...Practices in Brand Extension: Effective Application of Brand Recognition BRAND EQUITY CAN BE DIVIDED INTO THREE COMPONENTS: EXPERTISE, EMOTIONAL ATTACHMENTS AND PRODUCT ATTRIBUTES Brand extensions are an effective and popular method of gaining a competitive advantage when entering a new product area. Consumers are faced with an increasingly complex and confusing marketplace. The ability of a brand to act as a mental shortcut for consumers, thereby simplifying the decision-making process, makes it one of, it not the, most important asset for a company. The ability of a brand to influence consumer behavior, and its subsequent value to companies, will increase as consumers face a growing amount of information in the marketplace. By placing a well-known brand on a new product, a company can imbue that product with all the positive associations of that brand, thereby giving it a competitive advantage. With some estimates of the failure rate for new products at 90%, the added value of being associated with a trusted brand can be critical to a new product’s survival. Given the increasing value of established brands and the difficulty in launching new products, the popularity of brand extensions is understandable. However, the brand extension process must be carefully planned in order to insure the value of the brand is successfully transferred to the extension without jeopardizing the brand’s equity. To do so, a company must understand how consumers perceive their brand and how an extension...
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...Brand Extension Marketing Plan Unit 6 The Mailbox Vacuum Boyd Adams GB530 September 01, 2012 1.0 Executive Summary Vivint Security Company is a security company that has been in business since 1997. The product that will be considered is called the vacuum of the not so distance future. It is called the Mailbox Vacuum and it works on a principle of deterring identity theft. The owner of the product would have the knowledge that their mail was securely with-in the confines of their home. The product would work on these principles. The mail person would deliver the mail and has soon as the mail was put into the box and the door closed, the vacuum would deliver the mail to a box inside the home via a tube that is underground going to the home. The brand name of the for-profit organization would be something that the many investors would vote on. One would consider Quantum Leap 2012, or the Jetsons Mailbox delivery system. There are a few more that come to mind, but as stated, getting the investors feedback would...
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...Value based price: Customer define the value of the product. Does not mean high price. Three levels of Product: Core product, when you start with a new product in the market. In question mark stage you offer core product. Actual product; because of comptetition you offer a design, quality level, brand name, packaging etc. It depends on your customer. Augmented product; installation, after sales service, delivery etc. Potential Product; satıcı da alıcı da farkında değil, konuşarak farkediyorlar. Consumer goods classification BtoC market: Convenience product: Customer usually buys frequently with min. Of comparison and buying effort. Low price. Widespread distibution. Convinient locations. Mass promotion by the producer. Toothpaste magazine, laundry detergent. Shopping Product: Customer is in the process of selection; quality price, style. Higher price. Selective distribution in fewer outlets. Advertising and personal selling by producer and reseller. Television, furniture, clothing.Specialty Product: unique characteristics or brand identification, buyers make special buying effort. High price. Exclusive distribution in only one or a few outlets per market area. More careful targeted promotion. Luxury goods, Rolex etc. Unsought Product: Customer does not know or know about but does not normally think of buying. Price varies. Distrbution varies. Aggressive advertising. Personal Selling. Life insurance. Product Differentiation: Product form, feature, performance, style, design...
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...History of the Business...................................................................................................................9 2.4 Business Structrue Company Resources..........................................................................................10 2.5 Current Strotegies.....................................................................................................................................13 2.6 Current 4PS................................................................................................................................................13 2.7 Competitive Advantages.........................................................................................................................16 3.BRABD EXTENTION: THE MARKETING PLAN 3.1 MARKETING OBJECTIVES 3.1.1 Marketing Goals.......................................................................................................................................18 3.2 SITUATION ANALYSIS 3.2.1 Macro-Environment Political Factors......................................................................................................................................................18 Economic...
