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You are given points for your 2 reflections. You will write the Reflections and submit to Turnitin. Each Reflection is one 700word about the questions. Each Reflection is 10 points out of 100 points for the total course grade. Below are detailed instructions for Reflection 1. Note that Reflection 1 includes the Engagement Marks for Quick Win, which is worth 2 marks. Therefore, the following rubric is for 8 points only. The Quick Win Engagement 2 points are in the format of a discussion. You can see the details for this Quick Win component under the same Assignment Group. Note that for the QuickWin, no late submisision would be accepted and you should work on it right from Week 1. Check carefully your similarity rate. Plagiarism is dealt with in accordance with the university rules. Identify a favourite local brand (that is not yet available outside of the country yet) and a favourite global brand in the industry of your choice. Using the Aaker Brand Equity model to compare and contrast the two brands in the different aspects of the Aaker Brand Equity model. In your comparisons and contrast, you should mention both your personal experience and observations with the brand as well as some research and facts about the general publiccustomers’ attitude or perceptions of the brand in your country market or global market.
Reflection Reflection practice-based tasks Group: 07 Course Name: Global Branding Course Code: MKTG1417 Campus: SGS Campus Due date: November 2022 Word Count: 700 MKTG1417_Global Branding I INTRODUCTION Recently, Vietnam's cosmetics market to become the hotspot for both local and global cosmetics brands (Pham 2022) Particularly, L’Oréal was the global largest and leading personal care and beauty cosmetics brand, which dominated the Vietnam cosmetic market many decades ago (Statista 2022) I adore L’Oréal because I have a bias that French cosmetics are much better than others in both quality and technology However, lately, Co Mem emerged to become one of the most trusted Vietnam local natural cosmetic brands, producing 100% safe, non-skin toxic, and environmentally friendly products (EnterpriseAsia 2022) I was attracted by this brand due to its message of promoting Vietnam local cosmetic brand competitiveness II BRAND EQUITY ANALYSIS Brand Awareness Co Mem is a 100% Vietnam natural cosmetic local brand that is completely available in the Vietnam market, therefore Co Mem brand awareness is only domestic On the other side, L’Oréal (Paris) is a global brand and successfully reaches out to a variety of customers in 130 different countries worldwide including Asia, America, and Europe, demonstrating a higher brand awareness (Ippalapelli 2018) Thus, L’Oréal’s brand awareness is at a much higher level compared to Co Mem brand Detailedly, Co Mem Vietnam only reaches potential customers through the most active social media in Vietnam such as Facebook and Instagram with 935k active followers and 856k likes on Facebook, and 19.1k Followers on Instagram (Figure 1&2) While, L'Oréal penetrates diverse media platforms such as Snapchat, Twitter, Facebook, and Instagram (Loreal 2018) L’Oréal achieves 10M followers on Instagram and engages with 36M followers on their official Facebook page (Figure 3&4) According to GoogleTrends, the customer’s interest overtime of L'Oréal defeats Co Mem (Figure 5) Due to reaching a wider- range of customers and a larger number of followers on social media, L’Oréal obviously results in a higher brand awareness level than Co Mem Vietnam Figure 1: Co Mem HomLab Vietnam official Facebook Page (Facebook 2022) Figure 2: Co Mem Homlab Vietnam official Instagram Page (Instagram 2022) Figure 3: Instagram official page of L’Oréal Paris cosmetics (Instagram 2022) Figure 4: Facebook official page of L’Oréal Paris cosmetics (Facebook 2022) Figure 5: Interest Overtime of L’Oréal Paris and Co Mem brand (GoogleTrends 2022) Brand Association Mentioning Co Mem, I immediately recall its logo with an image of soft 4-leaf clover surrounded by flowers