Marketing Management Debates - 1421 Words

Chapter 10 Brand extensions Good or Bad: Brand extensions are a good business growth strategy as it allows the company to organically grow revenue. However, extensions must be carefully evaluated and chosen to ensure that the related affect is what is expected. For example, the company needs to make sure that any extension to the brand supports those brand elements or attributes that customers associate with the brand. Any product extensions that conflict, deteriorate or dilute the brand. Brand extensions can be a profitable business growth strategy by associating the new product with the existing strong brand that the company has developed. For example, Nike started out as a running shoe manufacturer. They built their brand†¦show more content†¦Chapter 9 To develop an effective positioning, a company must study competitors as well as actual and potential customers. Marketers need to identify competitor’s strategies, objectives, strengths and weaknesses. Developing a positioning requires the determination of a frame of reference—by identifying target market and the resulting nature of the competition—and the optimal point of parity and points of difference brand associations * optimal point of parity and points of differentiation; that points of differences are associations and are strongly held and favorably evaluated by consumers; the key to competitive advantage is relevant brand differentiation; emotional branding is becoming a way to create product and brand differentiation: brand stories are growing in importance as are brand journalism, and cultural branding. 3 C’s of positioning: * Be Crystal clear: * Be Consumer based: * Be relevant and credible to the consumer * Write in consumer language and from consumers view point * Be Competitive: * Be distinctive * Focus on building brand elements into powerful discriminator * Be persuasive * Be sustainable Attributes and benefits: * Functionality and price: products and/or services with many features but at a low price— computers, automobiles, home appliances. †¢ Ease and completeness: products that are easy to use andShow MoreRelatedThe Interface Between Marketing And Management775 Words   |  4 PagesThis week I found an article in the Journal of Strategic Marketing. This journal publishes paper on key aspect of the interface between marketing and management. It also identifies long terms objectives and strategies for companies to bridge the disciplines of marketing and management. The article was written by a team of authors: Charles Blanksona, Kirsten Cowana, John Crawforda, Stavros Kalafatisb, Jaywant Singhb and Stanley Coffiec in October 2013, by Taylor Francis Online. Between theseRead MoreBehavior Of Rural Consumers Towards Mobile Phones Essay2136 Words   |  9 Pagesbe prepared for a long haul. Short term efforts may not deliver the desired results on a sustained basis in rural areas. A debate continued for a long time amongst the Indian marketers on the justification for the existence of the distinct disciplines of rural marketing. Consequently, two schools of thought emerged. The first school believed that the product/services, marketing tools and strategies that are successful in urban areas, could be transplanted with little or no modification in rural areasRead MoreIs Service Marketing Different Form Product1442 Words   |  6 PagesName: Marcus A. Cyrus Topic: MARKETING DEBATE—Is Service Marketing Different From Product Marketing? MARKETING DEBATE—Is Service Marketing Different From Product Marketing? Marketing is the process of communicating the value of a product or service to customers. In addition, marketing might sometimes be interpreted as the ability of selling products and services. As the term Marketing may replace Advertising it is the overall strategy and function of promoting a product or serviceRead MoreA selective Annotated Bibliography on Convergence and Divergence1577 Words   |  7 Pagesstandardized global strategy checklist in order to differentiate the products in need of standardization or adaption within the global market. The article is divided into four parts. First part focuses on the traditional perspective on international marketing strategies focusing on the dichotomy between standardization and adaptation. The second part examines key assumptions underlying the philosophy of global standardization. The third part focuses on the constraints to implementation of global standardizationRead MoreStandardization in International Marketing Strategy Is Doomed to Failure: Literature Review and Methodological Critique1577 Words   |  7 PagesStandardization in International Marketing Strategy is doomed to failure: Literature review and methodological critique. The literature on standardization of international marketing strategy has rapidly increased in amount since Levitt (1983) suggested the main concept that business strategies and their influences on firm performance should be universal through national markets which are very much alike culturally, economically and politically, in spite of limited empirical evidence focusedRead MoreIs Marketing Art or Science1647 Words   |  7 PagesMarketing has defined as â€Å"a social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with others† (Kotler, P. Armstrong, G., 2001, p. 6). â€Å"Marketing is the anticipating, management, and satisfaction of demand through the exchange process. It involves goods, services, organization, people, place, and ideas.† (Evans, R. Berman 2007, p. 7). It might never arise to manager that they could be accountants or CFOsRead MoreUnit 3-Business Studies Level 31729 Words   |  7 PagesRSA Academy BTEC Nationals in Business (Level 3) (September 2010 onwards) Unit 3: Introduction to Marketing |Route: |BTEC Level 3 Certificate Diploma | |Unit code: |Y/502/5411 | |QCF Level 3: Read MoreMarketing and Activity1429 Words   |  6 PagesRevision for marketing: Topics 1 Activity 1.1 Why is understanding customers wants so critical for marketers? How are the concepts of value and satisfaction related to each other? Explain the differences between transactions and relationships. Activity 1.2 Now apply the issue discussed in Activity 1.1 to the following questions. Consumers usually choose from a tremendous variety of products and services to satisfy a given need or want. Consider your need for nourishment. How does thatRead MoreMarketing Debate Essay1061 Words   |  5 PagesIs Consumer Behavior More a Function of a Person’s Age or Generation? MKT 6661 Strategic Marketing Management Troy University Introduction A heavily debated issue between marketers is what drives consumer behavior? There are two noted positions in this debate, one that believes that age differences are the deciding factors of a consumer’s wants and needs and others make the case that cohort and generation effects are better suited to uncover the consumer’s desires. Marketers have a majorRead MoreLogistics And Marketing : Friends Or Enemies?950 Words   |  4 PagesLogistics and Marketing – Friends or Enemies? The Recent acrimonious debate has focused on the argument of whether logistics and marketing is friend. Marketing is defined as the management processes of individuals and groups create the demand and meet the demand. (Kotler et al. 2013). Converse (1954) made a speech at twenty-sixth Boston Conference on distribution. He claims that the process of selling goods and the process of satisfying consumer’s needs is closely related to logistics. Christopher