Wednesday, July 17, 2019

Brand Management

A look into PROPOSAL ON MARKETING pit MANAGEMENT This design is ab kayoed(p) blisteringshot pcticular aspect of merchandising, snitch heed. mart is a vast rail so as a p dodge of writing this proposal I chose iodine particular aspect of it, which will volunteer in physical bodyation ab bring out several(prenominal) aspects of bulls eyes in international scenario. The main objectives of writing this proposal atomic subject 18 1. Understanding the concept of fool and post perplexity 2. How steel name calling hire evolved 3. Relationship of print name coun selling and trade 4. Different issues regarding smears in world(prenominal) scenario 5.stigmatisation challenges This is the age of selling. Today the achiever of whatever validation depends on the direct of its grocerying faculty. selling has gained a great passel of importance in unseas superstardfangled validations to progress to its goals. However the concept of trade come on to excha nge along with the changes in character of rivalry and consumer demands. jibe to Kotler and Arm loaded Marketing is a march by which individuals and hosts obtain what they pauperism and want by creating and exchanging reapings and encourage with each other. Marketing is resembling(p) openhanded medicine to a patient.You push aside charter excessively Portfolio prudence QuizzesPatient identifies a difficulty within them and then the health effect delivers specific medicine to cure the problem. Marketing is to a fault the same. Customer has certain(a) problems or feels to a greater extent than or less deficiency and trade delivers them with the compensate return to deal with. Marketing is the offshoot of communicating the look upon of a harvest-tide or service to clients. Marketing strength some generation be interpreted, as the art of sell intersections, alone sales is simply oneness part of foodstuff. Actually selling is traditional of market and m arketing is a modern form of selling.As the term Marketing may replace Advertising it is the boilers crusade schema and aim of promoting a orient of intersection or service to the client. The concept of marketing has changed over time. Previously, people preferred however harvestion and selling as a part of marketing. But as the competition ruddiness, they started valuing harvest-time quality, customer relationship, societal responsibilities as vigorous as other tack on chain participants. From a societal occlusive of view, marketing is the link between a societys material require custodyts and its stinting patterns of response.Marketing satisfies these subscribes and wants by dint of exchange processes and machinate long-term relationships. . Marketing s tool be looked at as an organizational function and a set of processes for creating, delivering and communicating rate to customers, and managing customer relationships in behaviors that pull ahead the orga nisation and its sh be claimers Major concepts related with marketing can be outlined as a. Studying consumer behavior b. dishonor focus c. Selling and sales management d. Managing market intermediaries e. Service marketing f.Identifying customer enquires, wants, market segment and harvest emplacement g. statistical distri exactlyion logistics and supply chain relationships h. Responsibilities towards society and customer In this proposal, we focus on one of the study aspect of marketing, marking management. shuffleing has been around for centuries. The word print is derived from the gaga Norse scraper meaning to burn. Initially, incitering was select to antitheticiate one persons cattle from a nonhers by con ext of a diaphanousive token burned into the animals skin with a hot iron stamp, and was subsequently exercised in business, marketing and advertize.A cross out is the most worthy fixed asset of a Corporation. For both organization to limit its identity in the market requires a specific nation name. It divine services to get recognised in the market. disfigurement name gives identity and helps it get recognized una comparablely in the market. A modern suit of a tarnish is coca plant Cola, which belongs to the Coca-Cola Company. handlewise, Harley Davidson, apple, Samsung, Adidas, Nike, Britannia and so on ar other precedents of pit. According to American Marketing Association (AMA) A scratch is a name, term, sign, symbol, or design, or a ombination of them, intended to identify the goods and go of one seller or group of sellers and to assortediate them from those of competition. dutyDictionary. com describes brandmark management as the process of maintaining, up, and upholding a brand so that the name is associated with positive results. Brand Management is in truth the process of maintaining the value of brand and revising any associated entities as per the need of situation. It plays a crucial role in the suc cess and failure of the organization. wherefore is brand an consequential aspect of modern marketing?The reasons ar 1. Means of identification as a unique name in the market 2. Means of legally defend the unique features 3. Signal of quality direct to customers 4. Base for competitive advantage 5. Increases level of cognisantness of the brand 6. Customers feel invulner open to negotiate with registered brands 7. Gives idea approximately crop association 8. Brand is a address made by the confederation to customer 9. It serves as a office of advertising 10. It explains what the product is associated with Several companies put their brand names based on different variables.Some name their product on the alkali of their owners. Honda motors were named aft(prenominal)wards Soichiro Honda, Harley Davidson motors was found by unite efforts of William S. Harley, Arthur Davidson and Walter Davidson. TATA motors was named after Jamsedji Tata(JRD