MKT 545 Learning Task 1 (545 LT1)

Course Description

Small Business Brand Management – This course is a study of the core concepts of marketing as applied to small and medium sized enterprises (SMEs) with emphasis on effectively branding the business. It is designed to prepare students with the skills and requisite knowledge that are necessary to start and run a small business. You also are exposed to important business principles and tools that make the foundation of organizational settings. Pre-requisite: MKT 521

1. To understand the basic principles of Marketing.

2. To demonstrate the uses of marketing mix in corporate strategy.

3. To familiarize students with the basics of creating a marketing plan.

4. To provide students with an opportunity to learn about excellent examples of marketing-driven companies throughout the world.

Key Marketing Analyst Skills to be used

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Interpret data, formulate reports and make recommendations

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Collecting and analyzing customer, marketing, and web behavioral data.

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Identify the VOC (voice of the consumer) from social media data to determine customer needs

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Competitor Analysis: Conduct market research to analyze the competitive landscape,

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Determine brand perceptions, identify new market opportunities and help with the overall

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Analyze Marketing Data: Digital marketing analysts determine the effectiveness of marketing campaigns by analyzing page clicks, keyword hits, search engine traffic, and other data.

Specific Problem Instructions

Please see the example template below. The numbered problem and question are required. Please note that sources are required based on the rubric.

Naming the File

The file submitted should be a Word doc ONLY. The file name should be File name Course number and section, Last name ONLY, the assignment (Required: 51101W Yourlastname LT2) (example if you are Ms Jones: 51101W Jones LT2).

Key grading instrument items (pts)

Missing the questions -2

Missing citations/references per question -3

Not including separate question ea. -2

No reference page -5

Each question (40-80 words per answer) -2

File may be returned and not graded (request resubmit)

Missing the cover page

Questions and numbering not included

File name not correct

5 questions to answer, 4 are required and then choose 1 of the optional questions

REQUIRED (10pts each)

1. Ch 2 discusses POD and POP. Describe a segment (giving psychological, demographic, and behavior descriptions). Provide an exhibit for your brands with its competitors on POP and POD for this segment. Explain what the limited results you have tell you about the results, consumers, and brands you have chosen.

2. Ch 3, Using p. 93, Fig 3-4 Possible Measures of Brand Building Blocks, identify 6 questions in the exhibit (2 from each of Salience, Performance, and Imagery). Identify individuals that have experienced the brands and record their responses. Explain what the limited results you have tell you about the results, consumers, and brands you have chosen.

3. Ch 4, Using p. 139 assess 3 of the key elements based on the target population or segment you have described for the brand you have chosen (Assess 3 of the following using the table: Brand Name or URL, Logos and Symbols, Characters, Slogans and Jingles, and Packing and Signage). Explain what the limited results you have tell you about the results, consumers, and brands you have chosen.

4. Ch 7, Branding in the Digital Era, is about utilizing the vast digital environment to strengthen your brand. Create an Excel table with the following 3 headings: Current or Old Item, Recommended New Digital Pivot, Justification. Explain what the limited results you have tell you about the results, consumers, and brands you have chosen.

OPTIONAL (WOULD LOVE FOR YOU TO ATTEMPT THESE, this is for your knowledge) (10pts for the one you choose)

5. Ch 1, p. 3-4 explains the example of product levels. Reproduce the exhibit (Fig 1-1) for your chosen brand. Explain what the limited results you have tell you about the results, consumers, and brands you have chosen.

6. Ch 5, Using p. 151-152 discusses personalizing marketing, describe how the brands you have chosen personalize the service they offer. Explain what the limited results you have tell you about the results, consumers, and brands you have chosen.

7. Ch 6, Starting with p. 188, 3 Major Marketing Communication Options, identify a major marketing communication item that would work for a brand that you have chosen. Describe the Pros and Cons for your option. Identify the Guidelines for your strategy. Then identify which criteria (p. 207) for coverage you would be using to implement an effective strategy. Explain what the limited results you have tell you about the results, consumers, and brands you have chosen.

Abbreviated Example below with one question example as a template

Inspirational Brand BONUS POINTS

2. Ch 2 discuss POD and POP. Describe a segment (giving psychological, demographic, and behavior descriptions). Provide an exhibit for your brands with its competitors on POP and POD for this segment.

POD:
Stands for Points-of-differences. These are benefits offered by a brand that is distinct to that brand versus those offered by its competitors. For example, IKEA’s POD is the Swedish design that other furniture companies do not offer.

POP:
Stand of Points-of -Parity. Benefits offered are similar or the same as those offered by competitors. There are three types: category, competitive, and correlational. For example, IKEA and Target selling ready-to-assemble furniture.

Segment:
The segmentation process divides consumers into groups based on their needs, behaviors, interests, and other factors. The main segmentation bases for consumers are psychological, demographic, and behavioral. Characteristics considered in the
psychological bases are attitudes, values, opinions, beliefs, interests, and lifestyles. For example, religious beliefs or an interest in sports.
Demographic bases are those such as age, race, family, income, and sex. An example of this is women taking an interest in beauty products. Finally,
behavior
bases are those of brand loyalty, purchasing behavior, user status, and usage rate. For example, taking into account consumers that could be loyal to a certain brand of detergent versus its competitor brand.

