Creating and Managing Brands
Name
Institution
Table of Content
Managing Brands代写 In this context, this report will evaluate, analyze, and recommend the marketing and brand strategies for Avenger café in Sydney.
Table of Contents
Creating and Managing Brands ………………………………………………………………………………….. 3
Introduction ………………………………………………………………………………….. 3
Brand Image ………………………………………………………………………………….. 5
Marketing Strategy ………………………………………………………………………………….. 5
Target Market ………………………………………………………………………………….. 6
Market Segmentation ………………………………………………………………………………….. 6
Product Positioning ………………………………………………………………………………….. 8
Marketing Mix ………………………………………………………………………………….. 8
Measuring Brand Equity ………………………………………………………………………………….. 9
Creating and Managing Brands
Introduction Managing Brands代写
Movies and TV series are growing popularity amid stiff competition.
Games too are gaining popularity with children as technology has revolutionized how they experience games. At the same time, movie and games cafes are becoming a common trend in reaching out to the market. Beside accessing movies online through TV boxes like Netflix, people buy DVDs and visit cinema halls for thrill and classical experiences. An article by McDuling shows how Australians love Netflix (McDuling, 2018). Managing Brands代写**范文
The graph below shows total international subscribers estimates by 2022. The market growth in Netflix is a perfect replica of the increase in the film industry. There are online sites where people access and buy movies and TV shows as well as games on DVD and digital files. Thus, the initiative to have a movies and series outlet in Sydney by Marvel Studios is a step towards reaching out to the broader market.
However
Over the last decade, Sydney has seen the closure of more than 200 DVD stores as people shift to watching movies and TV shows online through iTunes and Netflix (Maddox, 2018). Also, most games are available online. The era of people renting movies has slowed to a halt. It was after Civic Video closed its stores at Bondi beach and hence followed the suit of all the Blockbuster, VideoEzy and other stores. Nevertheless, the market still exists and can be accessed using creative strategies. In the internet era where movies are available online production studios can open stores to act as their outlets. The approach is different from the previous one, where entrepreneurs had stores to sell films and series from different producers.
On the other hand Managing Brands代写
The game market is making a tremendous growth from $134.9 billion in 2017 to $135 billion in 2018 (Batchelor, 2018). More than 47 percent of revenue was derived from mobile accounts with smartphones taking the most significant share of 14.2 percent and tablets accounting for 7.8 percent. Personal computers accounted for 25 percent of the global games market, which includes box, downloads, and browser games. It is, therefore, evident that the availability of games online has reduced DVD renting. However, the use of virtual reality in gaming has increased the demand for café that offers such services to children.
Marvel Studios is an American film studio and a subsidiary of Walt Disney Company. Managing Brands代写
The studio is famous for its production of Marvel films that scoop high returns in the global box office. The company is also known for the production of X-Men, Spider-Man, Avengers, Iron Man among others. Marvel studios are competing with Sony Pictures Motion Picture Group, Universal Pictures, 20th Century and others. Besides, Marvel Games produce video games for children. Some of the popular games include Marvel ultimate alliance 3, Marvel battle lines, Marvel puzzle quest, and many others. Managing Brands代写**范文
Therefore, the establishment of Avenger café in Sydney that has the brand name of Marvel Studios will be a revolutionary approach to movie and games stores.
The Australian market is large and home of movie stars. According to IBISWorld (2019), the cinema’s industry is growing to reach an annual $1.8 billion, which represents a growth of 0.4 percent. The increase is despite the intense competition from another source of competition such as video streaming and film piracy. Avenger café will be showing the latest productions from Marvel Studios and will be available for purchase by customers, have a cinematic theater, and virtual reality arena. In this context, this report will evaluate, analyze, and recommend the marketing and brand strategies for Avenger café in Sydney.
Brand Image Managing Brands代写
The brand image that the company seeks to inspire is the thrill of entertainment and proactive experience. A brand image is the perception of the brand in the mind of the consumers (Pahwa, 2017). It constitutes the beliefs, ideas, and impressions that the brand has to the customers. The entertainment aspect of the café will come from theater movies, arena games, and purchases of company produc ts. While the proactive experience will be found in virtual reality games. The name “Avenger” is a film production series name by the Marvel studio’s “Avenger: Endgame” 2019 series. Managing Brands代写**范文
The café will use themes for Avengers to identify it with the Marvel studios. The strategy is to make the café memorable and feel part of the Marvel community. Customers will see it not as a separate entity, but a subsidiary of the Marvel company and hence will have its goodwill and reputation. Also, Avenger café will only deal with movies and shows as well as games produced by Marvel Studios. People who identify with the company products will have the opportunity to buy, watch, and play games at the café. The primary goals of the café are to promote parent company products.
