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Brand Extension - Essay Example
Pages 3 (753 words)
Brand extension Name College Course Date Brand extension Coke is one of the world's largest admired brands; it is non-alcoholic beverage and is certainly not a stranger to global marketing. It is now sold in more than 200 countries worldwide. Coke is one of the most recognizable brands on the planet and also owns a large portfolio of share market…
The product will be sharing the same similarities with coke because it will be in the same category of soft drinks. I will have to use this strategy due to the brand loyalty coke enjoys among the consumers, Coke is also far much better in terms of its awareness. This new product will appeal more to consumers because it has a brand name that has been tried and tested by consumers. There are also few risks associated with coke, it actually enjoys consumer’s confidence and this will help reduce the risks perceptions of the new product by the customers (Chien & Moutinho, 2007). In modern days, there are new products that are introduced into the market only to be declared unsafe for consumption few days later and this have created negative perception for new products by consumers. The new strategy therefore for branding new soft drink “meal coke” will sort out the negative perception by consumers because they attach no risk to coke. This imply that market is already taken care of because the consumers will be receiving product they have already tested and Coca Cola is catered for as they can increase their product portfolio and they have more control in the market they are going to perform in. ...
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