Much has been said about how important packaging is to any brand. This asset is more than just the element that allows the products that reach the final consumer to be kept safe and sound. In reality, it is an element that can tell a lot about the history of a brand and that, on more than one occasion, has become a cult product. Coca-Cola has shown it recently.
In principle, it is fair to acknowledge that, according to a study carried out by C Space 39 percent of consumers trust a brand thanks to the presentation or packaging that characterizes its products, so meeting their expectations can motivate a purchase decision.
Being more specific, at least in markets like Mexico, packaging is a factor to increase the value of a product. 69 percent of consumers in Mexico are willing to pay more for a product that has good packaging, according to the conclusions of the Packaging Study prepared by the Merca2.0 Research Department.
In the midst of this context, now a classic bottle of Coca-Cola has become the most expensive in the world after a person decided to pay close to half a million for it at auction.
The bottle in question was released in the middle of the 1988 Olympics, played in South Korea.
Of the packaging in question, which is considered one of the oldest sponsors of the sports fair, thousands of copies were sold and delivered; however, most of the pieces, as indicated by the Rarest.org portal, practically disappeared.
The truth is that a bottle of Coca-Cola from that edition appeared on eBay that was never opened and that kept the packaging that accompanied it, characterized by being made of cardboard and having the mascots of the Olympics of that year: A tiger that was dubbed “Hodori”.
This opened the doors for collectors to decide to look at their wallets and go for a practically classic Coca-Cola presentation.
These movements around the products of the sports brand, make clear two premises that any commercial firm should have on the radar. On the other hand, the legacy of a brand goes beyond how functional or innovative its products may be; while on the other, it talks about the value of the history behind any company.
We are talking about the brand’s intangible assets, which in the case of Coca-Cola have been able to capitalize more than once.
According to the ranking of the most valuable brands in the world, signed by Visual Capitalist, Coca-Cola is in sixth position, with an estimated value of $ 57 billion.
Although these figures have a lot to do with issues related to sales and income, the reality is that they are also the result of the firm’s heritage, which has been built throughout history thanks to a good management of the intangible resources of the same as are the reputation, the image or the brand experiences.
And it is that as indicated by Corporate Excellence – Center for Reputation Leadershipe, these assets that the brand cannot physically market but that are intrinsic to each of its products represent 80 percent of the total value of a company.