Chocolate maker Hershey is looking for growth opportunities, and has considered launching a few new products it has developed and acquired. Hershey has traditionally used blanket family brand names such as Hershey’s Milk Chocolate Bar, or individual names such as Mr. Goodbar, their chocolate with peanuts bar.
The brand elements chosen when building a brand should differ from those employed when defending a brand. List the criteria for building a brand and for defending a brand.
From the above scenario, specifically describe how Hershey’s actions would differ when building the brand vs. defending the brand.
Then, explain three general strategies for choosing brand names.
From the scenario above, give an example of how Hershey would use each strategy, giving specific examples using brand names.