...Product and Brand Management Ikea Assignment 1 Is Ikea a successful global brand? Why has it been successful? Ikea is a very successful global brand, not because it has 226 stores in Europe, Asia, Australia and the United States with 410 million shoppers a year, not because other global brand like Wal-mart stumbled in Brazil, Germany and Japan but for Ikea’s unique cultural branding that merges the value and fashionable design to ensure the creation of an affordable contemporary household goods (not just the furniture with 5-10% sales in each country with Ikea stores) for the middle-class. This uniqueness of its corporate DNA is the main reason why the Ikea is so successful globally. The frugality of the founder of the Ikea with his desire to create “better life for many”, these two tenets are deeply embedded into Ikea’s corporate DNA. The frugality combining with the obsession with design forming a unique brand that became a global cult brand. As a global brand Ikea stands for 1) Unique household products with contemporary design, affordable prices that will inspire consumers 2) A gathering place the global tribes that are sensible in cost, design, and green environment. 3) Egalitarianism. The Ikea as a corporation is very flat, the executives performs first-line employees’ job in an “Anti-bureaucracy Week” 4) High Competitive. Constantly dropping the price (2-3% annually) to provide the best values for customers (consumers). What is the relationship between Ikea’s...
Words: 1241 - Pages: 5
...Product and Brand Management “Lenovo: Building a Global Brand” 1 What should Lenovo’s overall corporate brand positioning and corporate branding strategy be in global markets? Why is developing a global corporate brand important to Lenovo? The needs to be an international company: To survive and succeed in the global business environment, Lenovo has no choice but to become an international firm in the PC business. In the Lenovo’s financial report we can observe the big differences between fiscal year 2005 and projected 2006’s taxes requirement of 35 million US dollars to projected taxes of 632 US million dollars. With China joined the WTO, Lenovo surely would lose its advantage of government intervention (tariff or other restriction of other PC companies, ex. HP, IBM) to ensure its market share and profitability in Chinese Market. Lenovo’s market share of 30% in 2001 was number one in the Chinese market, but Dell computer, upstarts, as well as PC clones also posted strong challenges to its leading market share. To grow the company, Lenovo would have to expand to the worldwide market that it didn’t have. With the acquisition of IBM PC division announced in December 2004 gave Lenovo a great opportunity to expand its territory outside Asia. To leverage this great acquisition, Lenovo needed to establish itself as an international company that could convert itself from a PC brand was little known globally to a company that not only can succeed in innovation to carry the legendary...
Words: 1981 - Pages: 8
...Brand and Product Management Scenario Analysis paper Kenneth Proctor BRM/353 February 8, 2016 Michael Ricco Brand and Product Management Scenario Analysis The marketed Brand which I have chosen is Apple and the way in which they are marketed in different countries is more of a one size fits all or standardized approach, this is something Apple uses both domestically and internationally. When apple brings out new devices, they do not customize their phone in terms of features and looks. Using Standardized sizes across all regions, the same range of products for all countries, and no visible customization, with the exception of the power source, pricing, and carrier specifics. Apple utilizing the standardized approach has certainly had its benefits. One in particular was establishing a global brand with a strong identity, which is something that has worked for Apple. However, this does not mean that apple understands the requirements for cultural understanding, and cultural understanding is a big advantage for any company to be involved in global branding. This is also part of a brand living up to the Ten Commandments of Global Branding. The ten commandments of global branding which consist of a brand being known around the world. The first step for a brand to obtain this goal is to research the global branding marketplace, which is made up of many countries and regions, while understanding similarities between them. Also understanding the importantance of investagitnting...
Words: 677 - Pages: 3
...Introduction Business management has experienced a number of changes after the significant effects of industrial development. Developments in technology made quality to be easily accessible compared to previous eras and hence, the standards of product purchase switched from the ‘quality’ to ‘design’ as customers, who buy products, increased their expectations from those products. Therefore, 21st century’s business management happened to face the challenges of ‘design’ and ‘brand’ by which they have to stand out their products amongst their peers. In other words, ‘design’ and ‘brand’ have become emotional satisfaction criterion and core components of companies in today’s competitive markets. That is why effective brand identification, which is expected to be established and preserved by the brand strategist, and it is a number of distinctive connections of ideas related to the brand, is essential for market triumph in the competitive retail markets (Kim & Lee, n.a). Part 1 Brand Identification and Design The role of branding for organizations has showed a significant change correspondingly. Branding used to be the symbol of ownership in the past, and then it started to be seen as the intellectual statement of customer benefits. But today, ‘brand’ actually symbolizes the company vision and its strategic positioning in the market. Therefore, the concept of brand is not only ‘the logo on the product’ anymore, but also is the symbol of the philosophy, understanding and vision...
