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Coca-Cola, the world’s largest beverages company, is planning to expand its portfolio by bringing in more global brands targeting the premium segment. The company will also expand its range of lower priced offerings.
T Krishnakumar, President and CEO of Coca-Cola India and South West Asia, said the company has classified its consumer base into three categories, based on which the portfolio segmentation will be done.
Three categories
The first is the affluent segment, wherein consumers are ready to pay for higher priced offerings, particularly those with a price point of over ₹25. Consumers making up the second or mid-tier segment are buyers of its existing products and prefer the ₹15–25 price points. The third segment comprises aspiring consumers who opt for budget-friendly offerings priced between ₹10 and ₹15.
Incidentally, Coca-Cola’s most dominant presence has been in the mid-tier segment, which has target population of 450-500 million.
“We have categorised the population and will focus our portfolio offerings targeting each of these segments. Our strength lies in the mid-tier category; but, we will increase our presence across the other two target segments now,” Krishnakumar told BusinessLine .
The beverage company will shore up presence across both premium and lower priced offerings. It recently introduced ‘Minute Maid Nutriforce’ and ‘Aquarius GLUCOCHARGE’ at the ₹10 price point under the juices and hydration segments. Similarly, it plans to expand the distribution and reach of offerings under the ‘Schweppes’ brand, known mostly for carbonated water, tonic and soda water and ginger ale.
The company will also come up with more products under its ‘Glaceau’ range, targeting the premium segment; juices under the ‘Rani’ brand (available in the Middle East) are being introduced in India too.
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