Category: Brand

Introduction

Today, companies face many problems and difficulties. Every year a considerable number of new products appear on the market; most product categories are represented by many brands, numbering in the tens or even hundreds. Companies have begun to pay considerable attention to the successful formation of their branding. It provides them with access to new segments and markets, additional consumers, the ability to create new products, or modify the old ones. Successful formation of a brand serves as a sustainable competitive advantage, as well as results in significant profit margins and notable performance, transforming the company into a recognizable actor. This paper aims to investigate the core aspects of branding, as well as provide several specific examples of it.

Theoretical Background

Branding is part of strategic management, and the primary responsibility of the brand is not merely communicating with customers, luring their attention, but representing the company (Shaw, 2018). Nevertheless, for most firms, marketing and corporate communications are the most powerful, but not the only, branding tools (Dibb, Simkin, Pride and Ferrell, 2019). That is why, in order to achieve the greatest benefit for the company, the communicator must have a global vision of the brand, its essence, role, features.

Then, branding may be perceived as an action aimed at creating a long-standing choice in favor of a product founded on the joint influence on a customer of trademarks, packaging, and advertisement, unified by a particular notion, which distinguishes the product from rivals. (Shaw, 2018). It should also be mentioned that the concepts of brand and trademark should not be confused; the former is a broader concept (Dibb, Simkin, Pride and Ferrell, 2019).. In addition to the name, images, and certain symbols, the brand also includes the product itself and its inherent characteristics, associations, and expectations of consumers. It also contains data on the target consumers of the product and the manufacturers promise of some benefits that consumers will receive by purchasing this product.

Brands are a complex of impressions that remain with a customer as a result of using a product. The brand contributes to the following; first, it is identifying or recognizing the product when it is mentioned. Second, it is detaching from competitors  selecting the product from the general mass, as well as creating an attractive and trustworthy image for consumers. Third, it is focusing on various emotions that a client associates with the product. Fourth, it is making a purchase decision and confirming the correctness of choice  getting satisfaction from the decision made. Finally, it is forming a group of regular customers who associate their lifestyle with the brand.

The presence of brands means that the goods will value more, the idea will have more adherents, and more voters will vote for the politician. Over time, any product becomes obsolete; when outwardly a product has not changed for several years in a row, it has almost no chance of remaining at the peak of consumer attention. The updated product attracts more of this attention. Today, even the smallest firms perceive the process of brand formation as a crucial one. Such a state of affairs takes place because of the fact that a significant brand may become the foundation of an enterprises profitability. Given the fact that offers from different firms tend to be more and more similar, the capability to stand out among rivals starts being critical and vital. Hence, brand identity and uniqueness are essential as they imply the distinguishable peculiarities of brands, as well as its core characteristics.

Branding strategy and tactics

A strategy is a long-standing goal and long-term approach to brand creation and development, which allows one to strengthen the brand position and displace competitors from the lead in a particular market segment. Tactics are short-term tools that help one succeed against competitors in the marketplace. The branding policy defines the next steps for the firm. This sophisticated and time-taking process may be broken down into the following. (Bilekov, 2020; Tubik Studio, 2017).

Brand Research

Before moving on to brand development, a firm needs to conduct an exact extent of marketing research. The latter is the initial and defining step in developing a branding strategy. It is necessary to collect and analyze a vast amount of information  to study the consumer, company, product, or service, as well as the competitive environment in which the struggle for recognition is to be fought.

Data for research can be obtained through questionnaires, focus groups, hall tests, and other appropriate methods. The reliable information makes it possible to determine the correct direction of brand positioning, the essence of which will be clear to the consumer (Bilekov, 2020). The best way to develop an effective branding strategy is to involve a social science and marketing research company. Marketing research data helps to develop the basic idea of the brand  product positioning in the market. The name, logo, packaging design, and corporate identity of the brand are being thought over. All these elements must be successfully combined with each other; they must create a holistic image of a brand that consumers will trust.

Brand development

The role of the concept, which is formed in the process of brand development, is very significant from the prospects for future marketing dividends. A successful conceptual solution is a factor that increases the level of consumer loyalty, brand awareness, sales growth, and the ability to set a higher price (Tubik Studio, 2017). Conventionally, the general idea of a trademark can be divided into such terms as positioning, identification, the definition of values, and branding strategies.

Positioning and Identification

The intended place of a product in the market is determined by the target group, price category, competitive advantages (if any), as well as direct benefits to the consumer. By answering these questions, you can determine the general idea of positioning. At the next stage, it is necessary to highlight the distinctive features of the future or undergoing a brand restyling procedure. In the process of identification, the qualitative characteristics of the product are determined, which are revealed using the senses  for example, taste, aroma, color. It is also necessary to decide on the associations that the product should evoke from the consumer. This is the process of forming the brand image, which is supported by means of marketing and advertising.

Formulating Values

The system of values of any trademark should be close and understandable to the target audience; otherwise, it will not be possible to reach out to a potential buyer. At the same time, the driving idea itself and the main value carry a grain of uniqueness, giving the brand a unique, individual style that allows it to stand out from the competition.

In practice, branding means numerous advantages for the seller: from customer loyalty and high competitive potential to an increase in the value of assets due to a rise in the market value of shares. The conceptual construction of the brand development scheme greatly facilitates the search for an interested investor to bring the project to life. Therefore, before any startup, it is necessary to identify a brand, develop principles for its positioning, and formulate core values. Such clarity subsequently facilitates the selection of marketing communications tools and other brand attributes  logo, slogan, etc.

Brand Promotion

In contemporary markets, the promotion process of brands  accompanied by the creation of a significant attitude towards it  is an essential aspect of the firms success (additionally to marketing researches). When consumers are confident that the products and services they get are of high quality, then they start being regular clients of the enterprise in the long run (Martinez, 2017). It should be noted that the advertisement does not always contribute to the appropriate brand promotion. Plenty of recognizable firms lure and retain their client base because of a particular approach to them, establishing beneficial relationships. During this process, these firms understand more regarding the interests and requirements of actual and potential clients, as well as make sure that these clients are provided with all the data they need to know about the corporation.

Affairs within the scope of brand promotion are to be conducted during the launching steps of its creation. If the latter is not done in a timely manner, all struggles of marketing services might not make any sense. Moreover, the unmonitored processes of the introduction of new brands may result in undesired outcomes. Simultaneously with the idea of the creation of a new brand, brand promoting strategies are to appear as well. Only these strategies may lead to the success of the company.

Brand Management

Brand management may be defined as the process of the creation of specific brand characteristics, modifying them to significant effectiveness, verifying that these specific characteristics are not being adjusted for tactical gain, and planning crisis management of the brand, if necessary, in order to strategically increase brand value. When managing their brand, companies often find themselves faced with a situation that their brand does not fully meet the needs of the market (Fulmer, 2020). There might be a number prerequisites for this: the market is oversaturated with various brands, and customers are not able to distinguish substantial differences among them; products are sold through a retailer who does not aim to purchase expensive brands, giving preference to cheaper offers; a technological change is occurring, which allows the brand-holding company to create and sell a new, more affordable product at high margins.

