1.

INTRODUCTION:
Brand is logo, or identity of a particular product that adds different value to the product beyond its functional features. Main target of any brand is to create perception in customers mind regarding that particular brand which ultimately leads the consumers to buy that brand. Brand let the consumers to shop with confidence; it provides customer with a route map through a puzzling variety of choices, for this customer does not have to be an expert, brand name, tariff and payment method are enough for him to make a right choice for a brand (Tom Blackett, Brands and Branding)

COCA COLA:
In 1886 John Pemberton introduced the world with the new flavor of soft drinks and named it as to be Coca Cola (Heritage Timeline, Coca cola). It owns four of the five top soft drink brands and is marked as to be the no 1 soft drink company of the world. The company has also acquired many brands such as Minute Maid, Thumbs Up, and Fuze Beverages etc. Pepsi is considered as to be the major competitor of Coca cola however other local competitors include Zam Zam Cola, Mecca Cola, Breizh Cola, Big Cola etc (Coca Cola, Wikipedia). Coca cola is one of the re-known brands in the world, who is a leading manufacturer, distributor and marketer of Non-alcoholic beverage and syrup products. It operates in 200 countries having 400 different brands which produces 3000 different products in which major portion is of beverages. (Coca cola, Wiki invest). The mission of coca cola is to refresh the world, to create the value and makes a unique difference which tells how they represent their brand effectiveness. Company gives the clear message to its customers that one who drinks Coca cola inspires creativity, passion, optimism and fun (Coca cola).

2. BRAND VALUE
Creating a brand value is very important for managers today so that impact on their marketing decisions can be justified. Strong brands like Coca cola help Company to differentiate them from other in the market and to deliver strong message to its competitors regarding its brand valuation in the market (Professor Kevin lane Keller, Building strong Brands). From the past some years Coca cola is uniquely able to satisfy its customer needs and wants by delivering the goods and services they promise because brand is all about the commitment it fulfill.

Brand value of coca cola can be evaluated from a comment of financial expert that even with no tangible assets, coca cola would still be worth of around $67 billion (Paul Anthony, Economics, pg 218). When people drink coca cola the perception of taste and quality is built on customers mind. Brand value of company is established from a point when brand has a solid, reliable, and better taste than other products. Often there is a misconception about a brand that a brand value can be built through a clever advertising or company s attractive logo, but obviously advertising plays an important role in building a brand value and especially for the brands who have to differentiate themselves from their competitors like Coca Cola, advertising is the channel through which brand value is communicated to potential buyers, for coca cola advertising plays pivotal role to define its brand.

2.1.

BRAND VALUE PYRAMID:

Brand value of coca cola can be explained through a brand value pyramid which shows that functional and emotional benefits of the brand is very important to offer so that brand loyalty can be established (M.G. Parameswaran, Building a brand value, pg129)

This pyramid tells us about the power of brand association. The higher we go the more powerful the brand is, initially for a brand like coca cola it is important to build functional benefits for its customers, this perspective is from companies point of view and once it is met then it is important to build emotional relation with the customer which is the next step for a brand. It is important for Coca cola to relate the needs of customers on the emotional level so

that strong brand loyalty can be build up in long run. The largest beverage making company must focus on emotional side of the customer because due to new competitors in the market things have started to change for them and this can be evaluated from a latest news by guardian news paper that Coca cola has suffered the loss of $9 billion in the value of its brand, and is now ranked 16th in tops brands of the world (Coca Cola, Guardian Uk).

2.2.

MULTI DIMENSIONAL BRAND CRITERIA TO INCREASE BRAND VALUE:

Multi dimensional brand is an advantageous asset for any organization, and such multi dimensional brands just don t come in the market arena will full equipment. They serve the formidable time in the market and establish its brand value and then maintain the brand sustainability to earn reputed name in the market. The characteristics of multi dimensional brand can further be classified as. VARIED CONSUMER TARGETS: Coca cola can be regarded as a multi dimensional brand because this beverage is for all consumers for e.g. coca cola diet drinks is targeted for the consumers who are older in age so that their sugar level can be maintained. WIDE ARRAY OF CONSUMER BENEFITS: Coca Cola enjoys a rich state of both functional and emotional benefits for its customers. As far as functional benefit of coca cola is concerned it enjoys good taste and refreshment that s why people reaches for a coke, while emotional benefits of coke is the unique experience it gives to people, the trust factor and enjoyment it provides to its customers who opt for this brand. Such brand like coca cola develops a trust factor with their customers, so that user cannot even think of switching to other brands, Coca cola has developed their market beyond the initial value proposition to deliver the comfort and assistance to their customers on multiple points. IMPLICATIONS FOR MANAGEMENT AND STATEGY: Coca cola brand strategy reflects its brand value for e.g. if we consider diet coke Vs coke, as brand strategy of coke is to target various segment of consumers which reflects its wider spectrum of functional and emotional benefits. Coca cola brand succeeds by providing different sets of consumer s different reasons to buy coke, in contrast diet coke is a more inclined towards a uni-dimensional brand, it focuses more on mood states of consumer which is more limited as compared to original coca cola, and it translates the insight of consumers into a

loyalty towards that brand which ultimately ends in a brand growth (Core strategy, Understanding and Managing Multi-Dimensional Brand).