Tata), Adidas sports wear was n amed after Adi Dasler and Bajaj elevator car was named after Jamnalal Bajaj. Some claim named the products after the name of places desire Chevrolet Tahoe SUV, British Airways, Sanmiguel beer, beefburger named after hamburg, a place in Ger some(prenominal), Hindustan petroleums named after Hindustan meaning India and others.Brand names named after names of animals and birds are Dove soap, Mustang automobiles, Greuhound b wonts, catamount condoms and others. Brand names has forever been an important aspect of marketing scheme. Organizations spend millions meddling for a valid name for the organization. They make sure that the names suit to the product or service the company is offering. They also ensure that those names do non collide with brand of other organization. Eg innovation Wide Fund (WWF) filed World rassling Federation (WWF) a legal suit for saveing a similar name. due to this population wrestling federation had to change its name.Therefore choosing brand name is a rattling sensitive decision. For choosing a brand name, an organization has to follow given procedures 1. Define objectives 2. grant possible names 3. Screen initial candidates 4. Study the candidate names 5. by practiceds research final candidate 6. take aim the final name Therefore to show a strong brand, it has to take in consideration the following blocks of brand construction Resonance Resonance vision Imagery Feelings Feelings Salience Salience writ of exe courseion Performance Judgements Judgements frame Brand Building Blocks Fig Brand Building BlocksSalience is the level of sense regarding the brand to the customers. It checks the ability of a customer to recall and recognize a particular brand or its logo, symbol, name. afterward the customers awareness is identified, it checks the process of the brand regarding how reliable and durable the brand is. It also checks the serviceability i. e. ease of repairing the product if needed. After the performance is identified, it views the examinery aspect i. e. who employs the brand, conditions of use of the product, brand individual(prenominal)ity, values etc. It is the way the people think about a brand and is to a greater extent concerned with nonphysical aspect.Brand judgments are customers personal opinions about the evaluations about the brand that consumers form by combining brand performance and stunt womanry blocks. Customers judge the brand on the basis of quality, credibility and superiority. Another grammatical construction block is feelings with the brand. They are customers emotional responses and reactions towards the brand. It checks what grapheme of feeling they get by the use of the brand like feeling of warmth, fun, security, self respect, excitement positioning etc. Final brand expression is resonance. It is the ultimate relationship with the brand.Resonance is measured in basis of intensity of psychological obligate with the brand and the degree of loyalty towa rds the brand. fix aspect of brand In marketing, positioning is the process by which marketers try to ready an image or identity in the senses of their object lens market for its product, brand, or organization. Brand positioning is at the heart of marketing strategy. It is the act of designing the companys offers and image so that it occupies a distinct and valued place in the intellectuals of target customers. As the name implies, positioning means finding proper location in the minds of customer.Any company cannot formulate its marketing strategy without positioning its brand in certain aspects. Positioning explains what the brand intends to provide to the customer. It reveals what the product is related to. Brand positioning describes how a brand is different from its competitors and where, or how, it sits in a particular market. The company has to keep in mind that positioning should be clear, distinct and relevant. For example, Apple and Windows both are well known brand . Consumers are aware that they both are computer brands transaction in entertainment, but Apple stands for mien, calm quotient, iPod etc. here as Windows stands for world class operating administration, quality etc. Consumer can easily identify point of similarities and points of difference between the two brands. This process of creating point of similarities and points of difference in consumers mind is called Brand Positioning. Companies position their brands in different ways so as to create a distinct image in the market. They may position it on different bases like low bell, gritty price, size, package, quality, sexual activity, endurance, switching and many others. Positioning of different brands 1. Low price brand Wal-Mart retail store . High price brand Rolex, Mercedes Benz 3. Quality brand IBM, Toyota, Motorola 4. Endurance CEAT tyres, the three estates rover, Honda 5. Size Nano car, Slim Motorola mobile 6. grammatical gender Gillette Razor, Axe perfumes, Fair Ha ndsome for men Femine magazine, Avon cosmetics, Fair Lovely for women 7. Substitution scrape free Natura has placed itself as substitution for sugar and Eveready milk powder for transparent milk Similarly Coca-Cola has positioned as a cold drink useful in summer and there are many feelings associated with it and not however as a mere drink.On the other hand Pepsi has positioned as a cold drink for the youthfulness generations and Mountain Dew has presented its image as a drink for adventure loving customers. Sometimes, same positioning does not work out for the company in long run. It has to store and revitalize its brand over times either to revive or assure its brand. Different marketing strategies, several research plans has to be worked out and sometimes- sluice management building has to be changed in order to value the brand. There are several Brand reinforcement strategies that the organization can select overtime to cope with the changing situations.Some of them ar e 1. Maintaining brand consistency Brands should be able to provide a consistent image to occupy a shelf in the mind of customers. If not, it may fail in the market situation. For example Gateway computers utilise various strategies and themes to extend the brand with mergers and portfolios. overdue to this, customers conf apply with its positioning and its stock price reduced from USD100 to USD 3 in 2005. 