Words: 2077 - Pages: 9
...Brand management begins with having a thorough knowledge of the term “brand”. It includes developing a promise, making that promise and maintaining it. It means defining the brand, positioning the brand, and delivering the brand. Brand management is nothing but an art of creating and sustaining the brand. Branding makes customers committed to your business. A strong brand differentiates your products from the competitors. It gives a quality image to your business. Brand management includes managing the tangible and intangible characteristics of brand. In case of product brands, the tangibles include the product itself, price, packaging, etc. While in case of service brands, the tangibles include the customers’ experience. The intangibles include emotional connections with the product / service. Branding is assembling of various marketing mix medium into a whole so as to give you an identity. It is nothing but capturing your customers mind with your brand name. It gives an image of an experienced, huge and reliable business. It is all about capturing the niche market for your product / service and about creating a confidence in the current and prospective customers’ minds that you are the unique solution to their problem. The aim of branding is to convey brand message vividly, create customer loyalty, persuade the buyer for the product, and establish an emotional connectivity with the customers. Branding forms customer perceptions about the product. It should raise customer...
Words: 497 - Pages: 2
...Global Brand Management – Nike’s Global Brand Dr. Deanne Larson e-mail : larsonelink@aol.com Abstract: The purpose of this paper is to outline and analyze the ingredients of a successful global brand which has and can continue to sustain its global marketing goals. The brand analyzed in this paper is Nike, one of the top sporting goods manufacturers in the world. As part of the analysis of Nike’s global brand, a proposed brand strategy and supporting marketing program will be recommended using the components of Interbrand’s rating and ranking evaluation. The analysis will use components of Interbrand’s approach as the basis of understanding Nike’s current strategy and standing and be used as input into the recommended brand and marketing strategy. Keywords: Interbrand, brand market strategy, global marketing, brand association, global brand management Reference: Reference to this paper should be made as follows: Larson, D. (2011) “Global Brand Management – Nike’s Global Brand”, The ISM Journal of International Business, ISSN 2150-1076, Volume 1, Issue 3, December 2011. Biographical Notes: Dr. Larson is an active management practitioner and academic and a PhD candidate at the International School of Management. Dr. Larson’s other doctoral degree is a Doctorate of Management in Information Technology Leadership. Her doctoral dissertation research focused on a grounded theory qualitative study on establishing enterprise data strategy. She holds Project Management Professional...
Words: 6031 - Pages: 25
...aggregate patterns of behaviour...................................5 1.3 Accelerated modification and diversification of the product portfolio………………..….6 1.4 Pervasion of automobiles with digital technology..............................................................6 1.5 Increased pressure for innovation and flexibility in development and manufacturing…...6 1.6 Strategic levers……………………….................................................................................7 1.6.1 Brand management...........................................................................................................7 1.6.2 Customer relationship management……………..............................................................7 1.6.3 Core competency management…………………….........................................................7 1.6.4 Software management.......................................................................................................7 1.6.5 Quality management.........................................................................................................7 1.6.6 Product development management...................................................................................7 1.6.7 Expansion management....................................................................................................8 2. Brand Management Process In...
Words: 3077 - Pages: 13
...Protegrity Brand Management By………………………… Presented to Dr. /Prof……… Course…………………………… December 04, 2011 Protegrity: Refreshing Life Table of Contents Introduction to the company and the brand 3 Brief description of the selected company (Brand) 4 Introduction to Brand and Designing a Branding Strategy 5 Branding in relation to consumer physiologically and socially 6 Brand development and Justification of brand development decisions 7 The impact of the Internet and Advertising on the brand development 8 Co branding, Brand Damage and brand confusion in relation to the selected company/brand 9 Co branding and its impact upon the selected brand/company 10 Internationalisation of branding and justification of the selected company 10 Summary 11 References 12 Introduction to the company and the brand This paper outlines an imaginary company created by the author in order to show how the company can develop brand strategy; this includes development of the logo and brand name. Explanation of the basis of the brand valuation, creation and justification and demonstrating the various facets of a national brand and the internationalization of that brand, the Company selected and the name and brands associated with the company follow here under. The company will be involved in development of, computers, associated software, smart phones, and innovative music player media. The company which in this paper will be referred to us Protegrity will operate from London...
