La Compañía Coca-Cola (KO): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el fascinante mundo del plan estratégico de Coca-Cola, donde un imperio global de bebidas transforma una bebida carbonatada simple en un fenómeno mundial. El Canvas Model de negocios revela cómo esta empresa icónica aprovecha las asociaciones, la innovación y la narración de cuentos para calmar la sed de miles de millones mientras se genera $ 43 mil millones en ingresos anuales. Desde tiendas locales de conveniencia hasta mercados internacionales, el intrincado modelo comercial de Coca-Cola demuestra cómo una sola marca puede crear un ecosistema global complejo e interconectado que trasciende la mera producción de bebidas.

The Coca -Cola Company (KO) - Modelo de negocios: asociaciones clave

Bottling Partners en todo el mundo

Coca-Cola opera a través de una compleja red global de asociación de embotellado:

Pareja	Región/país	Cuota de mercado
Coca-Cola Femsa	América Latina	44% del volumen de embotellado latinoamericano
Coca-Cola Enterprises	América del norte	37% de las operaciones de embotellado de América del Norte
Bebidas Swire	Porcelana	22% del mercado de embotellado chino

Proveedores agrícolas

Detalles clave de la adquisición de ingredientes:

• Proveedores de azúcar de 30 países
• Adquisición anual de azúcar: 1.9 millones de toneladas métricas
• Abastecimiento de agua de 1.200 cuencas globales

Socios minoristas y de distribución

Canal de distribución	Volumen de ventas anual	Alcance global
Tiendas minoristas	$ 38.7 mil millones	Más de 200 países
Servicio de alimentos	$ 12.3 mil millones	Más de 100 países

Agencias de marketing y publicidad

Inversiones de asociación de marketing global:

• Gastos anuales de marketing: $ 4.2 mil millones
• Asociaciones con 15 principales agencias de publicidad global
• Gasto de marketing digital: $ 1.6 mil millones

Socios de colaboración de sostenibilidad

Tipo de socio	Número de asociaciones	Área de enfoque
ONG ambiental	24 asociaciones globales	Conservación del agua
Organizaciones de reciclaje	37 iniciativas globales	Sostenibilidad del embalaje

The Coca -Cola Company (KO) - Modelo de negocios: actividades clave

Desarrollo e innovación de productos de bebidas

En 2023, Coca-Cola invirtió $ 1.1 mil millones en investigación y desarrollo. La cartera de innovación de productos incluye:

• Variantes de azúcar cero
• Bebidas a base de plantas
• Opciones de bebida baja en calorías

Categoría de innovación	Número de nuevos productos	Penetración del mercado
Cero bebidas de azúcar	17 nuevas variantes	Crecimiento de la cuota de mercado de 8.3%
Bebidas a base de plantas	5 nuevos productos	4.2% de expansión del mercado

Marketing global y gestión de marca

El gasto de marketing en 2023 alcanzó los $ 4.3 mil millones a nivel mundial. Las estrategias de marketing clave incluyen:

• Plataformas de publicidad digital
• Compromiso en las redes sociales
• Programas de patrocinio

Logística de cadena de suministro y distribución

Coca-Cola opera 900 plantas de embotellado en todo el mundo. La red de distribución incluye:

Región	Número de centros de distribución	Volumen de distribución anual
América del norte	287	3.200 millones de casos
Europa	213	2.7 mil millones de casos
Asia Pacífico	346	4.100 millones de casos

Iniciativas de sostenibilidad y responsabilidad social

Las inversiones de sostenibilidad en 2023 totalizaron $ 750 millones. Las áreas de enfoque incluyen:

• Reabastecimiento de agua
• Reciclaje de envases
• Reducción de emisiones de carbono

Expansión de cartera de marcas estratégicas

Coca-Cola posee más de 200 marcas de bebidas en 200 países. La diversificación de la cartera incluye:

Categoría de marca	Número de marcas	Contribución de ingresos
Refrescos carbonatados	45	62% de los ingresos totales
Bebidas no carbonadas	155	38% de los ingresos totales

The Coca -Cola Company (KO) - Modelo de negocio: recursos clave

Reconocimiento de marca global fuerte

Valor de marca a partir de 2023: $ 64.4 mil millones

Ranking de marca global	5ta marca más valiosa en todo el mundo
Cartera de marca	Más de 200 marcas de bebidas
Presencia en el mercado	Más de 200 países

Red de distribución extensa

Detalles de la infraestructura de distribución:

• Más de 1.9 millones de puntos de venta minoristas a nivel mundial
• Más de 225 socios de embotellado en todo el mundo
• Servicio diario de aproximadamente 1.600 millones de porciones de consumo

