Contemporary Marketing Study Set 6

Business

Quiz 12 :

Developing and Managing Brand and Product Categories

Quiz 12 :

Developing and Managing Brand and Product Categories

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Roy Choi Takes Gourmet Food to the Street Ah, the food truck! Long ago, food trucks parked outside a factory or office building or on a college campus were dubbed "ptomaine trailers" and "roach coaches" because they dispensed eats that only the brave-or the seriously famished-would consume. But today, the food truck concept has morphed into a valuable channel for delivering high-quality food at affordable prices to people in neighborhoods that can't support gourmet restaurants and where healthful eating isn't always the norm. Helping to change the food truck's image and introduce gourmet cuisine to the masses is Los Angeles chef Roy Choi, the son of Korean immigrants, who grew up on the streets of Koreatown. A law-school dropout, Choi became inspired to enroll in culinary school while watching chef Emeril Lagasse on TV. Preparing delicious, healthy food for people of modest means has become something of a calling for Choi. He gets passionate when he talks about it: "It's convenient to eat horrible food, and it's so difficult to eat great food. It's O.K. to eat flaming-hot Cheetos and never read books or eat vegetables." After working as a hotel and restaurant chef, Choi borrowed a truck from a friend and began serving a mix of Korean and Mexican cuisine-short-rib tacos and kimchi quesadillas-to targeted neighborhoods. Another friend created visibility for Choi's enterprise, Kogi BBQ, through Twitter and a Web site. The first couple of months, the venture simply broke even, but by the end of Year One, Kogi BBQ had generated $2 million in sales, with the average tab around $13. Today, Kogi BBQ operates four trucks in Los Angeles. For aspiring restaurateurs and entrepreneurial chefs, a food truck represents an opportunity for those who lack the capital to open a restaurant. The trucks are like rolling warming kitchens that can fit into empty niches or park on a corner, revitalizing street life or providing some sense of community where none existed before. Choi's business has led to numerous "copycat" food truckers and helped build momentum for the food-truck enterprise in Los Angeles. Now, a nondescript corner in Santa Monica serves as a gathering place for a number of trucked-in food stops serving a wide variety of eats, from sushi to grilled cheese. Food Wine magazine recently named Choi one of the best new chefs in America. The annual award recognizes ten new chefs who are "changing the landscape of eating." But success hasn't changed Roy Choi: his goals remain intact. His most recent endeavor: a sit-down restaurant in an old strip mall. Choi didn't spend money beautifying the space, however; the fare includes rice bowls for $7 to $9 and, he points out, the plates are mismatched. The introduction of Kogi BBQ has led to several other food truck businesses in and around Los Angeles. Does this competition help or hurt Choi's mission?
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Evolution of food truck business:
RC, a law school dropout, was inspired to enroll in a culinary school. RC was passionate to serve healthy and tasty food to the public. KC started the business with a truck which served a mix of K and M cuisines. Along with another friend, RC started KBBQ which together generated $2million sales with an average tab of $13. The company has won various awards for the service provided. The company now operates four trucks in LA.
Competitor analysis of R.C is given below:
RC business model has persuaded various competitors to operate trucks serving different types of cuisines. The market became crowded as many people started the truck food business. Many public places such as unoccupied streets, SM, and more became a gathering place for many trucks serving wide varieties of foods such as sushi, sandwiches and much more.
RC business did not get hugely affected because the business of RC was already well established before the competitors started similar businesses. RC was clear and focused on serving quality M and K cuisines at an affordable rate. This served as his core competency that no other competitor was able to match. So, his business remained unaffected by the competitors.

