The name of the organization can also serve as a brand. The brand value reflects how a product's name, or company name, is perceived by the marketplace, whether that is a target audience for a product or the marketplace in general (clearly these can have different meanings and therefore different values)…
Download file to see previous pages...
A brand is also considered to be a trademark or a product line. It is a distinctive name, which addresses, or identifies, a product, service, or a manufacturer. People purchase a certain brand in order to acquire a distinctive category and to show ownership of the brand that they favour.
Companies must develop a marketing strategy. This process consists of coming up with a foundation (a basis) in which to work from. By creating a marketing strategy, companies can create an identity. This identity will be the trademark that used repeatedly in all communications in order for the company logo and message to be known by others. A company's brand, or otherwise known as a trademark or logo/motto, helps to differentiate the company from others and to provide uniqueness. It is suggest that there are four marketing constituents that must be considered and understood when creating a marketing strategy. The marketing components offer the foundation and basis for the brand strategy. The four components are as follow (Developing Your Brand Strategy,
To begin developing a marketing strategy, a company must first define its brand. Defining a brand creates a framework or foundation for every other factor to build on. Adidas' marketing strategy was to focus on the rapidly growing sector of sports and retail. The company does not market sports but markets through sports. Although the two are quite similar and connected by the use of sponsors, marketing through sports involves employing communications in the communication process. An example is to market through an even such as the World Cup. This works tremendously as organisers of the event usually allow only one sports company to represent them (i.e., the official sponsor of the World Cup). Other companies are doing the same thing by incorporating Adidas into their marketing strategy. Even companies that typically do not have anything to do with sports are incorporating Adidas in delivering their brand. An example of this is when Mastercard, which has nothing to do with sports and athletics, uses Adidas in their commercials and other avenues of marketing because it recognises the powerful effects that television and football has on the public. (Hare, 1999.)
Adidas also delivers the message that a sport product can also be an everyday consumer product. Sportswear is as fashionable as it is function-able. Branding is extremely important for Adidas as they market to the retail sectors. Polo shirts, track suits (or warm-up suits), and trainers are amongst the products that are popular with households.
Knowing the target market is very crucial in determining the brand and all the steps that are required in doing so. A company's target market comprises of the people, which the company wishes to gain the attention and business of. Adidas defines their target market by characteristics such as psychographic, demographic, and geographic. With each target market, the marketing strategies change a
...Download file to see next pagesRead More
Cite this document
(“Strategic Marketing Case Study Example | Topics and Well Written Essays - 3000 words”, n.d.)
Retrieved de https://studentshare.org/business/1531214-strategic-marketing-case-study
(Strategic Marketing Case Study Example | Topics and Well Written Essays - 3000 Words)
“Strategic Marketing Case Study Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.org/business/1531214-strategic-marketing-case-study.
At the same time, company also believes that diversification of products would help exploit the gap in the market. The company achieves its objectives through well defined policies in the each of the major functional areas as below: a. Marketing and sales Aggressive marketing and sales campaigns of the company have been one of the strongest elements of success within the industry.
Starbucks has realized that in order to move ahead within the social and cultural spheres, it must draw a line as to how it will tap the opportunities that come by and how it will cater to the needs, wishes and desires of its intended target audiences time and again.
Effectively, the company started investing in acquiring business that gave the company high-profit margins instead of low-profit margins. In this case, the company had realized that the products that gave the company low-profit margins were not centered on fulfilling the needs of the customer.
This reveals that the company has the potential to understand the evolving nature of customer needs and to modify their products according to the needs of the customers. During a time when the Premium Peter segment acquired the means to afford a high quality product, the company has been able to respond with a product that matched the profile of the consumers.
However, the external environment for the company is turbulent with Sony and Microsoft emerging as strong competitors with the Play Station and Xbox respectively. Whereas Nintendo has traditionally targeted the young generation engaged in fairly simple console-based games, Sony has continually focused on developing and sustaining high quality.
After the aforementioned analysis, it is recommended that the restaurant chain maintain its current differentiation strategy. Also, it is identified that the company should increase its net profit, establish presence in developing economies like China, innovate new products, and enhance customer satisfaction through the extension of excellent service.
The evaluation will also investigate how w effectively has REI used information systems and the Internet to meet its business strategy goals and maintain a competitive edge The evaluation aims to answer if REI is capable of climbing higher with Networking and the Internet
However, Varey (2001) postulates that integrated marketing is a paradigm shift towards more personalised, customer-oriented, technology-supported marketing systems.
Global marketing is marketing on a world wide scale reconciling or taking commercial advantage of global operational differences and opportunities in order to arrive at predefined organizational objectives while creating uniqueness.
Having experienced the SARS, July 7th, 2005 terrorist attack, and the Bird Flu, which have slowed down the UK economy and had an adverse effect on the hotel industry, there are now clear signs of recovery. This report will first examine the UK based Thistle Euston hotel market, discuss the main industry players and show the relative significance of key issues.