...Rolex Brand Audit 1) What do you understand about brand audit? Explain in relevance tothis case study.Ans : a brand audit is a comprehensive examination of a brand to discover itssources of brand equity. A brand audit provides an analysis of an organization¶sbrand and its brand management and marketing effectiveness. It assesses abrand¶s strengths, weaknesses, opportunities, and threats. It identifies brandgrowth opportunities including those achieved by brand repositioning and brandextension. The audit should result in recommendations to improve brand equity,brand positioning, and brand management and marketing effectiveness.Relatingto this case study, Rolex is one of the most recognized luxury brands in the worldwhich is its most important source of brand equity. Other equities include itscrown logo and the functional benefits that it provides to the user for e.g. quality,craftmenship, and innovation factors like its ³10 golden Rules´. Its exclusivestatus symbol, premium pricing and limited distribution are also key sources of equity. Other key sources of rolex brand equity include Ambassadors, Sports andCulture and Philanthropy. This case study also includes the threats to the brandlike counterfeiting and few main areas of opportunity like introducing newdesigns, contacting with the female customers, understanding younger customers etc. 2) How are product related attributes helping Rolex in its brandpositioning in the market?Ans : Rolex has maintained the highest quality...
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...Service Brand and Product Brand Contents Introduction 1. What is brand 1.1. Elements of Brand 1.2. Benefits of branding 1.3. Significance Of Adopting Proper Branding Strategy 2. Service brand: 2.1. Features Of Service Brand 2.2. Role Of Employers In Success Of Service Brand 2.3. Role Of Consumer In Success Of Service Brand 2.4. Challenges Service Branding Is Facing 3. Product Brand: 3.1. Features Of Product Branding 3.2. Role Of Manufacturers In Success Of Product Brand 3.3. Role Of Consumers In Success Of Product Brand 3.4. Challenges Product Branding Is Facing 4.1. Brand Positioning 4.2. Brand Equity 4.3. Brand Identity And Personality 4.4. Brand Image 4.5. Brand Audit 5. Recommendation References Introduction: The current era is considered the age of competition and the branding is one of the most convenient ways to establish a positive image in the mind of the consumers. However, it is rather difficult task to formulate an image without pondering upon each element that is indulged in the promulgation of some brand. Nevertheless, the brand can be promulgated if proper strategy is applied after selecting the best brand type. This paper throws light upon the significance of brand and two types of brands. The first section is the clear cut mouthpiece of what the brand actually is and what the benefits of using this term. Furthermore, this section also throws light upon two types of brand, ie service brand and product brand. The essential...
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...Market Segmentation Market Segmentation is understanding the needs of key sectors that have been identified . There are 3 ways to divide the market : 1. Geographic — this is based on geographical outlines which consists of spending and income levels, purchasing habits and employment levels. 2. Demographic — this is splitting people according to their age, gender and income. 3. Behavioural — Segmentation based on the social class, lifestyle and personality of a household. An understanding of neighbourhoods can help a business to adapt to it. Market Positioning This is when a business will consider where to place their product in order for it to make money for them. This is also used to set a good view in the eyes of potential customers. Before announcing a product to the public the organisations need to think ahead of that, to see what type of customers would buy the product. So for example if a company’s product was Mouthwash then they’d go for the lower price to sell it at first only to see whether the product sells or not and then if the product shows profits are being made then the company can decide to bump up the price of the Mouthwash. Furthermore, this can also be a difficult procedure. This is because businesses need to guarantee that they know how customers recognize their products and how small variations in how the product is being advertised can have an impact on the awareness of the product. Some companies also consider relocating so that...
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...MINDSET PLANNING AND MAINTAINING STRONG BRANDS THROUGH INSIGHTFUL RESEARCH * * MINDSET 1. What is a brand? 2. Why is branding important? 3. What is the brand planning process? 4. Why choose Mindset? MINDSET 1. WHAT IS A BRAND? MINDSET • • More than a product. It is like a living organism with a life cycle including a birth, adolescence, maturity and old age. It can be healthy or sick. Unlike us, the clock can be turned back and it can be rejuvenated. • • A brand has a soul and a personality. It can give meaning and identity to its user. So its benefits can be both functional and psychological. MINDSET My Personal Brandscape Globe & Mail Levis Irish Spring Finesse Crest Nike Listerine Braun Old Spice Rolex Tropicana Westclox Gap Maxwell House Quaker Oats Bic Macintosh Dole Subaru Clarica Pizza Hut Sunoco Yahoo Pepsi MINDSET THE MEDIUM IS THE MESSAGE Marshall McLuhan MINDSET THE MIND IS A MEDIUM Product Brand • View of self • Understanding • Functional Needs • Values • Beliefs • Experience • Imagination • Image Needs MINDSET AND SO IS THE HEART Product Brand • View of self • Feelings • Experience • Aesthetic...
