Globalization has immensely changed the way companies carry out their businesses. As a result of globalization, companies don’t only outsource specialists from other parts of the world but they also target markets all over the world (Chen and Tain-Jy, 2003). Globalization can be referred to as an effort to increase social and cultural relations, an avenue for creation of political interdependence, and a means economic, financial and marketing integrations. All this is made possible through advancements in transport and communications (Clark and Lynette, 2003). In marketing terms, globalization refers to ability of a company to undertake sales and marketing of its products across the international borders.
Coca-Cola Company, one of the most successful companies in the world owes its achievement to globalization. Applying some of the influential globalization techniques, Coca-Cola Company has managed to grow since its establishment before the World War II. To start with, Coca-Cola Company has been keen to develop a strong global consumer market. Through segmentation and differentiation strategy, the company has managed to increase its sales. Through the use of transnational corporations, a company is able to invest in another country through sister companies (Adler, 2000). This approach has helped Coca-cola company to capture the global market at minimal costs.
Pricing is another approach that is helpful in global marketing technique. A global company can lower their prices in one country as they capture the market. Once they gain the consumer confidence, they can increase their price without causing decrease in market share. This price is referred to as competition based price.
Finally, there has been sophisticated promotion of products due to advancements in telecommunications technology. Through this technology, the producers are able to make their products known to the consumers easily. This has the advantage of familiarizing the consumers with the product such that it gets maximum sales once it gets to the market (Adler, 2000).