“Well-Being” Macro Trend

 

???????????????????????????????According to Forbes, Coca-Cola occupies the third spot in the list of the world most valuable brands.  This value company has 79.2 billion value brands, and it is recognized around the world of its slogan about refreshment, happiness and fun.  However, for people in Coca-Cola is important to understand the local market in order to promote their products. For instance, Coca-Cola Korea works with the same guidelines that Coca-Cola Atlanta; nevertheless, the concept to promote Coca-Cola’s product is different because of the target the company has in Seoul.  Also, the campaign that Coca-Cola Korea develops has to reflect Korean culture.  However, the bases of the global business have to be studied before developing a local plan.

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With around 50.2 million inhabitants in South Korea, that mean age is approximately 39.7, the concept of Coca-Cola branding in South Korea is focused in old generation.

“By 2050, 70% of the population will be more than 40 years old.”

The macro trend that Coca-Cola uses is call “well-being.” As a result, according the director of marketing in Coca-Cola, the marketing campaign that Coca-Cola Korea develops to the aged audience is about life restoring and relocation.  Also, Sarah mentions that there are six trends that Coca-Cola keeps in mind: influence of women are rising, balance emerging as an issue in our connected lifestyle, the rising value of meaning and purpose  among youth, look and feel is everything more and more, polarized need emerge with growing gap and population among elderly, side effects of hyper-competitive culture. As a result, Coca-Cola uses these trends to develop a business plan which reflect the reality of the Korean market. The three pillars that Coca-Cola Korea uses in order to make a positive difference in communities are: personal wellness (active healthy living, hydration/nutrition, product safety and quality, responsible marketing), communities (women’s economic empowerment, charitable contributions, and human and workplace rights), environment (water stewardship, energy efficiency and climate protection, sustainable packing, and sustainable agriculture).

In order to promote Coca-Cola in Korea, the company uses themes such as Asian pop culture, TV drama, and movies. For instance, several K-pop stars promote Coca-Cola products. Moreover, the emotional approach that Coca-Cola international uses to engage their customers in social media is used as well as in Korea. For instance, because Korean culture is collectivist, and they are always aware of the well-being of the whole community, emotional branding can recall their emotions about happiness and togetherness. Moreover, social media network are considered a very important communication platform to communicate with the consumer. For instance, Coca-Cola Korea provides strong identification of Korean culture by using a group called “Coke friends” that are part of the company and help to nurturing the relationship the company and audience.

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