ABM Memo - weekly brand memos. thank me later. PDF

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weekly brand memos. thank me later....

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Rent the runway business model adds value to its clientele by allowing consumers to rent designer garmets at a fraction of the price of retailers, through a subscription based payment model. A lot of the businesses success has been through word-of-mouth customer acquisition but is this a sustainable method of marketing? Another key driver of the businesses success has been the businesses ability to reach out to their consumers and use the data provided from their consumers feedback to identify consumer trends and inventory purchases.

Recommendations Rent the runway has an opportunity to capitalise of their positive word-of-mouth marketing by implementing micro-influencers as brand ambassadors on social media. Rent the run way would need to identify an ethical fashion advocate to represent the brand and highlight the benefits of option clothing ownership on the environment and increase brand awareness. A free subscription would be required for the influencer as the form of payment for their collaboration. If rent the runway wants to position their business as a one stop shop for women’s clothing needs then an addon subscription service needs to be considers to make accessories available. Accessories aren’t an expensive purchase decision and have the potential to become profitable expeditiously and enhance the consumers shopping experience. Lastly, if rent the runway wants to expand their business then incorporating a broader variety of designer and if possible, rent the runway exclusive lines which would attract consumers loyal to those particular brands. To increase the possibility of gaining rent the runway exclusive lines, I would reach out to high-end apparel companies and pitch the public relations marketing done through social media influencers and offer exclusive durations of advertisement for their brand. I believe these recommendations will improve the brand equity and profitability.

Learnings A key learning I took from the Fourth Wave Wines; Elephant in The Room brand memo was that the business used a mammoth as a remote conveyer to position the product as an elegant and sophisticated wine. In order to break through the clutter of a saturated market, the metaphor ‘elephant in the room’ was used as an idiom that gave the brand personality and shelf presence which really appealed to the millennial generation in particular. The metaphor also represents a story of persistence for the brands challenge to increase their ranging within the stores. The sophisticated logo and slogan paired with elegant writing saw the wine sell 41% above market price which indicates that the appearance was a huge driver of purchase decision. The campaign was an extreme success and its clear to see that creativity yields dividends.

Solutions There is an opportunity for Heineken to use the learnings from the case to increase their shelf presence and further highlight the message that their beer is a premium product. I believe Heineken should utilise the remote conveyer theory and implement an animal which represents prestige and country of origin. My suggestion is that we use a lion as our animal of choice and the coat of arms in particular to represent the Netherlands kingdom. Royalty is often perceived as higher class and increase the product awareness on shelf. An alternative approach could be utilising the Netherlands soccer team as their remote conveyer which would increase the brand equity of Heineken to soccer fans and position the product in the top of mind awareness category for soccer fans who consumed beer.

A key learning gained from the brand memo is how important ethical behaviour in business practices. Its clear to see that when launching a product, a simple decision to avoid chasing large profits can portray an ethical image to its consumers and improve the businesses corporate social responsibility. It was evident that the business was conscious of this as their labelling highlighted their ethical slogan ‘helping hungry kids’. The businesses efforts towards ethical business conduct had a positive reaction from their audience which drives brand engagement, therefore I strongly recommend implementation of ethical business practices. An alternative recommendation I suggest for the business to implement would be to create social media content which highlights the achievements and progress made from their “helping hungry kids” campaign. The reason why I believe this is a good opportunity for Foodbank is because it reinforces the message that the business exists for reasons other than solely for profit and increases brand awareness. To increase traffic to the social media profile, Foodbank could implement QR codes as part of their labels that take the consumer directly to the social media profile. Adopting this strategic will allow its consumers to get real time visual updates which create a bond between the consumer and the brand through a ‘heartfelt’ connection. This drives consumers to support the business due as they feel like they’re contributing towards a positive change in society. Consumers who feel satisfied when they support your business will continue to do so. Developing a brand story and online presence sets the business up for success by inspiring consumers through communicating emotion, purpose and meaning of a greater cause. Corporate social responsibility not only supporters society but encourages consumers to support your business through brand equity, therefore I believe you should develop and embrace your mission and values and share it with your audience.

