help with disc proj 2 due in 24 hours

Course Resource

Slate Case File

Client Name: Slate, Inc.

Industry: Sporting Goods

Product Line: Sports Apparel and Footwear

Competitors:

· Nike

· Adidas

Slate, Inc. has asked us to provide a brand analysis report on these two competing brands to inform Slate’s decisions on the direction of its branding strategy.

Comparing Nike and Adidas brands can provide valuable insights to Slate, Inc. for several reasons:

1. Competitive Analysis: Both brands are significant sports apparel and footwear players. A comparison can help understand how they compete regarding product offerings, marketing strategies, and target markets.

2. Brand Positioning: Understanding how each brand is positioned in the market can provide insights into their unique selling propositions and how they differentiate themselves.

3. Consumer Perception: Analyzing how consumers perceive and interact with each brand can help identify strengths and weaknesses in their branding strategies.

4. Market Trends: Comparing these brands can also shed light on current sports apparel and footwear trends.

5. Innovation and Technology: Nike and Adidas are known for their innovation and use of technology in product development. A comparison can highlight their approach to innovation and how it impacts their brand image.

6. Sustainability Practices: With growing consumer interest in sustainability, comparing the brands’ environmental impact and sustainability practices can be informative.

Course Resource

Print

Meeting on importance of brand equity

Carlos Chance, the head of branding at Slate, Inc., soon hosts a kick-off Zoom meeting asking for the case team’s insights into the company’s logic on  brand equity.

Carlos noted that  "brand equity is basically the  added value that a brand gives to a product beyond the functional benefits that it provides. Brand equity provides  competitive advantages; for example, Mercedes Benz implies quality. A second advantage is that consumers are willing to pay more for a product with a brand equity. Here, brand equity is represented by the premium that a consumer is willing to pay for a certain brand over another when both brands provide similar functional benefits. Acura, Infinity, and Lexus cars enjoy a price premium that arises from their brand equity”  (Kerin & Hartley, 2017).

Carlos also noted that  “Keller (1998) defined brand equity as the added value of a brand that represents the part of a product created in consumer minds as a result of previous investments in brand marketing. In addition, Keller (1993) argued that brand equity is assessed through a customer-based lens by examining how consumers would react favorably to a brand versus a generic version of the product.”

Carlos added that  “a company like P&G has 22 global brands bringing in more than a billion  dollars each in annual sales (Brownfield, 2020). P&G spends millions of dollars each year to defend its brands; they are its most precious assets.”

Carlos said.  "I want you to research the role that brand equity plays in our competitors’ branding strategies, and how we can learn from them to enhance and defend our brand equity.”

Contribute your thoughts in the Slate, Inc.’s project team discussion area, and discuss your ideas with your team members.

 

Reference:

Brownfield, A. (2020). A look at Procter & Gamble's billion-dollar brands, including some made in

Triad.  Triad Business Journal.  https://www.bizjournals.com/triad/news/2020/10/17/these-arep-gs-billion-dollar-brands.html

 

Keller, K. L. (1993). Conceptualizing, measuring, managing customer-based brand equity.

Journal of Marketing, 57(1), 1–22.

 

Keller, K. L. (1998). Strategic brand management:  Building, measuring and managing brand equity.

Prentice Hall.

 

Kerin, R. & Hartley, S. (2017).  Marketing (13th ed.). McGraw Hill.

 

© 2022 University of Maryland Global Campus

All links to external sites were verified at the time of publication. UMGC is not responsible for the validity or integrity of information located at external sites.

 

© 2024 University of Maryland Global Campus

All links to external sites were verified at the time of publication. UMGC is not responsible for the validity or integrity of information located at external sites.

MBA Discussion Guidelines

Throughout the MBA program, you will be asked to participate in discussions. Assigned discussions, both individual and group work, are part of the process of developing your project deliverables.

In general, address your discussion posts to your classmates, rather than the instructor. Do not attach files; use only the discussion textbox. Your posts do not need the structure or format of formal business memos or reports. These discussions should be an informal exchange of ideas with your peers. You should, of course, still adhere to the norms of standard written English.

To receive the maximum benefit, you should participate in accordance with the guidelines provided below.

