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Report on Brand Management of Coca- Cola

   

Added on  2020-06-04

19 Pages5609 Words55 Views
Brand Management
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Importance of branding as a marketing tool and why and how it has emerged in businesspractice........................................................................................................................................1P2 Key components of a successful brand strategy for building and managing brand equity....3TASK 2............................................................................................................................................6P3 Different strategies of portfolio management, brand hierarchy and brand equitymanagement................................................................................................................................6TASK 3............................................................................................................................................8P4 How brands are managed collaboratively and in partnership both at a domestic and globallevel.............................................................................................................................................8TASK 4............................................................................................................................................9P5 Different types of techniques for measuring and managing brand value..............................9CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONBrand management is an important activity for every business organization to manage allthe tangible as well as intangible characteristics of a particular brand in market place. In this,tangible elements include products, price, packaging and many more which helps on evaluatingthe customer’s experience. One of the important aims of brand management is to establish astrong emotional connectivity with customers by conveying message and gaining customer’sloyalty towards the products and services (Brand Management - Meaning and ImportantConcepts, 2017). With the help of this, company easily builds customer’s trust and also captureniche market by delivering high quality products and services. Present report is based on Coca-Cola which is a popular and biggest company that was invented by Doctor John Stith- Pembertonin 1886. They cover almost 40% market share in the UK. The vision statement of this companyis to bring their brand image in all across the world by satisfying customers’ needs and demands.This report has discussed about key components of successful brand strategy which help inmanaging brand equity in the market. Along with this, various brand management strategies arealso mentioned in this project.TASK 1P1 Importance of branding as a marketing tool and why and how it has emerged in businesspracticeBrand:Branding is an effective process which helps in creating unique and specific name as wellas image of the products which define clear commodity of particular firm from other competitorgoods. Main aim of branding is to differentiate their products quality which help in maintainingloyal customers for a long time period. Basically, it shows customer’s taste towards company’sproducts and services by evaluating their reputation and logo in the market place. With the helpof this, consumers easily identify specific products for satisfying their needs in the most effectivemanner. Along with this, it is important for organization to establish their brand image in front ofcustomers so that they can easily capture a large market share from its rivals. Basically, it is oneof the significant activities for business organization to effectively manage their products brandin order to attain competitive advantage in market. Effective brand image of company helps inincreasing their sale and profitability in appropriate time period (Santos-Vijande and et. al.,1
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