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Long one of the worlds most recognized companies and brands Coca-Cola continues to prosper by innovating and adapting to the local needs of its customers and consumers throughout the world Despite ferocious competition significant currency devaluations in key markets and major acquisition-related write-downs the company reported first quarter 2002 sales of US408 billion and has predicted long term growth approaching six percent What is Coca-Colas formula for success Is it simply a case of having the right product and brand Or is it more than that Just what does it take for a multinational like Coca-Cola to sustain its competitive advantage Our flagship Coca-Cola brand empowers us without a doubt with a tremendous competitive advantage and a solid foundation for success But it is just one of many elements that enable Coca-Cola to create increasing levels of value in an ever changing market environment said Hector Gorosabel 87 vice president North Latin America Division The Coca-Cola Company Id have to say that an innovative marketing approach and our unmatched distribution system are important as well as is our focused consistent approach to doing business Exactly what the brand means is a difficult question for Coca-Cola since the brand has the unique ability to connect with people on a variety of emotional and functional levels I can tell you that we believe the brand stands for authenticity for refreshment and for enjoyment But I can also tell you that people who drink Coca-Cola often do so because of the enduring emotional and refreshing connection they have with the brand Yet Coke is only one of the 230 brands Coca-Cola sells around the world The company continues to leverage its competitive strengths as it selectively broadens its family of beverage brands to drive profitable growth We are committed to meeting the diverse preferences of consumers by offering branded beverage solutions in a variety of beverage categories and consumption occasions said Gorosabel Several examples of this
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