Table of Contents
UMKDCA-15-3 Brand Management- Developing brand extension strategy- Coursework Assessment Brief
Module Code: UMKDCA-15-3
Module Title: Brand Management
Submission Deadline: TBC
Assessment Component: A – Individual Business Report (75%) and Reflection (25%)
Assessment Weighting: 100 per cent of total module mark
Marking and feedback deadline (20 working days): TBC
N.B. all times are 24-hour clock, current local time (at time of submission) in the UK
Assessment Instructions
Part A – Individual Business Report (75% – 2500 words)
As a brand management consultant, you are required to develop a brand extension strategy (in
report format) for a business of your choice. You are encouraged to choose a brand within an
industry that you would like to or already work in.
ORDER A PLAGIARISM-FREE BRAND EXTENSION STRATEGY PAPER NOW
Your plan should include:
1) Introduction: this should introduce the report and its purpose, not just the key topics.
2) Brand Audit: this should include your analysis of:
a. Current market share and major competitors
b. How the brand’s products and services are currently marketed and branded e.g.
brand elements/assets and characteristics; product attributes, pricing,
communications, distribution policies; brand positioning, segmentation, targeting
3) Product/Service Idea: based on your analysis above, describe and justify why your
product/service is an attractive market opportunity. This should include an overview of
your product/service idea, target market, key competitors, and perceptual maps for the
category you are entering
4) Brand Proposition: based on the opportunity identified above, this should include your
unique selling proposition in the new category and how this is mutually supportive of the
brand values, brand personality, brand identity/assets
5) Brand Execution: This should provide an overview of your price, place, and promotion
strategies as well as discuss how these will support your brand values, personality, and
identity
6) Measurement: Suggest and justify appropriate brand measurement techniques for your
new brand launch.
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7) Conclusion: Draw out the main implications of your work
8) References
Your work should pay specific attention to how your existing brand equity and brand elements
can be leveraged to successfully launch a new brand extension.
Part B – Individual Reflection (25% – 750 words)
There are three parts to this reflection:
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Overall presentation (10%)
Reflection (25%)
A full marking criteria is provided below.
Formative feedback and support during the module
Formative feedback provides opportunities to reflect on your ongoing work and preparation for
your assignment. Opportunities will be provided during the weekly tutorial sessions to receive
formative feedback from tutors.
Further information about this assessment is available on the Blackboard site for this module and
includes:
The module handbook and the suggested reading list
Formatting
Please use the following file format(s) (Word or .pdf). We cannot ensure that other formats are
compatible with markers’ software and cannot guarantee to mark incorrect formats.
All work should be word processed in 12-point font Times New Roman or Arial and single
spaced.
The first page of your coursework must include:
• Your student number
• The module name and number
• Your word count
• The coursework title including the name of your brand and extension product
Word Limit
The maximum word limit for this coursework is 3250 words (Part A: 2500; Part B: 750)
• There is no +/- 10% on word count and anything after the maximum word count will not be
marked, in line with UWE Bristol’s Word Count Policy.
• In line with UWE policy, this word count includes everything in the main body of the text
(including headings, tables, citations, quotes, lists, etc.).
• The references, bibliography and footnotes (provided footnotes only include references) are
NOT included in this word count.
Referencing and Assessment Offences
Please ensure you reference all sources used when developing your assessment, using the UWE
Harvard system. Failure to properly reference your work to original source material can be
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grounds for the assessment offence of plagiarism and may result in failure of the assessment or
more serious implications. Further guidance on correct referencing is available on UWE’s Study
Skills referencing pages.
UWE’s Assessment Offences Policy outlines potential offences and it is your responsibility to
understand this policy and avoid potential offences. Details of what constitutes plagiarism and
how to avoid it can be found on UWE’s Study Skills pages about avoiding plagiarism.
Text-matching software (e.g. SafeAssign) is used to check every submission against other
submissions made at the same time, previous submissions to UWE and other universities, and
internet sources. We may also manually search for matches. When submitting your work, you
will be required to confirm that the work is your own.
It is an assessment offence to:
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Before submitting your work, please ensure that:
You have proof read yourS work thoroughly to ensure your work is presented
appropriately
You have addressed all the required elements of the assessment
You have referenced in accordance with the guidance provided
You have addressed each of the marking criterion
The submission is in the correct format
Final feedback and marks release
Students will normally receive marks and feedback on their submission within 20 working days
of the submission deadline (not including public holidays or university closure days). Any delay
in returning students’ work will be communicated by the module leader via Blackboard.
