At its first 2020Vision meeting since 1998, Coca-Cola CEO Muhtar Kent said the company will more than double revenue to $200 billion by 2020, from $95 billion in 2008, Advertising Age reported.
The meeting took place last week with analysts and journalists. Coca-Cola laid out its goals concerning profit, people, portfolio, partners, planet and productivity.
Coke plans to more than double the numbers of servings of its products (including water, soft-drinks, juices) that are consumed by consumers per day to more than 3 billion.
As far as marketing, Kent said the company plans to focus on working across many geographies, cultures and channels, targeting the right consumers in a fragmented media environment.
“People are demanding more and more for their time and attention. People need to be constantly entertained now, [it’s an] ADD economy,” said Joe Tripodi, chief marketing and commercial officer. “We’re changing fundamentally from being TV commercial producers to content developers. … We’re leading a new and unique approach … from purely mass marketing to one-on-one marketing.”
The company will work to be important locally while growing globally. Plans for increasing efforts abroad include eliminating agency duplication to creating a single World Cup campaign to introducing new, global packaging for its juice brands. It also plans to better connect with its key consumers, including teens, moms and multicultural consumers. The marketing team is focused on experimenting with new media, such as digital billboards, social media and in-store advertising, while still planning to continue creating high-profile TV campaigns.