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MARKETING STRATEGY

Coca-Cola Company outlines its 2023 global marketing strategy

By our News Team | 2023

‘Fast’, ‘adaptable’ and ‘flexible’ will be key to success in an unpredictable world, company CEO tells investors and financial analysts.

Soft-drink giant Coca-Cola will continue to be “fast and adaptable” with its marketing spend for 2023, company Chairman and CEO, James Quincey, said during a call on Tuesday (14 February) with investors, financial analysts and media.

Global unpredictability made it imperative that the company be able to adapt its strategy and spending at short notice, he emphasised.

But the approach will be flexible, not cautious, with the Coca-Cola Company continuing its strategy of the past two years to increase its marketing investment where necessary in order to promote long-term growth.

Marketing Strategy

Photo by SJ Objio on Unsplash

“Instead of trying to forecast and predict the many directions things could move, we are focused on delivering on our key objectives,” Quincey said.

“Firstly, pursuing excellence globally and winning locally through relentless consumer-centricity to continue the top-line momentum; secondly, investing for the long-term health of the business and raising the bar across all elements of our strategic flywheel; thirdly, generating US dollar EPS (earnings per share growth) growth to deliver value for our shareholders.”

The increased ‘consumer-centricity’ ideal dates back to 2021, when Coca-Cola unveiled a new marketing model to “transform and modernise” the brand. The transformation included a complete overhaul of its agency structure, with new appointments across creative, media and strategy.

Part of the 2023 plan is to deepen relationships with consumers through digital experiences and to leveraging data insights to better understand consumers and segment the market.

Driving engagement through linked occasions and passion points

“Our new marketing model is working with linked occasions and passion points to drive engagement,” Quincey stated.

“We’re experimenting to optimise marketing. This is driving deeper connections with consumers, reaching them in unique and new ways. We are tying our beverages to consumption occasions and engaging consumers through local experiences.”

One such example, he said, was in Brazil, where the brand’s live music strategy created memorable in-person and digital experiences, elevating consumer engagement. 

“We partnered with Rock in Rio, one of the biggest music festivals in the world, and created new opportunities for consumers to access content through livestreams and in the Metaverse.

As a result, we boosted our reach for approximately 700,000 attendees to more than 45-million consumers across the region, and our sales inside the festival increased 23% versus the last festival.”

According to Quincey, another example was in India. The Thums Up Stump Cam was a never-before-seen activation for cricket fans, where consumers could scan a QR code on a product label and get access to exclusive match moments of the ICC T20 Cricket World Cup through a camera installed on one of the wickets. 

Thums Up is an Indian-based cola brand owned by the Coca-Coca Company.

“Throughout the 45-day tournament, we used first-party data and artificial intelligence to send personalised content to consumers based on their favourite matches, and we amplified the experience through sports influencers,” Quincey explained.

“This campaign showed strong results, with Thums Up growing volume ahead of our total sparkling portfolio in India during the activation period, contributing to strong volume growth for Thums Up for the full year.”

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Dr Kin Kariisa

Group CEO - Next Media

Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

  • Other current and previous roles played by Dr Kin Kariisa:
  • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
  • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
  • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
  • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
  • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.