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Developing Marketing Strategies
Developing marketing strategies and plan
Developing marketing strategies and plan
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Branding your startup on a shoestring budget There are large companies that spend a fortune on creating a brand, then there are small companies that have come up with really simple concepts, but have stuck in our minds all the same. A really strong brand can help define your business and allow your customers to identify with you, and make you stand apart from your competitors in the process. Take for instance coca cola, I’m pretty sure everyone of us knows that aerated drinks are bad for us, yet a whopping majority of us continue to drink it. They buy out other companies replace them and experiment with different kinds of advertising till they strike the right chord with the audience. Quite tenacious I think. But it works like a charm! You don’t have to have the budget that Coca cola has, but if you’re ingenious enough, you can come up with an amazing campaign without busting a hole in your pocket. If you’ve just started your own business and have little or no clue how to start the branding process, read on for a few tips. • Understand your audience The basic thing to start off with ...
In every given business, the name itself portrays different meanings. This serves as the reference point and sometimes the basis of customers on what to expect within the company. Since personality affects product image (Langmeyer & Shank, 1994), the presence of brand helps in the realization of this concept. Traditionally, brand is a symbolic manifestation of all the information connected with a company, product, or service (Nilson, 2003; Olin, 2003). A brand is typically composed of a name, logo, and other visual elements such as images, colors, and icons (Gillooley & Varley, 2001; Laforet & Saunders, 1994)). It is believed that a brand puts an impression to the consumer on what to expect to the product or service being offered (Mere, 1995). In other application, brand may be referred as trademark, which is legally appropriate term. The brand is the most powerful weapon in the market (LePla & Parker, 1999). Brands possess personality in which people associate their experience. Oftentimes, they are related to the core values the company executes.
Catchy jingles are what persuades consumers to buy more and more products that they hear about every day. This concept has been around for years and the Coca-Cola Company is no stranger to it. Back in July of 1971, Coca-Cola released the commercial, “I’d like to Buy the World a Coke” that sent their customers into chaos with over 100,000 letters being sent to the company asking for more. This leaves many people asking: how did this one commercial have such an impact on the audience? And what did Coca-Cola use that drew so many people in? Here we will discover the method behind what is “I’d like to buy the World a Coke.”
The term “personal branding” has over the recent past been associated with Tom Peters, a renowned management guru. A brand can be described as the comprehensive, consistent value that a person receives from using a product or service. It conveys a whole set of expectations which can be either negative or positive. A brand is also described simply as a bundle of benefits, attributable to a product or service. Is branding limited to goods and services?
Brand strength gives companies like Apple great visibility in the marketplace and helps build consumer loyalty. The company’s strong branding encourages customers who buy one Apple product to try another.
[a] company may have a unique vision, a superior product, strong management and an efficient distribution system – yet if it is not able to convey the core benefits of the brand to its target audience it will ultimately fail. [5]
Branding is the most important part of any business, large or small. An effective brand strategy gives a major edge in a competitive market. When a business puts a brand out their putting out a promise to their customers. They want the people to know that their brand is right for them and it differentiates from the competitors.
The word “Brand” owes its origin to the Norwegian word “brand” which means to burn. Farmers used to put some identification mark on the body of the livestock to distinguish their possession. Products are what companies make, but customers buy brands. Therefore marketers resorted to branding in order to distinguish their offerings from similar products and services provided by their competitors. Additionally, it carries an inherent assurance to the customers that the quality of a purchase will be similar to earlier purchases of the same brand.
However, a company must have good brand management to achieve the longevity of the company brand. It is because good brand management can lead the company to become a strong brand and it will improve the customer relationship through the brand management process which control everything about the brand does and says also (Temporal, 2010). Therefore, brand management plays an important role which will influence the longevity of the company and the brand name.
The review of relevant literature is to identify what's brand awareness and how to carry out in strategic marketing, and consumers' behavior. The study prove that the significant factors on brand awareness as a perception of product, service, and image of the company and has a tremendous effect on consumers’ evaluation of system results. From reading all of the relevant journals, it is understandable that the significant factors on building a successful brand image and awareness is consumers and their relationship with the brand, company, service and the product. Brand awareness is the vital importance to marketing strategy and marketing communications because it links customer behavior to firms’ financial metric. Keller (2001), noted, customers’ reaction toward brand awareness is associated profitably brand equity.
A company’s brand is one of its most valuable assets (Green and Smith 2002). Brands owners invest millions of dollars every year in advertising and promotion to raise awareness and create demand for their brands.
Branding is also a way to build an important company asset, which is a good reputation. Whether a company has no reputation, or a less than stellar reputation, branding can help change that. Branding can build an expectation about the company services or products, and can encourage the company to maintain that expectation, or exceed them, bringing better products and services to the market place.
When somebody hears the word brand they usually think of some popular, famous company’s name, its logo, its trade mark or the products that are produced by that certain company. Initial thought leads to identification favorite brands of an individual. Behind favorite brands there are not just hidden products and company, but also different human emotions. Products and goods, for a long time now, do not only fulfill
I do feel that brands are created by procedures and bear their chosen brand name. Therefore, the responsibility for marketing lies within a product. Like most of the company their brands are supported by advertising budget along with managing the distributors so that it reaches finally to the customer. When it comes to a product, it is always advanced and innovative features that comes in front than their competitors in the same category.
Branding should be evident in every aspect of your business, from the way customer representatives answer the phone to the e-mail signature. It also has to extend to what you or what salespeople wear when they go on sales calls. Awareness and recognition are best established when clients are constantly fed with information and details about your brand. The next time they see your brand’s logo, hear the slogan or jingle or just the name being mentioned, they will instantly connect it to you.
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.