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...We Dress Homes TABLE OF CONTENTS S.No. 1. Contents Competitors’ Background - Bareeze Home Expressions IKEA Pakistan alKaram Studio ChenOne Ideas Habitt Junxion Zubaida’s homestore 2. 3. 4. Marketing Audit - Tagline Comparison - USP Comparison - Website Comparison Action Plan (8-Step Plan) - Step 1: USP - Step 2: Vision Mission & Values - Step 3: Brand Personality - Step 4: Corporate Tagline - Step 5: Product Development Strategy - Step 6: Service Development Strategy - Step 7: Social Media Marketing - Step 8: Promotional Strategy References Page No. 3 4 5 6 7 8 9 10 11 12 12 13 14 15 16 16 17 18 19 20 21 23 24 2 3 Home Expression was founded in 1998 by Bareezé. All bed sets, bed covers, etc. of Home expressions are made with Bareezé quality fabric. Bed sets by home expressions are designed according to local and global fashion trends. Beautiful bed without beautiful bed cover looks ugly, taking consideration this need of customers, Home expressions has made several stylish bed sets in several designs and color combination. Now Home expressions has also introduced various new home accessories as well like beautiful rugs, soft furnishing etc. which helped Pakistani women to decorate their home in a more stylish way. Design Type: Floral/trendy motif Designs 4 Affordable Solutions for Better Living The IKEA Concept is founded on a low-price offer in home furnishings. It is based on offering a wide range of well-designed, functional home furnishing...
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...Las Vegas Case analysis 1- Given all the changes in the branding strategy, has the Vegas brand had a consistent meaning to consumers? Is this benefit or a detriment as the city moves forward? Ans: yes there is a consistent meaning. Although the positioning of the Vegas brand has changed, Vegas will never lose the ‘’ sin city ‘’ label. Important aspects of the core brand are consistent; old and new customers attest to a Vegas experience that includes a degree of naughtiness. Different customers have been targeted through city histories and this came from there strong branding strategy, which is: a) Las Vegas as a powerful brand name has a Brand Equity: knowing that the brand name has an effect on the customers’ response to the product or its marketing. b) Las Vegas has positioned its brand in target customers minds through: Brand positioning: by associating its name with a desirable benefit and experience to its customers (being naughtier). Brand name: when the name Vegas get mentioned it means ‘’ sin city ‘’ , luxury vacation and wholesome entertainment to its customers. Brand development: Product Category Existing: Line Extention : extending the brand name to new forms, colors, and sizes. | Brand Extension: extending brand name to new product categories: | New: Multibrands: | New Brands | Its benefits since the city have a broad pool of potential customers...
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...Chapter 8 – Developing a brand equity measurement and management system * Indirect approach: assess potential sources of CBBE by identifying and tracking consumers’ brand knowledge. * Direct approach: assess the actual impact of brand knowledge on consumer response to different aspects of the marketing program. * Brand equity measurement system: set of research procedures designed to provide marketers with timely, accurate, and actionable info about brands so they can make the best possible tactical decisions in the short run and strategic decisions in the long run. * New accountability- return of marketing investment. * Measuring the long-term value of marketing in terms of both its full short term and long-term impact on consumers is crucial for accurately assessing ROI. Brand Audits * Brand audit: a comprehensive examination of a brand to discover its sources of brand equity. Assesses the health of the brand, and suggests ways to improve and leverage its equity. * 2 steps in a brand audit: brand inventory and brand exploratory. * Marketing audit: comprehensive systematic, independent and periodic examination of a company’s marketing environment, objectives, strategies, and activities with a view of determining problem areas and opportunities and recommending a plan of action to improve the company’s marketing performance. * Brand inventory: provides a current profile of how all the products and services sold by a company are marketed...
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...I Company Background: Unilever is the parent company of the Skippy brand peanut butter. Unilever is a multi-national company with over 174,000 employees and operates in over 100 countries. Unilever has an annual advertising budget of over $77 million dollars, however it does not break down the budget per business segment. Total sales for Unilever is over $59 billion USD during fiscal year 2008. (Reed Elsevier Inc) II. Brief Introduction: Skippy was founded in 1933, 10 years after the product was initially developed by Joseph Rosefield. Skippy's Peanut Butter is manufactured in a single 158,000 sq ft plant in Little Rock, Arkansas. They produce over 10 million cases of Skippy per year and have a total of 72 different SKU's produced for global consumption. They use over 1.2 billion peanuts a day and each 18 oz jar contains 853 full peanuts. (Food & Drug Packaging, 2004) Sales data for Unilever saw overall growth in this business segment in 2008 of 7.9%. Peanut butter sale is included in the Savory, dressings and spreads product area by Unilever and accounted for sales of over $14 billion Euros. (Annual Report and Account 2008, 2008) Skippy is a marketing based organization. The products they develop and market are geared towards meeting customer needs and attempting to differentiate themselves from their competition. Examples of this would include reformulating the Skippy Peanut Butter to have a more "peanutty" taste (Skippy Peanut Butter, 2009) and also developing...