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...Product and Brand Management (MGMT-MKTG-638) - Revision Exercises - 1. “Customer analysis & competitor analysis are necessary for developing product strategy”. Comment. 2. Explain the steps involved in developing a new product with suitable examples. . Idea Generation The development of a product will start with the concept. The rest of the process will ensure that ideas are tested for their viability, so in the beginning all ideas are good ideas (To a certain extent!) Ideas can, and will come, from many different directions. The best place to start is with a SWOT analysis, (Strengths, Weaknesses, Opportunities and Threats), which incorporates current market trends. This can be used to analyse your company’s position and find a direction that is in line with your business strategy. In addition to this business-centred activity, are methods that focus on the customer’s needs and wants. This could be: •Under-taking market research •Listening to suggestions from your target audience – including feedback on your current products’ strengths and weaknesses. •Encouraging suggestions from employees and partners •Looking at your competitor’s successes and failures #2. Idea Screening This step is crucial to ensure that unsuitable ideas, for whatever reason, are rejected as soon as possible. Ideas need to be considered objectively, ideally by a group or committee. Specific screening criteria need to be set for this stage, looking at ROI, affordability...
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...Introduction: This paper addresses the question how does the law impact the society and business and does this law really work. To attend to these questions, the essay is organized in two sections. In the first section, I analyze the relationship between the 1933 Act and the society by using the concept of libertarianism and the “vail of ignorance” of Immanuel Kant. In the second section, I examine the Securities Act of 1933 by using the accounting skill to argue that 1933 Act did not prevent the inside trading and financial statement manipulation. History of Act: public policy prescription: In the absence of the securities laws, a business firm could basically decide the stock price of their privately-owned company without any governmental supervision and, thus, be free to act with impunity in defrauding both the company and the public. This is the reason the stock price crashed down on “black Friday”. Securities Act of 1933 is in ascertaining that a firm’s disclosure is as accurate as possible, which makes the securities market more fair and transparent in its effort to control fraud perpetrated by unscrupulous business owners on a gullible public marketplace. Market failure: Business’ goal is always for the greatest profits, by taking the advantage of whatever ways they can use, such as fraud. In 1929, business people took the advantage of the absence of the securities laws to defrauding both the company and the public. Trace its implementation: Securities Act of 1933...
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...MKT 562 Complete Course - Saint (All Dqs - MidTerm Paper And Final Exam) IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/MKT-562-Complete-Course-Saint-67364764.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JohnMate1122@gmail.com All week discussion Module 1 Discussion Pick two brands, one that has achieved significant resonance with you and one that has not. Provide a brief explanation why this is so. Module 2 Discussion Pick two brands that are competing in the same market. Identify the two most important positioning criteria for these brands. On a scale of 1-10, where 10 = best score and 1 = worst score, rate both brands in these two dimensions. Explain why you gave these ratings. Module 3 Discussion Please read the articleIs Digital Killing the Luxury Brandby John Ortved and then provide a critical analysis. The article can be found at: You should address the following issues: 1. Provide a brief summary of the key idea(s) the author is trying to communicate 2. To what degree do you agree/disagree with these ideas and why? 3. Regardless of your answer in (b), how would you rate the job the author did in explaining and supporting the ideas presented in this article? 4. Not using an example already stated in the article, provide an example website or video illustrating the concepts discussed and briefly explain why it is an appropriate example. ...
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...CASIO IN LUXARY WATCH INDUSTRY Market Analysis The mission of Casio's product development is to create something where there was nothing before - what Casio calls going from "0" to "1." By creating totally original products, Casio strongly believes that they add fun and convenience to daily life and pioneers new cultural trends. "Demand-creating" products, which Casio’s opinion will create markets of their own, produce economic and technological ripple effects. Strategic advantages of Casio in product development are realized by focusing on the following two core areas: 1. Superb product planning driven by accurate assessments of people's needs 2. Superior technologies to make products that meet those needs Competitive strategy in the luxury watchmaking industry: Per Michael Porter, the three fundamental competitive strategies for outperforming competitors in a long term perspective in luxury watch market are (i) differentiation, (ii) overall cost leadership and (iii) focus. These strategies are defined using the criteria of strategic advantage and strategic target. In order to implement these strategies correctly, companies need to develop different skills, gather particular resources and have an adequate organization of the company as in the following figure. Each of these strategy provide defense against the Porter’s five forces. Companies usually set one of these strategies as their primary target, but it is rare to find these strategies totally “pure”...
