Coca-Cola has partnered with the International Cricket Council(ICC) to be the exclusive non-alcoholic beverage partner of the Men’s Cricket World Cup 2023.
Due to the festive season coinciding with the Cricket World Cup in India, the company has made highest-ever investment during the second half of the calendar year 2023. Arnab Roy, Vice President of Marketing for Coca-Cola In India and South-West Asia, made this announcement. The announcement was made during a virtual media roundtable held on Friday.
“This is…one of the largest investments we’ve ever done in Q3 and Q4 combined in the history of our company in India”
COCA-COLA HIGHEST-EVER IN H2 2023
Furthermore, Coca-Cola has increased its advertising by 5-7% in the December quarter. While Thums Up has taken the lead in Company’s partnership with ICC, the Coca-Cola brand is focusing on festive season. Additionally, the company is participating in brand activation events during festivals in neighboring nations. Nepal, Sri Lanka, and Bangladesh are among the neighboring countries.
Moreover, according to Roy, it was essential for the company to continue investing in its brands. Investing in its brand and business will help the company sustain its momentum. He further added that Coca-Cola works on long-term planning cycles.
Coca-Cola, which had a “challenging summer” owing to unseasonal rains, remains bullish on long-term metrics. “Therefore, it was very important for us to continue investing in the business, in our brands, so that we don’t lose the momentum”.
As per Roy, the Coca-Cola brand is still in demand in both urban and rural India. He further added, We don’t see consumer demand for most of our top brands slowing down at all”. Talking of the Cricket World Cup, Roy further said,
We’re very hopeful with the initial numbers that we’re seeing post our investments have gone in, and the expectation is that this will also spur some very good short term demand.”
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