This week After reading the brand memo, it was clear to see the importance of partnerships to increase the brand awareness and highlight the brand image. An opportunity for the business to achieve this would be associating your brand with local businesses, popular television shows or social media influencers depending on your target segment. This strategy paired extremely well when businesses highlight the work they do with charities or how they’re supporting small Australian businesses, consumers are more likely to support ethical minded businesses and generate greater exposure through sharing on social media or spreading via word of mouth. Strategic advertising and partnerships have the ability to determine whether or not a business is successful, which reinforces the importance of associating yourself with the right partnership. A suggestion that Banana’s Australia could implement is to expand their recipes they have available online with the introduction of cocktail and mocktail recipes. This would be paired with a social media influencer campaign that would encourage consumers to attempt their cocktail or mocktail recipes and post it on social media with hashtags #bananaaustralia. In the fruit industry, there is very little differentiation, therefore by creating this campaign, Banana Australia position themselves as a fun and exciting brand. The purpose of this campaign is to cause a viral trend on social media that drives brand awareness of consumer engagement in a unique way. I believe that the mocktail recipes in particular will be extremely successful, as it provides an avenue for parents with fussy children to consume bananas. I also strongly suggest donating 5% of profits from Bananas Australia towards a drought relief program for farmers who have been affected from the Australian bushfires earlier this year. There’s nothing more Australian than getting behind a good cause.

Learning A key learning from the Everton Football Club brand memo was how they were able to use attitudinal segmentation to break down their fan base into five core values. This allowed Everton Football Club to deeper understanding of the values which appeal to the different fan types and how they can leverage this to influence purchasing behaviour. By grouping these fans into clusters, Everton Football Club was able to apply unique strategies to appeal to each of their fans particular interests which drove sales and caused demand to increase to the point that there was more than ten thousand fans on the waiting list. Another key learning was that the Everton Football Club was able to de-prioritise particular strategies for particular groups which allowed the Football Club to provide a customer centric experience to their fans. Solution The shift from face to face learning to online has been challenging for a number of students which has led to a number of students deciding to either pause their studies or drop out of university completely for the time being. Slams was a very effective program on campus for students struggling with their studies to guide them on the right track. A suggestion that the Vice-Chancellor Martin Bean CBE could implement is to continue this service online through collaborative ultra to reduce the number of students dropping out of university and to provide support to the students. Slams is an excellent program which fosters leadership skills and interpersonal skills for the mentors and allows mentees to collaborate with senior members which are direct alignments of the universities strategic plans and vision. It’s important that students feel supported throughout their university journey but most importantly they enjoy their experience and I believe this provides an opportunity for students to flourish and develop skills in both mentors and mentees that will set them up for success for life in the corporate world.

Learning A key learning I took from the brand memo was importance of being able to understand your consumers. YouTube identified that they were able to gather valuable data about their consumers behaviour and demographics from their social media usage. This has highlighted that there are multiple avenues which a company can take in order to their goal, as long as there is an end target. Most importantly, it has shown me that our data is easily accessible and that important information which could jeopardise the businesses operations should be transferred through applications that use end-to-end encryption so that only the two parties are able to receive it. Recommendation My suggestion to the CEO of TikTok would be to concentrate on the consumers usage to gain a deeper understanding of the demographics and usage motivations. What this enables TikTok to do is develop marketing strategies which is strategically targeting consumers within the same characteristics and influence new users to sign up. What it also allows TikTok to do is run multiple campaigns at any given time by providing the business with enough data for the marketing team to develop marketing strategies to influence consumers with differing usage motivations. This information is critical to TikTok as it plays a vital role in distributing sufficient resources to each campaign which increases the likelihood of a higher return on investment. For example, if a particular demographic only accounts for 5% of usage it indicates potential opportunity to grow the business but if you were to allocate the same resources towards a segment that accounted for 5% of business as a segment that accounted for 70%, the potential for a positive return on investment would be diminished. TikTok could then leverage their position in the market by offering a portion of their promotional activity towards poor rural community farmers, raising awareness to their produce and allowing a large following to access their goods. Therefore, I believe these implementation provide TikTok the foundations to understand its consumers on a deeper level and adapt their marketing strategies to increase customer satisfaction and growth.

