Branding,Competitive Analysis, Apple iPhone 5 and Microsoft Windows - Assignment Example

Week Three Questions Branding is an important part of any business because it is necessary to secure a loyal group s for the ongoing success of the firm. Owners of new small businesses may find it difficult to brand their business during the initial stages because they do not have an existing customer base. They also may not have the funds required to brand the firm appropriately. One common technique used is by offering dramatic discounts or free stuff. Consumers will always be attracted by these techniques, but the key is to secure them as a long-term customer once they have been hooked on the brand.

Advertising also plays a key role in the branding of any small business. For a business to develop a popular brand identity, it is important to reach as many consumers as possible. Some small business owners may not be able to do this on a large scale, so it is important that they get out into the community and get exposure for the brand. Word of mouth marketing is a great way to brand a firm because the cost is very little compared to the potential benefits that can be received. It is important to create a brand because customers are the lifeblood of any firm and they need to find something to identify with a brand so they will feel compelled to stay loyal to the brand. 2) A competitive analysis should almost always be done before making any key marketing decisions.

If a company is going to spend a significant amount of money on a new marketing campaign, then it is important to ensure that those funds do not go to waste. This can be avoided by establishing a clear target market to go after and then using advertising techniques to reach that market. A competitive analysis can also show a company where they can improve in terms of efficiency and effectiveness. Surveys are most commonly used before making any marketing decisions because they are a good way to gauge the current feeling of the market.

It makes sense to understand what the customer wants first before trying to tailor a product that meets their needs. One disadvantage to carrying out a competitive analysis is that it will likely require a lot of initial investment. For new firms or those that are struggling to survive, this cost may be out of reach and could put the business under. Another disadvantage is that the company spends time and money focusing on the activities of competitors instead of what the company can do to improve. 3) The Apple iPhone 5 is one product that I have recently purchased.

Although the iPhone 5 may just appear to be a phone to outsiders, the reality is that Apple has set standards for itself in terms of giving the customer the full Apple experience. Of course the iPhone 5 is made from designs in America and production in China, but the product goes so much further than that. The production and labor cost of the iPhone 5 is only less than $200, but Apple is able to price the product much higher than this because it is offering a product that makes the customer feel valued.

For example, as a customer I was pleased when I went into the Apple store to buy the product and I was treated very nicely. The layout of the whole store made me feel like I was a valued customers and the customer service representative answered all my questions about the product. I was a little unsure whether I should get the newest model, but the store manager explained to me why the new model is so much better. I was convinced by this argument that the iPhone would be so beneficial to me. Another component of the total value of the product was the fact that it was warranty free for one year.

The store manager said that I could bring the product in at any time and they would send it away to be fixed free of charge. 4) Microsoft Windows operating system is surprisingly popular among many computer users, yet most of them would despise Microsoft as a company. The reason is that consumers are able to recognize that the Windows operating system is the best out there. Microsoft as a brand has struggled over the past few years, but sales of the Windows operating systems have remained high.

The reason is that the product of the Windows operating system has almost become detached from the Microsoft brand and has almost become a brand in itself.