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Founded in 1886, the Coca-Cola Co (NYSE:KO) is a multinational beverage giant and one of the most easily recognizable brands globally. The company operates in more than 200 countries and owns or licenses over 500 nonalcoholic beverage brands, including Coca-Cola, Diet Coke, Coca-Cola Zero, Minute Maid Juices and Dasani.

Some investors might worry about this company because of the decreasing global demand for sodas. According to a GlobalData report, traditional soft drinks declined 4.3% worldwide in 2020, and while growth in emerging markets may still be found, developed markets such as the U.S. are becoming more health-conscious, to the detriment of soda sales. According to a Harvard study, the percentage of Americans bingeing on soft drinks frequently declined significantly from 13% in 2013 to 9% in 2016. Some countries are also introducing sugar taxes, which are taking their toll on sugar-laden soft drinks.

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To combat this decline in soda popularity, Coca-Cola has diversified its product portfolio into other categories such as sparkling soft drinks, water, sports drinks and ready-to-drink coffee and tea beverages, which helped it avoid the worst of the pain. The strength of the Coca-Cola brand has also done well despite headwinds such as inflation and logistical issues. This resilience combined with decent returns through dividends and share buybacks makes me positive on Coca-Cola overall.

Coca-Cola flexes its financial muscle in a difficult market

Coca-Cola posted revenue of $11.06 billion in the third quarter of 2022, which showed an increase of 10.17% from $10.04 billion in the year-ago quarter. The earnings per share reflected an increase of 14% in the third quarter of 2022, rising to $0.65 from $0.57 in the prior-year quarter. The currency exchange rates during the quarter negatively affected the beverage giant, which impacted the bottom line.

The company had single-digit returns from the developed countries, while lower single-digit results came from developing countries. China, India and Brazil drove higher revenues, as did the United States, Mexico and Western Europe. Coca-Cola has been working to make its beverages more relevant and adjust to consumer trends to spur future growth. The company has also been prioritizing margins over volume to be more profit-oriented.

Coca-Cola has long been one of the world's most recognizable brands but has faced several challenges in recent years. For example, in Russia, Coca-Cola's decision to halt operations in the wake of the country's invasion of Ukraine will likely have financial repercussions in the years to come. Russia and Ukraine operations previously accounted for around 1% of its total consolidated net operating revenue and 2% of operating profits.

Due to pandemic-related interruptions in the world's supply chains, costs for everything from aluminum cans to labor and shipping have increased over the past year, prompting businesses in the packaged food industry to raise prices in response. The company has managed the situation reasonably well, aided by plants in just about all the regions in the world.

Global demand for soda is decreasing, but Coca-Cola has continued to diversify

Coca-Cola is one of the most iconic brands in the world, and for a good reason. The company has been around for over a century, and people of all ages enjoy its products. However, Coca-Cola is not immune to changing market trends. In recent years, there has been a growing awareness of the health risks associated with soda, and as a result, many consumers are seeking alternative beverage options. New research from food broker Presence reveals that health-conscious consumers will pay extra if a product positively impacts their health.

This has significantly impacted the soda industry, and Coca-Cola has had to adapt to stay relevant. The company has diversified its offerings and now has several bottled water brands, energy drinks, juices, sports drinks, teas and vitamin water. These changes allow the company to survive and thrive even if the demand in one central area slows down.

A stable income play

Coca-Cola has maintained a long tradition of paying dividends, delivering a robust 2.9% dividend yield as of this writing. In total, the company has hiked payouts for 60 years consecutively, making it a Dividend King. The business anticipates that share repurchases will start again in 2022, with net share repurchases totaling about $500 million. For investors looking for a stable income play, I believe Coca-Cola is a good bet. The share price does not fluctuate much, and returns are pretty reasonable even if not particularly high.

Coca-Cola has historically been a reliable investment, and shareholders have always been able to count on the company to deliver consistent dividend payments. While other companies have cut or suspended their dividend payments in recent years, Coca-Cola has continued to pay out dividends without fail. This commitment to shareholder value is one of the things that makes Coca-Cola such a popular stock.

