Introduction Nowadays, Asian food plays an essential role in business, because the concept of it is to recreate the tastes of Asia in a casual and relaxed atmosphere and to provide people with tasty and healthy eating at a reasonable price, especially the shop located at Chinatown named ‘Green Noodles’. ‘Green Noodles’ is spreading its tastes of Asia across the country with brand awareness stores in South Australia, Western Australia and Queensland. The campaigns have been focus on positioning our brand as fresh Asian fast food dining and promoting other brand characteristics such as tasty, safe and genuine etc. Some people may think Asian food is tasty and healthy while other people hold the idea of Asian food may contain too much oil which is not good. This report will mainly focus on four parts which are general discuss on why ‘Green Noodles’ is named which relates to the brand management and strategy, the reasons why we start ‘Green Noodles’ as a business in Adelaide, cultural acceptance from local people and how do the business successful. ● Why named ‘Green Noodles’ The first aspect to consider is the definition of brand strategy. The term of brand strategy refers to Long-term marketing support for a brand, based on the definition of the characteristics of the target consumers. It includes understanding of their preferences, and expectations from the brand (Anderson 2002). Learn how to create an effective brand strategy that will help your company shine in a competitive market. Green Noodles brand position Brand positioning is the art of creating a brand that can persuade and realistically demonstrate its relevance to a customer's daily life to become his or her regular ch... ... middle of paper ... ...r own interests. Conclusion In summary, according to the examples which are presented above, we can safety draw the conclusion that accounting requirements play a significant role in a company as it relates to the different parties to the issuance of this standard in particular of the company. Changing the standards can affect the performance of the financial statements and will bring some costs for the company. Meanwhile, the new release of IRFS2 on share options will be argued by the PAT that it will lead the organization and mangers cost more. Although there are some costs, the regulators still need to provide rules on the accounting method because they are good for the firm’s wealth. Accordingly, changes in accounting rules can have essential impacts on the company’s financial statement as well as the performance.
Brand identity is about story telling. Using the latest content that has been published, compromising the five best images that reflect the profile of the brand, a consumer-photo-storyboard can be developed to: Describe the profile of the brand; Identify the main communication and publicity themes; and Critically assess the integrated modes of communication with consumers, including limitations and negative content.
Moving up the pyramid, the next level includes brand meaning – what are you? This incorporates performance and imagery. The product itself is at the heart of brand equity, and designing and delivering a product that satisfies the consumers’ needs and wants is crucial for successful marketing. In order to reach resonance at the top of the pyramid, the product must (at least) meet, if not surpass, customer expectations and functional needs. The goal here is to identify and communicate brand meaning. Performance dimensions consists of five categories: primary characteristics and supplementary features; product reliability, durability and serviceability; service effectiveness, efficiency and empathy; style and design; and
Once the target market has been identified it is important to develop a marketing strategy. In today's fast paced, information overloaded society; conveying a message about a product seems to be more difficult than ever. The consumer is bombarded with advertising everywhere they look. Today advertising not only exists on television, radio, magazines, and newspapers, it can be found on billboards, park benches, in our mailboxes, on buses, taxis, at sporting events, and on clothing.
A brand is utilized by a company to differentiate its products from others in the market. Some techniques for accomplishing this are through the use of distinguishing logos, names, color schemes, and slogans. An effective branding strategy is one of the most important components for gaining a significant advantage in a progressive market. Basically, a company brand is its promise to its customers about what can be expected from its product and how it differentiates from the competitors. The branding strategy is the part of the marketing plan that explains how and to whom the company proposes on conveying its brand messages. It will also explain where the company plans to advertise and what it will publicize both visually and verbally (Williams, 2013). Home Depot’s marketing plan will contain domestic and global branding strategies and will be a collaboration of brand messages from both Home Depot and Reach the Top®.
Marketers assert to develop branding and packaging strategies that signify the brand’s products in a way that establishes lasting impressions in consumers’ thoughts. Because brands distinguish the many product offerings in the marketplace, brands help consumers choose between product offerings. When branding and packaging strategies clearly illustrate worthy product expectations, and products remain true to branding messages, positive consumer perceptions ensue, and brand value is strengthened.