· timeliness

· initial posting(s) submitted by Saturday

· response(s) to other discussion postings submitted by Tuesday

· proper citation

· cite sources any time you quote or paraphrase an idea or evidence from another work

· use APA citation style (example below)

· meaningful engagement

· posts contribute to substantive scholarly discussion

· student demonstrates professionalism in interaction with peers

· posts critically discuss topics presented in the current week and, when appropriate, in previous weeks

· posts are grounded in the theories and concepts presented in the course

Example:

Based on the  UMGC library’s guidance on APA citations , including guidance on how to cite content from the UMGC online classroom, please use the following format for classroom resources with no author or no date:

Title of resource. (n.d.). Document posted in University of Maryland Global Campus Course Name Course Number online classroom, archived at:  hyperlink

 

© 2024 University of Maryland Global Campus

All links to external sites were verified at the time of publication. UMGC is not responsible for the validity or integrity of information located at external sites.

Learning Topic

Primary and Secondary Research

Print

The American Marketing Association (AMA) defines  marketing research as follows: “the function that links the consumer, customer, and public to the marketer through information—information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.” (AMA, 2013, para. 2)

There are two types of research (Marshall & Johnston, 2011):

· primary research—Data is collected specifically for a certain research question, (i.e., primary data). Data may be quantitative (statistical analysis), or qualitative (e.g., surveys, focus groups, and interviews). Primary research is important when making strategic decisions. While primary research is costly and more time consuming, it is more accurate and reliable.

· secondary research—Data was collected for some other purpose than the research question at hand. Secondary research may involve an internet search, periodicals, CRM data, government sources (e.g., economic census), and market research organizations. Secondary data is cheaper to obtain and is less time consuming to use because it is readily available; however, it may be outdated or unreliable. In addition, secondary research may not be a perfect fit for the research question. In general, primary research usually starts with a scan of the available secondary information to help further refine the search.

References

AMA (2013). Marketing research definition. Retrieved from www.ama.org

Marshall, G. W., & Johnston, M. W. (2011).  Essentials of marketing management. New York, NY: McGraw-Hill.

Resources

· Conducting Online Market Research

· Gathering and Using Information: Marketing Research and Market Intelligence

· Big Data in Market Research: Why More Data Does Not Automatically Mean Better Information

© 2024 University of Maryland Global Campus

All links to external sites were verified at the time of publication. UMGC is not responsible for the validity or integrity of information located at external sites.

Project 2: Conducting a Brand Audit Start Here

Print Project

Transcript

Introduction

You have a total of two weeks to finish your brand analysis report and should complete the seven steps of this project by the end of Week 4:

· Step 1: Review Slate Case File

· Step 2: Review the Branding Elements

· Step 3: Research Slate’s Competitors

· Step 4: Discuss Competitors’ Branding Strategies

· Step 5: Present Your Research Results

· Step 6: Submit your Brand Analysis Report

· Step 7: Complete your Brand Analysis Report

· Step 8: Submit Your Work

If you have any questions, ask your instructor. To get started, click Step 1: Review Slate Case File.

Competencies

Your work will be evaluated using the competencies listed below.

· 1.3: Provide sufficient, correctly cited support that substantiates the writer's ideas.

· 1.6: Follow conventions of Standard Written English.

· 2.5: Develop well-reasoned ideas, conclusions or decisions, checking them against relevant criteria and benchmarks.

· 6.1: Identify the general (external) environment in which an organization operates and discuss the implications for enterprise success.

· 6.2: Evaluate strategic implications for domestic and international markets of an organization's industry.

· 6.4: Develop and recommend strategies for an organization's sustainable competitive advantage.

· 12.2: Analyze marketing information.

Project 2 Scenario Transcript

MBA640

Just as you are completing your work with your first client, Maryland Creative Solutions’ (MCS) CEO, Jillian Best, hands down your next assignment. She has recently spoken with both Shanice Watts, the CEO of Slate, Inc., and Carlos Chance, the company’s head of branding, and Jillian would like you to serve as the consultant for this new client. She calls you into her office for a debriefing.

“Thanks for taking on this project,” she says. "We have been contracted by Slate, Inc. to provide a report on the market performance of their two biggest competitors’ brands. The group has asked us to provide a brand analysis report on these two competing brands to inform Slate’s decisions on the direction of its own branding strategy.

