Essay on Successful Branding: Essential for Business Growth & Market Share

The marketing and branding efforts of a company are directly related to the sales the company will make as well as the market share it will have. A brand image which is positive is essential for the success of any business. The brand is more than just a name which is presented through the ordinary strategies of conducting advertisements. A brand of a company entails the total experience of the customers with the company as an entity as well as its products (Azad, 2012). Therefore a brand of a firm is a potent tool which helps a company to gain market leverage. When considering brands, Coca-Cola is one of the best considering the more than 130 years it has been in existence hence gaining a lot of experience in the market and gaining the confidence of its customers(Balmer 2003). The branding of the company is always lively, fresh, noteworthy and exciting hence catching the eyes of its clients. This superb form of branding has enabled the company to remain consistently popular for several decades. Good brand marketing and strategies cannot be separated from the financial impact the company will experience. For instance, the great branding of Coca-Cola has enabled it to control most of the market share in the soft drinks market for almost a century now (Barwise 1992). When a company has a large share of the market, it means that it is generating more revenue hence the increase in the profits of the company.

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According to Aaker, (2012); Broyles et al., (2011) the superb branding of the company contribute 465 of its market value which shows that branding is essential if a company has to remain in business. Studies have shown that the loyalty of customers towards a particular brand leads the customers to prefer buying from the retailer or company which they deem to be crucial. Therefore the different strategies that the company uses in its branding have reduced the cost of operating its business and have led to an increase in the profit margins (Pomoni, 2010). The branding by the company is one of the strategies it is using to make the customers to experience the shopping hence luring them to use the products of the company. The people are likely to change brands if they well manipulated by the strategies of marketing. With a good understanding of this, the Coca-Cola Company has consistently employed different branding strategies which are appealing to its customers (Lee, 2013). Though in some cases the market may be driven by the prices whereby the customers rush to the company whose products are cheaper; this is not always the case (Kurian, 2013). Branding and marketing have shown that though the products of a particular company might be cheaper, the customers may not be willing to buy them if it does not have a good reputation. This is the reason as to why the firm generates more income from its soft drinks than the other soft drinks companies whose products are cheaper. An integration of both the branding and marketing is the most effective strategy in increasing the market share hence increasing the revenues (Pomoni, 2010). Some of the branding and marketing strategies the company has used over the years include the following:

Consistency is the king. Though the marketing campaigns that are appealing to the eyes of the customers are important, consistent branding overrides them all, and the company has utilized this well. The firm has consistently created an imprint in the minds of the existing and prospective consumers hence making the company be ahead of the rest in the market share (Lindstrom 2006).

Broyles et al., (2011) posit that the brand over the product. The company does not put much focus on its products the way it has on its brand because it is fully aware that when the brand is strong, even its products will be preferred by the consumers (Ampuero 2006). The massive base of customers which it controls which have led to an increase in the sales; hence huge revenue is due to the fact that most people can associate with the company and its products. When it does branding it does not use complicated ways; instead, it sells a simple lifestyle which the majority of the people can associate with (Ailawadi 2004). The national brands which the company introduced have made companies such as Wal-Mart have a run for their money. The great branding of Coca-Cola has made the company take hundreds of new products into the market which are immediately accepted by the customers hence increasing its financial capability (Aaker 2001). One of the recent branding strategies which have continued to increase its financial base is the introduction of the herbal drink which was so appealing to the youth worldwide. Though the company used a substantial amount of money to launch the product, it is now generating millions of dollars per year (Aaker 2009). Therefore the strong financial base which the company has been enjoying for several decades can be majorly attributed to its good branding (Aaker 2012). Indeed it is not possible to delink the financial position of the company with its branding.

References

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Ailawadi, K. L. and Keller, K. L. 2004. Understanding retail branding: conceptual insights andresearch priorities', Journal of Retailing,80(4), 331-342.

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