Is "Taste the Feeling" the solution to the problems dogging co*ke?
Coca-Cola is hoping a new ad slogan will help it overcome declining sales and increased health concerns about its signature product.
Tuesday the company rolled out a new ad campaign, "Taste the Feeling." It will be used not only to advertise Coca-Cola but also to market its other co*ke-branded products such as Diet co*ke and co*ke Zero. This marks the first time that one campaign will be used across multiple co*ke products.
"We are reinforcing that Coca-Cola is for everybody," said Marco de Quinto, who became co*ke's chief marketing officer a year ago. "People want their Coca-Cola in different ways, but whichever one they want, they want a Coca-Cola brand with great taste and refreshment."
It replaces the "Open Happiness" campaign that co*ke has used since 2009, which is one of the longer-running campaigns in the 130 years that the company has been marketing its soft drink.
Its well known slogans have included "It's the Real Thing," "co*ke Adds Life," and "Have a co*ke and a Smile." This is its 48th different slogan during that time.
Related: The man behind the iconic co*ke hilltop ad
co*ke (KO) is one of the largest advertisers in the world, with spending on ads of about $3.3 billion a year worldwide in 2013, according to multiple news reports. And CEO Muhtar Kent promised investors at that time that the company planned to increase its marketing budget by $1 billion a year by 2016.
co*ke needs to step up its marketing in the face of declining sales and profits. Both were both lower in the first three quarters of last year, putting Coca-Cola on pace to report its third straight year of declining revenue.
It has faced harsher criticism of the health effects of its sugary drinks, including a parody ad of its famous "I want to buy the world a co*ke" ad by Center for Science in the Public Interest which shows diabetes patients injecting themselves with insulin and has actors singing "I'd like to buy the world a drink that doesn't cause disease," and "That's obesity."
CNNMoney (New York) First published January 19, 2016: 8:13 AM ET
As a seasoned marketing expert with extensive knowledge of the beverage industry, particularly in soft drinks, I've closely followed the strategies employed by major players like Coca-Cola. My insights are backed by a deep understanding of advertising campaigns, brand positioning, and the challenges faced by companies in the ever-evolving consumer landscape. Now, let's delve into the concepts touched upon in the article "Coca-Cola ads through the years: Is 'Taste the Feeling' the solution to the problems dogging co*ke?"
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Brand Evolution and Slogans: The article highlights Coca-Cola's historical use of slogans and advertising campaigns. With a history spanning 130 years, Coca-Cola has consistently reinvented its marketing strategies. Slogans such as "It's the Real Thing," "co*ke Adds Life," and "Have a co*ke and a Smile" reflect the brand's efforts to connect with consumers emotionally. The transition from the long-running "Open Happiness" campaign to the new "Taste the Feeling" campaign underscores the brand's adaptability and responsiveness to market dynamics.
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Unified Marketing Strategy: The introduction of the "Taste the Feeling" campaign marks a strategic shift for Coca-Cola. For the first time, the company is unifying its advertising approach across multiple products, including Coca-Cola, Diet co*ke, and co*ke Zero. This move aligns with the aim of portraying Coca-Cola as a brand for everyone, accommodating diverse preferences while maintaining a consistent focus on taste and refreshment.
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Marketing Budget and Business Performance: The article mentions Coca-Cola's significant position as one of the largest advertisers globally, with a substantial annual spending of about $3.3 billion in 2013. The commitment to increase the marketing budget by an additional $1 billion by 2016, as outlined by CEO Muhtar Kent, reflects the company's recognition of the need to intensify marketing efforts amid declining sales and profits. The financial context emphasizes the scale and significance of Coca-Cola's marketing initiatives.
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Challenges and Health Concerns: Coca-Cola faces challenges related to declining sales, profits, and increased scrutiny of the health effects of its sugary drinks. The article mentions the criticism received, including a parody ad by the Center for Science in the Public Interest that highlights health issues associated with sugary beverages. This points to the broader societal shift towards health consciousness and the impact on consumer perceptions of traditional soft drinks.
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Chief Marketing Officer's Perspective: Marco de Quinto, Coca-Cola's Chief Marketing Officer, plays a pivotal role in shaping the brand's narrative. His statement, "We are reinforcing that Coca-Cola is for everybody," signals a strategic intention to appeal to diverse consumer preferences. Acknowledging that people want Coca-Cola in different ways, de Quinto emphasizes the overarching importance of delivering a Coca-Cola brand experience characterized by great taste and refreshment.
In conclusion, the article provides a snapshot of Coca-Cola's dynamic marketing landscape, showcasing its historical journey through slogans, strategic shifts in advertising, and the challenges it faces in a changing consumer environment. The introduction of "Taste the Feeling" represents a pivotal moment in the brand's ongoing efforts to stay relevant and resonate with contemporary consumer expectations.
