To Investigate the Branding Importance in Food and Beverage Industry
TO INVESTIGATE THE BRANDING IMPORTANCE IN FOOD AND BEVRAGE INDUSTRY
Chapter 1: introduction
1.1 Introduction to branding in food and beverage industry.
Branding is one of the most dominant trends in global food and beverage industry which responsible for the market share of the companies. In this era of globalisation, major food and beverage companies operate globally and increased competition between the brands (Richter, 2004).
UK food and beverage industry now have multibillion businesses per annum and every company want to be part of its market as much they can capture. 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 – 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 PepsiCo’s slice, coke’s maza and Parle’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 won’t affect by the
Chapter 1: introduction
1.1 Introduction to branding in food and beverage industry.
Branding is one of the most dominant trends in global food and beverage industry which responsible for the market share of the companies. In this era of globalisation, major food and beverage companies operate globally and increased competition between the brands (Richter, 2004).
UK food and beverage industry now have multibillion businesses per annum and every company want to be part of its market as much they can capture. 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 – 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 PepsiCo’s slice, coke’s maza and Parle’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 won’t affect by the
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