Comprehensive Brand Management Strategies: Coca-Cola Report Analysis

This report delves into the intricacies of brand management, using Coca-Cola as a central case study. It begins by highlighting the significance of branding as a marketing tool, emphasizing its role in creating a unique brand image and fostering customer loyalty. The report then explores the key components of a successful brand strategy, including brand equity, awareness, and loyalty, and how these elements contribute to a brand's value and market position. It also examines various strategies for portfolio management and brand management in partnerships. Furthermore, the report discusses different techniques for measuring and managing brand value. By analyzing Coca-Cola's practices, the report provides insights into effective brand management, the challenges faced by companies in the current market, and the importance of adapting to changing consumer preferences and trends.

Brand Management

Table of Contents
INTRODUCTION...........................................................................................................................1
SECTION 1......................................................................................................................................1
P1 Significance of branding as a marketing tool........................................................................1
P2 Key components of a successful brand strategy....................................................................3
SECTION 2......................................................................................................................................6
P3 Various strategies of portfolio management..........................................................................6
P4 Brand management in partnership and collaboratively.........................................................7
P5 Various types of techniques for measuring and managing brand value................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Process of examine that how a brand is perceived in market is known as brand
management. Today an enterprise is either small, medium or large and deal in any kind of sector
is very essential to manage brand. For this, it is significant for companies to first create and
maintain good relations with customers (Ashworth and Kavaratzis, 2010). Mainly, management
of brand consists of various tangible and intangible factors. Experience which a customer gets
after purchasing or consuming a product comes under intangible element while price, look and
packaging of a product comes under the tangible one. This function perform by the marketing
department of a company in which manager use different tools and techniques to increase
perceive value of a specific product and service. One of the major advantage of brand
management is that it increases profits of company and provides various long term benefits. A
multinational beverage corporation called Coca-Cola, manufacturer and retailer of different type
of non-alcoholic beverages is taken in present study. Major elements of a effective strategy of
brand management and significance of branding as a marketing tool is all given in this report.
Further, management of brand in partnership and different strategies of portfolio management is
also mentioned under this. In addition, various techniques for managing brand value are all
detailed in this.
SECTION 1
P1 Significance of branding as a marketing tool
Branding refers to the process in which various activities for create a unique image and
name in mind of customers for a specific product with help of promotional activities is include.
Major aim of enterprises behind this is to form a different and relevant presence of a product in
market in order to attract large number of customers. Main feature of this is that it helps firm in
identifying and analysing what customers think about the services and products that are offered
by them (Brodie and et. al., 2013). Further, this support customers find out the products of their
choice and as per their own requirements. Today, it is very essential for companies to create and
maintain a positive image of brand this not only attract large number of customers but at the
same time provide competitive advantage to firm. Branding helps firm to differentiate its
offerings from the goods offered by its rivals. All this helps firm in retaining its customers for a
long period of time which provide various long term benefits to company. Branding plays a big
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role in business activities and significance of this as a marketing tool for enterprises can be
understood by following points: Branding provide competitive benefit: It is very important for an enterprise to have
adequate amount of resources and funds to execute its business operations and to achieve
set goals and objectives (Buil, De Chernatony and Martínez, 2013). Companies
formulate business plans and strategies as well as implement the same to execute
business operations in an effective way. When all operations done in an adequate manner
than brand reflect company's strategic plan. Along with this, it supports in promoting
various key areas that contribute in growth of enterprise. Brand offer a stable assets: This is known as one of the major reason why branding is
known as very important. Brand is something which remains constant for long time
period and provides various benefits. It may be possible that the products which firm
brings or introduce in market can fail but a strong brand image remain the same and
contribute in success and growth of firm (Christiaans, 2012). Today, brand is known as
one of the most important and sustainable assets of every type of firm. When this aligned
with business strategy, then it also increases the effectiveness of decision making process.
Coca-Cola is a popular brand around more than 120 years and on the contrary, most
valued and popular brands have existed for 50 to 25 years. Brand offer economic value: Value of a company is mainly divided into two major areas
known as tangible and intangible assets and brand is an intangible asset. Brand name of
Coca-Cola has a value of $ 67 million which report over 54% of stock value of firm.
Further, firms which have an effective brand value attract skilled individuals and partners
towards the firm which increase quality of products and services offered by the firm
(Dempsey and Gruver, 2012). Along with this, brand helps in cutting the clutter from
market, creating awareness about company's products and at the same time, helps in
developing and boosting good relationship with customers. All this helps enterprise in
achieving its set goals and objectives easily.
