When a company only produces a few products, the ability to diverse a wide-range of customers is a bit limited. MKTG textbook states that before 1960, the Coca-Cola company produced only one beverage which only targeted the soft drink market. Today, the Coca-Cola company offers over 100+ different products based on consumer preference. Coca-Cola offers traditional soft drinks, energy drinks such as POWERade, flavored teas, fruit drinks such as fruitopia, and water (Dasani).
Coca-Cola segments their products with success because with the company's name and history, it's an easy access to sell to customers. Coca-Cola targets all markets and different segmentation such as age, gender, ethnic, income, and the family life cycle.
In my opinion, Coca-Cola takes the following steps in segmenting a market :
- They identifies the market segment
- chooses the segment that fits the company
- implement a target market and many more
At the end of it all Coca-Cola makes money and we the consumers get satisfied (thirst quenched).
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