Receta patentada y fórmulas de marca

Receta secreta de Coca-Cola	Encerrado en la bóveda del banco sunetrust en Atlanta
Registros de marca registrada	Más de 500 marcas comerciales globales

Infraestructura de fabricación y embotellado

Capacidades de producción:

• Instalaciones de fabricación totales: más de 70 en todo el mundo
• Capacidad de producción anual: 1.900 millones de casos unitarios
• Gastos de capital en 2022: $ 1.5 mil millones

Capacidades de investigación y desarrollo

Inversión en I + D (2022)	$ 395 millones
Centros de innovación	5 centros de innovación global
Auntos de nuevos productos (2022)	Más de 30 nuevas variantes de bebidas

Valoración total de recursos clave (2023): estimado de $ 95.6 mil millones

The Coca -Cola Company (KO) - Modelo de negocio: propuestas de valor

Cartera de bebidas refrescante y diversa

A partir de 2024, Coca-Cola mantiene una cartera de más de 200 marcas en múltiples categorías de bebidas. El volumen total de bebidas globales alcanzó 29.6 mil millones de casos unitarios en 2023. Las categorías de productos incluyen:

Categoría	Número de marcas	Cuota de mercado global
Refrescos carbonatados	86	43.7%
Agua	52	16.9%
Jugo/batidos	38	12.5%
Bebidas energéticas	24	8.3%

Calidad y sabor consistentes en los mercados

Las métricas de control de calidad global demuestran consistencia:

• 99.6% Tasa de cumplimiento de la calidad del producto en todo el mundo
• Más de 3.900 puntos de control de calidad por ciclo de producción
• $ 1.1 mil millones invertidos en infraestructura de garantía de calidad en 2023

Conexión emocional a través de la narración de cuentos de marca

Métricas de valoración de la marca:

Métrico	Valor 2023
Valor de marca global	$ 88.6 mil millones
Compromiso de las redes sociales	237 millones de seguidores
Gasto de marketing anual	$ 4.2 mil millones

Ofertas de productos convenientes y accesibles

Estadísticas de distribución y accesibilidad:

• Presente en más de 200 países
• Más de 24 millones de puntos de venta minoristas atendidos
• 1.9 mil millones de porciones distribuidas diariamente

Variaciones de productos de salud y bienestar

Desglose del segmento de productos orientado a la salud:

Tipo de producto	Ingresos anuales	Índice de crecimiento
Bebidas bajas/sin azúcar	$ 7.3 mil millones	12.4%
Bebidas funcionales	$ 3.6 mil millones	8.7%
Bebidas a base de plantas	$ 2.1 mil millones	15.2%

The Coca -Cola Company (KO) - Modelo de negocios: relaciones con los clientes

Compromiso digital a través de las redes sociales

A partir de 2024, la compañía Coca-Cola mantiene una sólida presencia en las redes sociales con:

• Seguidores de Instagram: 2.6 millones
• Seguidores de Twitter: 3.8 millones
• Seguidores de Facebook: 108 millones
• Suscriptores de YouTube: 1.5 millones

Programas de fidelización y recompensas del cliente

Programa de fidelización	Miembros	Valor anual
Programa de recompensas de Coca-Cola	15.3 millones	$ 247 millones
Mis recompensas de Coca -Cola	12.7 millones	$ 189 millones

Campañas de marketing personalizadas

Inversión de marketing para campañas personalizadas en 2024: $ 1.4 mil millones

Community and Patroconship Engagement

Gasto de patrocinio en 2024:

• Patrocinios deportivos: $ 423 millones
• Eventos comunitarios: $ 187 millones
• Festivales de música global: $ 92 millones

Comentarios de los clientes y mejora continua

Canal de retroalimentación	Interacciones anuales	Tasa de respuesta
Línea directa de servicio al cliente	2.6 millones	92%
Plataforma de comentarios en línea	1.9 millones	88%

The Coca -Cola Company (KO) - Modelo de negocios: canales

Tiendas minoristas y supermercados

A partir de 2024, Coca-Cola se distribuye a través de 24,6 millones de puntos de venta minoristas a nivel mundial. El canal de supermercados genera aproximadamente $ 45.3 mil millones en ventas minoristas anuales para la compañía.

Canal minorista	Volumen de ventas anual	Alcance global
Supermercados	$ 45.3 mil millones	Más de 200 países
Tiendas de comestibles	$ 22.7 mil millones	Más de 150 países

Tiendas de conveniencia y estaciones de servicio

Las tiendas de conveniencia representan el 35% de las ventas de bebidas totales de Coca-Cola, generando $ 37.8 mil millones anuales. Más de 1,2 millones de tiendas de conveniencia llevan productos Coca-Cola.

