Brand Management Class Notes- Nov 17

Brand Management Class Notes- Nov 17 - Brand Management...

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Brand Management Class Notes- Nov 17 Introduction You need to come up with some demographic profile for each segment, basically saying that it is likely that people will like this will have this need. Where do you get this from? Well Chart 16 should help you. Brand A is used by this segment, and Brand B is used by that segment. You should be able to ask why they fall into each segment. And the last thing that is crucial when you are describing the segment is your quality. People in every market place differ in what they consider high quality, and so you need to get a sense of what their perceptions are. Ask people “you said this is high quality. What made you think that?” Old Spice So this is something that was in USA Today yesterday, and so this came up yesterday, so I thought that it fit in with the topics of segments and needs. So this basically pointed out that many marketers today ignore the fact that there is so much size and volume in… mythologically, people say that you have to go after the young ones, because that is where loyalties are formed. There is a huge market that is over the age 50, and it is growing dramatically in terms of population size, proportions and numbers. Many marketers ignore this segment. How do we change the way people think of us? How does Old Spice go from being a brand that is viewed as something that is used by old people to this young, hip, masculine thing? So that is where all the technical stuff comes in. The key idea in the tactics that we discussed in the last class, was we want to figure out what your brand means to people, and let’s say you want your brand to look masculine, and you may want to find something else that your brand means, and bring the two together, and let the meaning guide you. Find something else that has the meaning that you want your product or service to have, bring them together through some clever tactical way (naming, logo, packaging, so on) that is how your physical product… Ralph Lauren sponsored the Olympics, paid for the uniforms of the athletes, so they went for a really clean cut classic American look, and the idea that it represents country, and it panders to people’s aspirations. The highest profile moment in its history, so the official design inspiration was a 1920s British… Great Gasby like. One reason why some companies prefer to use endorsers… so you might want to do is build a brand not around a real person, but a fictional brand or character or symbol. So Marlboro uses a cowboy, there is no real cowboy out there that is like that. So if there is some character out there in pop culture that you can use, that may make sense. If there isn’t, then you create one. So the Pilsbury dough boy, he is the tiny fictitious character, and they wanted to create something warm and cuddly for this dough that we sell, so they came up with him. Around the same time, Pedro cookies had the elves, and the tuna fish brand, called Charlie. This is especially helpful in services. Service businesses are intangible,
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Brand Management Class Notes- Nov 17 - Brand Management...

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