Choosing Brand Elements to Build Brand Equity - Assignment Example

Week :time & date Week 3: Friday, 18th September Introduction This week lectures deal with Choosing Brand Elements to Build Brand Equity and Designing Marketing Programs to Build Brand Equity. The purpose is to provide 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 adequate hold over the preferences of the customers. ·          Designing Marketing Programs to Build Brand Equity In order to achieve 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 a 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. Application of adaptability is the core factor for its branding process. What I have learned from lecture In this week I have learnt 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 enhance brand awareness, and improving brand image and brand resonance were 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 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 f various analytical aspects. Through this approach I learnt 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 ·In 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. Week :time & date Week 4: Monday, 25 September Introduction This week lectures dealt with integrating marketing communication to build brand equity, leveraging Secondary Brand and acquisition of knowledge to build brand equity. The purpose was to open some of the basic notions related to the development of communication and knowledge for the establishment of Brand Equity. Lecture objective ·Integrating Marketing Communication to Build Brand Equity: In this process the basic concentration is over the application of professional and well planned communication structure to motivate the consumer. · Leveraging Secondary Brand: This is an aspect that deals with the formulation of personalized approach in understanding the concept that can appeal the market best. ·Knowledge to Build Brand Equity: Knowledge of both theoretical and empirical aspects is necessary to build brand equity and this has been discussed in this week lecture. Keller, Chapter 6 & 7 Discussion The process of getting into the competitive market has been established this week. With innovative and creative persuasion a product can well build its brand equity. With adequate provision for leveraging secondary brand and proper understanding of the fluctuating instinct of the consumer, brand can be established in the market. New terms Experiential marketing, One-to-one marketing , Permission marketing, Product strategy, Pricing strategy and Channel strategy Video case Snapple (WC-VC) produced by Dr Pepper Snapple Group since 1972. From then it has got a very strong media approach to build its brand equity. For every target consumer the mode of communication has been established differently. Written case Presentation IPod established itself through a persuasion made in the field of gadgets and technological instruments. In 9th September, 2009; more than 220,000,000 iPods were sold all over the world. Its approaches were closer to all those people who prefer to have update gadgets. What I have learned from lecture The basic points that I have learnt this week were basically related to the establishment of a brand in the marketing procedure amidst all kinds of competitiveness. Few brands could make very strong impression and the factors were all related to their marketing approaches. I have also learnt about the proceedings and importance of reconciling new marketing approaches. Theories related to permission marketing have been acquired. Understandings related to Product strategy, Pricing strategy and Channel strategy brought in enough planning and structural formation regarding Brand equity. I can now relate the theoretical proceedings to the practical implementation of product branding structure. It has been well understood that sustainability in the process of branding is very important and the plan needs to support the process of sustainability. Group work and meeting · In this week our discussion was more all the question answers and we all agreed that by next week everyone will put his part in white slide. · After the presentation in the white slide got finalized, we start discussing our major project Week : time & date Week 5: Monday, 2ed October Introduction This week lectures dealt with the approached related to developing a Brand Equity, measurement and management system and measuring sources of Brand Equity through capturing customer mindset. The dealings were more about the means through which the product can gain promotion amidst competitive market. Lecture objective ·Developing a Brand Equity: This is the process that concentrates over the application of appropriate planning to develop and improve the consumer preference regarding a particular product · Measurement and Management System: This topic is concerned with the assessments related to the market analysis and the structural application of managerial skill to attain brand equity. ·Measuring Sources of Brand Equity through Capturing Customer Mindset: This is an aspect that directly related to the process of motivating the consumer about a particular product. Keller, Chapter 8 & 9 Discussion The discussion of this week was regarding the process to achieve consumer's preferences. This is more related to the dealings of psychology of the consumer. Emphasis has been led over the application of brand value chain to meet the expected criteria of the consumer. New terms return of marketing investment, brand value chain, Brand Equity Measurement System, Brand equity charter, Brand equity report, Brand equity responsibilities Video case Levi-Dockers (WC) is a brand that has gained brand as a khaki garments collection from Levi Strauss & Co. it has its dominance in Asia and most of the European markets. Written case Presentation Redbull the energy drink has sustained the market since 1987 and has gained enormous recognition all over the world. Its branding strategy follows exclusive persuasion of flavor preferences led by consumers. What I have learned from lecture In this week I acquired lots of information