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...Thalia Coleman Belanger M00349310 MKT3110 – Marketing Strategy and Planning Dr. Costos Priporas Individual Report - Phase 2 Tuesday March 25th 2014 Word Count: 2,738 Introduction …………………………………………………………………………………………4 I. Marketing Objectives …………………………………………………………………5 Supporting Objectives ……………………………………………………………………6 Summary of Approach ……………………………………………………………………6 II. Targeting and Positioning ………………………………………………………….7 Market Targets …………………………………………………………………………….7 Market Positioning ………………………………………………………………………..8 Market Attractiveness ……………………………………………………………9 Current Market Position ………………………………………………………..10 III. Competitive Advantage ……………………………………………………11 Differential Advantage …………………………………………………………………..12 SWOT Analysis: Matching & Converting ……………………………………………..13 Levels of Product Offering ……………………………………………………………...15 Sustainability ……………………………………………………………………………..15 IV. Growth Strategies …………………………………………………………………17 Marketing Warfare ………………………………………………………………………18 V. Marketing Mix Program …………………………………………………….18 Product ……………………………………………………………………………………19 Price ………………………………………………………………………………………19 Place ……………………………………………………………………………………...19 Promotion ………………………………………………………………………………...20 Communication Tools ………………………………………………………….20 Product Life Cycle Management ……………………………………………...21 Implementation & Control ………………………………………………………………22 VI. Conclusion …………………………………………………………………..24 VII. References ………………………………………………………………….25 Appendix A: Summarized Strategic Analysis:...
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...Sports Marketing Association - 6th Annual Conference July 17, 2008 Gold Coast, Australia. 1 Brand Strategy for Sporting Teams By Charlie Quirk Brand Strategist at Tait Sublercharlie.quirk@gmail.com 6 th Annual ConferenceJuly 16-20, 2008Book of PapersAbstract In the twenty first century, sporting teams around the world are experiencingunprecedented levels of fame due to technology like the Internet and satellite TV. Assuch, teams can no longer rely on mobilizing fan support and sponsorship capital intheir home market alone. In the same way corporations are guided by a compelling andoriginal idea that forms the basis for their brand strategy, so too must sporting teams.The purpose of this paper is to draw parallels between “conventional” brands like Appleand Disney, and to articulate what sporting teams can learn from those companies inthe management of their own brands. Brand Strategy For Sporting Teams By any definition, sporting teams today are big businesses. Harvard Professor StephenGreyser has observed that in recent times we have seen teams migrate from the sportspages to the business pages and, now sometimes, to the front page (Comeau, 2005).Like other large corporations, teams employ great numbers of people, generate profitsand losses, all the while seeking to achieve success against certain performancemetrics. And like other businesses, they have to perform well, remain financially viableand satisfy several stakeholders who have a financial interest in...
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...Chapter 1 BRAND POSITIONING MODEL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Chapter 2 BRAND RESONANCE MODEL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Chapter 3 BRAND VALUE CHAIN MODEL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 APPENDIX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 B R A N D P L A N N I N G 5 INTRODUCTION Great brands are no accidents. They are a result of thoughtful and imaginative planning. Anyone building or managing a brand must carefully develop and implement creative brand strategies. To aid in that planning, three tools or models are helpful. Like the famous Russian nesting “matrioshka” dolls, the three models are inter-connected and become larger and increasing in scope: The first model is a component into the second model; the second model, in turn, is a component into the third model. Combined, the three models provide crucial micro and macro perspectives to successful brand building. Specifically, the three models are as follows, to be described in more detail below: 1. Brand positioning model describes how to establish competitive advantages in the minds of customers in the marketplace; 2. Brand resonance model describes how to create intense, activity loyalty relationships with customers; and 3. Brand value chain...
