Chap 10: Product Concepts

The Coca Cola Company is the world's largest beverage company that has the most valuable and recognizable brands. Coca Cola is the number one provider of sparkling water, ready-to-drink coffees and juices with consumers in more than 200 countries enjoying it and a  product mix of over 3,500 products. Coca Cola is a consumer product because as it says in their mission statement, the company wants "to refresh the world in mind, body, and spirit." Coca Cola can be easily found everywhere. In a gas station, newsstands, vending machines, supermarkets, restaurants, bars/clubs, and more places around the world. This makes Coca Cola a convenience product because it is so easy to find a Coca Cola drink with little shopping effort. As for the benefits of branding, Coca Cola products are recognized around the globe so that gives the company an excellent product identification. Coca Cola's brand equity in 2014 was estimated at $81.6 billion, which makes the company valuable. These benefits is what led Coca Cola to have brand loyalty. The company has a loyalty program in which members can earn rewards by participating in mycokerewards.com.