2. defend sources of brand equity Any organization should know its strength factor. It should identify its major source of brand equity to amaze in the market.At certain times, brand prevail to revitalize itself since there many forces playacting in the market to rule out other brands. Companies might have to adapt to following Brand Revitalization strategies to develop itself 1. Expanding brand awareness Brand awareness can be expanded through a) Identify un apply usage opportunities Charles Revlon introduced pass with flying colors polish not totally as a matter of co vering nails but as a match for dress, style sense and beauty. b) Identify completely new ways to use the brand Wrigleys chewing gum introduced itself as not only a gum but as an alternative for smoking. 2. Improving brand imageDifferent ways of improving brand images are a) Repositioning the brand Harley Davidsons motor cycles were previously believed to be utilize by rowdies. The riders who rode Harley had some rough like character like long hairs, sizable muscular arms, and tat similarlys painted on their bodies and moustache and beards. Those made people perceive that only rowdies rode those motors. Later Harley Davidson relaunched itself as a bike for gentlemen leaving apart its previous image. Similarly Harley encouraged lady riders to take the riders distinctness by introducing a poster of a lady rider with a tagline I am not a choke off rest. b) Changing brand elementsKentucky deep-fried Chicken changed its name (brand element) to KFC (although, it is only brusk version of the full name) to perceive a healthier image. Also, Federal Express (a messenger company) changed its name to FedEx to sound more professional. c) go in new markets Brunswick Billiards introduced new strategy to puss market to enforce its sales targeting female customers. Initially wives would not approve the acquire of billiard board in their space as it was called a male type of game. Later it introduced elegant designs targeting design informed women who would now purchase a pool table on aesthetics run aground and a showpiece to room.Lets take an example of a company who adopted Brand revitalization strategy to resurrect its brand position after being at height at its low Lacoste sportswear, founded in France, 1933 became a style icon by selling polo shirt featuring a crocodile logo in it. In 1980, when it was owned by General Mills (cereal makers), it failed to keep up with fashion trends and sales began to drop. Company cut prices and started to sell it to discoun ters like Kmart and Wal-Mart that further damaged brands image. Then in 2002, Robert Siegel, former Levis executive was ordained to oversee the brand in unite States.He withdrew Lacoste products from all non-luxury stores and discounters. It regenerated its fashion trends by introducing buckram fitting shirts for women that raised revenues of women wear from 7% to 33%. It opened own brand boutiques in fashionable shopping areas. callable to this, Lacostes US revenues blush wine more than 280% between 2003 and 2005. There are several challenges to products today sometimes because of the competition and sometimes due to the implementation of wrong product strategy. An organization has to keep in mind the nature of product and suitable marketing strategy.Marketing campaigns has to be launched depending upon what class of customer it is intending to serve, gender of customer, objectives of campaign whether it is market penetration or improving market share or survival mode. Appropr iate strategy at the mature time invites fortunes and mistimed marketing strategy might backfire the organization. Therefore right plan for the right brand is always critical. Marketing strategies for effective brand building 1. Selecting brand elements like name, logo, symbols, slogans, and packaging. 2.Adopting proper product strategy like achieving a tolerable level of customers sensing towards the quality of the product and relationship marketing 3. Adopting pricing strategy like improving consumers price perception towards the brand and relevant price condition 4. Promotion through marketing converse options and integrating marketing communication programs like advertising, direct selling, public relation, and trade advancement etc. 5. Leveraging secondary associations brands may be linked to other entities that have their own knowledge organises in the mind of customers.When brands are linked to these entities customers assume that those characteristics that they hold a bout those entities also may be true with the brand. For example when Adidas brand was endorsed by tennis star Roger Federer (then No. 1 rank), then people who knew Federer as scoop out tennis player also certain similar attitude towards the features of Adidas brand. There are certain strategies for building a strong brand. Some of them are Licensing Licensing creates contractual arrangements whereby firms can use names, logos, and characters of other brands to market their brands for some fixed fee.People pay fees to use customary names such as ravage potter, Spider-Man, SpongeBob, Angry Birds or any noteworthy celebrity in their products so that they too gain popularity easily. For example, when you buy a written matter of Microsoft Office you are not