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In this chapter, you learned that American Girl has expanded its products beyond the original American Girl dolls, intended for nine-year-old girls. Why has this strategy worked for the company? Identify another well-known product that appeals to a specific age group. Do you think a similar strategy would be successful? Why or why not?
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M.T:
M.T is the market leader in the toy industry. The firm first started manufacturing wooden products and soon moved into toys. The company manufactured several toys such as H wheels, B-girl toys, F.P toys, A.M girls' toys and more.
Marketing strategy of M.T:
The company initially launched dolls targeting little girls. Later, they developed applications, online games, and online shopping to attract older girls. The strategy worked out well as it kept on increasing the number of customers and sustained the old customers. It satisfied different age groups with a similar product. Hence, this is a good marketing strategy for M.T products.
New product : W.D
W.D is the market leader in cartoon production. They started from production of cartoon movies alone and expanded into D land village, which is now a huge tourist attraction. They followed similar strategies of M.T by attracting customers of all age groups. They have primary customers (kids) for cartoon network and sustained older customers for resorts and movies. W.D has also been successful in proving its marketing strategy as an efficient one.

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What are the three stages marketers use to measure brand loyalty?
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When a consumer gets committed to a brand and makes repeated purchases over time, it is known as brand loyalty.
The three stages used by marketers to measure brand loyalty are as follows:
• Brand recognition refers to the phenomenon where customers are able to identify a brand through its attributes.
• Brand preference shows the preference of brand by the customers. It indicates the position of brand in the mind of customers.
• Brand insistence referred to a position when customers explicitly ask for their preferred brand and do not accept any alternative brand.

