Report on golden harvest frozen paratha leveraging secondary brand association PDF

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Summary

Individual report in mkt624.It is on the brand golden harvest frozen paratha .It is based on two questions -
1)Formulate ONE Strategy to Leverage Secondary Brand Associations to Build Brand Equity
2)Justifying the ONE Strategy to Leverage Secondary Brand Associations to Build Brand Equi...

Description

Brand Management [MKT 624.1] NSU FALL 2021 Golden harvest group is a diversified conglomerate group located in Dhaka, Bangladesh. It manufactures many frozen food items. But one of the best-selling frozen food items is frozen parathas which have different varieties like aloo paratha and plain paratha. The target segment of golden harvest frozen paratha -busy families, city dwellers, young adults looking for convenient cooking, and households in Bangladesh mainly consume golden harvest frozen paratha. As the company sponsors various promotional campaigns the number of buyers is increasing at a rapid speed. Due to unique product attributes the golden harvest frozen paratha can attract people from various occupations, ages, and localities. Besides golden harvest frozen paratha is also available in Australia, the USA, and in the middle eastern countries as those countries prefer processed ready-to-cook food. The main rival of golden harvest frozen paratha – jhotpot, Kazi farms kitchen, AG food, Paragon paratha, Bombay sweets frozen paratha, Mughal paratha, Lamisa Paratha, etc. are some of the top rivals of golden harvest frozen paratha in the local Bangladeshi market. Leveraging Celebrity Endorsement as secondary brand association Considering the target market and the main rivals of golden frozen paratha I think the company should try to leverage celebrity endorsement as the secondary brand association. For using this strategy golden harvest first needs to select a celebrity who has a high level of visibility, judgments and feelings, and a rich set of useful associations. With the increasing popularity of social media celebrities, this method is proving to be quite successful. However, just like brands, the celebrity with whom the company would like to collaborate needs to be chosen carefully. Golden harvest frozen paratha should try to use a celebrity in a creative way which helps in highlighting the relevant associations and encourage transfer. Celebrity chef Kishwar Chowdhury can be leveraged as a secondary brand association under celebrity endorsement for golden harvest frozen paratha. Celebrity chef kishwar Chowdhury has participated in Australian MasterChef and has won third place in the competition. Kishwar Chowdhury is half Bangladeshi and half Indian. For this reason, she is quite popular in India and Bangladesh. Besides her title in the MasterChef in Australia, she is a busy mom having two kids in Australia. Definity no one can understand better than her the hassle of making paratha by hand daily. Every housewife or

working woman will be able to relate to Kishwar Chowdhury if golden harvest frozen paratha uses her as the celebrity endorsement. Besides MasterChef Australia is rated one of the most popular reality series by global tv demand awards. So it won’t create problems in the international market if celebrity chef Kishwar Chowdhury is endorsed in golden harvest frozen paratha brand. Justification of celebrity endorsement to leverage the secondary brand association Firstly, Celebrity endorsement with celebrity chef Kishwar Chowdhury can bring attention to golden harvest frozen paratha brand. There are lots of competitor brands in the Bangladeshi market. In the international market, Indian and Pakistani brands are dominating. As it is hard to draw attention to a common product having a common ingredient and manufacturing process celebrity endorsement can play a vital role in engaging customers to the golden harvest brand only. If we look at the competitor’s brand, we see that there is no celebrity endorsement for their frozen paratha brand. All these rival frozen paratha brands are using the channel of distribution or sponsoring various events which contribute to brand equity by becoming associated with the brand and improving brand awareness. Similarly, golden harvest frozen paratha is also following these two strategies as a secondary brand association to create brand awareness among consumers. But these two strategies are not enough to bring attention only to golden harvest frozen paratha. For this reason, celebrity endorsement can bring extra attention to the golden harvest frozen paratha brand if it is implemented carefully. Secondly, using celebrity endorsement will help golden harvest frozen paratha brand to stand out from other company’s frozen paratha brands. Frozen paratha product is easy to copy and, in the future, there is high demand for this product. As a result, a large number of new brands are coming out or already doing business in the market. Currently, golden harvest provides frozen paratha approximately in 100 superstores in Bangladesh. But besides golden harvest frozen paratha brand, there are other competitors’ brands that sell frozen paratha in those superstores. In the superstores, frozen parathas are kept inside the fridge and consumers take out their desired frozen paratha products after sliding the deep fridge window. Since frozen paratha is just a product having the same taste across all different brands for consumers brand name does not matter. In this case, celebrity endorsement can help the brand to stand out from other company’s frozen paratha brands.

Thirdly celebrity endorsement can create a favorable advertising rating which will help in an immediate increase in revenues. Golden harvest frozen paratha doesn’t have a specific advertisement on television. So, if an advertisement is made where celebrity chef kishwar Chowdhury talks about the brand then consumers will keep remembering that advertisement while purchasing his or her next frozen paratha from the superstore. It will lead to increased revenue for golden harvest frozen paratha. Finally, consumers tend to copy celebrity lifestyles. As a result, when a celebrity endorses a brand there is a chance that consumers may associate the celebrity with that particular brand and link celebrity association to the endorsed brand. It creates a huge network of associations. The main target segment of golden harvest frozen paratha is for city dwellers and busy households. So, when a celebrity chef like Kiswar Chowdhury endorse golden harvest frozen paratha brand it does make a difference for consumers. They feel motivated to follow brands where their favorite celebrities have endorsed with. Besides this brand which falls under the food category goes well with the celebrity chef endorsement....