This essay will critically discuss the creation of brand meaning is a central issue for contemporary brand management from multiple perspectives. It will begin by defining what brand meaning is. It will explore the various meanings of brand meaning and how these meanings can be created. It will explain the creation of brand meaning in terms of how and by whom brand meaning is created providing relevant practical examples and making reference to the academic literature. Then, it will analyse why the creation of brand meaning apparently has become such an important issue for managers, consumers and within society in general. Lastly, it will evaluate the implications of my arguments for branding theory and practice, and end with a conclusion.
The globalization of business has resulted in the need for compatible accounting standards that can be used internationally for financial reporting. As a result, the International Financial Reporting Standards (IFRS) were developed by the International Accounting Standards Board (IASB) to unify the various financial reporting methods and create a single accounting standard which can be applied to any financial statement worldwide (Byatt). The global standardization of financial reporting will increase the readability and enhance comparability of globally traded companies’ financial statements, without the need of conversion or translation. There are a few main differences between the International Financial Reporting Standards (IFRS) and the U.S. Generally Accepted Accounting Principles (U.S GAAP). The increasing recognition and acceptance of the International Financial Reporting Standards by accounting professionals in the United States, will affect the way in which the U.S will record financial statements in the future.
Lastly, brand awareness is a crucial consideration. And It may be thought of as a consumers’ ability to find a brand within a group in adequate detail to make a purchase. It is important to remember that adequate detail does not always need identification of the brand name. Often “brand awareness is no more than a visual image of the package that stimulates a response to the brand.” Moreover, recall of the name is not necessarily required because brand awareness in which can try via brand recognition. According to Emma Macdonald and Byron Sharp (2003), suggested, when a brand is recognized at point of purchase, its brand awareness does not need brand recall. This is a major point in the consideration of brand awareness as the most important communication objective. In fact, the difference is misunderstood by marketing and advertising managers. The difficulty is to relate to the essential difference between recognition and recall, that is extremely important to advertising strategy. Brand recognition and brand recall are two separate types of brand awareness. The difference depends upon the communication effect that occurs primarily in the consumers’ memory.
This is based on the fact, that the small market volume does not enable brands a dynamic development of its positioning. At the opposite extreme, there are markets, which are constantly subjected to change in customers’ needs and preferences. The increasing heterogeneity of this kind of markets represents a challenging aspect for a positioning and requires high individualization (cf. Feddersen 2013, p. 54).
This paper argues why both brand identity and packaging are vital to a successful marketing strategy, and that they are more powerful intertwined, than as two separate elements.
Branding is used to refer to a wide body of literature as to how businesses can use their brands to achieve a competitive advantage, through building brand equity, launching brand extensions, managing global brands, and so forth.
It 's no secret that traditional marketing practices have declined and consumers are now more skeptical than ever. Brands have had to find ways of connecting with potential customers in a more authentic way.
A brand identifies a seller’s product from a competitor’s product. There are three main purposes for branding product identification, which is the most important purpose, repeat sales, and new-product sales. Branding has a lot of terms that marketers use there is brand equity, global brand, and brand loyalty. Marketers also have different brand strategies that they use for different products or customers. It all depends on the consumer for them to decide which strategy they will use. The different strategies are generic products, manufacturer’s brands, private brands, individual brands, family brands, and co-branding. The branding purposes and the branding strategy make up the importance of branding.
All humans are exposed to branding and marketing on a daily basis. Commercials, internet ads, t-shirts, television shows. In today’s fast moving society, we’re constantly bombarded by the marketing and branding practices of businesses. As a new business owner, it can be daunting to step from being the observer to a creator of marketing and branding.
Every company seeks to create its own brand - a unique and effective image. Purpose of brand is attracting and retaining customers in its market share. Branding in marketing is a complex technology, aimed at making advantageous position a brand from the competition. Facilitating the search for the necessary goods to the buyer, branding in marketing becomes more effective if the consumer product features meet market requirements. It is especially necessary to identify the goods, for a case of unprepared buyer which can not assess the competitive characteristics (for example, high-tech products). The development of technology has had a huge impact on human society. It is reflected in the fact that we are surrounded by complex technical devices that we use every day and sometimes we have no idea of how this thing is located within. Here the brand comes to help the consumer that stands out from all those product characteristics that are important to the consumer and facilitates the understanding of the product.