Coca-Cola was founded in 1892 after the formula was invented by pharmacist John Pemberton. It was originally patented as a medicine before being bought by businessman Asa Griggs Candler. Coca-Cola's mission is to refresh the world in body, mind, and spirit. Some of its key strategies include differentiated marketing, celebrity endorsements, reasonable pricing, and ensuring availability in local markets. While Coca-Cola has a strong brand image and distribution network, it faces threats from changing consumer preferences, legal issues, competition from Pepsi, and increased raw material prices.