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WARM-UP’ POINT
►Question/Answer session:
THEORY-1’ POINT
Brand
(1) Firms have recognized the power of brands for many years. One of the most fertile periods for the creation of great brands was the 1880s and 1890s, when the names of both Kodak and Kellogg first appeared in shop windows. Their inventors stumbled across a fact not fully recognized until much later: that two of the most powerful elements in a brand name are the guttural sound (and especially the ‘k’ sound) and alliteration (repetition of the same consonant). Think of Pepsi and Coke.
(2) Firms with international ambitions must be careful when inventing new brand names. For example, Brillo, a well-known British scouring pad, has a hard time in Italy. Brillo, in Italian, means sozzled (drunk). When Chrysler introduced its Nova car into Mexico it forgot that in Spanish no va means ‘it doesn’t go’. The company changed the name to ‘Caribe’ for Spanish-speaking markets and sales shot up. One of Ford’s new models turned up in the Mexican market as ‘Caliente’ – Spanish slang for ‘street-walker’! Such classic blunders show how important it is for multinationals to carry out extensive marketing research before they launch a new product!
(3) In general, Americans have been more successful at creating internal brands than anyone else. Of the ten most valuable brands in the world, as calculated by consultants of Interbrand in 2002, no fewer than eight were American. The exceptions were Nokia (in the sixth place) and Mercedes (10th). But even the most valuable brands can stumble if they do not remain sensitive to consumer tastes. When Coca-Cola, regularly at the top of Interbrand’s list, tried to launch a new formula for its main product in 1985 it flopped spectacularly, and consumers deserted the company in droves.
(4) When a firm introduces a new product or service into a market where there is little scope for further growth, that product or service will either eat into the share of the market’s existing products or swiftly disappear from sight. If some of the existing products are manufactured by the firm that is introducing the new product, then the newcomers will cannibalize the old timers; that is, they will eat into the market share of their own kind. For example, it has been estimated that two-thirds of the sales of Gillette’s Sensor razor came from consumers who would otherwise have been customers for the company’s other razors. Likewise for the company’s later blades - they provide cut-throat competition for each other.
(5) There are sound reasons for firms to want to do such a seemingly stupid thing. In the first place, they may need to keep ahead of the competition. In the chocolate-bar market in the UK, for instance, the decline in Kit Kat’s share was arrested by the launch of a new, chunkier bar, which undoubtedly cannibalized the market for the original. Its appeal was to all those people who buy chocolate bars, including those who bought the old Kit Kat.
(6) Firms may also choose to cannibalize their own products by producing marginally improved products. The idea is to persuade existing customers to purchase an upgraded version. This is true of the PC market, for example, where Intel’s newest, most powerful processor cannibalizes the last generation of Intel processors, but in the interests of arresting decline in the total market.
(7) In recent years, the idea of branding has stretched from goods and services to individuals. Sports stars, pop stars and film stars take careful note of what brands they wear and what these brands say about them. Many modern novels describe their characters more by their clothes and accessories than by their physical features or behavior. The brands have become shorthand for the character.
►Question/Answer session:
1. What did the inventors of Kodak and Kellogg brands stumble across? Think of other brands having the most powerful features in their names.
2. Why should companies going global be extra careful when inventing new brand names?
3. Why is it sometimes dangerous for a company to introduce a new product?
4. Think of some other examples of cannibalization.
Summarize the content of the text by using as many expressions from ‘Summary-1’ Point as possible. Be sure to check off or cross out the expressions you used while holding your show.
SUMMARY-1’ POINT
►Translate the phrases below into Russian and make them stick in your mind:
PUZZLE-1’ POINT
►Replace the underlined with the similar expressions from ‘Summary-1’ Point:
1. The company’s aim is to halt decline and improve their market share.
2. Unfortunately, the new brand has happened to become a shorter but a less clear way for a company to implement its newly adopted mission.
3. While reorganizing the company’s structure, the top management has finally found the only right way out of the present unsatisfactory state of affairs.