Feedback and marks for this module will be available by the date specified at the top of this
document. For further guidance on feedback, please refer to the module handbook.
Further guidance and support
There are a number of sources of support to improve your study skills, including:
• The UWE Library Study Skills pages – for online support and bookable workshops
• The Faculty of Business and Law’s Academic Success Centre for bookable workshops
• Guidance on using UWE’s Library.
Specific study skills pages relating to this module include:
• How to plan and structure your writing
• Writing skills
• Further research skills / techniques
• Report writing
• Reflective writing
• How to write critically
• English language support
For further guidance on UWE assessment regulations and terminology see UWE’s Academic
Advice pages.
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Personal Circumstances
If you are experiencing difficulties in completing a piece of assessment on time due to
unexpected circumstances (for example illness, accident, bereavement), seek advice from a
Student Support Adviser at the earliest opportunity. Appointments can be made via an
Information Point or online via the Student Support Pages.
Student Support Advisers can advise as to whether you should submit an application for
‘Personal Circumstances (PCs)’, how to do so and what evidence is required to support the
application. Further details on PCs can be found on the Student Support Pages.
The module leader cannot grant personal circumstances or extensions.
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Full marking criteria:
Brand Audit: Summarised
analysis of the key factors
identified through carrying out a
brand audit 15%
Product/Service idea,
Consumer Insight, and
Brand Proposition:
Appropriate models used to
identity a suitable gap in the
market, the target market, and
the brand proposition. 25%
Brand Execution: Proposed price,
place, and promotion actions in
response to proposition. 15%
Measurement and
Conclusion:
Recommendations on
implementation and control
of the proposed plan. 10%
Overall presentation 10%
Reflection 25%
70% +
Evidences excellent research
from a range of well referenced
sources and with excellent focus
on key and relevant information.
The student shows an excellent
ability to extract core information
11-15 marks
Excellent integration of
relevant models applied
effectively to the environment
and organisation to illustrate
market gap, consumer insight,
and brand proposition.
Compelling links built between
findings and proposition. 18-
25 marks
Excellent integration of consumer,
market and company data to
provide clear tactics which will
deliver the proposed strategy in
line with brand values, personality,
and identity. Demonstration of
excellent creativity within the plan
11-15 marks
Concludes with excellent
recommendations and
comprehensive proposal for
implementation and control
7-10 marks
Excellent presentation with
strong structure, extensive use
of UWE Harvard referencing and
consistently good spelling and
grammar. 7-10 marks
Excellent critical evaluation and self-
reflection skills showing strong
engagement with the course content, and
excellent understanding of the benefits
and limitations of the chosen tools and
principles. 18-25 marks
60-
69%
Good/very good integration and
summary of relevant, clearly
referenced, research material
from a good/very good range of
sources
9-10 marks
Good/very good integration of
relevant models applied
effectively to the environment
and organisation to support
consumer insight and
proposition, which links closely
to findings.
15-17 marks
Good/very good integration of
consumer, market and company
data to provide tactics which are
linked to the proposed strategy in
line with brand values, personality,
and identity. Demonstration of
good/very good creativity within
the plan 9-10 marks
Good/very good
recommendation which is
well substantiated.
Good/very good proposals
for implementation and
control
6 marks
Good/very good presentation,
structure, spelling and grammar,
effective use of UWE Harvard
referencing
6 marks
Good/very good critical evaluation and
self-reflection skills showing engagement
with the course content, and a sound
understanding of the benefits and
limitations of the chosen tools and
principles.
15-17 marks
50-
59%
Adequate/competent research
although not always referenced
or sufficiently focused in key
areas of relevance. Adequate/
competent summary of
situational information. 8 marks
Adequate/competent
integration of models, with
some application to the
environment and organisation
to support consumer insight
and proposition. Some links to
findings 13-14 marks
Adequate/competent integration of
consumer, market and company
data to provide tactics which are
linked to the proposed strategy.
Some demonstration of creativity
within the plan 8 marks
Adequate/competent
rationale for
recommendation. Some
consideration of
implementation and control.
5 marks
Adequate/competent
presentation, with clear structure
and some use of UWE Harvard
referencing. Some spelling and
grammar errors.
