Coca-Cola has been fighting for market share all over Europe.41 Moreover,
it has been in protracted negotiations with several European governmentsto gain approval to buy small, local soft drink companies. As McClean noted,
“Coke has been America’s ambassador in many emerging markets and already
gets 80% of its profits overseas (p. 313).”42 As world markets have declined in
the late 1990s, so too has Coca-Cola’s ability to maintain its international
expansion.
Coca-Cola’s worldwide business includes bottling and distribution operations.
Most of the international operations are owned and operated by local,
independent business people. This means that the local economy—whether Tokyo
or Toronto—benefits from local ownership and control. Local ownership is designed
to help marketing and public relations efforts to create strong relationships
with local media and publics. Coke has five geographic groups, but the greater
Europe group, which stretches from Greenland to Russia’s Far East, includes some
of the most established markets in Western Europe. The greater Europe market
also includes the rapidly growing nations of Eastern and Central Europe. The
Coca-Cola Company stock is publicly traded on the New York Stock Exchange as
well as on the German and Swiss exchanges.