New brand development is the process that is used to develop and create a product that is not linked or associated with any of the prior released brands in the market. Developing a new brand requires a sequential process to be followed and various strategies are also required to be implemented in order to develop the new products and the new brand (Shahrokh & Dadvand, 2014). This is the report that discusses about the new brand development process and the strategies that have been used to develop a product called Sabroso. It is a chocolate that is made up of dark as well as milk chocolate. Making and developing a brand like this require the management of the company to make certain decision that are discussed below:
There are two phases of brand development. One is brand definition and the other is brand looks and feel.
Logo:
The logo of the company is red in colour because the product includes wine in it. This logo of the products is justifiable because it is a chocolate product that involves wine and white chocolate as well. Sabrosos means yummy and this exactly what the chocolate is.
Features: As far as the features of this product are considered, it has been analysing that it is chocolate that is made up for adults and not for kids. Every time when the chocolate is talked about, all the conversation relates with the children or the kids but this is the chocolate that is made in order to target the adult audience as the chocolate involves wine in it. It is the most important feature of this chocolate. As it is the new company so the brand has release only one type of chocolate at once to see and observe the response of the audience.
Value proposition: value proposition is the statement that defines that why the market should accept and buy the products which the company is launching. It is the statement that makes the people aware about the associated value of the products. It has been analysed that brands have to associate some of the value to its products as well as to the rand name that compliments the brand and the product (Rosenbaum-Elliott, Percy & Pervan, 2015). The degree of closeness of brand, products and value proposition statement is very beneficial for the marketing purpose of the company. As far as Sabroso chocolate is considered, the value statement of the product and the brand is:
This clearly suggests that this brand is targeting the young and the adult generation and not the kids.
Target market can be defined as the market that is being targeted by the brand to sell the products. It is the group of people that are the most closely related customers of the brand. To target the market, it is required to segment the market in different grouse and then one of the sot close group or segment needs to be selected to target (Solomon, 2014). In this case, the segmentation is done on the basis of age. The group of age ranges from 16-35 has been targeted as this is the range of the people who loves to eat chocolate and wants to have that bitter taste in that which relaxes them.
Positioning of the brand is the process in which the brand is positioned in the market. By this process, an image of the brand and the products is created in the minds of the customers that forces or drives the sales of the product (Keller, Parameswaran & Jacob, 2011). In this case of Sabroso chocolate, the product is positioned as the chocolate that relaxes the minds and thus target the young audience only.
In order to develop a brand, it is required to follow a process in which various steps are involved. Following is the general process that needs to be followed by very company in order to launch a new products or the new brand (Kotler & Gertner, 2002).
Idea generation: The first and the foremost thong to develop a brand is the idea. It is required to generate an idea that is feasible and practical in nature. This can be response of the environmental conditions and may be the result of market needs analysis. In this case, the idea of creating and developing chocolate products has been generated.
Screening: It is time when the ideas that has been generated are screened to analyse its profitability and relevancy to the market (Verhoef, Lemon, Parasuraman, Roggeveen, Tsiros & Schlesinger, 2009). This is the time to take the decision over ideas of the business.
Concept generation: The concept behind the idea of business has been developed to take the approval from the different stakeholders.
It is the stage of action where the new products need to be developed (Burmann, Riley, Halaszovich & Schade, 2017). There are various decisions that need to be made in order to develop the new products or brand. Four major branding decisions that are required to be taking are discussed below:
Brand positioning is the process that helps the brand to position its products in the minds of the customers (King & Grace, 2006). It helps in developing a certain image of the products in the market that links with the brand for long. The positioning can be done on three levels:
The first level is the product’s attribute level. Attributes of the products includes the features of the products.in case of Sabroso chocolate, the attributes involves its ingredients, its taste etc. this is the level that is not commonly used as the layer to position the brand in the market (Fernández-Blanco & Mediavilla, 2017). This is because the competitors of the brand or the products can easily imitate the attributes of the products. Showcasing the attributes cannot work until the features are extremely innovative and cannot be copied by anyone which is next to impossible (Douglas, Craig & Nijssen, 2001). The second level is benefits of the products. A brand can be positioned very well by showcasing its benefits and thus it is the best way to position the brand. The last level is the most effective level that deals with values and beliefs. This helps the brand to position the products as per the emotional attachment and values.