 Brand set expectations: Branding also refers to the promise made by firms to its
audiences. Promise which a company made by its customers indicate what the company
believe, what it is and the core values and services offered by it (Esch and et. al., 2014).
Capability of enterprise to fulfil that promise is the major element that affects failure and
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success of company. When enterprise fails to deliver the product as per the promise, then
it negatively affects the image of brand. In context of Coca-Cola, different products of
firm such as no calorie and no sugar help in building a strong and large customer base.
Enterprise offer good quality and variety of products to its customers and all this adds a
positive point in brand value of company.
Large numbers of individuals get confused with the two terms that is brand and product.
But these are different form each other which is given under following points:
Brand Product
Brand is known as a unique term and name that
define its special nature in sector.
Product is known as a mixture of various
tangible and intangible features which an
enterprise offer to its customers to satisfy their
needs and wants.
This cannot be copied by another enterprise. This can be copied by other organisations.
Brand is intangible in nature and elements of a
brand give shape to customer's perceptions and
their attitude towards that brand.
Products are tangible in nature as these can be
seen, touched and consumed by others.
Management of brand in an effective way is very essential for an enterprise as this helps
in attracting large number of customers and satisfying their needs. Branding is something which
contributes a lot in growth of company. As this help in create and maintain good relations with
target market and many more.
P2 Key components of a successful brand strategy
Brand equity refers to the value of a brand which an enterprise examine by examine the
experience and perception of its consumers. Positive perception of individuals helps in increase
the value of a brand and enhance its brand equity (Gratwohl and et. al., 2011). For this, it is very
necessary for firms to manufacture and offer featured products to its customers and to implement
the innovation on continuous basis to offer something new and unique to its target market. Due
to positive perception of all customers of Coca-Cola company enjoy a strong and positive brand
equity. Major benefits of brand equity are as follows:
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 Strong brand equity ensure effective extension of product line of firm which enhance
company's profits.
 Brand equity increase market share of firm and provide competitive advantage.
Build a strong brand equity is one of the most important function of every organisation as
this help organisation in gain trust of its customers (Hanna. and Rowley, 2011). Following are
the main steps which firm follow to grow and develop brand equity: Step 1: Build awareness: In this, firm formulate and apply various strategies to make the
brand recognisable by its target customers. Step 2: Communicate the meaning of brand: Company do efforts to make the people
aware about the meaning of brand for example how its perform about its features and
many more. Step 3: Collect responses of customers towards the brand: In this step, manager examine
the reactions of public towards the brand, about its credibility, quality and other features.
Further, firm analyse whether brand get success in fulfil the requirements of customers or
not.
 Step 4: Create bond with customers: In this, company form a relationship with customers
and do efforts to maintain the same to retain them for long period of time.
Main elements which helps organisation in form a strong brand equity are as follows: Brand awareness: This is one of the core element relate with brand which attract large
number of customers towards company's product. But before make a brand a successful
one, it is very necessary that all customers should be aware about it and should know that
it exits in market (Hollebeek, 2011). Coca-Cola is one of the popular brand on a global
level as this serve large number of customers in different areas. Good quality of products
is one of the major element which help firm maintain a positive image in market and also
provide competitive benefit to firm. Perceived quality of goods: This aspect indicate what the customers feels about the
product and its quality offer to them by enterprise. Number of individuals are there who
buy the products of Coca-Cola and good quality and variety of products is one of the
major reason behind this. All this create a positive image of brand in mind of customers
and enhance their loyalty.
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 Brand association: This indicate the signs, designs, images and symbols use by
organisation to helps its customers to recognise company's product easily (Hwang and
Kandampully, 2012). It is important that brand should be associated with something
positive as this contribute a form a positive image of brand. Mainly brand association
refers to the quality and features which comes in customer's mind when a brand is talked
about. All this is formed on the basis of quality, price, products and advertisement done
by enterprise. Brand loyalty: This element defines the positive thinking of an individuals towards a
particular brand and dedication to buy the same product again and again. Mainly, brand
loyalty can be defined when a person but a good from the same manufacturer and retailer
again and again rather than other suppliers exist in marketplace (Jiang and Iles, 2011).
Because Coca-Cola offer variety of quality products to its customers so this is the main
reason that company enjoys a large and strong customer base. But due to globalisation,
large number of firms enter into the same field for which firm face number of challenges.