and trees rising to form a house, recalls me of the message of Co Mem cosmetics will nurture and elevate Vietnamese women's beauty I recall Co Mem with attributes of “Healthy and True”, “100% Vietnam natural herbal”, and “Cheap”, bringing me positive feelings and trust, as my reason-to-buy because I’m still a student, while L’Oréal is associated with “high price” and “middle-to-high income” (CoMem Homlab 2022) Distinguished from Co Mem, L’Oréal’s logo is not an image, it is merely a verbal sign with exceptional written style “L’Oréal” Co Mem launched regional project of planting hectares of forest in Ninh Thuan (VnExpressed 2022), while L’Oréal conducts media global campaign “Women of Worth - Because You're Worth” (2021) strengthening customers’ interests, increasing their memory links that led to higher brand association (BrandVietnam n.d) L’Oréal invited many global super celebrities such as Beyonce or Jennifer Lopez to ambassadors, so its brand association will be more than Co Mem L’Oréal achieves high level of good sentiment for its brand, with 89.4% positive, and only 10.6% of negative responses and international customers’ positive attitudes (Figure7&13), L’Oréal (36M likes) possesses more likes than Co Mem (835k) on their Official Facebook Page So, L’Oréal has more brand association than Co Mem (Facebook 2022) Figure 6: The Loreal mentions (Brand24 2022) Figure 7: Loreal Source and Sentiment (Brand24 2022) Perceived Brand Quality L’Oréal was highly appreciated, receiving lots of 5-star reviews by global customers due to its outstanding customer service, high-quality products, advanced technologies and premium ingredients (Figure 13) Furthermore, customers feel Loreal take care them, understand and listen their feelings by personalized recommendations make L’Oréal’ brand quality are evaluated more proficient than Co Mem Vietnam Co Mem also gains many positive reviews with 5-star ratings on Homewebsite and Shopee for good products (Figure 9) L’Oréal Vietnam receive favorable reviews and large subscribes for 46,7 N subscribes on YouTube, higher over 10 times than Co Mem (4,33 N subscribes), that drive higher level of trust and confidence to L’Oréal cosmetics (Figure 10&11) L’Oréal receive a high consumer rating of 4.36 starts from 296 reviews from Facebook survey, 80.4% positive reviews (Figure 12) L’Oréal achieved 36M likes on Facebook page, much larger than Co Mem’s likes (856k likes) illustrating L’Oréal elevated customers’ interests (Figure 1&8) Generally, L’Oréal gains higher perceived brand quality than Co Mem Figure 8: The Loreal social analytics results (Social-search 2022) Figure 9: Customer reviews of Co Mem products (Co Mem Homlab 2022) Figure 10: Loreal Paris Vietnam (YouTube 2022) Figure 11: Co Mem (YouTube 2022) Figure 12: Loreal Paris overview (Sitejabber n.d) Figure 13: Good reviews of Loreal products and services (Sitejabber n.d) Brand loyalty Personally, Co Mem gives me reasons to love their brand due to “Affordable”, “Safe” and “100% made in Vietnam'' which motivates me to become its brand evangelist rather than L’Oréal, so my Co Mem brand loyalty is higher However, L’Oréal official store in Shopee achieve 4.9/5 stars and increase to 1.4M loyal followers, 15.5k reviews with 14.8k ratings of 5- star and promise to comeback, accounting for 95%, whereas Co Mem has smaller loyalties range with 333,5k followers, rating 4.9/5 (Figure 14), having 9.4k active reactions with 95.7% of 5-star rating reviews (Shopee 2022) To be grateful to loyal customers, Co Mem discounts 20% off products on opening days and holidays, while L’Oréal gives loyal customers exclusive vouchers of 100K On Facebook (Vietnam), L’Oréal page achieves 35Million likes which highly dominants Co Mem (856k likes), and on average, there are 100 interactions on L’Oréal each post, whereas, Co Mem is more outstanding comparing interactivity with average of 200-300 interactions for posts (Facebook 2022) Overall, L’Oréal’s brand loyalty level is high, compared to Co Mem at a certain level Figure 14: Co Mem Official store (Shopee 