Given that there are two possible reasons for Coke to have positive cross price elasticity and not certain which on the two exist in the market, then it would be best for the management of Coke to intensify their marketing strategies in order to undercut their competitors by attracting more customers in the market or widen the scope of market segment of Coke. The intensification of marketing strategies would work on both of the two above scenarios since this can either further boost the marketing success of Coke if the first scenario exist or this can uplift the performance of Coke’s marketing strategies if the second one exist.
The said strategy can be attained through increasing the television advertisements of Coke since it has been found out that television strategies of Coke have higher success rate than any other marketing strategies that the said company use to date compared to its competitors like Pepsi. The upcoming Olympics would also be a good chance for Coke to expose their products to the market in large scale especially if the said company has new products to launch in the market.
Large number of people from all over the world watches Olympics and sponsoring the said event would provide Coke with mass exposure to the public and have the chance to show how successful Coke after many years of operating in the international market as well as instilling into the minds of every consumers watching the Olympics their brand image which can provide sustainable growth to the Coca Cola Company in the next coming years.
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