With this level of development expected with its unique edge over other event management firms, the brand could be launched iin international markets as well. Some of the high potential markets, where event management companies could flourish, especially with high and unique expertise which this company offers, are China, India and Pakistan, where untapped talent is in a colossal capacity, thus bringing the brand a potential to grow in the market (Daye 2010)
Next in line is specifying the brand's definition which in this case is "For the betterment of the country, the nation, and ourselves" describing that the events arranged will be based on professional development of individuals whether it be students or corporate professional and thus benefit the society in the long run. The next step is developing the name, logo and tagline, all of which have been specified above (Chiaravalle and Schenck 2012)
For young students it's a high involvement product because most students do not earn and thus paying the registration fee in such conferences and participating in such competitions would involve many considerations and inquiry. This means that the brand when launching its first conference event will have to advertise and market extensively and at an extremely high level to convince people to participate (Fish 2009)
There is no tedious licensing involved for setting up except some activity-specific licenses or permits. Despite the presence of many event management companies, the demand for event management has been seen to rise continuously and thus setting up this firm would be an easy go (Guide Me Hong Kong 2012)
Here the brand is flexible enough to embed with any culture it steps forth in. The theory highlights a cultural icon, who is a person or a symbol serves as an identity of the brand (Heding, Knudtzen and Bjerre 2011)
This is important at the initial stage for making people aware of the brand's existence. Continuous short-term advertising would be required inn order to remind over and over the customers about the brand and not let them forget it (Kapferer 2012, p
It symbolizes quality product or service provision to customers and serves as an identity to the product/service being provided to the customers. From the manufacturer's perspective, brand name helps the producer protect/patent their product's unique features with a unique name (Keller, Parameswaran and Jacob 2011, p
As mentioned, we will be establishing an online website as well as a facebook page for the brand as it goes operational. With customers feedback easily gathered through websites, with the convenience of answering all customer complaints and with online statistical analysis to know about the customers' wants and requirements, the brand could be developed with a stronger image of rightfully fulfilling customers wants and thus help the brand successfully build high customer loyalty (Roberts and Schwaab 2006)
Sustenance in local market and Brand EquityManagement In order to implement suitable brand development strategies for this brand, we first need to answer three basic questions to understand the effectiveness and level of intensity as well as the type of strategy to be implemented to develop this new brand in market and create its saliency and equity. The three key elements required to be considered are "who are you?," "who needs to know?" And "why should they care?" (Yerian 2011)
The ability of Nike to continually evolve the women's fitness, Start, Converse and Fitness Dance products is to a large extent defined by how innovative their product strategies are in each of these areas (Collins, 2003). Figure 1: Boston Consulting Group Matrix Analysis of Nike's Product Line Star Products Question Marks Cash Cows Dogs Source: Analysis of SEC Filings by Nike based on concept from: (Cooper, Edgett, Kleinschmidt, 2006) Nike uses perception-based analysis to define their future product strategies based on attitudinal insights from prospects and future customers (Anana, Nique, 2010)
Nike moved quickly from selling footwear to accessories and then on to creating products for entire sports categories. This portfolio-based approach to managing their branding strategy has given Nike greater flexibility in defining which celebrity athletes they will rely on at specific stages of their product lifecycles (Collins, 2003)
The ability of Nike to continually evolve the women's fitness, Start, Converse and Fitness Dance products is to a large extent defined by how innovative their product strategies are in each of these areas (Collins, 2003). Figure 1: Boston Consulting Group Matrix Analysis of Nike's Product Line Star Products Question Marks Cash Cows Dogs Source: Analysis of SEC Filings by Nike based on concept from: (Cooper, Edgett, Kleinschmidt, 2006) Nike uses perception-based analysis to define their future product strategies based on attitudinal insights from prospects and future customers (Anana, Nique, 2010)
The Verismo System was displayed right next to the front door of a relatively large Starbucks store, where customers were invited to try it and make their own sample coffees. The experiential aspects of branding are just as important as the verbal and visual cues of branding in creating a unified brand strategy (Hanna, Rowley, 2011)
When seen from the context of a branding strategy the Verismo is a new product capable of producing an annuity revenue stream of revenue over time, with upsell and cross-sell opportunities designed in to the product strategy (Starbucks Investor Relations, 2013). Starbucks has also chosen to differentiate the Verismo through the use of a quality-driven image that concentrates on their experience and the uniqueness of their coffees and beverages (Park, Jaworski, MacInnis, 1986)
Starbucks manages their integrated marketing communications strategies (IMC) exceptionally well at the store well, as all elements were designed to orchestrate the core message of the Verismo launch. What was also interesting to observe about the launch of the Verismo system was how well integrated the website, social media and all other electronic channels were with the in-store launch promotions including the sampling day (Shalhoub, Belk, Terry, 2007)
Maintaining effective brand images for all of these brands requires talented human resources that also believe in the brand. Employees who are in consensus with an organization's brand are more likely to act consistently in ways supporting how the organization hopes that external constituencies perceive it and its products/services (Aurand, Gorchels, & Bishop, 2005)
The concept of branding involves consumers attributing human characteristics to products and brands. This is known as anthropomorphizing inanimate objects has been identified as a universal activity in virtually all societies (Fournier, 1998)
For example, the Disney brand is focused on children and family oriented goods and services while they market content that is directed at mature audiences under different brands. Marketing departments have found it has become increasingly difficult to reach consumers with their organization's message through traditional channels even when the traditional social media channels are considered (Kelly, et al
Brand management includes managing the tangible and intangible characteristics of brand. It means defining the brand, positioning the brand, and delivering the brand.
In marketing, brand management is the analysis and planning on how that brand is perceived in the market. Developing a good relationship with the target market is ...