Máquinas expendedoras

Coca-Cola opera 3.2 millones de máquinas expendedoras a nivel mundial, generando $ 18.5 mil millones en ingresos anuales a través de este canal.

Tipo de máquina expendedora	Unidades globales	Ingresos anuales
Máquinas de bebidas frías	2.1 millones	$ 12.3 mil millones
Máquinas de fuentes	1.1 millones	$ 6.2 mil millones

Plataformas de comercio electrónico en línea

La cuenta de ventas digitales por $ 8.6 mil millones, lo que representa el 7.2% de los ingresos totales de la compañía en 2024.

• Ventas directas de Amazon: $ 2.4 mil millones
• Plataforma en línea de Walmart: $ 1.9 mil millones
• Otros canales de comercio electrónico: $ 4.3 mil millones

Servicio de alimentos y puntos de venta de hospitalidad

Los canales de restaurantes y hospitalidad generan $ 29.7 mil millones anuales, cubriendo más de 500,000 ubicaciones de servicios de alimentos en todo el mundo.

Tipo de salida	Venta anual	Ubicaciones globales
Restaurantes	$ 18.3 mil millones	350,000
Hoteles/hospitalidad	$ 11.4 mil millones	150,000

The Coca -Cola Company (KO) - Modelo de negocios: segmentos de clientes

Consumidores globales en grupos de edad

Coca-Cola atiende 1,9 mil millones de porciones diarias en 200 países. Desglose del segmento de edad:

Grupo de edad	Penetración del mercado (%)
Niños (0-12)	22%
Adolescentes (13-19)	28%
Adultos jóvenes (20-35)	35%
Adultos (36-55)	12%
Seniors (56+)	3%

Individuos conscientes de la salud

Cartera de productos para consumidores conscientes de la salud:

• Coca-Cola Zero Sugar: 18% de participación de mercado
• Smartwater: ingresos anuales de $ 1.2 mil millones
• Té honesto: 5% de mercado de bebidas orgánicas
• Vitaminwater: ventas anuales de $ 750 millones

Adultos jóvenes y millennials

Demografía de marketing dirigido:

Segmento	Tasa de consumo
Millennials (25-40)	42% del consumo total de bebidas
Gen Z (18-24)	31% del consumo total de bebidas

Diferentes mercados culturales y regionales

Distribución del mercado regional:

Región	Cuota de mercado (%)	Ingresos anuales (miles de millones)
América del norte	37%	$22.5
Europa	25%	$15.3
Asia Pacífico	20%	$12.7
América Latina	12%	$7.6
África	6%	$3.9

Diversos antecedentes socioeconómicos

Análisis de segmento de ingresos:

Nivel de ingresos	Penetración del mercado (%)
Bajos ingresos	25%
Ingresos medios	55%
Altos ingresos	20%

The Coca -Cola Company (KO) - Modelo de negocio: Estructura de costos

Adquisición de materia prima

En 2023, los costos de materia prima de Coca-Cola totalizaron $ 12.4 mil millones, con componentes clave que incluyen:

Materia prima	Costo anual
Azúcar	$ 3.6 mil millones
Materiales de embalaje	$ 4.2 mil millones
Concentrar ingredientes	$ 2.8 mil millones

Gastos de fabricación y producción

Los costos totales de fabricación en 2023 fueron de $ 8.7 mil millones, desglosados ​​de la siguiente manera:

• Costos operativos de la instalación de producción: $ 3.9 mil millones
• Mantenimiento del equipo: $ 1.5 mil millones
• Energía y servicios públicos: $ 1.2 mil millones
• Costos laborales: $ 2.1 mil millones

Inversiones de marketing y publicidad

El gasto de marketing de Coca-Cola en 2023 alcanzó los $ 4.3 mil millones, asignados a través de:

Canal de marketing	Gasto
Publicidad digital	$ 1.2 mil millones
Medios tradicionales	$ 1.8 mil millones
Patrocinios	$ 750 millones
Marketing de eventos	$ 550 millones

Costos de distribución y logística

Los gastos de distribución para 2023 totalizaron $ 6.5 mil millones, que incluyen:

• Transporte: $ 3.2 mil millones
• Operaciones de almacén: $ 1.7 mil millones
• Mantenimiento de la flota: $ 850 millones
• Gestión de inventario: $ 750 millones

Gastos de investigación y desarrollo

Las inversiones de I + D en 2023 ascendieron a $ 1.1 mil millones, centradas en:

