This report explains the current value and potential target market of Cadbury Marvellous Creations, a brand extension strategy of Cadbury. The report uses survey, descriptive, and correlation research methods to analyze the brand extension strategy.
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Table of Contents INTRODUCTION...........................................................................................................................3 Current value of brand being extended............................................................................................3 Potential target market for brand.....................................................................................................4 CONCLUSION................................................................................................................................5 REFERENCES................................................................................................................................1
INTRODUCTION Brand extension is being referred to the one of the criteria that is dealt by every Organisation in order to move ahead with the operations that can bring about good revenue to the organisation (Ahn and et.al, 2018). Aim This report will bring about the onset of criteria where the organisation has extended its brand along with deriving the value and target market. Methods of research There are certain methods of nature research that are being portrayed in this report. To carry out the perception as well as the ideologies that are in regard to dealing with the brand extension strategy different methods that are used as follows: Survey research: to bring the essential components of the entire report a survey has been conducted in order to understand the organisational policies and the ideologies that are in regard to brand extension. The survey has brought about various speculations as well as the challenges that are identified as a part of brand extension. Descriptive research: with the effect of for descriptive research the characteristics that are observed as a part of information which is being collected as a portrayed in this report. Correlation research: the relationship between various components of the entire team is being portrayed in this particular research. The methods of qualitative and quantitative research are put forth on a combined basis to bring about the entire essence of the report. Results Current value of brand being extended The organisation Cadbury is said to be one of the most famous organisations that is best known for its chocolates. Cadbury company is mostly known to many people all around the globe. The products that are manufactured by the organisation Cadbury is said to be best known for those of children as well as people who love chocolates. The current value of Cadbury is said to be immense and it is also generating revenue that is more than required. It stands as one of the most reputed organisations by earning a good amount of sales as well as customer base. The products of Cadbury company are well known to people and mostly taken forth by many (del Barrio-
García and et.al, 2019). In this regard the brand extension that is in regard to the Cadbury company is Cadbury Marvellous creations. This is brought about by various speculations but the organisation as a complete extension of a Cadbury company. It has brought forth the products that are of great tasting in terms of defining the chocolate as well as the customers are also more towards taking its creation. The brand strategy that is maintained by Cadbury in this regard is most popular these days because the taste that is being ratified by the extension of this Cadbury company is brought about by a good customer feedback. Chocolate is one of the most favourite products for many people all around and the brand extension in regard to this particular entity has the enormous feedbacks that are being achieved. Based on the feedback the organisation is moving ahead in terms of developing their products and are also deriving the manufacturing units based on it. With all the reviews that are being attend it can be concluded that it is an exact brand extension strategy for the organisation that is standing as a unit criteria and five times more successful than the one that is being operated (Joshi and Yadav, 2019). Better results are derived from the logical extensions and therefore the companies are expanding their base into other countries with these formulations that can be suitable for various regions. The target market as well as the sales are also credible towards the brand Extension and in this particular entity the organisation is more into defining it strategies based on customer perception and ideologies. This particular brand extension is also more focused upon arriving chocolates as the means of its products and that is brought about by a good number of sales. The value that is created for this brand is said to be one of the most extensive mechanism because Cadbury has already been into a good reputation and this reputation has served to be one of the purpose for generating value for the extended brand. Potential target market for brand The target market is necessary for every Organisation in order to move ahead with the confidentiality terms. There are certain entities in the society as well as community that will have to be targeted in order to move ahead with the business orientation. The organisation will bring about the operational units as well as strategies that will have to imbibe certain potential that can derive the standards of the organisation. In this regard the target market will be one of the spectacular entity for every organisation to derive their sales as well as customer base (Kim, 2020). Observing target marketing based on the products that are being developed by the organisation and including marketing techniques as well as the campaigns that are necessary for
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people to understand the onset of criteria that are being dealt by the organisations a good amount of customer base can be generated full stops since Cadbury is one of the trendy organisation that is being developed and the research and development that is oriented in this regards is brought about by customer feedback as well as expectations. Bring about the onset of criteria and also reviewing the changes of confectionery market the organisation is moving ahead in terms of development. Inculcating all the policies of different tastes that are being ratified by chocolates this organisation has targeted over the youngsters as well as kids mostly that are more towards eating chocolates. Deriving their taste by the important formulations the organisation is moving ahead in terms of developing its products and also extending its brand to a next level (Javed and et.al, 2018). The extension of the organisation which is being a derived is aiming towards being the best by providing its target market the stipulated products that it has been manufacturing. Therearecertainefficientdistributionchannelsthatareseparatelyincorporatedbythe organisation to stay in contact with the market and also to move ahead with the organisational transactions as well as the potential. There are many advantages that are being derived by the organisation at times and the preferred brand is being accepted by many people in the communities. The target group in this regard which is the kids and youngsters are making a lot more purchases than the estimated amount and that is bringing about a good amount of sales for the company (Lithopoulos and et.al, 2021). In order to grow more in terms of reaching the target market the organisation is also into deriving the marketing techniques that are necessary for people to understand the value of products. Through this marketing the organisation has derived strategies as well as the mediums of advertisements as well as social media marketing that are necessary to target people. By the usage of social media the organisation has presented its product and also the pole that is created in order to know the user experience and the customer feedback is being ratified. This has been one of the essential steps in terms of target market and it has been successfully implemented. CONCLUSION The report concludes up on explaining the current value of brand that is being extended by the organisation which is chosen. It has also brought about various speculations that are in regard to the brand extension as well as the target market that is in this regard.
REFERENCES Books and journals Ahn and et.al, 2018. Luxury product to service brand extension and brand equity transfer. Journal of Retailing and Consumer Services. 42. pp.22-28. del Barrio-García and et.al, 2019. Do brand authenticity and brand credibility facilitate brand equity? The case of heritage destination brand extension. Journal of Destination Marketing & Management. 13. pp.10-23. Javed and et.al, 2018. What really matters? A triumph of brand extension: evidence from Engro Corporation. Journal of Politics Economy and Management. 1(2). pp.1-16. Joshi and Yadav, 2019. The study of brand extension among generation Y in the Indian market. International Journal of Indian Culture and Business Management. 19(3). pp.339-353. Kim, 2020. The influence of color on brand extension: Mediation role of processing style. Japanese Psychological Research. 62(4). pp.268-278. Lithopoulos and et.al, 2021. Exploring determinants of brand extension attitude to promote optimal levels of movement among children and youth. Journal of Social Marketing. Online Brandextension:[Online].Availablethrough:<BrandExtension:Definition,Types,& Examples | Feedough> 1