...Because of the online-age, the interest in brand communities has boomed. Companies have begun to realize that consumers can co-create value, co-create competitive strategy and collaborate in the firm’s innovation process. So customers are not anymore separate and exogenous to the firm but on the contrary they should be included in the companies’ actions. One way to include customers and create collective value is to invest in brand community. Brand community is a community that is formed around some good or service and the brand is the one that keeps the community together and is the reason for it. Brand communities exist in the minds of people and there is shared understanding within the members. One of the most researched brand communities is Harley-Davidson. Other brand communities mentioned in the articles are for example Jeep, Apple Newton, Lomo and Holga, and Mini Cooper. Brand communities differ by many ways, some communities are closer to a company, some are more far away, in some communities members participate a lot and in some less, and the level on how much the company participates in the community differs a lot. Also the amount how much consumers can co-create value and collaborate in the firm’s innovation process differs between firms and communities. McAlexander’s et al. (2002) view on brand communities emphasizes the view of different kinds of relationships within a brand community. They state that “a brand community from a customer experiential perspective...
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...3.0 BRAND POSITIONING AND VALUES 3.1 Bagman Brand Elements Brand elements are devices, which can be trademarked, that identify and differentiate the brand. Most strong brands employ multiple brand elements. Marketers choose brand elements to build as much brand equity as possible. (Kotler & Keller, 2012) The real challenge is to understand whether or not the consumers think and feel if they only know about these brand elements. For example, a brand name might reflect the whole company and its business, from the eyes of the consumers. Brand elements play an important role in brand-building, where it might influence the minds of consumers who doesn’t need or use product information in making purchase decisions. A brand should be easy to recall but at the same time descriptive and persuasive in order for consumers to repeat purchases and be confident that they are familiar with the brand. In Bagman’s case, we have identified a few brand elements that are used, which are the Brand Name, Logo, Tagline and Designs. 3.1.1 Brand Name A Brand name is the part of the brand that can be spoken, including letters and words. Usually, what is understood is that brand names simplifies shopping, guarantees a certain level of quality and allow the brand’s self-expression. The importance of a brand name are usually that it deliver the message of the brand clearly, confirming the brand’s credibility and connects to the brand’s targeted prospects emotionally, motivates the consumers...
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...1. Value Strategy Definition: In defining Value, we begin by following Porters (1980) in considering a vertical chain extending from supplier of resources to firms, through firms, to buyers of products and services from firms. Value is created by such a vertical chain of players as a whole. In particular, vale creation depends on the characterises of all three categories of player in the chain- suppliers, firms, and buyers. Why choose this strategy: - Used by management of a firm focused on developing and executing strategies that helps increase revenue, improve marketing return on investment and maximize business operation efficiencies. - The value strategy helps product and professional service firms build a scalable, competitive advantage by integrating their sales, marketing strategy, operations and financial management into one revenue capture process. Example: One of the most obvious examples of strategic value is reducing competition. More recently, many of Microsoft’s company acquisitions have been viewed as Bill Gates reducing competition. The American government, and some in Europe, dragged Bill Gates into court in an attempt to reduce his monopolistic influence in the global economy. 2. Brand equity strategy Definition: Brand equity is the result of a process which leads to a creation of a unique and distinct brand identity. A brand strategy can be thought of as the translation of the business strategy for the marketplace. It defines the manner in...
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...U I I C I M I FXFPIITIV F ''"^ ^ '"'^" ^ ^^'" ^ ^^^' " °^^^^^ ^ holistic , integrate d approac h t o understandin g th e valu e create d b y brands . Accordin g t o th e model , bran d valu e creatio n begin s wit h th e firm' s marketin g activity . Thi s influence s customer s who , i n turn , affec t ho w th e bran d perform s i n th e marketplac e an d i s ultimatel y value d b y th e financia l community . Thre e importan t multiplier s moderat e th e exten t o f transfe r betwee n thes e valu e stages : th e progra m qualit y multiplier , th e marketplac e condition s multiplier , an d th e investo r sentimen t multiplier . bran d i n term s o f ho w i t perform s i n th e marketplace—th e aggregat e o f individua l custome r action s regardin g quantit y pur - chase d an d th e pric e tlia t the y pay . Finally , tli e investmen t com - munit y consider s bran d performanc e an d othe r factors , suc h a s replacemen t cos t an d purchas e pric e i n acquisitions , i n term s o f thei r futur e prospect s (growt h rate ) t o arriv e a t ii n assessmen t o f shareholde r valu e i n genera l an d bran d valu e i n particular . Th e mode l als o assume s tha t a numbe r ...
