Newcastle Business School
EXAMINATION
GSBS6005 Marketing Management and Planning
营销管理与规划代考 Read the case BACARDI and answer the following questions in the examination booklet. Don’t get stuck on one question.
This paper is for NCLE_CITY, GOSFORD and SYD_BATHST students.
Examination Duration: 120 minutes
This exam has _6_ questions
Exam Conditions:
This is a FORMAL examination
This is a RESTRICTED OPEN book examination
Notes permitted – Refer Materials Permitted
No calculators are permitted
PART I: SHORT-ANSWER QUESTIONS (30 Marks). Each of the following short-answer questions weights 10 marks. Please answer all questions.
Explain what is meant by an information search. How would a consumer conduct an information search for the purchase of a new laptop? 营销管理与规划代考
Choose a major, well-known firm that has repositioned itself. How has it repositioned its products or services in response to marketplace changes? Explain your answer.
Explain the difference between the core product and the augmented product. How would a marketer of a car brand increase market share using the augmented product?
PART II. CASE ANALYSIS (70 marks). Read the case BACARDI and answer the following questions in the examination booklet. Don’t get stuck on one question. Please attempt to answer all of them.
1.Use appropriate segmentation basesto identify and describe Millennials and younger drinkers as target markets for Bacardi (20 marks).
2.Why are Millennials such an attractive and important targetmarket to Bacardi, particularly compared to Generation X and Boomers? Explain (20 marks).
3.Analyse and discuss Bacardi’s positioning strategyto target Millennials and younger drinkers. Do you agree with Bacardi? Justify your answer (30 marks).
Three moments in Bacardi’s Brand Development 营销管理与规划代考
1.Untameable Since 1862: Bacardi Emphasizes its Rich Brand Heritage
Like many booze brands, Bacardi rum has spent a lot of its marketing money playing up its heritage in recent years. Ads told tales of how the 153-year-old brand survived Prohibition, its exile from Cuba and disasters like earthquakes, fire and war.
Bacardi is known for its passionate drive, regardless of circumstance, convention or expectation. The campaign pays tribute to the brand’s enduring popularity, continuing ingenuity and connects with consumers as it inspires them to ignite the bold, ‘Irrepressible Spirit’ within us all, said Dmitry Ivanov, senior global category director of rums for Bacardi. He also added: Taking a global creative approach allows us to focus all of our marketing resources against a single powerful idea; an idea that’s completely ownable to Bacardi as it is rooted in the brand’s history and the Bacardi family’s attitude to life.
2.”There’s Nothing in the Way”: How Bacardi plans to dominate Rum once again 营销管理与规划代考
Bacardi Limited Chief Marketing Officer Mauricio Vergara is helping lead a mission to make his brands relevant again, and to him, that means reinforcing their presence in their customers’ lives—even after the 2017 New Year’s Eve ball drops. “We need to get our brands back into culture, so we’re moving away from a traditional marketing model of talking to consumers to really being part of their lifestyle”. “It’s not a traditional road—have a TV advertisement or a traditional banner—but it’s more about experiential marketing. So it’s a completely different approach.”
However, in a sign that younger drinkers might be tiring of the old storytelling of a brand’s tradition, Bacardi is taking a sharp turn into the here and now with a new campaign that will be backed by a major media investment. The effort will retain the line “Bacardi: Untameable Since 1862”, but a new TV ad avoids the past entirely. Instead, the spot (in the pic) features a mobile house party that trucks along scenic highways and byways with revellers inside.
The brand — whose sales have slumped in recent years — is projecting its bold new ambitions in a statement about the new campaign and declares Bacardi wants to “dominate the category once again.” While Bacardi is still the top U.S. rum by volume market share, sales have been sagging. The brand’s share fell to 34.3% last year according to Euromonitor International. That is off their peak share of 39.7% in 2005, according to Euromonitor. The No. 2 U.S. rum brand, Diageo’s Captain Morgan, has also lost share in recent years as smaller brands gain ground.
