"We invest 70% of our resources in existing products, 20% in innovations related to existing products, and 10% in pure innovations."
As an example of the 70% investment, Coca-Cola introduced the new 375-ml "pocket size" bottle earlier in the year. Minute Maid Pulpy, created for China, is a pure innovation that has become a best-seller throughout Asia.
Coca-Cola retains the #1 position in InterBrand's ranking of 100 best brands. It's launched a number of sustainability initiatives in recent years, including the PlantBottle (recyclable, biobased packaging).
Most important, Coca-Cola is embracing social media to engage its brand advocates. The CMO says his thinking has changed over the years: "I used to think that loyalty was at the top of the pyramid of classic marketing awareness model, but now it’s advocates."
Coca-Cola is reaching out through Facebook and other social media to stimulate dialogue with brand fans and remain relevant to its target market. The company has more than 54 million Facebook likes, by the way, and 630,000 Twitter followers. It's on YouTube, Pinterest and Flickr as well.
