Company Name and Image in the Various Target Markets - Assignment Example

Company Name and Image in the Various Target Markets Introduction Branding is one of the most known buzzwords in today’s marketing and especially competitive business contexts. A strong brand plays significant roles with every aspects of a firm’s relationship with its customers. A large number of companies worldwide dominate in the market and achieve greater success because of its strong brand where as other companies fail to build brand loyalty and thence to achieve marketing goals as well. This report outlines how a company’s name and image can be effectively communicated to various target market with an example of Hudson Coffee. This paper examines how brand image and marketing messages are integrated and consistent and analyses how brand image and brand loyalty are connected with integrated marketing communication program. Company name and image being communicated to the markets A very basic and strategic decision in marketing a product is branding so that an organization uses a name, phrase, image, design, symbol or combination of these to identify its goods or services and to distinguish them from that of competitors (Kerin, Hartley and Berkowitz, 2005, p. 299). Communicating the branding message to the team, associates, customers, vendors and public in general over and over again can establish the brand. Effective way of communicating the brand name, brand image and brand messages plays vital role in determining whether the brand can be positioned in customers’ mid or not (Ferrell, 2008, p. 38). Brand identity and equity are closely related with integrated marketing communication, a comprehensive plan to evaluate strategic roles of various communication processes like advertising and sales promotion. According to Belch and Belch (2007), by positioning a favorable as well as strong brand name and image through effective communication can help a company build and maintain the brand identity and brand equity. Strong brands can influence the premium price from the customers and therefore a strong brand has always been considered to be a very significant asset like patent and copyright (p. 15). There are various modes of communications that can be used to reach customer to inform them about the company or its brands. Utilizing these various types of communication channels in an effective way is a critical stage in integrated communication approach. Belch and Belch (2007) emphasized that marketers have to find right combination of communication tools and to define their roles in a way that how they can be used in order to apply integrated marketing communication approach in a business (p. 15). Major tools for communicating the brand Belch and Belch (2007) identified advertising, direct marketing, internet marketing, sales promotion, public relation and personal selling as basic tools for promotional strategies that help communicate the brand name and image of a company (17). Advertising is spreading of information about the company, its brand, image and brand messages to the customers so that they may be tempted to place the company or its products in their preferences (Clow and Baack, 2004, p. 250- 252). Advertising through the media of Television, Radio, Internet, Newspaper are best known for developing and communicating brand to the targeted customers. In order to reach different targeted market, advertising media are to be selected accordingly. Direct marketing, as one of the fast growing communication tool in the US, is when the company communicates its brand and branding messages directly with targeted customers. It is thus a very effective way to reach target markets. Direct marketing includes a variety of activities like data base management, direct selling, telemarketing, internet etc(Belch and Belch, 2007, p. 18). Marketing through the interactive media like internet and mobile is another effective tool for communicating brand name and image to different targeted markets. Sales promotion methods like couponing, sampling, offers and lucky draw are some of the communication tools that can help a company position its brand in customers’ mind. Through public relation of non-personal communications and personal selling in which there is person-to-person meeting, a company can reach its various targeted market groups in order to communicate its brand name and image. The case of Hudson Coffee Hudson Coffee, one of the leading coffee marketers in Australia, has been highly successful in creating brand equity and brand loyalty in a way that customers find it a unique taste and extremely different from other coffees available in the market. The company has been successful in developing a strong brand and reputable name through quality services as well as great products. Its marketing department continued to develop its brand through public relation, advertisement and promotions (Hudson Coffee, 2010). Hudsons Coffee has successfully implemented integrated marketing communication program as it used right combination of communication tools like advertising, promotion and interactive media to reach its target market. Belch and Belch (2007) emphasized that many websites are designed to reflect the brand image that a company wants to portray in the market. Internet has recently become a very successful and highly effective integrated marketing communication tool for communicating the brand (p. 474). Hudsons Coffee’s website provides best look for its brand image as well as it facilitates online shopping that is a powerful tool of promotional strategy and for communicating brand to the