Brand Loyalty of Coke

Defining Brand Loyalty:

Brand Loyalty refers to the continuous process of a customer to repeatedly buy a
product of same brand rather than switching to other brands. In other words the
social and psychological attachment of a customer with particular brand is said to be
Brand Loyalty. Coke has massively developed its Brand Loyalty by providing value-
added services and personalized offerings.

Elements of Brand Loyalty

Personal Service
Brand loyalty exhibits the personal bondage with the brand. A customized service on
part of Coke, play a vital role in building personal bondage. Due to this a customer is
ready to go an extra mile to get the same brand product instead of switching his
choice. Special offers for loyal customers promote the word of mouth and bring
more & more referrals for brand.

Pricing
Pricing is the key marketing factor which is closely related with brand positioning in
market. Coke has adopted the different pricing strategies for different market groups
as right price for the right value of product is very important in brand loyalty. This is
because it must not only meet the customer requirements, but it has to give
something extra than expectations.

Value Added Services

With Value-Added Services, the brand adds value to the customer experience of
buying a product and pays back more than the expectations of customers. The
brands life is also associated with value addition. More the value Coke offers more
the brand grows and inversely it would decline to die if there is no value-addition. It
is important factor for sustaining Brand Equity as well.

Finance
Finance refers to the Revenues & Profits that comes with Sales. Coke beverages are
consumed all around the world with its massive amounts of sales. Coke is financially
sound to set the budges for future marketing to sustain the value-added services
with best price to maintain brand loyalty and brand image.

Impact of Brand equity

Customer Satisfaction
Customer Satisfaction is the core marketing objective. It is the measure of how well
the customer is satisfied with the offerings of Coke. The brand needs to exceed the
specified satisfaction goals of customers because the number of satisfied customers
and Customer satisfaction ratio highly affects the brand equity.

Customer Retention
Retaining a loyal customer is easier & more productive than finding more new
customers. The customer retention includes the first contact of customer with brand
to the entire life experience of brand produces, value-added services and offerings.
The products & services are not the only attributes for customer retention, but the
way customer is being served is also key feature to retention. Coke is retaining its
Market share with is distinctive customer focused strategies and flavoured products
for variety of customer needs.