Reference no: EM131280269 , Length:
Brand Strategy development
Task Overview
Based on the analysis of the current Apple core brand (i.e., Assignment 1), students are to propose a brand strategy for how to position the new Apple Car in 2020. Consideration will need to be given to how the product will need to live up to Apple's current core brand values, yet also consider how viable it is for the Apple brand to extend into automotive products.
Task specific requirements
In engaging in this task, you should incorporate and draw upon the collective findings uncovered through the analysis of assessment one. In other words, key findings from each group member's first assessment should be pooled to create a knowledge base to draw upon to inform the second assessment.
The report should explicitly detail the overarching brand strategy recommended for Apple to enter the automotive market (ie. Endorser brand, brand extension, development of an entirely new brand, etc.)
The branding strategy should also include a series of recommendations pertaining to:
o The positioning of the Apple Car in the market.
o The design elements (i.e., brand elements, brand experiences, and secondary sources of brand equity) that Apple should consider when attempting to launch a new product in a new industry under the brand.
o Consideration of wider marketing variables required to effectively support the launch of the product to market.
It is recommended that you use the Brand Resonance model as a guiding framework and provide clear justifications for your recommendations.
When engaging in this task, it is expected that you will conduct additional background research, and paraphrase the contents of the Assignment 1 report.
It is up to the team to decide the best way to present the findings of your analysis, and what headings/sub-headings that should be used. It is recommended however, that in your report, you focus your efforts on clearly articulating the target segment, relevant competitors and the key points pertaining to your recommended branding strategy. The written report should go into each point discussed in more detail.
Intro (250 words)
Overview (250 words)
-Based on the analysis of the current Apple core brand (i.e., Assignment 1), students are to propose a brand strategy for how to position the new Apple Car in 2020. Consideration will need to be given to how the product will need to live up to Apple's current core brand values, yet also consider how viable it is for the Apple brand to extend into automotive products.
Target Segment (250 words)
Competitors (500 words)
Brand Strategy Overview (500 words)
**The report should explicitly detail the overarching brand strategy recommended for Apple to enter the automotive market (ie. Endorser brand, brand extension, development of an entirely new brand, etc.)**
Brand Strategy Development (2000 words)
Key headings: (Should be 250 words each)
Positioning positioning of the Apple Car in the market.
Brand elements (lecture 5)
Brand experience (lecture 5)
Brand Equity
Cover equity, personality and image here
Product strategy
Keller (1993) built the Customer-Based Brand Equity model; a concept that shows in order to build a strong brand, the company needs to shape how consumers perceive their products.
The product itself is the primary influence a consumer has with a brand to deliver a positive brand perception with the consumer (Farnham, Newberry, 2013). To extend the credibility, quality and innovative traits of the Apple brand into their new product, it's proposed the company offer personalisation, including unique voice activation via Siri, iPhone connectivity and design personalisation including colours and accessories. Personalisation enriches the customer experience by allowing the customers to identify with the brand and express their innovative personality traits, resulting in a positive brand perception (Lehu, 2007).
Once a purchase has been made, the consumer has an expectation of what the Apple Car product will provide based on their knowledge of the product gained through the interactions with the brand and product (Babin & Harris 2015). A common experience consumer's face after making a purchase is cognitive dissonance, a feeling described as having inconsistent thoughts with their preconceived notions (Bui, Krishen & Bates 2011). Apple users may experience doubt over their Apple Car product purchase as there may be other alternatives that could provide a better experience. These theories expose Apple marketers to an opportunity to provide post purchase communications to reinforce their consumer's decision to prevent negative feelings and provide further customer satisfaction. This satisfaction would lead consumer's service, product and status expectations to be met and lean towards a favourable emotional and behavioural state towards the Apple brand (Babin & Harris 2015).
Marketing Channels - Place
direct/indirect (lecture 6)
Concept stores/pop up shop etc
People (?likely to exclude this section)
(lecture 6)
Marketing Communications
Acquiring new customers, multiple marketing programs
Recommendations (500 words) (ALL CONTRIBUTE AS WE GO)
- a series of recommendations pertaining to positioning of the Apple Car in the market
- Design
- key points pertaining to recommended branding strategy
This should look to follow the brand resonance model
This should also look to include:
o The positioning of the Apple Car in the market.
o The design elements (i.e., brand elements, brand experiences, and secondary sources of brand equity) that Apple should consider when attempting to launch a new product in a new industry under the brand.
o Consideration of wider marketing variables required to effectively support the launch of the product to market.
-Brand equity /personality and image
Consideration will need to be given to how the product will need to live up to Apple's current core brand values, yet also consider how viable it is for the Apple brand to extend into automotive products.
Option to include recommendations in here too - I kind of think it would be good for all input in the recommendations though.