DX5602 Brand Experience Design: A Case Study of HealthZ

Introduction Of Brand Experience Design: A Case Study of HealthZ

• The identity of a service or a product is provided by its “brand” (Ama.org, 2023).
• The importance of building a brand is highly essential for the growth of the company.
• Market competitiveness is also enhanced with the help of brand value (Quezado et al. 2022).
• Strategies are adopted by organisations to develop their brand value to gain a competitive advantage.

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Analysis

The importance of brand in a business environment has helped several organisations in their substantial growth. Developing the brand image requires innovative strategies that evaluate the requirements of the customers and the critical analysis of the market. Preferences of the customers tend to vary based on their generational gap and hence building the brand requires intensive studies regarding the needs of specific generations of customers.

Brand Profile and Guidelines

• HealthZ is a fitness and wellness organisation that runs on an online platform.
• The brand is developed based on the ideologies and requirements of Millenials and GenZ.
• The slogan developed for the brand is “Key to Fitness”
• Brand evaluation guidelines are maintained for developing HealthZ.

Analysis

The brand profile developed for the organisation is based on the target audience, which is the Millenials and GenZ. The slogan built for this brand is" Key to fitness, which applies to all the target audiences. The brand logo is strategically planned that shows that exercising is the proper way to remain fit. Effective implementation of the brand loyalty program helps to increase market share in the market.

Ealuation Of Brands

• The evaluation of the brand depends on the strength of its brand value.
• Brands are evaluated as per the standard of “ISO 20671” (Marketing-dictionary.org, 2023).
• The monetary valuation of brands is done as per the standards of “ISO 10668” (Marketing-dictionary.org, 2023).

Analysis

As per the standards of ISO 20671 and ISO 10668, the brand evaluation and brand valuation are maintained respectively. The strength of each brand corresponds to the value of the brand and the measurement of the strength is dependent on the strategies developed by the organisation to build the market position corresponding to the bland value. The valuation of the brand is a monetary approach based on the income, marketing and cost of the product and services of the brand in the business market.

Brand Evaluation Framework

Analysis

The framework provided in this slide depicts the ways in which brand evaluation is performed. According to the framework, it is observed that the inputs provided for brand development produce outputs that measure the brand's strength and the brand performance. Brand development is dependent on the quality, innovation, tangibility, and services provided with the help of the brand organisation. These inputs correspond to the brand support and brand activities of the organisation. The outputs produced as a result of it are the market, legal, customer or shareholders, financial and economic politics that produce the brand strength. Further, the brand strength improves the brand performance and the financial results of the organisation are developed. The outputs produced are continuously improving with the brand development input and together they correspond to the brand valuation.

Ability Of The Brand To Create Opportunity

• The entire identity of the business of an organisation is dependent on the brand (Jones, 2021).
• Branding helps in developing trust among the customers and the organisation.
• Branding enhances the business of the organisation and hence helps in more employment availability in the market.
• Brand value enhances the business of an organisation and helps in achieving a competitive advantage in the market (Gupta et al. 2020)

Analysis

With the help of brand value, organisations are able to gain a competitive advantage. As it is observed that the brand valuation of an organisation is based on the monetary status of the organisation, Brands have the ability to create vast opportunities for the economic development of the country. The country's employment rates are also enhanced with the help of the increased brand value of organisations. The brand value helps in the substantial market growth of the organisation and the employment options are increased with the increased growth of the company.

Market Position

• Strategic positioning of the marketing of the brand provides an extra benefit to enhancing the brand value (Forbes.com, 2022)
• Establishing a position that is perfect for the target audience of the brand requires proper market evaluation.
• The market position of a brand helps in developing the pricing strategy of the services and products provided by the brand.

Analysis

The importance of a strategic brand position is extremely important as the requirements of the target audience vary depending on the geographic location. The strategic positioning of the brand value is performed after analysing the competitive market of other brands in the country. The target audience for the brand is millennials and GenZ and the market analysis for their requirements is performed for establishing the brand profile of the company.

Current Market Position

Analysis

This slide provides a marketing segmentation of the available health and fitness apps available in the UK. According to the marketing segmentation, Sweatcoin is one of the fitness and health apps that is leading the global business market in the year 2022. It was observed that 52 million users downloaded the app globally in 2022. The brand value of Sweatcoin is also approximately 31 million British pounds. The marketing position of HealthZ is based on utilising the brand value based on the requirements of the target audience. By lowering the price of the services, the company has maintained a good position in marketing segmentation.

