MKT624-Brand Management Assignment No #1 2012 Solution
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Welcome to our MKT624-Brand Management Assignment No #1 2012 Solution.
MKT624-Brand Management Assignment No #1
Goodyear was incorporated on August 29, 1898 with a capital stock of $100,000. The Goodyear Tire & Rubber Company was founded by Frank A. Seiberling with the borrowedmoney from his brother-in-law. Goodyear began its production with just 13 employees but today it has achieved immense heights through innovation and fulfilling the carefully identified customer’s needs. It has worked hard over years to create point of difference and point of parity association with its customers. It has focused on delivering delightful experience to the customer by designing and providing want satisfying innovations.
One such achievement is the introduction of Run-Flat tires. Run-Flat tires were designed to perform when deflating or even once deflated. It allowed the tires to keep going for up to 50 miles at a speed of about 60mph after a tire punctures or blowout helping the driver to reach a safe place or service area. This point of difference (POD) created the competitive advantage for Goodyear. Company’s rivals are always keeping a close eye on the company and working to eliminate the point of difference (POD) and to convert it to point of parity (POP).
MKT624 Assignment No #1 2012 Solution
This, often, makes competitive advantages lasts for short time before competitors attempt to match them. Soon after Goodyear introduced the Run-Flat tires, Michelin- one of the competitors – responded and introduced a similar tire which was called the Zero Pressure System and offered the same consumer benefits. Now the point of difference (POD) of Goodyear has already been challenged and targeted. Goodyear could have responded earlier to maintain its point of difference POD because whenever competitors challenges an existing POD or attempts to overcome a POP, there are certain options available to the targeted brand.
Requirement:
After understanding the concepts of point of difference (POD) and point of parity (POP), you are required to suggest what options Goodyear should have employed to combat the competitive actions taken by Michelin which has challenged its existing POD or attempted to overcome its POP?
Conceptual Note for MKT624 Assignment No #1 2012 Solution
Point of difference (POD) are attributes or benefits that the consumer strongly associates with the brand , positively evaluates and believe that they could not find to the same extent with the competitive brand.
Point of parity (POP), on the other hand, are not necessarily unique to the brand but may in
fact be shared with other brands.So MKT624-Brand Management Assignment No 1 2012 Solution has been published by our professional team.
Solution
First understand the Points of Difference (POD)
The riskiest thing in business is to play it safe and follow the crowd. For your business to stand out among the noisc and competition, you need to be different.
As you go through the given condition, identify points of difference for your business. A Point of difference (POD) is something that differentiates your business from others similar business. Creating them is not hard. You just need a bit of creativity and to know its something our customers really values. It also needs to be powerful enough to get people talking about your and referring you.