Words: 3010 - Pages: 13
...The Concept of Brand Space Introduction Brand management faces an inconsistent challenge for executives who must wrestle a course between constancy and change; fostering the brand as it develops over time, and maintaining its up-date and carrying on its relevance, but safeguarding its core connotations. If branding is regarded as sharing significance of the intangible benefit of the company, brand managers therefore must select development opportunities to improve brand equity whereas expanding its meanings while preserving its ‘semiotic, cultural, and representative value’. Brand extensions answer this duty. Success of brand extensions was broadly attributed to the authenticity between the parent brand and the extension, authenticity that should maintain brand sets and mode, respect its heritage, save its spirit, and avoid brand misuse (Spiggle et al, 2012). In addition, because business environment is in perpetual change and converted into more global, local and even regional brands should face same evolution, thereof, the approach in managing brands should be more holistic, and the future of brands management should move toward a multidimensional view (Uggla, 2013). The failure in brands extension, the global environmental change, and the increasing markets competition and transformation were the main reasons that drive Berthon, Holbrocok, and Hulbert (2003) to expose some major mistakes committed by companies in managing their brands, and to develop a framework...
Words: 1557 - Pages: 7
...Customer Experience as a Means of Brand Differentiation Key Words: customer experience, branding, differentiation, experiential platform. Esma Cavusoglu Postal Address: Kure İletisim Grubu Elmadag, Cumhuriyet Cad. Pegasus Evi 48/3B Taksim 34367 Istanbul / Turkey Customer Experience as a Means of Brand Differentiation Abstract In today’s customer–dominated business world, there exists the “brand indifferentiation” problem that concerns the difficulty of the customers to perceive the differences between a certain brand and its competitors. This situation calls for a close look at the relationship between the consumer behaviour, branding and differentiation. Taking into consideration the proliferation of products, increasing information flow through digital technologies, fast commoditization and competition in today’s world, differentiation and brand positioning relying on traditional frame, have no longer been resulting the expected performance. Constitution of brand differentiation in the minds/hearts of customers entails to re-evaluate the meaning of consumption for consumers, how consumers make their choices, what the brand the consumer prefered means to him, and what can make a brand different than the others for a customer. In this paper, these issues are examined and the solution to indifferentiation is linked with the concepts of “experience” and “experiential marketing”. Key Words: customer experience, branding, differentiation, experiential...
Words: 2501 - Pages: 11
...BRAND MANAGEMENT Student: Drobnjak Anja, K-5050 Professor: Prof. dr David Jones Warsaw, 22.01.2014. Contents Introduction 4 Branding 5 The Laws of Branding 6 Branding and its components 8 Brand implementation 9 Brand awareness 9 Brand recognition 10 Brand equity 10 Brand elements 11 Brand Bubble Trouble 12 Strategic brand management 13 Adidas - a brand that identifies with its performance 15 Coca-Cola as Number One 17 Disney world 18 Conclusion 18 Abstract One of the most valuable intangible assets of a firm is its brand, and building a strong brand is both an art and a science. It requires careful planning, a deep long-term commitment and creatively designed and executed marketing and management. This paper will try to show that brand management is a communication function which includes analysis and planning on how that brand is positioned in the market, which target public the brand is targeted at and maintaining a desired reputation of the brand. Attention will also be directed on the tangible elements of brand management such as a product itself; look, price, the packaging, etc. It will include some components of brand management, laws of brending, strategic brand management and its importance, and also examples of well known companies, in order to show nowadays rising role of brands and made some conclusions. Key Words: brand management, brand, strategic brand management, brand...