Learning After reading the Goldman Sach brand memo, I discovered that customer focused segmentation and strategic brand positioning is vital to a business’s ability to succeed. Goldman were able to understand who their consumers were and identify a business they could strategically partner with to enter into the consumer segment and increase their brand awareness. This enabled the business to establish a customer profile that they leveraged in their marketing strategies, such as the amounts of advertisements used and the type of preferred content that would appeal to the segment. Their strategy they incorporated was to incorporate comedy based content into their campaign. The consumer in their targeted segment are heavy social media users and by using content that would trigger emotional reactions, their consumers would share the campaign on their profiles, which would assist the businesses marketing campaign to break through the clutter and increase the penetration of the campaign and increase brand awareness. Recommendation It is very clear to see that the millennial generations use of social media can be leveraged into a beneficial position if strategically implemented. My suggestion to Qantas would be to focus on emotional content that would appeal to the millennial generation in a way that they would share Qantas’ campaign. My recommendation would be to host a social media campaign that incorporates the experiences travellers have had using Qantas and their favourite travel stories and tagging the person they travelled with. Travelling stories stimulate fond memories with consumers and by creating campaigns which incorporate fond memories and Qantas, it resonates the brand with positive emotions which would position Qantas in the top of their minds when deciding on their next vacation. Selecting a weekly winner from the comments section of the campaign with the most likes and offering them a 25% discount voucher would encourage consumers to engage in the campaign. I strongly believe this recommendation will increase the probability of a successful campaign and reinforce Qantas’s position in the market by reminding consumers about their purpose of providing its consumers with exception levels of service and strive to prove a memorable experience for its consumers every time.

Learning After reading the Toohey’s New brand memo, I discovered that beer the drinking culture in Australia was very selective and that social status is a large factor behind purchase decision. Toohey’s New identified that the mainstream beers were becoming outdated, so Toohey’s decided to gain first hand insight by naturally engaging with their consumers from both sides of the bar. What they found was that this method enabled the business to gain an authentic response from their consumers and they were able to discover that by removing glass bottles from their range, they would be at an advantage as venues enforced glass bans after midnight. They also discovered that they needed to refresh their brand image to capture the consumers drinking at home whose purchase decision was heavily influenced by social status. Reco It is very clear to see that the three social identity components play a huge factor in a consumers purchase decision. The consumers socially categorised themselves to drink a particular beverage, which is driven by social identification and social comparison to ‘fit in’ or ‘praised’ for their brand selection. My suggestion to vegemite would be to create a campaign of consumers from different ethnic backgrounds having vegemite toast together, with the song I am Australian by the seekers. This would be displayed across billboards and television highlighting vegemite being a staple product amongst Australian and that all Australians, regardless of ethnic background were Australian and bonded over vegemite. We believe this advertisement campaign will drive brand awareness amongst new Australian migrants and assist the brand gaining an increased market share from other breakfast spreads.

Learning After analysing the Burberry case study video’s, it highlighted Burberry’s ability to continually disrupt the fashion industry through the brands innovative culture. Burberry was able to establish their brand name and position themselves as an upper-class apparel due to its unique and quality trench coats, that were used by the British military. After their decision to expand in 1955, Burberry found their brand tarnished through the football hooliganism, which left a negative image associated with Burberry. In 1997, the Burberry continued to innovate, to reposition the brand as accessible luxury. They achieved this by associating their brand with up-and-coming local musicians in their stores that was posted across the brands social media platforms and its website. Burberry also updated their product range, which focused on fashion trends in three primary collects; accessories, womenswear and menswear which elevated the brand status.

Recommendation In many ways, Burberry was ahead of its time by continuing to push the envelope and disrupt the industry in unique ways, which hasn’t always resulted well. My suggestion to Burberry would be to continue with its exceptional innovation, management strategies and state of the art products. The musicians in-store in particular is a very bold strategy that I believe separates Burberry from other luxury retailers and reinforces its cultural background. In the covid environment, the fashion and entertainment have both taken a massive financial hit. Providing a platform for aspiring musicians to showcase their talent, whilst also promoting the brand would be looked upon very favourably by society and increase online sales for the brand. I believe this will hold Burberry in a position to survive the covid climate and position themselves for continually success.

Built up credibility by opening Flagship store on New Bond Street in London next to YSL, Chanel, Gucci, Versace Built up credibility by opening Flagship store on New Bond Street in London next to

YSL, Chanel, Gucci, Versace Built up credibility by opening Flagship store on New Bond Street in London next to YSL, Chanel, Gucci, Versace...