Salty Snacks

Brand equity is a business having the clout and power of its product(s) to leverage that equity or clout for its need to raise capital or increase customers. Developing brand equity is important because it allows companies to interact with their customers in order to induce loyalty which increases the growth of a company. Every company, established ones as well as start-ups have the ability to create brand equity. It is especially important for start-ups because in the first step of business, they would want to ensure that

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

Finally, Shamma (2011) claims that total brand equity consists of product and corporate brand equity which depends on company’s market, social and financial performance. Furthermore, there is a positive relationship between company’s corporate brand and socially responsible marketing and total brand equity (Shamma, 2011). Similarly, Grace and King (2011) talks about employee brand equity, which is the result of positive and productive employee brand-related behaviour and is strongly linked with brand’s strength (Grace and King, 2011). In contrast, Kay (2004) argues that corporate branding differs from product and service branding as it is aimed at different target audiences. For instance, corporate branding usually targets company’s shareholders and employees whereas product and service branding is focused on consumers who are not really interested in corporate brand identity (Kay, 2004). However, it is also claimed that some companies, especially those that started as niche businesses that appealed to small segments of socially conscious customers succeeded in creating strong and distinctive corporate brands. Referring to CC and Jim Beam corporation consumers are not that concerned about company’s overall image, however introduction of corporate social responsibility and socially

Brand equity is a consumer-based concept (Elliot 2017) and strategic asset of a company that encompasses the idea of the added value a brand contributes to a product. Influenced by consumer choices, it is the characteristic of a brand that indicates high levels of performance and determines the success of companies.

The purpose of this paper is examine operating budgets and variance analysis for Tasty Treats. It will discuss Budgets and fianances can be the sole reason a company succeeds or fails. It is important for a company to know how much they need for future inventory, the cost of materials to produce an item, the overhead costs, and any other items needed to manufacture their products. In this paper we will discuss some changes we should make to change the unfavorable items on the variance report.

Kotler and Keller (2012, pp. 271-272) maintain that there are three main sets of brand equity drivers:

Most people across the world have heard of the Oreo Cookie and have their own way they think the cookie should be eaten. Whether a person is a one bite at a time, dunked in milk, twisted apart, or the whole thing at once kind of person, the consensus is that people everywhere love to indulge in these cookies. After the New York Biscuit Company and the American Biscuit and Manufacturing Company merged in the late 1800’s, the company became known as the National Biscuit Company. In 1971, the National Biscuit Company began to call themselves Nabisco and in the year 2000, Nabisco and the company known as Kraft merged. Through the years, the Oreo has seen some changes, not so much in the shape or design of the cookie, but in the flavors offered. Such flavors now include Double Stuff, Fudge covered, the color of the crème for the different holidays, and Birthday Cake just to name a few. Since the creation of the Oreo Cookie, the Nabisco company has sold over 300 billion Oreo’s, which makes them the number one selling cookie in the United States (Rosenberg, 2016). Since Nabisco is the largest producer of snack cookies and crackers in the world and contributes thirty percent or more to Kraft’s yearly revenue. Therefore, they are considered the strongest anchor Kraft has in its entire company of operations. The Oreo Cookie is a good addition to the product portfolio of the Nabisco/Kraft company as this cookie is a dominant product in the United States and

One thing that can make or break a company is its brand equity. Brand equity is the value that comes with the familiarity with a company’s branding and the feelings consumers have towards that brand (Brand Equity, n.d.). A company with strong brand equity usually gives consumers a sense of reliability and value; causing a higher inclination to purchase its products. It usually takes

First of all, a strong brand can be seen as the condition for organisations to expand products, offer more service, and introduce new products (Chernatony and McDonald, 2003). Secondly, a strong brand can lead to growth marketing communication effectiveness (Keller, 2009). ‘To build a strong brand, the right knowledge structures must exist in the minds of actual or prospective customers so that they respond positively to marketing activities and programs in these different ways.’(Keller, 2003, p. 140) Furthermore, Kay (2005) asserted that the strong brand can be seen as a resource of management, which make brand extension easier and useful to build distribution network. Companies are not treated by the intermediaries (Chernatony and McDonald, 2003). Moreover, companies are comparatively easier to change price if they have strong brands. As Henderson, et al (2003) said, a strong brand can allow for premium pricing even still remain loyalty customers, which help companies to survive in the intensive competitive market.

Brand equity increases as brand loyalty, brand awareness, perceived quality brand associations, and number of brand-related proprietary assets increase and become stronger and more positive.

15. There are five key components—or pillars—of brand equity. Which of those components or pillars measures the breadth of a brand’s appeal?

One of the biggest issues of marketing today, is developing a valuable brand. Once a company is recognized as a brand leader, the company is able to expand its product line. Some of the biggest industries names are Gatorade, Apple’s iPhone, Google, and even America’s favorite past time: baseball, is learning ways to attract ticket sales to the stadium. Companies spend millions of dollars trying to develop a product line. Brand recognition is the most important part that any company or product can accomplish.

Within the context of evaluating marketing opportunities, brand value relates to the intangible aspects of a company that act as a major source of competitive advantage and benefit for both consumers and sellers. For example, a strong brand value allows for a faster purchase decision process for consumers as information can be gathered quickly, and alternatives will often not be considered with equal weighting. Healy confirms this stating that “Good brands create shortcuts in product choice” (p. 136).

A company (in this case, a coffee shop) needs to establish a clear and consistent brand identity by communicating its brand attributes in a way that can be easily understood by prospective customers. One of the firm’s most valuable assets for improving marketing productivity is the customers’pre-existing knowledge of the brand from the firm’s investment in previous marketing programs (Keller, 1993). According to Keller (1993), the differential effect of brand knowledge upon customers’ response to brand marketing is known as brand equity. Brand equity is related to customer satisfaction and brand loyalty (Nam, Ekinci, and Whyatt, 2011). Customer satisfaction is a mediating variable between brand equity and brand loyalty, while brand loyalty itself is the biased (non-random) behavioral response (purchase) expressed over time by some decision-making unit with respect to one or more particular brands out of a set of brands and is a function of psychological processes (Jacoby, 1971). Considering the importance of brand equity in companies’ efforts to develop positive customer perception and win the tight competition in their industry by achieving customer satisfaction and loyalty, this study aims to investigate

“Brand equity is the value of the brand name, its worth as an asset to the company.” (Marketing