As a rule, the main pressure comes from the bottom of the market, and companies have to either cut prices or come to terms with the falling market share. To counter this trend (or get the most out of it) firms tend to offer lightweight variants of their traditional product with solid brands. The most challenging thing, in this case, is not to damage the trademark, especially in that part of it, which is associated with the quality of the goods it represents (DeVries, 2019). The problem is that price cuts affect user experience more than any other brand-related promotion. Psychologists have long established that people are much more impressed by negative information than positive information.

However, going down is not always too risky  skillful brand management in the lower market segments can bring a lot of profit to the company. There are a number of means to separate the main brand and its cheaper modification in the minds of consumers. The key to reducing the risk of brand damage when creating reasonable variations is to rebuild the new product from the previous category. The bottom line is that consumers can divide brand identities by product class, but they need help with that. If the products are very different from each other (for example, food and clothing), there will be less risk of negative quality carryover. On the other hand, of course, there is a risk that such distant products under the same trademark will not add anything to each other but will only create a sense of discomfort for the buyer.

The peculiarity of building a strong brand is the exact choice of means of marketing communications at the right time to overcome specific barriers in the decision-making process. Companies with strong marketing are constantly experimenting with new means of communication and collecting a database of how effective these tools are for certain categories of brands. For example, in recent years, such forms of marketing communications as direct mailing, promotions, and the creation of innovative Internet sites have been increasingly developed. The cost of contact with the buyer can be the primary weapon to overcome barriers in the purchase decision.

Brand building structure and its milestone policy

It seems reasonable to state that there are two primary policies being adhered to in the framework of brand management  Western and Asian. The latter implies the emphasis of marketing affairs on corporate brands (Somok, H, no date). A product provided by a firm has the same name, essence, strengths, and values. International Japanese brands are, as a rule, the names of groups: Mitsubishi, Sony, Toshiba, Matsushita, and others. In Japan, a companys reputation plays a much bigger role than a products reputation (Roll, 2006). Until recently, this has not been observed in leading Western firms, with the exception of business-to-business.

In accordance with the core ideas of the Asian approach to brand management, Toyota, for instance, arranges its advertisements financial flows in favor of maintaining its corporate brand within the scope of the international market, putting no emphasis on cars models. Similarly, the corporate brand Sony, Honda, and many other brands are promoted. Nowadays, the Asian approach to branding has become quite acceptable for a plethora of manufacturers. The strength of a corporate brand is visibly demonstrated by the cases of a great number of Japanese and other firms that promptly developed an international business system. The latter resulted from the focus on corporate solidarity and shared merits. The Asian model of brand management has many advantages over other approaches to brand policy (Roll, 2006). A strong corporate brand builds the companys reputation while providing a significant competitive advantage, investment attractiveness. From an economic point of view, the Asian approach pays substantial attention to the point that the processes of the development and implementation of a new product that will have the same name as others imply fewer expenses and are quicker in comparison with promoting separate brands. The advantages of such a model are obvious, but non-compliance with the principles of corporate brand management undoubtedly leads to a decline.

The use of the Asian model of brand management is associated with certain points. First of all, the availability of differentiated management systems contributes to the fact that it is not possible to promote single brands in a number of product segments. The development of diversified production complicates the spread of corporate individuality to all subbrands of the company. The Asian approach is efficient for a single-market and non-diversified firm.

The Western approach, in turn, is founded on the idea of product differentiation, in accordance with which these products have visible distinctive traits. Examples of the Western approach to brand management are the practice of such firms as Procter & Gamble, General Motors, Unilever, Wimm-Bill-Dann, which are actively developing certain product categories under independent brands. WBD promotes individual brands in different markets: the dairy market, baby food market, juice and mineral water market, representing brands in different price segments. The obstacles in the framework of managing brands  within the scope of the Western approach  generally refer to an over-diversified system of brands policies. Usually, it is not easy for customers to realize the core idea of all the subbrands, which does not contribute to the individuality of the latter (Whitfield, 2019). Companies that use this model of brand management traditionally lead the rankings of the largest advertisers in the global market.

The Western approach pays special attention to the psychological characteristics of the brand, differentiation, while the Asian involves investment in the corporate brand and, to a much lesser extent, at the product level. The practical difficulties associated with the use of both Western and Asian approaches to brand management force companies to adapt traditional mechanisms of brand management to the specifics of their brands. As a result, mixed forms of brand management, combining individual elements of both models, have recently become increasingly popular.

Sustainable Competitive Advantage

Thanks to a strong brand, it will be easier for a company to attract new clients, to interest regular customers, for example, when launching a new product or service. The most significant model, in this case, would be Apple. Apple manages to sell products at a reasonably high price while selling in huge quantities. This happens solely because the company understands the real rationale behind buying premium products.

A brand as an instrument of sustainable competitive advantage is designed to capture niches in the minds of consumers. However, the company does not get customer loyalty for free. This loyalty may be perceived as a measure of the consumers brand loyalty (DeVries, 2019). Through such a perspective, loyalty depicts the extent to which consumers tend to switch to other brands, especially in conditions in which the brand changes any of its indicators. If this loyalty is solid, a consumer willingness to shift to another company declines. This is the basis for the balance of advertising costs and returns from it. Thus, branding is an integral component of an organizations competitiveness.

Conclusion

In conclusion, it seems reasonable to state that branding policy is a crucial foundation for a successful business. The above research investigated the essence of branding, its process, peculiarities of Western and Asian approach, as well as discussed brands as a competitive advantage. It should be stated that branding is an integral part of marketing, and studies on this vital aspect are to be conducted through various perspectives.

Reference List

Bilekov, B. (2020) The branding process explained. Web.

DeVries, H. (2019) How branding provides a competitive advantage, Forbes, Web.

Dibb S., Simkin L., Pride W., and Ferrell O. (2019) Marketing, Concepts and Strategies. 8th ed. Andover: Cengage.

Fulmer, C. (2020) What is branding and why is it important? Web.

Martinez, A. (2017) Building a brand strategy: Essentials for long-term success. Web.

Roll, M. (2006) Asian brand strategy. New York: Palgrave Macmillan.

Shaw, A. (2018) What is a brand  Meaning & important brand concepts. Web.

Somok, H. (no date) How to build a strong brand culture in the Asian market. Web.

Tubik Studio (2017) 6 creative stages of branding design: Step-by-step guide. Web.

Whitfield, C. (2019) Might archetypes in branding be universal after all? Adapting a Western Construct of psychologically based Jungian brand archetypes to assess the distinctiveness of Beijing and Shanghai as city brands. 6th Corfu Symposium on Managing & Marketing Places. Corfu, Greece, Web.

Introduction

In their day to day activities, organizations encounter factors from both the internal and external environments and it is how well they handle each one of them that will determine their level of success. Managers have to anticipate the fluctuations in such factors and proceed to take appropriate measures to shield their organizations from being affected negatively. The following is an overview of both the internal and external environments that will equip managers with the knowledge necessary to manage the factors effectively.

Internal environment

The internal factors are those that operate within the business organization and are relatively determined by its policies and resources. The organization has some relatively degree of control over these factors and can customize them to suit the trends being witnessed in the market. The following are some of the factors.

Value systems

These are the strategic decisions that have been made by the top management and tend to determine how the operations of the organization will be undertaken. The value systems for Johnson & Johnson include its missions, goals, objectives, and business choices that it upholds in running its affairs.

