Connecting with Core Customers
Disney is a world leader in understanding their target markets and uses advanced systems and innovative technologies to understand their consumer base on a level never before possible. Disney's overall value proposition target involves making experiences more memorable and accessible through innovative technology. Disney's primary strategic objective is to produce high-quality content through their entire product mix which includes a variety of brands that are used to target different market segments. Since Disney's product mix is so diversified and includes many different brands and operating channels, maintaining close relationship with its customers and maintain its level of quality and customer service can be difficult to manage effectively.
To illustrate the complexity in product mix, the media channels alone consist of The Walt Disney Motion Pictures Group which operates as its own brand but also has several extensions including Walt Disney Pictures and Television, Miramax Films, Pixar Animation Studios and Disneynature. The Disney-ABC Television Group operates ABC, ABC News, ABC Family, ESPN, The Disney Channel and several others. Interactive marketing is handled by Disney Interactive Media Group and includes Disney.com, ABC.com, and ESPN.com (Hitt, 2009). Maintaining effective brand images for all of these brands requires talented human resources that also believe in the brand. Employees who are in consensus with an organization's brand are more likely to act consistently in ways supporting how the organization hopes that external constituencies perceive it and its products/services (Aurand, Gorchels, & Bishop, 2005). Furthermore, employees can now connect with consumers on a more intimate level that through many channels, including social media, which is referred to as integrated marketing communications.
Maintaining the Brand Image
For a company such as Disney, maintaining their brand image and creating customer loyalty has never been more of a challenge. Today consumers can share information and reviews about products and services from virtually anywhere on…… [Read More]
Product and Brand Management at Starbucks
Product and Brand Management -- Analysis of Starbucks
Starbucks (NASDAQ: SBUX) has one of the most recognized and perennially most popular bands recognized today. It also has one of the most loyal customer bases of any quick service restaurant (QSR) with the average visit per months of the most loyal customer segments averaging 16 or more (Starbucks Investor Relations, 2013). During a recent visit to a Starbucks near campus, customers in the store were trying coffee samples produced using the new Verismo System. This is a Kuerig-like device that can produce a single serving of many different types of beverages, from cappuccinos and espressos to regular coffee. The intent of this analysis is to evaluate how Starbucks is successfully using its branding strategies to move beyond serving beverages and food to selling accessories and coffee makers.
Starbucks Branding Analysis
The Verismo System was initially seen as a novelty by customers in the store, and is more discussed its advantages of providing superior coffee and hot beverages at home, there was greater recognition of its value. The customers evaluating the system were clearly very Starbucks-loyal customers as they were all holding their own mugs they had brought to the store for their daily coffee. What resonated the most with the customers was the immediacy of having a Starbucks-like coffee experience in their home, complete with the unique coffee blends they preferred. A core component of the Starbucks brand is the experience it provides customers (Nolan, 2007). Clearly Starbucks is aligning their branding strategy for accessories and new devices including the Verismo System with the experiential aspects of their branding strategy. The features of the system include a packet-loading lid that enables just a single cup of coffee to be produced in minutes using the unique high temperature brewing system. It's called a system as it has many different attachments and items that can be used for creating unique, one-of-a-kind drinks. Starbucks is attempting to create an in-home experience with the system by giving…… [Read More]
Nike Brand Management
Nike's progression from selling tennis shoes out of the back of founder and CEO Phil Knight's car to one of the most respected and known brands globally initially began with naming the company after the Greek Goddess of victory. Transitioning from being Bleu Ribbon Sports to Nike also led to the company going public and gaining the necessary funds to finance growth and expansion. It was after these significant events that Nike initiated the strategy of having celebrity spokespersons with Steve Prefontaine, Olympic distance runner from Oregon, and Ilie Natase, world-known Romanian tennis player the first that the company signed (Pillot, 2005). Nike quickly progressed in their strategies of relying on celebrity endorsers, creating entire product lines around Michael Jordan, Kobe Bryant, LeBron James and other superstars in professional sports. Nike moved quickly from selling footwear to accessories and then on to creating products for entire sports categories. This portfolio-based approach to managing their branding strategy has given Nike greater flexibility in defining which celebrity athletes they will rely on at specific stages of their product lifecycles (Collins, 2003). It has also given them a greater level of autonomy in how they manage the financial performance of each brand over time as well, providing greater agility and flexibility in defining product lifecycles and how they choose to promote and change product strategies over time. Figure 1, Boston Consulting Group's Matrix Analysis of Nike's Product Line shows how each of the brands and their respective product lines are performing today. The ability of Nike to continually evolve the women's fitness, Start, Converse and Fitness Dance products is to a large extent defined by how innovative their product strategies are in each of these areas (Collins, 2003).
