Branding
The Use of Names in Branding
Explain the concept of a brand and why it would be important to use a brand name.
A brand is a vital part of any company's identity, and in the case of consumer companies, it is the majority of their identity. Think of the most powerful brands in the consumer market including Apple, Coca Cola or Nike and the role of brand becomes indistinguishable from the identity of the company; in effect they merge and strengthen one another. A brand must be managed consistently to ensure the highest level of equity gets generated over time and the company attain high levels of trust with its potential and present customers. Consistency of messaging and execution, a continual concentration on underscoring the core values of the company and a commitment to deliver exceptional products and services all contribute to a brands' equity over time.
A successful brand name and brand strategy enables greater performance both online and offline as well. The growing importance of both online branding correlates to the continual growth of e-commerce globally over the Internet. As a result, brand name online is becoming increasingly important, especially for those companies who have existing business models that are based on retail operations. These include Wal-Mart, J.C. Penny, Kmart, Target and Sears who each experienced more than a 20% growth in the number of unique visitors to their sites after launching major online branding initiatives in 2001 (Janoff, 2001). Many studies also suggest that most customers do not distinguish between branding efforts online and offline, and prefer to the interactivity and knowledge available from websites and online tools as viable alternatives to learning more about a company. Personalization of websites is 25 times more likely to generate return traffic (Chiagouris & Wansley, 2002), and that the most successful offline and online brands do not confuse customers with variations in messaging between each approach.
References (Ciagouris, P & Wansley, G 2002), "Branding on the Internet,' MarketingPower.com. 25 June 2002. Retrieved December 12, 2007 from EBSCOHost.
Janoff 2001, "Top Retailers Reaping Rewards of Online Branding," AdWeek (1 August 2001). Retrieved December 12, 2007 from EBSCOHost.
Companies that have invested in defending their brand and managing the customer experience outside of their website have seen great returns. Within the travel industry, for example, companies such as InterContinental Hotels Group and Royal Caribbean Cruises have both extended their reach to manage the customer experience on partner sites with a very high degree of success. In each instance, their efforts have resulted in an improvement in the
Branding in the global marketplace "Brands should be viewed as markers in a global system of symbolic differences" (Cayla, 2008, p. 106). Julien Cayla and Eric. J. Arnould assert in their Abstract that scholars in the field of international marketing need to "revise some key premises and foundations" and think more along the lines of the being "culturally relative" and "contextually sensitive" when approaching global branding (Cayla, et al., 2008, p.
6%, Nebraska -- 17.6%, Illinois -- 17.5%, Delaware -- 17.4%, Colorado -- 17.2%, Montana -- 17%, South Dakota -- 16.9%, Ohio -- 16.9%, Massachusetts -- 16.9%, District of Columbia -- 16.6%, Alaska -- 16.3%, Missouri -- 16.2%, Michigan -- 16.1%, Wyoming -- 16.1%, Vermont -- 16.1%, New Hampshire -- 16%, Texas -- 15.6%, Arizona -- 15.5%, New York -- 15.2%, Maine -- 14.9%, Connecticut -- 14.8%, California -- 14.7%, New
One relevant example in this sense is represented by the organizational investment in the brand value. In order to ensure a successful management of the brand, it is necessary for the economic agents to engage in a series of steps which maximize their strengths and minimize their chances of failure. All in al, the recurrent trait in the recommendations is that of adapting the branding strategy to the features of
Branding A new entrant in the financial services industry will want to have a strong brand. In this industry, branding is absolutely critical for several reasons. First, many of the firms that are currently in that market have brands that go back 100 years or more and are essentially household names. It can be difficult to counter that brand power. Second, financial services businesses need to engender trust in their market.
Branding Barbie Brand Introduction Barbie is a well-known style doll brought to existence by the U.S. toy-company called Mattel, Inc. And was started in 1959. The brainchild behind Barbie is Ruth Handler who happened to be American businesswoman. She has been recognized for coming up with the doll through an inspiration of a German doll known as Bild Lilli. Barbie has turned out to be the figurehead of a brand of Mattel dolls
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