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Dave (2002), puts it that "The Brand Equity measure summarizes consumer perceptions on five dimensions: Familiarity, Uniqueness, elevance, Popularity, and Quality." From this, it is apparent that the promotion point and reputation of any company and products is hinged on the brand equity.
Why companies fail in brand equity
All it takes to shrink a brand in today's hyper-linked global network is a single mistake and errant behavior. For instance the recent challenges that IBM and the Toyota brand faced simply due to a defect in their product.
The challenges extend beyond erroneous policies and errant behavior. Global brands must also contend with the fundamental reality that consumers tend to prefer domestic brands over foreign brands. Studies show that home-grown brands get preference over the foreign brands. In some of the world's biggest and richest markets (the U.S.,…
Dave W. (2002). Building Brand Equity Through Advertising. Retrieved on April 11, 2010 from http://www.ipsos.com/asi/sites/ipsos.com.asi/files/pdf/rc5.pdf
Kenneth J.R, (2010). Creating the Preeminent Global Brand. Retrieved on April 11, 2010 from www.lippincottmercer.com/pdfs/s95_creating.pdf
Coke's Brand Equity
One of the most important factors for all firms is protecting and improving their brand image. This is because the favorability of a company and the products / services they are selling will have an impact on sales. As a result, the most successful corporations will harness this strategy in order to effectively reach out to large demographic of customers.
In the case of Coca Cola, they have been utilizing this approach since 1919. At the heart of their basic philosophy, is to always create a favorable brand image in minds of consumers. To achieve these objectives, the company's strategy has always been focused on promoting itself to customers. To fully understand how this is achieved requires looking at: the desired outcomes of their marketing communications program, how the different brands were able to remain strong, the role that image plays in advertising and how they compare…
Coca Cola Marketing Mix. (2012). Hub Pages. Retrieved from: http://bilaras.hubpages.com/hub/Coca-Cola-0
Bell, L. (2004). The Story of Coca Cola. Mankato, MN: A+
Brand Equity and Customer Purchasing Behavior
Taking into account the numerous modifications witnessed in the marketing milieu- viz. The accessibility to plethora of knowledge through various electronic devices, the emergence of modern methods of buying, the ability of the companies to use technology to target consumer more specifically, getting a feel of customer tendencies is still more difficult. Purchasing activities is the sequence of choice and actions of individuals occupied in procuring and consuming the same. An enterprise must evaluate its purchasing activities. Purchaser's responses to the marketing technique of the enterprise put an enormous influence on the achievement of the enterprise. The marketing perception highlights that an enterprise must build up a unique blend of marketing initiatives that makes the customers happy, and hence the urgency to evaluate the substance, the place, the time and the purchasing pattern of consumers and by way of addressing this, marketing personnel can…
Aaker, David A. 1996. "Measuring Brand Equity across Products and Markets" California Management Review. Volume: 16; No; 2; pp: 43-47
AMR Research Report. 2004. "POS Data: The Beginning of DDSN for Consumer Products Manufacturers" February.
Anderson, J.C; Cleveland, G; Schroeder, R. 1989. "Operations Strategy: A Literature Review" Journal of Operations Management. Volume: 8; No: 1; pp: 56-64
Baker, M. 2000. Marketing Management and Strategy" Macmillan Business.
difficulty in measuring brand equity for a brand like Coca Cola. Investopedia defines brand equity as the value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. As an example, they mention Coca Cola, whose consumers are willing to spend additional money to buy Coca Cola rather than the store brand of soda (Investopedia, 2011).
One scenario when brand equity is important occurs when a company wants to expand its product line. If the brand's equity is positive, the company can increase the likelihood that customers will buy its new product by associating the new product with an existing, successful brand (Investopedia, 2011).
According to Peterson, brand equity is difficult to measure because much of it depends on consumers' opinions about and perception of a brand. Measuring Coca Cola products brand equity is also made more difficult because the company has…
Investopedia. (2011). Brand equity. Retrieved July 24, 2011 from http://www.investopedia.com/terms/b/brandequity.asp
Peterson, N. (2008). Measuring brand equity with Coca Cola products. Retrieved July 24, 2011 from http://ezinearticles.com/?Measuring-Brand-Equity-With-Coca-Cola-Products&id=1712240
Sinclair, R. (n.d.). The importance of brand equity in creating firm value. Retrieved July 24, 2011 from http://www.prophet.com/downloads/whitepapers/sinclair-brand-equity-firm-value.pdf
Marketing and Branding
Discuss the history of brand and ways brands have evolve over time.
The history of brand has quickly evolved from a relatively simple approach taken by companies to differentiate their products and services by name or graphical representation alone to highly targeted, effective, emotive approaches to communicating value. Brands have evolved from fairly generic approaches to communicating the functional value of a product or service to evoking emotions customers attain when using them. An example of this is the progression of Proctor & Gamble (P&G) to communicate the utilitarian values of soap in the previous centuries of their branding to the psychographic benefits to parents of providing clean clothes for their children. P&G continues to excel on this progression from the utilitarian or functional value their products deliver to the psychographic and emotive nature of them. Today the branding and positioning from P&G and other consumer packaged…
The company's competitive positioning through brand equity can be seen in the variety of specialized out-door gears and clothing which is offered for any sex, age, and activity type. The fact that REI is very environment oriented and emphasizes on this fact in its advertisement and catalogs very much can also be seen as a major advantage, since its customers are the real out-door enthusiast which see the environment as a main part of their lives. Also the company offers travel services around the globe for its members and customers which increases the brand awareness for its products.
Major competitors to REI are companies such as L.L. Bean Inc., Patagonia Inc., and the Sports Authority Inc. The competitive factors for REI are the way their mission statement holds true to this day: "e inspire, educate and outfit for a lifetime of outdoor adventure and stewardship." Furthermore, the way the company…
NAI. (2010). Recreational Equipment, Inc. Retrieved May 28, 2010, from Recreational Equipment, Inc.: http://www.hoovers.com/company/Recreational_Equipment_Inc/hcxjji-1-1njdap.html
NAI2. (2010). What are the differences in REI competitors? Retrieved May 28, 2010, from WikiAnswers - Shopping: http://wiki.answers.com/Q/What_are_the_differences_in_REI_competitors
Wikimedia Foundation Inc. (2010, Mai 19). REI. Retrieved May 26, 2010, from Wikipedia: http://en.wikipedia.org/wiki/REI
1.Johnson & Johnson has been able to establish strong brand equity for its line of baby products. What benefits does J&J have because of its brand equity for these products?
The advantages of having a strong brand equity are that it increases the visibility of the company’s product and makes them more attractive to consumers. The brand has the benefit of a good reputation in the minds of consumers: they see the brand of the product and immediately expect it to work and be a good product. This in turn helps the company to grow its sales and increase its margins. The more popular a brand becomes, the greater the premium the producer can charge. For example, if a Johnson & Johnson is selling baby powder that is similar to what a generic off-brand is selling, Johnson & Johnson can still charge more for their product because of the…
Cultural analysis of the Fortress Company focuses on different perspectives, including its competencies, behaviors, organization, and social fabric. The competencies of the company are varied. The company has an asset-based nature that contributes to its competencies. The company invests in various activities including assets to extend its influence on pricing, ownership, and financing of the company. It has vast industry knowledge that enables it to acquire the desired competitiveness by investing in profitable markets. The established management system of operations for assessing the structural and strategic challenges that face the organization. The company also has its competence in corporate acquisitions and mergers alongside significant capital markets that build its competencies.
The behaviors adopted by the Fortress Company show its excellent performance in the marketplace. The expansion of the company's outlets in new markets has contributed significantly to its performance. It has developed organizational culture that has earned it the desired…
The methodologies behind consumer-driven
versus data-driven approaches vary by company yet both share a common
result of quantifying in financial terms the value of a brand.
