日本市场可乐产品分析报告(3)

CONFIDENTIALThisreportissolelyfortheuseofclientpersonnel.Nopartofitmaybecirculated,quoted,orreproducedfordistributionoutsidetheclientorganizationwithoutpriorwrittenapprovalfromMcKinsey&Company.ThismaterialwasusedbyMcKinsey&Companyduringanoralpresentation;itisnotacompleterecordofthediscussion.DiscussiondocumentDecember2000CokeCaseStudy–WinninginJapanNJ-262408.756/001117NbgeoHR11RatingRationaleProductProductandcategoryselectionOffersmanylocalizedbrands,includingbrandsinnewcategories(75%ofsales)ProductsoptimizedforJapanmarketChangesformulationsforlocaltests(e.g.,FantaGoldenPineapple)CapabilitiesResourcesSignificantresourcesandattentiondedicatedtomostprofitablemarketResearchanddevelopmentEffectivelydevelopscopiesofmostpopularlocalbrands(e.g.,coffeesandteas);hashadtodevelopnewskillsindevelopingnon-carbonatedbeveragesMarketrelationsBottlersalliancessmoothedmarketentryandcontinuingoperationsforCokeinJapanDistributionandsaleschannelsRelationshipwith17bottlers,owns930,000vendingmachines(overtwicethenumberofcompetitors)MarketingDevoteshugeresourcestoadvertisingcampaignsandpromotedactivitiesresultinginstoryandbrandimageAlliancesandacquisitionsFrequentlyallieswithbottlers,restaurantsandmarketingagencies(e.g.,supplyalliancewithMcDonald’s,partnershipwithDenisu)OrganizationAspirationandpriorityJapanregionmadepriorityandstrongesttalentwasdeployedthere(e.g.,currentCEOusedtoheadJapan,currentchiefofmarketingusedtoheadmarketingforJapan)TalentTensionwithlocalstaff(almost10%ofJapanofficeisforeigners)DecisionmakingandresponsibilitiesMostprofitablemarketaftertheU.S.(17%-20%ofoverallprofit);wellrespectedCulture,valuesandstyleReflectsmanycharacteristicsoflocalculturebutretainskey“winning”factorsfromU.S.culture(e.g.,moreaggressivethantraditionalJapanesecultures)CoordinationmechanismsAppliesbestpracticesinJapantobusinessesandpeoplemanagementFINGERPRINT–COKEHighLowNJ-262408.756/001117NbgeoHR12COKEINJAPANCapabilities•Localizesphysicalassets;bottlinganddistributionmanagedthroughalliances;bottlingalliancesaretypicallyinclusive–17bottlersinJapan–Createsdirectdistributionsystemtostoresthroughbottlers•Offersmarketing,manufacturing,andinvestmentsupporttopartners,whenneeded•HassupplyallianceswithMcDonalds•Spendshugeresourcesoninfluencerrelationships•Partnerswithlocalagenciesformarketingcapabilities(e.g.,Dentsu)•CustomerpulldemandinproductpushJapan–UsessegmentmarketingtounderstandcustomerbehaviorOrganization•StrongcommunityfeeltoCoke–Holdsconventionsforbottlers–Distributesbottlersmagazine•Compensationiscompetitive–attractsgraduatesfromtopschools•Almost10%ofJapanofficeisforeigners–somedegreeoftensionwithlocalstaff;stillhas“uglyAmerican”syndrome;seniorJapaneseexperienceglassceiling•Japanseenasstrongprogressionpath–CEOusedtoheadJapanProduct•Adaptsproductstolocalmarkets–Almost10%ofrevenuecomesfromJapan-specificproducts–BrandsincludeGeorgiaCoffee,Sokenbicha,andAquarius–BottlersguidedCokeintodevelopinglocalizedproducts•“Fastfollower”strategy–quicklyfollowedleadofsmallerlocalplayerstoenterteaandcoffeedrinks•Cokemaintainsfullcontroloverproductcontent•LaunchesnewtypesofproductsinJapan(e.g.,cannedsoupdrink)MiddleFarEastEuropeNorthAmericaSales$Billions1993199519971999Performance/backgroundLeversforsuccessOtherMarketinformation•Marketisverycompetitive–morethan7,000softdrinksaresoldinJapanby500manufacturers•Vendingmachinesaccountfor50%ofsoftdrinksalesCompanyinformation•CokeisthemarketleaderinJapan•JapanisaveryprofitablemarketforCoke(potentiallythemostprofitable)•Maintains900,000vendingmachines,2xthenumberofcompetitorsProducts•Coffeedrinks,greentea,blacktea,milk/yogurtdrink•Cokeoffers5brandswith60flavors;75%ofbrandsareJapaneseCompetitors:•Kirin,ItoEn,SuntoryCSTDCS•EricFriberg*,ToddGuild*,MarkLoch,HirokazuYamanachi*14.018.018.919.833322114231533293429221525233814CAGR9%*HasworkedonJapanstudiesNJ-262408.756/001117NbgeoHR13CONTENTS•Companyoverview•Japanmarketentrystrategy•Products•Capabilities•OrganizationNJ-262408.756/001117NbgeoHR14COKE–COMPANYBACKGROUND•Founded1886inAtlanta,USA•Numberofglobalemployees:37,400•CEO:DouglasN.Daft(Australian)•MostseniormanagerforJapan:MaryMinic(President,Japan)•Keyproducts:carbonatedandsportsdrinks,juices,tea,coffee•Marketcap:$151billion(asofNovember13,2000)•Keyindustryfocus:beverages–No.1softdrinkcompanyglobally–50%globalmarketshare–Ownstwooftopthreeglobalbrands(No.1Coca-Colaclassic,No.3DietCoke)–MarketleaderinsoftdrinksinJapan·56%marketshare;competeswith500manufacturessellingover7,000drinks•Globalcompetitors:PepsiCo,CadburySchweppes,Nestle•CompetitorsinJapan:Kirin,ItoEn,Suntory•Owns40%stakeinCoca-ColaEnterprises(world’slargestbottler)NJ-262408.756/001117NbgeoHR15COMPANYEVOLUTIONCokehasbeenaninternationalcompanysincethestartofthecentury,butWWIImadeitatruemultinational.Cokeenteredthebottlingbusinessinthemid-eighties.Recently,thecompanyhasseenstrongprofitsfromfinancialreengineeringinitsbottlingsegment.1800s•Inventedin1886inAtlanta,USA,asaheadache,indigestion,andexhaustionremedy•Majoradvertisingstartedin1