Coke is in the branding business, IMHO.

They do a lot more advert creation than they do drink creation.

Pretty much all modern branded consumer goods invest way more on brand recognition and the kind of advertising that says nothing about quality and is purelly designed to create a subconsciously association they brand and positive feelings and/or make it seem socially fashionable (you know the kind: happy friends around a campfire having fun with package-of-branded-good on their hands)

(Those things are actually funny to analyse: generally drinks do "social/trendy", perfumes do "sex", cars do "freedom")

At some point in the 60s in the US a nephew of Freud (I kid you not!) introduced actual teachings from the Science of Psychology into Advertising and since then consumers of large brands have been mostly manipulated via that kind of psychologically manipulative advert. Nowadays you pretty much only see other kinds of adverts for cases like small brands trying to expand brand recognition (something the likes of Coka-Cola doesn't need), and for the rest seldom are the actual qualities of the product being sold mentioned.