Brand Management Assignment - Coca Cola
Added on 2020-10-04
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BRAND MANAGEMENT
INTRODUCTIONBrand administration is the effective merchandising techniques which is mainly utilisedfor examining their actual position, target customised, point of views and image of brand, etc.with the help of this, an organisation required to manage and maintain good image amongcustomers as well as in the large market place. Brand management is that term which includesmarketing, designing, advertising, distribution and placement for identifying the image ofspecific brand and also make positive environment for their target customers. There are variousnumber of factors such as customer satisfaction, perception, demand and supply, costing andcompetition in the large market place. A proper brand management provide positive and goodoutcome which can help in higher the sale of particular products but all the goods are associatedalong with brands but for this it is very essential for developing loyalty and belongings amongbuyerscognition for products and facilities (Ashworth and Kavaratzis, 2010). The study isfounded on Coca- cola is the soft drink company which is produced by coca cola company. Thecompany can get attention of large number of customers towards their drinkable items. Thereport is describe about different strategies and policies that includes brand equity and portfoliomanagement, etc. at the ned it will included in different kind of techniques and method formanaging and maintaining image of brand name in better way. SECTION 1P1 Importance of branding as a marketing tool and the way it has emerged in business practiceFor knowing the brand administration, it is essential for identifying the major conceptionand demand of required brand. A product icon can be determined as that approach, services,commodity which are eliminating from other services or facilities so it can easy to transmit andmarketplace in proper manner. The foundation of brand is that concept or process which isbecame more essential for managing and maintaining by big or small level organisation. Brand – It can be determined as marque sign is thing which can leave a intellectuallogotype or image in the mind of customers for recognise the company products (Bigné, Currásand Aldás, 2012). Brand management is very essential and important actor of an enterprisewhich help in meeting the products and services of the firm, Coca- cola has utilised thisconception for increasing the place of the firm. According to the explanation of Association ofAmerican Merchandising, brand define to quantity of signed, sign, designing or name which is1
called as the aggregation of such internee to employment and reputed designation from person toother of dealer and differentiated them from other marketer. Coca- cola analysing therequirements of administration of trade name, that is used for the statement of brand equivalenceas the leading elements for developing the proper representation and making effective worthamong the customers. Brand interest - Brand equality refers to the superior quantity which company canoperated from services with the supposed sanction, while comparison with general knowledge.With the assistance of this procedure, an administration are capable to enlarge their merchandiseline for reach with the success and growth level (Brodie, 2013). Brand as marketing tool - It is endowing services and products along with major brandpower and abilities. This will provide the actual meaning of products with providing andsupporting it with the label of particular organisation for making or creating new identification ofan organisation in the large market place. Therefore, the process is not assisting for firm but alsoconsume through offering best services and facilities in better manner. This will help theconsumer in searching the creative products according to their customers taste and preferencesand also try to satisfy their needs and wants. Thus, it is one of the leading advantage of this procedures which has been offer to gainopportunities to entity that help in eliminating the manufacturing form of commodity in thepresent trade. Therefore, brand establishment has their personal importance as the merchandisingmethod that can be understand by the following points:Brand Provide Competitor Bounds – It is necessary for to each one and everyorganisation is to identify the total amount of accessible resources for making appropriaterivals in the overall sector for reaching with predetermined goals and objectives of Coca-cola. With the help of this, firm has been executed new schemes and policies which isknown as “One Brand” for meeting the large number of target customers in given timeperiod. Brand support the constant and stable assets – This is one of the major process wherebrand management provide accurate meeting within long and short term targets of anenterprise with the assistance of organisation and on the other hand stakeholder acceptingand make changes in the meeting (Buil, De and Martínez, 2013). 2
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