Studies show that higher quality brands create greater market share and higher profitability than rival brands. This is true in the case of Coca Cola as it is infact the leading brand in the world.
Changing customer tastes is one of the main reasons why quality control is a company’s top priority when building a brand. Coca-cola is clearly showing that it is on top of this with the introduction of:-
- Diet Coke
- Coke with a twist of lemon
- Coke with vanilla
And so on, but not only that, Coca-cola distribute their 400 products in around 200 countries and adapt their product to the tastes of that country because as stated on the Coca-cola website “everyone has different tastes”.
Positioning
As the worlds leading brand you would expect Coca-cola to have a unique position in the market, however this is not the case due to the sheer amount of competition, for example:-
However, due to strong and successful brand building, Coca-cola win hands down in sales due to their strong brand image within the market.
Shown below are the 6 elements which will be analysed by brand managers, this is to help obtain an accurate insight as to how brands are positioned in the marketplace.
(Jobber,David(2005)Principles and Practice of Marketing,4thEdition,p.270)
Brand Domain
This is how they aim their product at their target market. This backed by the information given in the journal by Gordon Foxall. Coca-cola produce a product which satisfies the needs and wants of their target market.
Brand Heritage
Coca-cola has managed to create a strong brand heritage due to the fact that they were founded as far back as 1886.
Brand Value
Coca-cola’s main brand value is Quality.
Brand Assets
This helps establish what makes it stand out. What makes the brand, Coca-cola, distinctive is the fact that they have such a strong brand logo,etc
Brand Personality
In the case of Coca-cola their brand has a young image that appeals to both male and female.
Brand Reflection
This is how the customer feels when buying the products. As Coca-cola has quality certification the consumer knows it is going to be good when purchasing the product.
Repositioning
This is the next step to the brand building process. This is something a company would need to do if they were entering into a new market with the same product, however this something Coca-cola have never had to do.
Long-term Perspective
Brand building is a long term activity. This is something that Coca-cola has been working on since 1886. To obtain customer loyalty and high brand quality, management must be willing to provide a high level of brand investment consistently. This is something which Coca-cola has quite clearly been able to achieve successfully.
Internal Marketing
This is to create loyalty within the company. Coca-cola do this through merchandise given to staff who then wear and promote at company events.
Being First
The fact that Coca-cola was the pioneer brand gave them a head start in gaining customer loyalty. Meaning that all other brands that have come onto the market after Coca-cola, ie Pepsi, are simply playing a game of catch up.
Well-blended Communication
A successful brand position is based on customer perception. This is done through advertising. In the case of Coca-cola they changed the colour of Santa Claus from green and white to their globally recognised colours red and white to create their Christmas adverts. With Coca-cola adverts they are never trying to sell the products its only ever the brand.
