola's consumers are in the 15-29 age range, with a slightly higher proportion of males than females. This is not surprising, as many young people are attracted to the brand's energetic and youthful image. However, Coca Cola is also popular with older consumers, with a significant proportion of its sales coming from those over the age of 30.
Geographically, Coca Cola is consumed in every country on earth, with particularly high sales in developing countries. In many of these countries, Coca Cola serves as a symbol of westernization and modernity, and is often associated with celebrations and special occasions.
In terms of income, Coca Cola is consumed by people from a wide range of economic backgrounds. While the brand is certainly more expensive than some other options on the market, its widespread popularity means that it is accessible to people of all income levels.
Overall, the demographics of Coca Cola's consumers are quite diverse, reflecting the brand's global appeal and ability to adapt to local cultures. Whether you're a young person looking for a quick pick-me-up, or an older adult enjoying a refreshing beverage with friends, there is a Coca Cola product for you.
Coca Cola Demographics and Psychographics in Market Segmentation
Demographic influence same group influence The influence of demographic factors- age, sex, education level, occupation, income level etc is seen in this region. It is the world primary producer of beverages and operates on a global scale across over 200 countries. Data We use data and evidence of what works to track our progress and to ensure a strategy that maximises impact. The consumers identify each other with the brands they consume. Coca-Cola 's goal is to supply magic on every occasion somebody drinks one amongst its over five hundred brands. Introduction Assael 34 asserts that the motivation behind every decision to buy a commodity is an in grown phenomenon that plays a major role in the choices one makes about buying a commodity.
These are minimal users of coca cola which is viewed as a luxury drink. And we are passionate to share the value we create for the greater good. Learn more Consumers also buy a psychological benefit which denotes the experience buyers get by being identified with a leading brand which is differentiated from others. Due to its ambitious programs, organizational conflicts may arise. It forces those affected to choose a brand even though they may not be motivated enough to like the brand. Why Coca-Cola had a higher share of the cola drinks market than Pepsi According to Armstrong and Kotler 207 , many factors influence the buying behavior of consumers and their resultant choice of products or brands. Examples include focus groups and semi-structured interviews.
Age: The target market for the Coca-Cola is based on age. Strengths and limitations of research proposed The strengths would a save on time and money lost as seen in the failed launch of new coke which saw it loose millions of dollars first in producing the product and then in advertising and promotions as it sought to get back a lost market share. They have come up with advertisements that are appealing to all age groups, sex, political preferences and religious beliefs among others. Generation X Marketing to these target consumers should involve use of print media, television, direct mail and internet. This refers to the individuals who had formed a habit of maybe consuming Coca-cola after every meal and a slight change in the formula changed the taste and they stopped consuming.
Peer group also translates to acceptance or rejection by not conforming to the expected behaviors depicted by other peers, which in this case is the purchase of coke in preference to Pepsi. In addition, all of our countries have a local grievance process that meets company-wide minimum standards for the steps that need to be followed in managing employee complaints. This is a great disadvantage because the competitors may produce better products which can lead to loss of customers. The choice of Coca- Cola over Pepsi would therefore count heavily. Works Cited Armstrong, Gary and Kotler, Philip. As a stress to this ideology, the author stats that Cognitive motivation theories give insights as to why people opt for jobs that they like more even when they are likely to get less pay for the same.
This led to increased awareness of the existence of the product to general population. In the case of Coca Cola this reward comes from the satisfaction of consuming the drink. Some have even gone so far to suggest that the marketing of Coke actually rewires the human brain to want it more than Pepsi. In psychographic segmentation, Coca Cola buyers are divided into different groups on the basis of lifestyle or personality or values. Thirdly, demographic variable require that other variables are used in the development of a market segment. It will outline various elements relating to consumer behaviour and its implications for creating marketing strategies for this brand.
Founded in 1886 by John Pemberton, the Coca Cola brand has more than 500 different non-alcoholic beverages brands underneath its umbrella. Thus its management has been tailored to embrace good working relationship with its workforce. Limitations Time There is the possibility of research taking more time than the company is willing to risk. In New Zealand, there is families with different family size. The Coca Cola Company understands that it is operating on a global and cultural diversity and its relationship with its employees and customers is paramount.
Consumer analytics provider Connexity says both brands are failing to win over the 18 to 24 demographic, despite new strategies designed to appeal to a younger, more health-conscious crowd, Adweek reports. The consumer is also able to boost their self-esteem and positive attitude towards life as they are accepted in social groups and society as a whole. In the case these factors were not well considered and such lead to the collapse of the new product. Generation Y They have high spending traits and to market to them the companies should use friends, who are trusted by the group. Cola — Cola should have conducted a research on perceptions of consumers to sweeter version of the coca cola drink. One has a hope that by obtaining or buying the product, one would receive a certain form of reward. Mexicans drink more Coca-Cola products, for example, by a huge margin.
Leadership We enable our leaders to develop and promote inclusive behaviours every day. Extrinsic motivation on the other hand involves taking part in a task because of external influence. On August 16, 1888, Dr. And who exactly uses the brand Shiffman 2013. A, 2001 Managing Conflicts in Organisations, Greenwood Publishing Group, 2001, 75. Also, a product may be abundant in the market yet it is not of the required standard and quality according to psychographic profiles. However, there are some limitations which need that a combination with other variables should be done in order to make sure that market segmentation is done in a way that will lead to customer and market satisfaction.
Unique demographic factors, Coca Cola Essay Example
The sources and methods used-This report utilized secondary sources including academic underpinnings journals and internet sources. Organizations should invest more in market research in order to come up with the products that are needed by the market. Like 30% of the most successful companies in existence, Coca-Cola was established before 1900 and continues to create a legacy with their brand, over a century later. By constantly building a diverse and inclusive workplace, we enrich our decision-making and provide ever more innovative solutions and shared value. In their constant battle with Pepsi over market share, Coca Cola puts a lot of emphasis on brand recognition in and attempt to increase the sales of existing products in existing markets. When the customer needs and wants are carefully evaluated and their trends studied, an organisation will channel its marketing campaigns towards those needs and wants Sessler 2011. These are highlighted below: Loyalty to the product The Coca Cola brand has been in the market for a longer period than Pepsi Cola and as such has developed a market niche is loyal to its products.