Takeaway

Coca-Cola is one of the most well-known brands in the world, and it has a long history of success. In recent years, Coca-Cola has faced some challenges but has continued to perform well financially. Despite inflation and other factors, Coca-Cola has all of its ducks in a row and is doing well during tough times. The company has a strong portfolio of products, strong brand recognition and a loyal customer base. In addition, Coca-Cola has a diversified business model that includes beverages to keep up with market trends. As a result, I believe Coca-Cola is well-positioned to continue its success in the years to come.
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The Coca-Cola Company is an American multinational corporation that manufactures and markets non-alcoholic beverage concentrates and syrups, which are sold as finished products globally. Coca-Cola products are known for being refreshing and delicious, and they have a wide variety of options available. The company uses porter’s five forces model and SWOT analysis concept to stabilize its growth and beat its competitors in the market. By having reasonable pricing and stable vendors, the company becomes efficient in its operational management. The Coca-Cola company has been able to diversify its product offerings over the years, which has helped it stay competitive in the soft drink market. Product diversification is defined as the act of expanding a company’s product line to include new and related products. Producing various products is an international business strategy of capturing the entire global market since it creates space for clients from different cultures to choose what suits them the most. SWOT analysis and Porter’s five forces aid Coca-Cola in improving its operations and adopting product diversification which helps the company to grow internationally.

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Porter’s five forces help Coca-Cola company gain a competitive edge by having reliable suppliers, setting realistic prices, and thus dominating the market through cost leadership strategies. On the other hand, SWOT analysis assists the Coca-Cola company in maximizing its strengths while minimizing its weaknesses and similarly knowing its areas for adjustment, therefore, promoting the business growth. The Coca-Cola company has been able to build a competitive advantage through its product diversification (Sharma et al., 2019). By expanding its portfolio to include juices, water, and other sodas, the company is better able to meet the needs of consumers and differentiate its products from those of its competitors. This expanded product line similarly allows the company to target different market segments, which helps it reach more consumers and grow its market share.

Porter’s Five Forces
Supplier power is the ability of a supplier to raise prices or the availability of its products or services. By Coca-Cola expanding its product range and partnering with a variety of suppliers, the company has been able to increase its bargaining power and stay ahead of the competition. For example, Coca-Cola does not only produce soft drinks; it also offers juices, bottled water, tea, sports drinks, and more. This offers it a wider appeal and allows the organization to tap into different markets. And by partnering with numerous suppliers, it is able to get the best terms and prices for the raw materials. It gives the brand a cost advantage over companies that are less diversified or have weaker supplier relationships (Sharma et al., 2019). Similarly, having many suppliers means a stable source of raw materials, thus no stock and lost sales, which translates into more sales and perfect customer service.

Buyer power is the ability of buyers to force prices down or demand better terms. It is one of the five forces that control a company’s competitiveness. This force is determined by the number of buyers a company has, the importance of those buyers, and how easy it is to switch to other suppliers. Coca-Cola has a strong competitive advantage in product diversification; the company has many different brands and products that cater to different markets (Sharma et al., 2019). This gives them many buyers who are both important and difficult to replace. Additionally, it is easy for customers to switch to other Coca-Cola products if they are not satisfied with one brand. This makes it difficult for competitors to gain market share from Coca-Cola.

Substitute products are products that can be used in place of another product. The availability of substitute products affects a company’s competitiveness by impacting the power of buyers and the threat of new entrants. Product diversification can give companies a competitive advantage for a number of reasons (Sharma et al., 2019). The most important advantage is that it helps protect a company from the competition by creating substitutes. For example, if Coca-Cola expands into other types of beverages such as energy drinks, tea, or bottled water, it makes it more difficult for competitors like Pepsi to enter the market for carbonated soft drinks. This is because Pepsi would then have to compete with Coca-Cola on multiple fronts rather than just one. Another way in which product diversification gives Coca-Cola company a competitive edge is by enabling the company to target new markets.

Similarly, Coca-Cola has been able to maintain its competitive edge by diversifying its product line. This not only allows them to appeal to a wider range of customers but it similarly makes it difficult for new entrants to come into the market and steal market share. By having a variety of products available, Coke threatens potential new entrants with the prospect of being shut out of certain segments of the market (Sharma et al., 2019). This is known as the threat of new entrants, and it is one of the five forces that Porter identified as key drivers of competition. Conversely, offering a wide range of products means that there are products and services for all customers, and no one competitor can really dominate the market by focusing on a single type of drink. Additionally, this helps to protect Coca-Cola from any potential threats of rivalry, as it is very difficult for another company to replicate the vast array of drinks that Coke has on offer.

