...A business (also known as enterprise or firm) is an organization involved in the trade of goods, services, or both to consumers.[1] Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit or state-owned. A business owned by multiple individuals may be referred to as a company, although that term also has a more precise meaning. The etymology of "business" relates to the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work. The term "business" has at least three usages, depending on the scope — the singular usage to mean a particular organization; the generalized usage to refer to a particular market sector, "the music business" and compound forms such as agribusiness; and the broadest meaning, which encompasses all activity by the community of suppliers of goods and services. However, the exact definition of business, like much else in the philosophy of business, is a matter of debate and complexity of meanings. Classifications Agriculture and mining businesses are concerned with the production of raw material, such as plants or minerals. Financial businesses include banks and other companies that generate profit through investment and management of capital. Information businesses generate profits primarily from the resale of intellectual property and include movie studios...
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... By developing brand recognition, customer awareness will increase. Marketers have to take time and careful planning to create a fantastic name and image for their brand. (BusinessDictionary.com, 2014) What to consider before when developing a brand. (Sorensen, 2014) To create a perfect brand name, marketers need to consider few steps before developing their brand. * Marketers need to identify the target market: they need to know what type of customers they need to attract. For example, if they want to attract younger customers; trendy photos and music will attract them. * Marketers have to consider legalities: they have to make some research before developing their ideas about the brand to make sure that they do not infringe on other competitors brand. Also, by doing this step legally, marketers will protect their company's name. * Marketers have to consider the logo and color scheme for their brand: Choosing a simple color and unique graphics can help to create the brand name. * Marketers need to consider celebrity endorsements when they are creating their brand name. Using a famous person in their advertisements and commercials can help to grab customers' attention. When marketers do that they will have two advantages, one of them is they will have a popular brand’s name and the other one is their sales will increase. How can you create the most powerful brand in your target market, all it needs is: (Dummies.com, 2014) * Creating a brand image...
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...out of the market. • If competitors are different and coexist, then each must have a distinct advantage over the other. Such an advantage can only exist if differences in a competitor’s characteristics match differences in the environment that give those characteristics their relative value. • Any change in the environment changes the factor weighting of environmental characteristics and, therefore, shifts the boundaries of competitive equilibrium and “competitive segments.’’ Competitors who adapt best or fastest gain an advantage from change in the environment Marketing Strategies When a product is introduced in foreign market it has to undergo several processes. If a marketer really wants to capture the market of a developing country he had to follow best marketing strategies in proper manner...
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...| CW2 - Brand Book Review: Brand Asset Management | DRIVING PROFITABLE GROWTH THROUGH YOUR BRANDS by SCOTT M. DAVIS | Linda Tran 8.3.2013 | Introduction: According to the author, Davis said about his book, "In a nutshell, this book is about helping companies better understand how to manage their brands as assets. But it's not about searching for the silver bullet -- the best name or logo, the coolest service or product, or anything on the Internet. This book is about a mindset shift. Obviously, a long-term commitment is required for this mindset shift to take hold and for the approach I describe in this book to work. This book provides a roadmap to start to achieve Brand Asset Management excellence. It provides some new approaches and leverages successful approaches already established in many companies. And it demands that the brand be looked at holistically, encompassing every functional area within the organization." Davis Create phase and steps as follow: Phase One: Developing a Brand Vision Elements of a brand vision In phase one author is describing what good Brand Vision needs to incorporate the company's strategic and the financial growth goals. The key to the success is to create strong Brand Vision and every single word in it. First What the Brand vision is? How is it used? What kind of key inputs are needed and the last is Four-Part Vision Approach What makes A Brand Vision Statement? * A statement of the overall goal for the...
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...popular. Branding strategy analysis includes market, customers, competitors and brand analysis. Branding strategy involves brand communications, analytical techniques and creative positioning. Evaluating the performance of the brand portfolios helps guide decisions on new products, modified products, and eliminating products (Cravens & Piercy, 2013). The methods for analyzing product portfolio performance are: Product life cycle analysis: determine the length and rate of change in the product life cycle. it identifies the current PLC stage and select the product strategy and anticipate threats and find opportunities for altering and extending the PLC Product performance analysis: determine whether each product measures up to the minimum performance criteria and looks at the strengths and weaknesses of the product compared to other products in the portfolio. Brand positioning maps: consists of relating buyer preferences to different brands and indicates possible brand repositioning options Standardized information services Research studies Branding strategy is an important component of every business. Branding strategy is the most effective way to sell a product/service and to enhance the demand for a product/service in the market. Increasing competition in business develops similar products with good quality from different manufacturers. But an effective branding strategy only makes your business and products more popular. Branding strategy is usually designed and developed...