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...THE WATCH INDUSTRY Even though the watch industry is better known for its Swiss origin, since 2010 major players from different parts of the globe have had an impressive growth in the watch market with very good results. There are several types of watches included in the production and they include, but are not limited to: Automatic watches, Chronograph watches, mechanical watches, fashion watches and luxury watches. Watches are made of different materials, including steel, precious metals, gold-steel and other materials. Steel watches lead the market with 55% units of production giving as a result a growth of 1.6% in the overall watch market. “Other materials” (carbon fiber, silicone rubber, ceramic) come in second place with 28% units of production and which volumes gained more than one million units in 2014. Mechanical and electronic watches have gained value and increased its production in the number of pieces (+8.8%) generating almost 80% of turnover in the exports (Exhibit 1.1 – CHF: Swiss Franc). Watch Types – exhibit 1.1 MAIN MARKETS Asia took more than half of all Swiss exports (53.2%) with a great improvement in the first half of 2014 in Hong Kong. The profile of China was similar to the one in Hong Kong with a wider fluctuation range. Finally, Japan had a very good year in 2014 as well, with a great growth where Swiss exports rose by 15.2%. European market growth was subdued ending with a decline. The European economic situation played a major role. Germany’s...
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...Marketing Strategy Notes for Cravens/Piercy Book Chapters 1-5 Chapter 1- Market Driven Strategy Know the what and why on all of these: Market driven Strategy = the market and the customers that form the market should be the starting point in business strategy formulation. See page 3. What does this mean for the auto business, a restaurant, a college or university, what would they do? Related topics foundational for a market driven strategy: Marketing Concept or Orientation – says that the key to success in business is to identify and satisfy needs and wants of the buyer. The customer is king. This contrast to the production orientation/concept which focuses on how to make the product at low cost, and the selling concept/orientation which focuses on promoting what you want to sell. In the production and selling orientations the company makes what it wants to make and tries to get the consumer to buy it. With the marketing orientation the company first figures out what people want to buy, then makes it, and then tells them about it. Market Oriented/ Market Orientation – see page 4. Means: Customer is focal point of company’s total operations Customer Focus Cross Functional Coordination Competitor Intelligence Result – superior performance Creating Value – must deliver benefits in excess of costs (value), the greater the excess the better. (Auto and college as examples) Note that we can’t do all things for all people: ...
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...Marketing Strategy Notes for Cravens/Piercy Book Chapters 1-5 Chapter 1- Market Driven Strategy Know the what and why on all of these: Market driven Strategy = the market and the customers that form the market should be the starting point in business strategy formulation. See page 3. What does this mean for the auto business, a restaurant, a college or university, what would they do? Related topics foundational for a market driven strategy: Marketing Concept or Orientation – says that the key to success in business is to identify and satisfy needs and wants of the buyer. The customer is king. This contrast to the production orientation/concept which focuses on how to make the product at low cost, and the selling concept/orientation which focuses on promoting what you want to sell. In the production and selling orientations the company makes what it wants to make and tries to get the consumer to buy it. With the marketing orientation the company first figures out what people want to buy, then makes it, and then tells them about it. Market Oriented/ Market Orientation – see page 4. Means: Customer is focal point of company’s total operations Customer Focus Cross Functional Coordination Competitor Intelligence Result – superior performance Creating Value – must deliver benefits in excess of costs (value), the greater the excess the better. (Auto and college as examples) Note that we can’t do all things for all people: ...
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...Executive Summary This Marketing Plan Audit provides an analysis of the brand situation, current strategies and provides suggestions and implementation plan for Nokia Corporation. Nokia is a Finish manufacturer of mobile devices, which makes a full range of cellular phones for all major consumer segments worldwide, including Internet-enabled devices enable people to experience music, maps, media, messaging and games. Company has over 132,000 employees in 120 countries, sales in more than 150 countries and global annual revenue of over 60 billion dollars and operating profit of 2.86 billion dollars as of 2010. Nokia is the world's largest manufacturer of mobile phones: its global device market share was 31% in the fourth quarter 2010, but dropped below 30% in the first quarter 2011. In June 2011, Nokia was overtaken by Apple, as the world's biggest smartphone maker by volume. For many years Nokia enjoyed an overwhelming domination on the market of personal mobile devices. The company managed to build the strong brand, easily recognizable style of it’s devices and consumer favorite. Due to serious mistakes in product and distribution strategy, as well as growing competition from companies like Apple, Samsung ,Motorola and others, Nokia started to experience serious problems with its sales, market share and consumer loyalty. Presented Audit defines Nokia’ current issue with the Brand positioning, that caused the diminishing of the brand popularity and lowered competitive strength...
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