regarding the process of tracking. It is all about tracking the demands of the consumer and there changing preferences. The basic proceedings related to brand management gets highlighted through tracking. It needs constant eye over the market and its specifications. This can be attained through the application of Brand equity charter, Brand equity report, Brand equity responsibilities. Proceedings related to the application of Knicks Brand Charter added more comprehensive persuasion for the attainment of proper management for brand equity. Understanding related to various new approaches, like ZMET; added more credibility to my analytical speculations. I also earned knowledge about the process through which brands are built and the usability of the global locator for the purpose. Group work and meeting ·In this week all the presentation parts were collected and we designed the Power Point slides together. · A schedule for project illustration was made on this week Week : time & date Week 6: Monday, 16 October Introduction This week lectures dealt with the understanding and application of Measuring Outcomes of Brand Equity: Capturing Market Performance. This is basically related to the analysis made over the performance of a particular product. Lecture objective · Measuring Outcomes of Brand Equity: Capturing Market Performance: It is the source on the basis of which we can make an assessment of appropriate marketing strategies of a particular product. It is the way to keep a record of the developmental strategies for brand equity. Keller, Chapter 10 Discussion The discussion for this week was solely about the means for Measuring Outcomes of Brand Equity by the process of Capturing Market Performance. This is the process for assessing the performance of a product and the reason for the application of a specific strategic plan to achieve more success. New terms net present value, measuring market values Video case Wild Planet (VC) is the second studio album led by the B-52's in 1980s and still making a mark among all the modern marketing challenges. Its approaches are all structured through proper motivation of the consumer. Written case Presentation Du Pont had a revenue collection of $31.836 Billion USD in 2008. It has consecutively tried to meet its organizational goals by means of sustaining in the market through proper analytical valuations. What I have learned from lecture In this week I acquired the process of valuing a particular product as per the asserted competition of the market. The valuation approaches helped in understanding the means to develop the need for keeping product progress report for betterment in the future. I have understood the application of various valuation approaches. These are in particular identified by the evaluating Accounting background, Historical perspectives, General approaches, and Interbrand’s brand valuation methodology of the particular product. Added to all these it is also very important to apply the five valuation steps. These steps are market segmentation, financial (role of branding) analysis, demand (brand strength) analysis, competitive benchmarking and brand value calculation. Group work and meeting · In this week we practiced all our presentations and tried to polish it in the best possible way. · We named our team as “Fine” and believed that its presentation will be the finest of all. · It is in this week that a plan for our project was developed and submitted to lecturer Week : time & date Week 7: Monday, 23 October Introduction This week lectures dealt with Designing and Implementing Branding Strategies. This is a very practical approach and needs more participation from practical grounds. The basic structure of this week lecture is to bring in the essence of designing and at the same time implementing brand as per the decided strategies. Lecture objective ·Designing and Implementing Branding Strategies: It is the application of theoretical aspects into the practical field. Keller, Chapter 11 Discussion Through the provisions of understanding the implementation of proper strategies, the product gets its identity in the market. There are various levels of challenges and crisis in the application of these strategies. The importance lies in the maintenance of basic structure of designing the branding process. Implementation and cooperation of media in the same field are considered as integral. New terms Brand Architecture, Brand strategy, Brand Portfolio, Brand Hierarchy, Corporate Brand Equity, Green Marketing Video case In 2009 P&G attained revenue of US$79.0 billion. It has attained a net income of US$13.4 billion in the same year and broke its own records. This is a progress that has been attained through proper analysis of the branding strategies for the implementation of the same in the market. Written case Presentation Yahoo had a great achievement in its revenue collection that increased upto7.22 billion USD in 2008. It has grown in every format with operating income of $4.13 billion USD and has challenged Google to a great extended in 2009. What I have learned from lecture In this week I have attained enough awareness about some of the new terminologies. These are basically Brand Architecture, Brand strategy, Brand Portfolio, Brand Hierarchy, Corporate Brand Equity, Green Marketing. The purpose of this week lecture is to bring in the consciousness among the students regarding the designing and implementation of an appropriate branding structure. the process helped me in adding some of the specific specialization to the process sofa branding strategies. These proceedings will deal more with the changing climate of the market. Understandings related to the whole hierarchy of branding and implementing strategies makes me aware of the challenges that a product can face in the market. Group work and meeting · In this week a discussion about how we performed in our presentation and what are our weakness and strengths; were discussed exclusively. Every necessary point has been discussed with an effort to modify it. ·We further divided our project work and based it on each group's