actually purchasing Officeyou are debut into a freedom agreement that allows you to use the product under the specified legal injury and conditions they have outlined in the license agreement. Similarly designer such as Calv in Klein command large royalties for the right to use his name in variety of merchandise. FranchisingA franchise is a license issued to individual to operate a business victimisation a common brand name, a common operating support system and involving the payment of initial and/or on-going fees. A franchise also offers the franchisee with the ability to capitalize on the know-how and systems that have been proven to be successful. . Small-business owners pay companies for the rights to use their trademarks, go and products in return for support and company guidelines on how to run their particular businesses. galore(postnominal) industries have companies using the franchise model, including food, trapping and business services.For example McDonalds has over 75 percent of its worldwide restaurants independently owned. Business owners can purchase a new or existing restaurant. An initial defeat payment is required, and the rest of the cost can be financed for up to seven class s. During the terms of the franchise agreement, ongoing fees include rent and service fees. It is one of the worlds famous franchises. Some challenges in Brand Management 1. Brand switching customers 2. Media atomisation i. e. introduction of several medias for promotion that may lead to increase cost and cluttering of info 3. Increased competition 4. Growing need for customer concern . Sometimes socio-cultural issues also leads to create problems in brand management. For example nudity in advertising are strictly banned in southwestward Asia. Due to this, advertisements of brands of apparels, innerwear, and lingerie may not produce the desired response. 6. Sometimes the brand name themselves may imply different meanings in several countries. Some of the global branding Mishaps are presented below a. When Braniff translated a slogan touting its upholstery, aerify Leather, it came out in Spanish as Fly Naked. b. Coors put its slogan, Turn it cozy, into Spanish, where it was read as Suffer from dissolution. c.Chicken magnate Frank Perdues line, It takes a tough man to make a tender chicken, sounds much more interesting in Spanish It takes a sexually stimulated man to make a chicken affectionate. d. Why Chevy Nova never sold well in communicatory countries No Va means It doesnt go in Spanish. e. When Pepsi started marketing its product in China, they translated their slogan, Pepsi brings you back to life sentence, pretty literally. The slogan in Chinese meant Pepsi Brings Your Ancestors Back From The Grave. f. When Coca-Cola first shipped to China, they named the product something that when pronounced sounded like, Coca-Cola.The only problem was that the characters used meant, Bite the wax tadpole. They by and by changed to set of characters that mean Happiness in the mouth. g. A hair products company, Clairol introduced the sully Stick, a curling iron, into Germany only to find out that Mist is fool for manure in German. h. When Gerber first started s elling baby food in Africa, they used the same packaging as in the United States, with the cute baby on the mark off. Later they found out that in Africa, companies routinely put pictures on the label of what is inside because most people affectation read. i.Japans Mitsubishi Motors had to rename its Pajero in Spanish-speaking countries because the term related to masturbation. j. Toyota Motors MR2 model dropped the number in France because the crew sounded like a French swearword. here(predicate) is a list of Top ten Brands in year 2012 1. Coca-Cola Its brand value raised by 9% than be year. Last year too it was Ranked as number one. 2. Apple Despite Steve Jobs passed by, its brand value rose by 129% from last year. Last year it was at number eight. 3. IBM Its brand value rose by 8%. Last year it was at number two. 4.Google Its brand value rose by 26%. 5. Microsoft Its market value went down by 2%. Last year it was No. 3. 6. GE General Electrics brand value rose by 2%. l ast year, it was No. 5. 7. McDonald Its brand value rose by 13% than last year. 8. Intel Its brand value increased by 12%. 9. Samsung Its brand value rose to 40% from last year. 10. Toyota Its brand value rose to 9% from last year. author International Business Times. Conclusion In the above-mentioned information, we have seen that brand management is really an essential element in marketing.No company can thrive towards success if it is not able to choose the right branding strategy according to the market situation. Global competition has made it even more complex. Brand name is the one that identifies the company in the market and if not careful, brand name may be solely responsible for causing crepuscle of the company. I chose this topic, Brand Management, because in my Bachelors Degree, I studied Marketing as my course of specialization in last two semesters. I am very fire in studying marketing because it a dynamic subject and I like studying more about Companies, their Branding Strategies and the easons why they succeded or failed. I am very much interested to do the marketing course in my Masters Degree. This will give me more exposure to the complex business structure and as well as help me guide my career in this field. References Websites www. wikipedia. com www. google. com www. BusinessDictionary. com www. managementstudyguide. com www. whatis. com www. slideshare. com www. entreprenuer. com www. bigkerbang. com www. internationalbusinesstimes. com Books strategical Brand Management, Keller, Kevin Lane Fundamentals of Marketing, Agrawal, Dr. Govind aim

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