3. Ch 3, Using p. 93, Fig 3-4 Possible Measures of Brand Building Blocks, identify 6 questions in the exhibit (2 from each of Salience, Performance, and Imagery). Identify individuals that have experienced the brands and record their responses. Explain what the limited results you have tell you about the consumer(s) and brand(s) you have chosen.

I gathered all responses from my older brother.

Salience

Have you heard of AMC Movie Theaters? –
Yes. I have known of AMC since I was young.

How frequently do you think of this brand? –
Not very often. Only when an exciting new movie comes out that I am really interested in seeing.

Performance

Compared with other brands in the category, how well does this brand provide the basic functions of the product or service category?
-I think AMC does a great job compared to others in this category to provide movies.

To what extent does this band have special features?
-AMC offers many different features that other movie theater chains do not. Like, heated seats and dine in eating.

Imagery

To what extent does thinking of the brand bring back pleasant memoires? –
I have very pleasant memories from AMC. I remember when we were kids and our grandparents took us to see The Adventures of Shark boy and Lava Girl as well as a bunch of other movies.

To what extent do you feel you grew up with the brand? –
I feel strongly that I grew up with the brand. When we were young, AMC only offered the basics of movie theaters. Now it has grown so much.

From the results of these questions, I learned that AMC is a well-known movie theater brand, however, most consumers aren’t loyal to this brand and only think about it when a significant movie releases. AMC not only does a great job of providing the basic functions normal movie theaters provide, but it also provides superior amenities. The brand has been around for a long time and has done a great job adapting to the consumer wants and needs over time.

4. Ch 4, Using p. 139 assess 3 of the key elements based on the target population or segment you have described for the brand you have chosen (Assess 3 of the following using the table: Brand Name or URL, Logos and Symbols, Characters, Slogans and Jingles, and Packing and Signage).

Brand Name and URL’s:
AMC operates under three different brand names. These are “AMC Theaters, AMC Classic Theaters”, and “AMC Dine-in Theaters”.

AMC Theaters offers recliner seating, bars, and large auditoriums.

AMC Classic Theaters gives customer s hometown feel. This type of branding is fun and friendly and keeps value in mind all while maintaining a good movie watching experience.

AMC Dine-in Theaters includes a menu with full kitchen, bar as well as reclining seats and large auditorium.

I feel like having these three branding options is great for the target population. This is because there is a variety of options to choose from; a value friendly theater with AMC Classic Theaters, a semi-luxury theater with AMC Theaters, and a luxury dine in theater with AMC Dine-in Theaters. These brand names are good to enhance the brand recall and recognition to consumers.

The following is what you see when you do a google search for AMC. The title “Made Better on the big Screen” draws consumers in that know; yes, I can wait and watch this movie at home, but can choose viewing the movie in a better experience.

Logos and Symbols:
As the book mentions, logos are useful for brand recognition, can provoke visual appeal, and can be redesigned. All three of these aspects applies to AMC. Pictured to the right is the evolution of the AMC visual logo. The first visual logo that was created in 1962, I feel like was good for the target market at the time. Since it was the first visual representation of the company, I feel like adding the tag line really helped consumers understand what the company offered. Over time, as the brand has become known and the culture has changed, AMC has found a more minimalistic feel for the logo. In addition, the red logo reflects the industry in which AMC is in.

Slogans and Jingles:
According to the book, slogans and jingles are used to enhance brad recall and recognition, useful for non-product related imagery and brand personality, and can be redesigned.

The following are all of the AMC Theaters’ slogans with corresponding dates these were used.

“There is a Difference” (1986-2002)

“Experience The Difference” (2002-2011)

“Where Movies Live” (2010-2012)

“AMC Amazing” (2012-2021)

“We Make Movies Better” (2021-present)

I personally don’t believe that the “There is a Difference” and “Experience the Difference” slogans used in the past were helpful to consumers in regards to brand recognition. Yes, these slogans allow the consumer to know the AMC differs from its competitors. However, it doesn’t specifically make you think of AMC. Moving forward into the “Where Movies Live”, “AMC Amazing”, and “We Make Movies Better” slogans, I think these capture AMC more and to let consumers know exactly what is being offered. The use of slogans is great for the company because AMC doesn’t really offer products. Instead they offer more of an experience aspect to the customer. The slogans shows customers what they should look forward to. Finally, as noted, AMC’s slogan has evolved over time. It has been redesigned several times to fit the target market AMC is trying to gain consumers from.

7. Ch 7, Branding in the Digital Era, is about utilizing the vast digital environment to strengthen your brand. Create an Excel table with the following 3 headings: Current or Old Item, Recommended New Digital Pivot, Justification (Do 3-5)

References

AMC Theatres® Announces New Branding for AMC Locations in the United States. (2017, March 01). Retrieved from https://www.businesswire.com/news/home/20170301005839/en/AMC-Theatres®-Announces-New-Branding-for-AMC-Locations-in-the-United-States