Many companies in today’s world of globalisation and with increasing pressure to become cost effective and efficient, are looking for different ways to increase brand equity, brand affinity and in general to expand their brand awareness (Stutz & Schaffner, 2011). One consideration for companies in answer to this is co-branding strategies. As well as reinforcing brand image and, co-branding has also become an increasingly strategic tool to capture higher market share and increase profits and is seen to have the advantage of gaining access to new markets (Swaminathan, 2006). Advances in technology have made co-branding possibilities more accessible to many companies (Rid & Pfoertsch, 2013). Co-branding can be described as the combining of two or more brands into a joint product or when they are marketed together in some way (Kotler & Armstrong, 2012) or with two or more brand names being are presented to the customer jointly (Rao, Qu, & Ruekert, 1999).
The advantages to companies of embarking on any co-branding undertaking are well described (Grebosz & Otto, 2013; Stutz, 2011; Swaminathan, 2006) and almost considered even as a win-win for many organisation (Washburn, Till, & Priluck, 2004). However, there
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Brand extension can be either when a brand is extended into the same product category or into a new product category. Aaker and Keller (1990) describe this co-branding strategy as when a new product or service uses an existing brand name that had been associated with it before the extension. The strategy is that the brand equity and brand image of the brands used to create what is called the extension, transfers to the extension (Hadjicharailambous, 2013). This brand image quality of the existing or parent brands, and the perceived brand fit that are the main factors that influence the success of the extension (Meyvis, Goldsmith, & Dhar,
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 Lederer and Hill’s Brand Portfolio Molecule an organization’s product offerings are synergistically related. The Brand Portfolio Molecule identifies a large central or lead brand. This brand represents the most influential brand with the organization’s portfolio. Lederer and Hill also identify the strategic and support brands which influence customer purchases. The network of relationships that exist amongst the brands whether positive or negative provide a map for the marketer to manage the current product offerings the portfolio represents (p. 77).
The interactions between Europeans and Native Americans have not always been positive. There are numerous difference that interactions between the two groups. Europeans were known as a group that during the 16th and 17th century, made a great deal of change with their religious views. They were once without religion, but were known to turn to sects like Christianity and Puritanism. The Native Americans were a group known to be without religion. These people did not believe it one God and a book to follow. They believed in various higher beings that oversaw things like hunting, crops and sacrifices. These spirits didn’t represent a sense of hope or something to look forward as did being a Christian. William Bradford and Mary White Rowlandson were two religious people who came from England to the new world in order to seek new opportunities in their religious pilgrimage. Upon their arrival to Massachusetts, they lived in settlements were next to Native establishments. Both women told stories of the horrors that the Natives put upon them.
Catherine, W., Tat Pui, L. and Henrik, U. (2011) The Roles of Branding for a Brand Entering
There are fears and risk elements associated with co-branding when two organizations market its names alongside each other. The main risk exists in terms of damaging the existing product’s strong brand equity (Payne, Storbacka, Frow, & Knox, 2009). Other hazards are linked up with compatibility between brands, market violations, partner’s agreement commitment, and potential conflict (Berkowitz, 2011).
In determining whether or not a brand extension will be successful, corporations and marketing strategists must attempt to build strong correlations between the existing brand and/or product line. A strong pairing or high-fit brand extension immediately associates a new line or extension with currently held views of consumers. The more dissimilar a new product
As far as the pure economic aspect of the decision concerns, the implementation of a corporate branding strategy would increase the Customer Lifetime Value and therefore the profits of the company, as calculated in the attached
A company may use dual branding when they want to increase the market share, saturating the market by filling all price and quality gaps and catering to brand switchers users who like to experiment with different brands, a dual brand strategy also may be applied when two companies want to
As public health professionals we have a Code of Ethics that dictates how we should care for the community. The Code of Ethics and Healthy People dictates inclusion of all people not relative to gender, race or religion (Healthy People 2020). Health educators, as their Code of Ethics dictates should be influenced by facts and evidence irrespective of their social or moral views, just as Healthy People uses measurable goals and data to shape public policy. For example, political agendas can trump best health interests of minorities and the disadvantaged. Kass (2001) states, “public health has affirmative obligations to improve the public’s health and arguably, to reduce certain social inequities”.
As markets and customer needs evolve; brands can lose customers to new competitors. In addition, brands can become diluted as product or service offerings become commodities. When a brand loses meaning and relevance to target customer, a new brand promise should be defined so the brand can be repositioned.
A company may use dual branding when they want to increase the market share, saturating the market by filling all price and quality gaps and catering to brand switchers users who like to experiment with different brands, a dual brand strategy also may be applied when two companies want to
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.
This report will explain how Intel has developed a mechanism to align its branding and marketing strategy with those of clients in the home and office market computing sector. Intel’s use of an integrated co-branding
However, this strategy also has some disadvantages that may hurt the company’s development: The first is the fierce competition between these brands. And it is important to note that using this strategy means facing higher risks. Cost control is another big problem. Obviously, the more brands there are to manage, the higher the costs. For this reason, many prudent companies prefer brand extension over multi-brand management.
In such cases, brand extension is a very feasible scenario where in both the parent and child product enjoy a symbiotic relationship.