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...KEA's Global Strategy Swedish company IKEA was the world's largest furniture retailer since the early 1990s. It sold inexpensive furniture of Scandinavian design. The company operated in 55 countries with a workforce of 76,000 (the company referred to its workforce as its 'co-workers'). IKEA offered nearly 12,000 items to the home furnishings market worldwide. It sold a wide range of products including furniture, accessories, bathrooms and kitchens at 186 retail stores in 30 countries across Europe, North America, Southeast Asia, Middle East and Australia. IKEA enjoyed high brand equity. | | In 2003, Manhattan US-based Interbrand, a marketing research and consultancy firm, valued the 'IKEA' brand at $6.92 billion and ranked IKEA 43rd on its list of the top 100 most valuable global brands, ahead of Nestle, Harley-Davidson, and Apple.3 | Analysts attributed IKEA's success to its skill in combining good product design and superior quality with an affordable price. IKEA's low-pricing strategy was aimed at young people. For several decades, IKEA had looked for international markets, which were culturally as close as possible to the Scandinavian market. The basic assumption behind IKEA's global strategy was 'one-design-suits-all.' Anders Dahlvig, the CEO of IKEA, had once said, "Whether we are in China, Russia, Manhattan, or London, people buy the same things. We don't adapt to local markets." | IKEA had, in fact, been quite successful with its 'one-design-suits-all' global...
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...developing an effective promotional strategy. The nine steps are figuring out who your company is, deciding on the product, deciding on who we want to attract, what are you trying to accomplish with your strategy, getting the message to the target market, how are you going to say it, how will you present it, taking the message to the audience and determining the effectiveness of the strategy. When determining the promotional identity of our company, we need to determine who the company is. When the company wants to be successful in this, the company’s image and identity must match because some consumers may not image how you see your company. ABSOLUT already has a good brand identity which is why the company is so successful. The second part is deciding who we want to attract for our new product. ABSOLUT is a big brand name and there are many different types of customers. The customers range from people who want to just drink casually at home to the bar in the big city that sells alcohol at their bar or club. In order to attract the target customers, we must market in the right places which will make the strategy the most effective. Once the target market is decided on, we need to figure out what the company is trying to accomplish with this plan. With this promotional strategy, ABSOLUT hopes to reach out to their loyal customers and also new potential customers...
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...From wikipedia: Brand From Wikipedia, the free encyclopedia For other uses, see Brand (disambiguation). "Marque" redirects here. For other uses, see Marque (disambiguation). [pic] [pic] The Coca-Cola logo is an example of a widely-recognized trademark representing a global brand. |Marketing | |Key concepts | |Product marketing · Pricing | |Distribution · Service · Retail | |Brand management | |Account-based marketing | |Ethics · Effectiveness · Research | |Segmentation · Strategy · Activation | |Management · Dominance | |Promotional content | |Advertising · Branding · Underwriting | |Direct marketing · Personal sales | |Product placement · Publicity | |Sales promotion · Sex in advertising | |Loyalty marketing · SMS marketing | |Premiums · Prizes ...