Organizational structure

The organizational structure draws the relationships between the tasks and resources. The type of structure that has been implemented in an organization will show the chain of command implying how various hierarchies in the organization report to the others. Johnson & Johnson has a vertical structure that implies power is centered at the top.

Resources

Resources are the assets that are to be found in an organization. The levels of resources determine to a great extent the capacity of an organization and how it is able to undertake investments among other operations (Afarjanc, Serapinas, & Daugvilien, 2008). They are also possible sources of competitive advantages and an organization has to consider the constituents in terms of how they complement one another and also how they are utilized. The major resources that are present at Johnson & Johnson include financial, information, raw materials, physical assets, and employees.

Brand equity and corporate image

Brand equity and corporate image refers to how the stakeholders in the market perceive the company as well as its output and tend to affect the manner in which they relate to the company (Mahnert & Torres, 2007). To the consumers it will determine how they make purchase decisions and to the investors and creditors, the manner in which they are willing to extend financial assistance to Johnson & Johnson to undertake ventures or purchase supplies on credit respectively.

External environment

The external environment refers to those factors that are to be found in the external environment of an organization. They are determined by the fluctuations in this environment and organizations have little control over them which creates the need to comply with them to avoid getting affected negatively (Ahmadi, 2010). These factors are divided into two; macro and micro factors.

Macro factors

Macro factors are those in the entire market or economy and affect all organizations irregardless of the industry in which they operate in and include political, economic, social, and technology.

The political factors refer to those aspects of a market involving the decisions that have been intentionally or unintentionally made by the authorities and affect how business is undertaken in the entire market. The economy factors on the other and refer to the conditions in the market that affect the level of demand supply. Social factors are those resulting from the profiles of the society and affect the trends and demand in the market. Finally, the technology factors refer to the advancements and innovations that have been made in a market and affect the way business is conducted.

Micro factors

Micro factors are those found in the external environment that impact only on individual companies. They are the various external stakeholders of an organization and include consumers, competitors, suppliers, and society.

The consumers are the most important of all these stakeholders as they affect the success of a company by the level of purchases that they make (Kloviene & Gimzauskiene, 2009). For Johnson & Johnson, they are those that purchase the various pharmaceutical products that the company sells in the market. The competitors are those organizations that deal in a similar market as an organization and target the same customers as well. They include companies such as GlaxoSmithKline and Bayer HealthCare. Suppliers provide raw materials among the other inputs that are utilized in the production of the final output. Farmers who produce medicinal herbs utilized which are processed into the manufactured drugs and oil vendors are among the major suppliers of Johnson & Johnson.

Johnson & Johnson strengths seem to be emanating from its multinational status. It has massive resources that it utilizes in undertaking various investments some of which are in different fields thus diversification. It also undertakes research and developments that provide quality goods which have managed to build loyalty in the market. In efforts to protect these quality innovations, it has taken patents to restrict their unauthorized use.

The weaknesses are mainly witnessed by the overspecialization in one segment implying that it has high investment risks. It has also attained maturity and stopped progressing due to its innovations being copied thus reducing its competitive edges.

The opportunities are mainly presented in the market due to the wide market in which it operates. Its large scale operations also reduce marginal product costs and have made the processes much effective.

However, threats for Johnson & Johnson mainly revolve around lose of market shares due to increased competition and have been worsened by the dented image that resulted from product recalls. Furthermore the overregulation of the drug industry also does not augur well with its efforts to increase profitability.

Appropriate strategy

From the SWOT Analysis, the major factor holding back Johnson & Johnson from success is its maturity stage. The company has to reinvent its ways and go back to its past ways of success. Therefore, it is important that it conducts product developments to differentiate its products that have already been matched by the competitors (Robinson & Lundstrom, 2003). In the event they are successful in doing so, they should embark on an aggressive marketing campaign to inform the consumers about these new developments. Banking on the loyalty they have so far managed to gain in the market, it would not be difficult to convince the consumers to make purchases.

References

Afarjanc, E., Serapinas, D., & Daugvilien, D. (2008). Employees Impact to Quality Management System Effectiveness of Higher Education Organization. Economics & Management, 158-159. Retrieved from EBSCOhost.

Ahmadi, F. (2010). Survey Relationship between OCB and Internal & External Factors Impact on OCB. European Journal of Social Science, 16(3), 469-486. Retrieved from EBSCOhost.

Kloviene, L., & Gimzauskiene, E. (2009). Performance Measurement System Changes According to Organizations External and Internal Environment. Economics & Management, 70-77. Retrieved from EBSCOhost.

Mahnert, K. E., & Torres, A. M. (2007). The Brand Inside: The Factors of Failure and Success in Internal Branding. Irish Marketing Review, 19(1/2), 54-63. Retrieved from EBSCOhost.

Robinson, G. J., & Lundstrom, W. J. (2003). Market expansion strategy: development of a conceptual market expansion decision scorecard. Strategic Change, 12(5), 259-272. doi:10.1002/jsc.642

Mars has positioned itself on the global market as a responsible business that challenges its competitors marketing strategies by following its own strict ethical guidelines. To be more exact, the company supports the efforts to minimize obesity among children and adults across the world (About, no date). In addition, the organization seems to carefully choose its marketing placements as not to present the advertisements to the children, as was mentioned in the case study (WARC, 2019). However, I think that their approach to responsible business is a strategy that the brand uses because it wants to be viewed as a responsible sweets manufacturer by the customers.

To begin with, the company attempts to create an ethical picture of its brand. That is why the organization supports a healthy lifestyle and usually hires women for the advertisements to regard feminism positively (WARC, 2019). However, sweets are a preferred product for children, and the company does not take action towards ensuring that this audience and their parents are aware of the potential consequences of the excessive consumption of sweets. Moreover, Harris et al. (2020, p. 1284) found that industry self-regulation and most government policies do not address in-store marketing, including shelf placement and retail promotions.One way of balancing the issue of making profits with being a responsible business is raising the consumers awareness about the potential dangers of sweets overconsumption. Apart from not appealing to children in their advertisements, Mars can create campaigns that actively promote conscious consumption of sweets and teach parents to pay more attention to the foods that their children are eating. Thus, by actively engaging in the promotion of healthy lifestyle choices, Mars can counter the ethical issue it faces.

Reference List

About. no date. Web.

L. Harris, J. et al. (2020) Marketing to children in supermarkets: an opportunity for public policy to improve childrens diets, International Journal of Environmental Research and Public Health, 17(4), p. 1284.

WARC. 2019. Mars makes the case for responsible marketing [online] Web.

My undergraduate experience has provided me with knowledge and practice that will help me become an executive assistant in a real estate firm. Furthermore, during these years of study, I have made several valuable acquaintances that might be helpful in the nearest future. However, the most important thing is that my undergraduate experience assisted me in understanding my strong and weak sides and establishing my brand.

A strong personal brand is crucial for the launch of the career and further development at the workplace. A personal brand contains several characteristics, the most precious of which are expertise and unique value. In addition to that, another vital characteristic of a personal brand is the message you want to share with the world (Peter and Gomez, 2019). It is not an easy task to create a strong personal brand because this process requires a lot of hard work, effort, and constant self-improvement.