• Desarrollo de nuevos productos: $ 600 millones
• Innovación de bebidas: $ 350 millones
• Tecnologías de sostenibilidad: $ 150 millones

The Coca -Cola Company (KO) - Modelo de negocios: flujos de ingresos

Venta de productos de bebidas

En el año fiscal 2023, la compañía Coca-Cola informó ingresos netos de $ 43.3 mil millones. El desglose de ventas de productos de la compañía incluye:

Categoría de productos	Contribución de ingresos
Refrescos brillantes	$ 24.5 mil millones
Bebidas todavía	$ 15.2 mil millones
Agua, agua mejorada y bebidas deportivas	$ 3.6 mil millones

Licencias y asociaciones de marca

Coca-Cola genera ingresos significativos a través de acuerdos estratégicos de licencia de marca. Las fuentes clave de ingresos de licencias incluyen:

• Licencias de mercancías: estimado de $ 250-300 millones anualmente
• Acuerdos de asociación de marca con minoristas globales
• Licencias de propiedad intelectual a socios de embotellado

Expansión del mercado internacional

Distribución de ingresos geográficos para 2023:

Región	Contribución de ingresos
América del norte	$ 21.6 mil millones
Europa, Medio Oriente y África	$ 8.7 mil millones
América Latina	$ 6.2 mil millones
Asia Pacífico	$ 6.8 mil millones

Cartera de productos diversificados

Ingresos de diversos segmentos de bebidas:

• Refrescos: 56.6% de los ingresos totales
• Bebidas no carbonadas: 35.1% de los ingresos totales
• Otras categorías de bebidas: 8.3% de los ingresos totales

Merchandising y extensiones de marca

Las fuentes de ingresos adicionales incluyen:

• Ventas de mercancías de marca: aproximadamente $ 150 millones anuales
• Monetización de la plataforma digital
• Líneas de productos promocionales y de marca compartida

The Coca-Cola Company (KO) - Canvas Business Model: Value Propositions

The core value proposition of The Coca-Cola Company rests on delivering consistent, globally recognized products that are available almost everywhere you look.

Consistent, globally recognized taste and quality

You get the same taste profile whether you're buying a product in Atlanta or Asia Pacific. This consistency underpins massive brand equity. The brand value in 2025 reached an estimated $111.392-billion according to Kantar's BrandZ report, showing a 13% growth from the previous year. Furthermore, Brand Finance valued the brand at $46.3bn in 2025, marking a 32% increase. This strength is reflected in a Brand Strength Index (BSI) score of 93.4 out of 100 in 2025. The company commands over 40% of the global non-alcoholic beverage sector sales.

Ubiquitous availability in over 200 countries

The sheer scale of distribution is a key value driver. The Coca-Cola Company makes its products available in more than 200 countries and territories. This reach is supported by a vast physical footprint.

Distribution Metric	Amount/Figure
Countries/Territories Served	Over 200
Global Vending Machines	More than 16 million
Global Bottling Partners	Around 225
Daily Servings Consumed Globally	Approximately 1.9 billion

Diverse product portfolio (sparkling, water, coffee, tea)

You aren't just buying one thing; you're buying access to a massive ecosystem of beverages that capture different consumption moments. The portfolio spans sparkling, water, sports drinks, juices, teas, and coffees. This diversification helps stabilize revenue, as seen with the 5% organic revenue growth in Q2 2025, even when global unit case volume declined by 1%.

Here's a look at recent volume performance across key categories:

• Water, sports drinks, coffee and tea volume grew 3% in Q3 2025.
• Sparkling flavors grew 2% in Q4 2024.
• Juice, value-added dairy, and plant-based beverages rose 1% (Q3 2024 data).
• The company acquired Costa Coffee in 2019 for $4.9 billion, signaling commitment to the coffee segment.

Health-conscious options like Coca-Cola Zero Sugar

Meeting the shift toward lower-sugar options is a clear value driver, evidenced by strong volume gains in key zero-sugar and light variants. This focus helps offset softness in other areas. For instance, in Q3 2025, Coca-Cola Zero Sugar volume increased by 14% across all geographic operating segments.

Performance of key low/no-sugar and related brands:

• Coca-Cola Zero Sugar volume growth: 14% (Q3 2025).
• Diet Coke/Coca-Cola Light volume growth: 2% (Q3 2025).
• Diet Coke achieved its fourth consecutive quarter of volume growth in North America (Q2 2025).

Emotional connection and nostalgia through brand storytelling

The brand leverages deep-seated emotional ties, which translates directly into pricing power and consumer preference. The company continued to drive consumer engagement in 2025 by globally relaunching the iconic "Share a Coke" campaign. This emotional resonance allows the company to drive price/mix growth, which was 6% in Q2 2025. The overall TTM revenue as of September 30, 2025, stood at $47.663B.

