With the globalisation of world businesses, many western companies are flocking into new markets to sell their goods and establish a market presence that will provide them with sustained business returns. Hence many companies have selected appropriate measures and devised strategies to penetrate new markets where their presence was not so far known. For example, many third world countries are opening their markets to foreign companies that are desirous of setting up shop in the country. The products of such companies are often new to the area and the companies to spend a lot of money and resources in order to make the product popular with the local population. The tactics that the company employees will help it to capture the market and make inroads into new territories. This paper would examine the case of the beverage company, Coca Cola.
The Coca-Cola Company was founded in 1886 and is headquartered in Atlanta, Georgia. The Company manufactures and distributes non-alcoholic beverage concentrates and syrups. The company markets these products globally and has a strong market presence in many parts of the world. The product range of the company includes principally carbonated soft drinks, but it also produces noncarbonated beverages. In addition, Coca Cola also produces beverage concentrates such as flavouring agents and sweeteners, syrups etc. Diversification of the company’s product range has led it to the creation of products that are supplied to fountain retailers and restaurants. The Coca-Cola Company also produces waters and flavoured waters, juice and juice drinks, energy and sports drinks, teas and coffees. Many different types of brands of soft drinks such as Coca-Cola, Diet Coke, Fanta, and Sprite are produced by the company.
Coca Cola, by establishing their presence there, has gained access to a market share of many developing and developed countries and is the choice of millions of customers all over the world. .