SWOT Analysis
Concerning strengths, Coca-Cola’s product diversification strategy has been successful in allowing the company to continue to grow and prosper. The company has been able to expand its product offerings beyond its core soda business by acquiring other businesses and developing new products. This has allowed Coca-Cola to tap into new markets and grow its customer base. The company’s products now include coffee, tea, juices, water, and sports drinks. This diversity of products gives Coca-Cola a competitive advantage as it allows the company to meet the needs of a wide range of customers (Sharma et al., 2019). Additionally, this strategy helps to insulate Coca-Cola from economic downturns as demand for one type of product may decrease while demand for another type of product increases. Under SWOT analysis, product diversification can have a weakness for Coca-Cola company because it can lead to a decline in focus on the company’s core products and a loss of market share in those products. Additionally, product diversification can lead to increased costs and complexity, which can negatively affect the company.

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Under opportunities, the Coca-Cola Company has many success chances when it comes to product diversification. The company may want to consider expanding into new markets; for example, it could create a line of organic beverages and research areas they have not ventured into to increase their sales. Venturing into new regions will be easier because Coca-Cola is a popular brand; thus, people will accept it easily. On threats, maintaining a product diversification strategy can be expensive for a company, as it requires significant research and development investments to ensure that each product line is profitable and successful. If Coca-Cola company fails to execute this strategy effectively, it can experience losses in market share and revenue.

One Business Issue
Product diversification is always a difficult decision for companies; Coca-Cola is no exception. Diversifying products can mean big rewards but also big risks. One risk is that the company may lose focus on its core product and dilute its brand identity. Another is that Coca-Cola could enter into a market where it has little or no control and face strong competition from entrenched players (Sharma et al., 2019). As with any business decision, Coca-Cola must carefully consider the risks and rewards of product diversification before taking any action.

Main Product Dilution Strategic Implications and Its Impact on Stakeholders
There are several potential reasons why the dilution of the company’s main product may have strategic implications for Coca-Cola. First, it may signal to investors that the company is not confident in its ability to compete with one major product in the market. This could lead to a loss of confidence in the company and result in a decreased investment. Additionally, if Coca-Cola is seen as unfocused by being identified by the main product, which would yield huge profits, it may be less attractive to potential partners or collaborators. This could limit the company’s ability to enter into new markets or programs that could be beneficial (Sharma et al., 2019). Finally, losing focus on one key product or service could simply result in an overall decline in performance as the company stretches its resources too thin. Any of these outcomes would likely have negative implications for Coca-Cola’s business.

It is important for companies to maintain focus on a specific product in order to be successful. Diversification can be a strategy to achieve growth, but it can also lead to problems if a company loses focus on its core products and operations. One of the negative impacts of focusing on product diversification is that a company can spread itself too thin with little profits than when the company majored in a specific product. This can lead to decreased sales and visibility for the company’s core products and ultimately lead to less profitability, thus demotivating the stakeholders (Sharma et al., 2019). In addition, when a company diversifies its product line, it often needs to invest more heavily in marketing and advertising in order to generate awareness for the new products. This can make the product development and pricing too expensive with low profits, thus discouraging the stakeholders. On the other hand, when the company focuses on one main product, the capital required will be little, making it feasible for the stakeholder to contribute. They participate with the aim that there will be high sales since the company is popular on that one product line.

In conclusion, Coca-Cola’s product diversification efforts have been underway for quite some time now, and the company has had great success in expanding its product portfolio. Coca-Cola now offers a wide variety of beverages, including sodas, juices, teas, and sports drinks. The organization has similarly extended into new regions with its bottled water and energy drink products. Coca-Cola company has been working hard to remain relevant in the market by having many suppliers and producing excellent products that the competitors are not able to deliver. One business issue relating to product diversification is that the company can lose focus on its main or majorly known commodity or service. The Coca-Cola company opted for product diversification to offset their main product’s declining sales. They did this by introducing new products into different markets in the hopes of reaching new consumers.

