7 months ago

Bar Bat Mitzvah Magazine 2018

Coca-Cola Delegating

Coca-Cola Delegating Authority World Dominance The Coca-Cola Company is currently worth $192.8 Billion. It is one of World’s Most Valuable Brands. Coca-Cola has more than 500 brands in more than 200 countries. It has more brands than any other beverage company with revenue of $44.294 billion. The Coca- Cola Company is the largest advertiser in the beverage industry in the world. Delegation Sometimes The Inventor Cannot Be The Marketer Coca-Cola was invented in 1886 by pharmacist John Pemberton. He fought in the Civil War and, at the end of the war, he decided he wanted to invent something that would bring him commercial success. Unfortunately, every drug he made failed in pharmacies. He invented many drugs, but none of them ever made any money. So, after a move to Atlanta, Pemberton decided to try his hand in the beverage market. Coca-Cola was originally intended as a patient medicine. Pemberton claimed Coca-Cola cured many diseases. Coke did not do so well in its first year. To make matters worse, Pemberton died in August 1888, so he would never see the commercial success which he had been seeking. Coca-Cola was bought out by a businessman named Asa Griggs Candler. His marketing tactics led Coke to its world dominance of the soft drink market through out the 20th century. If Asa Candler didn’t buy the formula for Coca Cola, we wouldn’t have had this popular product today. Dr. John S. Pemberton was a great inventor, but a poor marketer. The Man Behind Coca - Cola’s Marketing Asa Candler built Coca-Cola. The master marketer grew Coca-Cola into a global giant by lavishing free samples on pharmacists and consumers, securing the earliest celebrity endorsements, and, yes, zealously guarding that secret formula. The power of advertising is ubiquitous today. Asa Candler was among the earliest entrepreneurs to aggressively use it. Candler wasn’t an inventor. He didn’t come up with a great company name or even a distinctive logo; rather, his greatest achievement was as a marketer. When he purchased control of Coca-Cola, its only product was a fledgling five-cent soda fountain drink that only sold about nine glasses a day in its first year on the market. In addition to distributing coupons, Candler also decided to spread the word of Coca-Cola by plastering logos on calendars, posters, notebooks and bookmarks to reach customers on a large stage. This one step was making Coca-Cola a national brand rather than just a regional brand. Which father-in-law advised his sonin-law to delegate his responsibilities instead of handling everything himself? 130 Bar/Bat Mitzvah Magazine Source: Go on continued on p. 132

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