The biggest issue is how to elevate the significance of products to customers. They have to be more creative than their competitors; this will be reviewed with reference to a successful brand in the world. Part 1 Competitor Selection Coca-cola Company has been a successful company over the years and is the leading group in the beverage industry. It is known for the production of brands which include coke, Fanta, coke classic and Diet coke. It is a company that ensures that the demands of all consumers are met by their production of a wide variety of drinks. The company is devoted to offering secure and high quality beverages (The coca-cola company, 2012). They have gained the trust from customers because they provide honest and correct data especially on the nutritional information. This explains why it has a large market cover all over the world. The products offered are of different sizes so that the consumer can choose from a variety. It recognizes the fact that the world is dynamic, and changes every day, therefore, they develop their products accordingly. The competitors have a low representation as Coca-Cola has the biggest percent, 70% of consumers as compared to Pepsi’s 20% and Schweppes’s, 10%. Analysis of Price The prices are reasonable and are developed depending on the market. They also vary depending on the size of the bottle and seasons. (The coca-cola company, 2012) Some seasons such as summer have the prices of the products elevated. Research shows that 13% of consumers buy products in relation to price. Analysis of Distribution Distribution is offered to middle men and retailers, and this way, the products are sold extensively. This incentive is taken to reduce the costs associated with individual distribution. They have one main distribution point whereby the middle men obtain the products. Coca-cola products are well distributed with only 3% who do not have some of the products available. Analysis of Promotion The coca-cola company promotes their products by conducting sales events, and develops competitions with prizes to be won. Promotions are aimed to persuade the customer and make them purchase the goods. Advertising is also a form of promotion in which Coca-cola is known for their catchy advertisements. This is done through newspapers, television, posters and billboards. They also offer scholarships to students and also sponsor events such as games (The ‘coca-cola’ brand & sponsorship, 2000). Coca-cola has been successful because of their uniqueness around the world. It maintains to be the most trusted beverage brand and is the most preferred brand in relation to the research. This shows that they promote their products in the right manner. Part 2 Brand Background Founded in 1886, coca-cola has continued to develop extensively throughout the world. (The Coca-Cola Company, 2012). Coca-Cola has kept on implementing brand strategies that involve renewing policies and systems to keep up with the changing world. Coca-cola believes in responsible marketing of their products. This is explained by the fact that they target different customers including children. The company, therefore, has a policy that covers responsible marketing all over the world. Coca-Cola mainly targets the young people, and that is why most of advertising on media is done by young people. Coca-Cola has been the leading brand because the company keeps on reinventing their products. They have understood how the brand has created value for the company and,
Name Professor Course Date Abstract In an extremely competitive world full of many products, branding and marketing is necessary in every company. Every company needs to develop a brand image that will fascinate the consumers. Business is about attracting customers and making profits…
The aspect of globalisation has led to business organizations expanding their businesses beyond geographical and political boundaries in an attempt to reach out to new markets with large scale potential. This has also triggered a wave of competition among the business organizations as they are trying to use every possible resource at their disposal to attract customers.
The appropriate market research carried out for Kooler refresh will allow it to enter the market in a seamless way as the company understands the expectations on consumers aimed at to serve. Introduction New companies face numerous challenges when venturing into a new market, and for the launch into this market to be successful, it is vital that the company creates a brand for itself an in this case, Kooler Refresh.
Brand extensions are carried out by companies to leverage the equity built up in the established brands to launch new products that never have been their competencies in the past. Boush and Loken in 1991 argued that companies can utilize brand extensions by appropriately planning the organization structure, capital resources and ability of internal people keeping in mind the brand equity of the organization in existing markets and the corresponding expectations that the consumers shall have in the new markets keeping in view the existing perceptions about the organization.
Research has shown that prunes carry the image of being dried out, worn out, wrinkled, ugly, old-aged things used only as laxatives, and are a plebeian symbol without prestige. Consumers also hold images of institutions. Images of retail-store characteristics or personalities affect shopping behaviour.
Technically speaking, then, whenever a marketer creates a new name logo, or symbol for a new product, he or she has created a brand. It is important to contrast a brand and a product. According to Phillip Kotler (1984), a well regarded marketing academic, a product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want.
Competitive advantage, once a peculiar phrase written in the marketing textbooks as a “should do” recommendation, has become a “must have” requirement for success.
To be smart in the market requires companies to create further added
In modern markets, the survival of firms operating in all industrial sectors has become a challenging task. In this context, firms have to restructure their strategies in order to meet the demands of the consumers and the needs of their market.
HSBC Holdings Plc is a renowned multinational banking and financial service provider which is headquartered at Canary Wharf, London, United Kingdom. Although the retail banking giant was established by Sir Thomas Sutherland in the year 1865 but officially the brand
This is because most of its clients do not feel the urge to upgrade their iPhones each other year. The smartphone market is becoming increasingly crowded with several big competitors like Nokia, Samsung, Sony, and Blackberry. To stand out in the smartphone market, there are
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