Main challenges face by company are as follows: Low calorie cola performance: For maintain the safety and health of customers,
government encourage production of only those products which contribute in health of
public and does not harm them. To achieve this, government first check and test the
products produce by firms and then give them approval. Due to this, Coca-Cola
undertake the production of drinks with low or no calorie and this help company in attract
large number of health conscious customers. Build brand: Today every organisation require skilled and capable candidates to perform
business activities so they can maintain the quality of its products and at the same time
can better fulfil the requirements of its customers. Emerging market performance: Due to number of rivals of Coca-Cola are exist in
market such as Pepsi Co, it become difficult for company to maintain its market share.
Further, this make the expansion of business activities difficult.
 Health and wellness trends: Coca-Cola offer variety of beverages to its customers which
increase its revenue. It is very important for enterprise to use good quality material for
production of products
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Brand reinforcement: This involve the process of manage equity of a brand by keep it
alive among its current and new consumers. All this increase the customers of company's
products and its profits.
Brand revitalization: This strategy is used by firms in to recapture its lost sources and
identify the various new sources of brand equity. Process of brand repositioning and product
modification is involve in this.
SECTION 2
P3 Various strategies of portfolio management
Management of brand is known as the process of build and maintain a connection
between company and customers for increase the number of profits and to retain customers for
long period of time (Kavaratzis, Warnaby and Ashworth, 2014). Management of brand helps
firm in make large number of customers aware about its offering and this increase the company's
chances to serve more number of clients. Same can be achieve by organisation to add more
features in its products. A brand can be a logo, sign, packaging, price or can be a tag line.
Concept of brand equity is important for firms because it help company in develop string
relationship with customers. All this enhance brand loyalty of individuals and increase number of
company's revenues.
Brand portfolio strategy: This strategy support and help firm in manage manage two or more
than two brands in market. In this, an enterprise offer various products to its customers under a
single brand. For example, Coca-Cola offer various products to its target market such as Sprite,
Fanta, Coca-Cola zero, Coca-Cola Life Minute maid and many more. For all these products firm
use effective strategies which are as follows: Driving revenues and profit growth: under this strategy, main focus of firm remain to
add more features in its product in order to make it more attractive for capture a large
market share. This enhance the value of brand and at the same time increase loyal
customers of company. Investment in business: Under this, company increase the amount of its investments in
various company's operations. Company focus more on its promotional activities which
provide various benefit to company.
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 More efficiency: In this, company take help of various tools and methods to increase
efficiency of business operations. All this help organisation in offer quality products to its
customers at affordable prices.
Management hierarchy of Coca-Cola Umbrella brand: in this strategy, company use a single brand and sale two or more than
two products under it. This mostly use by the companies which enjoys a strong and
positive brand equity (Li and Kambele, 2012). This strategy is totally different from
brand extension as in this company do marketing of a similar product under a single
brand name.
 Products: Coca-Cola offer different type of products to its customers such as Fanta,
Maaza, Sprite and many more. Firm use a unique strategy for every product and this
helps in attract large number of customers.
Management hierarchy of Pepsi Co: Umbrella branding: This strategy is use by Pepsi Co to sale its various products only a
single brand name.
 Products: Mountain dew, Tropicana, 7Up, Mirinda and Lipton all products are offer by
Pepsi.
Consumer based brand equity (CBBE model)
This model is use by firms as this helps in manage the brand equity in an adequate
manner. Marketing Professor Kevin Lane Keller given this model and he summarised that a
brand is something which define perception and feeling of consumers. All this give shape to
company's products and helps in fulfil the requirements of customers in an effective manner. All
this motivate individuals to buy products offer by enterprise.
Application of CBBE model: Brand identity: This step involves identification of quality and specific features of a
brand that helps in differentiate a company products form its rivals. Brand meaning: Under this step, company do efforts to make the people aware about the
meaning of brand as this help in remove confusion from their mind. All this add value in
success of firm. Brand response: This involves response of customers towards company products. Firm
do efforts to understand it for increase the sale of product.
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 Brand resonance: This involves build a positive image in mind of customers as compare
to the offering of rivals.
P4 Brand management in partnership and collaboratively
For make a brand a successful one, it is very important for firms to do efforts in order to
make the general public aware about it. To make its existence more effective, it is require by
firms to enlarge its products and services to better satisfy the needs of its customers. Two
enterprise called Coca-Cola and Pepsi do work to add value in their offering to better satisfy the
needs of customers.
Brand extensions:
This method is used by large enterprises to get loyalty and trust of its customers. Further,
this provide a chance to individuals to choose the product as per their need and requirements.
Mainly, brand extension is done by enterprises to add features and offer something new to its
customers and generate more amount of profits as compare to its rivals (Morgan, Pritchard and
Pride, 2011). If firm fails to add and offer something new to its customers on continuous basis
then brand lost its identify in market.
