Question
QUESTIONS: 1. Company Name : CompanyNameHere 2. Company location(s): City, St of their locations 3. Research your company's products and current branding using Google, reviews,
QUESTIONS:
1. Company Name: CompanyNameHere
2. Company location(s): City, St of their locations
3. Research your company's products and current branding using Google, reviews, and other sources. Explain if your company's products have a high or low brand equity based on your research and the competition.
4. Based on possible sales and performance of your company determine the brand value of your company's products. If there is no viable financial information available, identify what information you would need to make this determination.
5. Anything else you notice about your company's branding? Do they co-brand? Do they manage multiple brands?
6. What recommendations would you have for them to improve their brand image?
Make sure to use and bold at least 1 marketing term from your reading. (multi-brand, store brand, national brand, line extension, test marketing, commercialization, customer-centered/team-based new product development, product life cycle, style, fad, etc)
Include at least 1 reference and citation where content is used.
INFORMATION:
The company:
Company Name: M Street Baking Company Company location(s): Howell, MI Novi, MI Auburn Hills, MI This company offers cakes, cupcakes, milkshakes, and other baking items. Their site says "M Street Baking Company is a committed team of talented individuals who provide superior quality baking, milkshakes, custom cakes, and cupcakes". Although they are advertising custom things for all ages, I feel the target market or audience is children. The website shows a lot of colorful and child-like cakes and whatnot that would attract the attention of younger children more than anyone. I recently discovered this place and was amazed at how aesthetically pleasing their shakes and cakes looked when going to the Auburn Hills Location. After actually tasting their shakes and cupcakes, I realized how amazing they were and how successful the company could be if they expanded more. Also, they are still a new company that I would like to see blossom and possibly look into a product/market expansion grid, this will take this company to the next level. Initially, upon learning about it, I was extremely excited to try it out and I was surprised that I had never heard of it up until this point. I immediately felt like the company could be very successful and an excellent investment. They had great products for affordable prices. This company's mission statement: "is to provide all of our customers with an unparalleled product and experience. We maintain a creative work environment, which respects diversity, new ideas, and hard work." They say their values are "creativity, innovation, and the desires of our customers! Every guest is our #1 priority and we do our best to ensure that everyone gets the best service possible!" I believe they are standing out and showing how customers are significant to them. Their business seems to be booming, resulting from great strategic planning, which is very important in a business. Also, they have a huge social media presence on Facebook which is a popular app for all ages. This could really get their business out there more. One product M Street offers is * hand dipped and handcrafted" milkshakes. Because this is a product you can get in other places it falls into the variety-seeking behavior. M street only advertises 6 milkshakes: Birthday party, cookies n cream, strawberry shortcake, sweet & salty, S'mores, and orange creamsicle. All of the shakes have a variety of different items on top of them, such as cupcakes, ice cream bars, candy bars, pretzels, cookies, etc. The shakes alone look very tasty and like something you rarely ever see anywhere else, which results in many people taking a chance to spend money on them. But this item may be a bit much to others for a few reasons: the price, the calories, or even the amount of sweetness on top. This could result in people regrettingStep by Step Solution
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