4. Inflation has soared, while productivity has dwindled.
5. Such an unfair market activity caused a lot of bankruptcies and mergers.
6. The introduction of a new marketing campaign helped the company leave all its competitors far behind.
7. The new slightly upgraded version of an existing product did not help the company survive; it bombed in a month after launching and all the consumers left the company.
PUZZLE-2’ POINT
►Consult a business dictionary and fill in the blanks:
brand recognition trademark brand’ value
brand equity (2) brand franchise (3) brand name
Well-known products acquire(1) _______________. When a brand has accumulated a mass of positive sentiment among consumers, marketers say that its owner has acquired (2) ________________ or (3)_______________, which measures the (4) _______________ to the marketer. It is an assessment of the investment a company has made in a brand. (5) _______________ measures the effect of this investment on the target market. When enough (6) _______________ is created that the brand has the ability to draw buyers (even without further advertising), it is said to have (7) _______________. A (8) _______________ comprises that part of a brand consisting of words or letters that humans can verbalize. A brand name that has acquired legal protection becomes a (9) ________________.
Explain the essence of ‘brand equity’ on your own.
THEORY-2’ POINT
Branding
(1) Originally, branding was the placing on animals (usually by burning) of an identifying mark. In a business context, branding refers to imposing on goods and services a distinctive identity. Philip Kotler, author of Marketing Management, a standard textbook on marketing, defines a brand as: ‘A name, term, symbol or design (or a combination of them) which is intended to signify the goods or services of one seller or group of sellers and to differentiate them from those of the competitors.’
(2) A brand represents the holistic sum of all information about a product or group of products. This symbolic construct typically consists of a name, identifying mark, logo, visual images or symbols, or mental concepts which distinguish the product or service. A brand often carries connotations of a product’s ‘promise’, the product or service’s point of difference among its competitors which makes it special and unique. Marketers attempt through a brand to give a product a ‘personality’ or an ‘image’. Thus, they hope to ‘brand’, or burn, the image into the consumer’s mind; that is, associate the image with the product’s quality. Because of this, a brand can form an important element of an advertising theme: it serves as a quick way to show and tell consumers what a supplier has offered to the market.
(3) A brand’s image is conveyed in a variety of ways, including advertising, packaging and the attitudes of employees. Branding bestows a number of benefits on goods and services.
· It reassures consumers about the quality of the product. This allows the producer to charge a premium over and above the value of the basic benefits provided by the underlying product. Consumers buy Coca-Cola not just because they like the taste, but because when it comes to colas, the Coca-Cola brand name is a well-known ‘guarantee’ of quality.
The ability of powerful brands to grab a bigger share of consumers’ wallets than lesser-known competing products can give them great value. When Philip Morris bought the Kraft food company in 1988 it paid four times the value of Kraft’s tangible assets. Most of the 75% spent on intangible assets represented the value of Kraft’s powerful brands. When Nestle bought Rowntree it paid more than five times the book value of Rowntree’s assets. Most of that extra (almost £2 billion) was the cost of Rowntree’s well-known names, such as Polo, Kit Kat and After Eight.
The confidence that consumers gain from a well-known brand is particularly useful when they do not have enough information to make wise choices about goods and services. Thus western travelers seek out global brand names when buying drinks and cigarettes, for example, in far-flung corners of the earth where they have no knowledge of the local produce.
Another area where this applies is on the Internet, where online shoppers are uncomfortable with the multitude of choices presented to them. In order to feel they are getting reliable quality and value, they often revert to familiar brands.
· It provides an enduring platform on which to develop other businesses. Brands have considerable staying power. Of the top 50 packaged goods brands in the UK, for instance, fewer than ten have been created in the past 20 years. New products can be launched under the same brand while old ones are gradually withdrawn from the market.
Changing the elements of a successful brand can be dangerous. When British Airways changed its tail-fin design in 1997, it was part of a gentle shift in the company’s branding. But the switch from variations of the Union Jack, with its nationalist overtones, to splashes of ethnic and abstract colors that were meant to convey a feeling of warmth, speed and (above all) of being part of a global community, backfired. Customers saw the new tail-fins as symbolic of a simultaneous deterioration in the airline’s service. By the end of the decade, the airline admitted the change was a mistake and pledged to revert to variations of the UK’s national flag.
