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Coca-Cola Co.

Coca-Cola Co., Atlanta, will increase its prices in an effort to boost its bottom line. Prices have increased 6 to 7 percent over the last few months, ending the flat pricing environment that had existed for most of the decade. Coke executives said they expect to raise prices 2 to 3 percent per year over the next three years to keep pace with inflation. Analysts said Coca-Cola Enterprises and Coca-Cola Co. have decided to abandon their low-price, high-sales volume strategy of recent years and will price their drinks in line with their rising costs. Previous strategy looked to sell as much product as possible to supermarket shoppers using low costs as an incentive. As part of the new strategy Coke recently raised its price to Coca-Cola Enterprises for concentrate, the major ingredient in soft drinks, by 6 percent, or double its increases in recent years. Arch-rival PepsiCo is expected to do the same.
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Publication:Food & Drink Weekly
Geographic Code:1USA
Date:Nov 22, 1999
Words:153
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