Figure 1: Boston Consulting Group Matrix Analysis of Nike's Product Line
Source: Analysis of SEC Filings by Nike based on concept from: (Cooper, Edgett, Kleinschmidt, 2006)
Nike uses perception-based analysis to define their future product strategies based on attitudinal insights from prospects and future customers (Anana, Nique, 2010). This approach to defining product strategies gives Nike greater agility on defining next-generation products, and also gives them the freedom to break out of cost and price-based…… [Read More]
To conclude with, in terms of positioning, the BD brand is perceived as offering a dynamic, unconventional, imagination supporting experience, while the P.F.Chang brand is seen as a symbol for culinary harmony, qualitative services, and concern for the client's nutrition requests or needs.
Another issue which aims to increase brand equity refers to the tools a company uses for gaining customers' loyalty. For example, BD invites clients to join Club Mongo for receiving information on promotions, news, events. As a reward, the clients will receive a gift when signing up and something special on their birthday.
A tip for higher brand equity may also refer to increasing brand awareness. At this chapter, both BD and P.F. Chang make use of the gift cards that you can buy in order to reward someone dear by offering him/her an experience in a BD or P.F. Chang restaurant.
In addition to a company's USP, a major pillar of the brand image is the organization's behavior in the community. With respect to this subject, BD's equity relies significantly on social involvement, an aspect outlined by one of the mission's statements: "operate an environment that is "Friends taking care of friends" (http://www.gomongo.com/).Acting in the spirit of the value above, Billy Down, the president of BD, opened a restaurant in the Mongolian capital of Ulaanbaatar, in order to contribute to the country's economic recovery after the fall of the communist regime, by offering jobs and donating 25,000$ per year to the Mongolian Youth Development Foundation. Moreover, the idea of acting like a good citizen may be outlined by the famous "Guest Grillers," a concept through which BD allows different organizations to raise funds. Such was the case of the Royal Oak Children's Choir who managed to raise 2000$ in three hours thanks to the participation of the city's current mayor and four previous mayors who accepted cooking together with the BD personnel. Another social project is Team Mongo, a team of marathon runners and triathletes, sponsored by BD.
Although less prominent than in BD's case, the concept of social involvement is also found in the P.F. Chang's brand image as a result…… [Read More]
Companies that have invested in defending their brand and managing the customer experience outside of their website have seen great returns. Within the travel industry, for example, companies such as InterContinental Hotels Group and Royal Caribbean Cruises have both extended their reach to manage the customer experience on partner sites with a very high degree of success. In each instance, their efforts have resulted in an improvement in the customer experience conducive to attracting, converting, and retaining customers- ultimately improving market share and generating millions of dollars in incremental revenue (Lasswell, 2010).
4. Describe the process of profiling a consumer's brand knowledge
Companies that understand this and are willing to be consistent and committed partners with their customers, naturally develop long-term customer relationships. Those who choose to view their products as only part of a needs-fulfillment transaction will tend to turn their products into commodities (Bergsman, 2000).
Defining and managing relationships with customers are what strong brands are all about. People purchase products from those brands that reflect their views, goals, and emotional temperaments. We want to be with people who reflect our values and our interests. We want to buy brands that do that, too. You may drink Starbucks because you think of yourself as sophisticated in terms of coffee taste and selection; someone else drives a Saab because of his self-image as an independent thinker, and yet another shops at Nordstrom because she believes she deserves a high level of service when buying clothes (Baum, 1995; Lancaster, 1979).
The more a company's actions and communications reflect its underlying brand strengths, the more integrated the brand (Lancaster, 1979). Integrated means that everything is in line: a product's industrial design, the way the phone is answered or email responded to, the quality of paper of a direct mail piece, and even the not-for-profit organizations to which it donates. All actions deepen the relationship with the customer.