5 marks
Adequate/competent critical evaluation
and self-reflection skills which show
some engagement with the course
content, and some awareness of the
benefits and limitations of the chosen
tools and principles. 13-14 marks
40-
49%
Weak research and poorly
referenced. Mainly anecdotal.
Situational information
inadequately summarised or
confusing in places 6-7 marks
Weak integration of models,
with little application to the
environment and organisation
to support consumer insight
and proposition. Minimal links
to findings 11-12 marks
Weak description of tactics with
little or no reference to the
consumer relevance and weak
application of academic models. 6-
7 marks
Weak recommendations.
Weak consideration of
implementation and control.
4 marks
Weak presentation, some
structure and minimal use of
UWE Harvard referencing. Poor
grammar. 4 marks
Weak critical evaluation and self-
reflection skills showing weak
engagement with the course content, and
limited awareness of the limitations of the
chosen tools and principles. 11-12 marks
0-39%
Poor research; poor referencing
of sources; highly descriptive
and unconvincing. Situational
information not summarised.
0-5 marks
Academic models poorly used.
so discourse is based on
anecdotal information or
guesswork
0-10 marks
Tactical actions poorly used and
without reference to consumers so
discourse is based on anecdotal
information or guesswork
0-5 marks
Poor conclusion and
recommendations. Poor
consideration of
implementation and control
0-3 marks
Poor presentation, lacking
structure, referencing and depth
of content. Poor grammar.
0-3 marks
Poor critical evaluation and self-reflection
skills showing very little or no
engagement with the course content and
insufficient understanding of the benefits
and limitations of the chosen tools and
principles. 0-10 marks
The short video available on the library’s website will introduce you to some of the key features
of the online reading list system: http://www1.uwe.ac.uk/library/searchforthingsa-
z/databases/a-z/r.aspx#readinglists
Core Reading:
Rossenbaum-Elliot, R., Percy, L. and Pervan, S. (2018) Strategic Brand Management. 4th
edition.
Keller, K.L. (2013) Strategic brand management: building, measuring, and managing brand
equity [online]. 4th ed., Global ed. Boston, [Mass.]: Pearson.
Kapferer, J.-N. (2012) The new strategic brand management: advanced insights and strategic
thinking [online]. 5th ed. London: Kogan Page.
Additional Reading as suggested in the schedule above:
Aaker, D.A. (1992) The Value of Brand Equity. Journal of Business Strategy. 13 (4), pp. 27–
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Das, G. (2012) From brands in general to retail brands: A review and future agenda for brand
personality measurement. The Marketing Review. 12 (1), .
doi:10.1362/146934712X13286274424389.
De Chernatony, L. (1999) Brand Management Through Narrowing the Gap Between Brand
Identity and Brand Reputation. Journal of Marketing Management. 15 (1-3), pp. 157–179.
doi:10.1362/026725799784870432.
De Chernatony, L., McDonald, M. and Wallace, E. (2011) Creating powerful brands [online].
4th ed. Oxford: Butterworth-Heinemann.
Fournier, S. (1998) Consumers and their brands: Developing relationship theory in consumer
research. The Journal of consumer research. 24 (4), pp. 343–373.
Gensler, S., Volckner, F., Liu-Thompkins, Y. and Wiertz, C. (2013) Managing Brands in the
Social Media Environment. Journal of Interactive Marketing. Vol. 27. Iss.4 pp.242-256.
Greyser, S.A. (2009) Corporate brand reputation and brand crisis management. Management
Decision. 47 (4), pp. 590–602. doi:10.1108/00251740910959431.
Hofer, V. and Ladner, K. (2006) Positioning of new brands in an experiment. Central European
Journal of Operations Research. 14 (4), pp. 435–454. doi:10.1007/s10100-006-0015-6.
Keller, K.L. (1993) Conceptualizing, Measuring, and Managing Customer-Based Brand Equity.
Journal of Marketing. 57 (1), . doi:10.2307/1252054.
Lassar, W., Mittal, B. and Sharma, A. (1995) Measuring customer-based brand equity. Journal
of Consumer Marketing. 12 (4), pp. 11–19. doi:10.1108/07363769510095270.
Munoz, T. and Kumar, S. (2004) Brand metrics: Gauging and linking brands with business
performance. Journal of Brand Management. 11 (5), pp. 381–387.
doi:10.1057/palgrave.bm.2540183.
