The Coca-Cola Company (KO): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde fascinant du plan stratégique de Coca-Cola, où un empire de boisson mondial transforme une simple boisson gazeuse en un phénomène mondial. Le Business Model Canvas révèle comment cette entreprise emblématique tire parti des partenariats, de l'innovation et de la narration de marque pour étancher la soif de milliards tout en générant 43 milliards de dollars en revenus annuels. Des dépanneurs locaux aux marchés internationaux, le modèle commercial complexe de Coca-Cola montre comment une seule marque peut créer un écosystème mondial complexe et interconnecté qui transcende la simple production de boissons.

The Coca-Cola Company (KO) - Modèle d'entreprise: partenariats clés

Bottling Partners Worldwide

Coca-Cola opère via un réseau de partenariat global complexe:

Partenaire	Région / pays	Part de marché
Coca-Cola Femsa	l'Amérique latine	44% du volume d'embouteillage d'Amérique latine
Coca-Cola Enterprises	Amérique du Nord	37% des opérations d'embouteillage nord-américaines
Swire Beverages	Chine	22% du marché chinois de l'embouteillage

Fournisseurs agricoles

Détails d'approvisionnement des ingrédients clés:

• Fournisseurs de sucre de 30 pays
• Aachat annuel du sucre: 1,9 million de tonnes métriques
• Source de l'eau à partir de 1 200 bassins versants mondiaux

Partenaires de vente au détail et de distribution

Canal de distribution	Volume des ventes annuelles	Portée mondiale
Magasins de détail	38,7 milliards de dollars	200+ pays
Services alimentaires	12,3 milliards de dollars	Plus de 100 pays

Agences de marketing et de publicité

Investissements de partenariat marketing mondial:

• Dépenses de marketing annuelles: 4,2 milliards de dollars
• Partenariats avec 15 grandes agences de publicité mondiale
• Dépenses en marketing numérique: 1,6 milliard de dollars

Partenaires de collaboration de durabilité

Type de partenaire	Nombre de partenariats	Domaine de mise au point
ONG environnementales	24 partenariats mondiaux	Conservation de l'eau
Recyclage des organisations	37 initiatives mondiales	Durabilité de l'emballage

The Coca-Cola Company (KO) - Modèle d'entreprise: activités clés

Développement et innovation des produits de boisson

En 2023, Coca-Cola a investi 1,1 milliard de dollars dans la recherche et le développement. Le portefeuille d'innovation de produit comprend:

• Variantes de sucre zéro
• Boissons végétales
• Options de boissons peu calories

Catégorie d'innovation	Nombre de nouveaux produits	Pénétration du marché
Zero Sugar Drinks	17 nouvelles variantes	8,3% de croissance des parts de marché
Boissons végétales	5 nouveaux produits	Expansion du marché de 4,2%

Marketing mondial et gestion de la marque

Les dépenses de marketing en 2023 ont atteint 4,3 milliards de dollars dans le monde. Les principales stratégies de marketing comprennent:

• Plateformes de publicité numérique
• Engagement des médias sociaux
• Programmes de parrainage

Logistique de la chaîne d'approvisionnement et de la distribution

Coca-Cola exploite 900 plantes d'embouteillage dans le monde. Le réseau de distribution comprend:

Région	Nombre de centres de distribution	Volume de distribution annuel
Amérique du Nord	287	3,2 milliards de cas
Europe	213	2,7 milliards de cas
Asie-Pacifique	346	4,1 milliards de cas

Initiatives de durabilité et de responsabilité sociale

Les investissements en durabilité en 2023 ont totalisé 750 millions de dollars. Les domaines d'intérêt comprennent:

• Réapprovisionnement en eau
• Recyclage des emballages
• Réduction des émissions de carbone

Expansion stratégique du portefeuille de marques

Coca-Cola possède plus de 200 marques de boissons dans 200 pays. La diversification du portefeuille comprend:

