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Brand Strength Analysis
{{marketing Brand strength analysis describes efforts to determine the strength a brand has compared with its competitors. Software companies Software brand strength is hard to measure accurately. Techniques from competitor analysis can be used to compare companies over time. Crowley and Zajas have analyzed how to determine the benefits of strong brand names in the software sector. Quantitative marketing research by sampling large customer bases using adaptive conjoint techniques and qualitative marketing research by focus groups and observing customers in stores are examples of techniques they recommend. Benefits to a company of good brand recognition include speeding up new product acceptance, enabling market share penetration by advertising, and resisting price erosion. During the decision process for software buying, usually 95% of customers buy a brand that they were previously aware of, 90% buy a brand that they considered beforehand, and 80% buy the specific brand they exp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. Brand names are sometimes distinguished from generic or store brands. The practice of branding - in the original literal sense of marking by burning - is thought to have begun with the ancient Egyptians, who are known to have engaged in livestock branding as early as 2,700 BCE. Branding was used to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot branding iron. If a person stole any of the cattle, anyone else who saw the symbol could deduce the actual owner. The term has been extended to mean a strategic personality for a product or com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competitors
Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition: Competition occurs in nature, between living organisms which co-exist in the same environment. Animals compete over water supplies, food, mates, and other biological resources. Humans usually compete for food and mates, though when these needs are met deep rivalries often arise over the pursuit of wealth, power, prestige, and fame when in a static, repetitive, or unchanging environment. Competition is a major tenet of market economies and business, often associated with business competition as companies are in competition with at least one other firm over the same group of customers. Competition inside a company is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competitor Analysis
Competitive analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats. Profiling combines all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring and adjustment. Competitive analysis is an essential component of corporate strategy. It is argued that most firms do not conduct this type of analysis systematically enough. Instead, many enterprises operate on what is called "informal impressions, conjectures, and intuition gained through the tidbits of information about competitors every manager continually receives." As a result, traditional environmental scanning places many firms at risk of dangerous competitive blindspots due to a lack of robust competitor analysis.(Fleisher & Bensoussan, 2007 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quantitative Marketing Research
Quantitative marketing research is the application of quantitative research techniques to the field of marketing research. It has roots in both the positivist view of the world, and the modern marketing viewpoint that marketing is an interactive process in which both the buyer and seller reach a satisfying agreement on the " four Ps" of marketing: Product, Price, Place (location) and Promotion. As a social research method, it typically involves the construction of questionnaires and scales. People who respond (respondents) are asked to complete the survey. Marketers use the information to obtain and understand the needs of individuals in the marketplace, and to create strategies and marketing plans. Data collection The most popular quantitative marketing research method is a survey. Surveys typically contain a combination of structured questions and open questions. Survey participants respond to the same set of questions, which allows the researcher to easily compare respon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conjoint Techniques
{{Unreferenced, date=December 2009 The conjoint was a basic medical qualification in the United Kingdom administered by the United Examining Board. It is now no longer awarded. The Conjoint Board was superseded in 1994 by the United Examining Board, which lost its permission to hold qualifying medical examinations after 1999. Medical education at the London Teaching Hospitals began centuries before there was a university in London to award medical degrees. Those who had taken BAs at Oxford or Cambridge, or occasionally started their pre-clinical education at universities further afield, could return there to take medical examinations, but it was open to most to take the examinations of the London medical corporations. As the early 19th century law restricting medical employment in the British military to those who had qualifications in both medicine and surgery was taken to require diplomas from different organisations, it became customary to take both the Licence of the Society o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Qualitative Marketing Research
Qualitative marketing research involves a natural or observational examination of the philosophies that govern consumer behavior. The direction and framework of the research is often revised as new information is gained, allowing the researcher to evaluate issues and subjects in an in-depth manner. The quality of the research produced is heavily dependent on the skills of the researcher and is influenced by researcher bias. Data collection Qualitative marketing researchers collect data ranging from focus group, case study, participation observation, innovation game and individual depth interview. Focus group The focus group is marketing research technique for qualitative data that involves a small group of people (6–10) that share a common set characteristics (demographics, attitudes, etc.) and participate in a discussion of predetermined topics led by a moderator. There are opportunities to conduct focus groups with the use of focus group software. There are many types of f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Recognition