Nandan, S. (2005) An exploration of the brand identity–brand image linkage: A
communications perspective. Journal of Brand Management. 12 (4), pp. 264–278.
doi:10.1057/palgrave.bm.2540222.
O’Cass, A. and Viet Ngo, L. (2007) Market orientation versus innovative culture: two routes to
superior brand performance. European Journal of Marketing. 41 (7/8), pp. 868–887.
doi:10.1108/03090560710752438.
O’Reilly, D. (2005) Cultural Brands/Branding Cultures. Journal of Marketing Management. 21
(5-6), pp. 573–588. doi:10.1362/0267257054307336.
Ramaswamy, V. (2008) Co-creating value through customer experiences: the Nike
case. Strategy & Leadership. Vol. 36. Iss. 5 pp. 9-14.
Ramaswamy, V. and Ozcan, K. (2016) Brand value co-creation in a digitalized world: An
integrative framework and research implications. International Journal of Research in
Marketing. Vol. 33. Iss. 1 pp. 93-106.
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Reichheld, F.F. and Teal, T. (1996) The loyalty effect: the hidden force behind growth, profits,
and lasting value. Boston, Mass: Harvard Business School Press.
Ross, I. (1971) Self-Concept and Brand Preference. The Journal of Business [online]. 44 (1),
pp. 38–50. Available from:
http://www.jstor.org/stable/2351834?seq=1#page_scan_tab_contents.
Schmitt, B. (2012) The consumer psychology of brands. Journal of Consumer Psychology. 22
(1), pp. 7–17. doi:10.1016/j.jcps.2011.09.005.
Schmitt, B., Brakus, J. J. and Zarantonello, L. (2015) From experiential psychology to
consumer experience. Journal of Consumer Psychology. Vol. 25. Iss. 1 pp. 166-171.
Van Gelder, S. (2004) Global brand strategy. Journal of Brand Management. 12 (1), pp. 39–
7.Communication
Throughout your time with us, you will receive regular communication from your module
leaders, and also administrative staff. It is your responsibility to ensure that you read
everything that you are sent, and act upon it where appropriate.
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The main communication channel used is the Blackboard for all the modules you are currently
studying. Blackboard provides the main communication channel for module specific
information and these too should be checked regularly for new content and announcements.
Table of Contents
This task has made me want to develop a proper understanding of the aspect of brand extension as an important factor in developing a brand’s product portfolio. When I was starting this task, I was very confused about what I was going to write or how I had to go about it. I feel like I need to understand brands that give meaning to brand value as well as communicate to consumers all they need to know about a certain brand (Reast, 2005, p. 5). This has motivated me to do in-depth research on this area so that I will not get confused in the future especially in my future profession as a marketing manager.
Though I had little knowledge at the start, I have been able to learn a lot of things about brand extension and how branding is done when companies want to enter into a new market. I have come to learn and appreciate Akaka and Alden (2010) that the sources of brand equity in a company include proper labeling and packaging to create solutions that make a brand identity as well as promote products extensively in the marketplace. I think the reason why I face difficulties in this area because I lack real-world marketing experience which might be the reason for my lack of understanding of branding extension. Learning this will be very helpful to me in my future professional life especially during the beginning of my career.
Having a clear comprehension of the brand extension will help me to make informed decisions in the future. According to Gensler et al. (2013), a manager who understands branding management well can describe what is their brand and the impact of their brands on the consumers. This means that I will be able to gain more knowledge about my brand identity and brand personality and be able to launch new brands successfully in the future.
Though I have made a lot of progress since I started this task, I still feel like I should have done this before starting this report. I would have tackled this task easier if I had known more about branding and marketing. Everything became worse only because I did not give myself time to plan this task before starting it.
If I knew from the start, I should have made a lot of changes that would have made everything easy and effective for me. I should have asked my course mates and my lecturer to explain to me everything I needed to know to be successful in completing this task. If I had done this before, I would not have gone through all this trouble. I would have been prepared beforehand and such problems would not have come in my way. Every task needs early preparation for it to be successful.
I am going to put to use everything that I have learned using SMART goals to develop and improve my understanding of all the factors related to branding especially brand extension. Before the end of the semester, I plan to read three journal articles that relate to brand extension in different sectors, especially the major companies like Apple, Nestlé, Starbucks, and Pepsico. I also plan to prepare myself for real-life experiences through interviews and face-to-face conversations with experienced marketing and Branding managers so that I can know the popular and successful branding strategies they use and how effective they have been in the market. I will measure by comparing how I have been competent in these different strategies through a checklist that I will develop and complete after I am done with this assessment.
