c53cheng
c53cheng
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c53cheng · 3 years ago
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You say Burberry, I see Royal 🆚 You see Burberry, I say Young Blood
When I was a teen, Burberry means a symbol of elegance and royalty in my eyes. The most recognizable British style pattern and waterproof trench coat are icons to positioning Burberry to an identity for classic, luxurious and high-end. It's a brand that I dream to fill my closet at my mom's age. However, during the past decade, the generation-Z influenced the fashion industry. Burberry become a cool brand for fashion. Besides "joint-name" for pop-up stores, it also shifted the customer segments from "work age+ " professionals to teenagers with good financial situations. Burberry is no longer position it for long-lasting quality and old fashion classic, it's sporty as well.
This is good or bad thing in my opinion - being innovative for design is a good strategy for suitability, however, Burberry and Coach are getting closer as substitutes. Why should I spend 5x price for a trench cost in the same style and cut? Just for the identity of being a Burberry customer?
The gap between Burberry and LV is getter larger and larger especially after Burberry also offers promotion at the retail store regularly. Burberry is no longer a "luxury" brand for position in my opinion, it's a mixture in between - it's not as fashion as Versace or Balenciaga, not as elegant as Chanel, nor as professional as Prada, LV or Hermes. I may compare it with Coach or Polo for dress code, but the price is higher. With changing the position focus, Burberry is losing its initial position and identity for competitiveness. Therefore, I think Burberry's new branding strategy may lead it off the "luxury".
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c53cheng · 3 years ago
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Positioning ->Adaption
These four products/innovations have one thing in common: challenge the current status quo. Innovators figured that there are unmet demands exist on the market, and their ideas fill the gap as solutions. In my opinion, innovative attitudes help in constructing positing strategies, but not enough to convince customers to adapt the product.
By definition, "positioning describes how a brand is different from its competitors and where, or how, it sits in customers’ minds". By using "Collapsible Wheel" as an example, it's common for bikers to belive a wheel should be a solid and firm round. If wheels are collapsible, people may easily imaging that the tires will go flat, which increase the chance of accidence.
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However, collapsible wheel are commonly used for wheelchairs.
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Medical support equiments have the highest safty standard, evidence proved that collapsible wheels are applicable to bicycles. Customers usually oversaw the security risk than the convience a collapsible wheel bicycle can provide. Simiarly, when positing a product, besides different ourselves from the competitor, we also need to convience the client that the product in front of them enhance their current status quo. The reason for resisting the brand or product is may because they are bias, they have not get a chance to learn the true benefit, or their vision is limited.
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c53cheng · 3 years ago
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Why good customer service enhancing branding strategy?
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Have you ever posted fancy pictures of food served by airplanes via social media? Have you ever got attracted by the diligent experience on a flight? Have you ever put an airline company on the blocklist because of rude services? All this happened to friends around me and this pictures influenced my decision making progress when purchasing a long-distance travelling flight!
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With the advent of low-cost airlines, airlines such as SIA differentiates themselves from economic airlines by providing high-quality services, which is a sustainable branding strategy to increase market penetration and keep customer retention rate. "Feel being at home" is a statement used by many airlines - if the customer segment is mid to high-income travelers, service is more crucial to them than the extra bucks paid for the ticket. It's transparent that airline companies use price discrimination - so when the customer selects the branding, they are paying for the service and the moment on the flight.
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c53cheng · 3 years ago
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Let 2: Market Research for my Lab Project
The article of the week talked about different approaches to collecting and analyzing data sources for marketing strategies. I feel that although secondary market data may be unhelpful to address the solution for the best marketing or branding strategy, it can be used to narrow down unavailable data. In my branding lab, I'm thinking to leverage primary data and secondary data to understand the market. In general, secondary market reports will be used to study:
Which industry lacks good branding strategies;
Why is the branding not efficient;
What are the market size, attributes, and all other factors addressed in the article.
After selecting the target industry and company, I will conduct the questionnaire for primary market research to validate the pain point and hear the voice of respondents. During this progress, it is essential to avoid biased leading questions; however, the strategy of A-B testing should be beneath the questions.
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c53cheng · 3 years ago
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Corona’s Branding Proposition
Promoting a young life attitude is a good option for Corona's branding strategy. It appears that imported beer drinkers are more like to be the younger generation with high education background and more affluent. They also have fewer worries about the negatives effects associated with health matters. "Fun, Sun, and Beach" can be considered as identities for young generations, but changing it with sports or energetic themes that are associated with sun and beach may attract more audience. If we define the young generation as the inbound, then the elder generation with energetic young people attitudes can be outbound with the association.  
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Additionally, the taste of Corona beer is lighter than the classic brand for traditional beer lovers. Branding with an identity for the younger generation or for the audience who likes freshness should be Corona's focus.
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Furthermore, East North Centra and South Atlantics appear to be the two largest beer-consuming states according to the consumption graph of beer in 1996. Corona is has a branding proposition for relaxation in life. Its brand has delivered a message of "this is living" and "What you see is what you get" over the expansion history. Therefore, I think Corona's branding strategy aligned with the inbound audience since the population in those two locations is not very likely to have an aggressive personality.
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c53cheng · 3 years ago
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Getting Ready for the FIRST CLASS
##MITSloan2022SBrandingA 
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