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For and not for profit businesses
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A great piece of work for those who are studying year 11 business course. My work scored 100/100 marks.
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For-Profit businessesA for-profit corporation aims to earn profit through its operations. It is concerned with
its own interests, therefore the need for progress and reliable marketing is very
important to be developed in a clever way, bringing the expected positive impact
towards the business long term perspective.
Coca-Cola Business
The main purpose of Coca Cola is to reinvigorate the world, continuing its evolution
throughout time. The main purpose is to enhance the consumers’ taste and create
new flavours, earning appreciative feedback, keeping the brand to its high level of
worldwide recognition.
Also, their objectives are to maximise the profit and to grow their business more.
Coca-Cola tries to persuade their customers by associating the brand with Santa
Claus or with different events throughout the year, being connected with religious
activities.This association may reduce the risk of not selling as much Coca-Cola
during the winter. Of course, the summer is the best season which brings the highest
revenue to the business.
Coca-Cola aims to reduce its waste. By 2030 they want to recycle the equivalent of
every bottle that can be sold globally. Hopefully this is going to be an achievable
project, strategies being put in place for an effective outcome.
88% of their packaging is recyclable globally and 10% recycled material in PET
plastic packaging globally, reducing its carbon footprint.
The company is a public one and has thousands of worldwide shareholders,
therefore they all work together as effectively as possible to reach a productive
result.
Another aim is to craft the brands and choice of drinks that people love, to interact
and create strategies that can bring up knowledge regarding the most favored
flavours of the customers. As an opinion, and through research, I could identify that
the company analysed primary data and secondary data by interviewing customers,
by creating quizzes and questionnaires.This essential approach had a positive
outcome.
, Activity:
Coca-Cola is an American brand. It was founded in January 1880s, Atlanta, Georgia,
United States. The creator of it was John Pemberton, a pharmacist.
Coca-Cola also owns another 500+ companies, which are controlled as investments.
Coca-cola reported fiscal first-quarter net income of $2.78 billion (64 cents on a
share).
In 2019, Coca-Cola Company's net operating revenues worldwide are around 37.27
billion dollars.
As a worldwide company, it earned 236.9 billion dollars. These are figures to
represent an idea of how much this business giant can earn and profit, role
modelling interesting strategies for other businesses.
They are doing the for-profit business by:
1)acting globally and locally.
2)powerful partnerships with our bottling system to bring brands to life in the market.
3)create new tastes of Coca Cola.
The Coca-Cola system:
1) 225 Bottling Partners Worldwide;
2) 900 Bottling Plants;
3) 700k+ Employed by the Company and Bottling Partners;
4) 30mil. retail customer outlets
Gathering data:
Coca-Cola uses focus groups and interviews when carrying out their 5 stage
process. Use data to understand what customers want and how they can improve
the product.
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