Akaka, M.A. and Alden, D.L. (2010) Global brand positioning and perceptions. International
Journal of Advertising . 29 (1), pp. 37–56. doi:10.2501/S0265048709201026.
Gensler, S., Volckner, F., Liu-Thompkins, Y. and Wiertz, C. (2013) Managing Brands in the
Social Media Environment. Journal of Interactive Marketing. Vol. 27. Iss.4 pp.242-256.
Reast, J. D. (2005) Brand trust and brand extension acceptance: the relationship. Journal of Product and Brand Management, 14(1), pp. 4-13.
Table of Contents
3. Coca-Cola’s New Product Idea. 4
6. Brand Measurement Techniques. 8
The success of a brand depends on the ability of a company to create brand awareness that results in the facilitation of efficient programs that provide simple solutions for brand merchandise. Brand extension is an important factor in brand management where a company introduces a new product into an existing market (Armstrong and Kotler, 2009, p. 243). Expansion into a different product line benefits a brand especially their sales (Aaker, 2006). Coca-Cola, an American-based manufacturer, retailer, and distributor of beverages and soft drinks has been successful in brand extension do the brand awareness of their hallmark (Coca-Cola Company, 2020). This report aims to introduce a new brand extension of Coca-Cola pizza.
Coca-Cola has secured a large portion of the market share over the years and became the largest beverage company globally. In the last quarter, the company’s organic revenue increased by 7% and 6% for a whole year (Coca-Cola Company, 2020). In 2019, the net revenue increased by 16% in the last quarter and 9% for the whole year (Coca-Cola Company, 2020). An increase of 10% was also experienced in the operating income for the whole year and for the last quarter; it was a 19% increase (Coca-Cola Company, 2020). For the non-GAAP, Coca-Cola experienced an increase of 23% every quarterly and 13% for the full 2019 (Coca-Cola Company, 2020). A growth of $0.47 in the quarterly EPS which indicates an increase of 134% was experienced (Coca-Cola Company, 2020). For the comparable EPS, a growth of 1% which makes it $0.44 was registered (Coca-Cola Company, 2020). For the whole year, EPS grew by 38% to $0.27 (Coca-Cola Company, 2020). In 2019, Coca-Cola’s cash operations were equal to $10.5 billion shibboleth means 37% growth. The free cash flows shot to $8.4 billion by 38% (Coca-Cola Company, 2020).
Coca-Cola is the most competitive beverage company with revenue of $33.5billion and a 3500 brand portfolio and other 16 major brands (Owler, n.d.). PepsiCo Inc. is the biggest competitor with revenue of $68.9B and a product portfolio of 22 brands (Owler, n.d.). Nestlé is another competitor with revenue of $85.6B (Owler, n.d.). Dr. Pepper Snapple is also a major competitor in the industry with revenue of $11.4B (Owler, n.d.). Dr. Pepper Snapple is the third largest beverage company with over 50 brands and other brands like juices, soft drinks, water, and beverages (Owler, n.d.). Another competitor is Danone with revenue of $27.7B (Owler, n.d.). Mondelez International also competes with Coca-Cola company with revenue of $26.2B (Owler, n.d.). The revenue of Krafts Heinz is $25.8B which gives it a position in the beverage industry (Owler, n.d.). Suntory is also a major competitor with revenue of $23.6B (Owler, n.d.). Red Bull, General Mills, and Unilever are other major Coca-Cola competitors with $6.5B, $8B, and $57.4B revenues respectively (Owler, n.d.).
