Branding by comparing two competing brands

If you’ve had a really bad day (one of those “I wish I had stayed in bed days”), is there a product that always makes you feel better? How about at the holidays; does your family have favorite foods that you associate with all the good things the holidays mean to you? The firms that make those products certainly hope so, because it means they have been successful in creating a brand image that you associate with positive feelings or values. We don’t even have to eat that favorite food; just the logo or jingle can cause us to make those associations. But for every person that shares your love for Coke there’s one that won’t settle for anything other than Pepsi.

In this week’s discussion we’re going to continue our study of branding by comparing two competing brands.  In this discussion we hope to accomplish two things. First, demonstrate that you have grasped, and can apply, the basic concepts of branding. If you did not take your time with the Elder Care scenario this week you will find this very difficult. Second, apply those concepts to analyzing not just the brand image of a given product, but how that brand compares and contrasts with a direct competitor.

To begin, select a brand that you like. Describe the brand image of the product or firm and provide very specific examples of how they firm’s supports that image. Then, select a competing brand and compare and contrast the brand image of the second product to the first. Be very specific and provide detailed examples. You are encouraged to use your own experiences with the product in your discussion. Examples of ads or other promotional activities will be very helpful in evaluating how the firm supports the brand.

Module 6 Discussion: You want HOW MUCH for that bag?

You want HOW much for that bag?

Why can Prada sell a handbag for $2,000 that costs the firm a little more to manufacture than the $200 bag sold at a department store? At the other end of the pricing spectrum, why would a consumer goods company provide a coupon that makes their new snack product all but free? We learned in the Elder Care scenario that there are a number of pricing strategies firms can use to achieve their marketing objectives. Do they want to build market share, create a perception of exclusivity, or simply get you to try those new cookies?

Consider the product you are using for your marketing plan. How would you price it to achieve your objectives? Describe the pricing strategy you would use to introduce your product to the market, and why you selected that strategy over other options. Be very precise – you must use the correct terminology to receive ANY points.

Your analysis must include:

If your choice a long-term or short-term strategy?

What advantages or disadvantages do you foresee?

Suppose that sales are not meeting your objectives, what change might you make in your pricing?

Be sure to complete the Elder Care scenario and the exercises before you attempt to post. Posting is not available until you have completed the scenario. As always, college level writing is expected and your post should be a minimum of 300 words.

By the way, that $2000 Prada bag may seem like lot of money for a simple handbag, but it is not even close to top of the pyramid. For that, check out the Tanaka designed bag sold by Hermes for a staggering $1.9 million. Why not two?

Module 7 Discussion

Have you ever “liked” a company or product on Facebook? Participated in a company’s blog or posted pictures on their website? Do you and your friends have the next great commercial for Doritos? The snack food firm has turned user generated content into an advertising phenomenon. Their customer created ads are frequently among the most popular during the Super Bowl, and in many cases, have gone viral. User generated content is exactly what it sounds like, content such as blogs, videos, pictures, and tweets (among many other types) that are created and shared by ordinary customers.

Check out this ad that turned into an entire storyline for the firm that developed it and now has not only millions of views, but a following that waits for the next “episode” as if it were a TV series. Thousands have posted their comments, photos and shared the ad with other potential customers – the original in the series has hundreds of thousands “likes”. Not bad for stuff in a can…

https://www.youtube.com/watch?v=G4Sn91t1V4g

OK, your turn. Conduct a web search for examples of firms that have successfully employed user generated content; there are lots of great ones to choose from. If they can do it, so can you! How would you employ user generated content to promote, brand, and sell the product you are using in your marketing plan? Is mommy blogging for you? Photo contests? How will you create the “buzz” you need to launch your product? Describe your user generated content plan and why you selected one type of content over another. How will you get your customers to participate? What’s in it for them? Be specific and share at least one example of a firm that has used a similar strategy.

Your opening post should be at least 350 words and feel free to include photos and samples of the content. As always, college level writing and grammar are expected.

In your responses, critique the examples your classmates have selected and add your ideas for the product or brand.

Module 8 Discussion

Discussion: Developing an IMC Plan

While Maddie, Tess and Chris wrap things up with Elder Care let’s get you and your classmates started on this week’s discussion. You’ve already done the groundwork with the exercise in the scenario – now we are going to expand on what you’ve already done.

You will be playing the role of the marketing director for either EnviroCamp or Madison Pet Foods and targeting the consumer segment you selected earlier. You MUST use the combination of firm and segment that you have already selected. You will be developing an IMC proposal for the firm and target audience you selected.  Remember that Maddie recapped some of the important things to consider when you develop an IMC plan, including objectives, segmentation, branding and integrating different parts of promotion into your strategy.

Begin by telling your client what you hope to achieve with your IMC plan – these are your objectives – be sure they are SMART. Then, select at least three of the types of media listed in the scenario exercise. You do NOT have to use the same ones you selected originally, but you do need to stay in the same budget. Here they are below.

Advertising Personal selling Pricing Social media Sales promotion Brand image Direct marketing Dog bone Public relations Guerilla marketing

For each of the three, describe in detail what you will present to your client, including the theme of your message, which execution technique (slice of life, demonstration. etc) you will use and if you plan to use an emotional or cognitive approach to reach the consumer. For at least ONE of your media types, you must provide your client with a visual of some type, such as PowerPoint mockup of your ad or billboard, a screen shot your social media page or a storyboard.

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