Many companies don't understand the integrated brand concept. This means that they may place more emphasis on their graphic identity or name than they do on relating to customers. Working Woman magazine, for instance, decided that it needed to protect its trademark vigorously from Lisa Kohl, a small business owner who promotes women's and…… [Read More]
Branding in Service Markets
Amp Aim And Objectives
Themes for AMP
Characteristics Composing Branding Concept
S-D Logic and Service Markets
Branding Challenges in Service Markets
Considerations for Effective Service Branding
Categories and Themes
Branding Theory Evolution
S-D Logic and Service Markets
Branding Challenges in Service Markets
Considerations for Effective Service Branding
Branding Concept Characteristics
Characteristics Composing Branding Concept
Sampling of Studies Reviewed
Evolution of Branding Theory
Evolution of Marketing
Brand Identity, Position & Image
Just as marketing increasingly influences most aspects of the consumer's lives, brands and branding have become significant components in the contemporary progressive marketplace. Organizations like WTO as well as many organizations regularly utilize branding marketing and management practices. In turn, branding has become critical to structuring commercial and economic activities throughout the world. Organizations need to augment the understanding not only of branding in service markets but also service-dominant (S-D). Brands and branding have not only become significant components in the contemporary progressive marketplace, the marketing of them will likely continue to increase its impact on most aspects of the consumer's lives brands. The organization needs to design company brands to not only identify its brand and mirror the company's message but also reflect consumers' concerns and value.
CHAPTER 1: AMP AIM AND OBJECTIVES
No "brand" or global economy exists in a vacuum. In countries throughout the world, significant evolving, fiscal components vitally contribute to as well as link to long-term trends occurring in both brands and economies the developing world; particularly sizeable emerging economies (Vargo & Lusch, 2006; Haig, 2011). Although Branding Theory has been primarily developed in the context of consumer products, most economies demonstrate that the majority of companies sell services rather than products. "Branding 'presells' the product or service to the user" (Haig, p. 3). Through the AMP investigating the evolution of the branding theory in the service realm, the researcher seeks to enhance the understanding not only of branding in service markets but also service-dominant (S-D).
Just as marketing…… [Read More]
Then soon other players came such as Pepsi who also tried to penetrate the market. With the introduction of Pepsi into the market, the market share was divided, sales volume for both commodities went low and the prices also lowered. The product life cycle of some of these products may go far beyond the expected limit, and this is attributed to the brand equity they have.
Use of Interactive television and online services in marketing
Marketers have nowadays ventured more into interactive television and online services to improve on advertising their products because through such innovations they can easily reach their targeted groups. For instance, product manufacturers have found ways to advertise their products in video games especially for this product highly consumed by children.
Through online services, marketers have the opportunity to conduct surveys which will enable them to know how their products are competing and are being perceived in the market. Manufacturers are using more of e-commerce to pass most of their goods to customers, through electronic sales in websites such as ebay, amazon and CNET among others. They have reduced part of the expense while they would have incurred if they were to follow the normal sales and supply chain.
Innovations in interactive televisions have assisted marketers to improve their product promotion techniques because, through the various interactive services such as that with TV set, with TV program content, TV related content an TV services, the manufacturers can avail some of their products and their usage instruction at the TV user's reach. Through the various features available on interactivity with a TV-related content, this type of interactive TV helps the viewers to acquire more product information from the TV about advertised products and to make it better for marketers; the TV users can buy the product through a feature known as "t-commerce" Boone & Kurtz, 2011()
This high technology improvement has made it easier for marketers to reach a…… [Read More]
Branding and Communication
There has been significant criticism leveled against the branding practices of companies, and most particularly those of multinationals, which have been raised. Drawing on the academic literature this work will identify the primary arguments used in these critiques and will critically examine those arguments and discuss their implications for branding in the age of globalization. This study will further answer the question of how branding has changed under the influence of such criticism and how.
