They say that a king never loses his majesty, right? We can say this from Coke! After eight years, the company returned to the Top 10 of the most valuable brands in the world, according to the latest BrandZ survey by Kantar.
Coca-Cola was one of the 16 brands that managed to grow in value this year. In 2022, the brand of soft drinks was ranked 17th and rose to 10th in 2023.
see more
There are some dog breeds considered perfect for people…
Sweet news: Lacta launches Sonho de Valsa e Ouro chocolate bar…
The company is estimated to have seen an 8% increase in its value, rising from US$97.8 billion to US$106.1 billion.
Coca-Cola is a premium brand, says Kantar
Now, Coca-Cola has premium brand status with strong pricing power. The company has invested heavily in marketing its main soda – as well as its variants, such as Zero and Diet options. According to the website Marketing Week, the work was done to try to mitigate the increase in beverage prices.
John Murphy, the company's chief financial officer, said at the end of 2022 that Coca-Cola was working on consumer-facing marketing. The idea was for the company to start the following year on the right foot and with first gear, ready to accelerate over the next few months.
With its strategy, according to the publication, the consumer feels more “conformed” to paying for the more expensive product. That's because the company seems to be closer to its customers – and this has even helped the brand's growth, reported the company's CEO, James Quincey, in April of this year.
It should be noted that price increases are one of the company's strategies Coke to combat inflation.
The result? A net revenue growth of 5% compared to the previous year.
she is the standard
According to Adele Jolliffe, an executive on Kantar's Insights team, Coca-Cola “continues to set the standard” among cola drinks. After all, there are several available on the market, but it is always the brand most remembered and most desired by consumers.
“[Coca-Cola is] a good example of a brand that doesn't just rest on its laurels,” concludes Ellie Thorpe, Brandz Leader at Kantar.
Graduated in Social Communication at the Federal University of Goiás. Passionate about digital media, pop culture, technology, politics and psychoanalysis.