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 Profitability of Coca-Cola “The gross profit margin for the nonalcoholic beverage industry was 54.87% in 2019.” [5] Based on Table 3 data, in 2019, the gross profit ratio is 0.61 for Coca-Cola, which is greater than the industry data. This  means  Coca-Cola had a more significant production  management  system, leading to a lower revenue cost. Also said that the average net margin is only 15.58% [5]. However, Table 3 shows 
BCP Business & Management FIBA 2023 Volume 44 (2023)   899 that Coca-Cola has a net margin of around 24%. Probably because Coca-Cola generated fewer general and administrative expenses, operating expenses, and so on compared to other competitors in  the industry. As a result, the profitability of Coca-Cola is relatively good in the industry.  Table 3. Profitability analysis [3] year 2019 2020 2021 total revenue 37,266,000 33,014,000 38,655,000 cost of revenue 14,619,000 13,433,000 15,357,000 gross profit 22,647,000 19,581,000 23,298,000 gross profit margin 0.61 0.59 0.6 net income 8,920,000 7,747,000 9,771,000 net income margin 0.24 0.23 0.25 EBIT 11,732,000 11,186,000 14,022,000 Retained Earnings 65,855,000 66,555,000 69,094,000 Dividend 6,845,000 7,047,000 7,252,000  Table 3 indicates that the EBIT kept growing from 2019 to 2021. Even in 2020, the economic recession  period,  the  operating  profit  still  increased.  This  means  the  company  has  a  good manufacturing, selling & distribution system and has plenty of loyal customers. Apart from that, the retained  earnings  and dividends  were  also stimulated  during the  period. The  historical  dividend increment may make the investor more optimistic about  the  company’s future, and the share price will also increase.  Retained  earnings  can be  used  to  repay some outstanding  loans  and make an acquisition with another company, which further helps the company grow. In conclusion, Coca-Cola has considerable operating profit growth and retained earnings growth. The company’s profitability should further increase in the future.  Table 4. Short-term liquidity of Coca-Cola year 2019 2020 2021 current asset 20,411,000 19,240,000 22,545,000 current liability 26,973,000 14,601,000 19,950,000 liquidity ratio 0.76 1.32 1.13  Table 4 shows that the current liability is 2697300 and 1460100 in 2019 and 2020, respectively. The current debt decreased by 46% from 2019 to 2020 [6]. Coca-Cola expanded its manufacturing infrastructure and access acquisition to the company like Bambi in Serbia, Lurisia in Italy, and so on. Table 2 shows that the cash investment in PPE and Business purchase in 2019 is far more significant than in 2020. The expansion activity made Coca-Cola issue many debts. The beverage industry is currently facing a downturn. If Coca-Cola does not cut its debt, the future operating cash flow will be challenging to pay back the debts. As a result, Coca-Cola cut a large proportion of its current debt in 2020 [7].  Table 5. Long-term liquidity of Coca-Cola year 2019 2020 2021 non-current asset 65,970,000 68,056,000 71,809,000 non-current liability 38,310,000 51,411,000 49,544,000 non-current ratio 1.72 1.32 1.45  Table 5, the non-current ratio shows that Coca-Cola could be solvent in their long-term debt. As a result, debt and equity holders should not worry about the company’s financial health. 
BCP Business & Management FIBA 2023 Volume 44 (2023)   900 4. Market Analysis of Cocca-cola 4.1 Market share of Coca-Cola Coca-Cola's main competitors are Pepsi and Red Bull, because these two companies also sell their products worldwide and own a huge market share. Coca-Cola owns 20.1% of the global beverage market share in 2020, while Pepsi owns 10%: The sum market share of Coca-Cola and Pepsi is more significant than the total market share of the next top 78 beverage companies in the world, given that the ranking is based on the market share [2]. 4.1.1 The non-alcoholic beverage Market Analysis   Figure 1. The beverage industry growing trend in North America [8]  Fig.1 indicates  that  before the  global pandemic,  the non-alcoholic  industry in  North America increased even though the increment was not too noticeable. However, in 2020, Covid-19 started, and the beverage market shrunk dramatically. This is because the economic recession happened in 2020. As Fig.2 shows, the US30 Market index moves almost in the same direction as the beverage market. It is certain that when the economy starts to revive, the beverage market will multiply as well, mainly because it is necessary for people's daily lives.   Figure 2. US30 Market Index[9] 