(4) When a branded product becomes number one in its market category, it is called a brand leader. There are considerable advantages to being a brand leader. An American study found that brand leaders on average achieve dramatically higher returns on investment than secondary brands.
(5) When companies have a valuable brand they often attempt to stretch it by attaching it to other products and services. A classic example is the Mars chocolate confectionery brand, which has been successfully transferred to an ice-cream product with a similar shape and flavor.
(6) There is a theory, however, that brands can be stretched too far. The expectations that are built up in consumers by one branded product have to be delivered by all products bearing the same brand.
►Question/Answer session:
1. What does a brand represent? What is behind a brand?
2. What is the first benefit that branding bestows on goods and services? How does the confidence that consumers gain from a well-known brand help companies increase sales?
3. What is the second benefit that branding bestows on goods and services?
4. What benefits do companies gain from creating brand leaders and enjoying brand recognition?
Summarize the content of the text by using as many expressions from ‘Summary-2’ Point as possible. Be sure to check off or cross out the expressions you use while holding your show.
SUMMARY-2’ POINT
►Translate the phrases below into Russian and make them stick in your mind:
PUZZLE-3’ POINT
►Replace the underlined with the similar words and expressions from ‘Summary-2’ Point:
1. When we are dealing with a company’s accounting policy, it takes a lot of efforts and knowledge to avoid mistakes.
2. The name of a new product bears an implied idea that makes consumers think of feelings which are not at all its actual meaning.
3. The latest marginally improved product is so similar to the previous one that consumers can hardly tell them apart.
4. It is often quite difficult to make the brand stick to the consumer’s mind especially if it is not connected with an attractive image.
5. I hope that after the last crisis our company is not going back to the same ways of doing business.
6. Marks & Spencer recently hired model Kate Moss to introduce its new range.
7. Higher profits and higher risks usually go hand in hand.
8. The sales of Duo have dramatically declined, so Star Way has had to remove it.
TRANSLATION-1’ POINT
►Translate into English using the expressions from ‘Summary-1’ and ‘Summary-2’ Points:
Любая компания прежде, чем представить новый товар или услугу на рынке проводит широкое маркетинговое иследование. Это очень важно, поскольку существует опасность того, что новый товар может «поглотить» рыночную долю уже существующего товара (предшественника). Кроме того, любая компания всегда нацелена на то, чтобы опережать своих соперников. Иногда, компания представляет на рынке слегка улучшенную версию товара под брендом, который уже успел завоевать покупательскую приверженность и ассоциируется с высоким качеством. Однако, часто компаниям приходится инвестировать ресурсы в более прибыльные и новаторские товары для того, чтобы вытеснить конкурентов с рынка. Это стратегия позволяет привлечь как можно больше покупателей, создать свою клиентскую базу, завоевать свою рыночную долю и добиться очень большой отдачи от инвестиций.
THEORY-3’ POINT
Brand management
(1) Brand management is the application of marketing techniques to a specific product, product line or brand. It seeks to increase the product’s perceived value to the customer and thereby increase brand franchise and brand equity. Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with present and future purchases of the same product. This may increase sales by making a comparison with competing products more favorable. It may also enable the manufacturer to charge more for the product. The value of the brand is determined by the amount of profit it generates for the manufacturer. This results from a combination of increased sales and increased price.
(2) A good brand name should:
· be legally protectable
· be easy to pronounce
· be easy to remember
· be easy to recognize
· attract attention
· suggest product benefits (eg.: Easy off) or suggest usage
· suggest the company or product image
· distinguish the product’s positioning relative to the competition
(3) Brand rationalization refers to reducing the number of brands marketed by a company. Companies tend to create more brands and product variations within a brand than economies of scale suggest they should. Frequently they will create a specific product or brand for each market that they target. They also do this to gain precious retail shelf space (and also reduce the amount of shelf space allocated to competing brands). But this can be a very inefficient strategy so a company may decide to rationalize their portfolio of brands from time to time. They may also decide to rationalize their brand portfolio as part of an overall corporate downsizing.
