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Corona Confectionery Egypt: At a Crossroads
Alexandria Confectionery & Chocolate Company (trading as Corona), led by chief executive officer Shady Farid, grappled with a post-pandemic downturn in sales, weakened brand image, and heightened competition in the chocolate, biscuit, and chocolate spread markets. Faced with an urgent need for revitalization, Farid contemplated strategic adjustments, with an emphasis on enhanced brand perception and consumer insights. To succeed, he had to leverage the company’s existing brand and market position and focus on targeted advertising and quality representation to reclaim market share and grow revenues. Farid focused on three product lines: moulded chocolates, the Bimbo brand, and chocolate spread. How could he leverage the company’s existing positioning and brand name to increase market share and revenues?