Harvard Case - Understanding the Brand Equity of Nestle Crunch Bar: A Market Research Case
"Understanding the Brand Equity of Nestle Crunch Bar: A Market Research Case" Harvard business case study is written by Jill Avery, Gerald Zaltman. It deals with the challenges in the field of Marketing. The case study is 35 page(s) long and it was first published on : Jan 12, 2019
At Fern Fort University, we recommend Nestl' leverage its strong brand equity in the Crunch bar by implementing a multi-pronged strategy focusing on: 1) reinforcing existing brand associations through targeted advertising and social media campaigns, 2) expanding into new market segments through product innovation and strategic partnerships, and 3) enhancing customer engagement through personalized experiences and loyalty programs.
2. Background
This case study focuses on Nestl''s Crunch bar, a popular chocolate candy bar with a long history and strong brand recognition. The case study explores the brand's equity, analyzing its strengths and weaknesses, and identifying opportunities for growth. The main protagonist is the Nestl' marketing team, tasked with developing a strategy to maintain and enhance the Crunch bar's market position.
3. Analysis of the Case Study
The case study highlights several key factors influencing the Crunch bar's brand equity:
Strengths:
- Strong brand recognition and positive associations: Consumers associate the Crunch bar with fun, indulgence, and nostalgia.
- Established distribution channels: The Crunch bar is widely available across various retail channels, ensuring broad market reach.
- Loyal customer base: The brand enjoys a loyal following, particularly among older consumers.
Weaknesses:
- Perceived as outdated: The Crunch bar's image may be perceived as outdated by younger consumers.
- Limited innovation: The product has seen limited innovation in recent years, potentially hindering its appeal to evolving consumer preferences.
- Increased competition: The chocolate candy bar market is highly competitive, with numerous brands vying for consumer attention.
Opportunities:
- Expand into new market segments: Targeting younger consumers through product innovation and marketing initiatives.
- Leverage digital marketing: Utilize social media, influencer marketing, and online advertising to reach new audiences.
- Enhance customer engagement: Develop loyalty programs and personalized experiences to foster deeper connections with consumers.
Threats:
- Shifting consumer preferences: Consumers are increasingly seeking healthier and more sustainable options.
- Economic fluctuations: Economic downturns can impact consumer spending on discretionary items like candy bars.
- Increased competition from private label brands: Private label brands are gaining market share, posing a threat to established brands like Nestl' Crunch.
Framework:
To analyze the case study, we utilize a combination of frameworks:
- SWOT Analysis: To identify the Crunch bar's internal strengths and weaknesses, and external opportunities and threats.
- PESTEL Analysis: To assess the political, economic, social, technological, environmental, and legal factors influencing the candy bar market.
- Porter's Five Forces: To understand the competitive landscape and identify key industry forces.
- Marketing Mix (4Ps): To analyze the Crunch bar's current product, pricing, promotion, and place strategies.
- Brand Equity Model: To assess the Crunch bar's brand equity based on brand awareness, brand associations, perceived quality, brand loyalty, and brand assets.
4. Recommendations
To maintain and enhance the Crunch bar's brand equity, Nestl' should implement the following recommendations:
1. Reinforce Existing Brand Associations:
- Targeted advertising campaigns: Develop advertising campaigns that resonate with existing consumers while appealing to new demographics.
- Social media marketing: Engage with consumers on social media platforms, creating interactive content and fostering brand loyalty.
- Nostalgia marketing: Leverage the Crunch bar's nostalgic appeal through campaigns that evoke memories and positive emotions.
2. Expand into New Market Segments:
- Product innovation: Introduce new flavors, sizes, and formats to appeal to younger consumers and health-conscious individuals.
- Strategic partnerships: Collaborate with other brands or influencers to reach new audiences and create buzz.
- Market segmentation: Develop targeted marketing campaigns tailored to specific consumer segments, such as millennials, Gen Z, or health-conscious consumers.
3. Enhance Customer Engagement:
- Personalized experiences: Offer personalized recommendations, discounts, and promotions based on consumer preferences and purchase history.
