Brand Audit of Waiwai
2285 WordsMar 20th, 201110 Pages
Introduction of Wai Wai
Chaudhary Group (CG) is the largest private corporate house in Nepal having diversified interests across various sectors. It was established in 1935, by Mr. Bhuramull Chaudhary as a shop in the New Road (Currently), CG at present is a conglomerate of over 40 businesses, with investment outlay of over $250million. CG started to produce Wai Wai in collaboration with Asian Thai Food in 1977 A.D. This company now produces varieties of noodles like: Wai Wai Chicken, Wai Wai Vegetarian, Wai Wai Tandoori, Wai Wai Tomyam, Wai Wai Tenz, Wai Wai Mutton, Wai Wai Spinach, Wai Wai Quick, Wai Wai Quick Schezwan, Wai Wai Quick Manchurian, Wai Wai Quick Chicken Pizza, Wai Wai Quick Kimchi, Wai Wai Cup Noodles (chicken and…show more content…
Wai Wai also plays a significant role in the economy of the country. It is not only the No. 1 brand of noodles but of overall Nepal which means it contributes whole sum of revenue to the GDP of the nation. It has a 70 % market share in the noodle segment and that itself speaks about the healthy profits that it enjoys.
Wai wai is the market leader in the noodles sector commanding a price premium for its products. As we all know there are a lot of factors that are actually taken into consideration as pricing is a tricky affair. But we believe that quality dictates price and this holds true for a brand like wai wai. Not only that, wai wai also dictates the price for its competitors to follow like Mayos and Miho.
3. Brand management audit:
Differentiation strategy of Wai Wai Noodle from that of its competitor brands are:
Product Differentiation: * Positioning
Positioning refers to the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market. Wai Wai now is serving its customer with its service since 25 golden years. Hence, all its customer identify it as one of the oldest and trustworthy brand which is making a reminder through its activities as advertisement and promotional campaign as giving scholarship to the students of gyanodaya school and preparing for the visit of the student from various school.
Even though there are many competitors that have
1342 Words6 Pages
A brand audit is a detailed assessment of a brand’s current ranking in the market compared to other competitors. It provides information on how the business is performing in the market. A brand audit also aims at examining the image and reputation of the brand as perceived by customers. The two key elements of brand audit are brand inventory and brand exploratory. Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand. It seeks to conduct a consumer insight research in order to acquire consumers’ feelings and perceptions. This paper looks into the brand…show more content…
(Grover & Vriens 2006, p. 98).
In order to create a brand identity, brand salience is a prerequisite. Brand salience is related to the aspects of brand awareness. It involves the ability of the customers to remember and identify the brand. Cadbury has embarked on this mission by engaging in advertisement of its brand especially in the print media. The company has also enhanced brand identity by manufacturing various products that meets the needs of customers. Examples of these products are ice cream, biscuits, cakes, dairy milk and drinking chocolate. Having a wide range of products has helped Cadbury to integrate three important functions. To begin with, a variety of products has helped to form and strengthen brand connection with the customers, which in turn has developed the brand image that gives it meaning. Cadbury brand variety has also improved the chances of one of the brand being among the set that is to be considered for purchase by the customer. More importantly, when customers have a low engagement with a category of products, they tend to make choices based on the brand that is most conspicuous. Research has shown that Cadbury’s most recent advertisement whose slogan was “choose Cadbury” was very appealing and helped in boosting the identity of the brand thus attracting more customers (Rommaniuk & Byron 2004, p. 330).
Though brand salience is considered an important