customers. Brand Elements Brand elements are those trade-makeable devices and strengths of a product, serving to differentiate and identify that product from other similar products in the markets (Kotler, p. 161). Brand elements are of greater significance to any product or service brand because consumers would be able to think and feel about that product only if they know the elements of the brand. Kotler (nd) emphasized that consumers assume or infer certain valued associations and responses through the elements of the brand (p. 161). Heding, Knudtzen and Bjerre (2009) suggested that a number of important dimensions are to be considered when choosing and deciding of the brand. The brand name should be easily read because, among a large number of similar products, customers will have appeal, for instance being in a supermarket, to those brands that are easily read as well as easily recognizable (p. 105- 106). As far as Hudsons Coffee is concerned, it is clear that the brand name is easily memorable, readable and recognizable. When they come across a number of coffee products, Hudsons will be easily recognizable and thus they will rate, positions and value it among other similar brands. Clow and Baack (2004) argued that two most important elements help establish a brand of prestige. One is that brand name must be promoted through repetitious advertisements and in order to do this, brand name must be appropriate. For example, Coca Cola brand has long been repeatedly shown in a variety of advertisements. The second is that brand name must be associated with its prominent characteristics (p.37). According to Kerin, Hartley and Berkowitz (2005), the major elements of a brand are 1) the brand name should suggest product benefits, 2) the name should be memorable, distinctive and positive, 3) the name should fit the company, 4) the shouldn’t have legal or regulatory restrictions and 5) the brand name should be simple and emotional as well (p. 303). As shown in the figure, Hudsons Coffee’s brand is quite stronger as it is easily recognizable for the customers, easily memorable, meaningful and so on. For example, Nike has a distinctive ‘swoosh’ logo, a strong slogan of ‘Just Do It’ and a mythological NIKE name based on Goddess of victory (Kotler, p. 161). From the above literatures, it can be concluded that a strong and successful brand is one which must have few elements. These elements can play vital role in marketing communication because, if the brand chosen is not easily memorable, not recognizable and not meaningful as it should be, the marketed will have greater burden on marketing communications and also on getting customers’ attraction. Apart from memorable, recognizable and meaningful elements that are discussed earlier, Kotler suggests Likeable, Transferable, Adaptable, and Protectable as other important brand elements. The brand will be likeable if it is appealable to the customers. the brand can be transferable if the company is able to address new products or new goods being introduced or newly designed under the existing brand and for this purpose, the existing brand must be appropriate. The brand will be adaptable if it can be updated. The brand can be said to be protectable if it is free from legal troubles as well as not easily copied and infringed by others (p. 161). Brand image and marketing message: Integrated and Consistent The underlying logic behind integrated marketing communication program is delivering the marketing message to the customers about the company or brand name or brand image (Belch and Belch, 2007, p. 24). Delivering marketing messages can be considered to be an integral part of branding strategy as well. A company can achieve brand image through ongoing delivery of marketing messages through various methods of communication. The message to be delivered to the customers is about the company, its brand and branding strategies. It shows that how interrelated and integrated are brand image and marketing message. While developing integrated marketing communication, a business organization may co-ordinates among various promotional elements like sponsorship, word of mouth, direct selling etc. The message to be delivered to the customers and the brand image are integrated as well as consistent. Inconsistency in marketing message and brand image can cause brand failure. Conclusion This piece of research work has outlined various methods of integrated marketing communication tools like advertising, sales promotion, direct selling, public relation and interactive media that can be used to communicate brand name and image of a company to its customers. This paper detailed major communication tools that have been applied by Hudsons Coffee including internet marketing, advertising etc. References Belch G.E and Belch M.A (2007), Advertising and Promotion: An Integrated Marketing Communication Perspective, Seventh Edition, McGraw Hill. Clow K.E and Baack D (2004), Integrated Advertising, Promotion, and Marketing Communications, Prentice-Hall, Perason Education Inc Ferrell M (2008), Ultimate Breakthrough Planning: The Business Funnel Approach, Illustrated Edition, Constellation Heding T, Knudtzen C.F and Bjerre M (2009), Brand Management: Theory and Practice, Illustrated edition, Taylor & Francis Hudsons Coffee (2010), Why Hudsons Coffee: The Hudsons Coffee Edge, Retrieved from http://www.hudsonscoffee.com.au/Franchise/WhyHudsonsCoffee/tabid/248/Default.aspxKerin R.A , Hartley S.W and Berkowitz E.N (2005), Marketing, Eighth Edition, McGraw Hill Irwin Kotler (nd), Framework for Marketing Management, Third edition, Person Education India Read More