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Importance of BRANDING
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1. What is Martha Stewart the brand? What is the brand identity? Do multiple brand identities exist?
Martha Stewart's brand stands for stylish and traditional American living. She is brilliant at channeling the taste and passion of her customers into new products and media. She is said to turn "dreamers into doers". Taking this in to the context of how corporate strategists want the brand to be perceived by internal and external constituents arrives at a brand identity. The core identity or primary associations include such words as "American living", "homemaker", "tasteful", "stylish", "how-to info", and "home". Extended associations include words related to the product offering such as "gardening", "cooking", and "home renovation", as well as words showing conflict in Martha Stewart the person such as "gracious hostess" vs "perfectionist", and "model of femininity" vs "business woman". Other secondary attributes include Martha's slogan "It's a good thing" and the Turkey Hill chicken coop. The core identity, or brand essence, sets the guiding vision for MSLO. As such, these values should not and do not change in relation to consumer segments, brand extensions, or corporate strategy. Nonetheless, the manner in which the brand is promoted, communicated, or advertised to different segments may differ. In fact, the identity can be perceived as being different amongst MSLO's customers. Different brand images may exist amongst customers of the different offerings: home vs cooking vs gardening.
2. Where do these identity elements come fromMartha Stewart the person or Martha Stewart the brand?
The reality is that it is almost impossible to separate Martha Stewart the person from Martha Stewart the brand. The success of MSLO lies in the successful creation of the brand from the person. For example, the strength in Martha Stewart's brand can be found in how the customer takes ownership in the brand. On some note, they "relate" to Martha. Martha has touched their lives and made those lives better. "Ask any of her brand loyalists and they'll tell you that Martha understands their lives, which is why they listen to her, follow her advice and buy her products" (Frankel). Attributes such as "tasteful", "stylish", and "homemaker" are personality traits whereas "cooking" and "gardening" are traits of MSLO. Likewise, as we saw in the case, a comprehensive report of MSLO will undoubtedly include stories about Martha Stewart's personal life. The brand and company succeeds on her celebrity status and vice versa.
Madonna Louise Veronica Ciccone (aka Madonna) is one of the most influential American Icons in the 21st century. She uses her sexuality and feminine characteristics to convey her beliefs to the public. She started a trend among youngster “wannabes” during the mid 80s (Cengage, 2003). These youngsters adopted Madonna’s messy hairdo and bold wardrobe such as lacy undergarments fully expresses the female sexuality and seductiveness. In this report, we will analyze Madonna’s career as an entertainer from the perspective of the Product life cycle and evaluate Madonna as a brand. A product life cycle describes how a product goes through the stages of introduction, growth, maturity, and decline.
Perfectionism is integral to her image. Having her audiences attempt the impossible ideal of perfection which she claims gets them hooked (if it's easy for Martha, it can be easy for you, too). Most people never realize the staffing that is involved for a layout in her magazine, Martha Stewart Living, or the production hours that go into a few minute long segment on her Lifetime cable show.
On March 5, 2004, Martha Stewart, a successful business woman and the founder of Martha Stewart Living Omnimedia was sentenced by the jury to five months in prison at a minimum-security federal prison, another five months of home confinement along with 19 months of probation and $30,00 fine. Stewart was found guilty on four counts in what seemed to be known as white-collar crime. In this paper, I will briefly explain, identify and answer respectively in order on the three topics of, what crime did Martha Stewart commit, what evidence did the jury appear to find most convincing and whether should Stewart have received prison time. I will be using my own ideas along with the researches from reputable and credible sources to support my ideas.
Increasing awareness of a personal and unique identity distinguishes us from the pack. A brand mantra differs from a tagline, explains Guy Kawasaki, as a mantra describes internal business, a standard for a company to abide by. A tagline is for customers and what they can expect to be delivered (Martinuzzi, 2014). John Jantsch, founder of Duct Tape Marketing defines branding "the art of becoming knowable, likable and trustable” (Martinuzzi, 2014). Many specialists on the subject agree that trust building is essential in success. Being honest is one of the top five steps Forbe’s advises when it comes to brand building (Biro, 2013). Some suggestions to follow from, How to Build an Unforgettable Personal Brand (2014) include, making sure customers are provided what is promised, leading with unwavering quality and being consistent in making good on one’s word. The article also warns that the public will assign a default brand if a
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®.
