MRKT 610: Branding Brand Analysis Project The purpose of this assignment is to enable you to apply what you are learning about branding to analyzing the branding efforts of a company. This is a group project that entails a written proposal and oral presentation at the end of the semester. The foundation of the proposal is the analysis of a brand, critiquing what has been done and suggesting change for the future. Each team of 3-4 students must select a “client” firm. Clients may include an employer, a retailer, an underserved local organization, such as a charity, ashram, church, mosque, synagogue or other not-for-profit, a company which provides internships to NYIT students, or other organization. The client company must be approved by your professor in advance and must agree to provide a liaison for your team for meetings, background information, and follow-up questions. Note: you may invite your “client” to attend your final project presentation if you wish. Your final paper should be 8-10 single-spaced pages long, 1” margins, 12-point font, not including title page and sources. Your brand analysis project should include the following components: Part I: Preliminary Marketing Audit 1.) External Market Environment – What are the market conditions in which the company operates? For this component, conduct secondary research to define the scope and any global attributes of the market, as well as details concerning Political, Legal, Economic, Social, Cultural, Technological, Demographic, and Competitive considerations that might affect the company’s profitability and future success. For this portion of the assignment, only acceptable research sources are permissible. General Google searches will not be accepted. See the course outline for more details concerning acceptable research sources. Company websites are credible sources only for specific company facts. All sources must be properly cited using in-text citations and APA format, including your interview with your contact at the client organization. 2.) Current Marketing Strategy – Summarize the client’s current marketing strategy. Include the following: a. Mission b. Goals and Objectives c. Segmenting, Targeting and Positioning d. Marketing Mix (Product, Price, Promotion, Distribution) To assist you with this section, interview your company liaison. In addition to marketing strategy questions, the questions on page 297 of your textbook may be helpful. Also interview one or two customers to understand their brand attitudes using qualitative questions described on page 299 of your textbook. Describe the company’s marketing strategy using proper marketing terminology from your Marketing Principles textbook. Focus on strategic issues, not simple data. For example, what is the company’s pricing strategy (not what are their absolute prices). Part II: Brand Audit For this part of the project, use the framework provided in the Rolex Brand Audit beginning on page 287 in your textbook. 3.) Brand Analysis – Following the framework used in the Rolex Brand Audit, analyze all aspects of the client’s brand, including (but not limited to): a. Background i. Company history and ownership.What is the “story” behind the company or brand? For example, is there any information about the history of the company or brand that would help the company with its emotional positioning? ii. Brand portfolio b. Brand Inventory –Provide a full brand inventory. i. Do each of these components contribute to brand equity? Why or why not? ii. Brand elements. Identify the brand elements and explain whether they satisfy Keller’s criteria for choosing brand elements. c. Brand Exploratory i. Consumer knowledge– What is the current positioning of the brand? For example, address the four brand positioning considerations in the John Roberts Brand Positioning model. ii. Brand resonance pyramid– How does the company’s brand address each element of the brand resonance pyramid? How do the elements of the company’s marketing mix contribute (or not contribute) to building brand equity? iii. Competitive analysis Justify your assessment with your secondary and primary research. 4.) Strategic and Tactical Recommendations – Use your brand audit to make strategic and tactical recommendations for marketing the brand. Include recommendations for all elements of the marketing program, including segmenting, targeting and positioning, as well as recommendations concerning the product and brand elements, an integrated marketing communications (promotion) strategy, pricing, and distribution. Clearly specify how each of your recommendationswill enhance the brand identity and customer value proposition. Your grade for the project will be based on the following criteria: 1.) Do students use high-quality primary and secondary research? Are sources current and properly cited, both in text and in references, using APA format? 2.) Is the current marketing strategy completely and thoroughly identified? 3.) Is the brand analysis insightful, appropriate, and clearly connected to customer value? 4.) How strong (well-justified) are the recommendations derived by the analysis? 5.) Do the recommendations include an integrated marketing communications program for the positioning or repositioning of the brand? 6.) Do the students use the language of a marketer? (Hint: Use the vocabulary in your branding and marketing principles textbooks!) Consider bolding your marketing vocabulary in your paper to make it clear to me and to you. 7.) Is the project impeccably written with proper English vocabulary, grammar, and syntax? (Hint: Use the NYIT writing center and the Purdue Online Writing Lab (OWL) writing resources in our class website. Have a good English writer read and help you edit your paper.) 8.) Is the project professionally presented with a cover page, table of contents, headings, bullets, numbers, bold or italics typefaces, etc. throughout the report to make it as clear and easy to read as possible? (Visit the Purdue OWL for suggestions on professional report presentation formats.) 9.) Was the students’ project presented orally using best practices for oral communication? Hint: Remember the following presentation tips: 10.) Be sure to include a good introduction and conclusion. 11.) Purely APA Style writing and References