(4) There are several problems associated with setting objectives for a brand or product category.
· Many brand managers limit themselves to setting financial objectives. They ignore strategic objectives because they feel this is the responsibility of a senior management.
· Most product level or brand managers limit themselves to setting short-term objectives because their compensation packages are designed to reward short term behavior. Short-term objectives should be seen as milestones towards long-term objectives.
· Often product level managers are not given enough information to construct strategic objectives.
· In a diversified company, the objectives of some brands may conflict with those of other brands. Or worse, corporate objectives may conflict with the specific needs of your brand. This is particularly true in regard to the trade-off between stability and riskiness (see Theory-4 Point below). The brand manager also needs to know senior managements harvesting strategy. If corporate management intends to invest in brand equity and take a long term position in the market (for penetration and growth strategy: see the next unit), it would be a mistake for the product manager to use short-term cash flow objectives (for price skimming strategy: see the next unit). Only when these conflicts and tradeoffs are made explicit, is it possible for all levels of objectives to fit together in a coherent and mutually supportive manner.
►Question/Answer session:
1. What is brand management? What is the core of brand management?
2. What are the main features of a good brand?
3. How can companies benefit from brand rationalization?
4. What are the problems associated with setting objectives for a brand or a product category?
Summarize the content of the text.
PUZZLE-4’ POINT
Fill in the table with various examples of real product or service reflecting the different levels of brand meaning. Choose one brand for one filling.
| Meaning | Description | Example |
| Attributes | A brand brings to mind certain attributes. | |
| Benefits | Attributes must be translated into functional and emotional benefits. | |
| Values | The brand says something about the producer’s values. | |
| Culture | The brand may represent a certain culture. | |
| Personality | The brand can project a certain personality. | |
| User | The brand suggests the kind of customer who buys or uses the product. |
THEORY-4’ POINT
Growth matrix structure
B.C.G. (this analysis was originally developed by the Boston Consulting Group in the 1960s) analysis or Growth Matrix Structure is a technique used in brand marketing, product management, and strategic management to help a company decide what products to add to its product portfolio. It involves rating products according to their market share and market growth rate. The products are then plotted on a two dimensional map. Products with high market share but low growth are referred to as ‘cash cows’. Products with high market share and high growth are referred to as ‘stars’. Products with low market share and low growth are referred to as ‘dogs’ and should usually be discontinued. Products with low market share but high growth are referred to as ‘question marks’ or ‘problem children’ or ‘wild cats’. The technique can also help companies think about the priority and resources that they should give to the different businesses in their portfolio. A ‘question mark’ has the potential to become a ‘star’ in the future if it is developed. A company should have a balanced portfolio. This implies having at least one ‘cash cow’ which can generate revenue that can be used to develop one or more ‘question marks’. This process is referred to as ‘milking your cash cow’.
Explain B.C.G. analysis in the form of a scheme or chart.
Team up with your classmate. Think of a well-known and familiar company with a wide product line (a group of related products intended to be used for similar purposes or be sold in similar types of shops) under a household brand. Rate these products according to their market share and market growth rate by placing each in the B.C.G. scheme or chart that you devised for ‘B.C.G.’ Point. Now with the help of the other teammates decide what products would you add to the company’s product portfolio and what ‘maneuvers’ would you follow to have a more balanced portfolio.
SHOW-1’ POINT
Nike does not sell sports shoes. IBM does not sell computers. Nokia does not sell mobile phones. Harley-Davidson does not sell motorcycles. Starbucks does not sell coffee. Club Med does not sell vacations. And Guinness does not sell beer. Then what do they sell and what do we buy?
Comment enthusiastically (!) on the given companies, using specific reasons and examples from your own experience, observations, or reading. Give a small talk. Use your initiative! And don’t hesitate to root for your performance by using visual aids.
THEORY-5’ POINT
Branding is simple. Branding is impossible.
An extract from Re-imagine by Tom Peters
(1) Branding is not about marketing tricks. It is about answering a few simple (and yet impossible) questions:
WHO ARE YOU?
