Environmental FactorsEnvironmental Factors
One mission of the Coca-Cola Company is to refresh the world. In order to refresh the world, Coca-Cola has to reach the world and distribute the refreshments throughout the world. The Coca-Cola Company has done just that since its establishment in 1886. Since establishing themselves in the beverage market, Coca-Cola has earned more than $15 billion in revenue, employed more than 150,000 employees, and has products in over 200 countries. Coca-Cola has had to research the global and domestic markets to ensure a need for their product. With the research, comes compliance in all regulations when distributing or creating the product in global and domestic areas.
Companies have their own procedures in place to guide employees through the ever-changing needs of consumers. These procedures provide an example to the employees regarding the conduct of the employees as business is conducted within global and domestic markets. The procedures also help in the decision-making of company executives as they explore expanding business in the global market. The Coca-Cola Company is a perfect example of a company using both domestic and international marketing. Marketing’s importance in the business world increases day by day. For Coca-Cola to market at a domestic level, they must promote their local products to local consumers in local markets and satisfy the needs of the local consumers. For Coca-Cola to market at a global level, they must promote multinational business all over the world to international consumers in international markets.
There are external factors impacting company operations. Both global and domestic companies feel the effect of these factors, which make up the marketing environment influencing company decisions. There are four environmental factors Coca-Cola took into consideration when expanding their market globally. Those factors include social, economical, competitive, and technological. The social factors consist...