Question

benefits of strong branding for coca cola . please illustrate the answers. 2-3 benefits will do . Please answer in essay form. Thank you

Answer 1

Every company dreams of having a market-dominating brand, it takes time, effort, and investment to build one. But the benefits of building and maintaining a strong brand are endless:

Coca cola is having good branding and here are some benefits for its strong branding.

A strong brand can help differentiate your products or services in a crowded market and coca cola is doing the same.

As we know a strong brand minimizes risk of commoditization by generating an emotional effect around a product or service, allowing for improved pricing power and coca cola is also having this benefit.

Coca cola can provide a foundation for operations. The brand becomes a common thread for decision making, which can yield improved morale and ROI.

Marketing, distribution and operational strategic partnerships can be a powerful competitive advantage and coca cola is having this benefit because of its strong branding.

Strong brand works to build customer recognition. This means when a customer is shopping for a particular product or considering a company to perform a service, they recognize your company in the running. Consumers are far more likely to choose a brand that they recognize over something unfamiliar, even if they don’t know a great deal about your company at the time and no doubt coca cola is having huge numbers of customers.

Coca cola can introduce new products easily : When you already have a strong brand and loyal customers, it is often easier and less expensive to introduce new products or test them out before you further invest in them. If you have a loyal brand following, your customers will often be interested in your new products and even anticipate them being released.

A good and well-known brand (coca cola)enhances your credibility with customers, your industry, and the marketplace as a whole. As you build your credibility, you also build recognition, loyalty, and competitiveness. Everything goes hand-in-hand, and you’ll find that your credibility has a direct connection to customers ease of purchase. We want to buy from companies we like, know, and trust. If your brand is credible, you’re far more likely to get the sale.