The real world behind the walls of the university seems to be scary and unknown. Graduates often face a midlife crisis when adapting to adult life (Robbins and Wilner, 2001). The fact that I understand who I am and what my personal brand is testifies that I have successfully coped with this crisis phase of my life. The primary characteristic of my personal brand is tenacity and diligence. Being a student, I manage to combine internships with study and leisure activities. What is more, I am a perfectionist and always strive to complete any assignment at the highest level. In spite of the fact that I do not possess enough expertise in the field of real estate, I am willing to acquire new knowledge and develop new skills. If I had to describe my personal brand in one sentence, I would say that I always strive forward and set big goals.

There are multiple ways to communicate your personal brand, including interaction with colleagues and potential employers, mentoring other people, and asking for recommendations. In the epoch of social media, it is also essential for mass-media channels to demonstrate a personal brand (Kramer, 2012). In other words, you should be visible and active on social media such as Facebook, Twitter, and LinkedIn because it is the way to present yourself as an expert.

References

Kramer, Eric. P. 2012. Active Interviewing: Branding, Selling, And Presenting Yourself to Win Your Next Job. Boston: Course Technology.

Peter, John and Gomez, Savilene Julia. 2019. Building Your Personal Brand: A Tool for Employability. The IUP Journal of Soft Skills 13(2): 1-15.

Robbins, A., & Wilner, A. (2001). Quarterlife crisis: The unique challenges of life in your twenties. Penguin.

Summary: Introduction

The dynamics of the current business environment have continued to complicate how business operations are conducted throughout the world. Marketing strategies, which are part of the most significant component of any business, have consistently changed from one industry to the other, and sometimes introducing a new product is a marketing strategy in itself (Gunelius 2007). On the whole, variation in the marketing and sales processes calls for special attention to be accorded to the different strategies chosen for use in the sales and marketing, especially monitoring their scope of performance of new products (Thompson, 2003). Thompson (2003) agrees that the marketing function has been under insurmountable pressure to take the leading role for business returns, yet measures to track marketing strategies have been increasingly rendered limited by marketing metrics and measurements practices that portend some difficulty in arriving at choices or understanding their role.

This paper aims to explore a potential new product, Chocolate, in Northern Foods Company. For the sake of this paper, the chocolate brand is Chocolate Milky, which is a fast-moving consumer good (FMCG). With this product in a postmodern society, the paper aims to explore its likely performance in the market, brand measurement, arguments for its marketability and potential risks when it is launched among others. This product will be targeting United Kingdom residents.

Lifestyle Theory and Consumerism

Lifestyle Theory is arguably a widely recognized holistic approach in deciphering how a product like Chocolate Milky or service can reach potential consumers. This theory evaluates markets based on social sciences concerning (or in exclusivity from) other factors such as age, sex and race. This theory is, on the whole, premised upon the fact that, oftentimes, people who are socially similar and have the same attitude tend to consume the same way or things. For instance, in the developed world like the UK, where people have similar social attitudes consumption of new and trendy products seems fashionable. This will work well for Chocolate Milky as it targets the consumer society of the entire United Kingdom. This is because the culture of consumerism takes a bigger toll in such places as the UKwhere every person might want to taste the new Chocolate Milky in our case study (Thompson, 2003).

Indeed, it is increasingly clear that consumer in the modern world is exposed to several choices which come in several dimensions (Howgwill 1998). This is anchored on the fact that we live in a postmodern world and therefore the attempt at building a culture of consumers being the drivers of decisions and processes that manufacturers and distributors engage in society cannot be ignored (Philip, 2006). Thus branding and its measurement will take centre stage for Chocolate Milky. Arikan (2009) notes that one of the escalating habits nowadays is that with the arrival of convenience stores, people spend much of their shopping in supermarkets and sometimes the choice of goods is based on how popular a brand is and not its value. Therefore, branding will be seen to make Chocolate Milky more popular and a response to social market needs. According to Arikan (2009), on average in the UK, most people consume goods that have good brand names. Overall, the argument that consumer society is driven by choices as far as consumption of goods and services are concerned must be examined in several ways (Howgwill, 1998).

Buying Arguments for Chocolate Milky: Focus on Brand Tracking and Stimulus-Response Model

Janiszewski and Warlop (2003) observe that while many people have never realized it, branding strategies have roots in psychological models. One such model is the stimulus-response strategy. The basic assumption of this model is that living things are inactive receivers of outside stimuli, with the advertisement being one of those stimuli. Therefore, branding and another commercial advertisement in print and internet infomercials will be employed for Chocolate Milky. Stimulus-Response Model posits that speaking when the correct is put in place precedes the organisms responsiveness security, same with the buying of a product (Gunelius, 2007). While Stimulus-Response has been declared, outdated in the social science circles, we nevertheless seem to naturally work within its principles (Arikan 2009,). Inherently, this model is anchored on the assumption that whenever a consumer is deciding to purchase an item, he/ she deliberately make that choice based on appeal (Philip, 2006).

While it is agreeable that intangible assets form the basis of organizations worth today, the brand is the greatest composition of those intangible assets (Arikan, 2009). It is therefore surprising that only a small percentage of firms have always been in a position to consistently evaluate the impact of their brand and monitor its measurement criteria. There is no contention of the fact that brands have always been regarded as assessors and the determining factors of choice in Business-to-Consumer (Arikan, 2009). On the other hand, however, there is the common notion that places great emphasis on other factors of consumer choices, and denies due consideration to brand. This is where one notices the gap and misconceptions of the role of brands (Thompson, 2003). All these arguments mean that when Chocolate Milky is properly branded and hopefully measured, it will naturally hit the roof as corrections would be made in time.

The Risk of Market Launch of Chocolate Milky

For this new product, Chocolate Milky, the risk seems to be in the distribution model, when it is launched. According to Thompson (2003), distribution marketing models refer to the different channels that need to be employed in the business to identify the consumers and how best they could be reached and maintained. This model is best dealt with through thorough market research to identify the consumer needs and analyze the available competition in the market (Thompson, 2003). And herein, for Chocolate Milky, lies the potential risk. This has to do with the construction and integration of a marketing program that would deliver superior value. While marketing programs should always be integrated into the entire business operations to ensure that customers receive the greatest value possible for their products and services, for Chocolate Milky, the basis seems to be on branding and a belief in the consumerism of its target population which might flop. Yet, a detailed program on supporting the marketing efforts, efforts to ensure efficiency and effectiveness in the marketing process and ensuring that the best means of marketing are employed should all be enforced and not be ignored in the advent of competition (Howgwill, 1998). This marketing process entails ensuring that the marketing process is categorized into four major groups. The products and services, their prices, the place where the marketing would be done and the overall promotion process integrated to ensure that the customers get very superior value from the organization. Regardless, however, integrating a brand that is already existing with similar products can be a difficult task (Thompson, 2003).

