Final answer:
Coca-Cola competes globally by offering a diverse range of products, leveraging local resources in production, and maintaining strong brand recognition through significant advertising budgets.
Step-by-step explanation:
According to the box "Coca-Cola Global Offerings Expand Far Beyond Soda," Coca-Cola competes in the global marketplace by offering a diverse product range. Coca-Cola's business strategy includes significant product differentiation and global distribution. The company uses localized production, mixing concentrated syrup with local ingredients in franchised bottling plants, which allows for an extensive and varied product range that caters to different regional tastes and preferences. This strategy leverages local resources, such as water, and avoids the high transportation costs of shipping finished beverages. Furthermore, Coca Cola's reputation and brand strength are reinforced through large advertising budgets and marketing initiatives, making it difficult for competitors to match its brand recognition and market share.