1. Pick a company. As completely as possible, characterize its brand portfolio and brand hierarchy.
a. The Kraft Heinz Company (KHC) is the third-largest food and beverage company in North America and the fifth-largest food and beverage company in the world with a globally recognized brand portfolio. The Kraft Heinz Company’s diverse product portfolio consists of condiments, sauces, cheese and dairy, meat, meal replacement, coffee, and replacement beverages. This portfolio includes eight brands that contribute more than $1 billion in sales each and five brands that contribute $500 million to $1 billion in sales. Kraft Heinz is a household name with recognized brands such as Kraft, Heinz, Maxwell House, and Kool-Aid.
b. The company …show more content…
While 2 out of 10 new products are successful, new products introduced as brand extensions are more likely to succeed. A brand extension can earn its own brand equity as well as contribute to the equity of the parent brand. For example, Apple’s iPhone has earned significant brand equity on its own and contributed to the equity of the Apple brand by clarifying brand meaning, enhancing Apple’s brand image and bringing new customers into the brand, as well as, increased market coverage. The iPhone is considered the most influential consumer electronic product ever made for various reason such as it inspired thinner phones, better screens capable of multi-touch input thus contributing to Apple’s brand equity. In addition, the introduction of the iPhone was accompanied with building an online App Store. As a result, Apple created development tools that promote a simple consistent experience for developers on the iOS platforms. This has contributed to the Apple brand equity and increased switching costs for iPhone and iPad users that proved to be a lucrative revenue stream for the brand. I can’t say that there is anything differently I would do to help the extensions add more …show more content…
Pick a brand. Assess its efforts to manage brand equity in the last five years. What actions has it taken to be innovative and relevant? Apple. Brand equity is a value-added element of the brand and is the key financial motivation for building a brand. Apple has managed brand equity in the past five years in various ways. For example, Apple has developed distinctive products in the field of consumer electronics such as computers, tables, and dynamic computer software. Develop a brand association that the brands stand for a wonderful point of view and intrigues people to reach for their wallets. For instance, Apple’s iPhone, iPod, portable laptops and tablets brand equity is higher than any other competitors. Apple has exclusivity and remains powerful to sustain a premium price by limiting what people can access. For example, Apple recognizes that their brands are worth more if consumers become dependent on them for more and more of their needs. Apple products require Apple parts and services. Apple has mastered all of this and as a result their brands reinforce their role in consumers lives so that consumers only look for their Apple logo. Those loyal Apple users remain loyal to the
a. The Kraft Heinz Company (KHC) is the third-largest food and beverage company in North America and the fifth-largest food and beverage company in the world with a globally recognized brand portfolio. The Kraft Heinz Company’s diverse product portfolio consists of condiments, sauces, cheese and dairy, meat, meal replacement, coffee, and replacement beverages. This portfolio includes eight brands that contribute more than $1 billion in sales each and five brands that contribute $500 million to $1 billion in sales. Kraft Heinz is a household name with recognized brands such as Kraft, Heinz, Maxwell House, and Kool-Aid.
b. The company …show more content…
While 2 out of 10 new products are successful, new products introduced as brand extensions are more likely to succeed. A brand extension can earn its own brand equity as well as contribute to the equity of the parent brand. For example, Apple’s iPhone has earned significant brand equity on its own and contributed to the equity of the Apple brand by clarifying brand meaning, enhancing Apple’s brand image and bringing new customers into the brand, as well as, increased market coverage. The iPhone is considered the most influential consumer electronic product ever made for various reason such as it inspired thinner phones, better screens capable of multi-touch input thus contributing to Apple’s brand equity. In addition, the introduction of the iPhone was accompanied with building an online App Store. As a result, Apple created development tools that promote a simple consistent experience for developers on the iOS platforms. This has contributed to the Apple brand equity and increased switching costs for iPhone and iPad users that proved to be a lucrative revenue stream for the brand. I can’t say that there is anything differently I would do to help the extensions add more …show more content…
Pick a brand. Assess its efforts to manage brand equity in the last five years. What actions has it taken to be innovative and relevant? Apple. Brand equity is a value-added element of the brand and is the key financial motivation for building a brand. Apple has managed brand equity in the past five years in various ways. For example, Apple has developed distinctive products in the field of consumer electronics such as computers, tables, and dynamic computer software. Develop a brand association that the brands stand for a wonderful point of view and intrigues people to reach for their wallets. For instance, Apple’s iPhone, iPod, portable laptops and tablets brand equity is higher than any other competitors. Apple has exclusivity and remains powerful to sustain a premium price by limiting what people can access. For example, Apple recognizes that their brands are worth more if consumers become dependent on them for more and more of their needs. Apple products require Apple parts and services. Apple has mastered all of this and as a result their brands reinforce their role in consumers lives so that consumers only look for their Apple logo. Those loyal Apple users remain loyal to the