“We need you to do a thorough brand analysis of both companies,” Jillian explains. “The report should stress the importance of these companies’ brands as assets, especially globally. Time is of the essence. Shanice and Carlos have asked that this report be completed in two weeks, as Slate’s board of directors will meet soon after that.”

To give Carlos and Shanice the most in-depth report, you will need to conduct an analysis of both of Slate’s two biggest competitors’ brand performance and branding strategies. In particular, you will need to discuss the branding elements that are important for the competitors’ brand success.

Working closely with Carlos, Slate’s head of branding, you will need to have a solid understanding of branding strategy (in particular the branding strategies of Slate’s competitors) to complete your report. In addition, you will need to have a good understanding of the importance of brands in our current era of globalization and a firm grasp on how to manage and sustain a brand in this highly competitive business environment.

“I won’t keep you any longer,” Jillian says. “Good luck with this assignment.”

Step 2: Review the Branding Elements

Through correspondences with Carlos about his expectations for the brand analysis report, the focus of your analysis starts to become clear:

INBOX: 1 New Message

Subject: Focus of Brand Analysis

From: Carlos Chance, Head of Branding, Slate, Inc.

To: You

Hello,

Primarily, we want you to examine the  branding strategies   of our competitors. This report will function as a  brand audit  that allows us to examine our competitors’ strengths, weaknesses, customer expectations, and our own relative position in the market.

These details form the basis of the main  branding elements . I met with our CEO, Shanice Watts, and she wanted me to emphasize the following eight categories we would like you to analyze in your report about our two biggest competitors:

1. brand personality

2. brand image

3. brand identity

4. brand differentiation

5. brand positioning

6. brand communication

7. brand loyalty

8. brand equity (including financial equity)

Slate’s executive teams are really looking forward to your report. Thanks for helping us with this.

Best,

Carlos

When you have finished reading about the branding elements, proceed to the next step, where you will begin your research on Slate’s competitors.

Step 3: Research Slate’s Competitors

Required Readings

Ferrara, M. H. (2013).  Handbook of global marketing. Gale.

1. Building an international brand

2. Managing a brand across multiple markets

3. Global brand success stories

To carry out this assignment, you need to understand Slate’s competitors’ brand strategies, their consumers, how to acquire market knowledge through  primary and secondary research , and how to use that knowledge to build and support a brand.

To start your research, visit the websites of Slate’s two biggest competitors and review both scholarly and reliable nonscholarly sources to explore their branding decisions. Your research of the two companies should focus on the branding elements discussed in the previous step.

Consult a minimum of three scholarly sources and twelve reliable nonscholarly sources (15 total). Make sure that you use reliable, nonscholarly sources such as  Reuters,  Bloomberg,  Yahoo! Finance,  Statista,  Barrons.com,  Morningstar.com,  Money,  Forbes,  Fortune,  Financial Times,  The Wall Street Journal, and  Harvard Business Review, as well as the UMGC Library databases such as  Hoover’s,  IBIS World, and  ABI/INFORM.

In addition, explore the following branding websites for relevant content:

· www.adage.com

· www.adweek.com

· www.brandchannel.com

· www.ama.org

· www.cmo.com

· www.marketingprofs.com

Then proceed to the next step, where you will discuss branding strategy.

Step 4: Discuss Competitors' Branding Strategies

Importance of Branding

As you are researching Slate’s competitors, Carlos asks you to participate in a  meeting on the importance of branding  with his team.

Review the meeting details, then go to the discussion area and begin by posting your main response to Carlos’s questions by Saturday midnight (latest!). Support your arguments with at least one source from the course readings, and three reliable nonscholarly sources derived from your own research. Then respond to at least two postings in the discussion group. Complete all discussion posts and responses by Tuesday midnight (latest!).

Review the  MBA Discussion Guidelines  for instructions on participation in discussions.

In the next step, you will respond to your boss’s request for a vetted list of references you are using to support your report.

DISCUSSION MUST BE AT LEAST 1 PAGE LONG – 4 SOURCES – 1 FROM COURSE READING – 3 NONSCHOLARLY SOURCES PER THE INSTRUCTOR