Your task here is to assume the role of a brand manager proposing a product extension to the Chief Marketing Officer (CMO) of your company. The brand you are extending is the brand you analyzed for your Assignment 2. The target market for the brand extension is one of the three personas you created for Assignment 1. Your report to the CMO will recommend one segment to be targeted from amongst the three personas, and justify your recommendation. Then, justify your recommended brand extension strategy and positioning to the target segment, plus how will it be differentiated from competitors currently serving that segment. Lastly, you should explain how you plan to develop the marketing mix for this brand extension to attract the consumers in your target segment. Your report will be in these main parts: • A section that explains your how you have ranked the attractiveness of the three potential segments and justify why you have chosen one of them as the primary segment to target. • A section showcasing how your understanding of your chosen segment’s characteristics. This understanding will be the foundation of your new product and brand extension strategy. • A competition analysis section that explains how the positioning strategy of your brand extension is differentiated and appealing to your target market. • A section that details the rest of the marketing mix of your new extension, e.g. its price, method of communication and delivery method (the 4Ps).
Assess how branding has increased in the last few decades. Think of a brand; analyze how the organization developed its brand equity. Assess the influence of branding on an organization’s IMC. The Concept of Branding paper • Must be two to four double-spaced pages in length (excluding the title and reference pages) and formatted according to APA style as outlined in the Ashford Writing Center. (Links to an external site.) • Must include a separate title page with the following: o Title of paper o Student’s name of Course name and number of Instructor’s name to Date submitted • Must use at least two scholarly sources in addition to the course text. • Must document all sources in APA style as outlined in the Ashford Writing Center. • Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center. Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.
Task Description Assessment 2 (practical assessment) and Assessment 3 (report) are related. Assessment 2 was the development and presentation of the two new product/service concepts for two competing brands based on customers’ reviews. Assessment 3 (report) requires you to consider one of the two new product/service concepts you developed for Assessment 2 and prepare the brand’s promotional plan for its? rest-year entry in the global market. The promotional plan should include: • competitive strategies based on Porter’s competitive theory/framework, • importance/performance framework, • BCG portfolio matrix analysis and • product lifecycle theory/strategy analysis. N.B.: You can use the importance-performance framework you developed for Assessment 2 and develop hypothetical data/? gores and construct a BCG portfolio matrix and a product lifecycle curve (PLC), and position against the competing brands. Place your new concept brand, which is about to enter the market, in that BCG matrix and on PLC to demonstrate your intended position and to formulate and analyses relevant strategies. You need to demonstrate the innovative and elective development of a new product/service concept and brand management strategies. Where applicable, data related to the BCG matrix, market share (if known), product life cycle (PLC), importance-performance framework etc. can be hypothetically developed. This is applicable if you do not? Nd relevant data in various secondary sources. In these cases, simply write “source: assumed and prepared for this assessment task only”. It is expected that the report will be based on the concepts, theories, tools introduced in this unit and your own research? endings. You are encouraged to include recent journal articles, published since 2013, and relevant theories and research? endings, where appropriate. Use of data and information from the Australian Bureau of Statistics, Austrade, relevant and authentic Web sites, textbooks etc. will enrich your report. You are strongly suggested to attend the lecture, tutorial, and discussion sessions. Please also follow the study resources available on the Moodle site and/or on the Web. Please remember that the data/information that is readily available on the Web or in other published resources cannot be ‘assumed’ for this assessment task. Please cite and reference relevant data and information, where applicable. Your examiners expect authentic citations/references using the APA referencing. Notes for your assessment task the word limit of this individual report is 2500 words (maximum) between the start of the introduction and the end of conclusion sections. The Executive Summary should be no more than 1 page in length. The assessment must be uploaded as a .doc or .docx? le (word? le). Use Times New Roman size 12 with a 1.5 line spacing. ________________________________
A Reflective Analysis is to be submitted at the end of the semester as this provides an avenue for the students to use theories, concepts, critical reflection in meeting the learning outcomes of the unit. The benefits also include the following: -
- Examine what you have learned and how you have learned it.
- Demonstrate how your thinking grows and develops over time
- Assist with making connections between what you already know and what you are learning
- Encourage you to become a reflective practitioner in your future career.
The Reflective Analysis may focus on the theories and concepts covered in the unit, the assessment tasks, the engagement and learning in class and outside class
Guidelines
Following each tutorial students are then to reflect upon key learnings of the discussions and document these through a Module Learning Log. This log is a narrative of the key learnings derived from weekly content and includes (but not limited to) the applications of theories, models and concepts, perspectives, readings, potential application to work or personal experiences, links to other areas being studied, etc.
MODULE LEARNING LOGS
- use the Module Learning Log template and write your reflections progressively for each week
- write your reflections based on the descriptions, process and implication on your learning points/ideas
- this should cover Online Lectures, Seminar discussions & presentations, Discussion Forums, Canvas and unit outline reading links, videos, etc.
