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Case Study COCA COLA
Marketing management, polytechnic university of the philippines, recommended for you, students also viewed.
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Case Study: Coca-Cola: More than Just Sugar and Fizz
- How did Coca-Cola create value among its customers? Availability - Coca Cola created hub and spoke distribution model. A well-designed marketing strategy combined with a strong distribution network ensured that any customer looking for Coca-Cola products would be able to consume them. Affordability - introduced lower-priced products in low income markets Acceptability - were customized marketing strategies focusing on the target market ex. India , and were focused on youth as well as the experience of enjoying Coca-Cola products Trainings - Introduced training program which was used to train over 260,000 retailers on managing their shops, stocks, customers, and finances
How has Coca-Cola’s understanding of customer behavior shaped its marketing strategies?
Coca-Cola’s understanding of customer behavior shaped its marketing strategies by:
Catchy and Emotional Slogan- Changing slogans over the years and appealing to the youth, abstract feelings
Openness to what market wants - Produced drinks other than the “Coke” which are being offered by competitors – fruit drinks
Transformation – increasing health conscious market paved the way for “low” sugar content and smaller sized drinks
Develop a brand resonance pyramid for Coca-Cola India.
Brand salience is how often and how easily customers think of the brand under various purchase or consumption situations—the depth and breadth of brand awareness. High and deep brand awareness. Consumers think of Coca cola when thirsty, summer, and during celebrations. Brand performance is how well the product or service meets customers’ functional needs. Coca cola was able to meet consumer needs - affordability, availability (can be found in small stores), taste is unique and cannot be replicated Brand imagery describes the extrinsic properties of the product or service, including the ways in which the brand attempts to meet customers’ psychological or social needs. Associated with everyday lives – during meals, snacks, parties such as events, work or home. Brand judgments focus on customers’ own personal opinions and evaluations. Number one preferred carbonated drink especially in the Philippines. Brand feelings are customers’ emotional responses and reactions with respect to the brand. Happiness, family bond, social belongingness, celebration
Brand resonance describes the relationship customers have with the brand and the extent to which they feel they’re “in sync” with it. High consumer loyalty even with several choices of Cola in the market.
- Apply Aaker’s brand equity model to Coca-Cola India. What steps can the company take to sustain and grow its loyal customer base?
The Aaker model suggests that companies with brand awareness can use their visibility in a community to attract more customers, which can increase their revenue. This awareness can also help customers feel more comfortable with their decision to purchase products or services from a company.
- Brand Loyalty Brand loyalty is brand’s currency as defined in Aaker Model of Brand Equity. Higher loyalty helps firms to reduce marketing costs. Also, loyalty is something which cannot be copied overnight by competition and therefore gives time to the firm to respond to any move by competitors.
Offer loyalty cards, loyalty discounts to large retailers in delivering and making the brand available to even to the most rural areas in India.
- Brand Awareness This is the starting point of build brand equity. All other parameters come in next. Awareness help the brand to get into the consideration set while the consumer plans his/her purchase.
Promote other products of Coca cola by associating with coke product. Offering sales bundles of other products with “Coke”.
- Perceived Quality Perception with respect to the product gives an extra edge over the actual product features. However, perception till proved is of no use in the long run.
Taste consistency and unique taste.
- Brand Associations
The extent to which a brand name is able to ‘retrieve’ associations from the consumer’s brain.
Continue with advertising using “abstract” feelings.
- Other Proprietary Brand Assets – Patents Trademarks Channel Relationships
Secure updated patents and ran after and penalize those with fake products.
- Multiple Choice
Course : Marketing Management
University : polytechnic university of the philippines.
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