logo

Brand Management Assignment- Coca Cola

   

Added on  2020-06-06

18 Pages6036 Words34 Views
Brand Management

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Significance of branding as a marketing tool........................................................................1P2 Major components of a successful brand strategy.................................................................3TASK 2............................................................................................................................................5P3 Various strategies of portfolio management..........................................................................5TASK 3............................................................................................................................................7P4 Management of brand in collaboratively and in partnership.................................................7TASK 4............................................................................................................................................8P5 Different types of techniques for measuring and managing brand value..............................8CONCLUSION..............................................................................................................................11REFERENCES................................................................................................................................1

INTRODUCTIONBrand management is a procedure which consists analyse & plan that how a brand is tobe perceived in marketplace. Create and maintain good relations with clients is very essentialcomponent of brand management (Annie Jin, 2012). This is a unison of various tangible andintangible elements. Price, packaging and look of a product is come under tangible componentswhile the experience which a customer had with the brand and relationship with the brand iscome under intangible factor. Major advantage of appropriate brand management is that it aidsenterprise in capture a larger market share which increase profits of company. Basically, brandmanagement is a function of marketing in which enterprise use specific tools and techniques inreply to increase the believed values of a product. Coca-Cola is an American multinationalbeverage company. It is a retailer and producer of non-alcoholic beverages is taken under thisreport for study. Importance of a branding as a tool of marketing and main factors of anadequate brand strategy is all detailed in this report. Further, different tactics for portfoliomanagement is also given in this. Herewith this, various type of techniques which can be use byenterprises for management of brand valuer & effective management of brand in partnership ismentioned in this. TASK 1P1 Significance of branding as marketing toolWhat is a brand: A brand is a feature, name, logo, design, symbol that make anenterprise or product from its other competitors. This is used in businesses for undertake itsmarketing and promotional activities. Branding is a process which consists, create a different and antique sketch and name foran item in mind of customers with help of advertising programs. Main motto of branding is toestablish an appropriate and distinctive existence in market that helps in attractingwide numberof clients and at the similar time help in keep them for longer period of time.This action helpsmanagers in examine consumer's taste and think towards product and services offer by company(Balmer, Liao and Wang, 2010). This helps customers in found the products of their choice,needs and requirements. In today's competitive world, it is quite important for every enterprise tobuild and maintain a positive brand image in front of all target market. All this help organisationin attaining a large market share as compare to its competitors. This ensure effectivemanagement of product which provide competitive advantage to company (Baumgarth, 2010).1

One of the major benefit of branding is that it provides an opportunity to firm to differentiate itsproducts form other goods exist in market that aid enterprise in fascinating more number ofclients and also help in keeping them for longer duration of time.Why is branding an important marketing toolImportance of branding as marketing tool will be better understood by following points:Branding serve competitive gain: Every kind of enterprise whether it is a little, mediumor large require adequate amount of resources to compete in market and to achieve its setgoals and objectives (Bergkvist and Bech-Larsen, 2010). Enterprises formulate andimplement various strategies, a roadmap that detail the specific measures and actions offirm for reaching end goals and results. When all this done in an effective and correctmanner then enterprise's brand reflect its strategic plan. Further, helps in promote the keyareas that help enterprise in move ahead. Brand provide certain assets:Main reason behind importance of branding is that itremain the same and provide various longer duration benefits to company. This might bepossible that items which association brings can fail, technology which enterprise uses dochange on a regular basis, but an effective and strong brand image remain same and carrythrough all these modifications (Braun, Kavaratzis and Zenker, 2013). Brands arepopularised as most sustainable asset of each company. When branding aligned withoverall strategy of firm this helps managers in decision-making process. In respect ofCoca-cola, it is a brand around more than 121 years while apart from this, most valuedand prominent brand have presented for 51 to 25 years. Brands provide economical value:Valuation of an enterprise is mainly segmented intotwo segments known as tangible and intangible assets. Brand is being an intangibleassets. Brand name Coca-Cola has a worth of $67 million and report for over 54% ofstock value of company. Overall, brands play a significant role in attract skilled workers,partners and customers towards the company's products and services (Burmann andKönig, 2011). Further, brands help in cut out the competition factorat marketplace,create awareness for enterprise and also helps in create and develop beneficialrelationship with customer. Employees, supplier and with public which aid firm in reachto its end targets easily. 2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Significance of Branding as a Marketing Tool - Report
|16
|5531
|31

Brand Management in Business Practice
|18
|6226
|195

Brand Management Tools : Assignment
|20
|6539
|155

Brand Management Assignment Solution
|15
|5382
|106

Brand Management Assignment - Doc
|15
|5465
|28

Brand Management in Business Practice
|13
|5041
|426