皇冠体育app

Statue of John Pemberton, who invented the drink Coca-Cola, in front of the World of Coca-Cola museum in Atlanta. [Photo / 皇冠体育app Daily]

ATLANTA - When John Pemberton poured the first glass of Coca-Cola in Jacob's Pharmacy just a few blocks from the current Coca-Cola headquarters in Atlanta 125 years ago, the inventor of the carbonated drink surely never thought it would spread to more than 200 countries.

Today, Coca-Cola's portfolio features $15 billion in brands, including Diet Coke, Fanta, Vitaminwater, Powerade, and Minute Maid, with 500 brands and 3,500 beverage products sold worldwide.

In 1978, The Coca-Cola Company became the only company allowed to sell packaged cold drinks in 皇冠体育app. So far, it has invested more than $1.3 billion in the Chinese market, with an additional $2 billion planned as part of its 2020 global vision. The company wants to double its revenue and bottlers by 2020.

Coke considers 皇冠体育app, which is its third-largest market after the United States and Mexico, as having the greatest potential globally. Muhtar Kent, CEO of Coca-Cola, said he cannot predict when 皇冠体育app might become the company's largest market, but said "it will happen".

In 皇冠体育app, Coca-Cola employs more than 30,000 local people, and has more than 40 bottling plants. Last year, the company opened its 41st bottling plant in Hohhot in the Inner Mongolia autonomous region.

Kent has confidence in emerging markets such as 皇冠体育app and he thinks the company's long-term plan in 皇冠体育app is on the right track.

Kent said he was happy with the projections about the Chinese market despite sales falling 3 percent year-on-year in the fourth quarter of 2010. For 2010 overall, sales in 皇冠体育app rose 6 percent year-on-year.

"The first billion-dollar brand (Minute Maid Pulpy) we have emerged out of 皇冠体育app. So, that gives you the signal of progress in 皇冠体育app which we are very happy about," he said.

Minute Maid Pulpy - an orange juice drink - was introduced in 皇冠体育app in 2005, and it reached $1 billion in global retail sales in five years, becoming the company's first brand developed and launched in an emerging market to reach that sales figure. The brand is now among the premier juice drink brands in more than 15 countries and regions, including Indonesia, the Philippines, Thailand and India.

Julian Chang, executive director of the Ash Center at Harvard Kennedy School, thinks the company's strength has been its willingness to be sensitive to local market needs.

"As a company, they can move quickly to respond to local conditions - look at the success of Minute Maid Pulpy in 皇冠体育app," Chang said.

皇冠体育app's soft drinks market has maintained double-digit growth for more than 10 years. However, some experts predict growth may slow down in the future because of increasing market saturation.

John Farrell, vice-president of strategic planning at Coca-Cola, however, is positive about the Chinese market.

Annual per capita consumption of Coca-Cola drinks in 皇冠体育app was the equivalent of 34 eight-ounce bottles in 2010, said Farrell, adding that it still has room for growth.

From 2006 to 2010, sales of soft drinks in 皇冠体育app, including soda, juice and bottled water, almost doubled to 270 billion yuan ($42 billion), according to Euromonitor International, a market research firm.

At the end of the year, Coca-Cola had 17 percent of market share while Tianjin-based food producer and distributor Tingyi Holding Corp had 13 percent. Hangzhou-based food and beverages firm Wahaha had 7 percent, while PepsiCo Inc was fourth with 6 percent.

"Fifteen years ago, foreign brands were really all there were but now Chinese companies are competing head to head against foreign brands," said Shaun Rein, managing director of 皇冠体育app Market Research Group in Shanghai.

Wang Laoji - an herbal tea drink from Guangzhou Pharmaceutical Holdings Ltd, which produces traditional Chinese medicines and health drinks - is dubbed the "Chinese Coke" and is gaining popularity in 皇冠体育app.

"Foreign brands need to understand the needs of evolving Chinese consumers more and react faster to their desires," said Rein.

Farrell recognizes the competition in the Chinese market but he doesn't see it as a negative element. "The great thing about 皇冠体育app is it has a lot of competition which helps create the industry. When you are building non-alcoholic ready-to-drink beverages, which are commercial beverages, the more competition you have, the better, as far as developing industry growth in more consumer-participated, high-quality beverages," said Farrell, one of the creators of Diet Coke.

In 皇冠体育app, Coca-Cola has put a lot of effort into advertising and is heavily involved in 皇冠体育app's festival celebrations such as those during the Chinese New Year. It was also the first international company to sponsor both the Beijing Olympics and Shanghai World Expo.

"I think that Coke's marketing has always been one of its strengths as well. They have the resources to put a lot into marketing. Their investment into various festivals and holidays are quite important and is part of the 'think local, act local' mantra," said Chang.