Branding Pricing and Distribution
Presented to
Presented by
May 20, 2012
Abstract
The company chosen and used for this paper is a mobile transport company that caters specifically to senior citizens. This particular paper will explain in detail domestic and global product branding strategy, optimum pricing strategy and a distribution channel analysis that identifies the wholesaler, distributor, and retailer relationships including e-Commerce. Discussions within the paper will also include the use of a push or pull strategy, a distribution channel analysis and supporting references.
Domestic and Global Branding
A brand is the likeness, idea or image of a specific product or service that buyers connect with, by identifying
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It has been stated that differentiation in products that creates differences in customer valuation is the most prevalent type of competition ("Optimal pricing strategy," 2012).
Pricing Strategy Supporting the Brand
The pricing strategy supports the branding strategy by again, catering to the elderly. Most elderly are on a fixed income and rely on discounted and low cost products and services. As far as brand associations are concerned some researchers had narrated a minimum of nine brand associations. The associations communicate either the approach, or the meaning of product in specific terms of how the needs of customers can be fulfilled. In the present competitive environment a distinguished image of product is among the top priority of an entrepreneur. As products become complicated and the market more crowded, consumers become dependent on the image of product than its real attributes in the execution of purchase decision. (Aaker, D.A. Kumar and Day, 1998) Customer benefit refers to the particular needs and demands that are satisfied by products or services, for example control of cavity by toothpaste is termed as customer benefit which may be psychological, rational or expressive benefit. A rational benefit is closely associated with an attribute of product and would be an integral part of reasonable decision process. As different roles are performed by consumers, most of them have an associated concept and a need to narrate that concept. The purchase and
A brand is what can either attract people to you or make people avoid you; people would identify you by the brand you portray. One can communicate their brand through actions and words. “It is essential to understand that wherever we are, in whatever we do, we are all building our brand”.
A brand is a name, term, design, symbol, or any other feature that identifies one seller 's good or service
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
Aaker (1996) states brand is a product, an organization, and a symbol. This is where individuals differentiate themselves and stand out by having a unique value. A personal brand is the actual perception of others. When a person creates a personal brand, then they will stand out easily.
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.
Promotional strategy can be described as the function of notifying, persuading, and influencing the decisions of a customer regarding a particular product and/or service. Notably, certain promotional strategies are geared towards creating primary demand or desire for a general product category. The most common objectives of the use of promotional strategies across organizations include creating the primary demand for a product, expanding markets, maintaining the current market position, and presenting a corporate view on a public matter. The other important aspect in the marketing mix is developing an appropriate pricing strategy for the product and/or service. The main objective a suitable pricing strategy is to ensure that the product and/or service are provided at reasonable prices while the
Nowadays, the study of branding has increase in marketing. In addition, the retail sale is called the sale of a sector that involves the sale of goods from a specific
Brand is a term that enables the pubic to easily identify a certain company, their offerings in term of goods and product. It is the image that a certain company produces to the public. Brand is a set of expectations, memories, stories and relationship that engaged together, for a consumer’s choice to choose a product or service.
A Brand is a product, service or concept is the other product, service or concept distinguish public so that it can easily to communicate and usually sell. A brand name is the distinctive name of the product, service or concept. Brand is the creation and dissemination of the brand in the process. Brand identity can be applied to the entire enterprise and for individual product and service names. The American Marketing Association (1960) proposed the following company oriented definition of a brand as:
For brands to remain in today’s market place, they need to offer a more competitive added value in their products to cope with this shift of power from the brand to the consumer. (Toffler, 1980)
Branding, pricing, and distribution are all integral parts of a strategic marketing plan. Each segment of the plan needs to be developed individually with the entire culmination of the plan in mind. In other words, each segment should be a link in the chain to a completed marketing strategy. The ultimate goal is to reach a successful culmination of all three tiers that will have a successful impact in introducing the brand, pricing it correctly, and forming a distribution model that will maximize the competitive advantage to the company or service in question. This report will outline the steps in developing a local
The consumers in 21st century are very much brand conscious in whatever or wherever they purchase the products or services. The word brand comes out of the value of the products is higher among the existing products or the services (O’Reilly, 2011). The branding has unique feature which differentiate it from the other products and buyer of which also separates from the
A brand is a unique name and/or symbol! Intended to recognize the goods or services of either one seller or a group of sellers, and to differentiate those goods or services from those of competitors (Aaker, 1991; Stanton, 1994, and Kotler, 1996).
A brand can be a name, a symbol or a design used to I identify a certain product and to tell the difference from its competitors. Brand names, slogans, symbols, trademarks, designs and even the music they use can be used to differentiate one product from another and helps make it individual from the other main competitors.
A brand serves to add dimensions to a product to differentiate it in some way from other products designed to satisfy the same needs. The strength of brands is measured by the price differential that consumers are willing to pay over other products in the same category (Keller, 2012). For many young people, it is not buying a pair of jeans, but buying GAP or Tommy Hilfiger or Levis. As per the article in Business Week (Wechsler, 1997, p. 64) this “barrages of brand names offers the irresistible promise of instant cool.”