When you put together money and time in building a brand, you have to ensure adequate brand protection for it.
Copycats can harm your brand reputation with poor quality and service that leads you to lose your market share.
If you love your brand, you need to protect it. Protecting a brand is vital to create strong brand equity.
Just like the steps Coca-Cola or better known as Coke, took to protect its precious brand via the intangible and tangible values.
The intangible values are the Emotional Selling Proposition (ESP) of Coke which indicates the emotional attachment of
consumers with the brand, whereas the tangible value is via protecting its Intellectual Properties (IP) that come in
the form of trademark, copyright, licenses, patents and more. |
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Sustaining Brand Equity |
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Coke has gone through many stages to be an exclusive brand that is protected and
well-known among its consumers. Its brand equity was further enhanced via
innovation and global expansion. Among the prominent figure in the Coke industry
who had the passion to nurture the brand was Roberto Goizueta, with his detailed study of every aspect of
Coke’s business. Selected as the President in 1980, he kept investing in
expanding Coke’s brand globally, giving people around the world a chance to see
Coke as a differentiated brand. With increasing brand awareness for Coke, the
brand became even more well-protected through its intangible values.
Among the
ways to create intangible values for brand equity include marketing initiatives
that created vibrancy. Firstly, Coke’s contour bottle with distinctive and
attractive packaging made it an international icon and it was also featured in
movies such as
The Gods Must Be Crazy, among others. With numerous brand placements
in the media, more people saw and recognised Coke as a thirst quenching brand
with a distinctive taste.
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Coke’s brand equity was also achieved via advertisements featuring celebrities
like Paula Abdul, Aiswarya Rai and Courtney Cox. The brand placements and
celebrity endorsements raised the value of Coke as it became the ESP. The
marketing initiatives continued with various
Corporate Social Responsibility (CSR) programmes in an attempt to approach
various target markets that include the young and old.
The tangible values on the other hand, via the IP protection, aided Coke to have
differentiated brand equity as the law prohibits any copy or reproduction of its
brand. This includes its trade secret which is a valuable part of Coke known as
the secret recipe that produces the drink. Only a few selected people within the
company know about it and special effort is taken in keeping it a secret. The
recipe is also patented as further brand protection. |
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Be Protected, Be Differentiated
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With consistent various marketing initiatives and product innovations every now and then, Coke knew it was important to have brand protection to build its brand equity. This is to ensure that no copycats will damage the brand while the Company continues to invest in the brand building efforts.
With its brand protected, Coke enjoys greater brand revenue as it expands the brand experience to all its consumers, and so can you. Protect your brand now to be differentiated among the other brands in the market to become even more branded, wanted and loved. |
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Get a refreshing perspective on Coke from consumers... |
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continue to read on BRANDchat |
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Disclaimer
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