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...Studies Expert speakers include: Monday 13th - Thursday 16th November 2006, SANA Malhoa Hotel, Lisbon, Portugal Developing a clear brand identity which differentiates your service offerings, enhances customer loyalty and optimises the lifetime value of your profitable customers Discover the key to building and maintaining a successful telecoms brand Optimise your branding strategy to differentiate your services and keep your customers loyal Understand how re-branding can strengthen your position in today’s competitive and convergent telecoms environment Use convergence, content and new services to improve and strengthen your brand PRE-CONFERENCE WORKSHOP Monday 13th November Building and Maintaining A Successful Telecoms Brand Led by: Mybrand Consultants Simone Muet, Project Manager, NExT Transformation France Telecom Group Andre Schloemer, Vice President Brand Management, O2 Jonathan Bill, Head of Category Management, Content Services, Vodafone UK Morgan Holt, Director of Media Innovation, 3 Olivier Laury, Content Director, Multimedia Mobile i-Mode Division, Bouygues Telecom Daniel Probst, Head of Group Identity, Swisscom Eveline Knipping, Head of B2B Campaign Strategy & Evolution, BT Global Services Simon Stauber, Director, Brand Communication & Content Marketing, Orange Switzerland Jonathan Donovan, Head of Employee Relations, O2 Sofia Castro, Brand Strategy Manager, Optimus Thomas Wedl, Marketing Director, Tele.ring Karin Kollenz, Marketing Planning & Strategic...
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...the process of developing a “mark” that is created around your personal name or your career (Lake, 2014). Building up a personal brand is not something that takes a few days or weeks to build, it is something that can take up to a lifetime to achieve. There are a lot of people in this world today that are without a personal brand or something that sets them apart from the rest of their peers. This is not because they’re too lazy or unnoticed to make one for them self; it is due to the fact that it takes time to build something out of yourself for other people to recognize. If you take a look at Stephen Curry, he is an example to all of someone who made a personal brand out of himself. Coming from a small college, Davidson, no one thought that he would make out to be the player that he is today. In saying that, if you beyond the type of basketball player that he is, he is also a person that has made a statement of the type of person off the court he is. If you didn’t know, Stephen Curry writes his favorite Bible verse on all of his shoes, which happens to be Philippians 4:13, and when he asked Nike to stitch this on his shoes, they told him no. At this time, Nike accounted for 95.5 percent of the basketball sneaker market in 2014, according to The Washington Post. Shortly after they denied him this, he switched over to Under Armour, where they were more than happy to put this Bible verse on his shoes. For me, this is what made Stephen Curry’s personal brand, not the fact...
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...“With reference to the combination of the articles as support and background, critically evaluate the role of marketing management and its impact on branding and organisational performance” What is Branding? The process involved in creating a unique name and image for a product in the consumers' mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers. “Even in the world of theatre, what actors say is less important than what they do. That’s why any director will tell you, ‘Action is character’. But in our world action is branding.” What is Marketing Management and its roles? The application, tracking and review of a company's marketing resources and activities. The scope of a business' marketing management depends on the size of the business and the industry in which the business operates. Effective marketing management will use a company's resources to increase its customer base, improve customer opinions of the company's products and services, and increase the company's perceived value. After much research through many websites and books I have found the roles of a marketing management to be as follows: These are the six dimensions in the role inventory of the marketing manager I have found: marketing mix management; managing internal relationships network; strategy development and execution; managing external relationships...
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...Developing your personal brand is essential for the advancement of your career and development as a leader. Unfortunately, personal branding has become a “commoditized” term that has lost its intention as people have irresponsibly used social media as a platform to build their personal brand and increase their relevancy. They believe social media can immediately increase their market value for their personal brand rather than recognizing that the process of developing their personal brand is a much bigger responsibility; a never-ending journey that extends well beyond social media. This is why I always advise those who want to have a social media presence to think carefully about their intentions and objectives before opening an account. Why? Because the moment you start – you must not allow yourself to stop. Challenge yourself to think about what your intentions are and what you are capable of delivering to the communities you are serving – both in and outside of the workplace. Personal branding, much like social media, is about making a full-time commitment to the journey of defining yourself as a leader and how this will shape the manner in which you will serve others. View your personal brand as a trademark; an asset that you must protect while continuously molding and shaping it. Your personal brand is an asset that must be managed with the intention of helping others benefit from having a relationship with you and / or by being associated with your work and the industry...
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...Brand Management Fundamentals Brand managers plan, develop, and direct the marketing efforts for a particular brand or product. It is not uncommon for a brand manager to be responsible for coordinating activities of specialists in production, sales, advertising, promotion, research and development, marketing research, purchasing, distribution, package development, and finance. Brand managers are therefore seen as the key people behind the success of any brand or product. They are responsible for improving the value of their brands or products, which in turn generates profitable returns for the company and shareholders. Brand management is more than a marketing job. Brand managers are responsible for the overall performance of their brands, which includes managing and developing their brands P&L (Profit and Loss), image and positioning in relation to their competitors. They are the key persons to plan, develop and implement marketing initiatives and activities for their brands or products. Brand managers lead market research efforts to understand customers' perception and behavior and formulate effective marketing strategies to ensure their brands receive maximum visibility and perform better than their competitors. Brand managers are also required to be creative and be updated with latest marketing trends as the job also involves coordinating events, marketing projects and advertisement campaigns for their brands or products. Brand managers work with a wide network...