In determining the value of a brand, its critical to first select a
methodology that fits with the specific type of company that is working to
increase the value of the brand. Consumer-driven factors that define brand
equity value vary significantly from those from data-driven methodologies
as defined by (Market esearch Executive Board, 2005) and the specific
examples of Interbrand and BrandFinance. Ascertaining the best methodology
for measuring the value of a brand needs to take into account segmentation,
financial forecasts, brand value and brand risk analysis to arrive at a
reasonable and accurate valuation of a brand.
Market esearch Executive Board (2005) - Overview of Brand Equity
Measurement Approaches. Market esearch Executive Board. September, 2005.…
Market Research Executive Board (2005) - Overview of Brand Equity
Measurement Approaches. Market Research Executive Board. September, 2005.
Washington, DC. September, 2005.
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
Dune, P.M.m Lusch, R.F., Carver, J.R., 2010, Retailing, Cengage Learning, ISBN 1439040818
Glynn, M.S., 2009, Business-to-business brand management: theory, research and executive case study exercises, Emerald Publishing Group, ISBN 1848556705
Gould, K., Hosey, L., 2007, Women in green: voices of sustainable design, Ecotone Publishing, ISBN 097490337X
As a result, brand name online is becoming increasingly important, especially for those companies who have existing business models that are based on retail operations. These include Wal-Mart, J.C. Penny, Kmart, Target and Sears who each experienced more than a 20% growth in the number of unique visitors to their sites after launching major online branding initiatives in 2001 (Janoff, 2001). Many studies also suggest that most customers do not distinguish between branding efforts online and offline, and prefer to the interactivity and knowledge available from websites and online tools as viable alternatives to learning more about a company. Personalization of websites is 25 times more likely to generate return traffic (Chiagouris & Wansley, 2002), and that the most successful offline and online brands do not confuse customers with variations in messaging between each approach.
eferences (Ciagouris, P & Wansley, G 2002), "Branding on the Internet,' MarketingPower.com. 25 June 2002.…
References (Ciagouris, P & Wansley, G 2002), "Branding on the Internet,' MarketingPower.com. 25 June 2002. Retrieved December 12, 2007 from EBSCOHost.
Janoff 2001, "Top Retailers Reaping Rewards of Online Branding," AdWeek (1 August 2001). Retrieved December 12, 2007 from EBSCOHost.
Brand Strategy Management
Nespresso Brand Strategy
History of Nespresso
Mission and Ambition of Nespresso
Business Product ranges
n home product Ranges
User Segmentation and Target Market
The evolution of the Packaging
Design of The Boutique
Nespresso brand equity
ncrease the number of boutique stores
Brand Association and management
History of Nespresso
Nestle was founded in 1866 by Henri Nestle in Vevey, Switzerland. Today Nestle is the world largest corporation in the food, nutrition, health, and wellness markets. The company now has more than 8000 products in their portfolio in various markets and they own over 140 brands. Since the beginnings, Nestle has been loyal to the traditionally and healthy made products. n 2012…
In 1987 the first Nespresso system was launched in Italy the world largest espresso drinking market and Switzerland, Nespresso's hometown follow by Japan the fastest growing of Asia's coffee market, strategy in targeting the business sector. By the end of 1987 only half of the manufactured Nespresso's machines were sold due to limited of this sector and subsequently, in 1992 Nespresso strategy was shift to focus in household market and targeting consumer at the top of market as its believed to build long-term business with discerning consumer Nespresso have to be in household market (IMD International, 2003).
Nespresso accomplished break-even in 1995 and became one of the fast growing business in the Nestle' corporation. Even with the economical crisis, the increase of competition and the increase of raw materials nothing seems to stop Nespresso's growth. Since 2000 Nespresso's sales have been multiplied by 16 (or 30%) to attain 2,5 billion euros. Furthermore, the company sold 450 millions capsules in 2000 and 6 billion in 2010. To give you an idea 12,300 cups of Nespresso are drunk each minute in the world. (Bader, 2011)
In the present Nespresso is actually the leader in the European market. It is present in markets all around the world for instance Belgium, Germany, Great Britain, America and Japan. Most of the sales of Nespresso are account at 80% by Europe while the rest of the world provides for the 20% left over (Bader, 2011). In 2012 Nespresso open 270 boutiques in the big city and employ more than 7000 around
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…
Aaker, D.A. (2004). Brand Portfolio Strategy. New York: Free Press.
Aaker, D.A.; Keller, K.L. (1990) Consumer Evaluations of Brand Extensions, Journal of Marketing, Vol. 54, No. 1, pp. 27-41.
Bhat, S., & Reddy, S.K. (2001). The impact of parent brand attribute associations and affect on brand extension evaluation. Journal of Business Research, 53, 111-22
Chen, K.F., & Lue, C.M. (2004). Positive Brand extension trial and choice of parent brand. Journal of Product and Brand Management, 13(1), 25-36.
Premier Portraits: Online Branding Proposal
Premier Portraits is a luxury brand. Its customers are not interested in bargain prices but in quality and the prestige of having a custom photographic portrait of themselves or a loved one ("Different Types of Goods," 2016). Given that the target audience comprises corporate executives, sports figures, politicians, actors, and other people in the media or with significant income, price not a concern versus crafting an image of exclusivity. In the case of some media figures, the portraits may be used in marketing their own personal brand.
The core product should be a personalized digital photograph altered and retouched to customer specifications. For example, some of the portraits may be altered to look as if they were painted by famous artists like Rembrandt in his traditional chiaroscuro style. Other portraits may have handcrafted touches, like actual oil painting superimposed upon them. Each product…
' Even if the brand has an indelible image, if tastes change, the company must vary its formula and change its brand associations. Because of the increased concern about obesity, which has come to outweigh concerns about convenience, McDonald's image as a family-forward, all-American company has become tarnished, and now the fast food giant features healthy options as well as its large portions. Its commercials proclaim the cheapness of its dollar menu rather than feature images of families eating under the golden arches. Instead of seeming hypocritical by stressing family values, McDonald's stresses the ability of consumers to save money by eating its food and makes a token nod to obesity concerns by offering salads.
However, equally dangerous as not varying the brand image to change with consumer tastes is expanding too quickly and diluting the successful image of one's brand, as some feel may have occurred when Starbucks began…
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.
Glynn, M.L., 2009, Business-to-business brand management: theory, research and executive case study exercises, Emerald Group Publishing
Jones, E., 2011, the dos and don'ts of reputation management, Trackur.com, http://www.trackur.com/the-dos-and-donts-of-reputation-management last accessed on April 23, 2012
Knowles, a., So what are the do's and don'ts for choosing a…
Glynn, M.L., 2009, Business-to-business brand management: theory, research and executive case study exercises, Emerald Group Publishing
Jones, E., 2011, the dos and don'ts of reputation management, Trackur.com, http://www.trackur.com/the-dos-and-donts-of-reputation-management last accessed on April 23, 2012
Knowles, a., So what are the do's and don'ts for choosing a brand? WIPO, http://www.wipo.int/sme/en/documents/brand_choosing.htmlast accessed on April 23, 2012
Weib, C., 2007, the influence of brands and images on the financial performance -- an empirical investigation on the EuroStoxx 50, GRIN Verlag
Seventh Brand Attribute: The brand's managers understand what the brand means to consumers.
Again on the initial introduction of the brand, IM 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.
Columbus, L (2005). Blackberry: The Paradox of CRM. Retrieved December 13, 2007, from CRMBuyer.com Web site: http://www.crmbuyer.com/story/44304.html
Keller, K (2000).The Brand Report Card. Harvard Business Review. January-February, 2000, 3-10.
Kelly, M (1998) - Paying for that old brand magic: Marketing branding professional services, Financial Times, August 12, 1998.
Market Research Executive Board (2005) - Overview of Brand Equity Measurement Approaches. Market Research Executive Board. September, 2005. Washington, DC. September, 2005.
