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Why Coca-Cola Has Remained Nigeria’s Top Beverage For 70 Years

Why Coca-Cola Has Remained Nigeria’s Top Beverage For 70 Years

Business, Corporate Stories, Innovation
oca-Cola is one of the world’s most valuable brands for several reasons, including its stellar branding, marketing, and positioning strategy. It is one brand that has mastered the art of selling not just a product but an experience. Coca-Cola becomes ingrained in the culture of the places where it is present. It becomes ingrained in people’s lives. Maintaining the spot as the number one beverage company in Nigeria for such a long time is no small feat. Coca-Cola alone contributes approximately 0.2 per cent of Nigeria’s annual GDP. The brand has served Nigerians longer than Nigeria has been a sovereign state. What’s the secret to its longevity? According to Steve Olenski, a Forbes writer, brands stay long in the market because they make promises and keep to them. Since...
Coca-Cola to cut 4,000 jobs after COVID-19 hits Q2 profits

Coca-Cola to cut 4,000 jobs after COVID-19 hits Q2 profits

Business
Coca-Cola announced Friday it will cut 4,000 jobs in North America as part of a reorganization following a rough second quarter in which Covid-19 slashed profits. As sporting events, theaters and entertainment all shut down to stop the spread of the coronavirus, the beverage maker suffered a 32 percent plunge in net income to $1.8 billion in the April-June period while sales fell 28 percent to $7.2 billion. The iconic American brand, that owns dozens of juice, water and soft drink labels, said it plans to cut down to nine business units from 17 currently, but will offer severance packages to employees costing between $350 million and $550 million. “In order to minimize the impact from these structural changes, the company today announced a voluntary separation ...