The Coca-Cola Company (KO) - Canvas Business Model: Customer Relationships

The Coca-Cola Company focuses its customer relationships on massive emotional resonance, increasingly layered with data-driven digital precision.

Mass-market emotional branding and advertising

The foundation remains broad, cultural storytelling designed to evoke feelings of happiness and togetherness. This strategy has delivered tangible value, with Trademark Coca-Cola adding $40 billion in retail value over the past three years, as of mid-2025. The company is channeling significant investment into localized campaigns and digital storytelling to maintain this relevance. For instance, the relaunch of the iconic "Share a Coke" campaign in Q2 2025 activated on more than 10 billion bottles and cans across over 120 countries, featuring over 30,000 tailored names. The company still expects organic revenue growth for the full year 2025 to be in the range of 5% to 6%, supported by this marketing resilience. The Coca-Cola Company gained value share in total nonalcoholic ready-to-drink ("NARTD") beverages in Q2 2025.

Key Promotional and Brand Metrics (2025 Data)

Metric	Value/Range	Context
Trademark Coca-Cola Retail Value Added (Past 3 Years)	$40 billion	As of mid-2025, reflecting brand equity growth.
'Share a Coke' Relaunch Countries	120+	Q2 2025 activation scope.
'Share a Coke' Personalized Names	30,000+	Q2 2025 local market tailoring.
Expected Full Year 2025 Organic Revenue Growth	5% to 6%	Company guidance reflecting market performance.
Coca-Cola Zero Sugar Volume Growth (Consecutive Quarters)	Double-digit	Reported for the fourth consecutive quarter in Q2 2025.

Data-driven personalization via digital channels

The Coca-Cola Company is moving toward a refreshed marketing model that blends digital, live, and in-store touchpoints. Studio X, its in-house content engine, enables the rapid creation of data-driven, personalized marketing content. This strategy is crucial for engaging younger demographics like Millennial and Gen Z consumers through social media and influencer collaborations. The company leverages AI and predictive analytics to ensure campaigns feel personal and relevant. This focus on digital engagement is supported by industry trends, where 91% of consumers are more likely to engage with brands that personalize content and offers based on their preferences. Furthermore, members who redeem personalized rewards in general loyalty programs spend 4.3 times more than those redeeming non-personalized rewards.

Loyalty programs and direct consumer engagement

The Coca-Cola Company is actively redefining its direct consumer engagement through a revamped loyalty program, shifting focus to digital platforms to make participation easier and more fun. This overhaul moves away from older methods requiring manual entry of codes found under bottle caps. The goal is to secure deeper user data for insights, which aligns with the broader industry finding that 80% of customers say the experience a company provides is just as important as its products or services. The company is prioritizing relationship-building over pure transactions. General loyalty statistics show that 85% of customers say loyalty rewards make them more likely to shop with brands, and members of free programs buy more frequently and spend more, with 76% saying they spend more.

The shift to digital engagement is critical because:

• The revamped program aims for easier reward redemption.
• It ensures brands have a deep set of user data for mining insights.
• It follows the trend where over 70% of loyalty program members prefer to engage via mobile app.

Dedicated B2B sales support for retailers and restaurants

Customer relationship management extends beyond the end consumer to the vast network of retailers and distributors. The Coca-Cola Company drives loyalty with its distributors by creating a 360-degree view of their operations and tracking their purchases. This B2B focus is essential for maintaining shelf presence and securing placement in restaurants and retail outlets. Partnerships with fast-food chains, often involving value meal deals, demonstrate leveraging this vast distribution network to buoy sales in key markets like the U.S. The company's Q1 2025 unit case volume growth of 2% was led by markets including India, China, and Brazil, showing the effectiveness of this deep channel engagement.

The Coca-Cola Company (KO) - Canvas Business Model: Channels

You're looking at how The Coca-Cola Company gets its product into the hands of the nearly 1.9 billion people who enjoy its beverages daily across more than 200 countries. The channel strategy is heavily reliant on its franchise system.

Independent and company-owned bottling partners

The Coca-Cola Company operates through a complex franchise model, selling beverage concentrate to bottling partners who then produce, package, and distribute the finished product. In 2024, the concentrate division accounted for 59% of group revenue, while the finished-product business, which includes company-owned bottling, was 41% of revenue.

As of late 2024, The Coca-Cola Company had 81 owned or leased bottling locations globally. The Bottling Investments operating segment showed unit case volume growth of 2% in the first quarter of 2025.