2022) Figure 15: Loreal Paris Official store (Shopee 2022) Brand Proprietary assets: To protect brand assets, L’Oréal registered 498 patents in 2017 and Intellectual Property – Brands rights prior to launch to safeguard brand intellectual property, hence L’Oréal name is legally protected (L’Oréal 2017) While, Co Mem is in danger of being copied products and brand name since it hasn’t register copyrights (CoMem Homlab 2022) III CONCLUSION Based on the analysis of five elements above, it can be considered the global brand L’Oréal have the higher level of Brand Equity, compared to Co Mem_a Vietnam local brand IV REFERENCES Brand Vietnam (n.d) L’Oréal Paris - Chinh nu - Vi ban xung đang, Brand Vietnam, accessed November 2022, https://www.brandsvietnam.com/campaign/630-L-Oreal-Paris-Chinh-nu-Vi- ban-xung-dang Brand24 (2022) Loreal, Brand24, accessed November 2022, https://app.brand24.com/panel/compare/? sid=938648614#or=0&cdt=days&dr=4&va=1&d1=2022-10-07&d2=2022-11-06 Co Mem Homlab (2022) Is Co Mem Cosmetics Good? Homelab Cosmetics Customer Reviews, Co Mem Homelab, accessed November 2022, https://comem.vn/my-pham-co-mem-co-tot- khong Enterprise Asia (2022) Local cosmetic brands that are turning heads in Vietnam’s beauty scene, Enterprise Asia, accessed November 2022, https://www.enterpriseasia.org/portfolio- item/4-local-cosmetic-brands-that-are-turning-heads-in-vietnams-beauty-scene/ Facebook (2022) Co Mem HomLab Vietnam official Facebook Page, Facebook, accessed November 2022, https://www.facebook.com/comemhomelab Facebook (2022) Facebook official page of L’Oréal Paris cosmetics, Facebook, accessed November 2022, https://www.facebook.com/LOrealParisVietnam Google Trends (2022), Interest Overtime of Loreal and Co Mem brand, Google Trends, accessed November 2022, https://trends.google.com/trends/explore?geo=VN&q=CO%20MEM,%2Fm %2F0366v2 Instagram (2022) Co Mem Homlab Vietnam official Instagram Page, Instagram, accessed November 2022, https://www.instagram.com/comem_homelab/ Instagram (2022) Instagram official page of L’Oréal Paris cosmetics, Instagram, accessed November 2022, https://www.instagram.com/lorealparis/ Ippalapelli P (2018) Loreal Social Media Presence, Loreal Media, accessed November 2022, https://lorealmedia.home.blog/author/ippalap1/ Loreal (2017) Protecting its assets, Loreal Annual Report, accessed November 2022, https://www.loreal-finance.com/en/annual-report-2017/administration-finance/intellectual- property-protecting-assets Pham C (2022) Vietnam’s Emerging Cosmetics Industry: Strong Potential for Growing Market, Vietnam Briefing, accessed November 2022, https://www.vietnam-briefing.com/news/vietnams-emerging-cosmetics-industry-strong- potential-growing-market.html/ Shopee (2022) Co Mem Official store, Shopee, accessed November 2022, https://shopee.vn/comem_homelab Shopee (2022) Loreal Paris Official store, Shopee, accessed November 2022, https://shopee.vn/ lorealparis_officialstore? categoryId=100630&entryPoint=ShopByPDP&itemId=3156042540&upstream=search Sitejabber (n.d), Loreal Paris overview and good reviews of Loreal products and services, Sitejabber, accessed November 2022, https://www.sitejabber.com/reviews/lorealparisusa.com#:~:text=L'Or%C3%A9al%20Paris %20has%20a,1st%20among%20Anti%20Aging%20sites Social Searcher (2022) The Loreal social analytics results, Social Searcher, accessed November 2022, https://www.social-searcher.com/social-buzz/? wblng=&ntw=&psttyp=&searchid=&period=&value=&fbpage=&q5=Loreal Statista (2022) L’Oréal- Statistics & Facts, Statista, accessed November 2022, https://www.statista.com/topics/1544/loreal/#topicHeader wrapper VnExpress (2022) Co Mem accompanies Green Happiness to plant forests in Ninh Thuan, VnExpress, accessed November 2022, https://vnexpress.net/co-mem-dong-hanh-cung-hanh- phuc-xanh-trong-rung-o-ninh-thuan-4510806.html YouTube (2022), Co Mem, YouTube, accessed November 2022, https://www.youtube.com/channel/UCaxLMzyajhVv vckQhJhXQ YouTube (2022), Loreal Paris Vietnam, YouTube, accessed November 2022, https://www.youtube.com/user/lorealparisvietnam