The overarching brand of the store is coordinated with these sub-brands to accentuate breadth of selection and an aggressive direction on Everyday Low Price (EDLP) positioning. Wal-Mart's influence on its supply chain partners, the ability to continually drive down costs and increase quality, and its use of EDLP on Black Fridays (the shopping day after Thanksgiving in the U.S.) have continually reinforced the brand and also created a significant competitive advantage vs. competitors K-Mart Corporation and Target. K-Mart's positioning on EDLP historically has been to concentrate on low-priced leadership through its blue light specials throughout the store. In 2001, in an attempt to counteract the effects of Wal-Mart on its brand and market position, K-Mart initiated the "Blue Light Always" program to further underscore their EDLP strategy on 30,000 items, primary comprised of food, consumable and other high-frequency items. Consumers however did not equate the Blue Light Always campaign as…
In devising these research projects, a series of focus groups would be organized in ten metro cities located throughout the U.S., and the questions would specifically focus on the taste, anticipated price, use as refreshment or as an energy-enhancing drink during or before workouts or participating in sports. The focus groups would be held in research centers in the ten cities, and would concentrate on a blind taste tests between the proposed product and leading drinks in the category. The questions would also concentrate on how the proposed energy drink could be mixed with other beverages, and what specific outings, sporting events both as participants and also as spectators, the drink would be taken to. Distribution and availability would also be discussed in the focus groups. All of these specific questions would be organized into a research questionnaire completed during the focus groups following a blind taste test of the…
Columbus (2006) - Bringing the Value Back Into Value Propositions. CRM Buyer Magazine. Accessed from the Internet on November 7, 2007:
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…
Brodie, R.J., Glynn, M.S., Van Durme, J. (2002). Towards a Theory of Marketplace Equity:
Integrating Branding and Relationship Thinking with Financial Thinking. Marketing Theory, 2(1), 5-28
Doyle, P. (1989). Building successful brands: The strategic options.Journal of Marketing, 5(1),
Branding is a critical source of competitive advantage for firms. It is one of the only sources of sustainable competitive advantage, because your competitors can never duplicate your brand. This paper will explore the value of branding, to highlight the ways that a company can create, reinforce and leverage its brand to enhance corporate value.
Nature of Branding
A brand is a significant source of differentiation between products, and in many cases it is the primary source of differentiation. The brand is the name and marque of the product or company, and the value of a brand lies in its ability to communicate in shorthand a set of attributes to the audience (Wood, 2000). The more strongly the attributes are associated with the brand, the more effective the brand is.
Companies create their brands in order to convince consumers that these attributes are valid. Sometimes the attributes are related to…
De Chernatony, L. (2010). From brand vision to brand evaluation: the strategic process of growing and strengthening brands. Butterworth-Heinemann: Burlington, MA.
Van Bruggen, G., Antia, K., Jap, S., Reinartz, W. & Pallas, F. (2010). Managing marketing channel multiplicity. Journal of Service Research. Vol. 13 (3) 331-340.
Wood, L. (2000). Brands and brand equity: Definition and management. Management Decision. Vol. 38 (9) 662-669.
he brand Excels at delivering the benefits customers truly desire
he ability of Ford Motor Company to integrate the Range Rover brand into its broader branding strategies has forced the company to concentrate on the unique legacy of off-road reliability while looking to capitalize on the upscale image of the New Discovery, an upscale family SUV launched in 2002 by Ford after the acquisition. he benefits of safety and stability for the families purchasing the vehicle are well defined, as are the ruggedized frame for the off-road enthusiasts. he brands' management in Ford however is starting to embrace a more upscale image through movie placement (Ford Press Release 2002) in the move "Die Another Day" in addition to the use of event-based marketing to increase the appeal among higher-end SUV and luxury car owners (Land Rover. 2002).
he brand stays relevant
he brand overall has successfully stayed relevant through the…
The initial pricing strategies for the Range Rover were set to appeal to off-roaders and families looking for a suburban SUV. As a result of those branding and marketing strategies, the pricing was relatively low for the upscale market. With the inclusion of more features and a gem-like grill and interior features (Solman 2005) the brand and the image of the SUVs are becoming increasingly seen as comparable in value to the higher-end SUVs on the market, in their competitive arena.
The brand is properly positioned
According to this attribute from the scorecard developed by Keller (2000), there is a single, strong message of the brand communicated. On this point, Range Rover struggles as it has a dual message of both being off-road, suburban and also upscale. The dominant two messages of off-road and upscale often lead to the suburban message being lost however. On this attribute, Range Rover is not performing
For both B2B and B2C-based organizations, a highly differentiating story is the highest priority from a current best practice or trend standpoint for managing and promoting a brand image. Figure 3, Top Challenges Creating and Managing a Brand, shows a prioritization key challenges from a marketing, sales and executive management perspective. At the top of all factors is differentiating with a story followed by linking brand value to business objectives.
Figure 3: Top Challenges Creating and Managing a Brand
Source: (Analysis of eports Accessed with Permission from the Publisher & Jump, 2012).
Assessment of Brand Management Theories and Best Practices to Build Consumer Trust
Dr. Aaker's theories and frameworks including the Aaker Model illustrate how brand management is a highly synchronized strategy, encompassing every aspect of an organization (Aaker, 2007). As has been shown in this analysis the future of branding is predicated both on the pried advances related to…
Aaker, D. (2007). Innovation: Brand it or lose it. California Management Review, 50(1), 8-24.
John M.T. Balmer. (2012). Corporate brand management imperatives: Custodianship, credibility and calibration. California Management Review, 54(3), 6-33.
Bogomolova, S., & Romaniuk, J. (2010). Brand equity of defectors and never boughts in a business financial market. Industrial Marketing Management, 39(8), 1261.
Bronnenberg, B.J., Dhar, S.K., & Dube, J. (2007). National brands, local branding: Conclusions and future research opportunities. JMR, Journal of Marketing Research, 44(1), 9-9.
The branding of Kazakhstan as a tourist destination 'Branding' is a critical component of selling any product or service and this is no less true in regards to marketing a tourist destination than it is of a container of soap or a car rental company. When marketing to tourists, it is essential to convey a brand's unique value to likely purchasers. "For destinations, effective differentiation is critical given the increasingly competitive nature of tourism markets, where many places offering similar features are becoming substitutable" (Pike 2009: 857). In the case of Kazakhstan, one would be marketing a country which has not traditionally been a destination of choice for many tourists. However, exoticism can also have a certain appeal for a certain 'type' of tourist. A former republic of the U.S.S.., Kazakhstan is now mainly known for its rich oil and gas resources but it is striving to…
Kazakhstan travel information. (2013). Visit Kazakhstan. Retrieved from:
Pike, S. (2009). Destination brand positions of a competitive set of near-home destinations.
Tourism Management, 30 (2009) 857 -- 866
Roadmap of Co-branding Positions and Strategies, the Journal of American Academy of usiness, Cambridge, Vol. 15, Num. 1, September 2009
The delicate balance of managing brand equity across multiple product lines and brands vs. attaining a unified global brand capable of serving as a scalable platform for future growth is explored in Roadmap of Co-branding Positions and Strategies (Chang, 2009). Illustrating how co-branding strategies need to be applied in the correct customer, product, messaging and service context, the author successfully shows how the organizational level of co-branding is just as important as the co-branding type of strategy implemented. Using the example of the HP-Compaq merger as the basis of how to implement enterprise-wide co-branding initiatives, the author shows how this strategy differs significantly from the cooperation-based co-branding of SONY and Ericsson and their many co-development projects in the mobile industry (Chang, 2009). Contrasting these are the department-level coordination…
Chang, W. (2009). Roadmap of Co-Branding Positions and Strategies. Journal of American Academy of Business, Cambridge, 15(1), 77-84.
The corporation or seller could benefit by developing marketing strategies prior to consumer reviews being available online.
