Describe Co-Branding Opportunities

Subject: Business    / Management
Question

Step 1: Describe Co-Branding Opportunities

Find co-branding opportunities in three different product categories. For example:

Facial tissue: Puffs and Vaseline Intensive Care lotion

Spaghetti sauce: Ragu and Gallo wine

Hotel: Red Roof Inn and Serta mattresses

Describe three other co-branding partnerships. Briefly explain your ideas.

Step 2: Analyze Sources of Competition

In this assignment, you will analyze the past, present, and future sources of competition for a major brand in a changing marketplace and then develop strategies for keeping the brand strong in light of the changes.

Choose one of the following scenarios to analyze:

The computer and the telephone have had a dramatic impact on the greeting card industry. How has Hallmark Cards responded thus far and what should they do in the future to protect and maintain brand equity?

Blockbuster Video is facing a threat from computers as a delivery vehicle for movies.

Brillo pads’ franchise has been hurt by the rise of non-stick cookware, microwaves, and dining out.

Step 3: Converse Shoes

There are few brands with a history as rich as that of Converse. This case covers the company’s roots back to 1908, including the role played by semiprofessional basketball player Charles “Chuck” Taylor in making the Converse Chuck Taylor All Star high tops practically the only shoe on basketball courts for decades. But the real story behind this case is how managers at Converse today understand that in order to keep strong relationships between customers and the iconic brand, they must stand back and allow those customers to direct their own authentic experience.

Research Converse products.

Give examples of needs, wants, and demands that Converse customers demonstrate, differentiating these three concepts.

What are Converse and customers exchanging in the purchase transaction? Describe in detail all the facets of Converse’s product and its relationship with customers.

Discuss the benefits and drawbacks of Converse’s “stand-back” approach. How does a company grow sales, come up with new and exciting products, and expand into other product categories if they hold true to a brand image that is all about a basic, unpretentious, and even anti-establishment image? How can a brand be both “counterculture” and “culture” at the same time?

Step 4: From Market Segmentation to Marketing Mix (Fitness Centers)

Read the article on “The STP Process.” http://www.segmentationstudyguide.com/stp-process/what-is-the-stp-process/ (Links to an external site.)

The STP process (segmentation, targeting and positioning) is undertaken by marketers in order to have a better understanding of consumer needs so that a more effective marketing strategy can be developed. In this exercise, a total of six different market segments for the fitness center market have been provided, as shown in the following diagram:http://www.greatideasforteachingmarketing.com/wp-content/uploads/2015/02/market-segmentation-example-for-fitness-centers.png (Links to an external site.)

Quick Overview of Each Market Segment

Making friends: The “making friends” market segment sees fitness centers as an opportunity to mix with people with similar goals and lifestyles and to make new friends.

Losing it: The next market segment is “losing it,” which refers to the goal of losing weight.

Taking shape: The “taking shape” market segment consists of consumers who are primarily interested in improving the look of their body.

Peak performers: Consumers in the “peak performers” segment are highly disciplined and self-motivated individuals when it comes to their health and fitness. They are highly focused upon achieving their personal best.

Health requirements: Consumers in this market segment attend a fitness center because they are trying to improve their health, strength, or because of “doctor’s orders.”

Sports focus: This segment are those consumers who are heavily involved in sport and use a fitness center to help improve their fitness in order to participate in their chosen sport.

Respond to the Following Questions:

Review the above market segments and identify which segments would make attractive target markets for fitness centers. Why do you think these would be the most attractive target markets?

Using your list of target market/s, identify how the fitness center should be structured (in terms of facilities, equipment, classes, design, staff, location, and so on) to meet the needs of your target market/s.

Do you think would be possible to target multiple target markets with the one fitness center, or should you look to specialize and target one customer segment only? Why?