The work entitled "Is Marketing Ethical? Is Marketing Socially Responsible? What is the Philosophy of Marketing? Caveat Emptor!" poses the question as to whether marketing is ethical…socially responsible and additionally asks the question of what is the philosophy of marketing? The function and practice of marketing is stated to have been criticized because it is claimed that it "deliberately creates partial truths about products and services and exploits the fears and weaknesses of fellow human beings." (Marketing Ethics and Criticism, 2012) The marketing of ethics is criticized quite frequently since marketing is the only function of business that "sets out to emphasize the gap between a person's reality and their expectations in such a way that people feel lacking in either self-esteem or possessions so that they feel compelled to close the gap by unnecessary spending." (Marketing Ethics and Criticism, 2012)
Often the criticism leveled at practitioners is of a personal nature since they are characterized as "vapid unscrupulous individuals who believe they hold superior knowledge about human behavior, motivation, persuasion, influence." (Marketing Ethics and Criticism, 2012) The marketing profession is criticized from the academic managerial standpoint "because it exists in a state of topic uncriticality…making claims to be a profession when it only attracts self-opinionated gurus and mystics with a lack of intellectual rigor and commercial discipline." (Marketing Ethics and Criticism, 2012) From a philosophical viewpoint, much of the criticism towards marketing comes from a postmodern stance in opposition to what is predominantly…… [Read More]
Brand Communication Management on Organic Products
In the class text in Chapter 11 entitled "Designing and Implementing Branding Strategies" that the brand-product matrix and the brand hierarchy help a company to characterize and formulate branding strategies. This is done by defining various relationships that consumers have among brands and products. In the matrix, brand-product relationships are graphically represented to set up a brand-product portfolio. From this portfolio, the elements in the breadth of the product mix and the depth of the product mix can be determined. In this way we can implement the proper brand architecture guidelines (Keller 1997, 503-518).
This is really a "back to the basics" reminder of why a brand was born in the first place. Traditionally, brand positioning can also be defined as how customers perceive a brand or product in relation to similar products offered by your competitors in your market. Marketers usually try to create brand position through advertising and promotions in an attempt to influence customers' perceptions of their brands. However, in today's world of busy schedules and nonstop messages, companies need to find different ways to position their brand. By listening to your customers and making changes internally, you can build your brand position organically (ibid).
Customer perception can make or break a product. For example. If your customers perceive a brand as representing poor customer service or quality, a company must make the necessary internal changes to ensure that the customers get the best-in-class customer service. The customers then need to hear about this service. In other words, it is necessary to make the internal changes to meet customers' needs. This will in turn lead to the brand experience and perception that a company wants to convey (Nirmalya and Steenkamp 2007, 237).
Organic products are different than many in the branding strategy that needs to be pursued in marketing them. Many issues with such products are unique due to small and specialized markets. Research results have suggested that such niche marketing is a highly effective strategy for countering price competition in a mature industry. They identify key success factors, the most important factor of which…… [Read More]
Brand Communication Management on Organic Products
Organic products are those products which are made from organic raw material and in some countries it also requires organic certification as well. It should be kept in the mind that when ever you are to sell or advertise the organic products then you should try to emphasize on the benefits of the brand category rather than simply promoting your brand. For example if you are selling the car which works on the bio gas fuel than the promotion activities related to the campaign of the car should highlight the benefits of using the bio gas fuel and it should also put some light on the damages which have been caused by the pollution produced through the regular fuel.
There are many companies which are selling different kinds of organic products however only few have designed their promotion campaign in such a way that they can grab the attention of the consumers at the right place and at the right time. There are some categories of brands in which the consumers often do not agree with the promotional activity of the company because of the nature of business in which they are involved. For example many big brand names in the industry of fast food promote their products in such a way that the element of junk food could not get highlighted in the advertisement (Hofmeyr & Rice, 2000, p. iii). Now days consumers are very smart and they understand the marketing gimmicks which are played by such companies. Issue of ethics also comes to work as far as the authenticity of organic brands is concerned. Most of the companies claim that the brands which they are selling should be considered in the category of organic products however their neutrality often seems questionable. One of the other major issues related to the organic products is that it is quite difficult to differentiate your brand than the competitors because majority of the consumers assume that the organic brands are the commodity and every brand has the same properties and benefits no matter which tag is attached to it. This is one of the major issues which majority of the marketers and brand management experts are going through. To cater with this situation most of the experts…… [Read More]
Brand Communication Management on Organic Products
Organic products are a relatively new presence within the market. They strive to serve the need of a healthier life style with benefits for both the population as well as the environment. A major component in the success of the organic products is represented by the strength of the brands.
Brands generate customer trust, demand for the products and ultimately support the company in attaining its overall objectives. And brands are essential to the market triumph of any product, but even more so with organic products, due to the features of particularity revealed by these specific items.