Catégorie de marque	Nombre de marques	Contribution des revenus
Boissons gazeuses gazeuses	45	62% des revenus totaux
Boissons non carbonées	155	38% des revenus totaux

The Coca-Cola Company (KO) - Modèle d'entreprise: Ressources clés

Forte reconnaissance mondiale de marque

Valeur de la marque à partir de 2023: 64,4 milliards de dollars

Classement mondial de la marque	5e marque la plus précieuse dans le monde
Portefeuille de marque	Plus de 200 marques de boissons
Présence du marché	200+ pays

Réseau de distribution étendu

Détails de l'infrastructure de distribution:

• Plus de 1,9 million de points de vente au détail dans le monde entier
• Plus de 225 partenaires d'embouteillage dans le monde
• Entretien quotidien d'environ 1,6 milliard de portions de consommateurs

Recette propriétaire et formules de marque

Recette secrète de Coca-Cola	Verrouillé dans SuneTrust Bank Vault à Atlanta
Inscriptions de la marque	Plus de 500 marques mondiales

Infrastructure de fabrication et d'embouteillage

Capacités de production:

• Installations de fabrication totale: 70+ dans le monde
• Capacité de production annuelle: 1,9 milliard de cas d'unité
• Dépenses en capital en 2022: 1,5 milliard de dollars

Capacités de recherche et de développement

Investissement en R&D (2022)	395 millions de dollars
Centres d'innovation	5 centres d'innovation mondiaux
Lancements de nouveaux produits (2022)	30+ nouvelles variantes de boissons

Évaluation totale des ressources clés (2023): 95,6 milliards de dollars estimés

The Coca-Cola Company (KO) - Modèle d'entreprise: propositions de valeur

Portefeuille de boissons rafraîchissant et diversifié

En 2024, Coca-Cola maintient un portefeuille de plus de 200 marques dans plusieurs catégories de boissons. Le volume total des boissons mondiaux a atteint 29,6 milliards de cas d'unité en 2023. Les catégories de produits comprennent:

Catégorie	Nombre de marques	Part de marché mondial
Boissons gazeuses gazeuses	86	43.7%
Eau	52	16.9%
Jus / smoothies	38	12.5%
Boissons énergisantes	24	8.3%

Qualité et goût cohérents sur les marchés

Les mesures mondiales de contrôle de la qualité démontrent la cohérence:

• 99,6% Taux de conformité de la qualité des produits dans le monde
• Plus de 3 900 points de contrôle de qualité par cycle de production
• 1,1 milliard de dollars investis dans une infrastructure d'assurance qualité en 2023

Connexion émotionnelle grâce à la narration de la marque

Métriques d'évaluation de la marque:

Métrique	Valeur 2023
Valeur mondiale de la marque	88,6 milliards de dollars
Engagement des médias sociaux	237 millions de followers
Dépenses marketing annuelles	4,2 milliards de dollars

Offres de produits pratiques et accessibles

Statistiques de distribution et d'accessibilité:

• Présent dans plus de 200 pays
• Plus de 24 millions de points de vente au détail servis
• 1,9 milliard de portions distribuées quotidiennement

Variations des produits de santé et de bien-être

Réflexion du segment des produits axé sur la santé:

Type de produit	Revenus annuels	Taux de croissance
Basses / pas de boissons à sucre	7,3 milliards de dollars	12.4%
Boissons fonctionnelles	3,6 milliards de dollars	8.7%
Boissons végétales	2,1 milliards de dollars	15.2%

The Coca-Cola Company (KO) - Modèle d'entreprise: relations avec les clients

Engagement numérique via les médias sociaux

En 2024, la société Coca-Cola maintient une solide présence sur les réseaux sociaux avec:

• Followers Instagram: 2,6 millions
• Abonnés Twitter: 3,8 millions
• Fonds Facebook: 108 millions
• Abonnés YouTube: 1,5 million