Seller Response to Novice and Expert Consumers
efore allowing consumers to post product reviews on a corporations or sellers website, the seller should consider the size of the segments of expert consumers and novice consumers. For example, the seller may benefit from selling certain products if a significant number of expert consumers exist, especially for technology driven products. On the other hand, the seller may damage sales if the expert consumers' segment overshadows that of the novice consumers.
Unknown or Less Popular Stores Online Seller Response
Relatively unknown corporations should be overly cautious when allowing consumers to post comments on their websites. If brand marketers fail to attract enough consumers to post reviews, the corporation may damage its reputation. these corporations might consider hiring a well-known, popular third-party source to handle consumer reviews.…
About the Motley Fool. 2010. Viewed 28 June 2010, .
Ajay, K & Soberman, D 2010. 'The forgotten side of marketing.' Journal of Brand Management. 17, 301 -- 314. Viewed 28 June 2010,
Baran, J, Galka, RJ & Strunk, DP 2007. Principles of customer relationship management. Florence, KY: Cengage Learning.
Brand equity is becoming a necessity within the modern day business climate, when economic agents compete not only for market shares, but also for the best employees, the best technologies or the best resources. In this setting, brand equity provides competitive advantages and points of differences and is essential.
The creation of brand equity varies across industries, across economic agents and it depends on various elements. In other words, there are no secret recipes to creating brand equity, but Yahoo! has to devise its own strategies based on its own specifics. Some of the features which can impact the brand equity strategy would include the size of the company and its resource availability, the marketing expertise it possesses, the features of the market it addresses or the nature of the items it sells.
In terms of the items commercialized, it could be argued that brand equity is created differently at…
Tonnis, R., International branding -- an internationalization approach on the marketing level, GRIN Verlag
Nworah, U., Nigeria as a brand, Brand Channel, http://www.brandchannel.com/papers_review.asp?sp_id=604 last accessed on November 11, 2011
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" (Sinha and atra, 1999)
Sinha and atra state that "most researchers now content that a generalized price -- quality relationship does not exist" although the "degree to which a higher price implies higher quality" has been examined and as well has been the "topic of considerable research in marketing." (1999) Therefore for the purpose of this study this antecedent relating to price consciousness will not be a variable in understanding the questions posed in this study.
Sirha and atra (1999) state that this inference "is widely accepted as being context-specific, moderated by situational characteristic such as the extensiveness of a consumer's cognitive schemes and his/her product class knowledge" and cite the work of Peterson and Wilson (1985). Therefore, it can be understood that while the consumer might believe that a higher price being paid obtains the same equal receipt of quality in some categorical purchases but yet not in…
Aiken, Leona and Stephen West (1991), Multiple Regression: Testing and Interpreting Interactions. London: Sage Publications.
Ailawadi, Kusum and Bari Harlam (2004), "An Empirical Analysis of the Determinants of Retail Margins: The Role of Store Brand Share," Journal of Marketing, 68 (January), 147 -- 66.
Ailawadi, Kusum and Kevin Keller (2004), "Understanding Retail Branding: Conceptual Insights and Research Priorities," Journal of Ailawadi, Kusum L., Pauwels, Koen and Steenkamp, Jan-Benedict E.M. (2008) Private Label Use and Store Loyalty. Journal of Marketing Vol. 72 (November 2008), 19 -- 30. 2008 American Marketing Association.
Ailawadi, Kusum, and Scott Neslin, and Karen Gedenk (2001), "Pursuing the Value Conscious Consumer: Store Brands vs. National Brand Promotions," Journal of Marketing, 65 (January), 71 -- 89.
The luxury brands in this age of fierce and intense competition perceive and believe that the conventional methods of advertising and promotion are only an itinerary that creates the knowledge and awareness amongst the consumers. Nevertheless, targeted marketing (that represents the emotional driving force) is becoming the primary and fundamental aspect of concern that many of the brands are focusing in order to create emotional engagement with the consumers that can provide them lasting relationships and loyalty from the consumers (Buckingham 2008).
However, looking at the perspective of the brand of Swarovski, it has been monitored that they have created a consumer-based pyramid in order to keep closely connected to the consumers' emotions and feelings. In this regard, they ensure high quality with proper detailing of the product during the manufacturing process and make the product a perfect one that can easily catch the attention of the consumers. They very…
American Birding Association 1998, Winging it: newsletter of the American Birding Association, Inc., Volumes 10-11, the Association, USA.
Baker, R 2012, 'Swarovski targets teens with new brand', MarketingWeek News, viewed September 05, 2012: http://www.marketingweek.co.uk/news/swarovski-targets-teens-with-new-brand/4000078.article
Becker, V & Taylor, JB 1995, Swarovski: the magic of crystal, H.N. Abram, Michigan
Becker, V, Langes-Swarovski, M & Le Gallais, R 2005, Daniel Swarovski: A World of Beauty, Thames & Hudson, Limited, USA.
drive brand extension success, and how these factors affect the decision to introduce a new product. Brand extension refers to the corporate activity whereby companies introduce new products, new product variants or product improvements by leveraging the brand equity of the existing parent brand (Roll, 2011).
The use of established brand names to launch new products is a frequently used branding strategy. In general, extending brands both within and beyond the original product category is profitable because it is assumed that brands are already known and recognized. As a result, the new product therefore requires lower introduction expenses, such as advertising, trade deals, or price promotions (Volckner and Sattler, 2006).
Even so, brand extension success is uncertain. According to Volckner and Sattler (2006), studies have shown failure rates of approximately 80% in many fast-moving consumer good product categories. Their research also reveals the kinds of success factors that play an…
Langlotz, Holger. (2008). What are the chances and risks of brand extension strategies. Trinity College, University of Dublin. Retrieved July 27, 2011 from http://holgerlanglotz.de/downloads/BU3510_BrandExtension_Langlotz.pdf
Roll, Martin. (2011). Brand extension success -- new profit growth. Retrieved July 27, 2011 from http://www.adoimagazine.com/newhome/index.php?option=com_content&view=article&id=2180
Volckner, F. And Sattler, H. (2006, April). Drivers of Brand Extension Success. Journal of Marketing, 70, 18-34.
In support of this overarching aim, the following objectives were also be used.
he proposed study has three objectives as follows:
o deliver a comprehensive and critical review of the relevant literature concerning the relevant issues.
o administer a custom survey to various luxury hotel managers concerning their current branding strategies to identify commonalities and significant differences.
o provide a synthesis of the secondary and primary research that can be used as a set of best industry practices for promoting brand awareness and customer satisfaction in the hotel industry today.
Statement of Study Problem.
A wide range of factors have been cited in the literature for the growth of branding within the hotel industry, with virtually all authorities agreeing that the basic motive for such initiatives is increased profitability and a sustainable competitive advantage. In this regard, Allen (2007) reports that, "What has recently come…
Today's contemporary hotels, designed to please almost every taste and income level, are as rich in variety as in location, and quite a departure from an era marked by sameness and complacency, when downtown hotels, highway motels and resorts virtually monopolized the lodging industry. One of the first companies to introduce a more sophisticated form of product differentiation to the hotel industry was Quality Inns, largely in response to the blurred consumer image that its vastly diverse properties were promoting. Many other lodging companies have followed suit. The Marriot chain, for example, has shifted from its long-held position at the higher end of the market, by targeting the mid-priced market through its Courtyard, Residence Inn, and Fairfield Inn hotels (Standard and Poor 1995). Similarly, Holiday Inn's Express Hotels cater to budget travelers while the Crowne Plaza Hotels are geared towards the upper end of the market. Moreover, the French based ACCOR company offers a variety of distinct accommodation products. ACCOR's Sofitel caters to the needs of the luxury market while Novotel and Ibis are respectively tailored for the mid-scale and economy markets. Product differentiation does not only occur within a hotel company but also within individual hotel properties. For instance, in some of its properties, Sheraton offers executive floors designed with the needs of the business traveler in mind
Although there remains a gap in the relevant literature concerning how brand satisfaction can translate into increased profitability for hotels, there are some broad generalities that can be drawn from the existing body of knowledge that can be extrapolated to the situation at hand. For instance, Hung reports that, "A favourable image can lead to customer loyalty, while unfavourable image may lead to customer switch behaviour, brand image is even more important in service companies, where there is a lack of differentiation for customer to assess" (2008, p. 238).
