Coca Cola External Environmental Factors
During the strategic marketing management process, there are many external forces that any company must be aware of in order to be profitable. These very important factors to be considered come in the form of technology trends, economic and government trends, consumer trends and innovations. It is very important to become aware of all of the potential opportunities and threats that may arise from these trends. I believe that for Coca-Cola, there are external forces in all of these areas that they must be aware of and incorporate into their planning if they are to continue to be successful. When it comes to technology, in recent years there are many emerging trends that I feel that Coca-Cola could use to …show more content…
Another very important consumer trend that should be noticed by Coca-Cola is the increasing population of Hispanics in the United States. Hispanics make up a very large part of the population, and Coke isn’t marketed specifically to this ethnic group. We feel that if Coca-Cola marketed more directly to Hispanics, they would increase their profit.
Lastly, a very important consumer trend is being “green”. As previously mentioned, consumers in the United States, as well as the majority of other countries in the world, are very concerned with the effects of pollution and the general well being of the planet. Coca-Cola’s biggest competition is Pepsi. In the past year, Pepsi has introduced the “Pepsi Refresh Project.” This program awards funding to people in America who have come up with great ideas on how they can improve their community. Some of the ideas that have been funded by Pepsi so far are making school buses more eco-friendly, growing fresh produce at schools to fight childhood obesity and making buildings in cities more energy efficient. In 2010, the Pepsi Refresh Project will give away more than $20 million to people with similar ideas. Each month, Pepsi will accept up to 1,000 new ideas every month and will award up to $1.3 million in grants to the ideas who have