Issues Related with Branding - Coursework Example

BRANDING Introduction A brand is the distinctiveness and uniqueness of a product, trade or service with which an organization that produces the said brand product or service identifies with (Low & Blois, 2002). A brand can present in many shape and appearance namely a symbol, a name, an emblem, and in the color blending (Mudambi, et al., 1997). An effective brand will not only convey a lucid message as intended by the producer/ manufacturer, validate the producer’s credibility, and help the potential target markets develop an attachment and a bond with the organization, products and services, but also, empower and promote the target market’s morale and solidify the loyalty of the existing and potential customer (Kevin & Don, 2003). This report highlight 16 essays on issues related with branding. Can every brand achieve resonance with its customers? And why Every brand can achieve brand resonance with its customers. This is because brand resonance for target market is, varied for every brand and there is always a brand for every consumer/ user. Brand resonance refers to how effective the product and service produced by an organization connect or bond with the target market officially and nonchalantly (Nagle & Hogan, 2005). This means that developing brand resonance is, based on integration of the message content into what the target market’s thoughts and being is (Keller, 2008). This is, achieved by ensuring that the marketing strategies and marketing techniques utilized by the organization do not only leave an impact, but elicits the emotions of the target market. Since every brand can achieve resonance with its customers, it has to ensure that the marketing messages are clear, are easy to recall, and are uncomplicated, entertaining and direct to the point (Nagle & Holden, 2002). The marketing campaigns should be, implemented in such a way that the target market relate the ads to the brand and do not merely remember the ads for the reason that they were exciting and enjoyable (Keller, 2008). This can be, done by use of persuasive imageries, alluring figures and use of iconic features. A brand with high levels of brand resonance the building blocks of brand resonance are promoting salience, development of persuasive and exciting video and photo images that depicts the brands’ points of parity and difference, eliciting positive feelings that results to positive judgments, where target markets develop relationships and connection with the products, hence, deep-rooted customer loyalty (Thompson, et al., 1998). Brand resonance creates brands that initiate meaningful imageries in the lives and thoughts of target markets, which establishes brand differentiation, hence, developing a positive control on consumer purchasing behavior as depicted in the Consumer Based Brand Equity models (Mjumdar, 2009). A brand that has registered high levels of brand resonance by use of exciting, enjoyable, memorable and created a unique marketing campaign is the E-Trade baby adverts. The brand has been able to develop sturdy correlation between the brand and its target market (Keller, 2008). This has generated stable customer loyalty and has reduced its susceptibility to competitive market forces. The marketing ads generated a huge buzz in the social network sites, internet and in the YouTube. The E-TRADE baby adverts connected emotionally with the target markets, they were lucid and memorable and showed explicit E-TRADE branding. The CBBE Model The Customer Based Brand Equity model suggests that the strength of a brand is, founded on what the target market experiences are with the brand, what they have emotionally felt, seen or even heard from other people concerning the brand. Therefore, strong brands have customers who have the right experiences with brand; they have a connection with the brand in terms of attitudes, insights, sentiments, notions and imageries (Chase, et al., 2006). An example of brand that has utilized the CBBE model is the Lance Armstrong’s LIVESTRONG Wristbands. The CBBE model is constructed on four levels which seeks to answer four branding questions namely who are you, what are you, what as a customer do I think and feel about you and what type of relationships and how much of an association would I want to have with you (Aggarwal, 2008). By keeping this in mind, brand developers ensure they have created a proper brand identity, has established suitable brand meaning by creating the right image of the brand, ensuring the customer have the right experiences hence establishing positive thoughts and feelings through good brand performance (Hobbi & Martinez, 2008). Finally, there is need to develop suitable relationships between the brand the customer. This is, achieved by producing quality, credible, superior and considerate brands (Aggarwal, 2008). This leads to customer loyalty. Brand Salience- the depth and breadth of brand awareness Brand salience ensures that the brand is easily remembered, frequently evoked, in the mind and in the live of the customers. Thereby, the brand becomes the top of the mind brand to remember and identify. Brand awareness should not only remind the customers about a fun advert, but creates an association or an attachment in the mind of the customer and the brand’s name, emblem, color blending