Brand Value Creation Plan: Coca-Cola's Goals, Stategies, and Tactics
Select a brand of your choice. It can be any brand in the world, but it should be relatively well-known and should operate on a global scale. In this assignment, you'll be describing how the brand creates value for it's company. This consists of three components: Brand Goals, Brand Strategy, and Brand Tactics.
A) Brand Goals
Monetary goals involve monetary outcomes such as net income, profit margins, earnings per share, and return on investment. Monetary goals are the primary performance metric used by for-profit enterprises.
Strategic goals involve non-monetary outcomes that are of strategic importance to the company. Common strategic goals include growing sales volume, creating brand awareness, increasing social welfare, enhancing the corporate culture, and facilitating employee recruitment and retention. Strategic goals are the key performance metric for offerings that have the primary function of supporting other, profit-generating offerings. For example, Amazon might break even (or even incur a loss) in making, promoting, and distributing its Kindle devices and yet view them as a strategically important platform for its retail business.
Portfolio position: Where does the brand lie within the overall brand portfolio? Do the goals of the specific brand (e.g. Jordan) differ from that of the superordinate brand (e.g. Nike), or organization?
B) Brand Strategy (how the brand creates value)
In marketing, strategy outlines a company’s choice of the target market in which it will compete and the value it intends to create in this market
5 Cs Framework
Customers are the current and potential buyers of the offerings furnished by the company and its competitors.
The customer value proposition defines the benefits and associated costs that the company’s offering aims to create for target customers. The customer value proposition answers the question:
How does the offering create superior value for target customers relative to the competitive offerings?
Who are the company’s target customers? Do they vary in their needs and behaviors? What are the opportunities and threats associated with these customers? Should the company continue to serve these customers?
Company the parent company, sitting at the top of the brand hierarchy
What resources must the company have in order to create superior value for its target customers? Does the company have these resources? Can the lacking resources (if any) be built/acquired within the time frame defined by the company’s goal?
Collaborators are entities that work or could potentially work with the company to create the offering, communicate its benefits, and deliver the offering to customers.
Who are the company’s collaborators? What are the opportunities and threats associated with these collaborators? Should the company continue to partner with these entities?
Competitors are entities with offerings that cater to the same customers and/or aim to fulfill the same customer need as the company.
Who are the company’s competitors? What are the threats that these competitors pose to the company? Are there any competitive opportunities that the company could take advantage of?
Context defines the environment in which the company and its competitors operate. This environment is defined by five factors: economic (economic growth, money supply, inflation, and interest rates); technological (the diffusion of existing technologies and the development of new ones); sociocultural (demographic trends, value systems, and market-specific beliefs and behavior); regulatory (import/export tariffs, taxes, product specifications, pricing and advertising policies, and patent and trademark protection); and physical (natural resources, climate, and health conditions).
What are the sociocultural, technological, economic, regulatory, and physical aspects of the environment in which the company operates? What are the opportunities and threats associated with each of these contexts?
C) Brand Tactics
Tactics refer to a set of specific activities, also known as the marketing mix, employed to execute a given strategy. The market tactics define the key aspects of the offering that the company introduces and manages in a given market, from the benefits this offering creates and how much it costs to how customers will hear about and buy it. The tactics logically follow from the company’s strategy and reflect the way the company will make this strategy a market reality.
*For brand tactics, select a single product that the brand offers*
4 Ps Analysis:
Price
How is the product priced? Is it priced the same way for all customers, everywhere, or are there different prices for different consumers/times?
How specifically, do consumers pay for the product (e.g. cash, credit card)
What pricing system is used (e.g. freemium, subscription)
Product
How is it branded?
What is the product and how is it used?
How does it deliver unique value to consumers?
What is unique about the product above and beyond competitor products?
Promotion
How does the brand communicate about it's product?
How is the product advertised and how do marketing campaigns focus on it?
How is it branded? (include brand logo, slogans, and other brand iconography)
How is the product brand related to the company brand?
Placement:
How do consumers buy the product? Private retail, outlets, online?
How do consumers interact with the product?
What is customer service (and refunds) like for the product?
