Brand Management of Coca Cola and Pepsi : Assignment
Added on 2020-07-22
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Brand Management
Table of ContentsINTRODUCTION...........................................................................................................................1SECTION 1......................................................................................................................................1Brand...........................................................................................................................................1Branding as a marketing tool......................................................................................................1Brand Equity...............................................................................................................................2Difference between a brand and the product...............................................................................2Key elements of the stronger brand............................................................................................3Brand management and development.........................................................................................4Main challenges in brand development.......................................................................................5Section 2...........................................................................................................................................6Article..........................................................................................................................................6Brand portfolio strategy..............................................................................................................6The management hierarchy.........................................................................................................6Brand equity management using CBBE model..........................................................................7Extensions approaches and Strategies of brand..........................................................................9Ways of Brand reinforcement and revitalisation........................................................................9Collaboration and partnership in brands...................................................................................10Brand measurement techniques.................................................................................................10Brand equity audit and tracking techniques..............................................................................10Various approaches of brand valuing........................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
Illustration IndexIllustration 1: Corporate management hierarchy.............................................................................7Illustration 2: Keller's brand equity model......................................................................................8
INTRODUCTIONA brand is special identity or recognition that is given to a business organisation or abusiness that helps the company to have a better market share and customer base. An effectiveand strong brand helps business to improve profitability (Rosenbaum-Elliott, Percy and Pervan,2015). For the report, Coca Cola and Pepsi are been taken as organisation or brand of context.This report will cover the details of a brand, its importance as a marketing tool, brand equity anddifference between a product and a brand. The challenges of brand development are taken intoconsideration and brand portfolio strategy are discussed and various extension approaches aretaken into consideration as well. The report also covers various collaboration and partnershipapproaches as well as various brand equity auditing and tracking measures (Okonkwo-Pézard,2017).SECTION 1BrandA brand is the unique identity in form of a design, logo, slogan or symbol, whichprovides a business or a company a unique identity and better recognition in the market. It helpscustomers of the company to easily identify product or service of cited firm in a market place.Other than this, a strong brand will help in the better promotion of the sales and help thecompany to have a good productivity and profitability. It helps the business firm to provide theircustomers with better satisfaction level and achieve their trust level in a very significant manner. For a company, the brand keeps a very essential; and important part as it helps thebusiness firm to have a better competitive advantage over its rivals and gain a good profit marginthat helps the company to meet their operational requirements in a very effective manner. Otherthan this, to maintain the brand image and value, company or organisation will undertake certaininnovative measures that will help brand to sustain its market position and retain customer's trustlevel (Vigneron and Johnson, 2017).Branding as a marketing toolThe effective branding helps business organisation to have a better promotion of variousproducts or services that are developed by company. The effective branding helps business firmto easily convey business message to its customers. Besides this, the strong brand image willhelp company to promote and sell its products and services more easily to customer's, creating a
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