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...Brand Strategy What can a brand do to stay profitable during a recession? Here are some realistic possibilities: • Add a lower-price item with fewer features to your product line. You might even launch it under a different brand name. Most companies should produce a line of products at different price points. • Add some additional value to the offer, such as free shipping or installation. • Maintain the current price but advertise heavily as to why customers should pay more for this brand. Procter & Gamble (P&G) uses this strategy with Tide, instead of cutting the price. • Change the brand’s image through a new campaign. Dove introduced its “Real Beauty” campaign in China in 2011 based on the notion that most women have real beauty—and Dove can help them realize it. • Innovate something new. Apple introduced its iPhone just before the Great Recession and caused Nokia’s market share to decline from 50 percent to 10 percent in five years. • Shift to win the low price position but maintain the brand value and promise. Insurance provider Geico sells auto insurance mainly online and, as a well-known brand, owns the low-cost position. Top Twelve Branding Keys For 2012 by Derrick Daye The 12th year of the 21st century is close upon us, bringing not just a new slate, but also a sense of significance: the very number 12 commands a lot of attention, in different ways. For product brands it’s a unit of trade – 12 units to a dozen, said to be cheaper than other...
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...Building Your Brand and Image There are several key areas to concentrate on when developing your brand and image. These aspects include but are not limited to; your look, your stage presence, your online presence, presentation to fans, and presentation to industry leaders and other people in your line of work. The 3 p’s of branding are: preparing your brand, packaging your brand, and presenting your brand. It is important to find what makes an artist unique and create an opportunity where there is none. As you prepare your brand you have to ask yourself several questions. What do you want to be known for? Do you reflect this in your personal life, and what are goals at the end of all of this? These questions are important to ask because you don’t want to get 5 years into your career and realize that what you are trying to sell isn’t really you, because if you don’t believe it how can your fans believe it. The truth always comes out. Instead of focusing on accomplishments, focus more so on one’s characteristics and traits. One of the most important aspects to remember when developing an artist is one’s online presence. Make sure you’re taking full advantage of all of the various social media networks, securing your name, and making your page look like you’re spending time on it. Interacting with fans will be an effective way of turning listeners into avid fans as you attempt to build your fan base. Put yourself into the shoes of listeners ask yourself where they will find...
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... A Natural Deodorant Body Spray Developing a new brand Green Deo Course: Brand Management (MKT-416) Prepared for Md. Mahmud Zubayer Assistant Professor Department of Business Administration East West University Prepared by Name ID Section Razoanul Amin Talukder 2005-2-10-207 3 Md. Tanbirul Mahmud 2005-2-10-223 3 Khandaker Muradul Haque 2005-2-10-156 2 Md. Reaj Mahmud 2005-1-10-114 3 Mamun 2005-2-10-258 3 Date of Submission: 20 December 2009 10 November 2009 To whom may it concern I am approving that (1) Razoanul Amin Talukder, Id: 2005-2-10-207 ; (2) Md. Tanbirul Mahmud, Id: 2005-2-10-223 ; (3) Khandaker Muradul Haque, Id: 2005-2-10-156 ; (4) Md. Reaj Mahmud, Id: 2005-1-10-114 and (5) Mamun, Id: 2005-2-10- are the students of East West University and they have assigned to prepare a report on “Developing a new brand of Green Deo.”. For this reason they need to collect relevant data, information and things that will help them to prepare their report properly. This report is entirely for education purpose and the information will be provided by you will not be publish in anywhere. So your helpful support will be highly appreciable. Thank you. Md. Mahmud Zubayer ...
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...Management 22 (International Business and Cross-Cultural Management) Jan Ray O. Macanas 3rd Year BSBA FM The Importance of Investment in an Emerging Country Developing countries, also known as emerging markets, are becoming the driver of global growth. It is expected to grow two to three times faster than developed countries like the US according to the International Monetary Fund. And because of the growth many investors are being pulled in to invest to some emerging markets. This growth is very important among investors because it simply enables them to foresee the future of their investment. (Forbes. “What Makes Emerging Markets Great Invesment?”.www.Forbes.com.) China has become a leading foreign investor among all emerging countries, According to the main stream of international business literature on the topic of multinationals from emerging countries, there are generally five motivations for multinationals to invest abroad; they seek resources, technology, markets, diversification, and strategic asset. A careful analysis of the data and the investment by Chinese multinationals indicates the similar motivations provided by China. Chinese government has, to a great extent, played a crucial role in shaping the structure of the country's outward investment; this is consistent that China's FDI has been part of the government's development scenario. Since the 1980s, the government has required the overseas subsidiaries to achieve one of the four goals--introduction...
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