chevrolet brand extension to chevy bank

Fall 2019

M R K T 6 2 0 B R A N D E X T E N S I O N P R O J E C T ( B . E . P . )

Brand audit and

extension plan

Instructor:

Elisa Chan

B R A N D I N V E N T O R Y

A current, comprehensive profile of how all products and services are marketed, branded and sold

by a company.

Finish reading on p. 3

B R A N D E X P L O R A T O R Y

An investigation of customer brand knowledge, awareness,

associations, etc.

Finish reading on p. 3

B R A N D E X T E N S I O N

A strategy for entering into new segments by extending brands

into similar or new product categories through leveraging existing brand perceptions and

image.

Finish reading on p. 4

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B.E.P.

Description & Assessment

Students will form teams (5-6 members) to work on this project. Please take the

time to put together a team that will work well together in terms of schedules,

skillsets, goals, etc. All groups must be formed and potential brands identified

by the end of the second class.

Your assignment is to select a real brand (new or well-established) and suggest

a brand extension plan for that brand. Every team must study a different brand,

so a pre-approval with me (the instructor) is necessary. Feel free to pick a service

company (e.g., non-profit or for-profit) or goods company (e.g., consumer,

technology, etc.)

Your team will conduct a brand audit which assesses the sources of brand

equity and suggest ways to improve and leverage that brand equity. Thus,

brand audits are made up of brand inventories (comprehensive summaries of

the existing marketing and branding program) and brand exploratories (the

result of empirical research), followed by recommendations for brand

extension.

Brand Extension Project Total 40%

Breakdown

Verbal Progress Report

10%

Final Written Report 15%

Final Class Presentation 15%

*Participation Assessment - Each member of the group will be asked to assess each other in terms of the individual’s overall contribution to the brand extension project. I will collect these

assessments and take them into consideration for the final group assignment grade for each student.

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P.E.B. Specification

Part 1: Brand Audit Brand Inventory Brand Exploratory

a. Identify all brand elements (logos, symbols, characters,

packaging, slogans, trademarks, etc.).

b. Identify the inherent attributes of the

product/idea/service (pricing, communications,

distribution policies, other relevant marketing

activities).

c. Profile direct and indirect competitive brands for

points of parity and points of differentiation. Identify

the most critical point of parity and differentiation.

Using all of this, gain an understanding of the brand’s

identity:

❖ What customer perceptions might the company be

trying to create?

❖ Is there consistency and continuity of marketing

programs?

❖ What customer perceptions might be conveyed by

the range of product offerings and important

collaborations (e.g., long time collaborators, cross-

overs, etc.)?

❖ What are the brand strengths and weaknesses?

Research activity is focused on understanding what customers

think and feel about the brand and its corresponding product

category, in order to identify sources of brand equity and

opportunities for the future.

a. Analysis of prior research studies (internal, external)

b. Analysis of media interpretation of the brand and

product category

c. Qualitative research

d. Quantitative research (optional)

Using all of this, develop a detailed and accurate “mental map”

of the brand’s image:

❖ What is the brand territory (perceived competence,

typical products or services, specific know-how)?

❖ What is its level of quality (low, middle, premium,

luxury)?

❖ What are its qualities? What is its perceived brand

positioning?

❖ Who are its critical competitors (existing or emerging)?

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Part 2: Brand Extension Based upon insights generated from the brand audit, make

recommendations for brand extension for your brand. Your brand

extension recommendations must be for a different product

category than your brand’s existing one(s). For example, Zara’s core

product categories include apparel and homeware. If you were to

work on Zara as your brand, then your brand extension cannot be

another apparel or homeware concept but any other product

categories (e.g., hotel, restaurant, etc.).

In this recommendation discussion, you will have to explain why

this brand extension is the best option for your brand. You may also

include discussion about which existing brand meanings should be

strengthened or eliminated? Which new meanings should be

developed? Why and how? What is the optimal positioning for the

new product? Etc.

Deliverables: Verbal Progress Report

This progress report is a ‘client meeting’. The professor will

act as the Management team of the brand you’ve chosen

and will listen to your team’s initial brand audit insights.

You may prepare a few slides or use any other visual aids.

Final Written Report

The final report is due the morning of our presentation

class. In it, you should convey your vision of what your

brand represents, how its essence will be retained, or how

new elements will be added, via the brand extension

recommendation.

You will have conducted qualitative research using tools

discussed in class as well as assigned readings. Your

qualitative research will include either 10 one-on-one

interviews or two 5-person focus group. Quantitative

research is optional. But if you do choose to do it, it will

include a survey among a larger number of customers.

Your goal is to explain the brand associations, brand

relationships, sources of equity, etc. possessed by your

chosen brand. You will also use the insights from your

research to formulate a positioning statement and

perceptual map to convey the brand’s ideal positioning

with respect to its competitors. The final report will use all

of this information to identify the sources of brand equity

and missed opportunities, thereby providing the basis for

your recommendations regarding brand extension.

Page limitations: 1-page executive summary; 8 pages

maximum of content including text and images (1.5 spaced,

1-inch margins all around; 12-point font); up to 5 pages of

appendices/exhibits.

Final Presentation

Each team will present the essence of their final written

report. In other words, you will give us the highlight of

your brand audit and brand extension recommendation.

For this final presentation, you are required to use some

visual aids to showcase your idea. There is no restriction on

the format of this presentation as long as it is

PROFESSIONAL and RESPECTFUL.