wendy's brand rejuvenation program
TRANSCRIPT
WENDY’S :
BRAND IMAGE REJUVENATION
Yu Han Judy Huang
AD 856 Spring I-2015
Professor Costin
Facilitator: Sean Paul Curry
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
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
THE ELEPHANT IN THE MEETING ROOM
What have we missed ?
• 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
WHY MARKETING TO MILLENNIALS
Source: Oracle, ERMA (2010). Retrieved: BRAVO Feb, 28, 2015
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
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
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
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.”
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
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
Questions