how can wearhouse a/s raise brand awareness for their momentum brand, through different marketing...
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How can WEARHOUSE A/S raise brand awareness for their
MOMENTUM brand, through different marketing
communications options?
Simona Claudia Radasan-branding & marketing-Internship exam presentationDate 25.08.2014
1. Problem formulation 2. Brand architecture3. External analysis and internal analysis4. Brand identity5. Communication strategy6. Evaluation techniques direct marketing trade fairs e-communications (website and social media)7. How to measure brand awareness?8. Conclusion
AGENDA
Problem formulation
How can Wearhouse A/S raise brand awareness for their Momentum brand, through different marketing communications options?
1. How can be strengthened the identity of Momentum brand? 2. What messages does Momentum want to send and to whom?
3. Which are the most effective and efficient tools the company can use in order to get the message across and create media exposure?
Brand awareness plays an important role in consumer decision-making for three main reasons:• Learning advantages• Consideration advantages• Choice advantages
BRAND AWARENESS
Endorsement branding
Momentum - endorsed brandWearhouse - the endorsing parent brand; provides support and credibility for Momentum brand
BRAND ARCHITECTURE
External analysis - PESTLE- macro environmental factors - Opportunities (economic progress, e-commerce, sustainability, natural fibers, ethical supply chain); threats (consumer switching, decrease in the amount spent on clothing and footwear in DK) Internal analysis- strengths and weaknesses
Other possible approaches:Industry analysis- Michael Porter`s five forces of competition frameworkInternal analysis- Porter`s value chain analysis (explore the capabilities of the company)SWOT analysis
EXTERNAL AND INTERNAL ANALYSIS
Strengthen the identity of Momentum brand;Models: Kapferer`s identity prism and David`s Aaker identity system
BRAND IDENTITY
Gregory`s planning model
COMMUNICATION
STRATEGY
How to measure the effectiveness of direct marketing?- test the “counting” behavioural response- the optimisation of a direct mailing campaign can be based on response
scoring models - RFM-model:
Recency- the time elapsed since the last purchaseFrequency- the frequency with which a customer places an orderMonetary value- the average amount of money a customer spends per purchase
DIRECT MARKETING
Measurement of results: how effective?
Recency Score Frequency Score Monetary value (in DKK)
Score
Last 3 months 100 Once a year 0 Less than 1000 0
4-6 months 80 Between 2 and 4 times a year
30 Between 1001 and 2000
20
7-12 months 60 More than 4 times a year
70 Between 2001 and 3000
40
13-24 months 30 Between 3001 and 4000
60
25 months or more
0 Over 4001 80
RFM-MODEL
Assessing the effectiveness of trade fairs
During the course of the fair:- Counting the distributed information material (catalogues)- Counting the number of personal contacts- Observing visitor behavior - (where do they stop? What are they looking at?)
After the fair:- Questionnaires for stand visitors- Response analysis of sent invitations- Sales return
TRADE FAIRS
Tracking the effectiveness of e-communications
Measuring website effectiveness- ask for feedback on the website - Visitors surveys (online and offline)- Google Analytics- tracks and analyses website and social media visitors;
Measuring social media effectiveness- Tools provided by the social media platforms themselves- track the number of followers- Instagram- checking the hashtags; - Google Analytics (what your visitors are sharing and where)- Contests on FB- shares/ likes
RFM model- reference to online marketing
E-COMMUNICATIONS
Recognition- “have you heard of Momentum brand?”Recall- “what brands of B2B women clothing can you recall?”Graveyard statistic (recall level of those who recognize the brand)Top of mind (the first-named brand in a recall task)Brand dominance (the only brand recalled)Brand familiarity (the brand is familiar)Brand knowledge or salience (“do you have an opinion about this brand?”)
BRAND AWARENESS
“How to get Momentum brand out there?”
- strengthen the identity of Momentum brand- develop a communication plan - Objectives: building brand awareness and reputation creating a positive image and enhancing the company`s goodwill creating better engagement with the stakeholders nurture prospect activity acquire new leads
CONCLUSION
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