In the present moment, the variety of choice when deciding for the next destination is highly diverse, more than it has ever been before. (Pike, 2008) Nevertheless, developing a brand can help customers to easily decide by increasing the chances of meeting their needs and expectations (Pike, 2008)
Consequently, some academics argue that the future of marketing will be a high competition among the brands and tourism destinations will be the biggest and most complex brands. (Aaker, 1991, de Chernatony, 1993, cited in Pike, 2008) One of the most important aspects of branding is the concept of brand equity. This refers to raising awareness to the highest extent possible in order to have a significant equity among the portfolio of destinations.
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The brand identity stands for the internal organisation’s image of the destination, based on its self-image. In order to be successfully developed, Pike (2008) argues that there are three stages: brand champion, brand community and brand charter.
The brand champion represents the concept of having a representative that takes the lead in exploring the destination identity. (Pike, 2008) This individual in charge of the process is usually part of the DMOs’ employees and he is responsible of leading a positive outcome. (Pike, 2008)
The brand community explains that the success of the destination branding is based on the identification and a correct representation of the community’s values. (Pike, 2008) This is of significant importance for the communications of the destination brand, as the locals home will be treated as a commodity. (Pike, 2008) Therefore, Pike (2008) suggests that the identity of a destination is the sum of host communities’ values and the customer experience at the destination which translate into a vision that motivates all involved
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Destination positioning is built by the induced and the organic image of tourist, in relation to the cognition, affect and conation. These are influenced by tourists awareness set, evoked set and top of mind awareness (ToMA). Moreover, other factors which influence conation are travel context, motivation previous visitation, demographics, and attribute determinance. A favourable brand positioning leads to tourists’ likeliness to purchasing a holiday to a certain
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.
Branding is defined as “the promot[ion] of a product or service by identifying it with a particular brand” (Merriam-Webster, 2015). Branding is also used to create a corporate image or brand by utilizing logos, corporate statements, and other images that will be associated with or displayed on all of that company’s products (Wolak, 2002). A brand is a valuable, enduring asset that is essential in creating and maintaining competitive advantage in an industry (Wolak, 2002; Murphy, 1988). This corporate asset can be just as important as the product or service behind it, because it carries name recognition and peace of mind to customers in the purchase decisions they make everyday (Hall, 2008). Brands essentially work as a “shorthand device” for consumers to evaluate product decisions by conveying a message of uniform quality, credibility, and experience
We propose a branding strategy which takes into account the brands capabilities and competencies, strategies of competition brands and the outlook of consumers experience in their respective societies. As an international brand there is the challenge of staying connected with local customers. We will overcome this by adapting marketing strategy to local needs using a variance of standardized marketing mix and an adapted marketing mix.
...of brand equity in an organizational-buying context. Journal of Product & Brand Management, Vol. 6(6), pp. 428-437.
Companies use a collection of brand equities to represent their products in the market (Voolnes, 2012). Brand equity refers to the commercial value that is derived from the perception of consumers on any given brand name of particular products in the market as opposed to the product itself. Ataman (2003) notes that the effect to the consumer is in the brand name and not the product itself. Companies use logos, trademarks and a collection of other symbols to present this information to the customers. The use of these symbols is meant to try and capture the customer mindset so that they can be thinking about the company products at all times through the items they possess at home (Estes, Gibbert, Guest, & Mazursk, 2012). This can well be explained by use of the customer-based brand equity model that brings together the requirements for a publicly renowned brand in the market.
Brand equity is crucial as it implies that the brand itself is an important (financial) asset and can be calculated in financial terms (Barwise, 1993). This is particularly important in the luxury sector as from a behavioural viewpoint, brand equity can differentiate a company or product from other competitors, adding to their competitive advantages based on non-profit competition (Aaker, 2004). The model created by Aaker (1992) states that there are four categories of brand equity; Loyalty, Awareness, Perceived Quality and Associations. Luxury branding relies on a high level of perceived quality, loyalty and associations, although potentially less so for awareness, as it is thought that consumers choose luxury brands based on their exclusivity and as such the more the awareness that surrounds the brand, there is potential for it to become less valuable (Phau and Prendergast,
Tourists are more dependable on website to get the information and overview of destination. Therefore one of the website of bay of island is www.tourism.net.nz, which gives complete information. In this assignment, we will mainly discuss about marketing mix, customer wants, creating value for the customer, destination location and tangible experience from tourism marketing perspective.
Tourism industry has many pillars which makes it effective, destinations, products, infrastructure, tourist security, marketing and so on, one of them is re branding of a destination, which is considered immensely important to cater the needs and wants of tourist and destination itself. This essay will critically evaluate the destination chosen which is London, its current situation for tourism activities, places and services which are offering to tourist and then moving onto the other side discussing the products or places which has not been promoted as like others, re branding them, creating a new slogan for marketing strategies, attracting and giving information to tourist via promotional activities to sell these brands.
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 article studies the relationship between advertising and sales promotions and their impact on brand equity. A main priority for most companies is to establish and achieve a strong and powerful brand name. A company can build a strong brand name by creating the market for their customers want. By creating a strong brand name, a company will become more established. Brand equity is important to the producer, retailer and consumer. The consumer knowledge of the brand says how the producer will produce and market the product. The consumer knowledge of the brand name also determines the quantity the retailer will sale. Brand equity can have a positive or negative effect. A positive effect would be for everyone to recognize the name and purchase the product. The negative effect would be to have the product recalled. Brand equity is important because it can offer many advantages for a company. Brand equity can create a high demand for your product, reduce marketing cost and the company’s brand name will have high credibility.
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.
This can be manifested in an ability to attract and retain customers and employees, achieve strategic alliances, gain the support of financial markets and generate a sense of direction and purpose. Corporate identity is a strategic issue. Corporate identity differs from traditional brand marketing since it is concerned with all of an organization’s stakeholders and the multi-faceted way in which an organization communicates.” (Ballmer, Bernstein, Riel et al. 1997)
In other word, it means that they are marketing services rather than goods. For example, a hotel will want to give a relaxing and fun atmosphere for the customers and inspires those same feelings in the consumer. Because the hospitality industry is mostly made up of tourism and other experiential services, a consistent brand identity is also very important. Marketers want to ensure that brand recognition exists so that customers will repeat to use their services. Repeat customers can create a greater revenue, which mean marketing strategy is necessary to consider about maintaining the relationships with the old customers while seeking out new customers as well (Hussung, 2016). Therefore, with the special characteristics of tourism products, the role of marketing in tourism industry compared with other industries is more important and implementation of marketing tools for a country is considerable. To illustrate, marketing can offer some information about the specific place to encourage the tourists to visit their destination (Laimer & Juergen, 2009). Thus, tourism revenue and international income can be increase by good planning and administration of marketing
Tourism is affected by the stakeholders with whom the destinations are established or the areas that are attempting to attract tourists. The customer stakeholder needs to seek out destinations and packages that appeal to their desires than accepting predetermined vacation packages. The stakeholder’s in the tourism industry need to work together to avoid miscommunication and enhance packages that appeal to clients requests. All the