young marketers elite 2013 assignment 6.1 - tuong thuyet

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PHAN PHƯỢNG TƯỜNG NGUYỄN TRẦN TRỌNG THUYẾT BRAND INNOVATION ASSIGNMENT 6.1

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  • 1. ASSIGNMENT 6.1 BRAND INNOVATIONPHAN PHNG TNG NGUYN TRN TRNG THUYT

2. Question 1WHAT DOES BRAND INNOVATION and BRAND INNOVATION MIX MEAN ? 1. Define Objective: Brand innovation Brand innovation is step after brand stewardship and consumer insight, it is one of 3 three levers to pull to get there. It includes: - Creativity: The thinking process by which we generate ideas - Innovation: The process of harnessing creative ideas to meet business needs2. Factors which brand innovation hasFrameCreateOptimise3. Brand innovation mixCommunica tion innovationProduct innovationPricing innovationBRAND INNOVATION OptimiseResonateEnableConnect Packaging innovationChannel innovationExtendClusterImpactProcess innovation 3. Question 1EXAMPLE EXAMPLES FOR BRAND INNOVATION AND BRAND INNOVATION MIX Create and expand the concept of a new product segment Ex: Customers are not interested in convenience, but also care about taste, many people like to drink fresh beer than the beer cans Ex: Nokia developed smart phone to meet the new market. Samsung constantly launched new smartphones with many changes, sometimes better camera, round monitor; Apples multi-touch screen Improved formula component product Ex: customers wanna have a true tablet which not only light but also powerful -> Apple provide and improve Ipad to build Ipad Air. Changes to packaging can fit more convenience to consumers Ex: customer who play sport wanna a convenience bolt which handle and style -> Evian provide new packing for sporty. Change communication Ex: Johnsons want to reach wider target instead of changing the products, they communicate that their product is a great solution for adults who also want soft and gentle skin just like babies Change in Process Ex: Fords mass production line; Apples innovation of AppStore to innovate the journey of consumer to access to Apples software and music. 4. Question 2WHICH STEPS OF BRAND INNOVATION PROCESS ? 5. Question 2BRAND INNOVATION PROCESS EXAMPLE: OMACHI NOODLE Many approaches to change: good taste, potato-origin, deeper understanding of healthy noodle and premium noodle for class AFilter: Premium does not make sense with noodle; good taste is not different Develop deeper and further why people should eat healthy noodleReasons to stay healthy: less sick, more beauty, stronger, live longer Attach to young audiences, the effect should be instant and quick-to-see: beauty and charming Look back to the category and product truth to develop insight for innovation 6. Question 2BRAND INNOVATION PROCESS EXAMPLEInsight : - Every women likes to eat delicious food but still want to keep their beauty (delicious food is often linked to destroying their beauty) Functional benefit: OMACHI made from potato is good for health and not making bodies hot Emtional benefit: keeping and reserving beauty and charm Develop further and deeper Why women need to eat noodle-good-for-health --> to keep beauty in deed, so be more charmful. Look back charm is the final purpose of every women. Combining these two: OMACHI is a charming gift