- Loyalty programs: Develop a loyalty program that rewards repeat customers and encourages continued engagement.
- Customer relationship management (CRM): Utilize CRM systems to collect and analyze customer data, enabling targeted marketing and personalized communication.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Nestl''s core competencies in manufacturing, marketing, and distribution align with the recommendations. The proposed strategies are consistent with Nestl''s mission to enhance quality of life and contribute to a healthier future.
- External customers and internal clients: The recommendations address the needs of both existing and potential customers, while also considering the needs of internal stakeholders such as the marketing team and sales force.
- Competitors: The recommendations consider the competitive landscape and aim to differentiate the Crunch bar from its competitors.
- Attractiveness ' quantitative measures: While specific financial metrics are not provided in the case study, the recommendations are expected to increase brand awareness, sales, and profitability.
Assumptions:
- Consumers are open to new product innovations and marketing initiatives.
- Nestl' has the resources and capabilities to implement the recommended strategies.
- The market for chocolate candy bars will continue to grow.
6. Conclusion
By implementing these recommendations, Nestl' can maintain and enhance the brand equity of the Crunch bar, ensuring its continued success in the competitive candy bar market. The focus on reinforcing existing brand associations, expanding into new market segments, and enhancing customer engagement will contribute to the brand's longevity and appeal to a wider audience.
7. Discussion
Alternatives:
- Complete brand overhaul: This could involve a complete rebranding, potentially alienating existing customers.
- Focus solely on existing customer base: This could limit growth potential and leave the brand vulnerable to competition.
Risks:
- Product innovation may not be successful: New product launches carry inherent risks, and consumer acceptance is not guaranteed.
- Marketing campaigns may not resonate with target audiences: Effective marketing requires careful planning and execution to ensure message delivery and impact.
Key Assumptions:
- The recommendations assume that consumer preferences are evolving and that Nestl' can successfully adapt to these changes.
- The recommendations also assume that Nestl' has the resources and capabilities to implement the proposed strategies.
8. Next Steps
Timeline:
- Months 1-3: Conduct market research to identify consumer preferences and potential market segments.
- Months 4-6: Develop and test new product concepts and marketing campaigns.
- Months 7-9: Launch new products and implement marketing initiatives.
- Months 10-12: Monitor results and make adjustments as needed.
Key Milestones:
- Launch a new product line targeting younger consumers.
- Implement a social media marketing campaign to engage with a wider audience.
- Develop a loyalty program to reward repeat customers.
By following these recommendations and taking the necessary next steps, Nestl' can ensure the continued success of the Crunch bar and maintain its position as a leading brand in the chocolate candy bar market.
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Case Description
In early 2018, Nestle announced the sale of its U.S. candy-making division and a select collection of twenty of its confectionery brands, including the Nestle Crunch Bar, to Ferrero SpA for $2.8 billion. Under the terms of the Nestle acquisition, each of the purchased confectionery brands was permitted to use the Nestle parent brand name for one year after the close of the sale. After that time, the Nestle Crunch Bar would be rebranded as Crunch Bar with an endorsement from its new parent brand, Ferrara Candy Company, a division of Ferrero SpA. As the Nestle Crunch Bar brand transitioned to its new owners, it was time for some serious brand analysis to assess its brand equity and plot a course for its future growth. How strong/weak was the brand? What were its sources of brand equity that could be leveraged in brand storytelling? Which types of messages might attract new consumers to the brand and what might work to cause infrequent users to purchase more often? Did the product itself need to be changed? Were there brand extension possibilities? Luckily, an old consumer research study on the Nestle Crunch Bar conducted by Professor Gerald Zaltman was found on the shelves at Harvard Business School. The study used an innovative market research methodology developed by Professor Zaltman, the Zaltman Metaphor Elicitation Technique (ZMET), which had proven to be useful to brand managers hoping to better assess and understand their brands. The research methodology and raw data from Professor Zaltman's ZMET study on the Nestle Crunch Bar are presented in the case as tools to help students assess and understand the brand equity of the Nestle Crunch Bar and map its future strategic course.
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