Use the provided information, as well as your own research, to assess one of the stated brands (Ferrari, NutriSystem, The Children’s Place Clothing or Beats by Dr. Dre) by completing the questions below with an original response to each. At the end of the worksheet, be sure to develop a new original positioning statement and motto for the brand you selected. Submit the completed template in the Week 4 assignment submission link.
Name:
Course Title:
Date:
Company/Brand Selected (Ferrari, NutriSystem, The Children’s Place Clothing or Beats by Dr. Dre):
Who are the target customers for the company or brand? Make sure you tell why you selected each item that you did. (Note: DO NOT say “any, all, everyone” or similar. You cannot target everyone, you must be specific.)
Age Bracket: (Insert response of at least one or two good sentences.)
Gender: (Insert response of at least one or two good sentences.)
Income Bracket: (Insert response of at least one or two good sentences.)
Education Level: (Insert response of at least one or two good sentences.)
Lifestyle: (Insert response of at least one or two good sentences.)
Psychographics (Interest, Hobbies, Pastimes): (Insert response of at least one or two good sentences.)
Values (What the customer values overall in life): (Insert response of at least one or two good sentences.)
Other items you would segment up on (optional): (Insert response.)
How does the company currently reach its customers/users? Look at the methods and media the company is currently using to reach the customers/users. What methods and media should the company use to currently reach the customers/users identified above? Why have you decided up on this suggestion?
(Insert response of at least four good sentences addressing all questions.)
What would grab the customers/users’ attention? Why do you think this will capture their attention?
(Insert response of at least four good sentences addressing all questions.)
What do these target customers value from the business and its products? Why do you think they value these items?
(Insert response of at least four good sentences addressing all questions.)
Who are the brand’s competitors? Provide at least three competitors and tell why you selected each.
1. Competitor 1: (Identify this competitor and provide at least two good sentences addressing why you chose them as a leading competitor.)
2. Competitor 2: (Identify this competitor and provide at least two good sentences addressing why you chose them as a leading competitor.)
3. Competitor 3: (Identify this competitor and provide at least two good sentences addressing why you chose them as a leading competitor.)
What product category does the brand fit into? Why have you placed this brand into the product category that you did?
(Insert response of at least four good sentences addressing all questions.)
What frame of reference (frame of mind) will customers use in making a choice to use/purchase this brand/service? What other brands/companies might customers compare this brand to (other than the top three identified above)?
(Insert response of at least four good sentences addressing all questions.)
What is the brand’s uniqueness? What makes the brand stand out with the customers? Why do you think this is a key uniqueness for this business?
(Insert response of at least four good sentences addressing all questions.)
What is the competitive advantage of the brand? What makes the brand stand out above its leading competitors? How is it different from other competing brands? Why do you consider this a competitive advantage?
(Insert response of at least four good sentences addressing all questions.)
What attributes or benefits does the brand have that dominate competitors? What makes the business’s products stand out above the competing products? Why do you think they dominate?
(Insert response of at least four good sentences addressing all questions.)
Using your analysis in the three questions above, create a new Unique Selling Proposition for your business. Why have you decided upon this particular USP?
Newly Created Unique Selling Proposition: (Insert response here.)
Justification of this USP (why have you created it?): (Insert response of at least two good sentences.)
Develop a new positioning statement and motto for the brand you selected. Below is an example of BMW’s positioning statement and motto. Discuss why you created the items that you did?
BMW Positioning statement: The brand for discerning customers of sports cars (target customers) who want an exhilarating experience (USP).
BMW Motto: BMW is the ultimate driving machine.
Your Original Positioning Statement: (Insert response here.)
Justification of this positioning statement (why have you created it?): (Insert response of at least two good sentences.)
Your Original Motto: (Insert response here.)
Justification of this motto (why have you created it?): (Insert response of at least two good sentences.)
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