Brand awareness is the extent to which customers are able to recall or recognize a brand under different conditions. Brand awareness is one of two dimensions from brand knowledge, an associative network memory model. Brand awareness is a key consideration in consumer behavior, advertising management, and brand management. The consumer's ability to recognize or recall a brand is central to purchasing decision-making. Purchasing cannot proceed unless a consumer is first aware of a product category and a brand within that category. Awareness does not necessarily mean that the consumer must be able to recall a specific brand name, but they must be able to recall enough distinguishing features for purchasing to proceed. Creating brand awareness is the main step in advertising a new product or bringing back the older brand in light. Brand awareness consists of two components: brand recall and brand recognition. Several studies have shown that these two components operate in fundamenta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Advertising
Advertising is the practice and techniques employed to bring attention to a product or service. Advertising aims to put a product or service in the spotlight in hopes of drawing it attention from consumers. It is typically used to promote a specific good or service, but there are wide range of uses, the most common being the commercial advertisement. Commercial advertisements often seek to generate increased consumption of their products or services through "branding", which associates a product name or image with certain qualities in the minds of consumers. On the other hand, ads that intend to elicit an immediate sale are known as direct-response advertising. Non-commercial entities that advertise more than consumer products or services include political parties, interest groups, religious organizations and governmental agencies. Non-profit organizations may use free modes of persuasion, such as a public service announcement. Advertising may also help to reassure employees ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. Brand names are sometimes distinguished from generic or store brands. The practice of branding - in the original literal sense of marking by burning - is thought to have begun with the ancient Egyptians, who are known to have engaged in livestock branding as early as 2,700 BCE. Branding was used to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot branding iron. If a person stole any of the cattle, anyone else who saw the symbol could deduce the actual owner. The term has been extended to mean a strategic personality for a product or com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Loyalty
In marketing, brand loyalty describes a consumer's positive feelings towards a brand, and their dedication to purchasing the brand's products and/or services repeatedly, regardless of deficiencies, a competitor's actions, or changes in the environment. It can also be demonstrated with other behaviors such as positive word-of-mouth advocacy. Corporate brand loyalty is where an individual buys products from the same manufacturer repeatedly and without wavering, rather than from other suppliers. Loyalty implies dedication and should not be confused with habit with its less-than-emotional engagement and commitment. Businesses whose financial and ethical values (for example, ESG responsibilities) rest in large part on their brand loyalty are said to use the loyalty business model. Marketing Brand loyalty, in marketing, consists of a consumer's commitment to repurchase or continue to use the brand. Consumers can demonstrate brand loyalty by repeatedly buying a product, se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Management
In marketing, brand management begins with an analysis on how a brand is currently perceived in the market, proceeds to planning how the brand should be perceived if it is to achieve its objectives and continues with ensuring that the brand is perceived as planned and secures its objectives. Developing a good relationship with target markets is essential for brand management. Tangible elements of brand management include the product itself; its look, price, and packaging, etc. The intangible elements are the experiences that the target markets share with the brand, and also the relationships they have with the brand. A brand manager would oversee all aspects of the consumer's brand association as well as relationships with members of the supply chain. Definitions In 2001, Hislop defined branding as "the process of creating a relationship or a connection between a company's product and emotional perception of the customer for the purpose of generating segregation among compe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Valuation
Brand valuation is the process of estimating the total financial value of a brand. A conflict of interest exists if those who value a brand were also involved in its creation. The ISO 10668 standard specifies six key requirements for the process of valuing brands, which are transparency, validity, reliability, sufficiency, objectivity; and financial, behavioral, and legal parameters. Brand valuation is distinct from brand equity. Brand value Traditional marketing methods examine the price/value relationship in terms of dollars paid. Some marketers believe customers perceive the value to mean the lowest price. While this may be true for commodities, some branding techniques are moving beyond this evaluation. Brand valuation emerged in the 1980s. Early pioneers in brand valuations included the British branding agency, Interbrand, led by John Murphy and Michael Birkin, which is credited with leading the concept's development. Millward Brown was also a leading brand valuer. Both c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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