WHY A COMPANY LIKE COCA COLA CONTINUE TO ADVERTISE.
BY: ZAINABU ISSAH
|AN OUTDOOR ADVERTISEMENT OF COCA COLA|
First of all, the American Marketing Association (AMA) made up of Canada and the United States of America, defined advertising as any paid form of non personal presentation and promotion of ides, goods and services by an identifies sponsor.
Belch and Belch also defines advertising as any paid form of non personal communication about an organizations product, service or idea sponsor.
Bovee 1992 in the article, “How Advertising Works” also defined it as the non personal communication of information usually paid for and persuasive in nature about a product, services or idea by identifies sponsors the rough the various media.
Form these various definitions, advertising in plain terms allows an organization to provide a certain form of information about a product to its various groups of customers.
It also allows a company or an organization to continue to crease the awareness of its product, enhance sales promotion, sustain the interest of its consumers, create employment, establish the image of the product, and create new outlooks of the existing brand, among other importance of advertising.
Therefore a company like Cocoa Cola since its existence in 1886 has become a home brand among other forms of soft drinks in the world.
Even though the first year sales of the product was a loss, by the late 1890’s, Coca Cola became one of America’s most popular fountain drinks largely due to aggressive marketing and advertisement of the product.
|SOME OTHER BRANDS OF COCA COLA|
Continues advertising , therefore, allows Coca Cola as a brand to continue to maintain their leadership positions in their various respective markets so that their position in consumer consideration would not wear away.
Also, advertising helps the company to keep a strong brand presence which is crucial to their larger business operations so that the brand equity that they have built over the years is used as credibility collateral to launch new products to their portfolio.
Furthermore, Coca Cola is everyday competing with the market share of all fluids consumed in a day by an individual. They therefore have to continue to persuade their consumers about why Cocoa Cola is still the best choice of drink amidst other drinks, thereby retaining the continues interest of the consumer.
Additionally, because brand loyalty isn't free, Coca Cola needs to constantly keep reminding consumers why they should keep choosing your brand and avoid experimenting with other brands.
During advertising, there are sales promotions which involves people to help advertise the product and sell them with the aim of getting commissions to the quantities sold. This therefore, creates employment among the people .
Every product has a lifecycle. This includes the introduction stage, the growth stage, the maturity stage and the decline stage. During the maturity stage, there is slowdown in sales because the product has achieved acceptance from most potential buyers hence profit level may decline as it competes with other brands. Continues advertising therefore helps to keep Coca Cola on top of the market so that it does not lose its consumer share entirely.