- strive for 150 words for each section
- include in-text citations (and reference list) when extracting anything from an external source
- note that the Module Learning Logs (x 6) are to be attached with the Reflective Analysis assignment in ONE file
REFLECTIVE ANALYSIS - DUE MAY 17th (SUN) - 11:55PM
- consistently recording the Module Logs will assist in writing the Reflective Analysis
- learning points in each Module Learning Log will feed into this final assignment.
- there should be 4 themes outlined
- use ONE theme for each Reflective Analysis template
Overview of Assignment
To assess the application of the principles you have learned through the semester, you will be required to define and develop a brand and launch strategy for a fashion brand that you have created for yourself.
To ensure that your work can be applied directly to real life, your brand attributes, situations and budgets must be realistic e.g. based on the amount of seed capital you might expect to receive from the outset.
It is recommended that you work on this assignment in sprints, in conjunction with the learnings each week. This will enable you to refine your ideas throughout the semester, ensuring a strong final assignment submission.
In this written assignments, students will be expected to:
Introduce and define your brand
What is your brand/business concept?
Describe your market category and outline some of the market conditions relevant to your brand strategy
Why does the market need your brand?
Describe your brand’s goals using the CBBE pyramid.
Define your brand users.
Describe how each of your brand authors contribute to co-creating your brand (firms, users, pop culture and influencers).
Define your brand user segments.
Evaluate competitors.
Who are your direct competitors? What are they famous for?
What do you see as the biggest threats to your brand’s success?
How will you overcome these threats with your brand strategy?
1. How do you think Young & Rubicam’s Brand Asset Valuator relates to the Interbrand methodology
(see Brand Focus 9.0)? What do you see as its main advantages and disadvantages?
2.Pick a brand and conduct an analysis similar to that done with the Planters brand. What do
you learn about its extendibility as a result?
Presentation based on evaluation of customer feedback for developing a new product/service concept Task Description
The aim of this assessment task is to provide you with hands-on exercise for a new product/service idea development based on customers’ online reviews. You can choose any two products/brands that you want to work with for both Assessments 2 and 3.
Consider two competing products/brands, for example, Samsung Galaxy Note 10+ versus Google Pixel 4 or Apple iPhone 11; Canon versus Nikon entry-level DSLRs; or Garmin versus Fitbit or Motorola or Samsung Galaxy or Apple smartwatches; Uber versus Ola.
Alternately, you might like to examine new hotels that started in 2019/2020 such as in Perth The Adnate versus the Ritz-Carlton; in the Whitsundays the reopening after repairs due to cyclone damage of Daydream Island versus Intercontinental Hayman Island Resort; in Sydney the Sheraton on the Park versus Novotel Darling Square; in Melbourne Sagamu’s House versus Shadow Play by Peppers; in Brisbane Howard Smith Wharves versus the W Hotel Brisbane.
Note: Assessment 2 and Assessment 3 are related so read Assessment 3 before deciding on your product/service. You should check your chosen products/services with your tutor before starting your research.
As an entry-level new product consultant, you need to develop and present the following report to your Marketing Director (your tutor):
1. Using 10 customer reviews for each competing product/brand, list the product features and related feedback based on 2 competing products/brands x 10 reviews = 20 customer reviews. Reviews may be available on various Websites (e.g. productreview.com.au, Facebook, TripAdvisor, Trivago, Amazon, eBay and so forth).
2. Conduct a thematic data analysis procedure for the 20 customers’ reviews (you decide on which themes are important to the customer) and prepare two frequency tables for the themes identified in Q1 for both competing products/brands;
3. Using the themes you have identified and the customers’ feedback, prepare two “Importance-Performance frameworks” – one for each product/service. You will need to include the associated tables for each framework based on a five-point rating scale for the two competing products/brands (a Likert scale from 1= very poor to 5 = excellent). Important: please show all working out so that your calculations can be checked.
4. Develop and justify two new product/service concepts for the two competing products/brands based on your analysis.
Use the information gained above to prepare your PowerPoint presentation in a maximum of 15 slides. You will have 10 minutes (maximum) to present your findings in a face-to-face situation either in-class or via Zoom. Please ensure that your presentation includes relevant concepts, theories, tools, and models discussed in the unit. Please upload your PowerPoint slides via the Unit website in Moodle by the deadline.
For distance or online students: You will present in your Weekly Zoom session timeslot which is Tuesday night from 7 to 7:55PM AEST (Queensland time) at https://cqu.zoom.us/j/5375880343 in Weeks 8 (5th May, 2020) to 9 (12th May, 2020).
For face-to-face/metro-campus students: All in-class presentations should be completed between weeks 8 and week 9. Your local campus lecturer/tutor will schedule your presentation time and date. You will receive some brief feedback from your campus lecturer/tutor immediately after your presentation. Your campus lecturer/tutor is responsible for marking your assessment tasks; however, the marked tasks could be moderated by the unit coordinator.
If academic integrity is suspected to have been breached, your assessment will be forwarded to the appropriate once/authority for necessary actions. Please familiarize yourself with the University’s assessment policy and procedure, grading policy, assessment extension policy, late submission penalty, plagiarism policies and the like.