Read the case study and answer the questions:
The Coca-Cola Company is an American multinational beverage company, with its headquarters in Atlanta, Georgia. The first a company that conducted its operation in the soft
drink industry was Coca-Cola. It is the world's largest non-alcoholic beverage company serving more than 1.8 billion consumers daily in more than 200 countries. It has a portfolio of more than 3,500 (more than 800 no or low calorie) products.
However, the company is best known for its flagship product Coca-Cola which was originally intended to be a patented medicine was invented in 1886 by pharmacist John Smith Pemberton in Columbus, Georgia. The Coca-Cola products can be termed as normal goods and in August, 2019 Coca-Cola has introduced the new product into the market, that is, zero sugar where the demand has increased for the product in the market.
According to the council of Australian Food Technology association and Institute of Food Science and Technology, the Australian nonalcoholic beverages industry has been growing steadily, with 2.3 percent increase in overall production in the year 2000 which amounts to 2.25 billion litres. However, in the recent years, sales of customary carbonated soft drinks have dropped as more and more customers become health conscious and move away from high calorie sugary drinks. Soft Carbonated drinks and other alcohol free beverages manufacturers have also sensed the effects of intensifying competition from private-label soft drink makers. Nevertheless, sales of greater value energy and sports drinks have driven profit generation in the industry.