Additionally, it carries an inherent assurance to the customers that the quality of a purchase will be similar to earlier purchases of the same brand In order to develop a solid marketing strategy, an organization must align its goal or brand with its mission and vision.
Rosewood Branding Strategy
It has to be able to assure consumers and payers that what they are seeing and hearing is truly a reflection of its products, services, and organization. Four main factors of a brand include experience, satisfaction, trust, and attachment of the consumers to an organizations brand Chinomona, Then he was faced with a social problem and turned it into a business opportunity.
Kamprad responded by creating a line of furniture priced so that all could afford it Free Essays words 3. Free Essays words 2. Currently, they are focusing on sustainable growth through three growth areas: quality products at low prices, having a positive impact on both people and the planet, and personal growth of their employees IKEA, Essay Preview.
Read Full Essay Click the button above to view the complete essay, speech, term paper, or research paper. Need Writing Help? Did you find something inaccurate, misleading, abusive, or otherwise problematic in this essay example? Let us know! We'll take a look right away. WORDS 3, View Full Essay. More essays like this:.
Not sure what I'd do without Kibin. Exactly what I needed. Most helpful essay resource ever! Generating Preview This preview is partially blurred. Sign up to view the complete essay. When quality of the product begins to create uniformity or when judgments comprise of low-involvement activities, secondary brand association becomes important. Currently, Keller described that in order to build well-organized brand building processes in extremely competitive marketplaces, it is mandatory to understand and identify cognitive factors that affect association process and brand-levering process which relates to the effects on consumers caused by associating a brand to a secondary entity.
The Coca-Cola Company is a U. The company manufactures and markets a wide variety of beverages with around nonalcoholic brands of beverages including sparkling and still beverages. Coca-cola has intensified its still beverages category by adding vitamin water, glaceau and Fuze. Its sports drinks include Aquarius and Powerade are its sports drinks. Coca-Cola Company operates at international level in more than countries The Coca-Cola Company a, , due to which its competitors include wide range of strong competitors from around the world.
Competitors include Nestle, PepsiCo, Inc. Hence to leverage brand equity, the Coca-Cola Company uses various convenient and successful ways to build secondary brand association.
Apple Inc. - Branding, Pricing and Distribution (Business Essay Sample)
The following are the ways, company has built secondary brand association while introducing its new product Diet Coke in The Coca-Cola, being an American multinational company, it generates favorable and strong brand associations to generate huge revenues for its new product. America is the most dominating market in the beverage industry which is recognized for carbonated drinks across the world.
According to the Reputation Institution , America has developed reputation of Coca-Cola is ranked as the number 1 global brand which has proved that consumers have excellent knowledge about company and its brands.
This signifies that consumers have a high level of familiarity and trust with the Coca-Cola Company and its brands which lead the consumers to react in a favorable way. Developing extensions of the brand is far more favorable in terms of cost for the company than to produce a complete new product. Diet Coke is a successful example of brand extension that promoted from the brand franchise of the parent product, Coca-Cola. It has launched around six extensions and increases its market share without even substantial advertisements. This helped the company with regards to advertising and promotional activities, customer perceived image, distribution and consumption behaviour of consumers.
Coca-Cola Company has used many other bodies to sell it products, for example, using Ford Mustang convertible, candy red in its summer campaign. Similarly, it used co-branding as a secondary brand association market approach again while introducing Diet Coke in the market.
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For this strategy, Jean Paul was appointed as creative director for its new brand London, As Jean Paul is a famous luxury fashion designer, consumers relate this association with Diet Coke as a health and diet conscious brand. Coca-Cola successfully targeted young women and girls and linked them with fashion and style. Moreover, company also embraced advance technologies by offering Diet Coke coupons on every purchase of make-up tutorials at Facebook Waltzer, To better associate Diet Coke campaign with style and fashion, company refreshed the brand image and made it appealing for individual fashionistas Keller, Diet Coke has been involved in numerous sponsorship activities around the world.
