BRAND AND BRANDING BMKT503

The Coursework Project: a Brand Audit

Seminar Leader: Darrell Kofkin Team Members: Maria Melnikova 12885701 Maria Mello 1529553 Anissa Bégin 1485070 Eleni Pantelopoulos 152977091 Hunter Taipas 152867161

Competitive Brand Audit Content Page: 1. Brand Overview…………………………………………………………………………………..… 2 1.1 Introduction to the Brand …………………………….………………………………….……..... 2 1.2 Brand History………………………………………………………………………….……..……. 2 1.3. The Brand Owning Organization………………………………………………………...…...….. 2 2. Brand Value Proposition………………………………………………………………...…..…… 3 2.1 Benefits…………………………………………………………….……………………….…...….. 3 2.2 Differentiation …………………………………………………….…………………..……………. 4 2.3 Positioning………………………………………………………….………………..………….….. 4 3. Current Brand Communications Audit…………………………………………………...……. 5

4. Category Audit………………………………………………………………………………...….... 6 4.1. Key Strategic Market Drivers for the Product Category…………………………………….….6

4.1.1 Political………………………………………………………………………..….............6 4.1.2 Economic………………………………………………………………………...………..7 4.1.3 Social……………………………………………………………………………….…….. 8 4.1.4 Technological…………………………………………………………..………………....8

4.2. Product Category Analysis…………………………………………………………..…………….9 4.3. Product Category Competitor and Substitute Analysis………………………………………. 10

5. Summary and Conclusion……………………………………………………………………….. 10 6. SWOT Analysis……………………………………………………………………………………...11 7. Key Recommendations…………………………………………………………………………... 13 8. References………………………………………………………………………………………….. 14

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1. BRAND OVERVIEW

1.1. Introduction to the Brand

‘Coca Cola is the world's favourite soft drink and has been enjoyed since 1886. Coke became the

ubiquitous symbol of American business in virtually every country around the world (The Coca Cola

Company, 2010). In a very crowded marketplace, Coca­Cola classic has become one of the best­known

global brands in the world by continuous innovation, successful brand building strategies and

understanding its customers’ needs.

This brand audit will concentrate on Coca­Cola classic / Coke that is the most popular carbonated drink,

a trademark of the Coca Cola Company in the US since 27th of March 1944. This report involves

competitive brand audit for Coca Cola classic beverage within The Coca Cola Company. The goal is to

analyse the company background, brand value proposition, current brand communications and category

audits by undertaking secondary research from existing, published sources using quantitative and

qualitative data.

1.2. Brand History

‘Coca­Cola’ was invented in the late 19th Century by John Pemberton as a medicine; afterwards the

recipe was bought by a businessman Asa Griggs Candler, whose marketing strategies led Coca­Cola to

its dominance of the world soft­drink market throughout the 20th century. In 1894, impressed by the

growing demand of Coca‑Cola beverage and the desire to make the drink portable, Joseph Biedenharn

installed bottling machinery in the rear of his Mississippi soda fountain, becoming the first to put

Coca‑Cola in bottles (World of Coca­Cola, 2012). Large scale bottling was made possible just five years

later, when in 1899, three enterprising businessmen in Chattanooga, Tennessee secured exclusive rights

to bottle and sell Coca‑Cola. The three entrepreneurs purchased the bottling rights from Asa Candler for

just $1. Benjamin Thomas, Joseph Whitehead and John Lupton developed what became the Coca‑Cola

worldwide bottling system (World of Coca­Cola, 2012). The Coca­Cola Company introduced reformulated

Coca­Cola in 1985, marking the first formula change in 99 years, the company’s intention was to refresh

its Coca­Cola brand within its largest market ­ USA. That firestorm ended with the return of the original

formula, now called Coca­Cola classic, a few months later (The Coca Cola Company, 2010).

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Coca‑Cola arrived in Britain in 1900, when Charles Candler brought a jug of syrup with him on a visit to

England. Later, in the early 1920s, it went on sale in Selfridges and at the London Coliseum (The Coca

Cola Company, 2010).

