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Contemporary Brand Management - Essay Example

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Contemporary Brand Management Table of Contents Contemporary Brand Management 1 Table of Contents 2 Section 1 4 Brand 4 Background Information about Rolex 5 Brand Architecture 6 Section 2 7 Brand Positioning 7 Brand Positioning of Rolex 9 Comparison of Brand Positioning of Rolex with Citizen 10 Section 3 11 Brand Analysis 11 Product Life Cycle Analysis 11 Product Life Cycle (PLC) Strategy of Rolex 12 Brand Equity 13 Brand Value of Rolex 14 Brand Identity 15 Brand Identity of Rolex 16 16 Brand Pyramid 17 Brand Pyramid of Rolex 17 Brand Image 18 Rolex’s Brand Image and Brand Personality 20 Section 4 21 Advertising 21 Advertising Strategy of Rolex 23 Section 5 24 Brand Management Recommendatio…
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Contemporary Brand Management

Download file to see previous pages... ..a set of mental associations, held by the consumers, which add to the perceived value of a product or service” (Kapferer, 2008, pp. 10). The alliance ought to be exceptional, well distinctive, effective and affirmative. Brands act as a key attribute to differentiate its products or services from that of its competitors. It constructs a separate individuality for the company in favour of it from others. Brand is considered as the asset for an organisation as it augments the value of the product with the assistance of its outstanding salient features. A brand is intangible in nature as it does not possess the characteristic of being figured. Thus, it is quite different from being just a product, or a service or a commodity. It enhances the image of the corporation. Therefore, it is also different from a company. It has been witnessed that consumers review a product or service on the basis of the brand name that is allied with it. Branding aids in developing an elongated, vigorous and emotional affiliation between the brand and the company. It divulges about the company and other essential information with context to the company internationally. The brand name in itself influences the purchaser to purchase the product. Branding facilitates a corporation to provide a clear definition of any product, position the product and distribute it to the prospect customer (Kapferer, 2008). Background Information about Rolex Rolex, the exquisite brand coined by Hans Wilsdorf and produced by Swiss watch making company at Bennie, brought forward a wonderful range of watches. Since ages, Rolex prolongs to sustain efficiently and also persists to be a strong position in the copious watch market. Rolex is assisting its company with an enlarged market share and a significant competitive advantage to sustain in the fiercely competitive global industry. It enhances its market position which is a factor that makes the brand an asset for the enterprise which segregates it from merely being a product, service or commodity. Rolex focuses on brand purity, trend, business presentation and constancy. These are the most important reasons that have made Rolex an astounding brand (Liebeskind, 2004). It has been seen that customers always evaluate and scrutinises a particular product on the basis of brand name. Similarly, Rolex having a superior brand name stimulates customers to spend on its product, although it has encountered various competitors as a consequence of globalisation, still it stands to be an internationally exclusive brand. The main competitors of Rolex include Citizen and Omega. The watches endowed by Rolex primarily focus on the sports person as their potential target customers as it deals with giving immense importance to luxury and deluxe products. It has also developed its brand on classic, fashionable and water resistant watches. The international players dealing with the similar nature of products and similar market segment may be regarded as their competitors. It follows the scheme of premium pricing to distinguish its product from its contenders ...Download file to see next pagesRead More
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Contemporary Brand Management report on (Rolex the luxury watches brand)
Brand Analysis 8 3.1 Brand Image 8 3.2 Brand Identity 9 3.3 Brand Awareness 10 3.4 Brand Pyramid 11 Section 4. Special Interest: Advertising 12 Section 5. Brand Management Recommendation 13 Reference List 15 Rolex, the Luxury Watches Brand Introduction One of the most challenging phases in product development and design is branding.
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