One of the (many) reasons Coca Cola is so successful, is because consumers Trust the br and. They trust that it will refresh them and help them to enjoy a relaxing moment, probably in the company of friends and family. Trust in a company or br and is what makes people believe in it, makes them loyal to it and often willing to pay more for it than other similar offers.
There are no Br ands without Consumers
A famous, but anonymous quote says that
“There may be consumers without br ands, but there are no br ands without consumers”
In other words, unless people purchase what you are manufacturing, then however you package and br and it, it will not succeed. IPSOS MORI in the UK went even further, when they said that “There is little doubt that an organisation’s reputation is its most important intangible asset. Managed effectively, it can increase loyalty, commitment and support from a wide range of stakeholders. A strong reputation creates a positive halo around an organisation – generating a reservoir of good will as well as increasing the effectiveness of its marketing and communication activities.” In the case of Coca Cola, the br and is the company, and as such needs to abide by the same rules as br and building.
A great example of a great Br and
Coke’s recent promotion “the Coca Cola Friendship Machine” is a typical example of how well Coca Cola underst ands its consumers. This knowledge and underst anding comes not only from market research, but from all employees putting the consumer at the heart of their business. And they don’t just talk about how important their consumers are to them; they walk consumer-centricity day in, day out. They demonstrate it in their constant reevaluation of what they are communicating and how they are doing so.
Trust enables mistakes to be overcome more quickly
To be truly consumer centric takes work, but all (CPG) companies need to reevaluate how they are integrating their customers into everything they do. They need to start every decision or plan by thinking about their customers first and what they would like the company to do. Even when there are problems, recalls or disasters to face, customers are more likely to be underst anding and stay with a br and that is open, honest and transparent; a company that tells people what has gone wrong and how they plan to put it right.
Whether good or bad, today the web means that news is shared globally FAST; you can’t avoid it. Everyone makes mistakes but people – and companies – we trust admit it, learn from it and move on. Isn’t that what you want your customers, consumers and clients to believe you can do too?
For more ideas on building br and equity: https://www.c3centricity.com/home/engage/
This post was first published on June 30th 2011 on C3Centricity Comments