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.
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?
Martha Stewarts strategy style based on Michael Porter’s three key principles of effective strategic positioning is broad needs, many customers. This strategy is used to create a unique valuable position, with broad needs it is the varying domestic based books, supplies, merchandise and etc, that she sells to many customers who look to her as a domestic role model. In August of 2005 New York Times, an article mentions how her ten months in jail has given her time to think, along with come with the decision that the company will broaden their services to develop “a line of branded homes designed by the company and inspired by her aesthetic,” (Carr, C1).
Martha Stewart, the countries top icon for homemaking has been in the eye of the public since June 2002, but not for her craftiness or culinary abilities. Stewart instead has the spotlight on her for crimes of insider trading. A tip from her former broker Peter E. Bacanovic, persuaded her into selling her IMClone stock after sharing information about a close friend of Stewart’s getting rid of his shares. Stewart’s companion, Sam Waksal, was also the chief executive of IMClone Systems Inc. IMClone Systems is a well-known company specializing in the research and development of therapies treatments of cancer. The stock selling was provoked due to a leak of information about The Food & Drug Administration rejecting IMCLONE’s drug outfit application their cancer drug Erbitux. Before the information reached the public about the FDA’s decision and share price plunged, Stewart sold her 3,928 shares of IMClone. Martha sold her shares at $58, and by the time the news hit, prices fell to $45, resulting in a savings of only 50,000 for the celebrity. But the whole situation of the Martha Stewart case is not a question of insider trading but a question of ethics and management in business: it’s an issue of ethics and the choices people have between right and wrong and the determining factors that cause us to make those choices. While researching this subject I have found many interesting topics. One topic I found very interesting was the fact that a highly qualified executive of Merrill lynch, one of the top brokerage firms in the world, was Martha Stewart’s financial advisor. Another interesting point is that Martha Stewart the mom of home cookery and cuisine, a profession based on honesty and founded on the basis of motherhood would lie about the tips she took to earn an extra buck while already being a multibillionaire. After more research I found that the most important point and the topic of the whole situation was the point that even the most perfect and idolized individuals can be manipulated by money or even the thought of more money in the case of Martha Stewart.
Martha Stewart has risen to national prominence as the ultimate host, media star and designer. She crafted a unique brand and built it into a multibillion-dollar business empire. She was charged, convicted and served prison time for insider trading, becoming one of the most famous felons of her generation. Stewart then rebuilt her prominent status after this fall from grace and retained her leadership role in the public company she founded. Her resilience has been an inspiration to millions of adoring fans across all demographics. Stewart did not just break the glass ceiling, she shattered it. Evolving from model to culinary superstar, to publishing mogul, she has redefined what is possible for women to achieve. She has done it all and true to her brand, she has made it look easy and effortless along the way.
1a. Description - The goal of the research was to gain a comprehensive and holistic understanding of the sources and meanings of social cultural branding through ethnographic exploration of the American Girl brand (Diamond et al., 2009). The approach used for each of the building blocks in the qualitative research design model (Myers, 2013) for the American Girl (Diamond et al., 2009) article is shown in Figure 1.
Branding is the talk of the town. Conglomerates spend millions on planning and implementing brand activities. New survey is published and contexts are developed on a daily basis in the effort to find the holy grail of brand management. Since the mid-80s, in general, researchers and specialists alike have explored the domain, scope and latent of the brand. Many different concepts, theoretical agendas and ideas have seen the light of day and, as a result, a wide band of different perspectives on how a brand ought to be conceptualized and managed is in play today
Taylor, D. (2009). Man behind the brand: When brand personality is defined by a person. Central Penn Business Journal, 25(25), 11.
There are many different definitions of brands out there and they all try to establish what exactly is a brand and how it can be used. According to the de chernatony , 1998 defining a brand in one word is very difficult and he used 12 phrases to broaden the definition of brand. Those themes include:
Majorly, there have been three key interest areas within this domain that are discussed over many published papers and journals (Van Riel, Ballmer, 1997). The three areas are: Corporate identity as a function of design, corporate identity as a function of integrated marketing communications, and corporate identity as a function of intra-organizational disciplines. These three concepts shall now be discussed in depth.