In this case, the decision that has been made is based on value of the product. It is the product that is positioned as the relaxing chocolate that relaxes and calms the mind of the customer and targets the young generation (Leonard, 2011). This is because of the ingredients such as wine and caffeine. This makes the customers feel fresh and refreshing.
There are various decisions that are required to be made when a new brand develops and selecting the name of the brand is the most obvious and the most important decisions to be made.it is the most important and the difficult task to select the name of the brand. This is because; it is required to select the name that is attractive as well as relevant to the features of the products as well as the positioning statement of the product. There are some of the guidelines that need to be followed at the time of making the name selection decision.
(Carlile, 2002).
The brand name that is selected for the chocolate in this case is Sabroso. Sabroso means yummy which exactly projects that the chocolate that the brand is launching is tasty and yummy in taste. The sign or the logo of the brand is wine in colour and project that the products also contain the essence of wine in it. The sign of “S” in logo is very attractive.
There are four options that are available for the brand to make the decision over the sponsors of the brand.
Manufacturer’s brand: It is the option in which the product is sold as the manufacture brand. The brand name in this case is given by manufactures only (Berthon, Ewing & Napoli, 2008).
Private brand: it is the type of sponsorship where the manufacture sells the products to the resell and they put their own private brand logos on the product.
Licensed brands: It is the type of sponsorship where the manufacturer links the name of the already existing brand to the products.
Co-brand: It is the type where the two different companies claim for the products. The product is sponsored by the two different companies in this case (Blain, Levy & Ritchie, 2005).
As far as this case is considered, it has been analysed that it is the type of manufacturer’s brand. This is because the manufacture has given its own brand name to the products and selling the product directly to the market.
Brand development strategy: It is the most important decision to be made in order to develop a new brand. The options that are available in this case are line extension, brand extension, multi-brand and new brand. In the option of line extension, the brand that already exists in the market is extended to launch a variation of the product. In case of brand extension, the already existing brand release the new product with the name of the old brand and the products category may be different (Van Gelder, 2004). Multi-brand is another option that suggests that many brands are marketed under a similar big brand name. The last one is the new brand development in which a new product is launched in the market with the mw brand name which is not associated or linked with any of the old brand or product.
Extension is the strategy where the brand name already exists and product category is also exiting only the variation in the products occurs. In brand extension, the brand name is same but the products category in which the products are launches can be new. The third strategy that is multi brand strategy suggests that new brand is being launched in the already existing products category of the brand (Zeriti, Robson, Spyropoulou & Leonidou, 2014). The last one is the strategy that deals with developing the new brand along with new product category.
In this case of Subroso chocolate, new brand development decision has been made to develop the product.
Only developing the brand is not enough. It is required to manage the brand so that it can be sustained in the market and serve the customers with same efficiency. This requires the brand to apply some of the brand management theories. There are many three theories that can be applied or implemented by the brands:
In this case, the value based theory can be applied as the products that have been developed in the business may face great competition. This is because many similar products and chocolate brands are available in the market and attracting the customer in such great and tight competition is very difficult.
When any of the brands need to market its products overseas then it has to adopt any one of the internationalisation strategies of branding in order to market the products in the global market. There are two major types of strategies that can be adopted by the companies. The first strategy is the adaptation strategy and the second one is the standardization strategy.
It is the strategy that deals with selling the local product in the foreign market with similar product features. The major aim of using this strategy is to reduce the cost of internationalisation. Economies of scale in this strategy results in reduced per unit cost of the products and also for branding as well. The company need not to make many more efforts in specialising the strategies for different countries and market (Carlile, 2002).
It is the strategy that deals with adapting the local culture of the foreign country in order to sell the products. Adopting this stage of localisation helps the company to make relationship with the local people of the foreign country where the brand wants to extend its business (Hultink, Griffin, Hart & Robben, 1997).
In this case, standardization strategy has been sued in order to serve the global market because the company is new and cannot afford to adapt new strategies everywhere. Chocolate is the product that is loved by al and thus it is not required to sell it in variations.
Conclusion:
It has been concluded from the decision that new products and brand development is the difficult process and requires many decisions to be made. It also required applying many strategies in order to develop a new product. The new product that has been made in the above report is Sabroso Chocolate that has wine essence in it and targets the young age customers. Value based branding theory has been used in this business to develop long term relation with the customers. It has been analysed that the strategy of standardization is appropriate for Sabroso because chocolate is the thing that can be loved by all the customers irrespective of culture and place.
References:
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