What are the core associations the brand is trying to build into consumer knowledge?

MKTG3120 REPORTPersonal note to the writer: This task was a group assignment that was changed for me to a personal assignment. The word count was changed to 2000 words, and i do not need to do primary research, only secondary research is required. The brand i was assigned was Nike and i have to do this assignment focusing in Australian Market perspective. I have uploaded all the lecture slides so that the assignment is related to the course i am doing. I have also uploaded the marking rubric for this assignment.- RESEACH GUIDELINES -In the brand exploratory section of your report you are expected to do some quick secondary research, qualitative research and quantitative research. This research will ultimately help you build the brand resonance pyramid and the core brand associations map for your brand. This research is designed to make your report easier and quicker to complete. It also helps more closely tie this task to real marketing practice.Secondary Research:Objective: This desk research will help you identify a more robust list of core associations from the brand perspective that you can build into your quantitative survey questionnaire. Sources: Company reports, trade press, historical advertising, WARC(Available through Sydney University library). WARC (World Advertising Research Centre) often has some interesting case studies that discuss a brands positioning.Implications: (a) What are the core associations the brand is trying to build into consumer knowledge? (b) To what extent do the associations reinforce the brands positioning?Qualitative Research:Objective: As the section suggests you are exploring current associations and future possibility that may help later inform your survey and your brand plan recommendation from the consumer perspective. The idea is for you to use the secondary research to understand the core associations the brand intends and the qualitative research to build your understanding of the core associations the consumers actually do connect with the brand (i.e., brand elements, attributes, benefits, attitudes, thoughts, feelings, product category etc) You can later test the strength, favourability and uniqueness in your quantitative survey.Implications: (a) Does what the brand identifies as its core associations reflect consumer knowledge? (b) To what extent do the associations reinforce the brands positioning? (c) Do the current associations create enough points of difference relative to the competition? (d) what future possibilities exist to strengthen brand equity into the future?Approach: There are several ways you can approach this:For simplicity this could be done just with your group members, however, a single focus group discussion with 5 – 6 people in the target audience is preferred. This focus group can consist of group members, friends and family. Of course, you could also do one-on-one interviews, but this is likely to be more time consuming. Do not do you research amongst the general public. Best to start with open ended questions and then bring into the research more specific questions to probe other areas you may think are important. You also have the opportunity using this approach to explore (rather than just identify yourself) consumer reactions to future possibilities of association including possible line extensions, product categories, brand elements etc that may inform the recommendations in your brand plan.OR,Online qualitative research (technically known as a Netnography). Here you would collect data online (for example, Instagram comments with #Brand, community forums, customer comments, customer reviews etc). The idea being that you would analyse what you find, building them into themes to help you identify the key associations in consumers knowledge.Reporting Findings: You should include a copy of your questionnaire in the appendix of your report, but you do not need to formally write-up the findings. We will be able identify your findings from your qualitative research by way of what you include in your quantitative survey questionnaire and the recommendations you make in your report.Quantitative Research:Objectives: Having done some secondary and qualitative research you now understand the key association you now want to quantify in your quantitative research. That is, the direction of your quantitative research should be clearer if you complete qualitative research first. This research will help build your brand resonance pyramid and core brand association map. Specifically, it will give you numerical measures of (a) the depth and breadth of brand awareness, (b) the strength, favourability and uniqueness of the core brand associations, and (c) the extent of consumer loyalty towards the brandImplications: These research findings will help you identify the strength of the brand positioning, the extent by which the firms intended brand image matches that of consumers which you will use to direct your recommendations in your brand plan.Approach: Quantitative Survey. Can administer using Survey Monkey amongst 15 people in the target audience (that are friends or family). Do not do the research amongst the general public. Sample questions were presented in the beginning of Lecture 4 and others appear on p123 of the text. You will need to construct your responses using a 5-point Likert scale (For example Strongly Agree; Agree; Undecided, Disagree, Strongly Disagree). Be selective in the number of questions, so the questionnaire doesn’t become too long for respondents to complete. You can find many good examples of how you can construct a questionnaire using a Likert scale online.Reporting Findings: Tabulate findings in your appendix and comment in your report body of the exploratory section. Report word count excludes appendix and reference list!THE TASK: Working in groups of 3-4 