By and large, there are two main ways for hotels to differentiate their brands: (a) price and (b) service. In this regard, Wadsworth reports that, "The hotel industry has two ways to achieve product differentiation through branding. You can either brand service or price. Red Roof Inn and Motel 6 brand price. Marriott, Hyatt, and the Four Seasons brand service" (1999, p. 45). With respect to what a hotel brand communicates to existing and potential customers, Prasad and Dev advise that, "Hotel chains constitute a classic application
P&G Branding Strategy and Advertising
ecently installed Proctor & Gamble (P&G) CEO Bob McDonald spoke to shareholders recently and articulated the vision of the company, "to touch and improve lives" (Leader's Interviews. N.D.). In this context the indefatigable CEO has set out a bold initiative of adding one billion consumers of its products within five years, adding to the existing four billion customers who already are P&G customers (Sewell, D. March 6, 2010). Accomplishing this goal however, requires a carefully crafted mix of marketing strategy which allows for reaching a differential of customers across demographic variances including: socioeconomic, age, technological awareness, and geography. McDonald, points to the "hundreds of millions of people who have yet to buy their first bottle of Tide, their first Pampers diaper or a Gillette shaver" (Sewell, D. March 6, 2010). In implementing this global strategy of reaching existing and new consumers, P&G utilizes a diverse…
Leaders Magazine (October 2010). Leaders Interviews. The Power of Purpose: An
Interview with Bob McDonald. Leaders Magazine. Retrieved December 29, 2010 from http://www.leadersmag.com/issues/2010.4_Oct/ROB/LEADERS-Bob-McDonald-Procter-Gamble.html
NetMBA. (N.D.). Brand Equity. Retrieved December 29, 2010 from
Such a program would not only boost consumer confidence: if drivers did not have any problems after the repairs, this would also repair the public's trust in the Toyota brand.
Concern 2: Mistrust of flagship electric car model the Prius
Perhaps even more damaging have been the problems with Toyota's flagship electric car model, the Prius. The Prius has also been accused of unstoppable, unintended acceleration. Toyota had become synonymous with eco-friendly cars. Damaging the reputation for the safety of electric cars not only hurts Toyota's short-term profits; it also impacts the likelihood of consumers to buy electric cars in general. This shift would be particularly damaging to Toyota, given it has invested so much of its brand image and research and development capital in the success of the Prius.
As well as improving the safety features on new models and repairing old models, Toyota must undertake a…
Bunkley, Nick. (2010, April 9). Regulators may pursue more fines against Toyota. The New
York Times. Retrieved April 10, 2010
Healey, James. (2010, January 28). Toyota expands floor mat recall; supplier redesigns pedal.
Hostess Brands, Inc. is one of the largest wholesale bakers in the United States that operates nearly three dozen bakeries and more than 570 bakery outlet stores. This company delivers baked goods to mass marketers, American supermarkets, and convenience stores through 5,500 delivery routes. Since its inception, Hostess Brand, Inc. has developed to an extent that a hostess would demonstrate her home pride through serving breads and sweet products that are manufactured by Hostess Brands. Nature's Pride, Wonder, and Merita are some of the major bread brands manufactured and delivered by the firm. Moreover, Hostess Brands, Inc. also sells snack cakes such as Ding Dongs, Ho Ho's and Twinkies and other sweet-baked products. Despite of its success in the market, Hostess Brands, which is owned by ipplewood Holdings, an investment bank, filed for Chapter 11 bankruptcy protection in 2012 and aims to liquidate.
Hostess Brands, Inc. was established…
Curtis, J.M. (2012, November 22). Union Busting Kills Hostess Brands, Inc. Retrieved
December 3, 2012, from http://www.examiner.com/article/union-busting-kills-hostess-brands-inc
"Hostess in Current Condition Because of Failed Management." (2012, November 15). The
Bakery, Confectionery, Tobacco Workers and Grain Millers International Union. Retrieved December 3, 2012, from http://www.bctgm.org/2012/11/hostess-in-current-condition-because-of-failed-management/
Pacific Brands Limited
The Burst Bubble
Background Information and Industry Overview
Effects of the Global Recession
Balance Sheet Movements
In a perfect marketplace, such as the one championed by the proponents of the efficient market hypothesis, assets would be automatically priced correctly by the magic of the market place. However, in the real world, corporate assets often are overvalued or undervalued based on speculative pressure or possibly asymmetric information. The global recession caused havoc with its extensive intrusiveness into a plethora of unrelated industries. The common denominator that plagued seemingly unrelated industries is that consumer confidence fell through the floor.
Pacific Brands Limited was by not immune by any measure to the pressures placed upon them by the faltering market. In fact, it was quite the opposite. Since Pacific Brands claimed a holding that included an enormous amount of value in regards to its intangible assets it was more exposed…
Aegis Equities Research Pty Limited. "InvestSMART." Pacific Brands Limited (PBG). May 11, 2011. http://www.investsmart.com.au/shares/asx/Pacific-Brands-PBG.asp (accessed May 15, 2011).
Bloomberg. "Bloomberg." Snapshot - Pacific Brands Ltd. (PBG). May 14, 2011. http://www.bloomberg.com/apps/quote?ticker=PBG:AU#chart (accessed May 14, 2011).
Interbrands. "Pacific Brands." Interbrand. May 15, 2011. http://www.interbrand.com/en/our-work/Pacific-Brands.aspx (accessed May 15, 2011).
Martin, P. "Sack the CEO. And restart manufacturing." Peter Martin. March 2, 2009. http://www.petermartin.com.au/2009/03/sack-ceo-and-restart-manufacturing.html (accessed May 15, 2011).
The abbreviated approval process authorized by Hatch-Waxman lets generic drug manufacturers use the same clinical data that the original manufacturer used to obtain FDA approval, thereby avoiding these expenses. In this regard, Greene emphasizes that, "Whereas the pioneer drug manufacturer must incur great expense and undergo rigorous scrutiny when it files an new drug application (NDA) to secure FDA approval, a generic manufacturer may file an Abbreviated New Drug Application (ANDA) in which it may take advantage of the NDA holder's time and expense" (2005, p. 310).
The impact of the Hatch-Waxman Act on generic drug availability has been enormous. For instance, in 1984, generic drug prescriptions represented less than 20% of all prescription drugs marketed in the United States; however, due in large part to the Hatch-Waxman Act, by 1996, the market share for generic drugs had increased to 43% and by 2006, as many as 63% of…
Abramson, R.G., Harrington, C.A., Missmar, R., Li, S.P. & Mendelson, D.N. (2004). Generic
drug cost containment in Medicaid: Lessons from five state MAC programs. Health Care
Financing Review, 25(3), 25-26.
Buehler, G. (2002, September-October). Generic drugs: What you need to know. FDA
S. It is at a stage where it would be considered a cash cow. Yum is feeling out international expansion opportunities for Taco Bell, but there is little possibility that Taco Bell will supplant KFC and Pizza Hut as the key driver of economic growth. Those two firms have stronger product offerings for international markets. The role that Taco Bell plays, providing cash that can fuel global expansion of other brands, is the ideal role for the company within the context of Yum Brands.
