MRKM 5 D

“IT’S SOME CLOSURE”
I. Time Context 2013
II. Point of View Mr. Jurjen Jacobs
III. Central Problem Turning Velcro Industries into a lifestyle brand because most often consumers mistake Velcro as the product name when it is in fact a brand.
IV. Secondary or Sub-problems
A. People think that Velcro is the product name and not the brand.
B. Promoting the company name, Velcro, and reinforcing it as a brand to the public.
V. Objectives
A. To change the market’s perception on Velcro Industries and its products.
B. To be able to establish Velcro as a brand, separating it from all the other fabric-fastener type products.
C. To transform Velcro into a globally recognized brand rather than a behind-the-scenes manufacturing company.
VI. Areas of consideration
1. Velcro Industries
2. Velcro as a brand and not a product
3. Velco Industries makes 35,000 products
4. The company has historically tried to avoid publicity
5. Building around the core of amazing connections
VII. Alternative courses of action
1. Start a new branding campaign.
ADVANTAGES:
By starting a new branding campaign through promotions and a whole new set of advertisements and commercials, Velcro Industries can spread brand awareness throughout their market. Coming up with a creative campaign that can fully utilize and express Velcro Industries as a brand will be beneficial to both the company and the market as it would establish the company as Velcro Industries and their hook-and-loop fasteners as the product and not both as “Velcro”. There will be a separation between the brand and the actual product called hook-and-loop will get its recognition.
DISADVANTAGES:
This might not produce the desired effect – or will only drive minimum effect. It might cause confusion within the market because most consumers know the fabric fasteners as “Velcro”, believing that to