Thursday, January 30, 2020
To Investigate the Branding Importance in Food and Beverage Industry Essay Example for Free
To Investigate the Branding Importance in Food and Beverage Industry Essay For that different existing companies develop branding strategy and introduce their new products using a well established brand name as leverage. To capture the market share of new segment, and get benefits of goodwill associated with their existing brands. For example Ã¢â¬â McDonald, pizza hut come in market with new meals with a specific name and it all offer accept by the customers as it have leverage of a strong brand name like pizza hut , McDonald etc. In beverage industry, also have different product with brands like fanta, Miranda, coke diet with its parent coke brand in compare to other beverage parent brand like PepsiCo with mountain dew, mist natural, Tropicana, slice Etc . and they all brands compete for different segment in market like PepsiCoÃ¢â¬â¢s slice, cokeÃ¢â¬â¢s maza and ParleÃ¢â¬â¢s frooti compete in same mango drink segment of market. 1. 2 Overview of food and beverage industry in UK As food and drink is a flourishing industry in UK, it is very mature and intensely competitive. It has impacts on the UK economy far beyond its significant contribution to GDP and employment. It provides various job prospects to the various youngsters in UK. Every other industry was affected economically in recession except food and drink sector which remains a major beneficiary amongst. Also the exports of food and drink items have been increased continuously from decades and wonÃ¢â¬â¢t affect by the recession. The industry achieves Excellency by producing significant number of new products, because of a remarkable Ramp;D centre, which keeps on spending a large amount on innovation. This project define about the branding in food and beverage industry and it show the different effect of branding on the customer, how a specific brand repeated by the consumers , this paper show the impact of branding on the market , organisation culture and the working style of employee within the company. In chapter 2, this paper will explain the Ã¢â¬Å"brandÃ¢â¬ in general with put the light forward on the related topics like- brand equity, brand image , brand loyalty , brand awareness, brand association etc, and allow the reader to understand the broad concept of the branding , its impact and importance in the industry. Then research product look in to the importance of growing a brand strategy for the products. Then researcher will propose and examine the case of different food and beverage companies focused on brand strategy. From the reading of the literature review and collected data analysis, reader will aware about a multinational food and beverage companyÃ¢â¬Ës brand importance and how much it influence its sales. Then researcher discusses the analysed data and identifies the problem areas and proposes the conclusion along with valuable recommendation for short out the problems to make the brand strong. 1. Research limitation Ã¢â¬â * Researcher selected the ambiguous topic which is very vast and difficult to the research on entire sectors, food and beverage sectors of UK deals in multiple chain like Ã¢â¬âretail, canned, service, processing, alcoholic, non alcoholic etc so this research only focused on the multinational retail food restaurant like Ã¢â¬â McDonald, burger king , and t he beverage serve in these restaurant(coke ,Pepsi etc) . this present research study is confined to only retail food restaurant alone and the finding may not be applicable for the other field of food and beverage industry.