Coca-Cola vs Pepsi: Competitive Strategies
Added on 2020-06-05
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Brand Management
Table of ContentsINTROUCTION..............................................................................................................................1TASK 1............................................................................................................................................1P1. Significance of branding as a marketing tool.......................................................................1P2. Key components of a successful brand strategy...................................................................2TASK 2............................................................................................................................................4P3. Various strategies of portfolio management, brand hierarchy and brand equitymanagement................................................................................................................................4TASK 3............................................................................................................................................6P4. Brands are managed collaboratively and in partnership.......................................................6TASK 4............................................................................................................................................7P5. Various types of techniques for measuring brand value.......................................................7CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11
INTROUCTIONBrand management refers to an important activity which is performed by company inorder to maintain and improve their actual brand image in the competitive market world. Forthis, the manager are required to manage all tangible as well as intangible features present inmarket place. Under tangible, elements include packaging, costs and different factors which arehelpful in analysing the customer's behaviour and preferences towards their brand image. It isrequired for company to maintain healthy relations with their customers so that their overall salesfigures will not get affected. This project assignment is based on Coca-Cola which deals inselling soft-drinks across worldwide and has attains strong brand image and capture almost 40%in UK. Project covers the importance of brand and various techniques to measure value of brandwhich help company in generating high revenue. There are various strategies of brand, portfoliomanagement and equity management mentioned in this report as well.TASK 1P1. Significance of branding as a marketing toolBranding is defined as an effective process in which the company named its productwhich help in recognising all over the world. It is considered as valuable asset which helpcompany in attracting large number of customers. As per the Philip Kotler, if the products is nota brand then it means it is not a commodity. The main target of company is to achieve goodbrand image in market which brings positive image in customer's mind so that they can prefer tobuy their product rather than their rivals products. For this, company need to improve theirquality by implementing some changes on the basis of the taste and preferences of targetedcustomers.In competitive environment, it is important for company to attain strong brand image inmarket so that they can easily influence the customer's interest to buy their product. All thesesteps will help company in competing with their rivals. Branding will bring difference amongtheir competitor relating to the price, quality and features they offered. In case of Coca-Cola isattained strong brand image which help them in defeating their competitors in market. Theimportance of branding as a marketing tool are discussed as under: It gives competitive advantage: Branding is an essentially required for every businessorganisation irrespective of the size whether small or medium or large. The company who have1
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