Heart Truth Campaign has remained actively supported by Diet coke in association with the national heart and blood institute which contributed to brand equity. Coke also sponsored Ugly Betty as its secondary brand association strategy to enhance its brand awareness among its potential customers. On top of all that, Diet Coke has signed another sponsorship with Taylor Swift to improve its sales. Diet Coke has improved its world-wide brand image due to its environmentally responsible operations Keller, This has led to creating a positive and constructive perception and attitude of consumers towards Diet Coke.
Company uses extensive means of distribution to make certain the availability of Diet coke everywhere. Extensive distribution affects the perceptions of consumers and changes the purchasing behavior. Despite intellectual market strategies of Diet Coke regarding secondary brand association, there are many other ways to ensure secondary brand association so as to develop brand equity.
Employees are the representatives of the company and so they are the sort of secondary brand association. In this way, employees can give a constructive impression upon customers on behalf of the entire company. Moreover, well-dressed and behaved employees form a striking image of their company which tends to attract the potential customers.
It can help Coca-Cola Company to re-shape the perceptions of its brands. People relate their feelings, judgments, and associate emotions with celebrities. Many people consume products so as just to get associated with their favorite celebrity somehow. It is co-branding strategy in which company major attributes of one brand are incorporated as ingredients into another brand.
Coca-Cola can increase brand equity by inferring a message to consumers about the shared quality of two brands in one. Also, this uniformity reduces risk while targeting new markets. Moreover, it gives an edge over others as product is highly differentiated firm others. However, it is necessary to use the unique logo of the ingredient on the host brand to stand distinctive. It is an appropriate method to grab the attention of customers by using logos and names of reputable firms with owned brand under contractual agreement.
For this, company would have to pay fixed fee but can benefit a great deal. For example, Coca-Cola using name of famous brands like five-star restaurants, fashion apparels, etc. Secondary brand association deals with connecting a brand with any other entity that may affect the development of new brand associations with the businesses but also influence existing associations.
However, despite impressive market strategies, it is recommended that the Coca-Cola Company must use people, ingredient branding and licensing technique as well to create productive secondary branding association. As the world is transforming into a global village, the technology is upgrading with every second passed. This has altered the ways of doing businesses across the world. Some businesses have been able to cope up with the challenges, and some have failed ruthlessly in this corporate arena.
The phase of failing and then vanishing from the market is called fading brand. In this section, a case of Myspace has been undertaken which is currently going through revitalizing process to earn back its prior position. Myspace is a social media website that has enjoyed its dominance over all other social media websites with the highest visiting members in the world up to the period of In , Myspace reached its peak success with the most visitors and following audience in the United States.
Then eventually in , Facebook has replaced the brand equity of Myspace and claimed to be the most famous social networking website. Consequently, Myspace has lost its visitors, and thus the need of revitalizing arose. This section of the report has presented the reasons of revitalizing and efforts made by company to revitalize its brand equity, followed by suggestions to Myspace with respect to revitalization.
Branding Strategy of Starbucks
Fading or losing brand refers to those brands that lose their identity in the course of profit generation activities. It is the phase of a brand in which it accumulates losses rather than generating profits.
By word fading means losing, evaporating or vanishing. This clearly refers to something that has vanished and no more in existence. It is a failure of a company or brand that could not make enough profits to continue its operations and run its business in a competitive market.
ignamant.cl/wp-includes/64/3855-rastrear-un.php A brand fades and vanishes when it starts to lose its market share. Hence, the brands which start to lose its colors and die away need to revitalize their strategies, brands and company in order to recapture their core identity and customer value. Myspace, a social media website, was launched in August , where people can login and create their profile and perform their social activities such as live chatting, music, videos, etc.
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With the outstanding growth, Myspace surpassed the user activity in It was the year when Facebook came into existence as its strong competitor. For the next three years, company enjoyed its dominance over all other social media websites with the highest visiting members in the world. In , Myspace reached its peak success which went beyond highest visits more than Google and any other company in the United States.