Brand Command Respect In Apple

According to Holt (2004), a brand can be defined as a term, name or a design that distinguishes product or service of one manufacturer from others. Brands are normally utilized in advertising, business and marketing. In accounting terms, brand is an intangible asset which is present within every organization. It is most valuable asset that is outlined in the balance sheet of a company. Brands owners need to effectively manage their brands in order to enhance shareholder value. Brand valuation is an important technique that associates money with a brand. Effective branding often results into high sales volumes of a particular product. A customer who prefers a brand is more likely to choose other products which are offered by the same brand. Brand can be stated as a personality that facilitates identification of a company, product or service. It even encompasses relation with other constituents like customers, partners, investors, staff, etc. Individuals distinguish psychological aspect of a brand from experimental

According to Keller(1993) the effective brand positioning gives a brand a competitive advantage or “unique selling proposition” that determines a reason why consumers are buying this product or service (Keller, 1993). Similarly, Kay (2004) argues that brand’s strength depends

Apple has prospered internally and it is necessary to consider both strengths and weaknesses. Apple has lots of strengths, the major of them being it’s impressive brand reputation, Apple managed to position the brand as “premium products” for “elite” people. Customers are loyal and tend to stay in Apple’s ecosystem. Apple’s self-reinforcing ecosystem, it has a diverse ecosystem which integrates various hardware and software products into one large interactive space. Status of top innovator, Apple is perceived as the leading innovator and its products are highly anticipated. Apple’s very strong financial performance, high profit margins and very high liquidity. It’s network of retail stores, high-quality customer service helps to create advanced user experience. A powerful marketing strategy, Apple’s team masterly uses various marketing techniques to create a hype for their products and to strengthen the brand.

Apple implemented the marketing concept by focusing on customers’ needs through imagination, design, and innovation creating an emotional brand for its customers. Even though Apple is a technological company it takes a humanistic approach to satisfying the needs of its customers far better than the competition.

Suggested by counsulting company Young & Rubicam, based on their Brand Asset Valuator, four dimensions in measuring the brand strength are:

It is clear that the marketing managers of John Lewis have built a strong brand and maximised its equity. In order to do this there are characteristics of strong brand which marketing managers must work towards (see Appendix A).

Branding is one of the most important aspects of any business structure. Your brand is meant to increase the competiveness against your company. “your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates

According to the American Marketing Association (AMA), a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition”. However, as Keller highlights, a brand is also “something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace”. Therefore, a brand is an identity created to differentiate itself from the competitors and to be remembered in consumer’s mind.

Successful brands build successful products when the product is one that the consumer desires as opposed to needs. Companies selling these types of products must put additional effort into marketing activities like brand

Apple has become one of the most respected companies in the technological industry. Over the

Apple can go from being a business to being a religion largely due to the hype the company receives when they release a new product. As the loyal Apple consumers demand to hear more about what the company has to offer, they become increasingly obsessive. Apple is a well- known, successful company, and subsequently they are able to advertise themselves everywhere. Consumers give products power as the public denotes what is trending in society.

Quality: The quality that is offered by the company is high and superior. The products are of superb quality that is eligible to compete in the market. Moreover, despite having a higher quality, the products have reasonable mark-up price that poses a tough competition in front of the competitors.

Brand Power. A brand identifies the company’s product, differentiates it from other competing products, and more particularly in this instance, helps with the introduction of new products. While brand recognition is very influential in developing markets, SkillPower has considerable brand loyalty, but does not have a widely known brand, which is a weakness given that most customers prefer to buy new products from familiar brands that to them signify quality and confidence. Potential clients may hesitant to take a

STRENGTHS - Strong brand loyalty predicts return customers. It costs far less to keep an existing customer than to lure in a new one. - Simple, easy-to-use design and concise product range attract customers (recall the Paradox of Too Much Choice).

The Apple brand is well recognized amongst most consumers. Apple also enjoys a high level of