Brand equity is becoming a necessity within the modern day business climate, when economic agents compete not only for market shares, but also for the best employees, the best technologies or the best resources. In this setting, brand equity provides competitive advantages and points of differences and is essential.
The creation of brand equity varies across industries, across economic agents and it depends on various elements. In other words, there are no secret recipes to creating brand equity, but Yahoo! has to devise its own strategies based on its own specifics. Some of the features which can impact the brand equity strategy would include the size of the company and its resource availability, the marketing expertise it possesses, the features of the market it addresses or the nature of the items it sells.
In terms of the items commercialized, it could be argued that brand equity is created differently at the level of services and products. For products for instance, more emphasis would be placed on the technical functionalities of the items. In the case of services however, the functionality traits are more difficult to define and the emphasis of brand equity would be placed on emotions. Then, since services are immaterial, they are less trusted by the prospective customers. This means that brand equity in services is more focused on creating trust in the vendor, whereas in the case of products, it would be more focused on product promotions.
The construction of brand equity by Yahoo! is a highly challenging endeavor and the complexity is often due to the intangible nature of the services, which makes it more difficult for the audiences to envision them (the services), trust them and demand them. In this setting then, several Best Practice recommendations can be formulated to help the...
Describe eGO's design process. How is it similar to the process detailed in the chapter? The eGO design process is comparable to the concepts in the book in that it strives to create innovative solutions to long-established and well-known problems. The costs of transportation continue to escalate, and eGO concentrates on creating a solution for the challenge of short-range transactions with their products. Visit eGO's website to learn more about products the
It also competes with some renowned brands in the United States and other major markets of the world. The it and consumer electronics industry has been showing a rapid growth for the last few years. Anticipating huge potential of growth in this industry, numerous new companies are entering the market. These new entrants are manufacturing same quality products for the same target customers. Therefore, they are also a big
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Blue Ocean Strategy (BOS) is a new concept in strategic management, introduced by Professor W. Chan Kim and Renee Mauborgne in 2004. After doing detailed research, Kim and Mouborgne found out that most of the companies rely on the market segmentation and price competition for attracting customers. This results in increasing costs, decreasing rewards and creating a Red Ocean where all competitors compete together. Therefore, in order to maintain the
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In all this growth, the equity market was registering an intensifying activity, an enhanced diversification of the shares traded, as well as an increasing number of equity issuers and borrowers. The direct result was the emergence of the Saudi Arabian equity market as the largest stock market in the Gulf Cooperation Council region, a formation founded in 1981 between Saudi Arabia, the United Arab Emirates, Oman, Qatar, Kuwait and Bahrain,
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