References

1. Arikan, 2009, Multichannel; Marketing: Metrics and methods for on and offline success. New York, Wiley and Sons
2. Gunelius, S 2007, Content Marketing for Dummies, New York, Dummies
3. Howgwill, M 1998, Health Care Consumerism, the information explosion and branding: why it is better to be a cowboy than the cow, Managed Care Quarterly, 34 (2) 674-683
4. Janiszewski, C and Warlop, L 2003, The influence of Classical Conditioning Procedures on Subsequent Attention to the Conditioned Brand, Chicago Journals, 20 (2), 171-189
5. Philip, K 2006, Marketing Strategic Management, New York, Wiley and Son
6. Thompson, P 2003, Crafting and the Execution of Business Strategy, London, Sage

MINI brand has existed for 60 years because it could offer people exactly what they needed in a particular period. The company quickly orientated and created a subcompact economy car that immediately conquered its market. In addition, the company still produces high-quality vehicles that are actively purchased by consumers who know what the company is famous for and how profitable and convenient it is to have an economical car.

MINI has a high brand equity, as customers have been acquiring what the company creates for many years. High brand equity means that customers are willing to pay large sums of money for the purchase of a particular product of the company (Algharabat et al., 2020). MINI company was created a long time ago and still exists, and it is clear that people buy company cars, preferring them to all numerous competitors. It follows from this that the company has a high equity.

The most accurate brand positioning strategy has recently been based on advantages. This is because the company created a car that was not only economical but also stylish in appearance. Cooperation with the designer of Formula 1, Cooper, made the car attractive, comfortable, and intelligent, enticing many consumers who wanted to buy this car (Kukkamalla & Bikfalvi, 2021). Due to the advantages of this car model over others, it has become the driving force for attracting buyers.

BMW leads its MINI brand in the right direction as they create cars necessary for a particular segment of consumers. In modern times, there is active urbanization of large cities, characterized by expanding towns and districts, which significantly increases the distance from one point to another. The MINI company creates fuel-efficient cars that allow to save gasoline and thus fuel costs (Stakem, 2017). There are more and more cars, and the number of parking spaces is minimal. The compactness of the MINI allows one to park in many places that larger models of cars could not afford. That is, the MINI branding itself speaks of mini-expenses, mini-sizes and reasonable prices for vehicles.

References

Algharabat, R., Rana, N., Alalwan, A., Baabdullah, A., & Gupta, A. (2020). Investigating the antecedents of customer brand engagement and consumer-based brand equity in social media.Journal of Retailing and Consumer Services, 53(1), 101767.

Kukkamalla, P., & Bikfalvi, A. (2021). Collaborative partnerships in the automotive industry: Key motives and resource integration strategy.International Journal of Business Innovation and Research, 10(1), 1-22.

Stakem, M. (2017).A brand romance. Creating Results: Strategic Marketing.

Every business is a brand, or at least it can become one with guidance from a brand manager. Brand management means developing a strategy that sets the company apart from the competition and builds long-term customer relationships. At the same time, the brand manager must take into account the unique ways of influencing the team in order for the team to work together effectively.

Brand managers take on many responsibilities that require familiarity with marketing aspects, including market research, content marketing, digital marketing, social media marketing, and design. Brand managers can fulfill these responsibilities. However, their knowledge will help each team develop messages and assets that fit the brand and strengthen its position in the market. Brand managers use customer and trend research to create strategies to change how people perceive a brand. This may include overseeing advertising, design, and events. At the same time, an essential part of the work of a brand manager is building trusting relationships with all departments of the company since it depends on whether their recommendations will be implemented.

Exercising influence requires special skills such as communication, adaptability, and expertise. Suppose the departments are separate from the manager. In that case, it is crucial to correctly build communication so that the staff does not take hostility to new directives from the brand manager. Proper business communication is the key to building the right relationships in the company. Another source of influence can be considered the leaders adaptability to the internal and external environment. This helps to build the right strategy, which in turn will positively influence the trust on the part of the team and thus develop their trust in the leader. Trusting relationships, in turn, contribute to the increase in influence and the effectiveness of collaboration. Another option for the emergence of influence in the company of a manager may be the manifestation of their expert abilities. If employees see the professionalism of the manager, then he will be treated with great respect.

It can be summarized that the brand manager has several sources of influence in the company. Among such factors, three main ones can be distinguished: adaptability, sociability, and expertise. The learned skills are significant in forming trusting relationships in the team through which the managers power is formed. Thus, all the directors instructions will be considered and executed on time.

The characteristics of products and the classification of products by marketers

Product characteristics

The term product defines unspecified objects, which can be displayed on retail in order to appease a demand or desire, comprising physical merchandise, services, encounters, occurrences, people, areas, possessions, real estate, data, and concepts.

Product characteristics could be characterized in order to conclude the description of a product by the means of the variations and derived forms. The characteristics of products are considered to be aspects, which could be adjoined to the description of a product in order to broaden the definition of merchandise. The most frequent examples of the product characteristics are amount, shade, quality, form and substance (Adeoty 72). The characteristics listed above could be adopted for refining or searching the needed product. After the descriptions of the existing characteristics are established, they are able to be appointed to a specific product and later to devise more products.

The classification of products

The classification of products into consequential divisions enables marketers to come to a decision, which approaches and schemes should be used in promoting merchandise or utilities of a company. There are many categories of arrangements that are used by the marketers. For example, one of the approaches towards the categorization of the product is its division based on the frequency of its use. The products that are most likely to be used one time, like recess packets, demand entirely distinct marketing approaches that the products that are consumed over and over again, for example, various vehicles. The categorization of the products enables the marketers and the enterprises to develop, outline and complete an efficient marketing strategy. The consumer products are divided into three types: durable goods, non-durable goods, and services, according to the endurance and tangibility of the product.

Differentiation of products

Product differentiation depicts a marketing approach where marketers make an effort in order to create an exclusive product, which will not have equal among the competitors. Companies decide to take this path in order to stand out in a manufacturing where diversified adversaries create analogous products. On the other hand, there are various approaches that could be used for this purpose, for example, following a low-cost scheme and advertising. However, these techniques are diverse from product differentiation, despite being valid marketing methods. Product differentiation implies that there are aspects, characteristics or nominal disparities between a given product and the competitive goods. There are several techniques for a Product differentiation: product innovation; packaging; pursuing new market niches, especially in unsophisticated areas; generating more referrals; offering increased service; figuring out the guarantees; partnering with complementary products or service providers; and employing the hid assets (Rankel par. 4).

The importance of the product design and factors that affect a good design

Definition of a product design

Product design is considered to be one of the most crucial non-price aspects that regulate the benefit of a given product. The function of product design affects the entire life course of a product. In the introductory period of developing the product, the duty of design is to conceive a compatible merchandise from a novelty. The product has to establish a demand in the place where it has not existed earlier, (for example, the announcing of the Sony Walkman) or completely diverse products can be contending with others on the identical retail (for example, personal cars contend with civic transport).

Factors affecting the design

As the product life cycle matures, more competitors enter the market, and the chief role of design is in product differentiation; through quality, appearance, performance, ease of use, reliability, reparability and so on (Walsh 32). The design could be affected be next factors: function, user, cost, production, company, aesthetics, fashion, culture, ergonomics, materials, and the environment (Walsh 47).

Building and managing product mix and product lines

A product line of an organization is represented by an array of products that correlate with each other, for instance, a line of hot chocolate. Furthermore, a product mix is represented by a merger of various product lines. Establishing and administering a beneficial product mix is able to provide an organization with a considerable market share and constitute diversified sources of profits (Johnston par. 4). There are several ways of building and managing the product mix and product lines of an organization: coordinating with the production department; seeking consistency for branding purposes; doing for depth; assigning managers to different lines, and knowing the limits.

