From the Three A’s to the Three P’s
Coca-Cola used to focus its strategy on the three A’s: availability, acceptability, and affordability. While these provided for tremendous growth, they also led to lowered entry barriers. Today, Coca-Cola’s mantra is the three P’s: preference, pervasive penetration, and price-related value.
The Power of Brand Accessibility
If you were another soft drink company, you might define your competitive frame of reference as the cola market or the soft drink market or even the beverage market. But Coke thinks of its business and its market share in terms of “share of human liquid consumption.” This makes water a competitor. In fact, a Coke executive has said that he won’t be satisfied until “there is a Coca-Cola faucet in every home.” Coca-Cola’s mantra is “within an arm’s reach of desire.”
Coca-Cola is Serious About Brand Building
Each month, Coca-Cola tests 20 brand attributes with 4,000 consumers to measure movement. The company also compensates (bonus and other compensation components) a large portion of its senior managers based on brand preference.
One Final Coca-Cola Fact
A recent Coca-Cola annual report reported that the second most recognized expression in the world after “ok?” is “Coca-Cola.”
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Branding Strategy Insider is a service of The Blake Project: A strategic brand consultancy specializing in Brand Research, Brand Strategy, Brand Licensing and Brand Education