Pepsi and Coca-Cola both brand operate on an international level and due to its they
require to implement effective strategies as per the social and cultural vales of customers. Large
number of products of Coca-Cola are there which are very popular in foreign countries but fails
to perform effectively in India. Due to operating on a large scale, company require to make and
implement strategies as per consumer requirements. Both Coca-Cola and Pepsi formulate
strategies to remain competitive in market. Ansoff's matrix strategy is a popular one which is
applied by firms manage their brands at domestic as well as international. This matrix is divided
into following four headings: Market development: As per this section of matrix, company do efforts to grab that
section of society which it not touched yet. Various efforts are done by firm to create new
product for new market but is its very essential for managers to carry out a research to
identify the needs of individuals. Proper analysis increase the chances of product success. Diversification: In this strategy, company try to find out the features which they can add
in the product to better satisfy the needs of existing products and to attract large number
of potential customers. This require development of skills and knowledge of employees
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as this help in diversify the business operations. But this strategy require large amount of
funds. Market penetration: In this, company carry out an analysis to identify the sales done by
firm by a specific product in given period of time (Santos-Vijande and et. al., 2013).
After that manager compare the sales of that particular product with total sales of
company. In this strategy of value addition should be use by firms to enhance brand
value.
 Product development: Under this strategy, company tries to produce new products for
existing market to achieve success and growth. Extend product range in the existing
markets of firm is involve in this. Major methods of obtained this are: Acquisition of
rights to produce and sell someone's other product, investment in research and
development and joint development.
All these strategies are effective for growth of enterprise. Both Coca-Cola and Pepsi use
these strategies on timely basis to understand the market scope. All this contribute in success and
growth of firm. As these companies operate on an international level so various strategies are use
by them to analyse the market. Further, various tools and techniques are there to find out the
ways to achieve growth. It is very important for both enterprises to offer something new to its
customers this will them them in remain competitive at marketplace.
P5 Various types of techniques for measuring and managing brand value
Number of efforts are done by every enterprise to maintain its position and brand value in
market and during this they face number of challenges. It is very essential for firms to overcomes
with those challenges in an effective way to achieve set goals and objectives in an effective
manner (Som and Blanckaert, 2015). It comes under the responsibility of firm to offer unique
and featured products to customers to maintain their interest in company's product otherwise
public will loose its intersect and this will decrease the market share of firm. This issues is face
by small as well as by big brands. Two brands called Coca-Cola and Pepsi are loved by large
number of customers form a very long time and both firms have a strong customer base. But due
to emergence of new firms in market these brands are facing tough competition in managing
value of their brand. Due to all these situations, it is very important for firms to take measures to
analyse the value of brand on continuous basis as this helps managers in know about their current
market position and also give information about its competitors as well.
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Every firm require to measure the value of brand but main situation of measures brand
value arise in the following cases:
 The product management carry out the process of decide final price of product.
 When firm require to formulate its annual or financial reports.
Evaluation of various techniques used by Pepsi and Coca-Cola are as follows: Brand measurement techniques: It is very important for firm to measure their brand
value and various tools and techniques are there which use by firms for this. Effective
use of various techniques help firms in manage their brand in market. Different
techniques used by Coca-Cola and Pepsi are as follows: Qualitative techniques: Under this approach, responses and feedbacks of customers are
invited to determine the value of a brand. This is an unstructured approach. Various
techniques such as Free association, projective techniques and experimental methods are
used in this approach. Quantitative techniques: This is another approach use by firms to measure the value of
brand, numerical tools and scale representation are use under this in order to summarise
the finding in numerical terms. Major techniques involves under this are Brand image and
Brand awareness. Comparative techniques: This is another and one of the most effective technique of
measuring brand value. In this response and perceptions of consumers towards a specific
brand is assessed by firm (Wallace,Buil and de Chernatony, 2014). This helps managers
in identify the benefits of having a strong brand awareness. Brand based comparative
approach and marketing based approach are include under this.
For Coca-Cola For Pepsi
One of the main feature of Coca-Cola us that
it is very popular and recognisable brand by
large number of customers as this operate on
an international level. This comes under one of
the world's largest beverage enterprise.
Different number of modern marketing
techniques are use by firm which provide
various benefits to company. Major techniques
Pepsi rank among one of the top beverage firm
running effectively in market. Number of rivals
of this firm are there in market but still
company is bale to maintain its current market
share.
Techniques use by Pepsi are as follows:
Brand based comparative approach: this
approach helps firm in analyse respond of a
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