The excerpts of the report, which were quoted by Coca-Cola South Africa head of marketing - sparkling beverages, Zayd Abrahams today at the Brand Summit, demonstrates how Coca-Cola stood the test of time and remained relevant and stronger more than 120 years after it was born. Reinforcing deep connection to the brand, operating quickly, flexibly and innovatively and tailoring itself to the local markets without tarnishing its legacy are the main strategies the Interbrand report says Coca-Cola used to keep its brand fresh and evolving since 1886.
With the business environment changing day after day, redefined by social media, Abrahams said the Coca-Cola brand - currently carrying a monetary value of US$70.4452 billion - has adapted quickly to these changing patterns, and continues to connect with families and friends and provides open happiness in all 206 countries of the world the company operates in.
Voted number one brand in the world by the Best Global Brands 2010 Interbrand report, Coca-Cola had 11 million fans on Facebook and some 96 385 followers on Twitter as of August 2010.
Ashantha Armogam, Grid Worldwide MD said developing an effective and sustainable brand takes time, as there are no instant answers. A commitment to a responsible process is imperative, she said, adding that a company needs to come up a unique methodology.
Armogam, whose company has designed brand logos such as Brand SA, Sandton City, Exclusive Books, Eastgate, African Bank, Airports Company of South Africa and Gem Diamonds, said design is not art but rather a commercial creativity. She cited four elements she described as critical to build an efficient brand-consumer relationship."Be fair and transparent and act with integrity," she urged. "Every opinion is valuable. You are never too old to learn."
The Brand Summit, which is currently taking place at the Microsoft SA headquarters in Bryanston, Johannesburg, is hosted by CompuBrand in collaboration with Microsoft Advertising, Consumer and Online and Kagiso Media.
Other speakers scheduled to address delegates for the rest of the day include Digital Mark's Attila Bernarlusz, Elan Lohmann of Avusa Media Live, InMobi VP and MD Stephen Newton, Nazeer Suliman of Microsoft SA, Voice of Wits manager Michael Smurthwaite and CompuBrand's Darren Naidu.
