BRAND MANAGEMENT:
BRIEF (DESCRIPTiON OF PROJECT): We had to choose a well-known brand and come up with a brand extension. I chose Spotify and my brand extension was #SpotifySounds (a music speaker).
TASK- Analyse Spotify’s current music streaming market and establish a viable brand extension that leverages upon Spotify’s core brand values, brand identity and brand personality, in order to develop a USP. Draw upon Keller’s brand equity, Aaker’s personality model and Kapferer’s brand identity prism in order to build a strong case for Spotify Sounds being an attractive market opportunity.
IDEA: SPOTIFY SOUNDS, ‘Spotify Sounds’ is the most attractive market opportunity because Spotify is already well distinguished within the streaming market, as a market leader(Mintel, 2018) it means that there will be potential for lower product costs due to economies of scale(Porter,1980) and the possibility for a longer product life cycle(Ansoff,1965), this is reflected by Spotify’s strong brand awareness and consumer loyalty.
MEASUREMENT- To measure the success of Spotify Sound’s brand launch, Spotify could implement Halometrics software, which incorporates sensors and algorithms to anonymously track visitor movement within a shop, in order for this to work successfully Spotify will need a section dedicated to its existing products, within the John Lewis department store. Further research implies that retailers will be able to track which devices are getting the most attention and which aren’t, brands can also be reassured through this measurement system that their devices are powered and active at all times(WIFI HIFI 2017).
PROGRAMS USED: CANVA/PHOTOSHOP
DATE OF PROJECT: DECEMBER 2018
TASK- Analyse Spotify’s current music streaming market and establish a viable brand extension that leverages upon Spotify’s core brand values, brand identity and brand personality, in order to develop a USP. Draw upon Keller’s brand equity, Aaker’s personality model and Kapferer’s brand identity prism in order to build a strong case for Spotify Sounds being an attractive market opportunity.
IDEA: SPOTIFY SOUNDS, ‘Spotify Sounds’ is the most attractive market opportunity because Spotify is already well distinguished within the streaming market, as a market leader(Mintel, 2018) it means that there will be potential for lower product costs due to economies of scale(Porter,1980) and the possibility for a longer product life cycle(Ansoff,1965), this is reflected by Spotify’s strong brand awareness and consumer loyalty.
MEASUREMENT- To measure the success of Spotify Sound’s brand launch, Spotify could implement Halometrics software, which incorporates sensors and algorithms to anonymously track visitor movement within a shop, in order for this to work successfully Spotify will need a section dedicated to its existing products, within the John Lewis department store. Further research implies that retailers will be able to track which devices are getting the most attention and which aren’t, brands can also be reassured through this measurement system that their devices are powered and active at all times(WIFI HIFI 2017).
PROGRAMS USED: CANVA/PHOTOSHOP
DATE OF PROJECT: DECEMBER 2018
spotify sounds logo
billboard template
Spotify Sounds Interactive Billboard
Spotify Sound’s promotional strategy will adopt two different techniques: The first will be interactive digital billboards at bus stops across the UK(whilst it is in its innovation stage and will scale out to other countries as the product generates more popularity). The billboards will include QR codes and when scanned it will transport the consumer to Spotify’s e-commerce website where they can purchase Spotify Sounds. The use of the hashtag #SPOTIFYSOUNDS will create a positive buzz(Accenture 2013) around the new speaker and will allow Spotify Sounds to be at the forefront of conversation on social media.
Additional research (tows, brand equity and brand identity)
References
Accenture, (2013), “WHO ARE THE MILLENNIAL SHOPPERS? AND WHAT DO THEY REALLY WANT?, Accenture, Available from: https://www.accenture.com/t00010101T000000Z__w__/gb-en/_acnmedia/Accenture/Conversion-Assets/Outlook/Documents/1/Accenture-Outlook-Who-Are-Millennial-Shoppers-What-Do-They-Want-Retail.ashx#zoom=50, [Accessed 8th December 2018].
Ansoff H. I. (1965). Corporate Strategy: Analytical Approach to Business Policy for Growth and Expansion. [Online], 1st edition, New York: McGraw-Hill, [Accessed 11th December 2018].
Kapferer, J. (2012) The New Strategic Brand Management: Advanced insights and strategic thinking, [online], 5th Edition, London: Kogan Page, [Accessed 17th November 2018].
Keller, K. L (1998), Strategic Brand Management: Building, Measuring and Managing Brand Equity, [online], Englewood Cliffs, NJ: Pearson Education, [Accessed 13th December 2018].
Mintel, (2018), “Media Trends Autumn- UK September 2018”, Available from: http://academic.mintel.com/display/917402/?highlight#hit1 ,[Accessed 12th December 2018].
Mintel, (2018), “Media Trends Spring- UK March 2018”, Available from: http://academic.mintel.com/display/886249/?highlight , [Accessed 9th October 2018].
Mintel, 2018, “Music and Other Audio - CDs, Streaming, Downloads & Podcasts - UK - April 2018”, Available from: http://academic.mintel.com/display/859067/?highlight, [Accessed 3rd December 2018].
Porter, M. E. (1980). Competitive strategy: Techniques for analyzing industries and competitors. [online], 1st edition, New York: Free Press, [Accessed 10th December 2018].
WIFI HIFi, (2017), The Millennial Issue, Available from: http://wifihifi.dgtlpub.com/issues/2017-11-30/pdf/wifihifi_2017-11-30.pdf, [Accessed 8th December 2018].
Accenture, (2013), “WHO ARE THE MILLENNIAL SHOPPERS? AND WHAT DO THEY REALLY WANT?, Accenture, Available from: https://www.accenture.com/t00010101T000000Z__w__/gb-en/_acnmedia/Accenture/Conversion-Assets/Outlook/Documents/1/Accenture-Outlook-Who-Are-Millennial-Shoppers-What-Do-They-Want-Retail.ashx#zoom=50, [Accessed 8th December 2018].
Ansoff H. I. (1965). Corporate Strategy: Analytical Approach to Business Policy for Growth and Expansion. [Online], 1st edition, New York: McGraw-Hill, [Accessed 11th December 2018].
Kapferer, J. (2012) The New Strategic Brand Management: Advanced insights and strategic thinking, [online], 5th Edition, London: Kogan Page, [Accessed 17th November 2018].
Keller, K. L (1998), Strategic Brand Management: Building, Measuring and Managing Brand Equity, [online], Englewood Cliffs, NJ: Pearson Education, [Accessed 13th December 2018].
Mintel, (2018), “Media Trends Autumn- UK September 2018”, Available from: http://academic.mintel.com/display/917402/?highlight#hit1 ,[Accessed 12th December 2018].
Mintel, (2018), “Media Trends Spring- UK March 2018”, Available from: http://academic.mintel.com/display/886249/?highlight , [Accessed 9th October 2018].
Mintel, 2018, “Music and Other Audio - CDs, Streaming, Downloads & Podcasts - UK - April 2018”, Available from: http://academic.mintel.com/display/859067/?highlight, [Accessed 3rd December 2018].
Porter, M. E. (1980). Competitive strategy: Techniques for analyzing industries and competitors. [online], 1st edition, New York: Free Press, [Accessed 10th December 2018].
WIFI HIFi, (2017), The Millennial Issue, Available from: http://wifihifi.dgtlpub.com/issues/2017-11-30/pdf/wifihifi_2017-11-30.pdf, [Accessed 8th December 2018].