Abstract
Brand building is a marketing concept that can directly or indirectly influence the operations of a company or a market. It is created through brand loyalty, equity or positioning models. Brand loyalty results from consumer behaviors and affects a person’s preferences. Brand positioning is built upon consumer judgments, which may or may not reveal reality. A brand position is successfully built by conveying a reliable communication to consumers about the commodity or service, and where it suits into the market through publicity, brand label and wrapping.
Introduction
Products and services are vital components that organizations normally strive to outperform their competitors on by improving features distinct to them. This is called brand building, and it requires development strategies for consumers to appreciate the brand in the market. This implies that several aspects need consideration to develop a successful brand in the market. For instance, positioning, repositioning, announcement, internal promotion and quality of the product are crucial ingredients for a suitable brand. This is because they represent the effects that consumers imagine should be delivered. The concepts are essential because each of these relations influences the customer’s perception of the brand. Brands help to meet customer demands, distinctions and experiences, which fulfill their desires and requests.
PART 1: Primary Research and Text Application
Successful brands in the market will attract different customers, a situation that creates brand loyalty. It arises when consumers dedicate their spending to a brand and make frequent consumptions regardless of accessibility or price. Brand loyalty results from consumer behaviors since it affects a person’s preferences. Therefore, companies will always use different marketing strategies to promote loyal customers through loyalty packages such as rewards programs or tests and enticements like free samples (Jones, 2001). Notable examples of consumers who show brand loyalty are Coca-Cola drinkers. This group of consumers will not take other competitor brands regardless of any limitation. They feel that Coke brands are manufactured with healthy ingredients and international approvals by standardization agencies.
Alternatively, Coke enjoys brand equity because their products successfully engage with their customer base, which initiates brand devotion, allowing the business to propagate further. The company also enjoys brand equity and loyalty because of the first mover advantage. This has enabled them to stay at the market for a considerable period, which means that they normally determine the trends in the soft drink industry. This had enabled them to create a strong positioning in the thoughts of target clients before competition entered the market. Brand equity is also boosted directly through promotion campaigns or indirectly through advertising such as event funding. Consumers also show loyalty to their preferred brands through considerations of brands position in the market (Jones, 2001).
Positions are built upon consumer judgments, which may or may not reveal reality. A brand position is successfully built by conveying a reliable communication to consumers about the commodity or service, and where it suits into the market through publicity, brand label and wrapping. Communication is a vital element in positioning because it helps the considered market associate with a value with the product or company (Parameswaran, 2006). Most Coca-Cola consumers like the product because it helps them in distinguishing salient features of a brand compared to rival firms. This implies that brand positioning entails recognition and determination of similar and diverse points that establish the right distinctiveness and create a suitable brand image. Positioning of Coca-Cola helps in directing the company’s marketing strategy by explaining the brands facts, uniqueness and comparisons with the competitive products and the reasons for purchasing and consuming their product (Parameswaran, 2006). Therefore, positioning is the foundation for increasing the essential knowledge and opinions of the customers. The distinct feature sets a product or a service apart from the rivals.
However, in some scenarios where positioning fails to benefit a certain brand, the company may attempt repositioning concept. This concept occurs when a brand attempts to alter its market position to reveal a change in consumer’s perceptions. This is frequently required when a product has become drained, perhaps because its unique market has developed or has gone into failure. For instance, the repositioning of the Coca-Cola brand from a soft drink for children to a leading energy drink is an aspect that has maintained the brand in the industry (Sengupta, 2005).
PART 2: Secondary Research in the Databases
Coca-Cola Company has a strong brand that not only manufactures and supplies their products around the world, but also advertises the non-alcoholic drink distillates and syrups. The company plays an essential part in the global markets, and it provides its one of the closest contestants Pepsi a significant challenge when the rates of the snacks are nearly identical. According to the Coca-Cola approved website, the company is developing gradually with its increasing, 92,400 worldwide personnel are being hired to work for it. Alternatively, Coca-Cola becomes an effective company and receives substantial revenue, using its interior and exterior marketing policies to overcome other contestants. The company also asserts that modernization is one of the causes why they succeed (The Coca-Cola Company, 2009).
Although the company concentrates on the entire population in the world, young age group is the directed market. However, there are some products, which target exact consumers. For instance, Coca Cola’s nutrition soft drink is directed at consumers who are mature in age, between the ages of 25 and 39. PowerAde sports drink targets those who are fit, strong and do games. Winnie the Pooh Juice drink target youngsters. This marketing method refers to market breakdown. The Coca-Cola Company when selling has a prime target market (The Coca-Cola Company, 2009). Market divisions help the company to expand their products and facilities in consideration of the customer needs and improvement of new segments. They mostly market products that receive high sales in different regions. Market segmentation is carried out on the basis of behavioural, psychographic and profile features. Coca-Cola creates significance to its clients and applies good performance to persuade people to purchase their products. The company invests lots of money to publicize the products from one republic to another. This is achievable because there are numerous beverages sold at every collection and sporting ground across the regions because of easy convenience.
Similarly, the Coca-Cola Company offers each store different treatment and management of resources. For instance, in Japan, Coca-Cola Corporation directed its products for clients, not only via their products or preferred choices, but according to the tradable requirements of logistics and marketing machines to convey more accessibility and time consumption, such as aid the billing or regular distribution (The Coca-Cola Company, 2009). Positioning strategy is applied in similar condition in all nations, which shows a worldwide image of fun, moral times and satisfactions (Sengupta, 2005).
Conclusion
Product branding is a crucial concept in marketing that aids large and medium companies to compete and attain market niches. This is because it creates impressions that persuade consumers to purchase their products or acquire services. Coca-Coca Company enjoys reputable branding that makes it a fast mover in the soft drinks industry. Market segmentation model also contributes to economical promotion strategies and utilization of all consumer requirements. Brand building successfully nurtures loyal customers to grow as brand representatives who conduct friendly endorsements of products to their peers. Being the biggest producer, supplier and vendor of non-alcoholic drink industry, the Coca-Cola Company has been organizing positive business with its licensing model in the international market. The company occupies a noble position to conquer any soft drink market groups. Coca-Cola endures to expand their consumers through investing in different products, and update facilities to get better outcomes for its trade in order to maintain their loyal patrons throughout the world.
References
Jones, J. P. (2001). What’s in a brand? Building brand equity through advertising. New
Delhi: Tata McGraw Hill Pub.
Parameswaran, M. G. (2006). Building brand value: Five steps to building powerful brands.
New Delhi: Tata McGraw-Hill.
Sengupta, S. (2005). Brand positioning: Strategies for competitive advantage. New Delhi
[u.a.: McGraw-Hill.
The Coca-Cola Company. (2009). Retrieved 29 January 2013, from
< www.thecoca-colacompany.com>