WHY ARE YOU HERE?
HOW ARE YOU UNIQUE?
HOW CAN YOU MAKE A DRAMATIC DIFFERENCE?
And the most important WHO CARES? (DO YOU CARE?) (Starting point.)
WHO ARE YOU? (I really wanna know)
The top management of a Giant American Company invited me to speak with them. They had experienced a couple of decades of exceptional growth, and it seemed to be slowing. Employee morale, surveys showed, was slipping a bit, resulting in higher than usual turnover. Their formerly awesome customer service ratings were a bit wobbly. No, the world hadn’t come to an end, but it was suddenly (to them) ‘uncertain’. And talented, brass-knuckled competition with an investment cache to die for made the issue even more worrisome and urgent.
I studied like hell. Talked to customers. Talked to vendors. Talked to front-line employees. I had but three hours to spend with the Top 50, and my pride and professionalism insisted that I make each moment count. The first half was to be a presentation; I’d parade my ‘insightful’ PowerPoint slides for 90 minutes. Then we’d talk for the second half of the ‘show’.
As usual, I was suffering from pre-presentation insomnia. It was 4 a.m. The speech would begin at 7 a.m. And, yes, I had those slides ready … 127 of them. I thought. I fretted. And then I did something strange: I deleted 126 of the 127 slides. Just one remained. It read:
WHO ARE YOU [THESE DAYS]?
The company had made several acquisitions in the last half-dozen years. Though I’m publicly avowed enemy of most big acquisitions, I had no complaint with what this firm had done; each purchase had filled a gaping hole in its portfolio, relative to its most powerful competitors. But somewhere … somehow … the firm’s True Identity seemed to have slithered away, deep into the bushes. So I said: ‘You can have your fee back if you want, but we’re going to spend the entire three hours talking about ‘WHO ARE YOU?’
MISSION CONTROL: WHY ARE YOU HERE?
‘You can’t just go on forever floating on the tide these days,’ writes Danish marketing expert Jesper Kunde, ‘monitoring the competition and conducting surveys to find out what your customers want right now. What do you want? What so do you want to tell the world in the future? What does your company have that will enrich the world? You must believe in that. Believe so strongly enough to be unique at what you do.’
There’s more.
‘Some companies’, Mr. Kunde adds, ‘equate branding with marketing. Design sparkling new logo, run an exciting new marketing campaign, and voila – you are back on course. They are wrong. The task is bigger, much bigger. It is about the company fulfilling its potential, not about a new logo.
‘WHAT IS MY MISSION IN LIFE? WHAT DO I WANT TO CONVEY TO PEOPLE? AND HOW DO I MAKE SURE THAT WHAT I HAVE TO OFFER THE WORLD IS ACTUALLY UNIQUE? THE BRAND HAS TO GIVE OF ITSELF, THE COMPANY HAS TO GIVE OF ITSELF, AND MANAGEMENT HAS TO GIVE OF ITSELF. … TO PUT IT BLUNTLY, IT IS A MATTER OF WHETHER (OR NOT) YOU WANT TO BE UNIQUE NOW.’
I think that’s brilliant.
Branding: It’s about meaning, not marketing … about deep company logic, not fancy new logos.
THE BEST – OR BUST: HOW ARE YOU UNIQUE?
UNIQUE. There is no bigger word. None.
Unique means … SINGULAR. RIGHT? (And … PERIOD.)
‘Success,’ says Tom Chappell, founder of the personal care products company Tom’s of Maine, ‘means never letting the competition define you. Instead, you have to define yourself based on a point of view you care deeply about.’
Brilliant.
But even Tom can be upstaged. By … the man … the late Jerry Garcia of the Grateful Dead: ‘You do not merely want to be considered the best of the best. You want to be considered the only ones who do what you do.’
And the Grateful Dead were precisely that. They changed the world. (I am a fan, by the way. Not a Deadhead, but a sympathizer … to be sure.)
If not unique … WHY BOTHER?
IT’S THE LAW: HOW CAN YOU MAKE A DRAMATIC DIFFERENCE?
