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Coca-Cola requires a deep and meaningful shared-value approach to appeal to consumers and stakeholders who increasingly judge companies and brands as much on the content of their character as the quality of the products and services they produce and market, according to a Cannes Lions presentation by Joseph Tripodi, executive vice president and chief marketing and commercial officer for The Coca-Cola Co., Atlanta.
In the presentation, Tripodi explained that he sees the company embarking on a journey to shared value that involves engaging in every aspect of the market, building cultural leadership and creating a network advantage as consumers and stakeholders move beyond brand loyalists and become brand advocates.
He also outlined some of the collaborative partnerships the company has built, which are not only creating shared value, but have fueled an explosion of new creative energy at the company, Tripodi said during the presentation.
In addition, Tripodi mentioned that shifts in demographics and attitude, new ways to communicate, new transaction technology and global conversations have created a marketplace unlike anything previously seen. Communication advancements are creating a revolutionary culture across the world that is “highly informed, empowered and instantly connected to sympathetic friends and allies everywhere and all the time,” Tripodi said.
“It creates a place where mob rules,” he continued in an excerpt shared by The Coca-Cola Co. “It is a marketplace where consumers have the tools to topple governments — where street art unites tens of thousands and inspires them to ‘Dance with Revolution.’”
Tripodi mentioned the power of the people in the 2008 U.S. presidential election as well as the Occupy movements last year.
“All of this has huge implications for our brands and companies and the way we engage with people because even in a revolution, our brands are still part of the cultural landscape,” he said. “As advertisers and marketers, what is our role in a world where consumers have this type of influence and power? A world where cultural revolution is alive … and the mob is actually the collective voice of wired, networked individuals.”