1.3. The Brand Owning Organization

The Coca­Cola Company is a beverage retailer/manufacturer, marketer of non­alcoholic beverage

concentrates and syrups (World of Coca­Cola, 2012). Founded in Atlanta in 1886, Coca­Cola grew

steadily from a local business to a multinational institution. The Coca­Cola Company has effectively

retained its brand relevance for over 130 years with the revenue hitting more than 25 billion dollars. The

Coca­Cola Company has around 400 brands in about 200 countries besides its namesake Coca­Cola

beverage (The Coca Cola Company, 2010). The company report of 2010 states that ‘Coca Cola’

beverage selling accounts to 78% of total company sales. The corporation produces syrup concentrate

and sells it to various co­firms worldwide who hold an exclusive contract with Coca Cola. The Coca Cola

Company manages the franchise distribution system from 1889. The Company owns its anchor bottler in

North America, Coca­Cola Refreshments. Muhtar Kent, current chariman of Coca­Cola, oversees

operations in Atlanta, Georgia which is the headquarters of the company. Its stock is listed on the NYSE

& is part of DJIA, S&P 500 Index, the Russell 1000 Index & the Russell 1000 Growth Stock Index (The

Coca Cola Annual Report, 2013). Coca Cola aims to be a preferred supplier to its customers, to deliver

superior financial results to its stakeholders and to provide its employees with a safe, healthy and

inclusive workplace (Coca­Cola HBC, 2006).

2. BRAND VALUE PROPOSITION

2.1 Benefits Coca­Cola classic offers functional benefits as well as emotional benefits to the consumer. The product’s

functional benefits are refreshing, thirst quenching, tasty, and a unique flavour. The emotional benefits

are about happiness, togetherness, refreshing, and optimism. Those benefits are common to all brands

of the company. Indeed, Coca­Cola’s mission statement clearly describes those benefits: “To refresh the

world ­ in mind, body and spirit, To inspire moments of optimism ­ through our brands and actions” (The

Coca Cola Company, 2010). The refreshing aspect of Coca­Cola stands for both functional and

emotional benefits. The sharing represents the togetherness. Coca­Cola launched the “Share a Coke”

campaign in 2013. “The world's largest beverage company has replaced its usual branding with 150 of

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the UK's most popular names. Each of these carried the hash tag #shareacoke to encourage users to

promote the brand online” (The Guardian, 2013). This campaign prompted “moments of sharing and

happiness for the brand within its core audience” (superbrands.co.uk, 2015).

Finally, Coca­Cola, which means “delicious happiness” in Mandarin (The Coca Cola Company, 2010)

emphasizes optimism and happiness being brought to its consumers thanks to one of the brand’s

promises: “Open Happiness”.

Picture 1

2.2 Differentiation

Coca­Cola classic is differentiated by its quality, brand image, and brand awareness due to the fact it is

the original and first version of ‘Cola’ drinks. Indeed, Coca­Cola formula is known to be the original recipe

of cola drinks. According to Coca­Cola Company’s website: “this new drink was something special” and

changed history. “Coca‑Cola has remained dedicated to offering quality drinks for every lifestyle and

occasion” (The Coca Cola Company, 2010). In addition, the brand image of Coca­Cola is favourable. It is

a universal brand and Coca­Cola qualifies itself as “the world’s most ubiquitous brand, with more than 1.6

billion beverage servings sold each day” (The Coca Cola Company, 2010). Coca­Cola’s red and white

logo is “recognized by 94% of the world’s population and the brand is recognized as the most valuable in

the world” (The Coca Cola Company, 2010). Its brand awareness is important to such an extent that

“Coca­Cola is the second­most widely understood term in the world, after ‘okay‘ ” (superbrands.co.uk,

2015). The fact that Coca­Cola is the original product of Cola drinks and has a strong brand image as

well as a strong brand awareness make it unique in its category and in the industry.

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2.3 Positioning

“Coca Cola has strategically positioned itself within the world soft drink market­ market leader in the soft

drinks category through on­going brand and product innovation” (superbrands.co.uk, 2015). It is the

world’s most popular quality soft drink. According to superbrands.co.uk, since it’s beginning, “Coca­Cola

has embodied values of happiness, opportunity, authenticity and togetherness, shaping the brand

through its 125­year plus history and spreading optimism to people across the globe” (2015). The brand

positioning is really strong and distinctive which is reflected by its brand awareness and brand image.

Eventually the brand’s Essence was summarized as “Open Happiness” which evokes all the brand

promises, that are about optimism, value and refreshing. Indeed this is clearly stated by the Coca­Cola

Company’s mission statement.

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Picture 2

Picture 1: This positioning map uses four direct UK competitors of Coca­Cola classic which are: Diet

Coke, Pepsi, Pepsi Max, Schweppes and Fanta. The two variables used to differentiate the

competition are market share and price. Market share shows the effectiveness of strategies used

based on total sales of the product. Price represents the

Picture 2: This positioning map uses four different UK competitors of Coca­Cola classic which are:

Pepsi, RC Cola, Mecca Cola and Sainsbury’s Cola. The two variables used to differentiate the

competition are the brand image and price. Brand image is determining in choosing soft drinks, as it

is the main factor of Coca­Cola success. Price helps to understand the link between brand image

and price.