BCP Business & Management FIBA 2023 Volume 44 (2023)   901 4.1.2 The competitor Profitability Analysis Pepsi should be the primary competitor of Coca-Cola because Pepsi also operates and sells its product all over the world with good famous.   Table 6. Pepsi’s gross ratio margin [3] year 2019 2020 2021 revenue 67,161,000 70,732,000 79,474,000 gross profit 37,029,000 38,575,000 42,399,000 gross margin 0.55 0.55 0.53  Table 7. Pepsi’s net margin ratio [3] year 2019 2020 2021 revenue 67,161,000 70,372,000 79,474,000 net profit 7,314,000 7,120,000 7,618,000 gross margin 10.89% 10.12% 9.59%  The PE ratio and EPS of Pepsi are 23.98 and 6.69, respectively. So, the fair stock price should be 23.98*6.69=160.43$. However, the market price is 175.24$, which is overpriced, and the premium ratio is about 9.23%. As an investor, a put option with a strike price of 175.24 should be purchased because, reasonably, the share price will fall to 160.43, and when the investors use the put option to sell it, they will make a profit. The PE ratio and EPS of Coca-Cola are 24.21 and 2.28, respectively, so the fair price should be 51.2$ and the market price is 61.43$, which is also overpriced. The premium ratio is about 20%. When comparing the gross margin and net margin between Pepsi and Coca-Cola (Table 3, Table 6, and Table 7), it was evident that Coca-Cola has a greater ratio. However, Coca-Cola also has a more significant stock price premium than Pepsi. So, the decision should base on the investors' views. 4.2 Analysis Coca-Cola offers a wide range of products and services, including Diet Coke, Coke Zero, Cie, Dasani, DeValle, Fanta, Fair life, Georgia, Gold Peak Tea, Honest Tea, Mello Yello, Minute Maid, Odwalla, Powerade, Simply Beverages, Glaceau Smartwater, Sprite, Suge, Glaceau vitamin water and Zico. However, it faces competition from other beverage companies such as Pepsi, Dr. Pepper Snapple, Mountain Dew, Gatorade, Nestle, Redbull,  Parle,  Unilever,  Heineken,  and  Diageo.  The following is a specific analysis of the Coca-Cola Company. 4.2.1 Coca-Cola Strengths Coca-Cola has strong brand recognition and reputation, as well as a strong brand image, and is one of the most recognizable brands in the world. It has a wide range of products. This includes soft drinks, juices,  water,  and  sports  drinks, catering  to  different consumer  preferences.  Strong distribution network.  Coca-Cola  has  a  well-established  distribution  network  around  the  world,  giving  it  a competitive advantage. Economies of scale. Coca-Cola has a large scale of operations, which enables it to take advantage of economies of scale and reduce costs [10]. 4.2.2 Coca-Cola Weaknesses Dependence on sugary beverages. Coca-Cola relies heavily on the sales of sugary beverages, and this is something that Coca-Cola has suffered criticism for due to the growing public interest in health and wellness. Mature market saturation. The company has limited room for growth in mature markets, while demand for sugary drinks is currently declining in the market. Competition from healthier alternatives. Coca-Cola faces competition from healthier alternatives such as tea, coffee, sugar-free drinks, and non-alcoholic beverages. 
BCP Business & Management FIBA 2023 Volume 44 (2023)   902 4.2.3 Coca-Cola Opportunities Expansion in emerging markets. There  are  significant  opportunities for Coca-Cola  to  grow  in emerging markets where the demand for soft drinks is growing. In sugar-free and sugar-substituted drinks, for example, Coca-Cola invested early and costly research and took a foothold from 2018 onwards. At one point, sales of its product Diet-coke surpassed those of its classic original Cocacola- original. Investment in research and development. The company has the opportunity to  invest  in research and development to stay ahead of evolving consumer preferences and trends. Diversify into new product categories. Coca-Cola has the opportunity to diversify into new product categories, such as functional drinks and snacks, to increase its revenue streams. 4.2.4 Coca-Cola Threats Competition from  other beverage companies. The  Coca-Cola  Company faces stiff competition from other large beverage companies such as PepsiCo and Dr. Pepper Snapple Group. Government regulations. The company faces increasing regulation of sugary drinks, which could harm its sales. In particular, mandatory requirements in terms of sugar taxation make it necessary for them to comply. It  was  changing  consumer  preferences.  Coca-Cola is  facing  changing  consumer  preferences  for healthier options, which could harm sales of its sugary beverages [10]. Overall, The Coca-Cola Company has a strong brand image and a wide range of products, which provides it with some advantages. However, the company faces challenges from the competition and changing consumer  preferences, which  pose a  degree  of threat  to its  business. To  address these challenges,  Coca-Cola  should focus  on  expansion  in  emerging  markets,  invest in  research  and development, and diversify into new product categories. 