Marketing managers at Academy are working to ensure this association Is continually developed. Key concepts of quality, taste and emotion underpin the Academy brand. These core values help to differentiate Academy from other brands and ensure its competitive advantage A brand is a complex symbol that can convey up to six levels of meaning 1 .
Attributes – a brand brings to mind certain attributes – Cherry Ripe – ripe juicy cherries and moist coconut smothered in rich ;old Gold’ Dark Chocolate – Crunchier – golden honeycomb smothered in Academy ‘Dairy Milk’ Milk Chocolate Flake – unique, delicate strands of crumbly, flaky Academy ‘Dally Milk’ chocolate – Picnic – combine delicate fingers of crisp wafers, temptation of chewy caramel with goodness of rice crisps, all generously encased in Academy chocolate – Roses – delicious mix of Milk and Dark chocolates, Ideal token gesture for any occasion ; Dairy Milk ; the goodness of a glass and a half of rich full cream milk in every egg, Australia’s favorite chocolate 2. Benefits – each brand’s attributes must be translated into functional and emotional benefits to the consumer our promise. Our reputation is built upon quality; our commitment to continuous improvement will ensure that our promise is delivered’ 4. Culture – For many people, chocolate is Academy, and no other brand will do 5.
Personality – taste, color purple and the glass and a half symbol all all hallmarks of Academy personality 6. Users – the kind of consumer or who buys or uses the product. Loyal customers are the most valuable customers to have because they will buy your product over and over again Brand equity – Brands vary in the amount of power and value they have in the marketplace – Brand equity is an asset – Academy brand equity is highly differentiated from other brands with consumers. Brand equity is the value consumer loyalty brings to a brand, and reflects the likelihood that a consumer will repeat purchase. This is a major source of competitive advantage.
Brand name decisions – Manufacturers and service companies who brand their products must choose which brand names to use – Academy brands include the Corporate name combined with individual names – The company name legitimates, and the individual name individualists the new product – A suitable name, must be chosen and registered; it must be unique to the product and in today’s business arena, it should be capable of international SE. Careful checks must be made to ensure that the selected name does not mean something different in other languages Brand-building tools Amongst the most important tools for attracting attention to Academy brands are: – Public relations and press releases – brands can gain a lot of attention from well- – Sponsorships – brands are frequently promoted in sponsored events.
Academy sponsor the Melbourne Cup Carnival, the animal nursery’ at the Royal Show, and the three time FALL premiership champion Brisbane Lions – Factory visits – Academy have factory tours in which they invite visitors to spend the ay at their Claremont factory in Tasmania – Event marketing – product launches – Social cause marketing – some of the projects that Academy support are the Students In Free Enterprise, Football and the Variety Club Brand strategy decision Generally a company’s brand strategy varies depending on whether the brand is a functional brand, image brand or an experimental brand – functional brands – are purchased to satisfy a functional need such as immediate eat I. E. Housecoat bars – image brands – arise with products or services that are difficult to differentiate, or to assess quality, or convey a statement about the user experimental brands – involve the consumer beyond simply acquiring the product Over time, each type of brand can be developed further. A company can introduce line extensions (existing brand name extended to new sizes or flavors), brand extensions (new brand names in existing product categories), multiplicands (new brand names introduced into same product category), new brands (new brand name for a new category product) and co-branding (combining two or more brand names) Brand auditing and positioning Academy need to periodically audit their brands’ strengths and weaknesses
It will occasionally discover that it may have to reposition the brand because of changing customer preferences What are Actuary’s key brands? The Academy Dairy Milk block is the company’s flagship brand There are many other favorites including Fruit & Nut and Hazel Nut, as well as Academy produces a variety of boxed chocolate assortments, most notably Milk Tray and Roses. Children’s lines include Australia’s long time favorites Freedom Frog and Caramel Koala. Famous Academy chocolate bar lines such as Cherry Ripe, Picnic, Flake and Crunchier also feature amongst Academy brands Are there different brands for different target markets? The Academy brand has a profound impact on individual product brands.
Brands have individual personalities aimed at specific target markets for specific needs e. G. Timeout, for example, is an ideal snack to have with a cup of tea Consumers know they can trust a chocolate bar that carries Academy branding The relationship between Academy and individual brands is symbiotic with some brands benefiting more from the Academy relationship, I. E. Pure chocolate brands such as Dairy Milk. Other brands have a more distant relationship, as the consumer motivation to purchase is ingredients other than chocolate, e. G. Crunchier. Academy has identified brand values and adjusts its advertising strategies to reflect these values in different markets.
Its strategy can vary from increasing brand awareness, educating potential customers about a new product, increasing seasonal purchases, or as is currently the case in the ‘Go Another Academy’ campaign to highlight the positive emotional value of the brand. How are the brand images related to Actuary’s overall positioning in the market? Customers come to know a brand through a range of contacts and touch points, particularly trough word of mouth, personal observation and use, and images through advertising and promotion The ‘taste’ of Actuary’s chocolate has long been the focus of Actuary’s advertising. This has been supported by the slogan ‘a glass and a half of full cream milk in every 200 grams’, accompanied by a picture of milk pouring into the Actuary’s Dairy Milk chocolate block. This was a tremendous advertising coup and has served the brand well for over 50 years.