2019 & COCA-COLA.
The most basic lesson to be learned from Coke is how to shift your competition from a subset of competing brands to the universal set of everything that your thirst intake is capable of. Coke is one of the biggest names in the marketing universe. It has come to the extent that it's no more a brand(what!).
Yes. Coke is no more a brand. It's an attachment, a feeling or rather an emotion of filling the blank space generated due to thirst. It has captured thirsty space in the subconscious mind of a human who's on earth.
Kevin Roberts from Saatchi and Saatchi mentioned the Lovemarks in his TEDx talk. It takes a lot for the company to show the ROI as Return on Involvement instead of the investment. The brands are driven by shareholders, investors, and employees. Lovemarks are always driven by their customers and are owned by the people. Loyalty is banked upon the trust that the product or the name has made in the minds of the customers. They no longer have to work to sell them, rather just to tell their customers how they value them. As Kevin mentioned in his speech, "Reason leads to conclusions, Emotions lead to action."
Brands believe in loyalty for reason but Lovemarks create loyalty beyond reason. And hence, they create mystery through storytelling(Coke is the king in it), sensuality (the taste of the coke is less irreplaceable and more irresistible), and intimacy(building the stronger bond).
But it's not that Coke has always been the best of the best, it has to face the wrath of its wrong moves sometimes. So impactful that now when a new product launch is a disaster, it is called the "New Coke" of its industry. Being aware of the fact of that CocaCola is the 2nd most recognized word, Coke tried to own 1st one too and did it by launching the "OK Soda" in 1993 which was discontinued after two years. The "Cap the Tap" campaign in 2010 was also publicly spanked after Coke asked to replace the water. (It's also quite interesting how to market yourself in the market as a water alternative without demonizing nature's most abundant and healthful natural resource.)
There is no endless smooth road in the market. You have to face the speed breakers but more important is whether you are keeping the pace to reach your destination on time and smoothly with the joy of riding.
Because in 2019, Coca-Cola today is not a drink, it's an emotion and a taste of opening happiness.
BCG | Unilever | IIM L | NIT B | Mentor
5 年Hello, Akash! While I respect your understanding of brands, I also believe that it is primarily flawed. Here's why: 1. Brands and emotions are not discreet. Infact all hedonic brands strive to build the strong emotional connect that you have talked about. 2. Coca-Cola has always defined its competition as all thirst quenchers. Remember "Thanda matlab Coca-Cola". It has always been outright in stating that. 3. Brands, today, want to deliver an experience to it's consumers. Hence the drinkable advert and also the shift from "open happiness" to taste the feeling. Coca-Cola, thereby, is very much a brand and a strong one. It's a love mark for consumers who promise loyalty beyond reason to Coke.
Also in the world of digital advertising, Coke has been leveraging its resources to come up with creative and innovative marketing campaigns like customised Coke bottles through its 'Share a Coke' campaign and creating first ever 'Drinkable Ad'. This article summed up Coke's journey as a brand pretty well. Made me look at the branding concept of 'Lovemarks' in more detail, so keep coming up with such concise & informative write-ups. https://youtu.be/IQovoot_ZUM
Customer Success @ SAP | Ex-Salesforce | XIMB | 6X Salesforce Certified | Trailhead Ranger
5 年Very well written
Product, Trust & Safety at PhonePe
5 年Nice work, Akash!?