and signs and customers understanding what needs, hopes, expectations they have, that the brand seeks to satisfy (Chase, et al., 2006). Brand salience forms a baseline in establishing brand equity and provisioning the brand with brand meaning, by depicting the uniqueness of the brand from other brands existing in the market, and developing a strong image to influence the customer to pick it as a first choice (Sengupta, 2005). Depth of brand salience illustrates the ease of customers to remember and identify the brand. This is, realized by use of catchy, humorous, entertaining, informative, simple marketing campaigns and adverts. In the breadth of brand salience, it illustrates the variety of buying and usage circumstance in which the brand is, evoked in the mind of the customer. Effective brand salience therefore, the customer not only remembers the brand and makes adequate buys, but also, formulates different ways in which the brand can be, used (Keller, 2001). This means brand salience should occur at the right place and time. This means knowing when the customer thinks of the brand, where, and how frequently they do that and ensure, the brand is, remembered in consumption situations (Mudambi, 2002). This propels the usage of the brand and boots the capacity and quantity of sales. Brand Positioning As brands strive to remain viable and feasible in the market environments, they do so by not only developing strategies that depict gains, that are unique and lack in their competitor’s brands, but also in addressing the competitive structures of reference, points of difference and points of equivalence (Sengupta, 2005). In the viable structures of reference, the brand establishes the connections the customers employ to analyze the points of equivalence inclusive of brands in other associated categories (Chase, et al., 2006). Points of equivalence or parity refer to establishing the common values between a core brands with its competitors while point of difference are the features that distinguishes the brand from the rest and are important to customers (Michell, et al., 2001). In the shoe industry or Category, there are two main brands Nike and Adidas. Nike’s and Adida’s brand positioning is such that both brands have incorporated brand positioning concepts of satisfying the needs of their target market, establishing a strong self and social image and creating sensory and cognitive stimulation of the target market about their products. Nike brand positioning is, based on customer association. Customer association techniques by this brand are use of new technological solutions, quality and fashionable products, entertainment and commemoration of sports, utmost performance, self-empowerment and motivation, corporate social responsibility and becoming involved not only regionally but also internationally. Adidas brand on the other hand compare with Nike’s brand position in terms of offering quality performance and superior and valuable products, but contrasts in Adida’s low induction of innovative technology and low level of individual empowerment. The Nike’s brand mantra- Authentic Athletic Performance is illustrative of their brand positioning which is to offer originality, reliability, non-leisurely but athletic products and promote universal first class performance hence satisfying the needs of global best athletes such as Michael Jordan. Their target market is the global sporting men and women and also suitable for active people who do regular, personal trainings and gaming. Their brand positioning is correct though, there is a great need to offer non-athletic products only and shift to making leisurely products. Nokia’s Points of Parity (POP) and Points of Difference (POD) Nokia’s points of parity are creation of modern mobile and other electronic gadgets, and developing mobile phones that satisfy the communication needs of the customer. The use of modern technological solutions in mobile phone production is another point of parity. Among Nokia’s point of difference is in making phones that are consumer and business user friendly. There has been increased innovation of Nokia’s products, designs and making custom made, fun spirited products that satisfy present and future needs of the customer. Nokia points of difference are also in delivering persuasive and quality consumer solutions that joins fashionable devices with context-enhanced services. The brand combines the human perspective into mobile communication. For example in developing varied colored phones to suit the frame of mind, individuality and lifestyle of users. The varied categories of Nokia phones form another point of difference that includes entry, CDMA broad appeal, lifestyle products, and Vertu. Campbell’s Soups breadth and depth of brand awareness The Campbell Soups are, popularly known and consumed in the United States. A brand of the Campbell Soup Company founded in 1869, produces canned soups, and associated products. The depth of Campbell’s Soups brand awareness has focused on making the consumer market aware of the various soups available in the market. To allow ease for customers to remember the brand, the brand has previously, and, presently invested in massive advertising and marketing campaigns by using the entertaining and memorable Campbell kids who symbolized the identifiable soups and