Dough Hall is an ‘idea guru.’ The idea guru (according to a 2001 Inc. magazine cover story.) A former P&G marketer, and now overseer of Eureka Ranch, he has guided big corporation team after big corporation team to stunning new product breakthroughs. Now focused on translating those ideas to the world of small business, Dough has written a wonderful and meticulously researched book, Jump Start Your Business Brain.
At the book’s heart are three ‘laws’ of ‘marketing physics.’
Law#1: Overt Benefit. What is the product or service’s ‘One Great Thing’? (One or two ‘great things’ is far better that three or more ‘great things.’ When you get to three or more … you just confuse the consumer. A ton of hard data support the point.)
Law#2: Real Reason to Believe. Does the organization Really and Consistently Deliver that ‘One Great Thing’?
Law#3: Dramatic Difference. The Hard Data Scream: Dramatic Difference in a product or service offering makes a very Dramatic Difference in Top- and Bottom-line Success. Alas, Hall reports, damn few (Very Damn Few!) execs get it.
Consider: A few hundred consumers are asked to evaluate a potential new product or service. They confront two questions: ‘How likely are you to purchase this new product or service?’ and ‘How unique is this new product or service?’
The consumers’ responses to those questions are intriguing – but not nearly as intriguing as the way the company’s top executives then responded to the survey. Execs - no exceptions in 20 years, per Mr.Hall! – give 25% to 100% weighing to results from the ‘intent to purchase’ questions, and a 0% to 5% weighing to the ‘uniqueness’ consideration.
WHO CARES? (YOU’D BETTER CARE!)
When Bob Waterman and I penned In Search of Excellence, the received dogma of the time had reduced ‘management’ to a dry, by-the-numbers exercise. Bob and I roamed the nation, looking at companies that worked, and we saw something else. What we saw was ‘soft’, by the Harvard Business School standard. It had to do with people & engagement in work & love of quality& entrepreneurial instinct & values worth going to the mat for. The ‘surprising’ Waterman-Peters mantra:
SOFT IS HARD.
HARD IS SOFT.
In other words: It’s the ‘numbers’ stuff that’s abstract and lifeless. (Hard is Soft.) It’s the ‘people’ and ‘passion’ stuff that moves mountains. (Soft is Hard.)
To our delight (and surprise), the world took note – not because of our scintillating prose, but because the competitive situation demanded it. Our ‘wild stuff’ has now become commonplace:
Engage your folks.
Make things that are cool and that work.
Stick your neck out.
This is all a long-winded way of saying that … PASSION (aka EMOTION, aka CARING, aka DRAMATIC DIFFERENCE) … has finally become recognized as the Staple of Successful Business. Not a poor second cousin to the ‘quant stuff’ that business school still strives on. Not an ‘option.’
►Read the extract, make a short talk titled ‘Re-imagining Branding’ and be sure to keep to the following guidelines:
· Harley-Davidson’s ‘It’s not the destination, it’s the journey’
· Nike’s ‘Just do it’ or ‘More go’
· IBM’s ‘Solutions for a small planet’
· Nokia’s ‘Connecting people’…
Think of other examples from your own experience, observations, or reading. Use your initiative! And don’t hesitate to root for your performance by using visual aids.
GRAMMAR’ POINT
►The example below is taken from ‘Theory-5 Point’:
They had experienced a couple of decades of exceptional growth, and it seemed to be slowing.
►Translate the example into Russian and explain:
1. Is it correct to replace ‘to be slowing’ with ‘to slow’ without a change in meaning?
2. Can ‘seem’ be replaced with another word without a change in meaning? What are other words that can be used the same way?
3. What are the differences, if any, among:
· Our sales turnover seems to be slowing.
· Our sales turnover seems to have slowed.
· Our sales turnover seems to have been slowing.
►Translate into English using ‘Grammar Point’ and ‘Summary Points’:
1. Кажется наши продажи резко возрасли.
2. Видимо наши основные конкуренты представили на рынке новый товар.
3. Похоже, что за последние месяцы компания Maersk получает существенно высокую прибыль от капиталовложений.