Assignment Requirements:
3-5 pages, single spaced
APA References
Brand Value Creation Plan
Student’s Name
Institutional Affiliation
Brand Value Creation Plan
Brand: Coca-Cola
A) Brand Goals:
Monetary Goals:
Coca-Cola may use a variety of strategies to achieve its monetary goals. One way to increase net income is to expand market share. Equally, this can be done by expanding distribution channels, launching new marketing campaigns, or entering new markets. Another way to increase net income is to increase product pricing. Besides, this could be achieved by introducing new premium products or adjusting pricing based on market conditions and consumer demand. Reducing production costs and optimizing supply chain operations can help increase profit margins. Similarly, this can be achieved by improving production processes, reducing waste, or negotiating better supplier deals. Coca-Cola may also consider outsourcing certain production processes or moving production to lower-cost locations.
To increase earnings per share, Coca-Cola can consider share buybacks, which reduce the number of outstanding shares and increases earnings per share. The company may also pay dividends to its shareholders, which can increase investor confidence and encourage long-term investment. Notably, leveraging the brand’s strong reputation and global reach can help increase the return on investment. Coca-Cola has a well-established brand that is globally recognized, and it can use this to its advantage to attract new customers and increase sales. The company may also consider expanding into new markets or launching new products to expand its global reach and further build its brand.
Strategic Goals:
Coca-Cola can implement several key tactics to achieve these strategic goals. Firstly, Coca-Cola could conduct market research to better understand local consumer preferences and tastes in terms of expanding market share in emerging markets. Besides, this will help the company develop products that cater specifically to these markets, thereby increasing market share. In terms of increasing brand awareness, Coca-Cola can use a multi-channel marketing approach that leverages both traditional and digital media. For example, this can include TV, print, and radio advertisements, social media campaigns, influencer partnerships, and experiential marketing events.
To enhance the corporate culture and promote sustainability and social responsibility, Coca-Cola can implement initiatives that reduce its environmental impact, such as using recyclable packaging and implementing more sustainable production processes. The company can also support local communities and non-profit organizations that align with its values and goals. Accordingly, to facilitate employee recruitment and retention, Coca-Cola can invest in employee training and development programs, provide competitive compensation and benefits packages, and create a supportive and inclusive workplace culture that values diversity and inclusiveness. Besides, this will help attract and retain top talent and promote a positive work environment.
Portfolio Position:
Coca-Cola has diversified its product offerings over the years to strengthen its portfolio position. Notably, this includes the introduction of new beverages, such as sports drinks, juices, and teas, under the Coca-Cola brand name. The company has also acquired or invested in other beverage brands to expand its product portfolio and reach new markets. For example, Coca-Cola owns brands like SmartWater, Honest Tea, and Minute Maid. Accordingly, this has allowed the company to reach new consumer segments and increase its overall market share in the beverage industry.
In addition, Coca-Cola has also invested in research and development to innovate and improve its existing products and develop new and healthier alternatives. Besides, this has allowed the company to stay relevant and meet consumers' changing needs and preferences. The company has also made a significant effort to become more sustainable in terms of its operations and product offerings to appeal to consumers who are increasingly concerned about the environment and their health. Accordingly, Coca-Cola’s portfolio is strong due to its long history, global recognition, and diverse product offerings. The company continues to focus on expanding its market reach and increasing its profitability while adapting to changing consumer trends and demands.
B) Brand Strategy (how the brand creates value)
5 Cs Framework
Customers:
Coca-Cola targets a wide range of consumers, including adults and children, across various demographic segments. The customer value proposition of Coca-Cola is to provide a refreshing, high-quality beverage that is convenient and affordable. The brand aims to create superior value for customers by offering various product options, such as regular and low-calorie versions, and innovative packagings, such as cans and plastic bottles. The opportunities for Coca-Cola include increasing market share in emerging markets, tapping into the growing demand for health-conscious products, and leveraging technology to improve the customer experience. Threats to the brand include increasing competition from rival beverage companies and changing consumer preferences towards healthier drink options.
Company:
The Coca-Cola Company has a rich history that spans over a century and is known for its iconic brand and innovative marketing strategies. The company has successfully navigated the changing landscape of the beverage industry and continues to invest in new technologies and products to remain relevant and competit...