There are a couple of companies that could make a good fit for Yum. They are Starbucks and Dunkin Donuts. These firms operate in complementary segments to Yum's existing portfolio and have core product offerings that can be taken overseas, thus the industry is attractive. The stock price for the former is particularly depressed in light of their recent struggles although the latter is perhaps a…
MacNealy, Jeremy. (2007). Fool on Call: Yum! Brands Wall of China. Motley Fool. Retrieved May 8, 2009 from http://www.fool.com/investing/general/2007/10/11/fool-on-call-yum-brands-wall-of-china.aspx
CNBC Video Report. (2008). CNBC Special Report on China Features Yum! Brands. CNBC. Retrieved May 8, 2009 from http://www.yum.com/news/pressreleases/081908.asp
Yum.com website: Multiple pages. (2009). Retrieved May 8, 2009 from www.yum.com
Taco Bell website: Multiple pages. (2009). Retrieved May 8, 2009 from http://www.tacobell.com/
Aspects such as weight reduction, disease reduction, and overall peak performance will be emphasized (Jeffery, 2006). Sponsoring many of Australia's more popular sporting events with the products would also be very beneficial. Placement of these products will occur within all of the Yum! Brands locations. As mentioned above, two strengths of the company are its global positioning in regards to its brand, and its overall depth of franchises (McGinley, 2004). With more locations than any of its competitors in emerging markets, the company has a distinct competitive advantage relative to its peers in the industry. By effectively utilizing this franchise to unveil its healthier product segment, Yum! Brands can capitalize on its location density. The locations are also very useful in regards to cross selling many of the newer health option that customers may not be aware off. By placing the new products in all of its location simultaneously the…
1) Barrett, Patrick (January 22, 1997). "KFC." Marketing Magazine
2) Chapman, Michelle (28 February 2011). "Taco Bell to fight meat filling claims via TV ads." The Daily Breeze. Associated Press
3) Cyrek, Christopher (October 20, 2009). "Pizza Hut going after wings market." Dallas Business Journal (Dallas, Texas: American City Business Journals, Inc.).
4) Ghanawi, Nadine (December 31, 2012). The Internationalization of KFC. GRIN Verlag. p. 1. ISBN 978-3-656-34256-4
Many companies in this industry are no longer trying to expand the number of restaurant, but rather focus on other growth strategies, such as international expansion or product innovation. The last strategy is very suitable for the home market. The eating habit trends point to a change in the average American towards a healthier lifestyle. Yum! has a weakness point in this area as its products are not perceived as healthy. McDonalds has developed a number of products for the customers interested in a healthier died, such as salads. Other competitors, such as Wendy managed to prepare the same products with less 10 grams of fat in it. The healthy lifestyle trend opened the way to more competitors which sell quick-service healthy products, such as: Panera Bread, Subway and Quizno's.
The consumer habits change from one generation to another. The trend in the last generations is not only towards healthier…
Clarke, P., Hedden, S. & Olson, C. 2006. Yum! Brands - Consumer Discretionary. Krause Research Fund, vol. Fall (November).
NY Times by Tracie Rozhon. 2007. Just to Add to the Pressure, the Name Is Yum. Published October 6th, http://www.nytimes.com/2007/10/06/
The company's sales have registered a 5% to 10% YoY growth.
The growth is mainly generated by the success in emerging markets, such as China.
Supply Analysis of Lululemon
Porter's Five Forces Analysis of Lululemon
PESTLE Analysis of Lululemo
Analysis of Marketing Strategy of Lululemon
Analysis of Company Management
Lululemon Athletica Inc. which was founded in 1998 in the city of Vancouver by Chip Wilson is a specialist in the design and production of high-end technical clothing for athletes and yoga clothing.
While operating primarily in the continents of North America and Australia, the company initially targeted the educated woman who strives to live an active and a healthy life as their primary customers. The first store of the company was opened up in November of 2000 and it was aimed by the company to also function as a social and community hub allowing people to come together and learn and discuss issues related to physical aspects as well as the mental aspects for…
Blais, Steven. Business Analysis. Hoboken, N.J.: Wiley, 2012. Print.
Cadle, James et al. Business Analysis. Swindon: BCS Learning & Development Limited, 2014. Print.
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Hotel Use of IMC
Starwood Hotels and esorts
Starwood Hotels and esorts Worldwide, Inc. is one of the world's largest luxurious hotel chains. It is an American multinational corporation that owns, operates, manages, and franchises luxury hotels, resorts, residences, vacation ownership properties, and spas. It has more than 1100 hotels, resorts, and properties in almost 100 countries across the Globe. Its internationally recognized hotel brands include Sheraton, St. egis, Le Meridien, W Hotels, Four Points by Sheraton, The Luxury Collection, Element, Aloft, and Westin. Starwood Hotels and esorts Worldwide, Inc. manages 48% of its hotels and resorts while 46% have been franchised to private investors from all over the world. It only owns 6% of its total hotels, resorts, spas, and vacation ownership properties. It has currently employed nearly 171,000 people -- more than a quarter is employed in the United States (Starwood Hotels and esorts Worldwide, Inc., 2013).
Brassington, F. & Pettitt, S. (2006). Principles of Marketing, 4th Edition. Harlow: Prentice-Hall.
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Brand equity of trusted advisor for CM application delivery.
Source: Framework based on the concepts presented in (Yoo, Donthu, Lee, 2000)
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Aaker, D.A. (2012). Win the brand relevance battle and then build competitor barriers. California Management Review, 54(2), 43-57.
Aremu, M.A., & Bamiduro, J.A. (2012). Marketing mix practice as a determinant of entrepreneurial business performance. International Journal of Business and Management, 7(1), 205-213.
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Hertz LBO Case
How does the dual-track process used by Ford to initiate consideration of strategic alternatives affect the bidding process for Hertz?
The dual-track process has created a rather interesting environment for potential investors. Not only are investors competing with each other, but if the case that a deal is not worked out then Ford has made provisions for the company to be made public through an initial public offering (IPO). Hertz is a well establish company with global operations. Furthermore, it has a stable revenue history that has had an extraordinary amount of consecutive growth. Plus Hertz has built a great deal of brand equity worldwide; especially in regards to the airport services they provide.
All of this makes works to make Hertz an ideal candidate for a leveraged buyout. The interesting aspect to this case is how the dual-track process was structured. Ford must have known…
With this in mind communications strategy has to be developed and implemented. The central debate remains that of degree of uniformity. The pros and cons are obvious, i.e. economies of scale, consistent message across markets, centralized control, different market characteristics, media availability and costs and government regulations (alabanis & Diamantopoulos, 2011). The stronger argument appears to be that different strategy appears to work in different situations, rather than a totally standardized campaign. Once these geographical issues are decided upon then the scope of the campaign, objectives and elements of strategy can be worked on. If the organization develops a message for one market and then transposes this intact into others or if it develops a message with a number of markets in mind from the start, it may be centrally conceived in both cases (Han, 2009; Wills & Ryans, 1977).
This is popular because of co-ordination and control providing the…
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Bailey, W. And S.A. Gutierrez de Pineres. 2007. 'Country of Origin Attitudes in Mexico: The Malinchismo Effect.' Journal of International Consumer Marketing 9 (3): 25-41.
2.1 Employee perception of CSR
As Du Preez and Bendixen (2015) note, a consumer’s initial exposure to a company’s brand typically comes from the employees who stand on the front lines of the company’s workplace. These employees represent the face of the business and thus embody the business’s brand. They are the brand’s diplomats in a sense, and if the consumer is put off by the employees, the brand suffers. In order for employees to represent their organization’s brand with confidence and enthusiasm, they must be able to believe in the brand, embrace the organization’s CSR policies, and promote the spirit of these policies in their engagement with consumers on the front lines. The employees represent the values of the company and feel (if they are happily employed) that the company represents their own values as well.