3. BRAND IMAGE:
Coca Cola Brand image is the coca cola s meaning or in other words it can be said that what coca cola is in the mind of consumers. Kotler s words can be applied here in terms of Coca Cola that act of designing the coca cola s offer and image so that it occupies unique and valued place in the target consumers mind . Brand Image is an important factor affecting Coca Cola sales. The name Coca cola is well known all around the world and it has maintain brand image for 125 years which has not changed but has excelled and expanded to newer technologies and newer medium of communication (Tony Meenagham, The role of advertising in brand image development, 1995) Coca cola s brand image is based on variety of associations that customers have made with it within span of time. According to research 5 personalities dimensions were notified which describes most of the brand image it includes sincerity, excitement, competence, sophistication, and ruggedness. These all dimensions show that each brand possesses some of the degree of each dimension. These dimensions can be understood by various examples. (Terence A. Shimp, pg 41) Sincerity: This dimension represents the brands whose image is perceived as being down to earth and honest for e.g. sincerity Disney has showed in its brand. Excitement: This dimension represents the brands whose image is perceived as being daring, imaginative and up to date, for e.g. Apple iphone, people where curious to know what is being offered to them and they were curious to buy this product as it is launched in the market. Competence: This dimension represents the brands whose image is being perceived as being reliable and successful for e.g. Toyota, people grade Toyota as being reliable and a successful brand in the market, this is the brand image given by Toyota to its customers. Sophistication: This dimension represents the brands whose image is being perceived as being highly rated for upper class and charming for e.g. Rolex can be counted as a highly sophisticated brand in the market. Ruggedness: This dimension represents the brands whose image is being perceived as being tough and hard fitted; in this case Honda can be regarded as for outdoor-oriented consumers.

In all these dimensions if we have to find how Coca Cola image is perceived by customers then we can say that it add taste of each and every dimension. This brand has high level of sincerity, the promise it delivers to customers, people are excited to buy coke because it provides unique experience to one who opt for this product. Coca cola is competent enough in the market and is highly ranked amongst all its competitors and companies adopt its marketing strategies due to its successful position in the market. It can be considered as a life style brand for the upper class people and sophisticated enough to maintain its status quo. Finally it is rated as the top beverage brand from quite some time and can be counted as a tough brand in the market as compared to its competitors.

REFERENCES
Tom Blackett, Brands and Branding, What is brand, 2004 Available at: http://www.brandchannel.com/images/Papers/What_is_a_Brand.pdf [Accessed on 30-042011] Coca Cola, Heritage Timeline, 2008, Available at: http://heritage.coca-cola.com/ [Accessed on 30-04-2011] Coca Cola, Wikipedia, 2010, Available at: http://en.wikipedia.org/wiki/Coca-Cola [Accessed on 30-04-2011] Coca cola, Wiki invest, 2009, Available at: http://www.wikinvest.com/stock/CocaCola_Company_(KO) [Accessed on 30-04-2011] Coca Cola, 2010 Available at: http://www.thecocacolacompany.com/ourcompany/mission_vision_values.html [Accessed on 30-04-2011] Professor Kevin lane Keller, Building strong Brands, Available at: http://www.csom.umn.edu/Assets/75894.pdf [Accessed on 01-05-2011] Book by Paul Anthony Samuelson, Economics [Accessed on 01-05-2011] Book by M.G. Parameswaran, Building a brand value [Accessed on 02-05-2011] Coca Cola, Guardian Uk, 2011 Available at: http://www.guardian.co.uk/business/2011/mar/21/brand-values-coca-cola [Accessed on 0205-2011] Core strategy, Understanding and Managing Multi-Dimensional Brand, Available at: http://www.corestrategygroup.com/?p=861, [Accessed on 03-05-2011] Tony Meenagham, The role of advertising in brand image development, Journal of product and brand management, Volume 4, 1995, pg 23-24 [Accessed on 04-05-2011] Terence A. Shimp, Advertising promotion, and other Aspects of Integrated Marketing Communication, 8th Edition, 2008 [Accessed on 04-05-2011]