Marketing Methods

• Strategic marketing methods are developed to enhance the brand image.
• The adoption of digital marketing helps in developing the marketing strategy of an organisation (Saura, 2021).
• The 4Ps of the marketing mix are utilised as a marketing strategy of the brand.

Analysis

Marketing a product or service is extremely important to develop the brand image. With the development of technologies, digital marketing strategies have also helped in promoting the business. HealthZ has adopted digital marketing as the main strategy for promoting the business and the marketing strategies are based on the 4Ps of the marketing mix.

4Ps Marketing Mix

Analysis

The 4Ps of the marketing mix are provided in this slide which gives an idea about the strategies of marketing adopted for the brand. The current market position of the app is good and to maintain this position, a competitive pricing strategy is developed so that the brand can gain a competitive advantage. The price of the services available by the brand is lowered with respect to the competition, maintaining the brand quality and image. The promotional methods adopted for marketing the brand are provided with the help of digital marketing. technology.

Marketing Channels

• Influencer marketing is one of the best strategies used for promoting a brand in recent times.
• The promotional strategy used by the brand uses the help of Digital Marketing with the help of social media.
• Influencers are selected for promoting the business of HealthZ.

Analysis

Marketing channels adopted for promoting the brand image of HealthZ is done with the help of social media influencer. the selection of influencers is done on the basis of the fitness choices preferred by the influencers and their number of followers. Currently, social media influencer marketing helps to gain a competitive advantage for the business and the promotion of the brand is also performed with the help of influencer marketing. Paid marketing channels are also used for promoting the business, like Google ads, and Facebook ads.

Defining Brand Promise

• HealthZ promises to fulfil all the requirements and expectations of the customers.
• The loyalty of the customers will be rewarded.
• The values and principles of the brand's “Key to Fitness” will be maintained at every step of the process.
• The quality of services will never fail to match the expectations of the customers.

Analysis

The brand promises to fulfil all the requirements and expectations of the customers. Customer loyalty is the main criterion for maintaining the brand's image and the loyalty of the customer will always be rewarded. The quality of services will never fail to match the expectations of the customers of HealthZ.

Conclusion

HealthZ's strap line is “Key to Fitness”

• The brand follows the ISO 20671 guidelines for brand evaluation.
• The market position is determined by strategic positioning of the brand
• The marketing channels of the brands adopt a digital marketing strategy using influencer.

Analysis

A conclusion is drawn from the analysis of the prior slides for this presentation.

References

Ama.org (2023) Branding Available From https://www.ama.org/topics/branding/ Accessed on 14/03/2023

Forbes.com (2022) What Brand Positioning Is And Why It’s Important For Your Business Available From https://www.forbes.com/sites/theyec/2022/01/14/what-brand-positioning-is-and-why-its-important-for-your-business/?sh=4254a5f95a63 Accessed on 14/03/2023

Gupta, S., Gallear, D., Rudd, J. and Foroudi, P., 2020. The impact of brand value on brand competitiveness. Journal of Business Research, 112, pp.210-222.

Jones, K., 2021. TheImportance Of Branding In Business Available From https://www.forbes.com/sites/forbesagencycouncil/2021/03/24/the-importance-of-branding-in-business/?sh=9468f2267f71 Accessed on 14/03/2023

Marketing-dictionary.org (2023) ISO 10668 Brand Valuation Available From https://marketing-dictionary.org/marketing-acts-regulations-standards/iso-10668-brand-valuation/ Accessed on 14/03/2023

Marketing-dictionary.org (2023) ISO 20671 Brand Evaluation Available From https://marketing-dictionary.org/marketing-acts-regulations-standards/iso-20671-brand-evaluation/ Accessed on 14/03/2023

Quezado, T.C.C., Fortes, N. and Cavalcante, W.Q.F., 2022. The influence of corporate social responsibility and business ethics on brand fidelity: The importance of brand love and brand attitude. Sustainability, 14(5), p.2962.

Saura, J.R., 2021. Using data sciences in digital marketing: Framework, methods, and performance metrics. Journal of Innovation & Knowledge, 6(2), pp.92-102.

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