- What is brand resonance? Can every brand achieve resonance with its customers? Why or
Brand resonance refers to the nature of the ultimate relationship and the level of
identification that the customer has with the brand. Particularly, brand resonance is significant for the brand. It includes the attachment with the brand, brand quality, engagement with the brand, and community of a particular brand user. Not every brand achieves resonance with its customers because of one possible reason, inefficient marketing activities. There are several reasons to be brought under consideration that not all brands achieve resonance with its customers; premium price charge, fails to meet the needs of the customer, unavailability of products, adding value to the product, imperfect brand association, and scarce source of information.
- How does a company build a strong brand (define the steps)? Additionally, cite a
Company that is successful with making a strong brand.
Building a strong brand is the goal of many companies. It is significant to consider the impact of the marketing decisions on its brand value of the company. There are four steps of brand building; brand identity, brand meaning, brand response, and brand relationships An excellent result in marketing requires the company to implement effective marketing practices. The models execute and measure the progress of the company or firm in relation to brand marketing efforts.
Brand identity ensures appropriate identification of the brand and the association of the brand with the customers with specific needs and product class of the customers. Brand meaning is to establish the meaning of the brand in the minds of the customers strongly through strategic connections in both tangible and intangible brand associations. Brand response is to obtain the appropriate responses of the customers to the brand identity and brand meaning. A brand relationship is to convert brand response to make powerful and active loyalty relationships between the brand and the customers. The GUESS brand is an example of one of the most recognized brands in the world.
- What do you see as the role of the Internet for building brands? How would you evaluate
a Web site for a major brand such as Disney? Refer to the Disney website for additional information.
Internet acts as an intense tool for pushing brand and a direct response mechanism. From the internet portal MSN, it appears to confirm that the value of internet campaigns for branding and it demonstrates success particularly between television and the internet . It is proven that online advertising works for brand building, great frequency builder, and people see ads more often when they are online than offline advertising.
Disney as one of the major brands has variety of features available online, from Disney sites, movies, promotions, games, and videos. The Disney Company promotes excellent services, on the latest news and upcoming events, good policies, and internet safety. The website is perfectly created according to the customers’ advantages. Brand recognition is significant in the competitive advantages the company has. The internet marketing of the company is exceptional; they have featured movies that would inform the consumers about the latest and upcoming movies. Customers can explore their favorite Disney characters and play the latest and most popular online games. Games are very educational and promote safety and guidelines to children and their parents. In addition, customers can see what are new at Disney Park, Resort, and other promotions and store.
- Why is value pricing important when a company designs their marketing program?
In a narrow perspective, price is the amount charged for products or services while in a
broad perspective price is the summation of all the values that the customer exchange for the benefits and using the products and services. In a general perspective, dynamic pricing is charging different prices that depend on the individual customers and the conditions.
There are factors most companies considered when setting prices; the customer perceptions of value, internal and external considerations, and product costs. In the overall marketing mix, price is the most significant item that can influence the profitability of the company. When the companies would build up effective pricing strategies, it is significant to evaluate methods of integrating meaningful customer contributions based on the whole company and the competitive contributions in the group.
- Pick up a Sunday newspaper and look at the coupon supplements. How are they building
brand equity, if at all? Find a good example and a poor example of brand-building promotions and discuss your rationale for each.
Most successful marketing executives understand how vital to building a brand equity. The emotional attachment that connects the consumers the product and there are two key ingredients that harden the position of the company as market leaders, the steady cash flow and public image. Advertisers agree that there are basic principles of product branding and it takes different approaches when it comes to marketing campaign launching. It is very significant that companies will build positive brand equity in order that the brand becomes a helpful asset in the companies. Either in launching new brands or managing the established brands, companies should work continuously and aggressively to build its equity.
Among the coupon supplements in the Inquirer Sunday newspaper, there are two promotion ads in SM store. The purchase for a minimum of Php5, 000 using the BPI card with no interest for 3 months installment and 50 percent off at Intercontinental Manila and a zero percent installment on all furniture and décor .
Both promotions are building brand equity. It demonstrates the availability, preferences, loyalty, awareness, familiarity, association, and image and personality of the brands. The good example of the brand-building promotion is the 50 percent off on buffet dining at Café Jeepney and 50 percent off on room accommodations; when the customer uses his BPI Gold, BPI SkyMiles Platinum, BPI Amore Platinum or BPI Corporate Card. It is like a feast at 50 percent off with a promo period, from January 1 to December 31, 201. The images are very tempting on the ad page and consumers understand and believe that the promotion is relevant to their needs and it offers distinct benefits that other brands in the market that do not provide. The other promotion ad has a poor brand-building promotion specifically on the up to 50 percent off only on great selections of furniture and decors with a minimal promo period. Many companies are offering the same promos and offers. Added to its poor limited images on the ad page do not communicate well to the consumers.
- The Boeing Company makes a number of different types of aircraft for the commercial
airline industry, e.g., the 727, 747, 757, 767, and 777 jet models. Is there any way for Boeing to adopt an ingredient branding strategy with their jets? How? What would be the pros and cons?
Yes, I would agree that there is any way for Boeing to adopt ingredients in branding strategy with their jets. The ingredient branding strategy is co-branding. Co-branding presents two or more independent brands that jointly on the same services or products. There are many reasons in the adoption of co-branding in a company, to gain the advantages of spillover effects on the people’s brand, to provide benefits on operation, and to obtain advantages through increasing the attractiveness of the joined offers to the benefits of the customers competitively. Boeing, the manufacturer has a co-branding relationship with GE, the supplier whose jet engines are a strategic significance to Boeing. In addition, Ray Conner, CEO of Boeing Commercial Airplanes that ANA and Boeing share a successful partnership for more than five decades . The selected aircrafts enable to modernize and expand to become one of the world’s principal airline groups.
Another ingredient strategy that Boeing could develop is through leveraging its corporate name more for utilization on the interior and exterior of planes, in airline advertising, and on ticketing information. Boeing could develop advertising campaigns that would feature the different models of their jet.
- After winning major championships, star players often complain about their lack of
endorsement offers. Similarly, after every Olympic, a number of medal-winning athletes lament their lack of commercial recognition. From a branding perspective, how would you respond to the complaints of these athletes? Are these athletes own their brands?
The athletes are brands to themselves. Sponsorship and endorsement opportunities existed because the sponsoring companies borrow some of the brand equities of the athletes. Similarly, in commercial brands, athletes differ in, favorability, strengths, and the associations of the customer to the uniqueness of the athlete. In the case of team sports, favorable and strong associations existed among the fans based for the team entirely; however, it is hard for more than a few individual players to achieve unique association. Several Olympic sports do not create a strong association, and those few athletes that manage to improve or develop favorably and strong association usually faces hard situations apart from other medalists. The development of a unique ability, personality, and story would be a suggested guiding principle for athletes to take advantage on their accomplishments.
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