Combination of products to create strong co-brands or ingredient brands

Co-branding is a series of action, which lead to a combination of assorted products into a collective good or displayed collectively in a concerted manner. There are a lot of diverse branches of co-branding and the means of its reaching. The organization has an opportunity to operate jointly with other organizations in order to integrate their supplies and have an impact on the core competencies of one another. Core competencies are specific business abilities used to create a competitive advantage in the business environment. A competitive advantage is the ability to complete business functions, produce customer products or provide more value to consumers better than other companies (Hawthorne par. 4).

On the other hand, the company is able to manipulate the resources they already have currently inside one organization in order to advertise and stimulate numerous products instantly. The methods of co-branding are ingredient co-branding, same-company co-branding, national to local co-branding, joint venture co-branding, and multiple sponsor co-branding (McKee par. 2). Regardless of the method that an organization decides to maintain, the target of co-branding is to act in answer to the shifting marketplace, establish the core competencies of the organization, and operate in order to enhance the profits from the given product.

Ingredient co-branding consists of establishing brand impartiality for elements, equipment or details that are included in other elements of production. Same-company co-branding implies that an organization with no less than two elements of production advance their owned labels composed in a simultaneous manner. National to local co-branding takes place in the cases where a regional small-scale business combines its production with a bigger chain, for example, governmental net or trademark in order to aim to the regional congregation and demands. Joint venture co-branding represents an approach towards co-branding where no less than two organizations combine in a calculated affiliation in order to produce a new product for the marked audience. The last but not the least is multiple sponsors co-branding, which includes no less than two organizations operating collectively in order to create a strategic affiliation in electronics, exaltations, and sales and so on.

Use of packaging, labeling, warranties, and guarantees as marketing tools

Packaging

Packaging implies that any given product subsequently existing in its initial structure and design is being packed in order to be sold at the retail. Adequately composed and designed packages for the elements of production are able to establish the impartiality of the brand and increase the income. Packaging is considered to be the first confrontation of the consumer with a product, which influences the first impression, and further decisions about the purchase. Moreover, the packaging is partly responsible for the acknowledgment of the brand; consumer affluence means consumers are willing to pay a little more for the convenience, appearance, dependability & better packages (Walsh 67).

Labeling

The term of label stands for an uncomplicated badge that has adhered to the product; it contains a brand name and diverse relevant for the consumer information. The label is a component of the package, and it allows the consumer to recognize the element of production, to evaluate it and to learn the necessary for purchase information.

Warranties

Warranties are solemn declarations that identify the anticipated product appearance by the producer. Merchandise with a warranty could be replaced by the producer or entitled to a restoration, substitute, and compensation. Warranties are beneficial to the producing organization, as they increase trust in the brand.

Guarantees

Guarantees are able to decrease the chances taken by the customer. Moreover, guarantees imply that the given merchandise is of immense excellence. Furthermore, guarantees could be beneficial in cases when an organization is still not introduced to the wide audience; and when the value and capacity of the merchandise are preferable to the adversaries. The last but not the least, the set of guarantees is able to evaluate the efficiency of the company.

Works Cited

Adeoty, James. Product Classification Strategy. Elements of Marketing. Ed. Olujide Jonson. Ilorin: University of Ilorin. 2000. 69-80. Print.

Hawthorne, Madison, List of Core Competencies to Run a Business. 2014. Web.

Johnston, Kevin. n.d. The Best Way a Company Can Build & Manage Its Product Mix & Product Lines. Web.

McKee, Steve, The Pros and Cons of Co-Branding. 2009. Web.

Rankel, Steve. n.d. 8 Ways to Differentiate Your Product Offering in Price-Driven and Commodity Markets. Web.

Walsh, Vivien. 1992. Winning by Design: Technology, Product Design And International Competitiveness, New York, New York: John Wiley & Sons, 1992. Print.

Currently, McDonalds occupies the sixth position among the most important brands in the world, and, in terms of customers visits, it is one of the most popular restaurants. One of the reasons for this is its successful and effective branding campaign. Also, the key to its success is its experimentation and segmentation strategies (Pomposo, 2014).

McDonalds is a vivid example of manufacturer branding. Its marketing strategy is based on uniformity, that is, it has many symbolic items that are associated only with it and can be found at any McDonalds in the world. The target consumers differ in different countries. For example, in the USA, the company mostly targets children, while in Japan, its target is also adults. The most important segmentations for the company which it is trying to target are primarily demographic and, to a lesser degree, psychographic. As for the experimentation aspect, it is also crucial, as it helps understand customers preferences by deleting or adding a particular product from the menu thereby trying to create the ideal set of products that would meet all the customers needs (Pomposo, 2014).

Due to its geographic variety, McDonalds has a very successful branding strategy, as it keeps its brand consistent and pays a lot of attention to details thereby creating the same experience and atmosphere at any of its outlets all over the world. This feature makes customers search for this particular brand anywhere in the world, as they know that their expectations will be satisfied (Pomposo, 2014).

As far as packaging and labeling are concerned, they are very effective and efficient. Packaging is convenient in McDonalds, and it also has an original design. Labeling is also attractive, and, particularly in Happy Meal, they create intrigue for children of what is inside the box. Additionally, McDonalds adds facts on nutrition to a package (Pomposo, 2014).

If I had to create a marketing campaign for Harley-Davidson Motorcycle Company, I would target the same group of consumers as the company does; namely, people who like riding in general and who want to do it on a premium-class motorcycle. I agree with the companys branding strategy to target mostly psychographic segmentation. I would also market my product on the Internet and social media, as the product targets different demographics. The five main segmentation characteristics that I would use in developing a profile of my customers are people who love high-quality motorcycles (psychographics), people who love riding (psychographics), adults (demographic), places with vast open areas for motorcyclists to ride (geographic), and the regular users of the product (behavioral) (Bhasin, 2017).

If I had to create a marketing campaign for selling iPods, I would target primarily adolescents and teenagers, as they are considered heavy users of this device. In this case, I would target mostly behavioral segmentation and, to a lesser extent, demographics. I would market my product on the Internet and social media chiefly because the target demographics are teenagers and adolescents who are almost always connected to the Internet. The five main segmentation characteristics that I would use in developing my customers profile are adolescents and teenagers (demographic), populated areas and big cities (geographic), technology optimists (behavioral), heavy users (behavioral), and online lifestyle (psychographic) (Bhasin, 2017).

If I had to create a marketing campaign for promoting timeshare (or vacation-ownership) opportunities in Vail (Colorado), I would first target young families with children, as this system is the most beneficial and convenient for them, and people who like quiet rest in nature. Thus, my primary target would be demographic segmentation and, to a lesser degree, psychographics. I would use the Internet and social media to market my product. The five main segmentation characteristics that I would choose are families with children (demographic), young people (demographic), people who love peaceful rest in nature (psychographics), people who live in big cities (geographic), and potential users (behavioral) (Bhasin, 2017).

References

Bhasin, H. (2017). 4 types of market segmentation and how to segment with them? Web.

Pomposo, A. (2014). What is the secret to McDonalds global branding success? Web.