Bacardi’s new approach will “go harder at embedding our brands back into culture,” Mauricio Vergara, Bacardi Limited’s chief marketing officer for North America and the global lead for the Bacardi brand, said in an interview.”
We have one of the most iconic brands in the industry, but over the last few years we were not really connecting as effectively as we could with our target consumers and the new millennial.” Mr. Vergara said the Bacardi brand will not entirely abandon its heritage approach, which has paid tribute to the survival skills of the founding Bacardi family. The historical approach will be more targeted, he said. “It cannot be the only message”. “That cannot be what we build a brand on.” He added: “The idea has to be something that resonates with the consumer and they can relate to.” 营销管理与规划代考
The first ad seeks to link Bacardi to house parties, while future ads will target bar occasions, Mr. Vergara said. Bacardi will start an east coast “House Party Tour” that will involve bringing a mobile house to Philadelphia, Washington, D.C., Atlanta and Miami. The brand plans to collect content from the invitation-only parties that it will spread widely on social media.
A tagline in the TV spot, “There’s Nothing in the Way” is described in the statement as a “tribute to the brand’s history and irrepressible spirit” but also a “shout out to those who are busting through and overcoming obstacles in the real world.”
The campaign includes a partnership with Vice Media for sponsored content that will spotlight the “passion projects” of several musicians. Hip-hop duo Run the Jewels will be featured alongside a new music app, for instance. Bacardi also plans to put content on Facebook’s new mobile ad format.
Ads using the format are initially displayed in a news feed but once clicked take viewers to a web page-like screen that can include videos, photo carousels and interactive images. Bacardi, which called the feature an “immersive canvas,” is the first alcohol brand to use the format, according to the brand. Mr. Vergara declined to reveal total spending on the campaign but said the investment would be “way, way above what we have done in previous years.” One goal, he said, is to make Bacardi more of a lifestyle brand by using an “always-on” media approach, rather than singularly targeting the peak rum seasons of the summer and winter holidays.
3.Bacardi diverts more resources to Digital: Making the Brand Relevant once again 营销管理与规划代考
Meanwhile, the company has increased its advertising budget, spending close to $30 million on paid ads in the first half of 2018. In a bid to better understand the customer journey, Vergara has shifted 20 to 30 percent of the company’s marketing budget year over year away from TV into consumer data and social media. “We’re still doing investment in traditional media because we have mass brands, but the shift is a big one,” he says. “It’s a huge shift.”
He has also instituted an always-on approach that doesn’t follow the traditional, holiday-centric calendar for spirits marketing. As you may notice in the coming months, Vergara will have the brands advertising in lighter doses throughout the year. “If we are true to that philosophy of being part of their lifestyle, a brand that they actually relate to their day-to-day life, then we cannot just be present only in the high-selling moments” Vergara says.
Vergara is also proud of Bacardi virtual turntables on Instagram, which let fans become DJs with the flick of their fingers.
While BBDO NY called it a “hack” in its promotional video, Vergara admits that this experience was not one that just any brand could create on the fly. It was a strategic play, “but it’s not an in-your-face thing.” Bacardi is making activations that provide brand touchpoints for every moment of a consumer’s night out, says Vergara. First, she checks Facebook to plan where she’s going, and sees an Immersive Canvas ad. When she’s out, she’s snapping pics with her friends, using Bacardi’s hanging bat Snapchat filter. The next day, she’ll use Instagram to post #latergrams of what happened last night and maybe take a moment to play DJ on Bacardi’s turntables. 营销管理与规划代考
“It’s more about how do we engage with consumers in the right time with the right platform,” Vergara says. “They engage with our brands all year, so the high-selling periods will continue to be very important, and that’s maybe when we go heavier on TV and massive reach media, but then, through the rest of the year, we’re going to focus on social, digital, experiential. It’s been a learning process; not everything has been perfect. But we’re definitely seeing the payback.”
END OF EXAMINATION
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