Words: 5941 - Pages: 24
...Brand Management (MKT624) VU Lesson 1 UNDERSTANDING BRANDS – INTRODUCTION Brand management as one of the marketing functions has been around for as long as we have known professional marketing. But, it has been a part of the traditional marketing approach in which many functions of today’s brand management were performed in a spread out fashion by the marketing manager and a combination of his team members like the sales manager, the advertising and communications manager, and the marketing administration manager to name a few. The terminology of brand management was not used. Brand management, in its present integrated form, has come into limelight and focus over the last 20 years. The functional execution has undergone transformation in terms of its description as a substantive job under one head. This implies that the overall functions of brand management are full of substance and therefore are described specifically under the head brand management and not as disparate parts of the overall marketing functions. In other words, brand management has not lost its primary roots that are well-entrenched in marketing; it only has acquired explicitly defined dimensions within which the function operates. To further elucidate the point, there have been functional adjustments within the overall marketing functions only to bring into clear and sharp focus the specific functions and job of brand management. Brand management now presents itself as a distinct part of an integrated...
Words: 74458 - Pages: 298
...Term Paper on Brand Management: Brand management is the application of techniques of marketing to the definite product, product line or brand. Brand management is supposed to create the system of values concerning the certain product of brand so that creating its image. Branding is the process of the creation of the positive client’s attitude towards the product with the help of the advertisements, wrap, trademark and other elements which make the product different between the similar goods and services produced by other companies; so that it is a creation of the attractive image. The popularity of branding is very high nowadays because every businessman wants to make his firm profitable and his core idea is to demonstrate the exclusiveness of the product on the national and international markets. Brand management is successful only if the company cooperates or involves serious advertisement companies for the creation of the perfect image of the firm. We can help you with writing a term paper about Brand Management now! It is not a secret that if the company donates much money into advertisement (with its persuasive techniques on the human mind), it will be profitable on the market for a very long period of time. Moreover, successful brand management is achieved through the three important facts: the creation of the rich history of the product; attention to the national culture; the current realities and predictions for the perspective. Obviously, the majority of people...
Words: 539 - Pages: 3
...of the repositioning of the “BMW Mini” brand C. Simms and P Trott . Business School, University of Portsmouth, Portsmouth, UK Downloaded by Myongji University At 05:37 14 May 2015 (PT) Abstract Purpose – This paper aims to adopt a consumer behaviour perspective and investigate the extent to which BMW has repositioned the new “Mini”. It builds on a previous paper that explored perceptions of the “Mini” brand. Design/methodology/approach – The study adopted a two-stage approach to data collection, consisting of 66 in-depth interviews with a cross section of important stakeholders with high brand awareness and knowledge. The paper develops a conceptual framework and offers a novel way for firms to consider the effects of their repositioning strategies on consumers perceptions of a brand. Findings – The findings reveal a substantial repositioning of the brand’s functional appeal, moving away from the car’s price as an appeal towards product build quality. Furthermore, the Mini’s symbolic appeal, which is based on its fun and sporty image, has largely remained in place. Practical implications – Firms need to recognise the importance of repositioning at both the symbolic and functional level. Originality/value – The paper presents a novel conceptual framework for viewing repositioning strategies and presents evidence of repositioning at both the functional and symbolic level. Keywords Brands, Consumer behaviour, Cars, Brand image Paper type Research paper years)...
Words: 10657 - Pages: 43
...Competitive Space 7 * Summary 8 * Reaction 10 * Recommendation 11 * Conclusion 12 III. Chapter 9: Strategic Brand Management 13 * Summary 14 * Reaction 16 * Recommendation 17 * Conclusion 18 IV. References 19 1 2 SUMMARY Business and marketing strategies are being altered and renewed in a wide range of companies by executives in their efforts to survive and prosper in an increasingly complex and demanding business environment. Choosing high performance strategies in this environment of constant change requires vision, sound strategic logic and commitment. Market-driven organizations develop closely coordinated business and marketing strategies. Executives in many companies are reinventing their business models with the objective of improving their competitive advantage. These changes include altering the market focus, expanding product scope, partnering with other organizations, outsourcing manufacturing and modifying internal structure. Corporate strategies includes: (1) defining the corporate mission and setting objectives, (2) determining strategic business units, and (3) establishing strategy guidelines for long-term strategic planning of the corporation and its business units. Top management must select the corporate strategy to move the firm towards its objectives....
Words: 2952 - Pages: 12
