Brand Analysis Table of Contents Table of Contents 2 0 Brand Equity 3 2.0 Coca-Cola 4 3.0 Brand Auditing for Coca-Cola 4 3 Brand Promise 4 3.2 Brand Personality 5 3.3 Brand Values 5 3.4 Brand Attributes 6 3.5 Visual Identity 7 7 References 8 1.0 Brand Equity The origin of branding concept is debated by research scholars at various occasions while majority of them believe branding concept originated almost 150 years ago from the consumer durables segment. David Aaker argued that applying concept to everything is not justified rather marketer should use branding terms only for purchasable action. Marketers define brand as an intangible asset complemented by logos, characters, colors and symbols representing perception or image of the company among consumers.
For example Coke uses italics letter to write their in order to create sustainable brand image in the mind of customers. Concept of brand equity is important as the term defines value of the brand in economic term. Brand equity concept is highly influenced by consumer franchise of brand or in simple word brand equity contributes additional cash flow by linking the brand with underlying product mix or service mix. Financial perspective of brand equity shows strong brands often termed as power brands due to their ability achieve higher economic value than weaker competitors.
A small branding case of 1990’s can help to understand the concept of brand equity (Aaker & Biel, 1993, p. 69). Brand Product Price Market Share Brand Equity Sony Camcorder 10% higher than Nikon High High brand equity Nikon Camcorder Market Price Moderate Moderate brand equity Ricoh Camcorder 8% lower than Nikon Low Low brand equity (Source: Author’s Creation) 2.0 Coca-Cola Coca-Cola has been selected in this study for brand analysis purpose. Coca-Cola is a renowned American multinational organization. The company specializes in selling carbonated soft drinks to customers. The company was founded in the year 1886.
They have headquartered at Midtown Atlanta, Georgia. Currently Coco-Cola is selling their product in more than two hundred countries. 3.0 Brand Auditing for Coca-Cola 3.1 Brand Promise Brand promise is the unique quality and value that customer receives from particular product mix offered by companies. Research scholars have argued that concept of brand promise is more relevant to counterbalance intangibility of services and marketers need to build strong brand promise for selling service mix (King, 2006, p. 75). Coco-Cola has increased their product line extensively in recent years.
Fifty years ago there was only one caramel flavored Coke product but now the company has hefty product system in terms of height, length, width and depth. Some of the common flavors of Coca-Cola are Cola Green Tea, Cola Lemon, Cola Cherry, Cola, Cola Vanilla, Cola Lime, Cola Orange, Cola Lemon Lime and Cola Raspberry. Each of the flavors is embedded with the tradition brand promise of “to inspire moments of optimism and uplift” Coco-Cola. Although each of the flavors is made for particular target segment but at the end of the day they are all made for giving the sheer joy and optimism to customers (The Coca-Cola Company, 2010). 3.2 Brand Personality Brand personality means the idiosyncratic expression of the brand.
Brand personality helps customers to distinguish the brand from its competitors. For example personality of Nokia is traditional, user friendly and amateur while Blackberry possesses the personality of sophisticated, professional and independent. Concept of brand personality is often criticized by research scholars and they believe there is little or no difference lies between brand identity and brand personality.
According to them brand personality is superficial concept created to lure grey cells of human mind (Franzen & Moriarty, 2008, p. 230). Personality of Coco-Cola is reflected by their advertising campaigns. They tend to use youth icons like young actors, sports persons and celebrities in their advertisement. Analyzing advertisement of Coco-Cola helps five personality traits like Creative (product variation), friendly (product mix can be shared with friends), Charming (design of the bottle), Extrovert (Thums Up which is one of the key element of Coca-Cola product mix can be enjoyed during adventure tours) and Youthful (young celebrities endorsing the product).
For the above mentioned personality traits Coco-Cola can be rightly called as 126 years old young boy. 3.3 Brand Values Traditionally Coco-Cola emphasizes on providing value in terms strong flavors, refreshing taste, enjoyment to customers. Brand value of the company is more than $70 billion while in recent years the company is trying to increase brand value by participating in various events. In Asian countries like India the company organizes Coke Studio a musical platform for classical musicians. Coco-Cola company was one of the major sponsors in 2012 London games.
The company is increasing product line in order to satisfy taste buds of various customers. For example Coke Zero was targeted for calorie conscious people and value quotient in the product is zero calorie coke entangled with traditional cola taste. 3.4 Brand Attributes Brand attributes refers to specific benefits and values enabling the brand to deliver its promise. In 1998, Keller has distinguished brand attributes in two terms, 1- product related attribute and 2- non product related attribute. Product related attributes signifies objective benefits like wide distribution channel, quality certification of the brand while non product related attributes signifies price of the product, image of product and feelings related to consumption of the product (Elliott & Percy, 2007, P.
88). Brand attributes of Coco-Cola can be understood by using Keller’s model. Product related attributes Non product related attributes Nationwide distribution channel Competitive pricing is done for the product Various flavors offered to customers The company is serving quality product for last 126 years Certification of safety from various health departments and also they got LEED Gold Environment Certificate for their environment friendly approach Corporate social responsibility program designed by the company to help unprivileged people of developing nation Coke Zero is complemented with zero calorie for health conscious people Brand promise of enjoyment and fun is delivered with every bottle to customers Each of the product is originally manufactured by Coca-Cola without taking help from third party manufacturers Product can be shared and enjoyed with friends and family (Source: Author’s Creation) 3.5 Visual Identity Coco-Cola uses red color for designing background of the product name while product name is written in italics.
Primary packaging of the product is designed with vibrant colors to attract customer.
The company has also designed external features of the product in a customized manner to lure customers. Each letter of the Coca-Cola word is colored in white for their traditional bottle while the company uses combination of white and red color for their Coke Zero product line. The following picture will help to understand color scheme used Coco-Cola to design their product. (Source: The Coca-Cola Company, 2012) References Aaker, D. A., & Biel, A. L. (1993). Brand equity & advertising: Advertisings role in building strong brands.
London: Routledge. Elliott, R., & Percy, L. (2007). Strategic brand management. Oxford: Oxford University Press. Franzen, G., & Moriarty, S. (2008). The science and art of branding. Armonk, New York: M.E. Sharpe. King, J. M. (2006). Copywriting that sells high tech: The definitive guide to writing powerful promotional materials for technology products, services, and companies. Issaquah: WriteSpark Press. The Coca-Cola Company. (2010). Happy birthday, coco-cola! Retrieved from http: //www. thecoca-colacompany. com/presscenter/happy_birthday_coca-cola. html. The Coca-Cola Company. (2012). Products. Retrieved from http: //www. thecoca-colacompany. com/brands/index. html? WT. cl=1&WT. mm=footer3-prodinfo-red_en_US.