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Brand Management Assignment | Coca Cola

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Added on  2019-11-20

Brand Management Assignment | Coca Cola

   Added on 2019-11-20

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Running head: BRAND MANAGEMENTBrand ManagementName of the student:Name of the University:Author Note:
Brand Management Assignment | Coca Cola_1
1BRAND MANAGEMENT1. Outlining Coca-Cola as a brandCoca-Cola is one of the largest beverage companies in the world. Headquartered inAtlanta, in Georgia, it is an American multinational beverage corporation. The company is thelargest producer of carbonated drinks in the world. The Coca-Cola Company produces syrupconcentrates, which are sold to the bottlers. The company also owns its anchor bottler in NorthAmerica. The brand of Coca-Cola is popular among the people of the world. The carbonateddrink that the company offers is popular among customers of all age. The brand is well-promotedand advertised. Along with sponsorships in various promotional events, celebrity endorsement isalso high in case of Coca-Cola. Advertisement is given adequate importance, thus, popularisingthe brand. The company uses direct marketing, viral marketing, web and social media, as well assales promotion, in order to popularise the brand. 2. Key issuesThe changing trends in the consumption of the carbonated drink affected the business ofthe beverage company Coca-Cola. The awareness among the people regarding the adverse healtheffects of consumption of the carbonated drinks resulted in a major issue for the beveragecompany Coca-Cola. The changing environment for the beverage company resulted in thedecline of the sale of Coca-Cola (Andini and Simatupang 2014). Another issue faced by theCoca-Cola Company is the decline in the competitive position of the company. This is because,various other companies such as PepsiCo has been rising in power with their new products. Thisalso resulted in the decline of the brand value of Coca-Cola, since some of the customers shiftedtheir choice from Coca-Cola to PepsiCo (Barkay 2013). However, along with these issues, thecompany has new opportunities as well. With the rise of the health consciousness of the people,
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2BRAND MANAGEMENTregarding the consumption of carbonated drinks, Coca-Cola might consider productdiversification. 3. Alternative actions pertaining to the key issuesBrand-based comparative approaches are an effective method of understanding the brandvalues and analyse the consumer behaviour towards the brands. The brand based comparisonmethods chooses a group of customers to respond to the elements of marketing program. Thegroup of customers respond to the same elements of the brands, thus a clear comparison is seen.The alternative actions to the key issues include regaining the lost target customers (Rosenbaumet al. 2015). This could be done by introducing a variety of products, other than the carbonateddrinks (Andini and Simatupang, 2014). The variety of products includes non-carbonated drinks,fruit juices, aerated drinks, health drinks as well as non-carbonated beverages. This could behelpful in retaining and regaining the lost customers. Moreover, Coca-Cola needs to gainconsiderable competitive advantages over its competitor PepsiCo. In order to gain competitiveadvantages, diversification of the products is essential. Thus, the diversification of the productswill help Coca-Cola to regain its competitive position as well as ensure gaining newopportunities (Ertimur and Coskuner 2015). 4. Brand evaluation A blind-test conducted on a group of consumers with Coca-Cola and two other brandshighlighted that 50% of the customers chose the brand Coca-Cola in the blind test. Thus, in thebrand-based competitive approach, Coca-Cola was identified as the best brand. The mainadvantage of the brand-based comparative approach is that it encompasses all the aspects ofmarketing program (Ertimur and Coskuner 2015). The exact knowledge of the brand along with
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