Q. 1
1) Email signature:-In order for a brand to sell, one needs to ensure that he or she has a logo, captivating tagline, together with media links, profiles of social media (such as Facebook and Twitter), blogs, and websites since most of your clients see your signature many times in a week.
2) The holidays: Since in this age getting a letter or card is uncommon, one should Make the most of the global digital burden and send your clients a physical card or gift, hence guaranteeing that one is unique from the rest.
3) Your attitude: If you intermingle on a daily basis with customers and clients, being a ‘can-do, anything is possible’ person will go a long way into bringing out the positive vibe to your clients, hence being a strong branding opportunity.
4) Answering the phone: Whoever picks up the phone in your office needs to say the name of the company, making sure clients recognize the name of the business.
Q. 2
Creating a strong brand, can be done using a series of steps, where each step is directed towards achieving the earlier step. The first step is identifying the brand, which answers the question ‘who are you? The second one is the meaning of the brand which answers the question ‘what are you?’ The third one is opinion on the brand which answers the question ‘what do I think or feel about you?’ The fourth one is relationships the brand creates that answers the fundamental question ‘what kind of association would I like to have with you and how much of it?’
Q. 3
Guarantee that your brand potential is clear. Be specific, clear, and ensure stability. Secondly concentrate on making a brand name that is well though up, even the most clever strategy for branding fail if the name is poorly though up. Thirdly understand the competition; No one operates alone without competition, while being original is important, awareness of competitors is important. Fourthly, fix goals of branding, without a target; it is very difficult to measure success. When and how one plans to achieve the goals should be clear in your mind. Last but not least, remain committed and flexible, success in branding cannot be achieved immediately; it needs a duty to remain focused. However, still, strategy can be changed along the way; therefore an open mind is important throughout the process.
Q. 4
The important parts of the definition of a brand should set limits for the brand and simplify its type of business. It should also clearly show how what makes the brand special. It should be very simple and understandable. It should motivate since employees working for the brand should be motivated to be employed by the brand.
Q. 5
When choosing the features of the brand, one should include the following:
IMPRESSIVENESS: this is a necessary condition to be able to create a good way to market the brand, in that a customer should be able to remember the brand.
MEANINGFULNESS: by choosing the important components to create a way to advertise the brand, the meaning of the brand can improve how people are willing to be associated with the brand. The components of a brand may have all kinds of meaning, from those that are easy-to-read, to those that influence.
PLEASANTNESS: Apart from the service or the product, how much would customers like the different parts of the brand?
TRANSFER: The fourth overall principle involves how brand can be transferred within the market across different places.
ACCEPTANCE: The more that a brand is accepted; the simpler it is to consider it. For example, fonts and logos can be set with a fresh look or a new design to make them look more modern and significant.
PROTECTABLE: the different parts of a brand, such as the logo, can be protected by law and in competition. By law, it is important to;
1. Choose parts of a brand that can be protected by the law even internationally,
2. Officially record them with the proper legal groups so that they can be protected.
3. Strongly safeguard your trademarks from unlawful competitive violation.
Q. 6
There are two main types of brand, Own label Brands and Manufacturer brands.
Manufacturer brands: These brands are made by producers and have their selected brand name. It is the producer’s responsibility to market the brand. The brand belongs to the owner. Manufacturers gain widespread distribution by building their own brand names, (such examples include retailers who decide to sell the brand) and create customer loyalty.
Own label brands: These brands are made and owned by businesses that function in the distribution channel – i.e. “Distributors”. Often these distributors are retailers, though not completely. From time to time, the whole variety of retailer’s products will be own-label. But, many times, the distributor will combine own-label and manufacturers brands. The leading supermarkets (e.g. Tesco, Asda, and Sainsbury’s) are exceptional examples of this. If it is carried out well, Own-label branding can regularly present the consumer with excellent value for money and offer the distributor with added bargaining influence when it comes to bargaining prices and terms with manufacturer brands.
Q7.
One-to-one marketing is founded in four main stages in order to accomplish its goals: identify, differentiate, interact and customize.
Identify: In this phase the main concern is to get to know the customers of a firm, to assemble useful data about what they like and how the firm can satisfy their needs.
Differentiate: To get to distinguish the customers by their value to the business, to know them by their urgencies in terms of their needs and divide them into more limited groups.
Interact: In this stage it is required to decide by which communication channel and by what methods communication is made with the customer. It is important to get the customer's attention by interacting with them in ways that are recognized as being the ones that they prefer the most.
Customize: It is desired to personalize the product or service to the clients wishes. The information that a business has about a client has to be used, and the data held must be considered, so that the client gets exactly what they want.
Q8. Should be relevant to objectives being measured
Agreement on how the results will be used
Use many methods to suggest more specific estimations
Test should be based on some theory or model of human behavior
Consider several contacts
Sufficient methods to avoid biases and outside influences
Samples must be “representative”
Tests should be Reliable and Legal
Q9.
