Pamela Ramis - Chapter 11 - Brand Equity & Personality Assignment

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Miami Dade College, Miami *

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Jan 9, 2024

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Running head: Chapter 11 - Brand Equity & Personality Assignment 1 MAR 1011 Chapter 11 - Brand Equity & Personality Assignment Pamela Ramis Miami Dade College MAR1011: Principles of Marketing Professor Jeanie Lisenby November 18, 2023
CHAPTER 11 - BRAND EQUITY & PERSONALITY ASSIGNMENT 2 Abstract Adobe is a brand that has been experiencing a steady growth in popularity and sales over the past three decades, positioning itself now in number 21 1 of the top 100 Interbrand. The company's success is a testament to its exceptional approach to software development and design. Impressing their customers and clients with their innovative practices in this field, which have undoubtedly contributed to their achievements. Brand Equity In 2022, Adobe's shareholder equity reached $14.051 billion, showing a 5.04% decline from the previous year. However, the company's revenue for Q3 2022 rose to $4.43 billion, representing a 13% increase year-over-year. Notably, Adobe was recognized for its exceptional brand value and inclusion efforts, earning a spot on Interbrand's Best Global Brands list of $92.83 billion in 2022; Adobe made commendable progress toward promoting diversity and inclusivity within its workplace, as well as encouraging its partners to bring about positive change beyond the company. (Macrotrends, 2023) 2 Brand Personality Differentiation One factor that sets Adobe apart from its competitors is its position as a leader in the software industry. This is due to several competitive advantages, such as its trusted brand reputation that enjoys high recognition, its comprehensive and integrated software, its loyal customer base in both creative and business sectors, and its continuous innovation of software and platforms. Adobe's products are innovative, one-of-a-kind, and highly competitive. 3 Adobe flagship products Photoshop, Illustrator, and Acrobat, have become industry standards. Some other competitive advantages are extensibility, integrated B2B functionality, live search, product recommendations, and payment services. 4
CHAPTER 11 - BRAND EQUITY & PERSONALITY ASSIGNMENT 3 Relevance Adobe's brand recognition and loyalty give it a competitive advantage. It's difficult for competitors to enter the market because of Adobe's large customer base and industry-standard software. Adobe's unmatched innovation, including the integration of AI into its applications, allows for efficient content generation and customization, attracting new customers and strengthening relationships with existing ones. 5 Esteem Adobe is perceived as a reliable brand by consumers. In fact, 71% of consumers believe that receiving personalized and relevant content increases their trust in a brand. Consumers also expect to be treated as individuals, based on their preferences and interests. In terms of product quality, Adobe has a score of 4.1 out of 5, which places it fourth among its competitors: Apple, Google, Microsoft, Salesforce, and Oracle. 6 Knowledge Adobe's brand guidelines emphasize their commitment to being trustworthy, reliable, and sincere. They prioritize integrity, ethics, and treating others with respect. Adobe was recently recognized by Diversity Best Practices for its excellent efforts in diversity and inclusion, organizational culture, and demographic transparency. Additionally, Adobe has been included in Fortune Magazine's list of 100 Best Companies to Work For for the past 20 years. According to Adobe's 2022 Trust Report, there is a strong correlation between brand trust and consumer behavior. The report surveyed over 12,000 consumers and 2,000 business leaders. 7
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