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Wendy's Brand Rejuvenation Program
Transcript of Wendy's Brand Rejuvenation Program
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WENDY’S :
BRAND IMAGE REJUVENATION
Yu Han Judy Huang
AD 856 Spring I-2015
Professor Costin
Facilitator: Sean Paul Curry
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WENDY’S FAST FOOD RESTAURANT
• An international fast food chain
Wendy’s fast food restaurant
• Top three fast food restaurant in
U.S.
• Founded by Dave Thomas in 1969
• In Columbus, Ohio, United States
Popular Products:
• Hamburgers
• Chicken sandwiches
• French fries
• Salads
• Frosty
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CHALLENGE• Stagnant market share
• Undefined target groups
• Product and Price
competition from other fast
food competitors
• Growing threat from
increasingly growth of fast
casual restaurants
• Weak presentation in brand
image
GOAL• Improve sales and market
share
• Identified target
demographics and market
accordingly
• Differentiate Wendy’s brand
from other fast food
restaurant
• Position and reposition
Wendy’s marketing strategy
in order to stay connected to
consumers
• Rebuild brand image &
loyalty program
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THE ELEPHANT IN THE MEETING ROOM
What have we missed ?
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• Born between 1977 and 1998
• Age groups 18 – 37
• Cohort size: In the U.S. only, aprx. 70 million to 80 million
• 22 percent to 25 percent of the U.S. population
• Consist $1.3 trillion spending power in U.S. market
• 61 % white, 19 % Hispanic
• 13 % black, 4 % Asian
• 2 % mixed race or other
Source: PEW Research Center
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WHY MARKETING TO MILLENNIALS
Source: Oracle, ERMA (2010). Retrieved: BRAVO Feb, 28, 2015
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CHARACTERS OF MILLENNIAL GROUP
Relational
&
Hyper
Connected
68% of Millennials won’t make major
decision without first running by their
network
Top sources of influence on advices are:
82 % Family/Friends
76% Online reviews
Community
Oriented
&
Socially /
Environmentally
Aware
65 % receive email or newsletter
subscription from 1 – 5 nonprofits
67 % interacted with a nonprofit for charity
purpose on Facebook
74 % are more likely to pay attention to a
company’s messages if the company has a
deep commitment to a good causeSource: Cone Millennial Case Study & AD 856 Research
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HOW TO REACH THE MILLENNIALS
• Social Media
Networking
• Online
Communication
• Mobile Apps
• Text Messaging
77 % own a smart
phone
&
88% use Social
Media
--- understand their habits
Source: The Wall Street Journal
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I . Meet them online
II. Be attentive and
responsive to their
conversation
III. Focus increasing
positive online reviews
95% see opinions from people they
relate with as main source of product
information
91% consider purchasing a product if a
friend recommended it
80% purchased a product after an online
interaction
70% of repeated purchase rate for
brands they love -- Millennials have
strong brand loyalties Source : Huang, 2015
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HOW TO KEEP THEM CONNECTED-- understand their belief
1. Save them money
2. Save them time
3. Recognize their social
awareness
4. Give them freedom to be
an influencer• 60% visit fast food restaurant at
least once a week
• Best choice of food: offers
“convenience”, “easy-access”,
and “economical value”
• Support brand when it connects
to their personality and lifestyle
According to this research,
“Millennials still prefer cheaper
food,
and want it to be convenient.”
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HOW TO HELP THEM STAY LOYAL--- understand their behaviors
Incorporate product features /
promotions meet – Millennials
desire to be:
1. Team Oriented / Non-
competitive
2. Mindful
3. Social Justice Advocator
66 % will recommend products / services
if the company is socially responsible
69 % consider a company’s social and
environmental commitment when
deciding where to shop
Source: Cone Millennial Case Study
83 % will trust a company more if it is
socially and environmentally responsible
89% very likely to switch from one brand
to another if the second brand is
associated with a good cause
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RECOMMENDATION SUMMARY
• Avoid generalization, Millennials see
themselves unique and demand personal
brand experience
• Identify their habits, communicate their
language
• Understand their belief, market through their
use of keywords
• Align brand image with contents of their
behavior. Develop ways to invite them in a
partnership of bringing good cause to their
society
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Questions