Brand building is a crucial exercise that often takes years to accomplish. The benefit of brand equity is realized in the bottom line.
In this assignment, you will complete primary along with secondary research.
PART 1: Primary Research and Text Application
Find a consumer who is extremely loyal to a brand-name product. The person can be a family member, friend, classmate, or other. Probe him or her for information as to why that brand loyalty exists. Discuss how the individual feels about competitive brands.
Analyze the interview using the brand equity and brand positioning concepts from your text.
PART 2: Secondary Research in the Databases
Next, research the brand using its Web site and articles from the library's full-text databases to address how the brand does the following:
Identifies market segments and targets
Developed its brand equity over time
Positions itself in the market
The solution below uses an interview of a middle aged male consumer who is loyal to the Levi brand of jeans. Discussion of the building of the brand and the repositioning after years of mediocre to poor performance in the market is included, along with strategies used to reposition the brand.
Part 1: Branding and Brand Positioning
A loyal consumer of Levi & Strauss blue jeans and denim wear has preferred this brand of denim wear since high school. The consumer is a 45 year old male with two children, working in corporate sales for a top competitor in the cellular service industry. When asked about brand preference, this individual responded that he may first try a popular brand simply because others speak highly of it. However, loyalty only comes when he perceives a difference in quality or some other feature, among competing brands. During the time he was growing up, competing brands such as Wrangler and Lee offered similar products at similar prices. The value that Levi Strauss provides is comfort, which is obtained by producing a better fitting blue jean.
As the company began to product other products, such as denim jackets, this consumer was eager to try the new products as soon as they hit the market, believing they would provide the same quality and comfort as the blue jeans. What this consumer specifically likes about the brand is that with each washing, the products seem to become even softer and more comfortable than before. Though styles of blue jeans have changed, even with the products Levi Strauss offers, this consumer prefers the original jeans for their reliable fit and comfort. This consumer does not exclude competing brands, if he feels they may offer the same fit and comfort. In the past decade he has purchased a couple pair of Lee jeans, as the new offerings seemed to provide the same comfort, but were easier to obtain.
Though the consumer has purchased other brands, the Levi Strauss brand represents a value that is hard to find in competing products. One perspective on brand equity, known as the information economics perspective argues "that a brand name acts as credible signal of product quality derived from perceived firm costs or investments" (Anderson, 2007). In other words, the consumer has come to associate the brand ...
The solution discusses the various factors that influence branding and brand awareness. The discussion assesses the situation for a well known garment manufacturer and the changes in brand marketing strategy that have been adopted for the corporation to improve a poorly performing brand and meet the needs of a more varied target market.