Branding: Marketing and Answer

7. Describe the four elements of the marketing mix. What roles does each element play in delivering value to customers?

5. Describe at least three characteristics that you want people to associate with your brand. (1-3 sentences. 3.0 points)

In addition, select an organization with which you are familiar and describe how each one of the four elements of the marketing mix affects the development of the organization’s marketing strategy and tactics.

5. What strategic considerations are involved in moving this brand forward? Make recommendations on suggested positioning, and delivering this positioning through the marketing mix.

A brand is utilized by a company to differentiate its products from others in the market. Some techniques for accomplishing this are through the use of distinguishing

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

The brand elements that would be most useful for differentiating the product of Tyson Foods from their competition are memorable, meaningful and transferable brand elements. Utilizing the brand elements of memorable and meaningful will build the brand of Tyson Foods. This brand element will convey a uniform quality, credibility and experience of Tyson Foods (Goodson, 2012). This will add value to the company because Tyson Foods is well known and they are more than just a product and name in the poultry industry. The brand element transferable will help leverage and preserve brand equality against challenges from Tyson Food competitors (Kotler & Keller, 2012). The brand element transferable is a defensive brand element choice criteria. Appropriating the transferable brand element will employ a defensive role in the brand elements. This should maintain the equity of the brand and preserve the brand in the face of various opportunities and constraints (Francis, 2010). This section will provide an elaboration of the brand elements memorable, meaningful and transferable and why using them will differentiate the product of Tyson Foods from their competition.

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

The brand must be distinct and stand out in ways that relevance to consumers’ needs so as to be chosen by the consumers among thousands of brands in the market. However, before consumers respond to the brand’s communication efforts, the brand must be understood and understood correctly. That familiarity leads to a strong, positive consumer-brand connection.

Brand competitors and the diversity of choice that is available to consumers, puts brands under pressure to offer high quality products and service, excellent value and a wide availability (Clifton et al., 2009). Brands must differentiate themselves from the competition and create an unforgettable impression.

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.

Since an increasing number of people focus on brand names instead of product, brands become important elements for customers to choose products (Carroll, 2008). When customers trust the brand, the benefits for the manufactures are generated. In the first place, brands can be used by products as the tool to identify and differentiate themselves from various products. Secondly, brands are helpful for companies to build a competitive advantage (Bick, 2009). Therefore, organisations take more attention to branding.

2. Identify all of the relevant brand elements (names, URL’s, logos, symbols, characters, spokespeople, slogans, jingles, packages, and signage).

2). Meaningfulness: Brand elements can take on all kinds of meanings or definition, with either descriptive

Marketing Management, 14e (Kotler/Keller) Chapter 9 Creating Brand Equity 1) The first step in the strategic brand management process is ________. A) measuring consumer brand loyalty B) identifying and establishing brand positioning C) planning and implementing brand marketing D) measuring and interpreting brand performance E) growing and sustaining brand value Answer: B Page Ref: 241 Objective: 1 AACSB: Analytic skills Difficulty: Easy 2) The American Marketing Association defines a ________ as "a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors." A) copyright B) trademark C) slogan D) brand E)