Brand Extension Semester-2, 2022 Assignment-4 Submission Date-2/11/2022 Table of Contents Target Market Analysis. 3 1
Fit of the segment with the brand's identity/positioning. 3 Size and Growth. 3 Structural Attractiveness 3 Brand Extension and Product Strategy. 4 Brand Extension or Category Extension 4 Three Level Analysis 4 Core/Essence. 4 Actual. 4 Augmented. 4 Competitor and Positioning Analysis. 5 Brand Positioning Map 5 Brand Positioning Statement. 5 Value Proposition. 5 Marketing Mix 5 Place. 5 Product. 5 Promotion 6 Place. 6 References. 6 Appendix 8 Appendix 1.1 8 Appendix 1.2 8 Appendix 1.3 9 Target Market Analysis As shown in Appendix 1.1-1.3, there are three different types of personas that our market can focus on. For instance, we can choose whether we are targeting nationally, i.e, students residing in Victoria, or Working segment of people internationally, male or female. But in this research, we will be focusing nationally, to the students residing in Victoria since there is a precise and accurate data to back-up 2
compared to Myanmar's and there is a potential of growing segments to our market and if we were to take step ahead and build our own brand position in the market, we will attract a lot of customers. Statistically, there were only 356,338(15-19 years) in 2016 and 1,457,812 of (15-19 years) in 2021. Census (2021) Fit of the segment with the brand's identity/positioning Throughout the history, VANS has been specified in Street Style Culture, the normalization of running shoes for daily wears insured VANS into major competition with athletic brands like NIKE, ADDIDAS, PUMA and Reebok. There are also other indirect competitors such as Sandals and Flat Shoes since on some occasions they are more practical than athletic shoes. In this case, VANS' brand positioning is to be affordable and to be wearable in daily lives. Not to forget, our target market here is students of 15-19 years old and the sense of involvement in the skating community. Therefore, our new product must be fit in our brand positioning and the market segment. It is also crucial to note that, as much as benefits there are for the brand positioning, there is also some flaws. For instance, it can be a limitation for a brand in terms of innovation and marketing. Size and Growth As stated above, in 2021, Teenagers took up 5.7% of the overall population. And is the best segment for us marketers to focus on, if we were to expand our brand in other aspects. Here, we should also calculate consumers' willingness to pay, the maximum price at which a consumer is willing to pay for a certain product. Furthermore, when we analyzed the problems that is concerning teenagers nowadays, it is found that cost of living is a major concern for 58% of young Australians. Year13. (2022, August 23). Hence, we must ensure that our product affordability is fallen under price range and willingness to pay for major young students. Structural Attractiveness How can we, as a brand be more appeal to