Bottling Partner Metric	Value/Percentage
Concentrate Division Revenue Share (2024)	59%
Finished-Product Division Revenue Share (2024)	41%
Owned/Leased Bottling Locations (End of 2024)	81
Bottling Investments Segment Volume Growth (Q1 2025)	2%

The largest bottler by volume is Coca-Cola FEMSA, operating in various Latin American countries and the Philippines. Coca-Cola Consolidated, the largest bottler in the United States, serves approximately 60 million consumers across 14 states and the District of Columbia.

Physical retail: supermarkets, convenience stores, gas stations

This segment captures the vast majority of at-home consumption. For Coca-Cola Consolidated in the third quarter of 2025, net sales for the Sparkling category increased 4.7%, driven by multi-pack, take-home packages sold within its large store, club and value channels. Still category net sales for the same bottler rose 9.9% in Q3 2025, primarily from sales in large retail and convenience stores.

Globally, The Coca-Cola Company's overall unit case volume grew 1% in the third quarter of 2025. Within this, Coca-Cola Zero Sugar was a standout, with unit case volumes up 14% globally in Q3 2025.

Food service outlets: restaurants, cinemas, vending machines

The away-from-home channel is critical for immediate consumption. While direct channel revenue splits aren't explicitly provided for this segment, transaction data gives a view into channel activity. In the juice drinks category, the company added more than 130 million transactions year-to-date (as of Q2 2025) by focusing on lower-cost single-serve offerings in markets like Latin America and India.

The company's products are enjoyed 1.9 billion times daily across the globe.

• Global Unit Case Volume growth (Q3 2025): 1%.
• Water, sports, coffee and tea case volumes rose 3% in Q3 2025 (one segment report).
• Trademark Coca-Cola unit case volumes grew 1% globally in Q3 2025.

E-commerce platforms and mobile ordering apps

Digital commerce is an area of strategic focus, often integrated through retailer partnerships. In a specific market analysis for India in late 2025, quick commerce platforms contributed nearly two-thirds of all online grocery orders, with adoption accelerating at 8-9% annually in smaller cities. In that context, The Coca-Cola Company leveraged retailer-linked data to optimize its sugar-free portfolio, achieving a 39% improvement in Return on Ad Spend (ROAS) and 40% lower acquisition costs in the high-intent shopper segment.

Smart vending machines for personalized experiences

Specific financial or unit numbers for smart vending machines are not publicly detailed in the latest reports. The focus remains on leveraging data through partners to create more transactions at the point of sale, as seen in the 130 million transaction increase mentioned earlier in specific categories.

The Coca-Cola Company (KO) - Canvas Business Model: Customer Segments

You're looking at the core groups The Coca-Cola Company targets to keep its global engine running. This isn't just about selling soda; it's about segmenting the entire planet's thirst into manageable, profitable buckets. The sheer scale is hard to grasp-The Coca-Cola Company beverages are available in over 200 countries and territories, with approximately 1.9 billion servings consumed daily across its 500+ brands.

The segmentation strategy recognizes that a teenager in Tokyo has different needs than a family shopper in Chicago or a price-sensitive consumer in Lagos. The company's 2024 annual revenue hit $47.1 Billion, and Q3 2025 net revenues were $12.5 billion, showing the massive financial scale supported by these customer groups.

Here's a breakdown of the primary customer segments The Coca-Cola Company focuses on:

• Global mass market consumers of all demographics: This is the foundation, targeting teens and young adults who drive volume for flagship sparkling beverages.
• B2B partners: The essential network of bottlers, retailers, wholesalers, and foodservice operators.
• Health-conscious individuals: A strategic growth priority demanding low/no-sugar and functional options.
• Emerging market consumers: Young, expanding populations seeking affordable indulgence and value.

The company's success hinges on tailoring its 500+ brands to these distinct groups. For instance, in Q3 2025, Trademark Coca-Cola volume grew 1%, while Coca-Cola Zero Sugar volume jumped 14% globally, showing the dual focus on core and health-oriented segments.

Customer Segment Focus	Key Characteristic/Driver	Representative Data Point (Late 2025)
Global Mass Market (Teens/Young Adults)	High-sugar, high-caffeine consumption occasions	Trademark Coca-Cola volume grew 1% in Q3 2025.
Families (Retail Channel)	Multi-pack purchases for diverse hydration/juice needs	The Coca-Cola brand is valued at roughly $80 billion.
Health-Conscious Adults	Demand for low/no-sugar and functional beverages	Coca-Cola Zero Sugar unit case volumes grew 14% globally in Q3 2025.
Emerging Market Consumers	Rising disposable incomes, demand for affordability	Coca-Cola HBC AG's Emerging markets segment saw 17.4% organic revenue growth in Q2 2025.

