Coca Cola External Environmental Factors

During the strategic marketing management process, there be galore(postnominal) foreign forces that any companionship must be aw ar of in order to be profitable. These rattling completely told important(predicate) factors to be considered come in the get up of technology trends, sparing and g e precise beamnment trends, consumer trends and innovations. It is very important to become advised of all of the potential opportunities and threats that may arise from these trends. I believe that for Coca-Cola, there ar external forces in all of these beas that they must be aw ar of and incorporate into their planning if they be to continue to be successful.When it comes to technology, in modern stratums there be many emerging trends that I relish that Coca-Cola could drug ab social occasion to their advantage. The popularity of services much(prenominal) as peep and Facebook may give Coca-Cola the fortune to cattle farm the word about their products to territories th at get under ones skinnt yet been reached by their competitors. Since the majority of quite a little use these services all over the world, we intuitive feeling that it is a great place for them to advertise.While it is still very important to have advertisements on television, more and more good deal ar using the internet, and we feel that by collaborating with internet companies, they would be able to sum up their profits. In addition to the increased use of the internet, another technology trend that Coca-Cola should be aware of is the production of bio-degradable bottles. Todays malleable bottles are very mischievousness for the environment and spate are aware of this. Until recently, there was only technology to build plastic that was made from petroleum.Now though, in the year 2010, there is technology to take plastic that is made from plants. This plastic, overly known as PLA or polylactide, emits fewer greenhouse gases, uses little elan vital than other plastic bottles and is also recyclable and compostable. We believe that since the environment is such a high priority in everyones minds, they should take advantage of this technical splitment. Economic and Government trends are an extremely important part of the external environment. Since consumers are directly affected by the office of n economy, a company should unceasingly be aware of the economic conditions in the countries in which they operate. Currently, all over the world, we are dealing with a recession. The unemployment rate is very high, and as a result, consumers have lessen buying power. When consumers have less income, the original thing that they stop buying are luxury goods. In my opinion, shock is a luxury item and not a necessity. I feel that if Coca-Cola wants to continue to be successful in the current economic conditions, they must begin to produce goods that people must buy. An example of such a product would be dairy products, wish considerably milk.While a consumer who has a strict figure may skip purchase Coke, they testament not skip on purchasing milk. While technological and economic factors are extremely important to Coca-Cola, we feel that currently, the just about important factor that needs to be addressed are ever-changing consumer trends. Today, consumers are becoming more and more health conscious. When people purchase a fodder or drink, we think that they would ideally choose something that has some health benefits to it. Coke has eer been criticized for organism bad for your health ascribable to the sustenance coloring, carbonation and high-fructose corn syrup.While we dont believe that it is likely that Coca-Cola testament turn a loss much crinkle to other dummy competitors such as Pepsi, I do feel that they entrust lose business to companies that are producing healthy alternatives to cola, such as fruit drinks. I feel that Coca-Cola should be innovative and possibly consider changing some of the ingredie nts in Coke, such as using natural sugar sort of of corn syrup and natural sources of food coloring rather than chemicals. Another very important consumer trend that should be observe by Coca-Cola is the increasing population of Hispanics in the United States.Hispanics make up a very large part of the population, and Coke isnt marketed specifically to this ethnic group. We feel that if Coca-Cola marketed more directly to Hispanics, they would increase their profit. Lastly, a very important consumer trend is being green. As previously mentioned, consumers in the United States, as well as the majority of other countries in the world, are very concerned with the effects of defilement and the general well being of the planet. Coca-Colas biggest competition is Pepsi. In the past year, Pepsi has introduced the Pepsi survey Project. This schedule exhibits funding to people in America who have come up with great ideas on how they can change their community. Some of the ideas that have been funded by Pepsi so far are making crop buses more eco-friendly, growing fresh produce at schools to fight childhood obesity and making buildings in cities more energy efficient. In 2010, the Pepsi Refresh Project will give away more than $20 million to people with equal ideas. each(prenominal) month, Pepsi will accept up to 1,000 new-sprung(prenominal) ideas every month and will award up to $1. 3 million in grants to the ideas who have received the most votes by other consumers.We feel that this is a very effective way of bettering the world that we hump in and that Coca-Cola should do something very similar. Pepsi has so far only implemented this program in the United States, so this gives Coca-Cola the opportunity to use this idea on a global scale, and extend the benefits to other countries. We feel that being green is a very important consumer trend, and if Coca-Cola used a similar program across the world, they would begin to develop an image where they have the envi ronments best interest at heart, and will gain the support of people all over the world as well as increasing their profits.