At a more practical level, a marketing plan on the strengthening of a brand for organic products would include the following features:
Customer-based brand equity for organic products
The points of parity and the points of difference for organic products
The selection of the target market
The brand mantra for organic products
The brand elements
The marketing programs.
a) Customer-based brand equity for organic products
The brand is created and promoted in such a manner that it generates customer trust. It would not only promote the features of the organic products, but would promote the benefits they create for customers. The focus on the brand would be on the customer, to communicate them the commitment of the firm, the guarantee of quality and the value of the products and the company (Glynn, 2009).
b) The points of parity and the points of difference for organic products
The points of parity shared by the brand of organic products include the following:
Better health for the consumer
Environmental responsibility and sustainability
High levels of product functionality and quality.
The points of difference would often be difficult to create, but within the current context, they would include:
The expertise of the store staff and their assistance in helping customers choose the products which best…… [Read More]
One relevant example in this sense is represented by the organizational investment in the brand value.
In order to ensure a successful management of the brand, it is necessary for the economic agents to engage in a series of steps which maximize their strengths and minimize their chances of failure. All in al, the recurrent trait in the recommendations is that of adapting the branding strategy to the features of the customer base and ensuring that the product promoted has a high quality and ability to serve customer needs; continuous research and adaptation is the key success factor to maintaining a powerful brand.… [Read More]
The disadvantages of employing brand extension strategy
This work compeers and contrasts the merits and demerits of implementing brand extension a s a growth strategy by various firms. This is done by means of practical examples. In the end of the debate, the paper indicates why it is better to adopt the extension strategy as opposed to shunning it due to its numerous demerits. A discussion of the key points is presented and then a final conclusion to hammer out the reason for the need to implement the strategy
Brand extension, which entails the use of a given brand name which is established in a given product class in entering another product class is noted to be hugely beneficial to several organizations (Tauber,1988).Keller (2003) pointed out that the concept of brand extension is clearly defined whenever a given firm employs an established brand name in the introduction of a totally new product. This strategy is employed in order to leverage as well as increase brand equity (Pitta and Katsanis,1995). The strategy is often regarded as beneficial since it reduces the costs of introduction market research as well as advertisement while increasing the possibilities of success as a consequence of the higher rate of preference that is derived from the already existing brand equity (Chen and Liu,2004). Keller (1993) points out that all studies on the successful extension of a brand are based on the assumption that a given brand is a collection of associations. The parent association can therefore successfully influence the reactions of the consumers to the given brand extension as noted by Bhat & Reddy (2001). The antecedents of a successful brand extension are parent brand effect and parent brand. Despite all the advantages of employing brand extension as strategy, Taylor (2004) indicated that one in two brand extension initiatives often fail. Some critics denounce the concept of brand extension vigorously since they feel that it makes companies to lose focus as well as makes their customers confused. Other experts however maintain that the concept of brand extension is very critical to a company's growth strategy. In this paper we are we present these conflicting views and then chose one which best serves the interest of both the shareholder while leaving the customer…… [Read More]
Seventh Brand Attribute: The brand's managers understand what the brand means to consumers.
Again on the initial introduction of the brand, RIM did not understand that the brand was actually a compilation of many factors, with the product being just one small part of that mix. The reliance on using Blackberries for staying in touch constantly also had a very reactive tone to the messaging. While trying to show how people could be responsive they made their brand appear to be addiction to reacting instead. The re-definition of the brand with a strong focus on the personas and identities of top customers however re-cast the brand to show how they understood the most pressing needs of the highest achieving customers it has. The company further tried to communicate in their re-cast branding the value of time and initiating projects, invoking change, and making things happen over merely reacting.
Eighth Brand Attribute: The brand is given proper support, and that support is sustained over the long run.
This is an attribute that is just now becoming evident with the RIM brand, as the previous branding strategies have lacked a synchronized approach to managing all aspects of the marketing and messaging mix. The lack of support for the purely technological and reactive messaging in the first generation of RIMs' branding opened the company up for many criticisms as the brand, in its mystique of speed of response, did not capture the more critical values of work/life balance or the need for taking control of ones' time. Messaging today however is concentrating on these social values and is also supported through a series of other marketing, PR, and Web-based marketing campaigns and programs.
Ninth Brand Attribute: The company monitors sources of brand equity.
