ATLANTA: Consumer behaviour is "changing rapidly everywhere", requiring brands to adopt innovative approaches in response, Muhtar Kent, the chief executive of Coca-Cola, has said.
The soft drinks giant is aiming to double its sales by 2020, and is in the process of purchasing the North American bottling arm of Coca-Cola Enterprises, which previously operated as a separate entity.
Speaking about this deal, Kent said it would lead to a variety of "long-term efficiencies", and "allow the pace of innovation to increase" going forward.
Looking at the current trading climate in North America, he added that the owner of Fanta and Sprite is hoping to provide "fuel for our brands that will ensure we keep winning in the marketplace."
While the beverage maker has come under pressure in its home country as many shoppers turn to healthier options and rein in their expenditure levels, Kent expressed optimism about its prospects.
"We have a wonderful, strengthened portfolio in the United States, and we have demonstrated how well that portfolio is performing, gaining share all the time," he said.
Outside of America, a diverse range of developing nations, including China, India, Brazil and Mexico, are also taking on greater levels of importance.
"The Coca-Cola Company has tremendous growth potential in all the emerging markets, as you see from all our numbers every quarter," Kent stated.
More broadly, he argued that popular preferences are evolving in all of the organisation's key areas of operation, a challenge it intends to meet head on.
"It's important to really stress that consumers are changing rapidly everywhere around the world, not just here in the United States," asserted Kent.
"Consumers are changing in China. Consumers are changing in Russia. Consumers are changing in Western Europe and Latin America."
"It is incumbent upon us, with a heritage of 125 years, to make absolutely sure that we stay ahead of those consumer tastes."
With regard to its communications strategy, Coca-Cola has now rolled out its Open Happiness platform to more than 100 countries across the globe, as it takes an increasingly multinational approach.
"I think our marketing has gone in to [a] higher gear," Kent suggested.
Sponsorship is also set to play an important role in these efforts, as the Atlanta-based firm leverages its high-profile tie-ups with the International Olympic Committee and FIFA.
"Those are long-term plays that we have a very long-standing relationship with ... Our consumers and our brands benefit from that," Kent concluded.
Its other recent innovations have included acquiring a network of digital billboards, operating across a total of 29 sites in 20 cities in the US.
Alongside advertising its own products, these screens will be used to promote partnerships with retailers, such as a recent tie-up with Kroger.
"As a company looking for different ways to get our message out faster and make it more relevant and targeted, we started to look at different approaches," Beatriz Perez, svp, integrated marketing for Coca-Cola North America, said.