Marketing Strategy Managing Brands代写
The game plan to reach out to the target customers and to create awareness of the existing customers will be analyzed in this section (Chan, 2019). Thus, it is vital to develop a marketing strategy for Avengers café. The analysis will ensure the products and services meet the needs of the customers, which will result in long-term value creation. The marketing strategy needs to be flexible enough to respond to market changes and customer perceptions. Hence, the market strategy identifies and communicate value to the target market.
Target Market
Avenger café will operate in Sydney city and target all film and game lovers. Notably, the virtual games target children who love virtual games. Sydney is Australia’s most populated city in with a population of over 5 million people. Australian Bureau of Statistics (ABS) predicted that the population in the city would soar to more than 5.73 million by June 2019 (Australian Bureau of Statistics, 2019). Managing Brands代写**范文
Avenger café is also aware of the occupations and income of the population. According to ABS, the main occupations of the people in Sydney are 32.9 percent of professionals (ABS, 2019). Also, more than 31.6 percent of households in Sydney City earn more than $2,500 per week in 2016. The income is a good predictor of propensity to spend on entertainment. Thus, since most people in Sydney City earn a decent income, can afford to pay on movies and games for their children’s entertainment.
Market Segmentation Managing Brands代写
The market segmentation is the research that determines how the company will divide its customers into smaller groups based on demographics, needs, priorities, shared interests, and other psychological or behavioral criteria (Markey, du Toit, & Allen, 2008). By understanding the market segments, Avenger café will leverage the targeting in products, sales, and marketing strategies. According to a study by Brain & Company, 81 percent of executives take keen interests in segmentation as a fundamental element in revenue creation. Managing Brands代写**范文
Hence, if Avenger café has a great segmentation strategy, it will increase the profit by 10 percent. The first segmentation will be geographic segmentation. Avenger café will operate within Sydney City. The population in the city have higher propensity to spend on personal entertainment and their children. Urban consumers are different from rural consumers in terms of needs, preferences, and interests that are unique in all geographical regions. Sydney, as the location of interest, will determine that approach of sales and advertisement.
On the other hand
The demographic segment of Avenger café will be young adults who love movies and games as well as children. Young people mostly love videos, while children most love games. The marketing strategies will target young people and children. Psychographic segmentation will focus on consumer traits, values, attitudes, interests, and lifestyles. As such, Avenger café must learn about young people and children behaviors. Managing Brands代写**范文
For instance, we will use themes that are attractive and can trigger interest for them to enter the business premises. Eventually, the company will not forget to consider the behavioral aspect of the target market, which includes decision-making patterns like lifestyle, consumption, purchase, and usage. For instance, young people are likely to purchase games and movies since they are free. It will enable the company to use more targeting approach.
Product Positioning Managing Brands代写
The positioning of Avenger café will take the form of marketing that will present the benefit of the movies and games to the target group (Chen & Sheu, 2017). The company will use market research and focus groups to determine how to reach the audience based on their preference in the product. Notably, the company will use product positioning to learn how to best communicate products’ attributes to young people and children through parents. Avenger café will also consider the competitive pressures in deciding the positioning elements to use. Managing Brands代写**范文
As such, Avenger café will use messages that are friendly to young and children consumers. For instance, using cartoons and animations. Positioning will also determine the communication channels to reach young people and children as well as their parents. For example, the company will use social media and television adverts as young people are likely to use social media like Facebook and WhatsApp and tend to follow television shows.
Marketing Mix Managing Brands代写
Avenger café has to harness the benefits of the marketing mix model. The model is used to strategize the way to take the product to market. Marketing mix defines the marketing options in terms of prices, product, promotion, and place regarding customer needs and demand (Datta, Ailawadi & van Heerde, 2017). Lack of the right marketing mix results in a disoriented marketing campaign.
The marketing mix is called the 4Ps of marketing.
The Price refers to the value they brought to the market. The value of the product depends on the cost of production, market segment, market forces, and target group ability to pay. Avenger café will use cost and value-based pricing strategy. That is, games and movies will be priced depending on the cost of their production and demand created by the company reputation. The Product refers to the item of the goods sold. Managing Brands代写**范文
The performance of the product in the market is critical. Thus, Avenger café will provide premium services and products to its customers. The Marvel games are quality and available in virtual reality. The games are derived from previous movies that make it possible for gamers to play a part and immerse in the real experience. The movies section of the café will not only sell but market the Marvel Studio movies. The movies are of high resolution and will be available in paid boxes for streaming and download.
