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Young Marketers Elite 2013 - Assignment 6.1 - Ba Loc - Ngoc Tram
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Young Marketers Elite 2013 - Assignment 6.1 - Ba Loc - Ngoc Tram

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  • 1. ASSIGNMENT 5.1 BRAND INNOVATION NGUYEN BA LOC & NGUYEN NGOC TRAM
  • 2. WHAT IS BRAND INNOVATION? DEFINITION incremental changes to products, processes or services, and like most business functions, is a management process that requires specific tools, rules, and descipline. PURPOSE 1. Filtering out weaker projects which may not offer high potential for success at an early stage. 2. Maximising the chance of success for potential innovations. 3. Managing all activity and investment. 4. Ensuring the business has a balance of projects delivering growth in all areas. 5. Ensuring we’re covering the right areas at the right time. THE DIFFERENCE BETWEEN CREATIVITY INNOVATION The thinking process by which we generate ideas The process of harnessing creative ideas to meet business needs (Source: Unilever Marketing Foundation handbook – Innovation Process Management) BRAND INNOVATION BRAND INNOVATION Is the successful exploitation of new ideas, it refers to both radical and
  • 3. BRAND INNOVATION MIX Example PRODUCT INNOVATION PRODUCT INNOVATION COMMUNICATION PRICING INNOVATION INNOVATION Customers desire the screen with compact design, lightweight, take up less space, good picture quality, consume less energy than traditional CRT monitors  In 1970, the first LCD TV was innovated by SAMSUNG BRAND INNOVATION MIX COMMUNICATION INNOVATION PACKAGING CHANNEL INNOVATION INNOVATION PROCESS INNOVATION Paragraph FIRST TVC in the world are found in the U.S. on 07/01/1941 with 10s time to advertise for Bulova watches
  • 4. BRAND INNOVATION MIX (cont) Example Example PACKAGING INNOVATION CHANNEL INNOVATION  In Vietnam, TIKI is the bookstore that customers can buy books directly on internet. Consumers told P&G they did not like small, cracked, broken piecies of chips that settled in the bottom of the bags.  Pringles changed their packaging to meet customers’ need. PROCESS INNOVATION PRICING INNOVATION 1st  Dell customized each PC to customers’ specification  WALMART offer competitively reduced price
  • 5. BRAND INNOVATION PROCESS Ideas Feasibility Capability What should we do? Can we do it? Roll-out Contender Market Ready/ Market deployment Make sure we can do it! Let’s do it! Post-Launch Evaluation L A U N C H Was it a success? Recommend others to do the same Roll-out Launch On shelf in first market(s) Contract Charter GATE WHAT IS IT? Ideas At this phase, projects handled by Innovation Centres and Brand Development will pass through – and get license from National Business Unit. This is the gate between Feasibility Phase and Capability Phase, its purpose being to decide on investing capital and marketing mix costs. This is the gate between Idea Phase and Feasibility Phase where decision is made whether to invest in a project team. At this phase, most projects are created and remain following review at the Gate Meeting if re-work is required or if company resource is not available to pursue it.
  • 6. BRAND INNOVATION PROCESS – EXAMPLE MCDONALD’S BRAND INNOVATION INSIGHT: As parents, we want our children to enjoy their food, but are often concerned about the nutritional value of processed food and the long team effect it has. Ideas Feasibility What should we do? Market Ready/ Market deploym ent Capability Can we do it? 1. McDonald’s Vitamac 2. McDonald’s Mom‘s choice 1. McDonald’s Vitamac 2. McDonald’s Mom‘s choice 3. Healthy menu for kids without cholesterol & fat Make sure we can do it! 1. McDonald’s Vitamac Let’s do it! PostLaunch Evaluation L A U N C H Was it a success? Recommend others to do the same Roll-out Launch Contract Roll-out Conten der On shelf in first market(s) Charter GATE Ideas * The detailed explanation is in the next slide
  • 7. BRAND INNOVATION PROCESS – EXAMPLE A delicious burger that contains the amount of Vit A & C a child needs to maintain their health. Keep child’s happy and parents’ peace of mind Ideas Parents can choose customized burger’s nutritional ingredient that they think it’s good for their own childs. A delicious buger doesn’t contains cholesterol and fat, healthy for kids. 1. McDonald’s Vitamac Feasibility 2. McDonald’s Mom‘s choice 3. Healthy menu for kids without cholesterol & fat 1. McDonald’s Vitamac 2. McDonald’s Mom‘s choice 3. Healthy menu for kids without cholesterol & fat Kick out this idea because of flavour changing Change the taste  Not feasible Capability 1. McDonald’s Vitamac 2. McDonald’s Mom‘s choice 3. Healthy menu for kids without cholesterol & fat Kick out this idea because of significantly increasing the cost (Mar Mix & over the investment budget)  Not capable Market Ready/ Market deployment At this phase, projects handled by Innovation Centres and Brand Development will pass through – and get license from National Business Unit. LAUNCH MCDONALD’S VITAMAC