5. Discussion The current study of this paper can be regarded as an initial valuation of the Coca-Cola Corporation. The paper mainly estimates the company's worth of Coca-Cola from three perspectives: Balance sheet, Marketing strategies, and SWOT analysis. The result of this paper can be used to assess the overall financial  performance  and  future  forecasting  of  Coca-Cola  Corporation,  along  with  a  future outstanding investor's decision-making upon the company. Since  71%  of Coca-Cola  shares are  held by large  American financial  institutions, Coca-Cola Corporation  has  good  company  credibility,  which  implies  that  the  firm  takes  high  investor expectations in the market. Our study gives a good outcome of Coca-Cola's cash holding strategy. However, due to the economic recession caused by the outraged pandemic, Coca-Cola has to cut its investment cost to retain a steady cash flow. The operating cash flow conducted by Coca-Cola is also reduced in 2020. Even though the ending cash position is increased, further investigation is required to conclude the efficiency of Coca-Cola's cash holding strategies because a significant rising trend is observed in the industry since 2021. Our study suggested the profitability of Coca-Cola is relatively good on a three-year basis. The gross profit margin from  2019  to 2021 is  steady  at 60%, while  the  company's  net profit margin stabilizes at 23%. The outcome indicates that Coca-Cola has a good business model and abilities to keep on a good pace of maintaining the rising trend in its profit. Upon the data given in tables 4 & 5, our study indicates that Coca-Cola has good debt solvency. Thus, investors could expect good financial health from Coca-Cola Corporation. Results come from the year 2019 to 2021 is an excellent example to estimate a company's ability since the worldwide pandemic has had a great impact on the global economy; under the such an extreme situation, a steady output of Coca-Cola's balance between its assets and liabilities implies that the company would have relatively good financial performance when facing against extreme environment such as the economic recession. However, for long-term investment via Coca-Cola Corporation, it is better to cast debt solvency with a wider time range so that the company is not overvalued. 
BCP Business & Management FIBA 2023 Volume 44 (2023)   903 Based on our SWOT analysis, Coca-Cola has a great brand image in the beverage industry, which brings the company advantage when competing with its main competitor Pepsi. The strong brand image and customer loyalty guarantee Coca-Cola a steady income over time. Nevertheless, the main risk of Coca-Cola Company is the lack of product diversity [1] and environmental issue. Lack of product diversity brings fierce price competition among soft drink companies. A good way out could be expanding Coca-Cola's product diversity. A good example of expanding product diversity is the release of diet coke. Diet coke has had an outstanding marketing volume since the year 2020. Figure 3 below shows the sales volume rank and the product's market value. It is evident that diet coke has taken an important place in the soft drink market and has the potential to be a second dominant product in the future.   Figure 3. Sales Volume Rank along with the Product's Market Value [11] (Photo credit: https://www.morningadvertiser.co.uk/Article/2021/12/02/What-is-the-best-selling-soft-drink-of-2021) 6. Conclusion According to the financial analysis based on Coca-Cola's cash holding strategy and profitability analysis, Coca-Cola has good performance facing the global economic recession. By deducting investment cash activities, Coca-Cola successfully increased its ending cash position and improved  its total revenue by 17.1% by  2021.  Increasing is also observed concerning  EBIT, retained earnings, and dividends. These lively performances during the epidemic period show that Coca-Cola  can  keep its  profitability while  facing disadvantages  brought about  by the  economic recession. Based on short-term liquidity (Table 4) and long-term liquidity (Table 5), Coca-Cola has been holding  an  efficient strategy  during 2019-2021.  The manufacturing  infrastructure expansion  and acquisition accessed by Coca-Cola improve the corporation's debt solvency both in the short term and long term. Therefore, as an initial valuation outcome, the corporation generates good performances upon their financial health. 
BCP Business & Management FIBA 2023 Volume 44 (2023)   904 Overall, our study briefly introduces Coca-Cola's financial performance; even though it has been affected by the epidemic since 2020, Coca-Cola has a steady good performance in its financial and non-financial  behavior.  Through SWOT  analysis, opportunities  exist,  and  further rising  trend is expected along with the corporations' current financial performance. 
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Article 4:
Global Market Share
48.6% - 2021
45% - 2006