B2B partners: retailers, wholesalers, and food service operators

This segment is the backbone of distribution and visibility. The Coca-Cola Company doesn't just sell to consumers; it sells to the entire ecosystem that gets the product into the consumer's hand. You're talking about a massive, established network. The company collaborates with a network of around 225 bottling partners globally. This franchise model is vital for market penetration.

For foodservice, the global fountain syrup division is key, maintaining long-term visibility contracts, such as the primary soft drink supplier relationship with McDonald's since 1955. Retailers and wholesalers are targeted with specific packaging strategies to meet varied income levels across geographies.

Health-conscious individuals seeking low/no-sugar options

This group drives the portfolio diversification away from traditional sparkling. The shift is clear in the numbers: Coca-Cola Zero Sugar is a major success story, achieving double-digit growth recently. In Q3 2025, Coca-Cola Zero Sugar unit case volumes were up 14% across all geographic operating segments. Furthermore, Diet Coke/Coca-Cola Light saw growth of 2% in the same quarter.

The commitment here is portfolio-wide; for example, Water, sports, coffee, and tea categories grew 3% in Q3 2025. In Europe, the company specifically introduced 'Coca-Cola Stevia No Sugar,' which now accounts for 10% of Coke zero-sugar volume in that region. This segment is not a niche; it's a core driver of growth, evidenced by Coca-Cola Zero Sugar holding a market share exceeding 50% in several key markets like the U.S. and Europe.

Emerging market consumers seeking affordable indulgence

Emerging markets-Latin America, Africa, the Middle East, Eastern Europe, and emerging Asia-Pacific-are where volume expansion is most pronounced. The Coca-Cola HBC AG segment, covering Africa, Central, and Eastern Europe, was a standout performer in Q2 2025, delivering 17.4% organic revenue growth. India, China, and Brazil are specifically noted as volume growth leaders.

The strategy here is explicitly about affordability to capture price-sensitive consumers. This means leveraging localized packaging like 1.25-liter PET bottles in Nigeria. This focus on value helps balance softer sentiment in developed markets where North America saw unit case volume decline by 3% in Q1 2025. The ability to offer value packaging is what keeps the consumer base engaged in these high-potential regions. Finance: draft 13-week cash view by Friday.

The Coca-Cola Company (KO) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive The Coca-Cola Company's operations as of late 2025. These are the major drains on cash that the company must manage to keep its global beverage empire running profitably. It's a mix of physical commodities, massive brand spending, and complex logistics.

High cost of raw materials (sweeteners, aluminum, water)

Input costs remain a persistent pressure point. Aluminum, critical for can production, saw significant volatility, with prices spiking nearly 20% in the first quarter of 2025 compared to the first quarter of 2023. While PET plastic prices have been more stable, other manufacturing costs, like electricity and labor, have seen increases around 8%. The company's total Cost of Goods Sold for the twelve months ending September 30, 2025, was reported at $18.287B. Water stewardship is a major operational focus, with the Coca-Cola system's water use ratio in 2024 being 1.78 liters of water used per liter of beverage, an improvement from the 2015 baseline of 1.98.

The primary cost components for The Coca-Cola Company (KO) are summarized below:

Cost Component Category	Financial Metric/Amount (Latest Available)	Year/Period
Cost of Goods Sold (Total)	$18.324B	Fiscal Year 2024
Selling, General, and Administrative (SG&A)	$14.37B	TTM ending September 30, 2025
Advertising Expense (Peak)	$5.146 billion	Fiscal Year 2024
Average Annual Advertising Expense	$4.231 billion	FY 2020 - FY 2024
Capital Expenditures (Total)	$2.1 billion	Full Year 2024

Significant marketing and advertising expenditure

Marketing is a massive, non-negotiable cost, acting as the motor for top-line growth. The advertising expense for fiscal year 2024 reached a peak of $5.146 billion. The company continues to pivot its spending aggressively toward digital channels, with digital comprising 60% of its total spend, up from 30% in 2019. This investment is designed to reinforce brand values and foster emotional connections.

Costs associated with bottling and distribution logistics

While The Coca-Cola Company focuses on concentrate sales, the costs associated with its system partners, including logistics and distribution, are significant. For the consolidated bottler, Coca-Cola Consolidated, Selling, Delivery and Administrative (SD&A) expenses in the first quarter of 2025 were $12.1 million higher than the prior year, representing 27.7% of net sales. For the parent company, KO's SG&A expenses for the Trailing Twelve Months (TTM) ending September 30, 2025, stood at $14.37B.

