Coca-Cola is a renowned name all across the world. It has been in news for a long time in the Indian political scenario. Irrespective of the current news Coca-Cola has always managed and maintained their standards in every country they serve. Presently Coca-Cola serves more than 1.2 billion servings in over 200 countries all around the globe. Unlike any other food or beverage MNC like Pizza Hut or McDonald’s, Coca-Cola has managed to keep its taste the same in all of the 200 countries.
Standardizing the processes and keeping the product of the same quality is one of the crucial factors that drive growth and development in any company and the same has happened with Coca-Cola. The fact that Coca-Cola used to send out salesmen advising the vendors to serve coke between the temperature ranges of 36-40 degrees and not over it shows how inclined the company was towards standardization.
Below are some of the strategies Coca-Cola used to standardize their product all across the globe –
Standardizing all components and processes involved in manufacturing helps one in expanding their market and increasing their grip over various other product lines that are consequently created due to the availability of component sections across several products. This will not help you in keeping a tab on costs but will also assist in widening the global sales spectrum. This will also help one in minimizing the testing costs incurred while launching a product at some other geographical location with a different process of manufacturing. Moreover, having a standardized process enables one to push new products quickly into the market and capitalize on the potential needs of the customer.
Packaging also plays an important role in boosting the sales of the product. Coca-Cola understood it very early and tweaked their packaging a bit to boost their global sales. Furthermore, they used a timeless font on all of their products they launched in the market thus, gaining them brand recognition and helping them in reflecting differences from the competition. They sold the same product in every other country but with a different and appealing packaging for the local consumers.
A well-standardized product when sold in different quantities keeps the company to satisfy the consumer needs and keep up with their sales at the same time as well. Usually, people don’t buy products in bulk while manufacturing and hence it opens up the door for you to channelize your product in different quantities among different marketing channels.
Another hard-hitting strategy adopted by Coca-Cola was to standardize the price of the product as well across all the geographical locations. For more than 70 years, Coca-Cola sold its product at the same price in the United States. This, along with the standardization of other processes helped them in keeping up with the costs, helped them in eliminating risks and keeping the product same everywhere.
Standardization, as said above is a very important factor that keeps the company in the race in today’s competitive market. It may not seem an easy task, but believe me when I say that with standardization, one can keep up with the competition and might also be able to surpass them. We at Faber Infinite have been helping clients across the industries and geographies to work on process and product standardization. To know more about our offerings on standardization contact us on firstname.lastname@example.org
Written & Compiled By Faber Kishlay & Faber Mayuri