4. Аудиторы заявили, что при проверке финансовой отчетности за текущий год, они натолкнулись на целый ряд серьезных недочетов (нарушений).
5. HealthWatch, крупная фармацевтическая компания, заявила об изъятии с рынка (снятии с продажи) лекарственного средства Anticanceron в течение предстоящих двух недель.
WWW.1’ POINT
Tom Peter says: ‘BP (British Petroleum) is re-imagining itself, establishing a Dramatic Difference within its industry (and irritating many of its competitors in the process) by Going Green. While many are justifiably skeptical of this move, I believe that this Green Thing is very real, and very potent.’
►Go to www.bp.com and other web sources to make a short competitive benchmarking, the comparison between BP’s standards and those of other buoyant companies involved in the modern oil industry and explain what Tom Peters means by ‘Dramatic Difference’ along the three ‘laws’ of ‘marketing physics’ by Doug Hall (see ‘Theory-5 Point’). Show how BP’s mission statements – a vision of the direction and purpose of the organization - address the following important questions:
WWW.2’ POINT
Richard Branson, Virgin Group founder: ‘The idea that business is strictly a numbers affair has always struck me as preposterous. For one thing, I’ve never been particularly good at numbers, but I think I’ve done a reasonable job with feelings. And I’m convinced that it is feelings – and feelings alone – that account for the success of the Virgin brand in all of its myriad forms.’
►Go to www.virgin.com and other web sources to get insights into the Virgin brand created by Maestro Extraordinaire Richard Branson. Make a heartfelt talk on The Ultimate Value Proposition of BRIGHT RED VIRGIN MAGIC. ‘Branding is ultimately about nothing more than heart. It’s about passion,’ says Branson. So let your presentation reflect the passion that has been in the heart of
SHOW-2’ POINT
The following products have been taken from the list of products named by BusinessWeek magazine ‘The best products of 2005’:
· The 2006 Pontiac Solstice, www.pontiac.com
· Stamps.com PhotoStamps, www.photostamps.com
· Nokia N90 cell phone, www.nokia.com
· Yamaha Morphous scooter, www.yamaha-motor.com
· LandRoller skates, www.landroller.com
· Microsoft Xbox 360, www.xbox.com
· Coopertone spray sunscreen, www.coppertone.com
· Bugaboo Chameleon stroller, www.bugaboo.com
· Sonos Digital Music System, www.sonos.com
· EyeToy: kinetic fitness program, www.eyetoykinetic.com
►Learn about the products and prepare a talk on What makes these products hot and innovative?
CASE’ POINT
(1) With a focus on product and brand development Schulstad has been responsible for raising bread’s share of total grocery sales by 50%. Until 1995 the bread market was characterized as being a generic category consisting of traditional bread types with few brands. In the rye bread market these categories were simply ‘light’, ‘dark’ and ‘full corn’ – sliced or unsliced. Today’s market looks completely different. Danes now eat bread as never before – a development for which Schulstad and Kunde & Co can take credit.
(2) With a focus on developing higher quality products combined with a comprehensive communication spectrum, Schulstad have gone from strength to strength.
In 10 weeks sales increased by 100%
(3) It started in the wheat bread category, where Schulstad had a series known as “Denmark’s loveliest”. It was a high-quality product but had an anonymous name and packaging. Customers’ awareness had dwindled and their experience of the bread’s quality had little to do with the facts.
(4) In 1995 we tested a series of concepts. Customers reacted very positively to the notion of raising Schulstad’s brand profile. Kunde & Co.’s strategic advice to Schulstad was therefore to go ‘back-to-basics’ and focus on the key values in the product series – the carefully selected raw ingredients. The tests showed us that two important relationships to the brand should be changed: the plastic packaging and the name.
(5) This resulted in Kunde & Co – together with Schulstad – developing paper packaging for the bread shelves. The name was also changed to “The good wheat bread”. We then initiated a focused and consistent marketing plan. 10 weeks after the re-launch sales increased by 100% - and after three years the market share had increased to 25%.
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| VII. ИМЯ БРЕНДА | | | I. Learn the following words |