sponsoring the radio theater program Orson Welle’s Mercury Theater on the Air and changing its name to The Campbell Playhouse. In use of breadth brand awareness, the Campbell Soups, allowed Andy Warhol to paint his pop art on the soup cans. This allowed customers to think Campbell in varied situations, which not only promoted the Artists but the Campbell Soups brand. Presently, the Company producer has invested in campaigns geared towards making their consumers thinks of Campbell Soups in neglected usage opportunities such as taking the Campbell Soups as a side dish at meal times and using the cans to do other tasks. Building strong customer service commitments amongst employees can help a company to achieve POD This is very true. A company that invests in developing and implementing strong customer-centered services understand what the customer needs, hopes and expects from them. This allows the company to produce products and services that satisfy these specific needs (Kevin, 2001). Understanding the customer and developing good employee-customer relationships allows for continuous flow of ideas, on the best innovative ways to make the life of the customer easier. Through this generation and flow of ideas, a company is able to make products and services that are unique, are customer-centered and therefore, stands out from those offered by the competitor, hence point of difference (Keller, 2003). Customer-centered operations allows for a company to try out new things and it is in the trying out that a company develop increased number of points of difference, which enhances the company’s competitive edge which propels it to become market leaders by being first innovators, first movers and thereby register increased market shares (Kevin, 2001). Points of difference are, acquired by creating individual brand niche markets and taking advantage of the gaps in the market. Moreover, ensuring the products although similar to competitor’s offer something extra be it in terms of cost, efficiency, applicability, recognition, low risk, availability, observability, integrity, trustworthiness, and offering value for money (Keller, 2003). Mass customization, after-marketing and loyalty schemes Mass customization, after-marketing and loyalty schemes are marketing techniques that relate as management and producers of products and services to boost their sales volume, increase their market shares and at the same time keeping the customer in mind and as a priority, use them (McEnally & Chernatony, 1999). Mass Customization refers to developing products and services that are, personalized to suit a particular customer in high production scales and volumes, sold at a mass produced cost. This is, done by use of adaptable technological- production systems (Gregson, 2009). Mass customization merge the aspect of low costing in producing massively with flexibility of making custom made products and services (Zajas & Crowley, 1995). Therefore, offering an organization a tactical lead, financial viability and economic feasibility. After marketing on the other hand, entails a management putting in place structures, processes and mechanisms through which after closing the sale, the management is able to maintain customer loyalty, in order for the customers to come back and make repeat purchases (Keller, 2003). This is, facilitated by use of after sales services like offering guarantees, warrantees, offering subsidized maintenance and repairs (McEnally & Chernatony, 1999). This is closely associated with issuance of loyalty schemes. These are efforts to recompense loyal customers, and ensuring they come back for repeat business, which in turn is good for business (Gregson, 2009). A type of loyalty scheme is use of loyalty/ reward/point/ club cards. Loyalty cards allow loyal customers to access discounts or points from purchases that can be, redeemed later (Sharp & Anne, 1997). The three variables as discussed above are, meant to develop customer relationships, satisfy their needs and solidify customer loyalty. Different types of personalized marketing concepts Personalized or one-to-one marketing is production of products and services to suit each customer based on their tastes, preferences, needs, hopes and expectations (Rosenbroijer, 2001). Among types of personalized marketing concepts, include managing clients instead of managing products and services, combining customer differentiation with product differentiation, quantifying the customer share and the market shares and establishing economies of scope (Lorge, 1998). This can be, achieved by recognizing prospective customer, and understanding their needs and their worth to the organization (Peppers & Rogers, 1993). Moreover, relating with customers to know them, producing products and services that are custom made and establish constant contact with each customer (Wilson & Woodside, 2001). Among organizations, using personalized marketing includes Amazon. Com,NikeID, Printable Technologies, Smart Cars and Dell Computers among others. Difference between value pricing and everyday low pricing Value pricing is selling products and services to customers based on the value to customers irrespective of cost of production, competition, and market forces. Cost is, aligned with value offered. It is applicable in developing and managing products with value