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...PRODUCTS, SERVICES, AND BRANDS: BUILDING CUSTOMER VALUE MARKETING STARTER: CHAPTER 8 Nike: Building Deep-Down Brand-Customer Relationships Synopsis Marketing is all about creating brands that connect with customers, and few marketers have done that as well as Nike. During the past several decades, Nike has built the Nike swoosh into one of the world’s best-known brand symbols. During the 1980s, Nike revolutionized sports marketing. It powered its way through the early 1990s, aggressively adding products in a dozen new sports, including baseball, golf, skateboarding, wall climbing, bicycling, and hiking. In the late 1990s, however, Nike stumbled and its sales slipped. Nike needed to rekindle the brand’s meaning to consumers. To turn things around, Nike returned to its roots: new-product innovation and a focus on customer relationships. This time, Nike shifted toward cutting-edge digital and social marketing tools to interact with customers to build brand experiences and community. Nike is now building communities of customers who talk not just with the company about the brand, but with each other as well. Thanks to efforts like Nike+, along with a host of other new digital and social media approaches, Nike has built a new kinship and sense of community with and between the brand and its customers. The company’s outstanding success results from much more than just making and selling good sports gear. It’s based on a deep-down connection between the iconic Nike brand and its customers...
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...The Influence of Personality, Brand Personality, Values and Cultural Differences on Consumer Behavior and Service Management Example: McDonald’s Author: David Burtscher Date: 23th of June, 2014 I Abstract This paper presents the constructs of personality and brand personality as well as the construct of values from consumer behavioral view. Furthermore the paper gives a short insight into value related cultural differences. The paper can be arranged into three parts: personality, values and culture. At first the single constructs are described theoretically, then the relationships and differences between the constructs are discussed shortly. As a last step we tried to integrate and apply the theoretical knowledge at a practical example. For this we chose McDonald's. We think McDonald’s is a good choice because it is present all around the world in many different cultures and it also appeals many different customer types. II Table of Contents Abstract..................................................................................................................................................... I Table of Contents ................................................................................................................................... II 1 2 INTRODUCTION ....................................................................................................................1 PERSONALITY AND BRAND PERSONALITY ........................................
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...Introduction Social Value of Brand is defined for users as the extent to which people share information about a brand as part of their everyday social lives according to Michael Bartl and for companies, it is the share of brand’s equity which result from social interaction among brand users. It occurs when there is interface between consumers and the brand. Nowadays, consumers are more interconnected with value of the brand they consumed and see different aspects with it. For example, when consumers think about Burger King, some of them will think of it as one of the delicious and comfort food for people, but on the other hand, other consumers may think of the brand as a crippling part of health and a cause of obesity. It is not true that brand social role is always positive in this society. There are seven factors that represents one of the most powerful at our disposal for positive social change which is called the Seven Social Wins. The Seven Social Wins include the ff: 1. Brands foster customer loyalty that leads more reliable company earnings and more sustainable levels of employment and wealth creation. 2. Brands are a spur to innovation. 3. Brands provide a reliable mechanism for consumer protection. 4. Brands create pressure for corporate social responsibility. 5. Brands provide a platform for corporate social leadership. 6. Brands play a progressive social role that create for the not-for-profit sector. 7. There is a sense in which brands promote social...
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...Singh Submission Date: 11/09/2011 [Word Count: 2750] (Excluding appendices/bibliographies, tables and diagrams) Advertising and Promotions of a customer brand contributes more to its success in creating added values compared to any other individual factor. Executive Summary: This report highlights the importance of advertising and promotions and presents it as one of the most effective tool in an organization’s promotional mix. Creating customer value that effectively leads to customer loyalty is essential and the main mantra to sustain in the current cut-throat competitive market scenario. This study compares various elements of the promotional mix and establishes that the contribution of A&P is indisputably colossal as compared to other factors. Introduction: Today’s business world is immensely powerful and competitive. Customer Relationship and monetary gains are two areas around which businesses revolve. Establishing and maintaining consumer relationships and reaping profits are two business goals. Both are different principles, and both crucial for an organization’s success, often the former goal leads to attaining the latter. Peter Drucker has rightly stated ‘The purpose of a business is to create a customer’. That’s exactly what this report talks about. We’ll look into the significance of creating values for customers, means and tools of delivering standards, discuss the promotional mix, how and...