Furthermore, the Place is the point of sales. Managing Brands代写
Avenger will establish a point of sale at Sydney City in Hawkesbury. Sydney is the place Avenger café will catch the attention of the consumer and make it easy for them to access the company services and products. The location is an essential element in successful businesses. The place should be strategic. Additionally, Promotion includes all the activities that Avenger will undertake to create awareness to the consumers. Managing Brands代写**范文
The company will use advertising and prizes as well as a mix of other strategies of creating awareness about the company products and services. The main advertising media the company will use is social media since the majority of young people use social media platforms to communicate. For instance, Avenger café will create a Facebook, Twitter, and Instagram pages through which it will communicate to its customers. The company will also make social media advertising using movie trailers and ads in video clips.
Measuring Brand Equity Managing Brands代写
Brand equity is the commercial value derived from the perception of consumers to the product but not the product itself (Keller & Brexendorf, 2017). The brand equity will be measured using the reputation of Marvel Studios. Also, the Avengers café will use the parent company branding, including colors, logo, and tagline. Avenger café’s name is borrowed from the movie “Avenger” which is a well-known movie series in Sydney. The café will use a theme that resembles the “Avengers” in the film. Thus, using the name as the business name will help create the perception of quality and customer loyalty.
Branding Theories Managing Brands代写
Branding theories are an important element in determining the perception to create to the customers. The best branding theories are traced back in the classical sociology, which studies consumer behavior in response to the brand. The models include functionalism, conflict theory, and symbolic interactionism. Besides, other brand theories like double jeopardy effect and duplication of purchase law are also used in creating consumer influence. However, the most appropriate will be used. Managing Brands代写**范文
In this context, the most applicable brand theory is functionalism theory, which is applied in creating a brand that is playing the role of bringing the society together. The theory posits that a brand can be seen as holding the society together through its value to the same community. Avenger café is a multinational brand derived from Marvel Studios which has produced films that depict various political, economic and cultural backgrounds. As such, using multiple filming approach and experiences, the café provides a social identity across communities in society. Moreover, the use of theater to display films and virtual games arena brings people together. Hence, contributing to social cohesion and harmony.
References Managing Brands代写
Australian Bureau of Statistics. (2019). Sydney population, 2019. Retrieved from https://www.population.net.au/sydney-population/
Batchelor, J., (2018). Global games market value rising to $134.9bn in 2018. Retrieved from https://www.gamesindustry.biz/articles/2018-12-18-global-games-market-value-rose-to-usd134-9bn-in-2018
Cahn, J., (2019). No-plan = No customers: How to build a profitable marketing strategy. Retrieved from https://foundr.com/marketing-strategy/
Chen, Y. J. & Sheu, J. B. (2017). Non-differentiated green product positioning: Roles of uncertainty and rationality. Transportation Research Part E: Logistics and Transportation Review, 103, 248-260.
Datta, H., Ailawadi, K. L., & van Heerde, H. J. (2017). How well does consumer-based brand equity align with sales-based brand equity and marketing-mix response?. Journal of Marketing, 81(3), 1-20.
IBIWorld. (2019). Cinemas – Australia Market Research Report. Retrieved from https://www.ibisworld.com.au/industry-trends/market-research-reports/information-media-telecommunications/cinemas.html
Keller, K. L., & Brexendorf, T. O. (2017). Measuring brand equity. Handbuch Markenführung, 1-32.
McDuling, J., (2018). Australian loves Netflix. But does Netflix love Australian? Retrieved from https://www.smh.com.au/business/companies/the-relentless-rise-of-netflix-will-come-at-a-cost-20180308-p4z3cm.html
Maddox, G., (2018). How one of Sydney’s last DVD stores has survived iTunes and Netflix. Retrieved from https://www.smh.com.au/entertainment/movies/how-one-of-sydney-s-last-dvd-stores-has-survived-itunes-and-netflix-20180422-p4zazj.html
Markey, R. du Toit, G. & Allen, J. (2008). Find your sweet spot. Harvard Management update. Retrieved from https://hbr.org/2008/02/find-your-sweet-spot-1.htmldem
Pahwa, A., (2017). What is the brand image? Explanation and examples. Retrieved from https://www.feedough.com/brand-image-explanation-examples/
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