Thus the employee is attracted to the business for the same reasons as…
anyan Tree Case Study
While it was not until the 19th century that the term "brand" had the connotation of meaning a commercial trademark, the idea of individual styles and types of merchandise have been around at least since the written record. For instance, there are ancient documents commenting on a certain type of wine, jewelry, dye, or clothing as far back as Egypt and abylon. However, using the term to mark a specific type or image in the minds of consumers did not really become popular until the mid-20th century (Wheeler 2006).
randing, then, is really information -- it is the sum of all the information about a product, service, or organization that is used to communicate a certain image or relationship to the consumer. It uses logos, visual clues, verbal messages, and is far more than a name: Coca-Cola is a brand because of the connotation of the…
Almquist, E & Roberts, K 2009, Rethinking Brand Strategy, viewed March 2012, http://www.lippincottmercer.com/pdfs/a_almquist01.pdf.
Drucker, P 2001, Harvard Business Review on Decision Making, Harvard University Press, Boston.
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Insead - Knowledge 2011, Banyan Tree: The Brand Imperative, viewed March 2012, http://knowledge.insead.edu/banyantree.cfm .
Yet, they do not know exactly what it is that they want. A database would be extremely helpful at this stage as it could offer information on the type of products and services the customers need and the new market could as such be created. A relevant example of an emergent market is constituted by the it products and services within most developing countries. The second evolutionary stage occurs as the products and services introduced in the emergence stage begin to register high levels of sales. At this level, more producers are interested in promoting their own products within the growing market and the future expectations related to it are generally positive. The growth stage of the market is also supported by customers, who realize the benefits of the given product, but also by companies which develop and implement strong marketing campaigns.
The third evolutionary level is maturity, a situation…
Grashaw, K., 2009, Recognizing the Eight Demand States in a Market, Kurt Grashaw Marketing Communications, http://www.grashaw.com/articles/EightDemandStates_060809.html last accessed on October 16, 2009
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Perner, L., 2009, Service Outputs, University of Southern California, http://www.consumerpsychologist.com/dist_Service_Outputs.html last accessed on October 16, 2009
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iPod (Apple's MP3 player) relates to Maslow's hierarchy of human needs.
Abraham Maslow created his theory of a hierarchy of human needs in the late 1960's and early 1970's. The psychologist wrote that human beings are primarily motivated by unsatisfied needs. Certain lower needs must be satisfied before higher needs are satisfied. (Maslow, 1970) Advertising new products often depends upon generating a sense of need, and promising that the new product can fulfill this need.
Take for example the Apple's new MP3 player, the iPod. True, on a Maslow-like physiological level, the first level of need, one cannot eat an iPod, and a less mechanical form of 'apple' is necessary for sustenance, iPods do satisfy the consumer's immediate physical needs for lighter equipment. iPods are portable and more amenable to working out, and for musical use on crowded subway, and the crush and strain of modern urban life. The iPod…
Mahr, Jackson. (2004) "HP & iPod." Branding.com. Retrieved 24 Mar 2005 at http://www.brandchannel.com/features_profile.asp?pr_id=205
Nixon, Paul. (2005) "Apple's Tipping Point: Macs for Masses." Retrieved 24 Mar 2005 at http://www.nixlog.com/archives/2005/01/12_apples_tipping_point_macs_for_the_masses_infographic.php
Illustrate the differences between a straight rebuy, modified rebuy, and a new task purchase. Why is it important to understand the differences?
A straight rebuy is the purchase of standard parts, maintenance, or repair, and operating supplies, or any recurring need purchased on a routine basis (Kotler, 2006). For example, the routine purchase of printing paper is a straight rebuy. A modified rebuy is a situation in which purchasers have experience to draw on, and consider alternatives to previous purchasing (Kotler, 2006). For example, if a company recently purchased a new printer from vendor A, but was not satisfied, they may decide to purchase from vendor B. In the same situation next time. A new task purchase is a situation in which purchasing does not have previous experience with a requirement, and thus, has no relevant knowledge of product solutions (Kotler, 2006). For example, if a company requires the purchase…
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Based on the attributes of luxury brand, the luxury brand requires special marketing strategy to achieve brand objectives. The strategy assists in developing global brand reputation as well as forming brand awareness within the global competitive environment. (Moore and Birtwistle 2005).
In the contemporary marketing environment, experiential marketing has become a cornerstone of marketing, and retailing for luxury brand. Experiential marketing is the technique of viewing consumer as an emotional and rational being who aims to achieve pleasurable experiences. (Atwal et al. 2008). Typically, experiential marketing offers customer memorable experiences in order to achieve customer satisfaction and competitive market advantages. The experiential marketing uses different tools to create the memorable experiences for customers. For example, experiential marketing organizes entertainment for customers in order to educate them, allow them to escape the reality, as well as giving them aesthetic objects or places to see. Experiential marketers use different tools to create…
Atkin, D. (2004). The Culting of Brands: When Customers Become True Believers. New York: Portfolio.
Atwal, G. & Williams, a. (2008). Luxury brand marketing -- the experience is everything! Brand Management .16 (5/6):338 -- 346.
Belch, G.E. & Belch, M.A. (2003). Advertising and Promotion, an Integrated Marketing Communication Perspective (Sixth Edition). The McGraw-Hill Companies.
Bruce, M . And Kratz, C .(2007). Competitive Marketing Strategies in Luxury Fashion Companies. in: T. Hines and M. Bruce (eds.) Fashion Marketing: Contemporary Issues, 2nd edn., New York: Elsevier / Butterworth-Heinemann.
Kudler Fine Foods
Kudler Fine Foods has made significant progress within a few short years. The small business was able to open two new locations to expand their gourmet food retail outlets. ith the expansion of a catering division in the horizon as well, it has come time for Kudler Fine Foods to reevaluate their marketing strategies. The company will use the 4P method as the basis for their marketing foundation -- product, place, price, and promotion. Using a well thought out marketing strategy is a key component to support the company's desired expansions. Kudler must conduct research to ensure that they are differentiated enough to find their own niche while also positioning themselves at the right place in the market. This analysis will cover some of the items that should be included in Kudler's strategic marketing plan. Recommendations will be made as to how Kudler's can craft…
Edwards, H. (2011). The Sensitive Art of Pricing. Marketing, 19.
Mohammed, R. (2010). Building a New Pricing Strategy. Minority Business Entrepreneur, 34, 36, 38.
Tehrani, N. (2009). On Differentiation and Positioning. Customer [email protected] Solutions, 1.
Describe eGO's design process. How is it similar to the process detailed in the chapter?
The eGO design process is comparable to the concepts in the book in that it strives to create innovative solutions to long-established and well-known problems. The costs of transportation continue to escalate, and eGO concentrates on creating a solution for the challenge of short-range transactions with their products.
Visit eGO's website to learn more about products the company offers. What stage of the product life cycle is the eGO vehicle experiencing? What do you learn from eGo's product development experience?
A eGO is in the new product introduction phase of not only their product but also an emerging industry of motorized and eco-friendly low-end cycles. The launch of the eGO series of cycles globally is actually a pivotal point in the industry of low-end cycles, with the launch covering several continents. In terms of lessons…
While the "quality and the craftsmanship [of Tiffany & Co.'s products] must stand the test of time," the conscience of a socially responsible attitude towards its products becomes an even more important element in order to make the customers appreciate the true value of its offer.
The added value of an "industry leader" approach concerning the social responsibility issues involved by the industry is also a desired course of action, as it brings positive effects on the environment and the fulfillment of ethical promises by the company, its ambassadorship within the industry brings even greater environmental benefits, through a stronger alliance to lobby and fight for the environment.
From a business point-of-view, it brings Tiffany's a differentiation point, giving it a competitive advantage in front of its competitors, something that just working with price, placement, promotion and products (marketing mix elements) can not entirely achieve.
