American multinational beverage corporation, Coca-Cola has tossed a global media and creative review of its accounts. The company saw its revenue shrink by about nine percent in the third quarter of 2020 and spends about 4 billion U.S dollars on media universally. According to mass media reports, the review will include creative, production management, shopper, and experiential marketing services as a way of reworking and educating the efficiency of their marketing investments.
It was in May 1886, Dr. John Pemberton vended the primary glass of Coca-Cola at Jacobs’ Pharmacy in downtown Atlanta. Eventhough in its primary year they Serve about 9 drinks per day, Coca-Cola was a new treat of drink for the refreshment purpose among the devotees. Serving nine drinks per day in its first year, Coca-Cola was new refreshment in its opening. Since its birth at a soda fountain downtown, Coca-Cola has been a catalytic agent for social collaboration and stimulated innovation.
The marketing and procurement departments will review the accounts from the first quarter of next year and the company plans to have a consolidated roster of agencies in place across both media and creative by the third quarter of 2021. The advisor on creative review is the PriceWaterhouseCoopers, whereas MediaSense is directing on media. The creative agencies contributing to the review have not been named. Coca-Cola has decided to undergo a complete redesign of its media and creative agency models to align the strategic, operational, and commercial needs of their new-fangled, networked organization. This will demand a full review of their media and creative planning and buying practices, as well as their media and creative agency appointments and commercial relationships all around the world.