3. CURRENT BRAND COMMUNICATIONS AUDIT

In the UK, Coca­Cola prioritizes public relations and two types of marketing communications’ channels:

digital communication, event marketing and sponsorship. Coca­Cola’s communication strategy is really

effective. Consumers have changed and become more informative using digital tools and wireless

technology to reach information. Coca­Cola uses mainly social media such as Twitter, Facebook,

Instagram and YouTube. Several successful campaigns were conducted. For example, one of the most

recent campaigns was the “Share a Coke” campaign. Coca­Cola ensures that consumers shared the

campaign across all channels by using the hash tag #shareacoke in social media which were Twitter,

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Facebook and Instagram. This was a real success “within six months of launching, there were 330 million

impressions on Twitter, with nearly 170,000 tweets from 160,000 users” (Superbrands.co.uk, 2015).

Picture 3

The other key marketing communication channel used by Coca­Cola is sport events and sponsorship

across the UK as well across the world, which supports the commitment of the company about

encouraging its consumers to a healthy lifestyle. For example, in 2012, Coca­Cola sponsored the London

Olympic and Paralympic games. The next action undertaken by Coca­Cola will be the sponsorship of the

2015 rugby world cup, which is reflected by rugby session for teenagers in East London.

Picture 4

4. CATEGORY AUDIT

4.1 Key Strategic Market Drivers for the Product Category In order to fully analyse the key strategic market drivers, a PEST analysis was used. A PEST analysis

stands for Political, Economic, Social, and Technological. The analysis assesses these four external

factors to better understand the macroeconomic environment surrounding the product (Pestleanalysis,

2013). For Coca­Cola, each of the drivers listed below are external factors within the economic

environment that influence the soft drink market (Makos, 2013).

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4.1.1 Political

The political aspect of these external factors focuses on how government regulations and legal factors

impact the business and trade environment surround the industry (Pestleanalysis, 2013). In terms of the

soft drink industry, sugar quotas in the EU affect Coca­Cola classic due to high levels of High Fructose

Corn Syrup/Isoglucose within its recipe, and therefore affects production levels. Additionally, the

implementation of workplace and human rights laws influence the way in with Coca­Cola is

manufactured. Below each factor is fully explained to better the understanding of the impact they have on

the industry.

In 2005, an EU Quota was made to limit production and intended to ensure equal agricultural

development across all territories. In 2011 an alteration allowed for more production, “in order to improve

the sector’s efficiency and competitiveness” (Smyser 2013). In the UK, isoglucose obtains less than a 5%

market share opposed to the US, which is more than 50%, which is a main factor as to why the UK recipe

of Coca­Cola does not contain isoglucose. It’s expected that in 2016/17 the sugar quota system will be

abolished and could affect the amount of production capable (Zimmer, 2013).

The culture of the Coca­Cola Brand has enforced Guiding Principles for policies and programs that

protect, respect and remedy (when needed) of Human Rights. The Guiding Principles are a global

standard for how businesses should have an adverse impact on human rights. A proactive approach was

taken to ensure the integration of these principles from the bottling partners to the communities of

operation. In 2011, Calvert Investments, Inc. announced that the company had met, “environmental,

social and governance criteria as a result of clear progress in labour and human rights” (Coca­Cola

Company 2012).

4.1.2 Economic

The Economic aspect of these factors focus on economic growth or decline, and how that specific

environment affects the industry (Pestleanalysis, 2013). Specifically for Coca­Cola, recent recession in

the UK has actually caused an increase in sales, due in part to their established reputation for quality and

taste. This element is fully described below to prove that the recession actually indirectly affected

Coca­Cola classic and helped lead to a successful year.

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During the recession, Coca­Cola had record­breaking sales passing 1 billion pounds for the first time.

Customers have shown that during difficult times they still choose a trusted quality and premium brand

such as Coca­Cola. Influenced by their long heritage and recent emphasis on their Open Happiness

campaign promoting optimism and happiness. Based on past experience, the importance of continued

investment in marketing and preparation for recovery has been proven to be beneficial (Coca­Cola Great

Britain 2010).

4.1.3 Social

The Social aspect of these external factors focus on how customers’ behaviours and needs help shape

the way the industry is perceived by their customers. This in turn affects how the company must position

themselves in the eyes of their consumers (Pestleanalysis, 2013). Coca­Cola, took the recent negative

press surrounding soft drinks and obesity and launched a more active lifestyle focused campaign, as

explained below.