This brings us to the…
Business dictionary, Ethical Issue definition, retrieved online November 6, 2009 at http://www.businessdictionary.com/definition/ethical-issue.html
Business dictionary, Fiduciary Duty definition, retrieved online November 6, 2009 at http://www.businessdictionary.com/definition/fiduciary-duty.html
Gagnon, Geoffrey, Moving Mountains, Legal Affairs, Sept-Oct 2004, retrieved online November 6, 2009 at http://www.legalaffairs.org/issues/September-October-2004/story_gagnon_sepoct04.msp
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"The second step is to develop a touch-point chain and gauge those with the greatest impact. The third step is to turn findings into project priorities. The final step is to implement and monitor." (Atwal and Williams, 2009 P. 343).
Uche (2009) provides different argument by pointing out that internet experience create compelling, enjoyable, memorable, and positive experience for online shoppers. The author develops web experience model to demonstrate the strategy the virtual environment could provide experience for online customer. Typically, the 7C model was developed to create a high impact digital experiential customer experience. This includes customisation, content, customer care, community, communication, convenience and connectivity.
On the other hand, Snakers & Zajdman (2010) argue that there is a proliferation of fashion jewelry within the present marketing environment making consumer to face challenges in distinguishing between products. Thus, finding the best method to differentiate one product from the other has…
Abrams Research (2011).Social Media Guide for Luxury Brands. Digital & Social Media Agency.
Acuna, B.P. (2010). The Power of Social Media Image. Journal of Alternative Perspectives in the Social Sciences. 2 (1): 298-308.
Achouri, a. And Bouslama, N. (2010).The Effect of the Congruence between Brand Personality and Self-Image on Consumer's Satisfaction and Loyalty: A Conceptual Framework. IBIMA Business Review.
Atwal, G. (2009). Luxury brand marketing -- the experience is everything! Journal of Brand Management. 16: 338-346.
International Marketing Perspective
What are the main factors that have contributed to Banyan Tree's success?
Banyan Tree's first success was finding a niche that the owners could exploit. As the case study says, they realized that there was an opening that they could use to gather guests who were above the level of the large hotel chains, but who did not want to spend the money required to spend a night in the most exclusive resorts. This price difference led to the owners forming the plan for their resort that was more reasonably priced than the large luxury resorts, but would give the customer more than the large hotel chains.
The next thing that they did was to realize what type of experience people were missing. First, people wanted a vacation experience that allowed them to be alone, like they had the space all to themselves, while they were positioned…
Buchanan, R. (2011). Social responsibility and its effects on consumers. Retrieved March 14, 2012 from http://www.ehow.com/info_8207072_social-responsibility- its-effects-consumers.html
Lovelock, C.H., Writz, J., & Chew, P., 2008. Essentials of service marketing. New York: Prentice Hall PTR.
Marketing Minds, (2012). Apple's branding strategy. Retrieved March 12, 2012 from http://www.marketingminds.com.au/branding/apple_branding_strategy.html
Roy, B., 2009. Importance of word of mouth marketing. Retrieved March 11, 2012 from http://www.ehow.com/facts_5796882_importance-word-mouth-marketing.html
Evaluating the Effectiveness of an IMC Strategy
Given the complexities of IMC strategies and programs and their highly integrative nature, the metrics and key performance indicators (KPIs) used for evaluating them often align to every stage of the selling cycle. As the sales cycles for consumer products are often significantly faster and more focused on transaction speed than on long-term selling relationships, the metrics and KPIs of IMC strategies in these markets tend to focus on trial and repeat purchasing in addition to brand awareness (Caemmerer, 2009). In Business-to-Business (B2B) selling scenarios, the IMC strategies often have short, intermediate and long-term objectives that seek to attain a very high level of trust with potential and future prospects (Kliatchko, 2005). The truest measure of an effective IMC strategy in B2B markets is the company becoming a trusted advisor to potential and present customers (Caemmerer, 2009). Measuring the performance of IMC strategies…
The 2012 Digital All-Stars. (2012). Broadcasting & Cable, 142(33), 8-10,12,14-16,18.
Caemmerer, B. (2009). The planning and implementation of integrated marketing communications. Marketing Intelligence & Planning, 27(4), 524-538.
Gonring, M.P. (1994). Putting integrated marketing communications to work today. Public Relations Quarterly, 39(3), 45-45.
Hongcharu, B., & Eiamkanchanalai, S. (2009). A comparative study of traditional mass media, the internet and mobile phones for integrated marketing communications. Journal of Business & Economics Research, 7(12), 31-40.
Based on this situation of the Crush brand, the recommendation for the future strategy in the orange segment is that of investing more in the products and in their marketing in order to attract more customers. Still, this course of action would be expected to generate only a slight increase in sales, and this is due to the fact that the soft beverage market is already mature and consolidated, and major shifts are improbable.
Still, the orange sector represents a stable one, which would bring sustainable revenues. In a more specific formulation, Cadbury Beverages should recognize its orange segment as one retailing cash cow products. These products are able to generate suitable revenues, for investments which only maintain, rather then reinvent the product line. The profits generated from this segment are as such secure and the costs are lower, indicating as such, that even if the market for them does…
Kerin, R.A., 1995, Cadbury Beverages, Inc., Crush Brand
Integrated marketing communications programs (IMC) use sales promotions as a major factor in their programs today. Marketers have realized that effective marketing is a combination of promotion and advertising. For effective communications programs, marketers have realized they have to rely on promotional sales, direct marketing, personal sales, convectional advertising campaigns and public relations. Sales promotions along with marketing make advertising more effective and, and the effectiveness can be increased by communication to increase awareness. IMC is a communication strategic tool, and it combines promotional mix to deliver maximum communication influence that target the audience. IMC can have the greatest persuasive effect because customers are in contact with brands. Different communicating tools are combined bringing a synergetic effect in resulting communication.
Since the inception of IMC, there have been many changes due to the changing relationship between marketers and consumers. There have also been shifts because of technology and direct communication…
Kitchen, P.J. And Schultz, D.E. (2009). New Horizon/False dawn for a marketplace in turmoil? Journal of Marketing Communications.
Lisa, S.T. (2011). Inhibition of Brand Integration. Journal of Marketing Communications.
Studies, A.O. (2012). Impact of Iintergrated Marketing Communication on Consumers. International Journal for Marketing Studies.
Timothy, N.S. (2008). Three-stage Model of Integrated Marketing. Journal of Marketing Communications.
One of the most difficult paradigms in research is defining what exactly constitutes the idea of "theory." There are many different authors with many different views on this.
Harlow (2009) articulates the problem associated with defining "theory" is that there is no fixed, universal meaning for this concept. One of the guides towards identifying the components that constitute a theory could be the specific research direction at issue. In the natural science, for example, "theory" could refer to the law or system of laws. In a social sciences discipline, "theory" might suggest a construct or set to order and understand the phenomena under study.
While it is difficult to explain or define the concept of theory, Harlow also points towards the importance of understanding the concept of "theory" in terms of research, since it forms the central concept around which the research is conducted. Hence, understanding what is meant…
Best, H. (2013). Theories of Social Changes by Raymond Boudon.
Committee on Science, Engineering, and Public Policy (2009). On Being a Scientist: A
Guide to Responsible Conduct in Research. Washington D.C.: National
Aspara, J. (2009). Stock ownership as a motivation of brand-loyal and brand-supportive behaviors. Journal of Consumer Marketing. 26(6). Pp. 427-436. Retrieved from: http://www.yconomie.com/aspara/articles/aspara-2009_stock_ownership_brand_loyal_behaviors.pdf
In this work, Aspara investigates the psychological motivations underlying stock ownership and its influence on brand loyalty as well as finding empirical evidence to support the explication of these motivations. The author points out that, although consumption and investment psychologies, respectively, have been seen as separate realms, the study reveals that they can have a significant mutual influence. Indeed, the author has found that many individuals who become stockowners in a company also experience a positive and increased motivation towards brand loyalty for that company. Positive word-of-mouth has also been found among individuals becoming stock owners in a company.
What this means for the study to be conducted on brand loyalty among the youth in the United States and Kenya may not be considered in terms of…