for specific customers. It relies on knowing how customers quantify value, by analyzing customer operations (Keller, 1993). For custom made products, prices is based on specific value offered such as number of consumers and the value per consumer, number of yearly dealings and the value per dealing, amount of taxes and the impact on taxes (Kevin et al., 2002). Alternatively, everyday low pricing retailers offer pledges to customer to offer them low-priced services and products without necessarily conducting offer/ sale price events (Kotler, 2000). By doing so, retailers spend less in promotion and advertising as customers relate them with low prices. Among organizations that successfully have used everyday low pricing are Winn-Dixie, Wal- Mart Supermarkets, Procter and Gamble, and Food Lion among others. Eight steps to create a better pricing strategy A price strategy should attain the organizations’ financial objectives, fit the veracity of the market and sustain brand positioning and be aligned with variables of marketing strategies (Keller, 2003). In creating a pricing strategy, start by establishing marketing strategy by conducting market research, segmentation, analyzing potential markets and brand positioning (Lorge, 1998). Then make marketing mix assessment, which includes describing the product, supply chain and promotional methods to be, used. Approximate the demand curve by knowing how amount demanded differ with price, determine the costs that includes calculating the flat and variable costs of products and services and analyze the external factors such as competition and legal implications (Kotler, 2000). Finally, identify the goal of pricing based on what is required and establish pricing using the above gathered information, choose a technique of pricing, establish a format for pricing and define markdowns (Rosenbroijer, 2001). Advantages of cause marketing campaign With cause marketing, customer associate good values and community involvement with a particular brand and therefore, buy from them since they are, assured their money goes towards a good cause (Marconi, 2002). Moreover, cause marketing can be, used to capture attendants who are potential customers to be new customers. One can use the platform to create awareness and inform target markets on the products and services they offer (Wilson & Woodside, 2001). There is increased positive image of the organization by the public, improved relationships with customers and an opportunity to create new markets. How cause marketing can be, used to build brand equity During the cause events, an organization gathers important information from existing and potential customers on what they would do to improve and thereby satisfy the needs of the customer better. An organization that takes its social responsibility seriously and facilitates good causes through Cause marketing influence the consumers that the brand has integrity, quality and cares about the needs of the community (Marconi, 2002). This helps establish the brand as reliable, responsible and therefore attract and retain clients, which translates to brand equity (Low & Blois, 2002). For example, a brand that annually sponsor cancer awareness program, will allure the interest of women, who may ultimately buy from them, for the simple task of sponsoring such a program. Green marketing can be, used to build brand equity Brands that market their products and services as being environmentally safe are more likely to create enhanced brand equity. Green marketing assures consumers that raw materials, production process, marketing, distribution and disposal of the products will not harm the environment (Meddlesome & Michael, 1995). More and more consumers are purchasing brands known to comply with environmental guidelines and those who are dispose their wastes safely to avoid air, land, and water pollution (Meddlesome & Michael, 1995). For example, a brand that reputes itself in use of green technology during production will attract sales from eco-sensitive individuals, which may otherwise, might not have been. Type of green marketing campaign for KFC As a brand manager for KFC, I would suggest the use of recycled and renewable materials to make table napkins and bags for takeaways. This will prevent usage of polythene papers, which do not compose. Moreover, use of alternative energy like solar and biogas for all activities that need supply of energy. Conclusion This report has analyzed and highlighted majority of issues associated with branding. It has dealt in depth the need for use of the CBBE model during brand positioning and creating brand awareness. Every product can achieve brand resonance with its customers by learning what their needs are. Brands can learn how to make use of the PODs and POPs to win over their competitors. The report has candidly highlighted issues in pricing, cause marketing, and green marketing. References Aggarwal, S. 2008. BRAND MANAGEMENT: A THEORETICAL AND PRACTICAL APPROACH. New Delhi: Global India Publications. Chase, Richard B.; Jacobs, F. Robert; Aquilano, Nicholas J. 2006. Operations Management for Competitive Advantage (11th Ed.). New York: McGraw-Hill/Irwin. Gregson, A. 2009. Pricing Strategies. New Jersey: Jaico Publishing House. Hobbi, B. & Martinez, M. 2008. 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