We used segmented revenue growth strategies across our business in a way that varied by market type. And we aligned our employee incentives accordingly. In emerging markets, we focused primarily on increasing volume, keeping our beverages affordable and strengthening the foundation of our future success.
In the quest to discover and vet opportunities to grow Coca-Cola brands, Tirath and her team wanted to gain a deeper understanding of what motivates people to buy and consume beverages while away from home. These jobs became a way to quantify how universal life situations and core human moods interact to influence how people think, feel and act.
How did they collect this data? At the end of the project, Coca-Cola found an additional 2. They based their approach on a simple idea: The circumstances are more important than customer characteristics, product attributes, new technologies, or trends.
Good innovations solve problems that formerly had only inadequate solutions — or no solution. Jobs are never simply about function — they have powerful social and emotion Functional tactics for coca cola company. They dove in with a little help from surveys. Risks of a Jobs Approach While the traditional jobs approach can offer uniquely powerful insights into a market, it comes with three risks: Not determining if the juice is worth the squeeze.
Basically, are there enough consumers trying to accomplish a given job to make it sufficiently profitable? Not determining whose jobs are most important to win. Focusing on disruptive innovations versus also focusing on strategies for winning jobs with existing products and services.
No need to reinvent the wheel if an existing product, feature, or service can help you audience achieve their job. To address these three risks, Halverson and Coca-Cola developed the following approach: When laid out in a sequence, as it might be experienced by a consumer, this approach looks like this: For instance, a woman who has just worked out might feel accomplished, want to stay on her healthy track, and so purchase a bottle of water from a convenience store on her way home from the gym.
After her next workout, however, the same woman might want to celebrate a key milestone by stopping to get a milkshake from a fast food restaurant on her way home from the gym.
Importantly, two very different people who find themselves in the same situation may end up with the same job and the same choice of solution, as illustrated here: They also looked at the consumption of different beverage brands in 40 different beverage categories across retail outlets.
Turning 30, People Into Jobs to Be Won In the end, they spoke with over 30, people in eleven countries about the role of beverages in their daily lives. Core Customers to protect and nurture: People who drive a disproportionate amount of business and lifetime value, at the category level as well as the brand level.
Moveable Middle to target for growth: Those who have no significant barriers and are potentially highly leveragable; efficient targets from which to grow. Limited Immediate Potential to monitor: People with little current or future value or people Category Rejecters, Brand Rejecters, etc.
Each person would encounter various situations that could lead to a beverage purchase. Moods and Motivation Each situation would bring with it a common mood, which would need to be accounted for in order to help consumers complete the job at hand.
These fell on a continuum like this: They transcend categories and brands, driving people to meet their functional needs as well as manage their mood in various situations.
What beverage choice was made, and what was the source? What other options were considered? How effective was the choice for accomplishing the job? What recommendations surface for better accomplishing the job?
Revealing Untapped Potential with Jobs Approach In the end, turning their focus to the audience and their individual jobs was a major win for Coca-Cola. They identified 5 billion untapped away from home opportunities each week in the U. These scenarios were spread over nearly all the situations the researchers identified, from mid-day breaks to shopping trips to working out.
Halverson and Coca-Cola also discovered that beverages played a major role in other choices that people made on a daily basis, including where they chose to eat away from home.
And they did it all with survey software. Tackle Your Own Consumer Behavior Study with SurveyGizmo Ultimately, for Coca-Cola and for our own brandswe should remember that situations, moods, and motives will often predict consumer behavior more accurately than demographic factors.
Through surveys, we can research, explore, and understand the jobs our audience is hoping our products can complete. While this may seem daunting, the benefits are huge.At The Coca-Cola Company you can cultivate your career in a challenging and dynamic environment.
We are the largest manufacturer and distributor of nonalcoholic drinks in the world-selling more than 1 billion drinks a day. Babson College and The Coca-Cola Company have released a Babson-authored report analyzing progress, challenges, strengths and the outlook for Coca-Cola’s 5by20 initiative, which aims to reach 5 million women entrepreneurs throughout the Coca-Cola value chain by The world’s largest beverage company may be the next industry giant to jump into the cannabis drinks business.
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