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...[pic][pic] Consumer Behaviour Introduction to the brand Dove is a personal care brand owned by Unilever. Dove products are manufactured in the Netherlands, United States, Germany, Ireland and Brazil. The Dove trademark and brand name is currently owned by Unilever. Dove's logo is a silhouette profile of a dove, the colour of which often varies. Dove's products include: antiperspirants/deodorants, body washes, beauty bars, lotions/moisturizers, hair care and facial care products. Dove soap was launched in the United States in 1957, years after Unilever acquired soap factory De Duif (Dutch: The Dove) in The Netherlands, from which the English brand name Dove is derived. Dove has been positioned throughout its history without referring to it as "soap", but as a "beauty bar" with one-fourth cleansing cream. Dove has a great consumer following and has established itself as a premium Soap or rather a beauty bar in the market as well as in the minds of the consumer. [pic] Target Audience The target audience for Dove is basically • Women who want to care for their skin • Who want to look and feel their personal best • Aged 30 – 50 • Beginning to feel the effects of dry skin It has been observed that the core target audience of dove are women who are home makers or are working professionals Mostly they are the middle aged women who want beautiful skin and are not swayed by the fairness which other soaps...
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...gives the larger players a stronger hold as industry leaders (CNBC.com, 2010). However, even these companies, along with all of the others within the soft drink industry face barriers associated with the changing nature and desires of its buyers, geographic and nationalistic trends and tastes and decreasing market share available. Brand identity is a very powerful force within the soft drink industry. It takes an extensive period of time to develop a brand that has recognition and customer loyalty. A well recognized brand will foster customer loyalty and create the opportunity for real market share growth, price flexibility, and above average profitability. It is no surprise that the most recognizable brands within the global economy hold the lion-share of the soft drink market. 29.9% of the market (CNBC.com, 2010). This duopoly holds a stranglehold on the market which is a fierce detractor for entrants. Currently, the biggest threat of entry faced by major competitors within the soft drink industry may be from private label manufacturers (CNBC.com, 2010). Industry leaders Coca-Cola and Pepsi are continually challenged to increase brand loyalty in their core products so that consumers label products. For a new entrant to compete effectively, it would have to be willing to expend the excessive amounts required toward capital investment in order to...
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...University of westminster | WOMAN’S TOILETRY INDUSTRY | Principle’s Of Marketing | Seminar Leader: Jennifer Chang | Word Count: | 12/9/2010 | By Taslima Khanom, Sinem Sisman, Hamda Batah and Zhaneta | Table of Contents 1. Executive Summary 3 2. Terms of reference 3 3. Industry Information 3 4. Overview of adverts 4 5. Segmenting, Targeting and Positioning 5 6. Consumer Buying Behaviour 8 7. Promotion 12 8. Communication strategy 16 9. Price 17 10. Product 18 11. Place 20 12. Critique & Recommendations 22 13. Bibliography 23 14. Appendices 26 1. Executive Summary 2. Terms of reference 3. Industry Information The Cosmetic Toiletry and Perfumery Association annual report (CTPA), (2009) declares ‘Mass toiletries have performed less well with higher growth from units (4.3%) than value (2.5%)’, as seen by the sales figures in Table 1.1. In addition to this Mintel (2010) suggests ‘women spend an average £653.64 a year on beauty products’. Such products include toiletries like cosmetics, fragrances and personal care products as seen in table 1.1. The director of Research at Mintel, Joan Holleran (2009) states "Personal care companies need to focus on value, feel-good benefits and new product innovation to keep shoppers interested" in order to generate sales growth. The distribution channel of the companies within the industry include direct and multiple selling depending on the specific product categories...
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...together with the desire to engineer core product platforms to suit the widest possible range of brands and markets. The Global Consumer Design function is represented in the US Mexico, Europe, India and China. Most of the organisation’s designers operate in brand studios, with 14 major brands and 30 sub-brands supported in this way. Brand studios are responsible for taking the company’s core product platforms, which contain the majority of the product engineering and functionality, and modifying them to suit the language of each individual brand and the specific requirements of its customers. Whirlpool’s Platform Studio, established three years ago, is staffed by designers, engineers, manufacturing and materials specialists. Platform development work typically begins five years before a product reaches the market. This provides an environment where the integrated team can set global standards for colour, materials and finish. They create initial design concepts based on market data, research and information, as well as trends analysis. It is acknowledged that the design outcomes from the Platform Studio find a better fit with some Whirlpool brands over others. The Platform Studio’s role is to reach across to the brand platforms with their design outcomes and work with them to implement and test the concepts. This allows for cost effective modifications to suit diverse brand requirements. Designers Part of the programme to...
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