I’m studying for my Marketing class and need an explanation.
Brand Analysis Project
Choose an industry ( smart phones) and select three well
known brands ( Apple I-phone 11, Samsung Galaxy 10, Google pixel 4).
(1) Provide an overview of the industry. What is the $ size of the market in the USA? Is it considered a high growth or slow growth market (percentage growth in dollar sales, unit sales, etc.)? What are the categories in the industry that are showing most growth, which are showing a decline . How many competitors are there? Who are the market leaders, and what is the market share for each of the three brands?
(2) Identify the key product attributes and benefits that the consumer uses to infer the value of each brand (e.g. price, comfort, durability, etc.). You should identify at least 5 attributes/benefits.
(3) Identify the key consumer segments in the industry and develop a profile for each segment (minimum of 4 segments, maximum of 7). What key product attributes and benefits does each segment prioritize?
(4) Develop multiattribute tables for three segments, using the information provided in section (3) above (you can make assumptions about the importance and evaluation numbers for each segment, it is not necessary to collect primary data). Hint: choose one segment that each brand targets (e.g. Nike–fashionistas, Adidas–soccer fans, Brooks–serious runners)
(5) Use the multiattbiute table to compare and contrast the three brands for these threesegments:
a.Identify the strengths and weaknesses for each brand.
b.What is each brand’s POD and POP?
c.What consumer segment(s) does each brand target?
d.Articulate the positioning statement for each brand.
(6) Develop a perceptual map based on two key attributes/benefits and determine where the three brands and the key consumer segments are placed on this map. Provide a rationale for your assumptions (you can use some of the multiattribute table data to develop the perceptual map).
(7) Which of the three brands do you think has the best strategy? Which has the worst strategy? Why? What would you recommend each brand do to strengthen their position in the market?