I would like to take a closer look at the different brand elements. There are six criteria in choosing brand elements. The first three (memorable, meaningful and likable) can be characterizes as ”brand building” in terms of how brand equity can be built through the choice of a brand element. The other three (protectable, adaptable and transferable) are more ”defensive” and are concerned with how the brand equity contained in a brand element can be leveraged and preserved.
Coca-Cola is very memorable for consumers. In my article ”Coca-cola, what makes you strong” I come to the conclusion that the brand is so memorable and strong that it doesn’t even need to place their logo on the package for consumers to buy (and recognize) is. The brand name ”Coca-Cola” is meaningful in a sense that it stands for the ingredients of the drink. Furthermore, Coca-Cola is more than just a softdrink for many people. The brand elevated into emotional territory and made consumers feel good about themselves.
You can buy a Coca-Cola in about every country in the world. The regular Coca-Cola and Coca-Cola light are sold worldwide but they also offer other products in different countries such as Coca-Cola Life in Argentina and Coca-Cola Rasberry in New Zealand. The brand elements are flexible enough to be accepted everywhere. Therefore, Coca-cola is very transferable.
Coca-Cola began the Open Happiness campaign during the crises. They wanted to show the world that when you drink a Coke, you feel good. During the crises, when everyone spends less money, Coca-Cola managed to keep the spirits of consumers up.