students, your group, as employees of an international management consultancy, has been asked to complete a brand audit that includes a recommended brand plan that is to be collectively pitched to the client. A brand audit is a comprehensive examination of a brand to assess its health, uncover its sources of current equity, and suggest ways to improve and leverage sources of brand equity into the future. THE TASK COMPONENTS: A: BRAND AUDIT (written Report) – 30% To assist you with developing the brand audit, the assignment is divided into the following parts: 1.Market Overview. The market overview is designed to give the reader an understanding of the category in which the brand competes as well as setup the problem or opportunity for the brand to grow into the future. It should identify the size of the category, factors affecting demand, how the market can be segmented, the main competitors and their respective positionings. You should finish this section with drawing some implications from the market overview, that you will ultimately address in the recommendations contained in your future brand plan. For example, what segments of the market may represent future opportunities for growth? What are the implications of any competitive line extensions? 2.Brand Heritage The brand heritage requires an investigation of the brands current positioning, target audience and the portfolio of products that form part of the brand. You should finish this section with drawing some implications from the brand heritage overview, that you will ultimately address in the recommendations contained in your future brand plan. For example, is the brands positioning competitive, or does the brand need to be repositioned? Does the brand adequately fulfill the wants and needs of its target audience? 3.Brand Inventory. The brand inventory includes an examination of the brand elements that create a recognizable brand identity and an evaluation of product, pricing, distribution, communications, advertising, ambassadors etc. to evaluate how the product is marketed. At the completion of the brand inventory you should have a clear understanding of the brand elements and marketing mix elements deployed, their consistency across the product or service and the degree to which they reinforce the brand positioning and brand mantra. 4.Brand Exploratory. Whilst the brand inventory is a descriptive analysis of the current situation, the brand exploratory is research directed. It is designed to build an understanding what consumers think and feel about the brand and act toward it. This exploratory research helps the marketer better understand sources of brand equity as well as any possible consumer barriers. In order to conduct a brand audit, you are required to conduct qualitative and quantitative research through primary and secondary data collection. This may involve analysis of company reports to identify the firm’s perspective as well as interviews, focus groups, surveys or projective techniques designed to develop an understanding of the consumer perspective. This data collection will serve to assist you in evaluating the elements of the brand resonance pyramid and to develop a mental map of core brand associations important to reinforce or leverage brand equity. 5.The Brand Plan The brand plan is arguably the most important part of the brand audit as it details how you will grow brand equity into the future. The brand plan will include your strategic and tactical recommendation to develop and further leverage the brands equity. Your strategic recommendations may include (brand positioning or repositioning, new line extensions, new points of difference, clarity or revision of brand mantra, new secondary associations etc.). Your tactical recommendations may include (names, logos, advertising communications, new target audiences etc.). Remember, this part is very much future focused. It is largely about how you are going to manage the equity and subsequent growth of the brand. For example, how are you going to own the positioning for the brand, what line extensions might assist growth, what new target audiences might you be able to extend your message to, how might you improve consumer awareness by adding to, or improving the current brand elements etc. SUBMISSION DETAILS: The written report should be a maximum of 3000 words. Groups must conform to this word length. Where a group exceeds the word length, the group will lose 10% of the total marks when the submission is 10% above the word length and 10% for each 10% over-length thereafter. Note that the word limit excludes intext referencing and the reference list – a change from the UoS. Acknowledge any references in the style detailed in the Business School reference guide. A cover sheet should accompany the report, clearly detailing the names and student number of all group members. The written report must be uploaded to the appropriate Turnitin link by one group member. RECOMMENDED TABLE OF CONTENTS (Written Report): 1.Market Overview a.Category size/growth b.Factors affecting demand c.Segmentation analysis d.Competitive analysis e.Implications 2.Brand Heritage a.Current Brand Positioning b.Target audience c.Brand Portfolio d.Implications 3.Brand Inventory a.Brand Elements b.Product c.Pricing d.Integrated Marketing Communications e.Distribution 4.Brand Exploratory a.Core Brand Associations b.Brand Resonance Pyramid 5.Brand Plan a.Strategic Recommendations b.Tactical Recommendations Note: There is an example of the brand audit and brand plan presented by Keller on Rolex (Refer p315-321). The headings for this assessment have been adapted to more closely reflect practice. Kellar (p123 – 124) also provides a series of research questions relevant for exploration of the element within the CBBE Resonance Pyramid. You may choose to use/adapt some of these for your own research. Your client will be revealed in week 2 tutorials.