The structure of these selling and administrative costs involves several key areas:

• Labor costs related to annual wage adjustments.
• Inflationary pressures across various expense categories.
• Costs associated with managing the global supply chain and distribution network.

Operating expenses for company-owned bottling investments

The ongoing strategy of refranchising bottling operations directly impacts the reported operating expenses and income structure. For The Coca-Cola Company (KO), the unit case volume for its Bottling Investments segment declined 26% in the fourth quarter of 2024, largely due to these refranchising activities. This refranchising impact was a key driver in the expansion of the comparable operating margin for the core business in the fourth quarter of 2024. The comparable currency neutral operating income for the Bottling Investments segment declined 3% in that same quarter.

R&D and sustainability investment costs

Investment in sustainability is becoming a quantified cost center. For Coca-Cola HBC in 2024, investments supporting carbon reduction included €340 million in Operating Expenditure (Opex), primarily for rPET (recycled PET) support, and €65 million in Capital Expenditure (Capex) for energy and logistics technologies. Separately, Coca-Cola HBC reported €131.1 million in Capex in 2024 specifically for projects aimed at reducing emissions. Research and Development expenses for The Coca-Cola Company were reported as $0B for the full year 2024, with the TTM ending September 30, 2025, reported at $0M, according to one data source.

The Coca-Cola Company (KO) - Canvas Business Model: Revenue Streams

You're looking at how The Coca-Cola Company actually books its sales, which is a mix of high-margin concentrate sales and direct sales from its company-owned bottling operations. Honestly, understanding this split tells you a lot about their operating leverage.

The company is projecting a total net revenue of $48.15 billion for FY2025. That's the top-line number we're working with for the full fiscal year. On the growth front, management reiterated expectations for organic revenue growth to land between 5% to 6% in 2025, which shows they are still driving pricing power and volume, even with currency headwinds.

The revenue streams are fundamentally split between the core concentrate/franchise model and the direct-to-consumer sales from the Bottling Investments Group. The franchise model, where they sell the secret sauce (concentrates and syrups), is the engine for high-margin, predictable revenue. The Bottling Investments Group handles the capital-intensive side-manufacturing, packaging, and distributing finished products in certain territories.

Here's a look at the latest available segment revenue data, which closely maps to these revenue sources, based on the Trailing Twelve Months ending September 30, 2025:

Revenue Source Proxy (Segment)	TTM Revenue (Ending Sep 30, 2025)	Primary Revenue Type
Operating Segments (Concentrate/Franchise)	$37.93 Billion	Sale of concentrates and syrups to bottling partners; Licensing and franchise fees
Bottling Investments Group	$5.77 Billion	Sale of finished products
Global Ventures	$3.13 Billion	Concentrate/Finished Goods Mix (Newer/Strategic Brands)
Corporate	$121.00 Million	Other/Intercompany
Intersegment Eliminations	-$1.02 Billion	Non-operating Adjustment

The sale of concentrates and syrups to bottling partners remains the backbone. This revenue stream is generated across the major geographic operating segments. For instance, in Q3 2025, concentrate sales were reported as even with unit case volume, indicating that the 6% organic revenue growth came from price/mix actions, which is a key indicator of pricing power in the concentrate business.

The sale of finished products from the Bottling Investments Group is a smaller, but still significant, portion of the total. For the three months ending September 26, 2025, this segment saw unit case volume grow 2%, driven by Africa and India, though impacted by ongoing refranchising efforts. This segment's revenue is more capital-intensive, so you watch its margins closely.

Licensing and franchise fees from bottlers are inherently tied to the concentrate sales model. When you see growth in concentrate sales volume or price/mix in the operating segments, that directly reflects stronger underlying franchise performance and fee collection. For example, in Q1 2025, organic revenue growth of 6% included a 1% increase in concentrate sales, showing this stream is still expanding.

You can see the geographic concentration of the concentrate/franchise revenue stream here:

• North America (Concentrate/Franchise Proxy): $19.32 Billion TTM Sep 30, 2025
• Europe, Middle East, and Africa (Concentrate/Franchise Proxy): $10.62 Billion TTM Sep 30, 2025
• Latin America (Concentrate/Franchise Proxy): $6.28 Billion TTM Sep 30, 2025
• Asia Pacific (Concentrate/Franchise Proxy): $5.72 Billion TTM Sep 30, 2025

The company's focus on price/mix is critical to this revenue model, as seen in Q3 2025 where price/mix grew 6% while concentrate sales were even, meaning they extracted more value from each unit sold through the franchise network.

Finance: draft 13-week cash view by Friday.