Emerging, Developing, or Weak Brands: What to do? How to manage? - Essay Prowess

Emerging, Developing, or Weak Brands: What to do? How to manage?

This assignment considers an essential idea in the study of branding –the economic worth in establishing a brand.  And what does it take to be successful?

SSAY Question 1:  Kenko Rice Crackers: (See reading 9: Crackers)

Emerging, Developing, or Weak Brands: What to do? How to manage?

This assignment considers an essential idea in the study of branding –the economic worth in establishing a brand.  And what does it take to be successful?

Owning a brand does not mean having to manufacture a product.  This was discussed in class with the Luxottica example.  That example drew attention to the fact that luxury brands can simply license their brand names to Luxottica, thus gaining income simply for the use of their brand’s name.  Luxottica gained considerable profit in doing this and took steps to safeguard its advantages by making retail consolidations.

In the Kenko case article, the category is rice cracker snacks.  These are very popular snacks in several Asian countries, healthy snacks that appeals across age groups and offer new flavors.  Yet rice crackers are not well-established as brands in the U.S.  Some imported brands of this type available in certain specialty stores, and there appear to be an attractive opportunity in the U.S. to market rice crackers. 

In the case article, there are two possibilities: (a) manufacturing rice cracker snack products to sell to a private label retail company (such as Trader Joe’s), or (B) establish a rice cracker snack brand for the U.S. market.  The main question involves the feasibility of this goal of establishing a brand, and how to go about doing this.

Discuss this case and decide on a course of action.  First, summarize the pros and cons of each of these two possibilities, making a bulleted list of the pros and cons of each option.  Then, consider the views of Mr. Fuisaki and Mr. Canals, and discuss which option to take.  What is your strategy?  What would you do?  What is the most important measure to achieve success?

Quiz:

Do this quiz before the second essay question.  The questions are drawn from the posted readings on canvas.  These should be easy to answer, but cite the particular relevant readings in your answer by using either the article name or author name (for example, Kapferer 2012).

Is having a high number of consumers in Asia buying the same fashionable product a problem? Is the meaning for consumers doing this the same as it is in the West?
Do luxury marketers find it necessary to communicate to non-target consumers?
Explain the meaning of “the dream equation.”
What is invisible luxury? And what is the goal?
What does this mean: “de gustibus non est disputandum”? And what does this imply about this dimension of luxury value?
How does Classic luxury differ from Wabi Sabi luxury?
Why did Porsche, the luxury sports car of the 1980s in the UK and Europe, see its market share plummet?
When choosing among possible social-purpose strategies, what did managers need to need to consider for Vaseline?
Are online social networks the key to a community strategy for brands (and their ratification)? Is this simply how a marketers should support a brand’s community needs?
Do the “New Luxury” consumers consider transparency and social responsibility as important factors?

ESSAY Question 2:  Based on the Luxury Brand you talked about in class: MACKAGE

A.) Articulating Luxury: As noted in class and in the readings, the idea of luxury is defined by three distinct consumer groups.  Using the readings, define “luxury” –what this means for your chosen brand and the consumer.  Cite the posted articles on luxury to articulate and defend how your brand supports specific aspects of luxury.  Simply claiming that the brands sells what the company may claim is “high quality” products is not enough, all companies make this claim.

What information supports the specific value that you have articulated for the brand?  Discuss the three value components to assess what is the most important: the functional, the experiential, or the symbolic. 

B. ) Focus on marketing the brand to one specific current customer segment:

The Customer Segment and Product:  Describe a narrow customer segment that you would find attractive to sell your luxury brand, using each of the four factors.  Focus especially on the customer psychographics, but also include demographic, geographic, and behavioral descriptors.  In doing this, specify a product:  Selling a luxury branded fragrance for $100 is very different then selling an apparel item of the same brand for $3000.

Value Proposition. Describe the value proposition for the brand to this segment as a clearly worded statement of no more than 50 words  This statement should provide managers a means to guide messaging.  (The value proposition is what the brand promises to consumers. What values is primary to the segment?)

After doing this, explain the reasons for how this supports the brand’s value –would you be able to get the customer’s attention?  List the reasons that the message would build consumer support for your brand.  Is having a social purpose also necessary for luxury brands?

Classic Legacy or Fashion Relevance?  Classic brands often refer to heritage that is based in the past and may not be relevant or engaging to consumers.  Fashion brands try to be relevant and appeal to consumers based on what is happening now, but these may only appeal to few consumers.  The problem is that “legacy” and “being current” are opposed ideas.  Does your brand support these strategies?

Extra Credit Essay assignment: This is OPTIONAL

An article on Healthy Snacks is posted on Canvas.  Using this article, and the other snack food articles posted, discuss what is needed to market healthy snack brands.

Marketing practices adopted to promote healthy food and beverages are quite different from the practices used to market and sell hedonic products such as snack food and soft drinks. Explain why.
What did Bolthouse Farms do? Explain the issues.
Are the Bolthouse Farms’ advertising and promotion practices effective?
Could this approach be effective in changing snack food consumption in the U.S.? Why or why not?

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