SOCIO CULTURAL BARRIERS FACED BY COCA-COLA IN INDIA AND SOLUTIONS TO OVERCOME THE ISSUES
1. EXECUTIVE SUMMARY 3
2. TERMS OF REFERENCE 3
3. CURRENT SCENARIO 3
4. ANALYSIS OF THE SITUATION 4
4.1. STRENGTH 5
4.2. WEEKNESS 5
4.3. OPPORTUNITIES 5
4.4. THREATS 5
5. SOLUTIONS AND RECOMMENDATIONS 6
5.1. PUBLIC RELATIONS 6
5.2. ENHANCE RELATIONSHIP WITH GOVERNMENT 6
5.3. LAUNCH MARKETING CAMPAIGNS 7
5.4. LISTEN TO THE CUSTOMERS 7
5.5. MANAGING STYLE 7
5.6. PULL BACK PRICE- QUALITY TRADE –OFF PLANS 7
6. SUGGESTIONS 8
7. FORECASTS AND PREDICTIONS 9
8. CONCLUSION 9
9. REFERENCES 10
TERMS OF REFERENCE
Our company is the leading consultant in India which focuses on Indian market studies. We conduct market surveys on companies and their products. We do market survey based on the present and future market situations. We help our client to have a proper stand in Indian market against their competitors, and help them with strategies to enter the market, market segmentation, product segmentation and sales techniques. It is possible by analyzing the past and present conditions of the company, and by learning their past actions in the society and the economy.
Our client is of United States origin which is a leading soft drink company in entire world. Coca-Cola has got a strong brand image through out the world. Our client is the first company which introduced soft drinks in the world. Public has already accepted its taste and quality all over the world.
Our client would like to know about the present condition of Indian market so tat they can start their business according to that. They also want to know about the culture of the Indian people to know about their consuming nature. The client needs to know whether they can survive in Indian market and what are the drawbacks that they may envisage during their operations in India and that they should consider before starting up the business in India.
There has been a great competition between refreshment drinks in Indian market. Coca-Cola is the world’s largest and first soft drink manufacturer. As part of the Globalization program, India has made it easy for multinational companies to enter the Indian market. Globalization has made the whole world into one market by reducing the trade barriers and minimizing the risk. It is noticeable that many multinational companies had failed in Indian market. This failure is mainly due to improper knowledge about the country and the national culture. It is very important to know about the people and their consuming behavior. Culture plays an important role in consuming behavior. Coca-Cola is mainly associated to the issues related to the brand, reputation and Corporate Social Responsibility (CSR).
Present situation of the country is favorable for multinational companies to start their business in India. As we had already seen that Coca-Cola is the largest selling soft drink in the world, they do have direct opportunities in the Indian market. Even though it is facing some social problem in India, Coca-Cola has got good market in India. The main target customers are youth who has already accepted the taste of the drink.
Coca-Cola should give more importance for the culture of the people because culture is a major element which decides the consumer behavior and purchasing patterns. India is a country where people are keener towards the culture. Considering Geert Hofsted’s cultural dimensions here in this case, it is clear that, uncertainty avoidance India is less and people are not so...