Executive Summary

Blancpain is well recognized watch-making brand that has dominated this market for approximately 400 years. Being part of the influential swatch group, the company has always pride itself with the ability to uniquely create mechanical watches. However, changes in both the internal and external business operating environment has called for marketing strategy adjustments.

Therefore after successful analysis of the current market situation, this report suggests that the brand should target a single market segment. The decision to singularly focus on high-end consumer was arrived through the application of demographic segmentation. Since the above group of customer are very specific in what they desire, a concentrated target strategy is proposed. This strategy allows Blancpain to focus more on the need of the consumer while at the same time utilizing the limited resource.

Also very important to note is that all promotion effort should be directed towards fostering great client relationship. Therefore sufficient effort should be placed on public relationship. Finally at all time Blackpain should act as a quality leader. Unique product feature, rich history and heritage, high craftsmanship, are some of the factors marketers of this Brand should use to justify the high prices.

Introduction

Blancpain is global reputable brand that was founded by Jehan-Jaques in 1735. The company that is own by the Swatch group, a respected industry leader, pride itself with an experience of about 400 years in creating mechanically watches (Blancpain). However, technology has enabled creation of gadget such as cell phones and laptops which already have in-built clocks.

Similarly, electronically made watches are considered cheaper and accurate in telling. As result consumers no longer need to buy additional time telling machines. However, the need to create a desirable status quo has lead to a certain group of consumers searching for a status symbol. Wristwatch is one of gadget that is proving to satisfy this need (Bewes & Andreasen 17). If Blancpain is to retain its market position, it has to find ways appealing to this consumer need.

Current Market Situation

A marketing audit was conducted to establish the situation currently in the market. Important tools of analysis and auditing such as SWOT and PESTLE were employed.

External (Macro) Environment

SWOT is an acronym of Strength, Weakness, Opportunities and Threats.Analysis of opportunities and threats shed some light on the external business operating environment. Similarly, the understanding of this environment was further enhanced by conducting the PESTLE analysis. A pestle analysis involves scrutinizing the external environment paying particular attention to the Political, External, Social, Technology, Legal and finally Environmental factors (Kats & Shapiro 60).

Political Factors

Political development affecting the watch-making industry particularly wrist watch can act either as threats or opportunities. Blancpain produces wrist watches with a global appeal. The brand is especially popular in Russia, Asian, USA and other European markets (Blancpain). Therefore, any political aspect in these markets that is affecting the performance of the company is considered.

After the Global financial crisis, Governments were pressurize by citizens to put strict regulations that would check the personal spending habits of executives and other prominent persons holding public offices.

This in turn has affected the uptake of luxury goods in markets such as the USA (Bewes & Andreasen 16). Although Blancpain is yet to be adversely affected, if the trend continues there is a potential threat of losing out on sales volume. On the other side, Asian markets were not adversely affected and therefore have been providing diversifying opportunity.

The political governance and structure of China for instance did not only insulate the country from the adverse effect of the crisis but also ensured economic growth. Currently, the countrys economy is the second largest in the world. As result, the purchasing power of the consumers has increased. The country is now an important wrist watch export destination as indicated by figures from the Swatch group. To be precise, export sale of wristwatch in the country increased by 58.8 %(Bewes & Andreasen 18).

However, allegation of political interference and manipulation of the Chinese yen act as threat (Bewes & Andreasen 18). This factor coupled with another threat of increase competition from china domestic watch makers could result in making Blancpain less competitive. Nonetheless, Blancpain can still capitalize on the opportunity created by political goodwill in Russia. The current prime minister is recognized for setting fashion trend when it comes to wearing of wristwatch (Blancpain).

Evidently he prefers Blancpain brand and as result the brand is experiencing sufficient demand in this region. Another important fact is that this nation is somewhat shielded from the pressure associated with luxury spending. Despite 17% of the citizen living below the poverty line, luxury spending on watches is more acceptable especially when compared with the USA and other European countries (Bewes & Andreasen 23)

Economical Factors

A strong economy creates an opportunity for the brand while a weak economy poses potential threats. As mentioned earlier, the global financial crisis has been the greatest challenge to luxury makers. Even without government interventions, most consumers opted to abandon their extravagant spending.

The influential Swiss watch industry, which more often than not act as a global indicator of the situation at hand, experience a 22.3% drop in sales revenue. However currently there have been some sign of recovery, but still things have not returned to way they used to be prior to the crisis (Bewes & Andreasen 33)

Additionally, the current Europe financial crisis poses a significant threat. Even though the most affected countries are Spain, Greece, Ireland and Portuguese, there are fears that it might spill over to other European zones. Possibly it might eventually destabilize the frail global economy.

Even the Asian continent and particularly China has shown some signs of being susceptible to this particular crisis. Some of its market indices lost some points due to the release of negative news. Consumers are now more caution and therefore such news result in reduced spending (Bewes & Andreasen 38)

The strengthening Swiss currency is also another threat that is affecting negatively the sale revenue. Since most transactions are transacted in US dollar, a stronger Swiss Franc is a major disadvantage.

However, the brand has the opportunity of riding on the reputation of Switzerland as a global and almost monopoly in making luxury watches. The economic policies, such as the monetary and fiscal policies are very conducive. A good example is the tax policies which is one of the lowest among the OECD nation (Bewes & Andreasen 17).

Sociological Factors

Most purchases of Blancpain wristwatch are physiological driven. The consumer always aims at fulfilling a certain social need. That is the reason most board members of high-profile organization are most likely going to choose this Brand over others. Therefore, this Brand has the opportunity of increasing it market share by focusing on such factors (Blancpain).

For example, political goodwill in Russia is not the only reason why the Brand appears to be doing well in the market. Also, the cultural tendency of showing off ones wealth through purchasing of luxury item, has contributed significantly (Bewes & Andreasen 22).

Similarly, for over two century it has been the culture of the rich and elite Chinese citizens to purchase expensive luxury. Predominantly, the most elegant gift that the rich of this country offer during weddings is wristwatches. This has propelled most wristwatch makers to fasten their effort of increasing the market share in the region.

With the era of cheap labour coming to an end in this country and most Chinese expected to enjoy an increase disposable income, there is a high probability most will turn to luxury spending. In fact, already the country is experiencing a 30% annual increase in demand for luxury goods (Bewes & Andreasen 23)

Technological factors

For a company that boast on its ability to develop and maintain traditional mechanical watches, advancement in technology can prove to be a threat. The early 1930 gave birth to a new technology which enabled the development of quartz watches. Electronic quartz watches pose great challenge since they are considered to be more accurate, relatively easy and cheap to produce.

As result their sale price is relatively cheaper. On the other hand, mechanical are complicated and expensive to produce. In addition, they are considered to be less accurate and it is only natural for them to enjoy relatively smaller market share (Blancpain).

A case in point is the comparison between the Japanese quartz wrist watch and Swiss, which Blancpain belong to, mechanically luxury wrist watch. The Japanese wrist watch is more accurate and can retain battery charge for over ten years, it still command relatively minimum retail price of approximately 50$.

