Question
Here is the question : WHAT COMPANY KEPT A KEY PRODUCT THE SAME PRICE FOR MORE THAN 70 YEARS?
Option
Here is the option for the question :
- Rolex
- General Electric
- Ferrari
- Coca-Cola
The Answer:
And, the answer for the the question is :
Explanation:
Amazingly, between the years of 1886 and 1959, a bottle of Coca-Cola only cost 5 cents, despite the fact that this time frame encompasses not one but two world wars, Prohibition, and the Great Depression. Coca-Cola established a perpetually low pricing for third-party bottlers to purchase its syrup in 1899. The company’s executives evidently didn’t think bottling would ever be a lucrative venture. The brand’s previous principal source of income (soda fountains) remained essentially steady as sales of bottled Coca-Cola surged. However, the conditions of the contract were crystal clear: Coca-Cola had no say over the final price that bottlers charged for their product, and the price of the syrup was set in advance. Therefore, the corporation came up with a brilliant plan: it launched an expensive advertising campaign that claimed a bottle of Coca-Cola cost only five cents, and it forced bottlers to either keep the promise or face the anger of customers. Because of this, Coca-Cola was able to keep its pricing low, which didn’t boost profits but did boost sales, which in turn boosted the company’s ability to sell more syrup.
Coca-Cola is one of the most iconic and recognizable brands in the world, with a history that spans more than a century. One of the remarkable things about Coca-Cola is that the company has managed to keep the price of its flagship product the same for more than 70 years. This is a remarkable feat, given the fluctuations in the economy and the changes that have occurred in the world during this time.
Coca-Cola was first introduced in 1886, and the original formula was sold for just five cents per glass. Over the years, the price of Coca-Cola has fluctuated, rising and falling along with the economy and other external factors. However, in 1959, Coca-Cola made the decision to fix the price of its flagship product at five cents per bottle in the United States. This decision was made in response to the increasing competition in the soft drink industry, and it was intended to help Coca-Cola maintain its market share.
the company has managed to keep its flagship product at the same price for more than 70 years. This is a testament to the strength of the Coca-Cola brand and the loyalty of its customers. It is also a reflection of the company’s commitment to providing a high-quality product at an affordable price.
Of course, keeping the price of Coca-Cola the same for more than 70 years has not been without its challenges. The cost of producing the drink has gone up over time, and the company has had to find ways to cut costs to maintain its profit margins. However, Coca-Cola has been able to do this without compromising the quality of its product or its commitment to its customers.
One of the ways that Coca-Cola has managed to keep the price of its flagship product the same for so long is by diversifying its product line. Over the years, the company has introduced new flavors and varieties of Coca-Cola, as well as other soft drinks and beverages. This has helped the company to maintain its market share and increase its revenue, even as the price of its flagship product has remained the same.
Another factor that has contributed to the longevity of Coca-Cola’s pricing strategy is the company’s marketing efforts. Coca-Cola has always been known for its iconic advertising campaigns, which have helped to build and maintain the brand’s reputation. By investing in marketing and advertising, Coca-Cola has been able to keep its customers engaged and loyal, even as the price of its flagship product has remained the same.
Coca-Cola’s ability to keep the price of its flagship product the same for more than 70 years is a testament to the strength of the company’s brand and its commitment to providing a high-quality product at an affordable price. This pricing strategy has helped Coca-Cola to maintain its market share and increase its revenue, even as the economy and other external factors have changed over time. By diversifying its prod