Brand Personality/ Coca-Cola’s Current Marketing and Branding
Coca-Cola is the most recognizable brand with a powerful model that allows it to determine the success of its products. This brand has been ranked as the third most valuable global brand with a brand value of 81.6 million (Owler, n.d.). Its product portfolio includes Coca-Cola, Sprite, Fanta, Diet Coke, Coke Zero, Dasani, Minute Maid, Ciel, Powerade, Simply, Fresca, Vitamin Water, Honest Water, and NOS (Coca-Cola Company, 2020). The brand logo provides it with the opportunity to build its brand image. Coca-Cola’s promotion is focused on a sustainable environment campaign to bring back the bottle and fewer calories to meet the needs of health-conscious customers. Being the largest beverage company in the industry, Coca-Cola’s mission is to refresh the world and make difference through its various product portfolio (The Coca-Cola Company, 2020). The vision is to become the choice of drinks that people love (The Coca-Cola Company, 2020). The company has made its products to show a unique brand showing distinct brand attributes. Its trademark and logo symbols have been part of Coca-Cola’s current marketing strategy which has led the brand to choose the best packaging and labeling technique. Coca-Cola uses promotional strategies such as banners (Coca-Cola Company, 2020). Brand packaging depends on the products.
Coca-Cola is positioned third after Nestlé and it is the most powerful brand based on its market share and growth. The major segments are Europe, North America, the Pacific, the Middle East, and Africa. Coca-Cola offers products suitable for all irrespective of age, sex, or race. In terms of promotion, the brand focuses on adaptability, affordability, and availability (Coca-Cola Company, 2020). Coca-Cola’s marketing techniques are differentiated marketing with the promise to refresh consumers’ minds, bodies, and spirits and to inspire optimistic moments through value creation and making difference (Coca-Cola Company, 2020).
3. Coca-Cola’s New Product Idea
The new product idea will be the brand extension of Coca-Cola products to pizza. This is a good market opportunity because most Coca-Cola customers love to take Coca-Cola products with pizza and thus the brand will be able to expand its product portfolio. These products will include Buffalo pizza, Hawaiian pizza, Margherita pizza, pepperoni, meat, BBQ chicken pizza, cheese, and veggies (Coca-Cola Company, 2020). The source of this product will be meat, veggies, and crust style and the packaging will be cases and boxes. The target market will be youths 18-34 years, young adults 12-17 years, and older ones of over 35 years (Aaker, 2011). Factors such as culture where they associate pizza with the rich and urbancity who like luxury food will be considered. The major competitors will be Pizza Hut with a 29% market share, Papa Johns with a market share of 21%, and Dominos with a market of 50% (Owler, n.d.).
Coca-Cola will focus on a unique selling proposition which will include product quality, excellent customer services like a guarantee of delivery in 20 minutes, and product satisfaction. Quality pizza will be quality but also simple and innovative (Innovation, n.d.). This quality will be enhanced through high technology, timeless design, and tasty to provide the ultimate pizza experience. By setting up to deliver hot pizza within 20 minutes, Coca-Cola will be the only brand that guarantees delivery within 20 minutes or provide a regular free pizza voucher (Keith, 2004, p. 163). The brand will provide a guarantee for customer satisfaction and this will show that they are committed to delivering the best quality pizza as well as great service and value (Zmuda, 2013). The brand will guarantee hot, great taste, and fresh pizzas as they arrive at the customer’s doorstep. If not, Coca-Cola will replace the pizza or money refund to the consumer. For take away orders, Coca-Cola will promise customers they will receive their orders in 10 minutes or the brand itself will give a free individual pizza voucher for failure to give the order at the guaranteed time (Coca-Cola Company, 2020). The brand will also provide free pizza delivery. Customers will be able to save their time and fuel going to buy pizza at Coca-Cola stores. A unique selling proposition will also be attained by promoting the pizza in such a way that it attracts customers’ attention (Innovation, n.d.). This will create consumer affection by reminding them that they should ‘live the Coca-Cola pizza side of life’ (Coca-Cola Company, 2020). It will also remind them of the experience and memories experienced after eating Coca-Cola pizza. This will promote customer retention as they will remain positive and wait for the good Coca-Cola pizza experience (Coca-Cola Company, 2020). Customer retention will also be enhanced by introducing discounts. Lucky coupons will also be introduced to award loyal pizza buyers and for future purchases.
