Brand Management of Coca-Cola : Report

Brand management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Significance of branding as a marketing tool .......................................................................1
P2 Key components of a successful brand strategy and managing brand equity........................3
TASK 2............................................................................................................................................5
P3 Analyse different strategies of portfolio management, brand hierarchy and brand equity
management. ..............................................................................................................................5
TASK 3............................................................................................................................................9
P4 How to manage brand at domestic and global level .............................................................9
TASK 4..........................................................................................................................................11
P5 Different types of techniques to manage brand value..........................................................11
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................14

INTRODUCTION
Brand management is a process of managing, improving as well as upholding a brand so
as to attract maximum number of customers. In this over dynamic environment, it is fundamental
for every business organisation to manage its product or brand so as to obtain high competitive
edge. Brand management works marketing foundation which helps in raising sales and
profitability of the firm in a certain time period. It is all about capturing the niche market through
providing qualitative products and building trust among customers (Keller, Parameswaran and
Jacob, 2011). Branding helps in gaining customers' perceptions and mind set about goodies
which are offered by company. The present report is based upon Coca-cola it was founded in
1886. The firm has covered 40% market share in UK soft drinks industry. The vision statement
of Coca-cola is to bring to the world a portfolio of quality beverage brands which anticipate and
satisfy people's needs and desires. Apart from the report will be described the significance of
branding as a marketing tool. There will be discussion on key components which are liable for
successful brand strategy. Furthermore, managers have to use different strategies and policies for
brand equity management. Readers will also come to know about various techniques for
measuring brand value of the company.
TASK 1
P1 Significance of branding as a marketing tool
Before understanding the concept of brands, readers have to know about the core concept
of brand. A brand is more distinctive than a product; it is a set of added values which offers
functional as well as psychological benefits to company. For example- Coco-cola is most popular
brand in UK soft drink market. If the company lost every thing except the formula” and its
“Brand name” it could walk into any bank over the world and get $100 billion loan to start from
the scratch. Therefore, brand name also helps an organisation to over come from all future risks
and uncertainties (Kapferer, 2012). Apart from this, a brand also represents total of individuals'
perception towards company's services, advertising, reputation etc. When all these aspects will
together then any business entity can easily achieve its goals and objectives in an effective
manner.
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A product is totally different from a brand, this differentiation can be seen through this
table: -
Product Brand
Product is made in a factory A brand is bought by customer
A product can be copied A brand name is unique
A product can be quickly outdated, i.e. Mellow A successful brand is timeless, i.e. Coke Dite
Branding – Branding plays an important role in building customers' loyalty and creates a
positive image of business organisation. Coco-cola has an effective brand image in national as
well as international market, i.e. this is the main reason that this organisation has large number of
loyal customers. Beyond just a memorable logo, strong branding can raised the value of a
company; it renders motivation and direction to employees and acquiring new customers. On the
other hand the term brand management relates with designing, marketing, placement, advertising
and distribution which can foster a developing brand personality. “Brand management is a
complete management approach”. In other words, it is not only relates with customers
engagement but also managing all activities of a business organisation. Therefore, branding
implements, reinforces and increases experience of customers; it communicate firm's promises to
intended audiences (Hanna and Rowley, 2011). Beside this, marketing is used to promote a
brand's products. Basically, it is the way of reaching numerous customers. There is close relation
between marketing and branding because branding reinforces and marketing promotes.
Although, effective branding helps in managing healthy and positive relations with customers.
There are different types of brand: - Product and services – A tangible product and service is the most common thing which
is linked with a brand. More than one products are involved in a brand, an integrative
attribute will be present. For example- Coke is a brand but different Coca-cola beverages
is also a constitute brand. On the other hand, different services can also be a brand, i.e.
delivery of solutions in order to meet buyers needs. Individual person – People also can be brand on the basis of their personality, position,
charisma, influence etc. An individual's brand is also an expression of their natural
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