Co-branding is not restricted from limitations. Co-branding may flop when the two products have different markets and are different. If there are any differences whatsoever in visions and missions of the two companies, then also combined branding may fail. Co-branding may upset the brands of the partners in a bad way. If the customers associate any bad experience with a brand, then it may harm the total brand fairness.
Q10.
1. Figure out the lifetime value of a new customer.
2. Create and construct a series of communication sets that you can use to turn strangers into friends. This would be a chain of letters, emails, scripts, surveys, webpages, trivia, quizzes etc. Simply the finest way to achieve this is through a rewards program.
3. Change everything about your advertisments to include a call to action.
4. Measure the outcome of every single set. Toss out the lowest 60% and substitute them with new suites. Continue trying the new tactic.
5. Measure how many agreements you can obtain. Measure how much agreement changes buying behaviour. Reward all parties on the agreement team for surpassing the targets.
6. Assign 1 person to watch the permission base. Having that person concentrating on raising the level of permission obtained from each person and reward them for resisting short term profits.
7. Work to reduce your costs by computerizing responses and moving to email and the internet.
8. Modernize your website from being a brochure to a motivated way of acquiring permissions. Your website should have an online loyalty program that gathers the name of individuals who are fascinated with your collection of merchandise and services. Online opinion polls and surveys will provide one with important information while rewarding your visions for contributing and building both permission and loyalty.
9. Frequently check your permission base to describe how deep your permission is. One can gauge it from 1 -10 to size depth.
10. Control your permission by presenting extra products and services or by marketing together with allies. Make the people responding familiar with your extended variety so that one can open up cross selling scenarios. One will also get more influence through planned partnerships with your dealers who may have goods that may interest customers.
Q11.
The test to brands: this difficulty is seen by old well-known brands in markets that have grown, where people within the market affect support a brand receives, marketing communications expenses and costs of the mistakes made by management.
The challenges to the marketing function: marketing arrangement of a company needs to be adjusted in order to face growing difficulty and variety of customer's wants.
The challenge of change: customer behaviour, new and technical development changes the pattern of the relationships between consumers and companies.
The challenge of channels of communication and new media: this refers to the start of new kinds of media and result of informational technology, which influence on arrival of fresh media and communications networks with consumers.
The challenge of balancing short-term with long-term health performance: with growing dedication towards short-term financial performance, the reducing of a long-term brand controlling positive influence has followed, which strongly affected health of the brand and its extra planned privileges.
The challenges to individuals: These concern things that are needed to change opinions from individual insight of results to a perception that requires a team to be formed (Richards, Morgan, 1998).
The challenges to value: maintaining the capital of a brand or value of a brand is a crucial challenge for brand administrators. Differences in brand fairness have an influence not only on a brand itself but on client's insight and behaviour (Lassar et al, 1995). Court et al (1999) cited Knox (2004) assumes that addition of value to a brand is one of the crucial issues which CEOs face in modern circumstances.
Q12:
Points-of-difference (PODs) – Benefits consumers with a strong association with a brand, and positively measure and trust what they could not find with a competing brand i.e. Points where one is demanding control over other merchandises in the category.
Points-of-parity (POPs) – Relations that are not really limited to the brand but may be shared by other products i.e. where one can at least match the rivals claimed profits. While points of parity not the reasons to pick a brand, their absence can be a reason to leave a brand.
Q13
A brand
A brand is a "Name, symbol, design, term or any other feature that identifies one vendor's good or service as different from those of other vendors.
Customer based brand equity
This is a brand equity based on customers' characteristics and purchasing behaviors. CBBE is a mode of evaluating the worth any brand in clients' minds. Branding can surge profitability in small-scale and large businesses by filling gaps in buyers' knowledge and by presenting guarantees. The customer based model concentrates the value in the minds of customers. It makes businesses plan their brands according to a defined order of qualitative common sense or customer impressions. These impressions laid out in pyramid shaped levels over and over. They include; salience, imagery, performance, meaning, feelings, judgments and resonance.
A brand mantra and why do it
Brand mantras are short, 3 to 5 word phrases that arrest the certain life of the brand. Their objective is to ensure all employees in a company and all the other marketing partners understand what the brand’s plain interest is to represent with customers so that they can correct their activities accordingly.
Brand audit
A brand audit is a detailed study of a brand’s current position in an industry in comparison to its competitors and the study of its usefulness.
Q14:
Brand equity is a term used in marketing, which defines the real value of possessing a well-known brand name. It’s built on the impression that a well-known brand name can produce extra money from products with same brand name, than from products with a not so well known name, customers accept as true that a product with a well-known name is superior to products with less well-known names
Strategic brand management is deliberately providing a product with a uniqueness that is agreed on all levels. This means both externally and internally and comprises of clients, employees, vendors and suppliers. Understanding the niche in which the product exists in gives it a RDB (relevant differentiated benefit). This leads to purchasing of that product instead of that of a rival.
