Dimensions of Brand Equity for Nestle Crunch Bar
Essay by nanballesteros • February 8, 2015 • Essay • 511 Words (3 Pages) • 1,925 Views
Case of study: Dimensions of Brand Equity for Nestle Crunch Bar
Introduction
Nestle Crunch Bar has made a market research study with 10 of their consumers to understand their thoughts and feelings about Nestle Crunch candy bars. Nestle Crunch bar has been bringing a long history and childhood memories to Americans specially focused towards older demographics and it is also recognized by the sameness of its colors and flavor, identified as the core elements that made Nestle Crunch unique.
Identification of issues / opportunities
Issues that might be considered include:
- Merits of changing the product
- Design and execution of communication strategy
- How consumers who buy the brand infrequently might be encouraged to use it more often?
- How would mental model be re-engineered?
- How would existing loyalties be reinforced and new consumers be found?
External analysis
Chocolate bars are considered as impulse buys due to how inexpensive and readily available they are. However, consumers are now watching what they eat, avoiding products that have been considered as high in calories. The purpose of this research was to explore dimensions of brand equity for a low cost food product. Brand equity is defined as the value of the relationship between a consumer and the brand. Research process consisted in:
- Recruitment
- Letter of instructions
- One-on-one interviews
Consumers participated in this project were:
- Ten consumers
- Men and women
- Between ages of 31 and 55 (average age was 41)
- Average income was $35,000
- Most of them had post-secondary education.
- Most participants reported spending about 4 hours thinking about their assignment and colleting images for the interview.
- Most interview were running about 2 hours.
Internal analysis
The research team focused on what consumers were not saying that they might have been expected to say in three steps:
- Told as a story by consumer
- Story was represented diagrammatically with implicit associated factors.
- Identify factors were associated with mental model (common story,
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