Coca­Cola has recognized that soft drinks have previously been identified as a main cause of obesity,

while in reality it is a small contributing factor. Still, Coca­Cola wants to be part of the solution and has

made changes to encourage physical activity, and energy balance (Confino and Paddison, 2013).

1. Physical Activity: In promoting physical activity, they hope to get 1 million people active by 2020.

Coca­Cola is also a supporter of Olympic Movement and the Special Olympics along with partners of

Goals Soccer Centres and the National Charity, StreetGames (Coca­Cola Great Britain, 2010).

2. Energy Balance: In 2012 they signed a Responsibility Deal Calorie Reduction Pledge to encourage

reduction of calorie intake and have made calories more visible on packaging. Adverts have also been

created to highlight the importance of increasing energy levels to match calorie intake for an even

balance. Also, advertising to under 12s has been stopped (Coca­Cola Great Britain, 2010).

4.1.4 Technological

The Technological aspect of these external factors focus on how recent technological advancements

positively or negatively impact the industry marketplace (Pestleanalysis, 2013). The technological

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advancement of online marketing has allowed Coca­Cola, as part of the soft drink industry, to promote a

greener lifestyle. This is highlighted in the recent partnership with Tesco, explained below.

Coca­Cola has increased online marketing techniques to keep up with the rate of technological change.

In an effort to promote recycling, Coca­Cola and Tesco have partnered to create an online recycling

game in which consumers pledge, play and recycle for coupons or Tesco Clubcard points

(Marketingmagazine.co.uk, 2014). The initiative is to reduce Coca­Cola’s carbon footprint and help

customers to do the same in their home by engaging and educating them on fun, practical tips for

at­home recycling (Spary, 2014).

4.2 Product Category Analysis

Coca­Cola holds a market share of volume at 5.9 billion litres and value of 5.7 billion pounds (Mintel.com,

2013). From 2009, there was a 4% growth in the volume of litres consumed whereas the value seen an

11% growth in revenue. In the future it is predicted that by 2019 there will be a 3% growth in volume to

6.1 billion litres and 12% of value to 8.4 billion pounds (Mintel.com, 2012).

4.2.1 Subcategories

1. New Coke ­ In 1985 Coca­Cola announced that they were changing their original formula, which was

the first formula change in 99 years, after a consistent decline in popularity within the last 15 years.

Although the new formula had been successful in over 200,000 taste tests, 79 days later they

returned to the original formula after major customer disappointment and outrage, and a decrease in

sales (Conversations Staff 2012).

2. Coke­Life has a promising impact on market development and growth. Coke­Life ties into their

Responsibility Deal of promoting well­being and addressing obesity in the UK by reducing calories.

The product uses Stevia Leaf extract which will create ⅓ less sugar and calories than Coca­Cola

(Moye, 2014).

4.2.2 Changes/Trends in Market/Consumer Behaviour

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1. Sugar Threat ­ Sugar is a leading contribution to obesity rates that have raised health concerns and

lead to on­going calls for taxes on high­sugar foods. According to research, 25% of consumers are

drinking less CSD because 50% of them believe it contains too much sugar. Coke­Life is a promising

solution that can address this potential threat. (Mintel.com, 2012)

2. Weather ­ The weather has been found to affect sales of Coca­Cola. In 2011, there was a spike in

sales because it was a warm year (Mintel.com, 2012). There was a dip in 2012 because of extremely

wet conditions and in 2013 a spike due to a warm summer. The intended forecast for the summer of

2015 shows average, yet warm temperatures, which could point to a potential growth for the market

based on previous years (Accuweather, 2015).

3. Volume ­ A change to keep track of is the volume of the product. In 2014 the volume was changed

from 2 litre to 1.75 litre which may have a negative impact and affect take­home sales (Mintel.com,

2012).

4.3 Product Category Competitors and Substitute Analysis

4.3.1 Main Competitors

1. Coca­Cola ­ 24% soft drink market share, “Open Happiness” focuses on originality/ unique flavours

(Mintel.com, 2012).

2. Diet Coke ­ 17% soft drink market share, “Lighter Approach to Life” (Mintel.com, 2012).

3. Pepsi ­ 7% soft drink market share, “Live for Now” focuses on a more youthful approach (Mintel.com,

2012).

4. Pepsi Max ­ 7% soft drink market share, “Zero to Max” focuses on maximizing caffeine and low sugar

(Mintel.com, 2012).