member skills to attain more perfection and comprehensive illustrations. Week : time & date Week 8: Monday, 30 October Introduction This week lectures dealt with the process of introducing and naming new products and brand extensions. The idea is to understand need and the process of extending a particular brand to cover most of the areas of the market and the preferences of the consumers. Lecture objective ·Introducing and Naming New Products and Brand Extensions: This is a process that adds the extension of a brand by introducing novel concept and product valuation to it. Keller, Chapter 12 Discussion The discussion in this week were concentrated more on the process of understanding the ways through which customers actually evaluate the process of brand extensions. The issues related to the success and failure of category extensions. The discussion also led emphasis over the importance of every particular aspect that is related to the establishment of a new identity from an old root. New terms Ansoff’s Growth Share Matrix, Brand Extensions, Parent Brand Equity Video case Eaton (VC) [which Eaton do you mean?] Written case Presentation Intel has been identified as world's largest semiconductor chip maker. In 2008 all its extended brands made a total operating income of US$9.0 billion. What I have learned from lecture In this week the most interesting thing that I learned is about the application of Ansoff’s Growth Share Matrix added by Brand Extension provision. I also collected enough understandings about general strategies for establishing a category through Tauber’s Franchise Extension. Added to this there are realizations about the advantages and disadvantages of brand extensions. I have collected information about the understanding about the means to detect customers' process of evaluating brand extensions. These are further enhanced by the knowledge related to the strategic successful and failures of Category Extensions of a brand. As a whole I got the idea related to the need for extending a brand and the ways that can make it a safe progression. The relation between theoretical aspects and the practical implementation of the same has been well realized through the lectures of this week. Group work and meeting · In this week we dedicated most of the time in revising our project and discussed the main outline and points for better clarifications. These points are further modified and illustrated through better levels of understanding. · Amidst all kinds of mutual initiations within the group there was a small conflict about the logo between Yaser and Ali. This was however dealt with positive aspiration within the group. It was considered to a part of the team work and thus dealt in a balanced way by the group. Week : time & date Week 9: Monday, 6 November Introduction This week lectures dealt with managing Brands over Time and managing Brands over Geographic Boundaries and Market Segments. It basically concentrated over the persuasion of the branding process in terms of establishing as per the diversified demands of the area. The lecture was delivered with special emphasis over the establishment of branding in the international market. Lecture objective ·Managing Brands over Time: This objective has been discussed to bring in the importance and relevance of the time and period in which the branding will occur. This is directly related to the proceedings of managing time factors for proper brand equity. ·Managing Brands over Geographic Boundaries and Market Segments: This is a section that elaborates the varied demands of the consumers as per their cultural and social set up. Keller, Chapter 13 &14 Discussion The lecture elaborated the process of managing brands over the factors like time. It also illustrated the process of reinforcing and revitalizing brands. The demand for proper adjustments to brand portfolio is also the core to the study process. Elaborations related to regional and international market segments were discussed this week. It has been well established that the product need to make certain compromises to get launch in certain areas. These are relevant as per the lifestyle and psychology of the consumer in that particular geographical set up. New terms Brand Image, Brand Awareness, Standardization and Customization, Global Brand Strategy, Global Customer-Based Brand Equity Video case Nike (WC-VC) has established itself as a major U.S. manufacturer of products related to athletic shoes, varied kinds of apparels and sports equipments. By perusing management of products branding as per the demands of the areas wherever it got launched; the company made a total equity of $ 7.825 billion in the year 2008. Written case Presentation Accenture is well known for its global management proceedings. Being into the business of consulting and various technological services it has led much developments in outsourcing varied kinds of services worldwide. Through proper management of its services, it added a total equity of $ 2.540 billion in 2008 to its account. What I have learned from lecture This week I have gained lots of information about managing a brand as per the particular demand of a geographical area. I have learnt to manage brands over time, reinforcing and revitalizing brands, application of adjustments to brand portfolio and the way a product need to respond to the regional market segments. I have understood the approaches that need to be followed in response to the demographic and cultural segments of branding. Various advantages and disadvantages of Global marketing programs have been well acquired. I have learnt the conditions of comparing standardization over customization added by the importance of global customer-based brand equity. Above all I have acquired a comprehensive idea about the Ten Commandments of Global Branding that will surely help in dealing with the aspects of international branding strategies. Group work and meeting · In this week we agreed to start working on the project presentation that is starting from next week. This will be preceded by final editing of the entire written report Read More