ACTIVITY
01/01/2023
QUESTIONS:
A.
1. Discuss what is a brand and its different functions.
• A brand is a name given to a good or service that gives it a unique
identity. In return for a strong identity and stronger confidence in its
purpose, a brand helps a product stand out from competing items of a
similar nature and allows it to command a higher price. Additionally, a
brand has a higher chance of success than a typical value.
2. Discuss the elements of brand and how brands add value to an
organization’s products and services.
• A brand is a combination of creates a similar both within and outside of
an offering that gives it a personality and sets it apart from competitors.
Kotler defines a brand as a name, term, sign, symbol, or a combination
of these that identifies the product's manufacturer or seller.
• Brand-specific Goods and Services
• Differentiating products and services is the key way brands add value. In
a competitive market, businesses provide comparable goods and
services with the same characteristics and advantages in an effort to
undercut one another's prices.
3. Discuss what is brand equity and its role in measuring brand strength.
• A brand's value is often referred to by the marketing term "brand
equity." The way consumers perceive and interact with a brand
influences its value. A brand has good brand equity if consumers are
fond of it. Measuring brand equity is advantageous to your business in
many ways and helps in building a strong brand. By using it, you will
have a better understanding of your target market, be able to tailor
your marketing efforts and be able to satisfy the wants of your
customers at every point in the sales funnel.
4. Explain how marketers use brand positioning to align marketing activities
and build successful brands.
• Strengthening brands requires alignment and consistency. An effective
tool for achieving this alignment is brand positioning. It helps you
determine the true meaning of your brand in your eyes. It serves as the
standard for determining which messages and endeavors will best
represent that brand.
5. Explain the importance of name selection in the success of a brand.
• The name must be unique, genuine, enduring, and memorable for it to
appeal to your target audience. It ought to stick to their thoughts,
foster and uphold consumer trust, and continue to be applied as your
business changes.
6. Discuss the role of packaging in the brand building process.
• Packaging serves considerably more purposes than merely preserving a
product. It is an important marketing tool that promotes branding,
highlights the best qualities of the product, and gives customers an
exceptional experience. It's a gate that can take your company and
goods to greater levels.
7. Explain key strategies for developing brands including brand ownership,
brand and line extensions, co-branding and licensing.
There are several key strategies for developing brands, including:
• Brand ownership: This strategy involves creating and owning a brand
from scratch. This can involve developing a new name, logo, and
branding elements for a product or service, as well as building a
reputation for that brand through advertising and marketing efforts.
• Brand and line extensions: This strategy involves extending an existing
brand to new products or services. For example, a company that already
has a successful brand of breakfast cereal might launch a new line of
granola bars under the same brand. This can be a way to leverage the
reputation and recognition of an existing brand to promote new
products.
• Co-branding: This strategy involves partnering with another company or
brand to create a new product or service. For example, a clothing
company might collaborate with a designer to create a co-branded
clothing line. Co-branding can help companies reach new customers and
can also help to establish credibility and trust.
• Licensing: This strategy involves allowing another company to use your
brand name, logo, or other branding elements in exchange for a fee. For
example, a toy company might license the rights to use a popular
cartoon character on its products. This can be a way for companies to
generate additional revenue and increase the visibility of their brands.
• Overall, these are some common brand development strategies, but the
choice of strategy will depend on the specific goals, targets, and
context of the brand/company.
8. Discuss the benefits of branding for the consumer, For Product and Service
Providers and for the Retailers.
-Branding can provide several benefits for consumers, product and service
providers, and retailers:
• Consumers:
-A strong brand can help consumers identify and trust a product or service,
which can make them more likely to purchase it.
Brands can also serve as a shorthand for a set of qualities or features that a
consumer may be looking for in a product or service.
Brands can also provide a sense of identity or status for the consumer.
Product and service providers:9. Explain the different types of brands and give
examples of each.
-A strong brand can differentiate a provider's offerings from those of
competitors, which can make it easier to attract and retain customers.
A well-established brand can also help a provider command higher prices for its
products or services.
A strong brand can also help a provider expand into new markets or product
categories.
• Retailers:
-Retailers can benefit from carrying well-established brands because these
brands can drive traffic to their stores and generate sales.
Brands can also provide retailers with a sense of prestige or exclusivity, which
can help them attract customers.
-Retailers can also benefit from the advertising and promotional activities of
brands, which can increase awareness of their store and the products they
carry.
-Overall, branding can act as a key tool for the product and service providers,
the retailers, and the consumers to create a shared understanding of the
features, services and quality of the product or service. Brands allow the
consumers to recognize, remember and trust the products and services and it
helps them to make a well-informed decision.10. Discuss the risks of brand/line
extension.
9.Explain the different types of brands and give examples of each.
There are several different types of brands, including:
• Manufacturer brands: These are brands that are owned and managed by
the manufacturers of the product. Examples of manufacturer brands
include Nike for footwear, Intel for computer processor, Coca-Cola for
soft drinks, Toyota for cars.
• Private labels or store brands: These are brands that are owned and
managed by retailers or stores. They are often considered as a cheaper
alternative to manufacturer brands. Examples include Walmart's "Great
Value" and Target's "Up & Up" products.
• Licensing brands: These are brands that are licensed to another company
or individual for use in the production of goods or services. Examples
include Disney-branded merchandise, such as toys and clothing, and
branded hotels or resorts like Hilton or Marriott.
• Co-brands: These are brands that are developed in partnership between
two or more companies. Examples include co-branded credit cards, such
as the Delta SkyMiles American Express card, and collaborations
between clothing companies such as Adidas x Alexander Wang.
• Endorser brands: These are brands that are associated with a celebrity or
other public figure. Examples include Michael Jordan for Nike's Air
Jordan brand, and Beyonce for Pepsi's brand.
• Heritage brands: These are brands that have been around for a long time
and have a significant history. Examples includes companies like Levi's
for denim, Harley Davidson for motorcycle, Rolex for luxury watches.
• The type of brand will depend on the company's strategies and goals, as
well as the industry in which it operates. Each type of brand comes with
its own set of benefits and challenges and companies need to consider
these when making decisions about branding strategy.
10. Discuss the risks of brand/line extension.
Brand or line extension can involve extending a successful brand or product
line to a new market or category. There are several risks associated with this
strategy, including:
• Dilution of the brand: If a brand is stretched too thin across multiple
product categories, it can dilute the brand's image and equity, making it
less recognizable and valuable.
• Cannibalization of existing products: New products in a brand extension
line can compete with and negatively impact sales of existing products
within the same brand.
• Failure of the new product: There is always the risk that the new product
in the brand extension line will not be successful in the market, which
can result in financial losses for the company.
• Customer confusion: If a brand extension is not well-matched to the
parent brand, it can create confusion among customers and damage the
brand's reputation.
• Additional costs: Brand extensions can require additional marketing,
advertising and research and development costs, which can strain the
company's resources and impact bottom-line profitability.
• Time and resources: New ventures require heavy investment in terms of
time and resources and it could be hard to take care of multiple fronts at
the same time.
Overall, brand or line extension can be a risky strategy, but it can also be
a way for a company to grow and diversify its product offerings if done
thoughtfully and strategically.
B. Make a video presentation creating a brand for BSBA Marketing
Management Students that will identify you from the different programs in
the College of Business Entrepreneurship and Accountancy (CBEA).
NOTE:
Maintain your groupings send your output in the google drive. Happy working
and keep safe everyone. God bless.
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Mary Joy Battad
Sheina Mae E. Fugaban
Laarnie Villa
Truman Keith Formoso Ravelo
Jan Llyod Galamay