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...Marketing Paper For Value Brands REPUBLIKA NG TM: ASTIG TAYO DITO! Touch Mobile or TM is one of the cellular service brands of the second largest telecommunications company in the Philippines, Globe Telecom, Inc. Positioned as the champion brand for value seekers in the country, it was triumphant in gaining recognition as the first-mover in providing the most affordable, hence lowest priced call and text promo offers. It was also the first brand that paved way for popularity of bucket promos that include all network texts and voice calls allowing TM subscribers to connect to other local sim users. Currently with around 11 million subscribers, TM has a meager 15% share in total prepaid mobile market ranked as the 4th key player in the industry. Sinong Pinaka-ASTIG? : Introduction to the Environment of TM “Hyper-competitive” has been the superlative tagged to Telecommunications (Telco) Industry in the past few years as evident in the continuous exponential upsurge of telco subscribers clamoring for better, to say the least, value for their communications enabler day after day. Dubbed as the “Texting Capital of Asia”, the Philippines has posted around 75 million phone subscribers processing an average daily texting rate at 1.39 billion SMS messages per day. This consumer behavior has been the concrete evidence that fuelled steady growth, even during the height of 2008 recession, of three dominant players in the Philippine telecommunications industry -- Smart Telecom...
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...Primary value of the brand Siddhalepa Siddhalepa is one of the well recognized herbal trademarks in Sri Lanka, Which mainly concern about the human well being and sanitary problems. Ayurveda can be defined in holistic form of medicine affected from natural resources which makes an enhancing healthy way of life from the ancient time. It is established on a perception of safety and efficacy when using Ayurveda products, which unambiguously avoid destructive side effects, providing the foundation of quality standards. The outcome has been traditional and realistically environmental friendly and consumer friendly natural medicinal products. When studying on primary value of the brand and the organization value generation process they have followed a 5 step marketing process 1. Understand the market place and customer needs and wants 2. Design a customer driven marketing strategy 3. Construct an integrated that delivers superior value 4. Build profitable relationships and create customer delight 5. Capture values from customers to create profits and customer equity Understanding the market place and customer needs means understanding the needs wants and demands of the customers and what the market offerings for the customers are. Market offerings means some combinations of products, services, information or experience offered to a market to satisfy a need or a want. One of the important points in understanding the market place is value and satisfaction which...
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...Big Companies Buy Small Brands with Big Values Customer Service Baker College of Owosso Introduction In this assignment, I will talk about some causes I believe in, and I will discuss some companies or organizations that support those similar beliefs. I will discuss if and why I feel inclined to do business with such organizations, and what factors influence my loyalty to them. I will also talk about some organizations that I try to avoid, due to some of the policies that guide them, and what if anything they could do to win my business back as a customer. Body While there are some causes I believe in, I cannot sit here and tell you that I follow a conscious routine of buying products that are natural, organic, or green friendly. I will say that I am really never in the position of buying any of the products (food, cleaning, or otherwise) that we use in our household, because my significant other won’t even let me go shopping with her, in fear that I will spend too much on things that we don’t really need. In talking with her on this subject, she acknowledged that she is not a conscious shopper in these areas as well. With today’s economy and most living on a limited income makes it hard for many to part with the added costs of organic foods. We do believe in natural products, but that is probably based along the lines of supporting the local farmers, more than anything. While natural products like fruits and vegetables are more along the lines of being...
