Group Assessment 1 PDF

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questions and answers for group assessment 1...

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Megan Pulver, Natalie Woodman, Marisa Borman, Hannah-Rose Leo, Johnely Cabrera Professor Sundstrom-Fitzgerald Integrated Marketing Communications January 29, 2021 1. Identify a brand/product in which the brand you purchase is not very important. Why is the brand/product not important to you? Next, identify a brand/product in which the brand is important to you and explain why. Do either brands experience brand parity issues? Explain. We all agreed that staples like flour, sugar, bottled water, eggs, or salt are products in which brand is not important at all. This is because they are staple products that don’t really have specific or unique ingredients involved. They are commodities, and differences in quality tend to be negligible. A product that is extremely important or specific to a certain person is alcohol. Each person has a preference toward either a type of alcohol (beer, cider, seltzer, spirits) and also the brand. Brand is important in alcohol because they typically align with a certain personality or message. There is also a different tolerance held by each person, for instance bottom vs. top shelf liquor. The impact that a specific drink has on a person is a unique experience and influences how each person buys alcohol. 2. Which industry do you feel has the toughest time combating brand parity issues and why? We all believe that the food industry, especially grocery stores have the toughest time combating brand parity because there is such a wide variety of brands and products that makes it hard to differentiate which to choose. They are all also competing to have the lowest prices in the industry. 3. In the Clow/Baack text, read "Case #1 "Mike's Old-Time Ice Cream and Chocolate Shop" at the end of Chapter 1 and answer the questions as a team. 1. Mike’s store will be a local business that competes with large national companies. What communication challenges does that present? What opportunities does it offer? a. The challenges faced include lower brand recognition and a smaller advertising budget than its competitors like Baskin Robbins and Dairy Queen. The opportunity they have is to focus on the nostalgic feel that

opening a classic ice cream shop can provide to a community. They can do this through local advertising like newspapers and flyers as well as through social media. Being able to engage with locals on a first-hand basis is also much different than how chains operate. 2. Which of the emerging trends in marketing communications can Mike use to promote his new business? Explain how it can be used. a. Mike can take advantage of the recent trend of social media in order to advertise his business. He can create accounts on popular platforms to showcase his products, and offer promotions to new customers in order to bring business to his store. He can also use hashtags and other social media tools to increase his visibility to potential patrons. 3. What should be the first message that Mike should try to communicate to all potential customers? Should he emphasize price, value, or some other element of his business? a. Mike should focus on the value, nostalgia and atmosphere as the main elements of his business since those are elements the competitors lack. His goal should be to create a sense of community rather than competing with the other brands over price. 4. Will Mike be able to use social media in his marketing communications efforts? If so, how? If not, why not? a. Yes, he will be able to use social media. By creating accounts on platforms like Instagram, Facebook, and even TikTok, he can showcase his products to make them look appealing to potential customers. He can use hashtags and location tags for visibility, and promote customers’ content. He can also offer deals for new customers through his social media, in order to entice them to come in....