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KAZAKH-BRITISH TECHNICAL UNIVERSITY DEPARTMENT OF MANAGEMENT DISCIPLINE: MARKETING Price strategies of the Coca. Cola Company Done by: Symbat Malaisary Zhanel Sergaliyeva Ulbosyn Rahymbekqyzy Umit Bolatqyzy Checked by: Professor Didar Ilyasov
Following factors Coca Cola kept in mind while determining the pricing strategy. ➢ Price should be set according to the product demand of public. ➢ Price should be that which gives the company maximum revenue. ➢ Price should not be too low or too high than the price competitor is charging from Their customers otherwise nobody will buy your product. ➢ Price must be keeping the view of your target market.
PRICING STRATEGIES: • Coca Cola has intense competition with Pepsi so its pricing can’t exceed too much nor decrease too much as compared to the price of Pepsi Cola. If price of the Coca Cola exceed too much from the Pepsi then people will shift to the Pepsi Cola and on the other hand if the price of Coca Cola decreases people might get the impression that its quality is also low.
• The Coca-Cola products pricing are set around the same level as its competitors, Coca Cola has to be perceived different but still affordable. • Like any company who has successfully been existing for more than a century, Coca Cola has had to remain tremendously fluent and consistent with their pricing strategy.
• They have had worthy and “dangerous” competitor constantly driving them to be smarter, faster, and better. A quote from Pepsi Co's CEO "The more successful they are, the sharper we have to be. If the Coca Cola Company didn't exist, we'd pray for someone to invent them. "
• Coca Cola uses lower price point to penetrate new markets that are especially sensitive to price. Coca Cola does that to face the competition and to raise brand awareness among the population. Once it is strongly implemented, it reposition itself as “premium” compared to numerous competitors (ex: Pepsi), the brand have an image of bringing intangible benefit in lifestyle, group affiliation, moment of joy & happiness… but the marketing strategy still focus on an affordable enjoyment of life.
• At retailers’, regular on-pack promotions are available in order to meet the company’s objectives and also to attract consumers to buy more.
PROMOTIONAL PRICING POLICY • Coca Cola has offered promotional prices very frequently. Especially on some occasion Coca Cola reduces its rates like in New Year Coca Cola reduces its rate unto 140 tg on 1. 5 liter bottle.
MARKET PENETRATION PRICING POLICY • In an economy like that of Kazakhstan, consumers tend to switch towards a low priced product. Coca Cola’s objective is to target every consumer of the country so Coca Cola has to set its prices at such a level which no one can offer to its consumers.
• That is why Coca Cola charges the same prices as are being charged by its competitors. Otherwise, consumers may go for Pepsi Cola in case of availability of Coca Cola at relatively high price.
thank you for your attention!!!