In the initial branding efforts, this attribute was terribly managed as the brand became quickly associated with workaholics that could not stop typing even in the middle of their daughters' recitals (Columbus 2005). The lack of control over ones' life but the high importance of the Blackberry as a status symbol of time urgency quickly wore out however,…… [Read More]
Opponents to the idea that a brand can live forever point out the many popular brands that have died out in the past. True, there have been a lot of brands that have gone the way of the dinosaur. But there are also many brands that are still around, and that have endured. They are the same companies and the same brands, but in most cases they are not the same products. They have stretched their brands and extended them, and that has allowed them to remain competitive within a changing marketplace. Brand stretching and brand extension are both very significant tools for almost any company when it comes to keeping a brand not just alive but thriving (Clifton & Maughan, 2000).
Brands that are allowed to grow and change according to what customers want and need will stick around, provided the products are good quality, reasonably-priced, and well-marketed. Brands that refuse to change because 'that's how we've always done it,' will generally fade away completely. Some of them manage to hang on, but they lose a great deal of their market share to newer companies that are giving customers what they want in today's market. Then these older companies lament the fact that customers do not seem interested in them anymore and they wonder what they can do. They could have avoided all of that.
In short, it is not the brand that decides whether its life will be finite or infinite. It is the way that the brand is presented and treated by the company that has created it. A company that wants to stay on the cutting edge and continue to have high market share will adapt its brand to meet the demands of consumers. A company that is not willing to address this issue may see the brand -- and the entire company -- die out. As unfortunate as it is, this is what has happened throughout time to some good brands and good companies that as simply not around anymore.… [Read More]
The main benefits of extension using the already established successful brand of the parent are: reduced costs, the fact that it may prevent competitors from filling a niche, reduced shelf space available to competitors, and the filling of a gap in the product line that customers want to see filled. However, there are risks such as weakening the parent brand or cannibalisation of the market share of the original product. Extensions may damage consumer faith of the parent; the managerial time and budget will be split and the lack of focus could undermine the brand message; retailers have only limited space, and additional lines demand more space. Retailers may just allocate the extension some space from the brand's existing allowance, maintaining the same total allocation but now split between more products.
Brand stretching is more risky since it involves diversification into an unrelated area of business. Stretching is a leap away from the initial technology (Kapferer 1997). Firms need to be aware of previous failed attempts to try to use the reputation of an existing brand in a new market. Most companies should really avoid brand stretching. However, brand extension -- when studied carefully and done right -- are a very important way to grow a brand. They can cause brand harm if they are not addressed correctly, though, so that means that there has to be a lot of up-front research done before any company moves into extending its brand. Some extensions will work much better than others, as well, so how to extend and in what directions are vital things to know before any company decides to move forward with extending their brand.… [Read More]
brand strategy is a challenging task for many companies but it is a vital step in giving the company an identity of its own. It is this identity that is repeatedly communicated thought the business life. Developing a brand management strategy involves applying marketing techniques to a brand, or a product with the intention of giving it a unique image and to set it apart from the competitors. We will focus on the competitive analysis or model analysis that will briefly introduce our project, the competition or model, as well as describing the strengths and weaknesses of the competition or model.
The group is intending to come up with the shuttle bus service which is to serve the York collage, its student as well as staff. This shuttle bus service will transport valid students and staff from York College to predetermined stops in the area. By doing so, the shuttle service will down size on the foot traffic as well as congestion, comprised of students trying to get to where they need to go, around the campus as well as be an added benefit to those students who have to travel great distances to attend York College. This overwhelming majority of students make up a considerable portion of our target audience who we feel will reap the rewards of this service in the long run.
Our target users include but aren't limited to all students and faculty who attend evening classes at York College. An astounding percentage of students at York do not live close by and must travel immense lengths to attend or teach classes here. A large majority of these people also have outside responsibilities that prevent them from taking or instructing earlier classes. This makes travel to and from the college essential. More importantly, the area in which York College is located isn't the best when it comes to personal safety at night. Understanding…… [Read More]
Branding, And Branding Management
Brands and branding are not new concepts in business. During the Stone Age, hunters used particular brands for their swords in hunting. Since then, the concept of brands and branding has developed in terms of knowledge, procedures and theories. Some theories used concerning branding, originated primarily because of the development of commercials in media. Companies have realized the importance of branding, which has added to the interest of theories behind the concept of brands and branding. This in turn has led to substantial literatures on the subject of brands and branding. Branding has undergone evolution, but the concepts of branding continue being central in every stage of evolution. In addition, branding management has also undergone substantial change since the 1950s (Marquadrt, Makens, & Larzelere, 1995).