On other hand, the Swiss is less accurate, it power reserve is only for a week and therefore requires continuous maintenance, yet still it command a huge retail price of approximately $ 25,000. As mention in the Blancpain philosophy, there are so many complications involved in creating mechanical wrist watch. Perhaps this is the reason 2003 figures indicate that annually Switzerland only produced 2% of globally produced wristwatches.

However when it comes to the values, the country earned approximately EURO 9 billion which is equivalent to 65% of the total value. Definitely new technology, such as quartz watch and in-built clock in electronic media such as laptops and phones, pose a threat. Nevertheless the brand can capitalize on the appeal associate with its year of experience and traditional craftsmanship (Bewes & Andreasen 25).

Legal Factors

The fact Blancpain operates in a global arena makes it susceptible to a number legal factors and regulations. To begin with it must comply with the watch certification of the countries it focuses on. This regulation are aimed at ensuring that the watches are of high quality and do not present any risk to the consumer.

Blancpain must also complain with the Swiss law in order to be labelled as Swiss made watch. From thereon it can capitalize on good reputation of Switzerland craftsmanship. The global directive towards the restriction of any unsafe manufacturing material has resulted in increasing the cost of manufacturing by approximately 16%. This cost is incurred during the process of testing whether the finished product comply with this directive (Bewes & Andreasen 24).

Environmental Factors

Since Blancpain produces mechanical wristwatch, it has been able to avoid environmental degradation that is a society with electrical gadgets. It does not depend on electrical power, a factor that is currently playing a big part in affecting the environment adversely. The price tag that come with Blancpain wrist brand ensure customers are attached to it and therefore can not carelessly dispose it, hence reducing that amount of un-recycled waste in the environment (Blancpain).

Internal (Micro) environment

Strength and Weakness part of the swot analysis were used to analyse the internal factors affecting the organization (Kats & Shapiro).

Strength and Weakness

Blancpain is a reputable and well known brand, it belong to the swatch group which is a Swiss company and a favourite of the high end consumer. Similarly it has a heritage of approximately 400 years and therefore it credited with having vast experienced in its specialized field. Another important factor is its team of qualified workers. Its top management are well renowned for their contribution in the industry (Blancpain).

However one major weakness surrounding this company its inability to produce a large volume of products to satisfy the customers need. In addition the cost of manufacturing its products is relatively expensive as compared to electrical quartz watch.

Similarly, ultra flat style which is a feature of Blancpain products is very delicate and requires handling with extra care. Also the negative publicity that followed major top management change did little justice to this brand. Allegations were that these changes were as result of hard economic times and an effort to maintain family control within the business (Blancpain).

Competitive edge

To achieve a competitive advantage a company can either adopt a cost leadership strategy or take a differentiation approach (Kats & Shapiro 68). Blancpain cannot adopt the first strategy since it is difficult for it to cut down cost and still produce the exact product features it wishes.

Therefore the organization has adopted a differentiation strategy by formulating more than one unique selling preposition. The prepositions are found on the company philosophy and emphasize on; the years of operation, traditional and unique method of manufacturing the clock, attentive to details, and inclusion of high craftsmanship (Blancpain).

Market Segmentation

After conducting a situation analysis the next step involved market segmentation. This is the process of identifying and classifying markets portion depending on various attributes that differentiate them (Kats & Shapiro 79).

The cost of manufacturing a mechanical watch is tedious and expensive and therefore Blancpain should only focus on high-end consumer segment. Demographic attributes such as consumer life cycle stage, income, Gender, lifestyle and social class should be given special attention while identifying this group of consumers.

The possibility of enjoying increase profitability and high rate of return, the capability of the Brand to satisfy the needs of this group, and the fact that these consumers have a common needs and therefore react to marketing messages in same way, confirmed the choice of the segment. This segment considers wristwatch to be more of a fashion statement as oppose to time telling device. As result Blancpain will be able to avoid competition from quartz watches.

Target Market Strategy

Concentrated target market strategy is the most appropriate in this situation. This is because this strategy allows the organization to focus on a single selected segment and hence apply only a single marketing mix (Kats & Shapiro 81). With this strategy Blancpain will now be able specialize in creating mechanical watches more efficiently, focusing on needs and desires of its sophisticated consumers. Considering the human talent required to create the desired watch is limited, this approach allow for effective utilization of this scarce resource.

Positioning

As established the targeted buyers value sophistication and excellence, they want to differentiate themselves from the rest of the crowd. Therefore, Blancpain should never be tempted to position itself as an impressionist. Therefore very little change is proposed here since its unique selling preposition creates a positive perception on the minds of the consumer.

However the fact that consumer has to read almost the entire company philosophy in order to establish these preposition is a weakness by itself. For that reason this position strategy that focuses on the features and benefit of the product, can be improved by developing a single statement that describe the unique selling preposition.

Marketing Goals and Objectives

Blancplain profitability is not through increase sale volume but rather by emphasizing on the quality of its wristwatch. Therefore the objectives should be driven towards justify the high sale prices. As a result, the goals and objective of this Brand should be:

1. To increase its quality leadership by 20% annually.
2. To increase product awareness by 30% annually.
3. To strengthen the business to customer relationship within the first 4 month of the implementation of the plan.

Marketing Strategies and Programs

The above goals and objectives can only be achieved by adopting an appropriate marketing programs and strategies. Choosing the right strategies and programs involves making fundamental marketing decision relating to the marketing mix (Kats & Shapiro 88).

Marketing Mix decision

The first decision is to define the product by emphasizing that it is a highly sophisticated mechanically wrist watch brand. Secondly, customer should be well aware that it is a refined luxury product and as result it is expected to charge premium prices. Over the four Ps in the market strategy, the price will be very important to this brand.

This is because the company aims to maintain quality leadership by using high prices to signal the quality of its product. A skimming strategy therefore would be appropriate for such a segment which is relatively less price sensitive (Kats & Shapiro 96). The prices will psychologically stimulate the targeted market to purchase the product.

To achieve our third objective, channel of distribution are going to be minimized as much as possible. Only retailers who are licensed by Blancpain as result of meeting specified qualification should be allowed to sell this Brand. However, middle men are going to be reduced considerably through the use of internet. Auctioning through the internet will provide the consumer with a number of benefits including sufficient time to bid, gauge demand for product and set reasonable bid price.

The adopted promotion strategy will aim to create a good public relation. Media releases are going to be used to tell the story about the companys heritage and culture of excellence. They shall be followed by events which are organized with the aim of pointing out the unique product features. In addition these events are expected to create good networks that are going to be maintained through follow-ups for future promotions.

Conclusion

Definitely by narrowing down its focus to particular specified segment, Blancpain is bound to enjoy a number of benefits. First and foremost, it will be able to utilize it resources more efficiently and manage the cost of manufacturing. Secondly, it is most likely going to tackle the weakness of being unable to meet the current demand. Also very important is the fact that it will stand a chance of building an effective customer relationship. Hence in the process point out to the unique product features that justify the high selling price.

Works Cited

Bewes, Gilligan & Andreasen Richard. The luxury Watch Industry, Swiss watch Domination industry watch report 19.32 (2008): 15-40. Print.

Blancpain. Blancpain Manufacture, 2009. Website. 10^th December 2009.

Kats, Gabriel, & Shapiro Hollans. Principles of Effective Strategic Marketing. Burlington: Elsevier, 2008. Print.