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...TOP 100 MOST VALUABLE GLOBAL BRANDS 2015 Brand Category Brand Value 2015 $M Brand Contribution Brand Value % change 2015 vs 2014 Rank change 1 Technology 246,992 4 67% 1 2 Technology 173,652 4 9% -1 3 Technology 115,500 4 28% 1 4 Technology 93,987 4 -13% -1 5 Payments 91,962 4 16% 2 6 Telecom Providers 89,492 3 15% 2 7 Telecom Providers 86,009 3 36% 4 8 Soft Drinks 83,841 5 4% -2 9 Fast Food 81,162 4 -5% -4 10 Tobacco 80,352 3 19% -1 11 Technology 76,572 5 43% 3 12 Technology 71,121 4 99% 9 13 Retail 66,375 2 14 Retail 62,292 4 -3% -4 15 Telecom Providers 59,895 4 20% 0 16 Regional Banks 59,310 3 9% -3 17 Conglomerate 59,272 2 5% -5 18 Logistics 51,798 5 9% -2 19 Entertainment 42,962 5 24% 4 20 Payments 40,188 4 2% -2 21 Technology 40,041 5 35% 4 22 Regional Banks 38,808 2 -8% -5 23 Telecom Providers 38,461 3 6% -3 24 Technology 38,225 3 5% -5 25 Payments 38,093 4 11% -1 Source: Millward Brown (including data from BrandZ, Kantar Retail and Bloomberg) Brand Contribution measures the influence of brand alone on financial value, on a scale of 1 to 5, 5 highest NEW ENTRY Coca-Cola includes Lights, Diets and Zero TOP 100 MOST VALUABLE GLOBAL BRANDS 2015 Brand Category Brand Value 2015 $M Brand Contribution Brand Value % change 2015 vs 2014 Rank change 26 Retail 35,245 2 0% -4 27 Telecom Providers 33,834 3...
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...of the most important aspects of strategy in modern business is “Branding”. Western companies were the first to realize the power of strong brands and invested heavily in building them. The big example is Coca-Cola. Then followed Japanese with Sony & Toyota leading their way. Only recently, the Eastern companies are realizing the importance of branding and today Samsung is benchmarked along with its top rival brands from Western World. In the past all these Eastern companies where functioning as a low cost manufacturing based for their Western counterparts. There are many advantages of owning a powerful brand, not just an option of premium pricing. But building a brand is a costly and consistent affair. Also brand is often misunderstood merely as an advertising function and is therefore widely mismanaged. In good old days, branding was adopted to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot iron stamp. And if we go through marketing books you will see the official definition of a brand as, “a brand is a name, term, sign, symbol, or design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors”. But if you come across the advertising man like me, they might define brand as a collection of perceptions in the minds of a consumer. If I have to elaborate this, I would say that it is a mental impression of an experience...
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...Value based price: Customer define the value of the product. Does not mean high price. Three levels of Product: Core product, when you start with a new product in the market. In question mark stage you offer core product. Actual product; because of comptetition you offer a design, quality level, brand name, packaging etc. It depends on your customer. Augmented product; installation, after sales service, delivery etc. Potential Product; satıcı da alıcı da farkında değil, konuşarak farkediyorlar. Consumer goods classification BtoC market: Convenience product: Customer usually buys frequently with min. Of comparison and buying effort. Low price. Widespread distibution. Convinient locations. Mass promotion by the producer. Toothpaste magazine, laundry detergent. Shopping Product: Customer is in the process of selection; quality price, style. Higher price. Selective distribution in fewer outlets. Advertising and personal selling by producer and reseller. Television, furniture, clothing.Specialty Product: unique characteristics or brand identification, buyers make special buying effort. High price. Exclusive distribution in only one or a few outlets per market area. More careful targeted promotion. Luxury goods, Rolex etc. Unsought Product: Customer does not know or know about but does not normally think of buying. Price varies. Distrbution varies. Aggressive advertising. Personal Selling. Life insurance. Product Differentiation: Product form, feature, performance, style, design...
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...A successful brand is the most valuable resource a company has. In fact, one authority speculates that brands are so valuable that companies will soon include a “statement of value” addendum to their balance sheets to include intangibles such as the value oftheir brands. Brands are used as external cues to taste, design, qualify, prestige, value and so forth. In other words, consumers associate the value of a product with the brand. For example, the value of Kodak, Sony, Coca-cola, Toyota and Marlboro is indisputable. One estimate of the value of Coca-cola, the world’s most valuable brand, places it at over $35 billion. How does a brand create value to the customer? Why do certain brands have more value than others? Naturally, companies with such strong brands strive to use those brands globally (extend them). The purpose of this paper is to review literature on the core associations ofbrands used to position brands as strategies to create competitive advantages. 1.1 Meaning of a brand and Its Importance A brand is a distinguishing name and/or symbol! intended to identity the goods or services of either one seller or a group of sellers, and to differentiate those goods or services from those of competitors (Aaker, 1991; Stanton, 1994, and Kotler, 1996). A brand thus signals to the customer the source ofthe product, and protects both the customer and the producer from competitors who would attempt to provide products that appear to be identical. Ancient history provides...
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