This presentation explores the relationship between branding and consumer behavior. It discusses the identification of consumers, marketing and branding strategies, analysis of consumer behavior, and recommendations. The focus is on Coca-Cola as a case study. References are provided at the end.
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Branding and consumer behavior
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Table of content Introduction Identification of Consumers Marketing and Branding Strategies Analysis of Consumer Behaviour Strategies along with its impact on consumers and decision making process Recommendations8 Conclusion References
Introduction ConsumerBehaviourreferstoastudyinwhichanalysisof consumers along with various methods they use to dispose their income towards various products and services is assessed. It includesvariousfactorssuchasmental,emotionaland behavioural responses of a customer towards the products. On the other hand branding refers to the practices in marketing under which creation of name, symbol as well as designs of different products that are differentiate it from others in market.
Identification of Consumers Coca-Colastrategicallyanalysesitstarget marketinordertoidentifythepotential customersofcompany.Companyhowever doesnotfocusoncertainsegmentof consumers but adapts the marketing strategy bydevelopingandinnovatingnewproducts. Thishelpsorganizationtocontinuously increase their consumer base. The major age group which Coca Cola focuses on ranges from 13-30yearsofage.Howevertherearea numberofpartnershipjointsthroughwhich companyreachesotheragegroupsaswell. They have linked up with a number of fast food restaurants such as Mc Donald's and Domino z through which it reaches out to customers.
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Marketing and Branding Strategies Brandingandmarketingaretwoofthe important functions which are to be use by companies in order to make sure that the customers are effectively attracted towards the brand. It is necessary for companies to increase their customer base and develop a competitive edge which is made possible by marketing and branding.
Continue… There are various branding strategies used by Coca cola which are mentioned below: Focus on Individuals and not towards organisation: Coca-Cola have successfully developed its communications, packaging in order to meet the promises that it had made to its customers that are “Happiness and Sharing”. Look for uniqueness of consumers: They are focusing upon their audience while crating advertisements. They keep in mind that there is no age bar attached to it.
Continue…. Focus on great content: The advertisements and branding used by Coca-Cola is specifically focusing on content. Right form of visuals: The brand majorly focuses on creating stories rather than just creating advertisements. Focus on Vision Statement: The vision statement of Coca-Cola says “ Happiness and sharing”. Since 1970 there have been creation of a number of different advertisements and campaigns.
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Analysis of Consumer Behavior Consumer behavior is the study which includes analyzing various processes which are used by consumer to choose a product or service is evaluated. Emotional, mental and behavioral responses of consumers are also studied in this. There are a number of concepts which helps organization in understanding behavior of customers. It can be divided into Psychological Concepts: Psychological concepts include the study of complex human behavior.
Continue… External Socio-Cultural Concepts: Socio-Cultural factors include various set of believes, behavior and practices that are existing in a population. It is necessary for organizations toexamine the socio-cultural environment in order to run their business and attract consumers.
Strategies along with its impact on consumers and decision making process Coca Cola used a number of different marketing strategies that have greatly influenced the decision making process of an its consumers. Below mentioned are some of its strategies along with its effects on consumers: Targeting Millennials Iconic Product design
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Recommendations There are several recommendations which can be adopted by Coco-Cola that is going to be mentioned below: Coco-Cola can introduce an assertive SME based drive in order to introduce or launch innovative product which is names as “Coke Vanilla. For this purpose, the organisation focuses on adopting different promotional techniques such as advertising, sales promotion, publicity as well as sponsorship and many more which helps in increasing awareness of innovative products in front of customer at marketplace.
Conclusion On the basis of above mentioned report, it has been analysed that it is necessary to assess needs or wants of customer in order to satisfy them. The branding signifies name, design and symbols of various goods which are differ from its rival firm.
References Eggers, F., Eggers, F. and Kraus, S., 2016. Entrepreneurial branding: measuring consumerpreferencesthroughchoice-basedconjointanalysis.International entrepreneurship and management journal. 12(2). pp.427-444. Keller, K.L., 2020. Consumer research insights on brands and branding: a JCR curation. Journal of Consumer Research. 46(5). pp.995-1001
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