ADVT 5410 Assignments and Discussion Questions

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5410

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Marketing

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Apr 3, 2024

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ADVT 5410 Assignments and Discussion Questions Book Citation: Holt, Douglas, and Douglas Cameron. Cultural Strategy: Using Innovative Ideologies to Build Breakthrough Brands . Oxford University Press, 2010 WEEK 1: Cultural Strategy According to Holt and Cameron, cultural strategy directs the details of brands’ cultural expression, it provides considerably more structure and guidance to the “creative” aspects of branding (14). Brand development is a multifaceted process involving a critical aspect of leveraging cultural insights and trends. This process highlights the importance of comprehending and aligning with consumers' values, beliefs, and behaviors. This understanding is crucial for creating more effective campaigns, initiatives, or brands that resonate better with consumers. Cultural strategy is essentially a means of solidifying the connection between businesses and their consumers. It does so by ensuring that advertising materials are appropriately adjusted to suit the intended audience. Today's society demands that brands should be proactive in their marketing and advertising. Conventional strategies often prioritize the forms of media over cultural influences and place the cultural environment as secondary or an afterthought. However, by adopting a cultural strategy, brands can respond to societal changes more effectively and stay ahead of the game. WEEK 2: The Elements of Brand Equity Brand equity is an essential aspect of any business the three elements I believe are of the utmost importance are awareness, differentiation, and loyalty. Without awareness, a potential customer would not even know about a brand's presence. This makes awareness the primary and most crucial element of brand equity. Differentiation is equally important as it enables a brand to distinguish itself from others in the market. This helps to create a strong connection between the brand and its customers by answering the benefits and customer solutions. Lastly, brand loyalty is a significant force that can act as a foundation for the brand-to-consumer connection. When customers trust a brand, based on their loyalty, it benefits both parties in the end. Though each of the seven forces is important in its way, I believe that awareness, differentiation, and loyalty are the most critical ones. TikTok is a brand that effectively uses the three elements mentioned above. The social media platform experienced a surge and rebranding during the pandemic and entered the scene with short videos, trendy dance challenges, and popular music. Its unique algorithm can optimize both content and recommendation and has been copied by other platforms. With over 1 billion monthly active users, it is clear that there is great awareness and understanding of what TikTok is and the impact it has. TikTok is so unique

that popular platforms like Facebook, Instagram, and YouTube have created products and expanded their services to compete with it. It focuses on short- form video content and makes video editing accessible and easy by having editing capabilities directly in the app. The “for you” page allows for personalized content recommendations which make the platform even more engaging. WEEK 3: Aaker vs. Holt/Cameron Jack Daniel's is more than just a whiskey, it is a cultural icon that has successfully tapped into and leveraged iconic American cultural archetypes. In "Cultural Strategy," Holt and Cameron analyze how the brand has forged deep and lasting emotional connections with consumers by portraying itself as a symbol of authenticity, masculinity, and rebellion (51). By framing the brand within this cultural context and emphasizing storytelling, Jack Daniel's has created a timeless appeal. However, to stay relevant and continue captivating audiences brands need to adapt and evolve. David Aaker approaches brand strategy with an emphasis on brand relevance and innovation. Applying Aaker's perspective to Jack Daniel's, it is crucial to continually innovate and adapt to changing consumer preferences and market dynamics. While the brand's historical and cultural significance is valuable, expanding into new categories and subcategories to appeal to a wider range of consumers can ensure the brand remains relevant to modern sensibilities. By doing so, Jack Daniel's can continue to captivate audiences and remain a cultural icon for years to come, which compliments Holt and Cameron's approach nicely and, in turn, amplifies the overall brand strategy. WEEK 3: Current Trends in Brand Strategy HubSpot surveyed over 1000 companies to produce The Marketing Trends of 2023 [Highlights], and to look at this list and question if the brand strategy is reverting to a time where functionality and problem-solving reign supreme, is intriguing. Ensuring that consumers receive a positive experience that conveys a company’s brand values that’s equally emotionally engaging and/or triggering has found its way into the marketing tactics of 2023. Referencing number six on HubSpot’s list, that more companies will prioritize social responsibility, “the trend is clear: social responsibility, ethics, and transparency matter to the modern consumer” (Bump). When companies authentically advocate for social issues and dedicate social media strategies to showcasing inclusive initiatives, they’re making that first a visceral connection to consumers—and then something more enduring, by following through on their efforts. Experiential marketing provides an immersive experience for audiences and is often pop-up shops or virtual events. Functional branding is about invoking

positive experiences and ensuring each interaction is a branded experience for consumers, and experiential marketing pushes the boundaries on that, in a modern way. Having audiences immersed in the experience of the brand to show how the brand problem solves or can help you is a revolutionary way to engage customers. I believe that current trends in brand strategy are expanding on strategies of the past because of innovation, greater resources, and knowledge available. Bump, Pamela. “The Top Marketing Trends of 2023 & How They’ve Changed since 2022 [Data from 1000+ Global Marketers].” HubSpot Blog , HubSpot, 21 Nov. 2022, blog.hubspot.com/marketing/marketing-trends. WEEK 5: Cultural Strategies of Ben & Jerry’s and Starbucks Ben & Jerry's and Starbucks both have a rich history, having been founded in the 1970s. Over the years, they have developed unique cultural strategies that set them apart from each other. Ben & Jerry's has always placed a strong emphasis on activism and social responsibility. The founders of Ben & Jerry's were pioneers in their brand's social and environmental commitment. They demonstrated this by partnering with Farm Aid in 1991 to save family farms. They also printed messages in support of the cause on all of their pint containers. On the other hand, Starbucks has focused on creating a refined and globally standardized coffeehouse experience. Starbucks' approach to corporate social responsibility was initially reactive. They began to prioritize it in response to external pressure, purchasing a small amount of fair-trade coffee after pressure from Transfair USA. Despite their differences, both brands share similar values. However, they approached cultural strategies differently. Ben & Jerry's has always projected a playful and socially conscious image. In contrast, Starbucks projected sophistication and an urban lifestyle, attracting a different kind of customer. Starbucks Positioning Statement Who: Starbucks What: serves specialty coffee, handcrafted beverages and foods For Whom: to middle- and upper-class, males and females, aged 18-60 years old, educated, socially aware, and active What Need: provides a warming, intimate atmosphere and high-quality products Against Whom: high-traffic, rapid service coffee, food and retails stores What’s Different: creates a third-home value proposition

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