Programmes de fidélité et récompenses des clients

Programme de fidélité	Membres	Valeur annuelle
Programme de récompenses Coca-Cola	15,3 millions	247 millions de dollars
Mes récompenses de coke	12,7 millions	189 millions de dollars

Campagnes de marketing personnalisées

Investissement marketing pour les campagnes personnalisées en 2024: 1,4 milliard de dollars

Engagement communautaire et parrainage

Dépenses de parrainage en 2024:

• Sponsors sportifs: 423 millions de dollars
• Événements communautaires: 187 millions de dollars
• Festivals de musique mondiaux: 92 millions de dollars

Commentaires des clients et amélioration continue

Canal de rétroaction	Interactions annuelles	Taux de réponse
Hotline du service client	2,6 millions	92%
Plateforme de rétroaction en ligne	1,9 million	88%

The Coca-Cola Company (KO) - Modèle d'entreprise: canaux

Magasins de détail et supermarchés

En 2024, Coca-Cola distribue à travers 24,6 millions de points de vente au détail dans le monde. Le canal de supermarché génère environ 45,3 milliards de dollars de ventes de détail annuelles pour la société.

Canal de vente au détail	Volume des ventes annuelles	Portée mondiale
Supermarchés	45,3 milliards de dollars	200+ pays
Épiceries	22,7 milliards de dollars	150+ pays

Magasins de commodité et stations-service

Les dépanneurs représentent 35% des ventes totales de boissons de Coca-Cola, générant 37,8 milliards de dollars par an. Plus de 1,2 million de dépanneurs dans le monde transportent des produits Coca-Cola.

Distributeurs automatiques

Coca-Cola exploite 3,2 millions de distributeurs automatiques à l'échelle mondiale, générant 18,5 milliards de dollars de revenus annuels grâce à ce canal.

Type de distributeur automatique	Unités mondiales	Revenus annuels
Machines à boissons froides	2,1 millions	12,3 milliards de dollars
Machines à fontaine	1,1 million	6,2 milliards de dollars

Plateformes de commerce électronique en ligne

Les ventes numériques représentent 8,6 milliards de dollars, ce qui représente 7,2% du total des revenus de l'entreprise en 2024.

• Ventes directes Amazon: 2,4 milliards de dollars
• Plateforme en ligne Walmart: 1,9 milliard de dollars
• Autres canaux de commerce électronique: 4,3 milliards de dollars

Services alimentaires et hospitalité

Les canaux de restauration et d'accueil génèrent 29,7 milliards de dollars par an, couvrant plus de 500 000 emplacements de restauration dans le monde.

Type de sortie	Ventes annuelles	Emplacements mondiaux
Restaurants	18,3 milliards de dollars	350,000
Hôtels / hospitalité	11,4 milliards de dollars	150,000

The Coca-Cola Company (KO) - Modèle d'entreprise: segments de clientèle

Consommateurs mondiaux dans les groupes d'âge

Coca-Cola dessert 1,9 milliard de portions par jour dans 200 pays. Répartition du segment de l'âge:

Groupe d'âge	Pénétration du marché (%)
Enfants (0-12)	22%
Adolescents (13-19)	28%
Jeunes adultes (20-35)	35%
Adultes (36-55)	12%
Aînés (56+)	3%

Personnes soucieuses de la santé

Portefeuille de produits pour les consommateurs soucieux de la santé:

• Coca-Cola zéro sucre: 18% de part de marché
• SmartWater: 1,2 milliard de dollars de revenus annuels
• Thé honnête: 5% du marché des boissons biologiques
• Vitaminwater: 750 millions de dollars de ventes annuelles

Jeunes adultes et milléniaux

Demographie marketing ciblée:

Segment	Taux de consommation
Milléniaux (25-40)	42% de la consommation totale de boissons
Gen Z (18-24)	31% de la consommation totale de boissons

Différents marchés culturels et régionaux

Distribution du marché régional:

Région	Part de marché (%)	Revenus annuels (milliards)
Amérique du Nord	37%	$22.5
Europe	25%	$15.3
Asie-Pacifique	20%	$12.7
l'Amérique latine	12%	$7.6
Afrique	6%	$3.9

