The paper "Choosing Brand Elements to Build Brand Equity" is a wonderful example of an assignment on marketing. Week: time & date Week 3: Friday, 18th September Introduction This week's lectures deal with Choosing Brand Elements to Build Brand Equity and Designing Marketing Programs to Build Brand Equity. The purpose is to provide a comprehensive idea regarding the process of introducing a product to the verge of distribution. Lecture objective · Choosing Brand Elements to Build Brand Equity By choosing brand elements for the purpose of building brand equity the company can have an adequate hold over the preferences of the customers. · Designing Marketing Programs to Build Brand Equity In order to achieve the appropriate launching of the brand, it is important to design proper marketing programs.
This is also the strategic adaptation of building brand equity. Keller, Chapter 4 & 5 Discussion The entire discussion was related to the relevance of designing and adopting strategic plans for the establishment of a brand in the market. The issues related to Memorability, Meaningfulness, Likability, Transferability, Adaptability, and Protectability were discussed more elaborately New terms Memorability, Meaningfulness, Likability, Transferability, Adaptability, and Protectability Video case The launching of Starbucks has been done with the application of perfect market design.
The process adopted the structure of appealing a particular consumer range and accordingly proceeded with the predetermined formulations. In 2008 it earned total equity of US$2.491 billion. Written case Presentation American Express has established itself as a brand through wider coverage of media and by understanding the demands of the consumer. In 2008 it has earned US$11.84 billion of total equity. The application of adaptability is the core factor for its branding process. What I have learned from the lecture This week I have learned about the procedure from advertising to packaging process to distribution.
I have understood how marketing activities function in general. There is also enough knowledge collected regarding brand equity. Procedures related to enhancing brand awareness and improving brand image and brand resonance was also acquired. The lecture supported me for an analytical aspect over various tactics for brand elements added by the proceedings of packaging under the influence of consumption and taste. The point of view of the consumer has been declared the basic level for planning a design for branding.
This has been made applicable in terms of various analytical aspects. Through this approach, I learned the ways to study the demands of the consumer. The need for assessing the psychological and economic factors of the consumer has been well acquired this week Group work and meeting · This week our team made analytical discussions regarding all the individual reports. · Then, we divided particular case questions to enhance our understanding in reference to practical implementation.