5. Schweppes ­ 5% soft drink market share, “Cocktail Revolution” seen as being a drink of choice for all

summer occasions (Mintel.com, 2012).

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6. Fanta ­ 5% soft drink market share, focusing on the escape from the everyday mundane (Mintel.com,

2012).

4.3.2 Indirect Competitors ­ Current/Potential Future Threats

1. Sports and Energy Drinks ­ Seen as a threat during the recession because it was one of few to

experience continued growth. However the market has matured and sales growth is slowing,

decreasing its threat to the soft drink market. (Mintel.com, 2012)

2. Bottled Water ­ In July of 2013, there was a heat wave which rocketed bottled water sales. Bottled

water will always be seen as a threat because of necessity and having healthier benefits compared to

other beverages. (Mintel.com, 2012)

3. Own­Label Alcohol ­ During the recession consumers were looking for a more economical purchase in

beverages, spiking the popularity of Own­Label Alcohol. Many consumers’ re­evaluated “Own­Label”

products due to their known undercut of prices. Due to this, the reputation of Own­Label products has

been positively affected which leads to a potential threat for Coca­Cola. (Mintel.com, 2012)

5. CONCLUSION

In a current overcrowded soft drink market, Coca­Cola classic has become one of the best­known global

brands in the world by continuous innovation, loyal customer base and successful brand building

strategies. Coca­Cola classic emphasises on emotional benefits which is highlighted by their main brand

promise “Open Happiness” and all their advertising campaigns about sharing and happiness supported

mainly by social media and sponsorship of events. Through the proper management and analysis of the

key strategic market drivers identified through the PEST analysis, Coca­Coca classic has continued to

secure the top market share in the soft drink industry.

6. SWOT ANALYSIS

6.1 Strength

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1. Strong marketing, advertising and brand image. Investments in marketing and advertising make

Coca­Cola’s red and white logo be “recognized by 94% of the world’s population and also make

“Coca­Cola" the second­most widely understood term in the world, after ‘okay ‘”

(superbrands.co.uk, 2015). This strong brand image as well as a strong brand awareness give it

uniqueness in its category and in the industry.

2. Most extensive beverage distribution channel. Coca Cola serves more than 200 countries and

more than 1.7 billion servings a day. Also, the Coca Cola Company has a big bargaining power

over suppliers, as it is the largest beverage producer in the world. (Euromonitor International,

2013)

6.2 Weaknesses

1. Significant focus on a carbonated drink. This strategy works in short term as consumption of

carbonated drinks will grow in emerging economies but it will prove weak as the world is fighting

obesity and is moving towards consuming healthier food and drinks.

2. Negative publicity. The product fabrication is often criticized for high water consumption in water

scarce regions and using harmful ingredients to produce its drinks. (Euromonitor International,

2013)

6.3 Opportunities

1. Growing beverages consumption in emerging markets. Consumption of soft drinks is still

significantly growing in emerging markets, especially BRIC countries, where Coca Cola could

increase and maintain its beverages market share.

6.4 Threats

1. Changes in consumer tastes and concerns. Consumers around the world become more health

conscious and reduce their consumption of carbonated drinks, drinks that have large amounts of

sugar, calories and fat. In other words, the brand may suffer with a fall in popularity due to

changes in consumer tastes that may move towards a preference for healthier lifestyles.

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2. Water price and scarcity. Water is becoming scarcer around the world and increases both in cost

and criticism for Coca­Cola over the large amounts of water used in production. This may cause a

continuous decrease in Coca­Cola's gross profit and net profit margin.

7. KEY RECOMMENDATIONS

Coca Cola is a leading brand within the global operating corporation. On the soft drink market Coca Cola

classic has a strong image and brand portfolio. However, nowadays it is threatened by intense

competition and has to extend the marketing and innovation strategies to keep up the leading position. It

should continue putting more effort into marketing campaigns which were a success throughout the time.

Coca Cola has a strong customer loyalty which give it a benefit to try new things/tactics and get instant

feedback. It can be assured that Coca Cola will continue leading the the soft drink market for a long time

due to its historic monopoly progress, strong position today and experimental deliberated approach.

8. REFERENCES

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16. Superbrands.uk.com, (2015). Superbrands UK ­ An insight into some of Britain’s strongest brands. [online] Available at: http://www.superbrands.uk.com [Accessed 14 Feb. 2015].

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http://www.coca­cola.com/index.jsp, 2010 [Accessed 17 Feb. 2015]. 18. The Coca­Cola Company, (2014). Lower­Calorie Coca­Cola Life to Launch in Great Britain. [online]

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