In today’s session we discussed our findings regarding our individual research based on the TOWS matrix of Coca-Cola. We agreed how these points would fit into the matrix and whether or not the Critical Success Factor’s (CSF’s) were relevant as well as coming up with new CSF’s to include in the TOWS matrix.
The CSF’s we agreed upon included things such as:
- Coca-Cola using advancing technology (Opportunity) to produce PET bottles in order to satisfy their customer needs in terms of becoming a more environmentally conscious company (Weakness).http://www.coca-cola.co.uk/environment/plantbottle/plantbottle-packaging-award.html / http://www.telegraph.co.uk/earth/earthnews/3312688/Public-concerned-on-environment-survey-says.html
- Using social media (Opportunity) to conduct conclusive market research to satisfy customers across a range of cultures (Weakness). For instance, they could have conducted polls in order to find out what names people would have wanted to see being used in the current marketing campaign and not caused any upset in certain countries. http://www.washingtonpost.com/blogs/worldviews/wp/2013/05/23/new-coca-cola-ad-campaign-mired-in-sensitive-israeli-identity-politics/
- By having a strong market hold (Strength), Coca-Cola are able to keep on top of the competition, Pepsi, (Threat) by buying out smaller brands across the competitive market such as Innocent Smoothies. http://www.theguardian.com/business/2013/feb/22/coca-cola-full-control-innocent
- Customers are becoming more environmentally conscious (Threat), in order to keep their customers loyal Coca-Cola are funding projects run by the WWF to help tackle global environmental issues (Strength). http://www.coca-cola.co.uk/environment/arctic-home/protecting-the-polar-bear.html
- Coca-Cola faces a lot of bad publicity (Weakness) in respect of their production methods in different countries. In order to override this they have been able to create and support jobs in developing countries that enhance local economies (Threat). http://www.atimes.com/atimes/South_Asia/FB24Df04.html /http://www.coca-colacompany.com/stories/economic-opportunity#TCCC
- As there is a growing beverage consumption in emerging markets (Opportunity) Coca-Cola is able to capitalise on this over their competitors as they have such a strong hold on the market (Strength). http://assets.coca-colacompany.com/5e/e6/0e30a9d34a82b4febb15b91f61a6/2009_annual_review_Year_in_Review.pdf
- Coca-Cola is able to use social media (Opportunity) to make their consumers aware of the projects they are undertaking to support global environmental issues (Strength). http://www.coca-cola.co.uk/environment/arctic-home/protecting-the-polar-bear.html
In preparation for our next session we are going to agree on our strongest CSF’s to be included in the info graphic and ensure we have included all sources to back up our TOWS matrix.