The Coca-Cola pizza brand will fill the major requirements of the value proposition. The brand’s value proposition will involve meeting the needs of the target market by ensuring that the product is always available around the consumers and better tastes to satisfy even the lower class consumers (Coca-Cola Company, 2020). The brand will also enhance the uniqueness of the Coke pizza through unique packaging crusts. The product will also ensure customer satisfaction by concentrating on customer lifestyle. They will encourage customers to try the new and refreshing pizza as well as train partners on how to provide the proper taste at a pocket-friendly price for many consumers. The brand will use one of its slogans ‘open contentment’ (Coca-Cola Company, 2020). This slogan will be designed to make consumers enjoy the new product. The brand’s value proposition will also be the “the Coke’s aspect of life” which shows the enjoyment of the customers when they open a box of Coca-Cola pizza. The “Coke part of life” slogan will also talk about the enjoyable, sociable, and comfortable environment when the customer eats Coke pizza (Coca-Cola Company, 2020). In general, Coca-Cola will implement a specific, consistent, and enduring message to the customers to enhance brand awareness and growth in terms of the new brand extension by satisfying customer needs as well as create a representation of happiness. To obtain brand equity, the brand labels its products using simple tags and complex graphics on the whole package (Worthington, Russell-Bennett, and Härtel, 2010, p. 250). This labeling design helps Coca-Cola to make it is brand identifiable and to promote the products in the marketplace (Mantoya, 2002, p. 179). This leverages Coca-Cola’s brand equity.
The prices will be set to meet the prices of the major competitors. The prices of Coca-Cola pizza will be the same as those of competitors so that the consumers perceive the new product as different and quality at the same time (Coca-Cola Company, 2020). The pricing of Coca-Cola pizza will be determined by factors such as the size of the pizza, the packaging design as well as other external impacts like elasticity of price, demand, consumers, and the branding objectives of Coca-Cola (Coca-Cola Company, 2020). Thus, for the Coca-Cola pizza, the company will quote a pocket-friendly price to extend the market size and leverage brand equity. Also, the pricing strategy will depend on the market and the geographical segment (Coca-Cola Company, 2020).
The Coca-Cola pizza will be ordered online from the brand’s website. The brand will also partner with food delivery sites as well as provide offers to its customers. The product will be available in different parts of the world such as Canada, America, the UK, and other parts of China, Europe, Asia Pacific, South America, Middle East, and Africa (Coca-Cola, 2014). Home delivery services will also be available for online customers with a time gap of 20 minutes or other scheduled deliveries (Semenik et al., 2008). The brand will deliver timely and high-quality pizza which will help achieve a high level of customer satisfaction and brand identity.
The brand will fascinate its customers with brilliant advertisements (Armstrong & Kotler, 2009, p. 400). For this product, the brand will use leaflets, television advertisements, and billboards to reach out to the customers. With this plan, Coca-Cola will be able to create a brand image that will influence customers’ psychology by using artistic designs and respected celebrities (Hofer and Ladner, 2006, p. 440). This promotional strategy will promote brand personality through attractive videos and product designs and labels by creating a vivid image in consumers’ minds (Smith et al., 2009). The advertisements will use the Coca-Cola red trademark color which will make the brand emotive and appealing. This will give potential customers the impression that those buying Coca-Cola pizza seem to be enjoying it. The promotion will also focus on the needs of health-conscious customers and fewer calories. In social media, customers will be advised to recommend friends to the Coca-Cola pizza (Coca-cola Company, 2020). This campaign will have a favorable impact on Coca-Cola pizza’s brand reputation.
This brand extension will increase Coca-Cola’s brand loyalty which arises from customer taste, preference, product, and price. Since Coca-Cola pizza will be also sold in retail, brand awareness will be improved because of the Coca-Cola trademark on the merchandise (Saul, 2014). The trademarks of the Coca-Cola brand will make the brand easily recognizable and accepted globally. Through the innovation of Coca-Cola pizza, the brand quality will be improved (Semenik et al., 2008). To make the brand successful, the Coca-Cola pizza will be distributed worldwide by Coca-Cola bottlers, Minute maid distribution system, and Fair Life LLC. The success of the brand extension will be measured by increased acquisitions and selling the pizza under new brand names.
The effective launch of this brand extension will enhance Coca-Cola’s increased market share and success in this competitive environment. Coca-Cola will also attain global brand loyalty and brand identity if this new product launch becomes successful because of the increased product portfolio. This brand extension will also help the Coca-Cola brand to increase brand awareness, brand recognition, brand identity, and brand relevance in the marketplace. This will also improve the brand image and reputation of Coca-Cola as a global brand. The brand will also get a response from consumers on product quality and consistency as well as enable them to identify new products they are interested in and want the brand to develop. Consumers will also be able to trust Coca-Cola pizza though the risk associated with buying it is high given that the brand has already been interested in the manufacture of soft drinks and beverages and not fast food.
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