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What are the characteristics of an effective brand name?
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General Mills and several other major food makers have begun producing organic foods. But they have deliberately kept their brand names off the packaging of these new products, thinking that the kind of customer who goes out of his or her way to buy organic products is unlikely to trust multinational brands. Other companies, however, such as Heinz, PepsiCo, and Tyson Foods, are betting that their brand names will prove to be persuasive in the $25 billion organic foods market. Which strategy do you think is more likely to be successful? Why?
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Locate an advertisement for a product that illustrates an especially effective brand name, brand mark, packaging, and overall trade dress. Explain to the class why you think this product has a strong brand identity.
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As mentioned in the chapter, some analysts predict barcodes may be replaced by a wireless technology called radio-frequency identification (RFID). RFID is a system of installing tags containing tiny computer chips on, say, supermarket items. These chips automatically radio the location of the item to a computer network where inventory data is stored, letting store managers know not only where the item is at all times but also when and where it was made and its color and size. Proponents believe RFID cuts costs and simplifies inventory tracking and reordering. It may also allow marketers to respond quickly to shifts in demand, avoid under- and overstocking, and reduce spoilage by automatically removing outdated perishables from the shelves. Privacy advocates, however, think the chips provide too much product-preference information that might be identified with individual consumers. In the meantime, Walmart requires its major suppliers to use the new technology on products stocked by the giant retailer. How can marketers reassure consumers about privacy concerns if RFID comes into widespread use?
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Brand names contribute enormously to consumers' perception of a brand. One writer has argued that alphanumeric brand names, such as the Toyota RAV4, Jaguar's XF-type sedan, the Xbox game console, and the GTI from Volkswagen, can translate more easily overseas than "real" names such as Golf, Jetta, and Escalade. What other advantages and disadvantages can you think of for each type of brand name? Do you think one type is preferable to the other? Why?
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Brand equity. Several sources compile lists each year of the world's most valuable brands. Two are Bloomberg Businessweek magazine and a consulting firm called Brand Finance. Visit both websites and review the most recent lists of the world's most valuable brands. How many firms are represented on both lists? Where are these firms located? What criteria do Businessweek and Brand Finance use in determining brand equity? Which brands have improved their values the most over the past couple of years? www.businessweek.com www.brandfinance.com
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Identify and briefly describe the different types of brands.
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Ferrari brand. Visit the Ferrari website. Review the material and prepare a report outlining how Ferrari-a company that produces products that only a handful of consumers can afford-has been able to build such a strong, recognizable brand. www.ferrari.com
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Trademark disputes. Search an Internet news site, such as Google News, and the U.S. Patent and Trademark Office for recent trademark dispute cases. Select two of these cases and prepare a summary of each. Does the number of trademark dispute cases appear to be growing? If so, what is one possible explanation for this increase? http://news.google.com www.uspto.gov
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Roy Choi Takes Gourmet Food to the Street Ah, the food truck! Long ago, food trucks parked outside a factory or office building or on a college campus were dubbed "ptomaine trailers" and "roach coaches" because they dispensed eats that only the brave-or the seriously famished-would consume. But today, the food truck concept has morphed into a valuable channel for delivering high-quality food at affordable prices to people in neighborhoods that can't support gourmet restaurants and where healthful eating isn't always the norm. Helping to change the food truck's image and introduce gourmet cuisine to the masses is Los Angeles chef Roy Choi, the son of Korean immigrants, who grew up on the streets of Koreatown. A law-school dropout, Choi became inspired to enroll in culinary school while watching chef Emeril Lagasse on TV. Preparing delicious, healthy food for people of modest means has become something of a calling for Choi. He gets passionate when he talks about it: "It's convenient to eat horrible food, and it's so difficult to eat great food. It's O.K. to eat flaming-hot Cheetos and never read books or eat vegetables." After working as a hotel and restaurant chef, Choi borrowed a truck from a friend and began serving a mix of Korean and Mexican cuisine-short-rib tacos and kimchi quesadillas-to targeted neighborhoods. Another friend created visibility for Choi's enterprise, Kogi BBQ, through Twitter and a Web site. The first couple of months, the venture simply broke even, but by the end of Year One, Kogi BBQ had generated $2 million in sales, with the average tab around $13. Today, Kogi BBQ operates four trucks in Los Angeles. For aspiring restaurateurs and entrepreneurial chefs, a food truck represents an opportunity for those who lack the capital to open a restaurant. The trucks are like rolling warming kitchens that can fit into empty niches or park on a corner, revitalizing street life or providing some sense of community where none existed before. Choi's business has led to numerous "copycat" food truckers and helped build momentum for the food-truck enterprise in Los Angeles. Now, a nondescript corner in Santa Monica serves as a gathering place for a number of trucked-in food stops serving a wide variety of eats, from sushi to grilled cheese. Food Wine magazine recently named Choi one of the best new chefs in America. The annual award recognizes ten new chefs who are "changing the landscape of eating." But success hasn't changed Roy Choi: his goals remain intact. His most recent endeavor: a sit-down restaurant in an old strip mall. Choi didn't spend money beautifying the space, however; the fare includes rice bowls for $7 to $9 and, he points out, the plates are mismatched. What did Roy Choi do to build the Kogi BBQ brand? What measures has he taken to extend the brand? In your opinion, would further expansion hurt Roy Choi's efforts? Why?
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After the terrorist attacks of 9/11, an ad hoc task force of DDB Worldwide advertising professionals in 17 countries set out to discover what people abroad thought of the United States. In the course of their research, they developed the concept of "America as a Brand," urged U.S. corporations with overseas operations to help "restore" positive impressions of Brand America around the world, and urged the United States to launch Alhurra as an alternative to the popular Al Jazeera network. Do you think foreigners' perception of a country and its culture can be viewed in marketing terms? Why or why not?
