“The only way to remain in business is creating brands. The moment we stop creating brands, the e-tailers are going to rule.” – Javier Meza, Global Chief Marketing Officer, Sparkling at The Coca-Cola Company
Many hypothesize that Millennials and Generation Z aren’t interested in brands, that they don’t see any value in them, but indications to the contrary are coming out more frequently—and they’re signaling quite the opposite. In fact, one major consumer products company is betting its future on a continuing focus on both its existing powerhouse brands and new brands in development.
That’s the case with Coca-Cola. The company has spent a century building its brand and would have more to lose than most if brands were to diminish in importance in purchasing decisions. So, it wasn’t surprising that in a recent interview, Javier Meza, Global Chief Marketing Officer, Sparkling at The Coca-Cola Company, came out quite strongly in support of branded marketing, including his comments at the beginning of this story.
“The moment people stop deciding they want a Coke, then Amazon is going to decide the brand they [will] have,” he says.
According to Meza, Coca-Cola hasn’t been afraid to test new brands while continuing to support its legacy labels. It divides brands into three categories: leaders, challengers and explorers. Different branding strategies apply to each.
For the lighting and home furnishings market, there is much to be learned from all of this. While brand names may not be as well-established in this sector as in other product classifications, the industry has some iconic names that have stood the test of time and remained best-sellers for generations. And, while soft drinks are very different than lamps, the parallels on the importance of brands remains relevant.
Bottom line? No matter the industry and whatever the brand positioning, Meza says the goal remains the same for everyone in marketing: “You need to build brands.”