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Growing and sustaining brand equity
Growing and sustaining brand equity
Sustaining brand equity
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Brands have always been seen as elements that act as identifiers of products and the organizations that make them by various bodies and individuals in the marketing study (Kotler 200, p. 396, American Marketing Association, Wood, 2000). From this view, it can be extrapolated that as long as someone can make his product identifiable via some added visible indicators, he has made a brand. It is by this idea that Keller (2003) writes, “technically speaking, then, whenever a marketer creates a new name, logo, or symbol for a new product, he or she has created a brand” (p.3). This has been the idea for a long time as brands were treated in an off-hand fashion as part of the product (Urde, 1999). However, since brands are the first thing a customer is exposed to before using the product, communication strategies started working toward exposing brands and creating brand image. These strategies aimed to show the customer that the particular branded product offered added value to the customer. The change in the view of brands is seen in de Chernatony and McDonald’s (2003) definition of a succ...
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.
Aside from using Retro and Heritage to describe an artefact the term Vintage, is also used commonly in a commercial design context; as mentioned previously in a design context we define Vintage as an item that has remained unchanged since its original production and is still in use today. A prime example Vintage in use in design is shops such as Beyond Retro, a chain of nine stores and an online e store, who stock clothing from well known brands produced in this time period that would otherwise have been discarded, the garments have simply been cleaned and sold on with no modifications making them a vintage item (Beyond Retro, 2015). Oxfam is a more well known example of selling vintage clothing with a new specialised vintage section online
Disney was founded in October 16th 1923, by the brothers Walt and Roy Disney who were recognised as the Disney Brothers Cartoon Studio and have recognised themselves as a leader in the American industry before changing into live-action film production, television and travel. Today we see Walt Disney Company with an assortment of brands related to different forms of entertainment, within these brands there is the main character a mouse better known to the public as Mickey Mouse. Through the years Walt Disney struggled for success with a number of unpopular characters but his fluke changed course with the introduction of Mickey Mouse. A trademark on Mickey mouse was quickly done so to protect the brand. Mickey was described in his creations as a friendly carefree approach that caught the hearts of people of all ages.
Apple Inc. uses the Apple brand to compete across several highly competitive markets, including the personal computer industry with its Macintosh line of computers and related software, the consumer electronics industry with products such as the iPod, digital music distribution through its iTunes Music Store, the smart phone market with the Apple iPhone, magazine, book, games and applications publishing via the AppsStore for iPhone and the iPad tablet computing device, and movie and TV content distribution with Apple TV. For marketers, the company is also establishing a very strong presence to rival Google in the advertising market, via its Apps business and iAd network
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.
A brand audit is a detailed assessment of a brand’s current ranking in the market compared to other competitors. It provides information on how the business is performing in the market. A brand audit also aims at examining the image and reputation of the brand as perceived by customers. The two key elements of brand audit are brand inventory and brand exploratory. Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand. It seeks to conduct a consumer insight research in order to acquire consumers’ feelings and perceptions. This paper looks into the brand exploratory aspect of auditing under the customer-based brand equity (CBBE) model.
A brand audit is a detailed assessment of a brand’s current ranking in the market compared to other competitors. It provides information on how the business is performing in the market. A brand audit also aims at examining the image and reputation of the brand as perceived by customers. The two key elements of brand audit are brand inventory and brand exploratory. Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand. It seeks to conduct a consumer insight research in order to acquire consumers’ feelings and perceptions. This paper looks into the brand exploratory of Cadbury in terms of the customer-based brand equity (CBBE) model.
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.
In order to ensure the success of a brand the company must put lots of planning and thought into the brands elements. The three brands I have chosen to examine in this branding exercise are Apple, Coca-Cola, and Target because they demonstrate many of the criteria used to evaluate brand success.
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.
Secondly, some light has been thrown on the previous researches by various authors on the similar topics by providing with a summarised form of the same. It helps in better understanding of the ongoing concepts and perceptions on the concept of brand and its importance.
The term 'branding' in modern marketing is generally originated in the agricultural practices of the medieval age. The farmers 'branded' their animals with the iron and then they were able to identify to whom a particular animal belonged. Artisans 'branded' their products, for example, expensive silver tableware. Smiths 'branded' their swords. The role of the brand is to identify products by the same way as for medieval farmers and for modern corporations as well.
Product is the core of marketing, which including tangible goods like food or drinks or intangible services, as it is the major way to embody customers requirements; and, branding is directly associated with it. In fact, branding is all about decisio ns of products, like brand names or trademarks. Stork (2007) asserted that a brand is a unique business identity which represents the personality, quality or origin of products. And, such a product which added value by branding would appear in every activity of marketing, namely, branding is actually react on the whole marketing system directly and indirectly.
Branding is very important aspects of any business because it gives identity to company and its products for example every person is different and have unique personalities similarly companies differentiate their products through branding. The brand I have selected to analyses for this assignment is GoCompare.com. I have selected this company because it has always displayed very catchy adverts on television and it will be interesting to analysis the brand using theoretical models. Gocompare.com was first launched back in November 2006 by Hayley Parsons. The main difference from competitors was to display more detailed quotes rather than just prices stacked together. It found big success in very short time and in 2013 it is estimated to worth over 450 million express, 2013.
Early on in the twentieth century, when mass marketing and production became commonplace, company branding allowed consumers to identify with a company. The consumer made a one sided personal relationship