Saturday, February 1, 2020
Analysis Of Business Environment For Coca-Cola Company Research Paper
Analysis Of Business Environment For Coca-Cola Company - Research Paper Example The company can minimize weaknesses and fight threats to improve financial and training systems and undertake staff motivational initiatives to minimize risks associated with new markets and increase competitive advantage as well as constantly build expertise in the firm to minimize chances of the firm undertaking risky business internationally such as the experiences seen during the global financial crisis. Also, technological advancements in the industry may be useful to increase competition. Using SWOT analysis, the company should be able to focus on its strengths, curtail threats, and take the utmost possible gain of opportunities available, and trigger aggressive strategy formulation. The firm has a better understanding of its competitors which can provide insights to craft a coherent and successful competitive position. To maintain and/or increase customer loyalty, the company should employ strategies that jealously guard its existing market share and also explore ways of expan ding the customer base to grow revenue and increase business performance. Product differentiation based on customer segments is one of the strategies the company can use. The company should also explore the strengths and limitations of its competitors by interrogating the soft spots of alternative products to strengthen its products. Other strategies may include going an extra mile to know its customers better, meet and exceed customer expectations, increase value derived by customers from its products.