Coca-Cola has responded to the humanitarian crisis in the Philippines by suspending advertising and reallocating its budget to disaster relief programs.
Casualty figures for Typhoon Haiyan have set a modern record for Southeast Asia; over 5,235 people lost their lives, and at least 4.2 million people have been displaced from their homes. It struck in early November is among the strongest ever recorded. There is an estimated US$5.8 billion in storm damage to homes and infrastructure.
“We wish to express our heartfelt solidarity to all Filipinos in these difficult times,”Carlos Salazar Lomelín, said Chief Executive Officer of Coca-Cola FEMSA, the bottling company of the Philippines. “It is in times like these when the Philippines sets an example of resilience and good spirit, and where our values of supporting ourselves as a team come at its best.”
This is a shining example of corporate social responsibility – a great marketing tool.
Coca-Cola FEMSA gained bottling and distribution rights in the Philippines last year in a $689 million transaction with another local bottler. FEMSA is the largest producer of Coke products worldwide, and is now increasing its Philippine manufacturing capability by acquiring the assets of other beverage makers.
Consumption of Coca-Cola products in the Philippines is higher than most of Asia, and it is one of Coke’s 10 biggest markets worldwide in terms of volume sales.
(image credits: Wikipedia Commons)