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As mentioned in the chapter, some analysts predict barcodes may be replaced by a wireless technology called radio-frequency identification (RFID). RFID is a system of installing tags containing tiny computer chips on, say, supermarket items. These chips automatically radio the location of the item to a computer network where inventory data is stored, letting store managers know not only where the item is at all times but also when and where it was made and its color and size. Proponents believe RFID cuts costs and simplifies inventory tracking and reordering. It may also allow marketers to respond quickly to shifts in demand, avoid under- and overstocking, and reduce spoilage by automatically removing outdated perishables from the shelves. Privacy advocates, however, think the chips provide too much product-preference information that might be identified with individual consumers. In the meantime, Walmart requires its major suppliers to use the new technology on products stocked by the giant retailer. Do you think RFID poses a threat to consumer privacy? Why or why not?
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. What category of consumer adopter best describes you? Do you follow the same adoption pattern for all products? Or are you an early adopter for some and a laggard for others? Create a graph or chart showing your own consumer adoption patterns for different products.
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With a classmate, search a grocery store for a product you think could benefit from updated or new package design. Then sketch out a new package design for the product, identifying and explaining your changes as well as your reasons for the changes. Bring the old package and your new package design to class to share with your classmates.
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Why is brand equity so important to companies?
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As mentioned in the chapter, some analysts predict barcodes may be replaced by a wireless technology called radio-frequency identification (RFID). RFID is a system of installing tags containing tiny computer chips on, say, supermarket items. These chips automatically radio the location of the item to a computer network where inventory data is stored, letting store managers know not only where the item is at all times but also when and where it was made and its color and size. Proponents believe RFID cuts costs and simplifies inventory tracking and reordering. It may also allow marketers to respond quickly to shifts in demand, avoid under- and overstocking, and reduce spoilage by automatically removing outdated perishables from the shelves. Privacy advocates, however, think the chips provide too much product-preference information that might be identified with individual consumers. In the meantime, Walmart requires its major suppliers to use the new technology on products stocked by the giant retailer. Do you think the technology's possible benefits to marketers outweigh the potential privacy concerns? Are there also potential benefits to consumers? If so, what are they?
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Green: It's Not Just for Earth Day Anymore img Honda has always enjoyed a reputation as being a fuel-efficient economical brand. As early as 1974, Honda has been changing the way we look at cars with the low-emission/fuel-efficient Civic CVCC. In the years since, Honda's commitment to the environment has spawned a line of Good, Better, Best, and Ultimate vehicles. Regular gas cars are Good, with about 30 mpg; hybrids are Better at about 45 mpg; and their Best solution is a natural gas-powered Civic GX that gets about 220 miles to a tank. Honda has Ultimate solutions in the works, including the new Honda FCX Clarity, a hydrogen fuel cell car in which hydrogen reacts with oxygen, both renewable resources, to create electricity. The only emissions you get are a little steam. You can buy the natural gas Civic GX and Clarity today, but neither vehicle is practical for the average driver because the fueling stations are hard to come by. Roger Schofield of Schofield Honda in Wichita, Kansas, has been promoting Honda as a good and good-for-you vehicle for years. Gas mileage, safety, and brand loyalty are all important parts of Schofield's marketing. Unfortunately, despite the increasing interest in the environment, alternative fuel vehicles make up a very small part of his business. Even the Civic hybrid, a car with a lot of buzz, only makes up about 4 percent of his annual sales. Sales figures on alternative fuel cars as they were, Schofield wanted to reposition the Schofield brand in the green marketplace, rather than focus on particular products. When the dealership did some renovations to their buildings, they created the Honda Green Zone, a rental space for organizations to hold meetings about green projects. Internally, Schofield holds weekly meetings with his Green Team to brainstorm new projects, marketing, and products. They were at work on several other project ideas when an F5 tornado hit Greensburg on May 4, 2007. At that moment, the idea of going green at Schofield Honda took on a whole new life. The news of the green rebuilding initiative in Greensburg really drove home the need to become a leader in promoting more environmentally friendly technology. With any new technology, it takes a few early adopters to help lay the infrastructure for the rest of us. Well aware of the media attention surrounding Greensburg, Schofield decided to donate a natural gas Honda Civic GX to the town and a fueling station to go with it. The car would be made available to the residents to check out and try for themselves. The world would get to see the car in use by average people, and the town would have its own natural gas fueling station. He admits questioning his decision even as he was driving into Greensburg on the day of the presentation, but when all was said and done, it was the right thing to do. When customers come into the dealership, they are more interested in alternative-fuel and high-efficiency vehicles and recognize Schofield Honda's commitment to the people of Greensburg and the green movement as a whole. Visit Schofield Honda today, and you're going green-regardless of which type of vehicle you purchase. Employees will be drinking from ceramic coffee mugs "sponsored" by other local businesses. When you clean out your trade-in, you can use the recycling bins and take your important stuffwith you in a Schofield Honda reusable shopping bag. If you're just there for an oil change, your old oil will be recycled to heat the shop. Despite the media coverage on Greensburg and Schofield's green marketing efforts, sales are still slow on the alternative fuel vehicles, but Schofield is okay with that. Making the products available to those on the cutting edge will earn him a reputation as cutting edge himself. When Wichita is ready for a change, Schofield Honda will be there and waiting. Do you think repositioning the dealership as a green business will have a positive impact on their products' lifecycles?
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