Horizons socioéconomiques divers

Analyse du segment des revenus:

Niveau de revenu	Pénétration du marché (%)
À faible revenu	25%
Revenu moyen	55%
Revenu élevé	20%

The Coca-Cola Company (KO) - Modèle d'entreprise: Structure des coûts

Achat de matières premières

En 2023, les coûts de matières premières de Coca-Cola ont totalisé 12,4 milliards de dollars, avec des composants clés, notamment:

Matière première	Coût annuel
Sucre	3,6 milliards de dollars
Matériaux d'emballage	4,2 milliards de dollars
Concentrer les ingrédients	2,8 milliards de dollars

Frais de fabrication et de production

Les coûts de fabrication totaux en 2023 étaient de 8,7 milliards de dollars, en panne comme suit:

• Facilité de production Coûts d'exploitation: 3,9 milliards de dollars
• Entretien de l'équipement: 1,5 milliard de dollars
• Énergie et services publics: 1,2 milliard de dollars
• Coûts de main-d'œuvre: 2,1 milliards de dollars

Investissements marketing et publicitaire

Les dépenses de marketing de Coca-Cola en 2023 ont atteint 4,3 milliards de dollars, alloué entre:

Canal de marketing	Dépenses
Publicité numérique	1,2 milliard de dollars
Médias traditionnels	1,8 milliard de dollars
Parrainage	750 millions de dollars
Marketing d'événement	550 millions de dollars

Coûts de distribution et de logistique

Les dépenses de distribution pour 2023 ont totalisé 6,5 milliards de dollars, notamment:

• Transport: 3,2 milliards de dollars
• Opérations de l'entrepôt: 1,7 milliard de dollars
• Entretien de la flotte: 850 millions de dollars
• Gestion des stocks: 750 millions de dollars

Dépenses de recherche et développement

Les investissements en R&D en 2023 s'élevaient à 1,1 milliard de dollars, axés sur:

• Développement de nouveaux produits: 600 millions de dollars
• Innovation des boissons: 350 millions de dollars
• Technologies de durabilité: 150 millions de dollars

The Coca-Cola Company (KO) - Modèle d'entreprise: Strots de revenus

Ventes de produits de boisson

Au cours de l'exercice 2023, la société Coca-Cola a déclaré des revenus nets de 43,3 milliards de dollars. La répartition des ventes de produits de l'entreprise comprend:

Catégorie de produits	Contribution des revenus
Boissons gazeuses étincelantes	24,5 milliards de dollars
Des boissons encore	15,2 milliards de dollars
Eau, eau améliorée et boissons pour sportifs	3,6 milliards de dollars

Licence et partenariats de marque

Coca-Cola génère des revenus importants grâce à des accords de licence de marque stratégique. Les sources de revenus clés des licences comprennent:

• Licence de marchandise: estimé 250 à 300 millions de dollars par an
• Accords de partenariat de marque avec les détaillants mondiaux
• Licence de propriété intellectuelle aux partenaires de mise en bouteille

Expansion du marché international

Distribution des revenus géographiques pour 2023:

Région	Contribution des revenus
Amérique du Nord	21,6 milliards de dollars
Europe, Moyen-Orient et Afrique	8,7 milliards de dollars
l'Amérique latine	6,2 milliards de dollars
Asie-Pacifique	6,8 milliards de dollars

Portfolio de produits diversifié

Revenus provenant de divers segments de boissons:

• Boissons gazeuses: 56,6% des revenus totaux
• Boissons non carbonées: 35,1% des revenus totaux
• Autres catégories de boissons: 8,3% des revenus totaux

Marchandisage et extensions de marque

Les sources de revenus supplémentaires comprennent:

• Ventes de marchandises de marque: environ 150 millions de dollars par an
• Monétisation de la plate-forme numérique
• Lignes de produit promotionnelles et co-marquées

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.