Background: Evolution of Branding
Prior to the 1970s, branding was not a matter of attention. Even countries that understood the potential advantages of a strong brand disregarded branding. Interestingly, the firms did not charge more for branded products, when compared to non-branded products, which made it less attractive to emphasize branding. This found its way to legislation, and there were firm consumer movements that discouraged branding. From a consumer perspective, the historical consumers did not care about branding. This also reflected the poor management in the companies, in terms of branding because the companies did not care (Marquadrt, Makens, & Larzelere, 1995).
The management did not focus on branding concepts, perhaps because they failed to see the anticipated benefits. Prior studies show that consumers favored products from renowned brands, but a large proportion considered price as a crucial aspect when buying a product. Over time, the concept of branding emerged; brand loyalty. This raised debates, and many firms started investing in branding. However, there was inadequate evidence to link brand loyalty and profits, and…… [Read More]
Managing Diversity and Equal Opportunity
With the turn of the 21st century, a dramatic increase is being witnessed in the international flow of labor with repercussion for domestic labor supply and management. The native, racial and emigre mixture of the employees is predominantly important for the workplace. The importance of this domestic cultural multiplicity in the labor force, highlighted by worldwide influences and necessities, has lately encouraged the researchers to focus on the companies' and managers' response to diversity, be it of any form (Watson, Spoonley, & Fitzgerald, 2009).
If the workforce of the present times is compared with the one that was found 20 years ago, it will be easy to observe that there are "more white women, people of color, disabled persons, new and recent immigrants, gays and lesbians, and intergenerational mixes (i.e., baby boomers, Generation Xers, and Generation Nexters)" (Riccucci, 2002) today. This situation has given birth to quite a number of challenges for the management at the workplace. The approach with which employers hold this opportunity of diversity is the determining factor that will unmistakably make a distinction between successful and well-organized organizations from those that are uncreative and not capable to meet the requirements and necessities of the people in the 21st century (Riccucci, 2002).
In the present day, municipal and private sector companies are on the edge for creating creative workforces that can actually represent the global population instead of symbolizing the national populace (Riccucci, 2002). This paper discusses the current status of diversity management and equal opportunities and the ways to manage a diverse workforce.
A diverse workforce can be defined as "a workforce made ... distinct by the presence of many religions, cultures or skin colours, both sexes (in non-stereotypical roles), differing sexual orientations, varying styles of behaviour, differing capabilities, and usually, unlike backgrounds" (as qtd. In Ollapally & Bhatnagar, 2009).
Workplaces where there is a lack of management of diversity are ones where the marginal groups experience a disconnection from the social network. "Diversity management" is a wide-ranging filament of organizational supervision literature that was developed in order…… [Read More]
The History of Apple Corporation
Strategy Development and Implementation
The History of Apple Corporation
The corporation has an exciting history, as it has transformed to the biggest and most successful technology firms in the world, under the best managers of time. Both the employees of the firm, the management and the product consumers have been linked to the firm's success. The firm was started with the two Steves, who from their early lives had shown considerable interest in electronics. Steve Jobs and Steve Woznlak were former employees at Atari and HP respectively. However, in April 1976, the two conceptualized the Apple computer, which was among the first personal computers at that time. The company has focused on products that are innovative and new in the market ever since it was started. It is Job that started developed the legendary Macintosh, which is known to many as 'Mac'. There have been tremendous changes and product developments in the firm and currently the firm has products that meet the consumer demands, in terms of design and innovation (Schermerhorn, 2011).
SWOT and IE Matrices for Apple
The SWOT Matrix
When a business is undergoing transformation and development, the SWOT matrix is a powerful tool that can be used to decide on the best strategies any organization, so that the strategies focus on the advantages of the organization, which include the strengths and opportunities of the organization. The advantage the organization holds can be used to counter the external threats and overcome the weaknesses of the firm. The SWOT matrix for Apple Corporation is illustrated in figure 1.1.
The IE Matrix
This is the Internal External matrix, which is the other management tool that is used to assist in the strategizing of businesses. Typically, the IE matrix works based on the EFE and IFE matrices, which are plotted on a nine-cell template, with the EFE on the y-axis and the IFE on the x-axis. Lines are drawn from the axes, and their meeting point is the position where the strategies are to focus. Total weighted scores are used to determine the positions. When drawing the EFE on the y-axis, the scores…… [Read More]