njosh
OVERVIEW:
The goal is to conduct primary and secondary market research to identify a new market opportunity Gen Z.
Generation Z or the iGeneration, is the demographic cohort that directly follows Millennials. Some of the oldest Gen Z consumers are graduating college and entering the workforce for the first time in 2020. This cohort is now defined as consisting of individuals born between 1996 and 2010. Many of these consumers and Teens and Tweens.
report will be completed in the following parts:
EXECUTIVE SUMMARY: (one page)
WRITE A 1 PAGE OVERVIEW OF YOUR RESEARCH METHODOLGY AND FINDINGS.
SITUATION ANALYSIS AND CONCLUSION:
100 POINTS: SECONDARY RESEARCH (Approximately 5 pages)
Your first step is to conduct secondary research. You should look for information on the social-cultural, economic and technological trends for Gen Z. For example, how large is the market? Describe their habits and practices as consumers. Describe their attitudes, lifestyle and opinions. How do they view technology? What brands do they prefer? How do they respond to traditional advertising and other marketing strategies & tactics? How brand loyal are these consumers? In essence, you want to find out as much as you can about how they behave as consumers in the marketplace.
1O0 POINTS: PRIMARY RESEARCH (Approximately 3 pages)
You should first conduct at least 3 interviews to identify insights about your target consumer and to better understand them and how they view brands. Once you have a cursory understanding of the consumer, you will summarize your findings of their unmet needs. You should profile your interviewees and give an overview of their habits and practices. This section is not to be written up in a Q & A format. On the other hand, you should analyze findings and discuss at least 3 significant outcomes. Use the Template provided to record each interview.
Consumer Interview Debrief Form
First Name of Interviewee:
Date of interview:
Contact information (Email):
Key Insights (What did you learn that wasn’t obvious or intuitive from the discussion):
Analysis of Interview
Outstanding Questions? Additional information you would like to know
100 POINTS: BRAND AUDITS: (Approximately 4 pages)
You should research two companies that are currently targeting this cohort. You will conduct brand audits for each brand. Please refer to the Brand Audit guidelines.
OTHER: MECHANICS & STRUCTURE OF PAPER:
You should check your grammar and spelling. Ensure your paper flows for section to section. Use proper citations as well. Your paper must have an Executive Summary, Appendix which includes a Bibliography.
APPENDIX:
-Bibliography
-List of Questions
-Interview Debrief Forms (3)
-Additional Charts, Graphs etc.
BRAND AUDIT GUIDELINES
ASSIGNMENT OVERVIEW:
A Brand Audit is an analysis of the DNA of a brand’s strategy. It encompasses the brand identity, current position in the marketplace and examines areas for opportunity.
1. COMPANY OVERVIEW (2 PTS): Include the following:
-Name of the parent company & Industry
-Mission & Vision Statement
-History & Values (e.g. Signature Story)
-Marketplace Metrics (e.g. market share)
2. BRAND PORTFOLIO (2 PTS): List the core branded products and services along with their line-extensions (bullets are fine for this section).
3. SEGMENTATION, TARGETING & POSITIONING (6 PTS): Include ONE of the following bases for segmentation and define the exact components of that bases for segmentation. For example, Demographic is a Bases for Segmentation. However, age, gender, income are the components; include the Target Market (e.g. Women between the ages of 18-34) and finally, include the positioning statement (see attached framework).
4. BRAND EQUITY (6 PTS): Include a summary paragraph of the following 3 components of Brand Equity: Awareness, Association and Loyalty. Discuss the brand’s strengths and weaknesses across all 3 areas. Use both qualitative and quantitative information (e.g. brand awareness and brand value). Give specific examples of how the brand has generated awareness, created associations and built a loyal consumer base.
5. COMPETITORS (3 POINTS): Conduct an analysis of the top 2 Competitors by using a
Perceptual
Map
. Your map should contain your competitors, your brand and two important attributes for differentiation in the category. For example, for the auto industry you could use Luxury and Performance for attributes. This section will also include a summary paragraph to explain your perceptional map (see attached framework).
6. VISUAL BRAND LANGUAGE (3 PTS): Discuss the communication strategy and touchpoints for the brand. This is the one place where you will include detailed information on the brand personality: logos (provide image), tag lines, blogs, website screen shots, advertising, social networks, mobile, APPS, PR, Podcasts, trademarks (provide images), unique packaging and design elements. Again, this section must include a summary paragraph.
7. OUTLOOK (3 PTS): explain areas of opportunity for the brand as it relates to new markets and product development. You will not receive credit for suggestions for promotions and advertising or recapping current strategies.
POSITIONING STATEMENT FRAMEWORK:
EXAMPLE: APPLE WATCH
“For the
Technotainment Enthusiast
, The
Apple Watch
, is the
Smart Watch
that provides
Funky Function
, because it:
· Answers phone calls
· Streams my Apple Music
· Has 50 m water depth resistance; Can be worn anywhere
· Has interchangeable fashionable wristbands
NOTE: YOU SHOULD HAVE AT LEAST 2 REASONS TO BELIEVE
PERCEPTUAL MAP FOR AUTOS
NOTE: YOU ONLY NEED 2 COMPETITORS AND YOUR BRAND FOR YOUR MAP