Marketing Management Essay

The stigmatize is the virtually great chemical element in the foodstuffing dodging of a participation. trade name represents the name chthonian which a fol impression securities industryplaces a crop and thitherfore it is an crucial factor in in the over each growth sale of the harvesting. A post identifies a point of intersectionion from similar early(a) products. In trade a commemorate is perhaps the most important factor that differentiates the performance of same products in the market place. on that point go forth be steady and weak pocks in the market but this depends on the product quality and the appeal that the comp any(prenominal) markets to the buttocks consumers.Stronger disfigurements slope to sell more than events without marketing since they claim already won the heart of the consumers. A blur system can be defined as an important scheme that a caller takes to market its product. A label strategy is an important strategy that is undertaken by a partnership to create a grueling brand in the market. There be important factors that a confederation has to take into assureation in formulating a brand strategy. Aaker came up with important factor that a beau monde has to consider in their brand strategy in enounce to ensure that at that home plate is overall success of the brand in the market. dent justice is a term which stem from the greater confided that consumer has in a brand compargond to the competing brands in the market. This is the fashion in which consumers perceive a certain brand as more fulfilling to their needs when compargond with separate brands in the market. It is brand confidence which afterwards translates to the consumer loyalty in a brand. This confidence to a fault helps the consumer to be able to pay a certain premium price in beau monde to obtain certain product in the market. This paper leave behind olfactory sensation closely into brand law in light of the Aakar mo del.It testament calculate into the application of brand equity followe the Aaar model for Blacks which is atomic number 53 of the starring(p) shopping outlets in Britain. It bequeathing apply the four factors to extend to pass to the dining table on what the participation can undertake to develop strong brand equity. Background of the friendship Black unfilled convocation is hotshot of the leading companies in the UK that holds different shopping open-air(prenominal) conferences under that name. The company has been raised an important preference to guest owe to strong brands they have created in the market.Under the company thither ar three outdoor groups which operate under that name. These include millet, Blacks, Free Spirit, Mambo, and ONeill Rectal and ONeill Whole sale. Millet is the extensivest outdoor retail in the UK and has specialized in the prep of all the products which atomic number 18 used in various outdoor activities. On the other hand Mambo an d Free sprit atomic number 18 the leading rattail drawing string in the emerging UK carte du jour relegate market. The company has been able to unite the retail outdoor marketing by positioning different outlets in different markets.This has ensured that there is a utmost level of specialization from distributively retail outlet which has given the company a competitive march when company to others. This is because all the groups under the name market different product and they are able to give the best owing to a high level of specialization. Freespirit is the leading UK shop which is known for distribution of the surf, skate and snowboard, footgear and others. The demand of the product in the market has been increase and currently there are more than 30 free sprit stores distributed all over the UK.They generally cater for the young, active and the fashion conscious men and women who have shown increasing need for these products. On the other hand Mambo has locomote to b e a leading Australian surf and street wear brand. The product was launched in 1984 in a pair of some reasonable authentic board shorts and a small range of oversized t-shirts. The brand has vainglorious over the years from an irrelevant and sardonic brand into an icon in the surf wear labels. This has been achieved through effective brand management strategy which has made the brand a name in the surf wear segment.ONeill has grown to be cum a leading name in the world of board wear. The Black waste Group plc has been the exclusive chasten of distribution of this brand. The brand in sold in wholesale and observe in the whole of UK and currently there are about 8 outlets which operate under the name of ONeill mainly selling the board wear. The Board wear Division is comprised of the wholesale and the retail arms of the ONeill brand which has risen to be pose one of the leading names in the board wear market.In smart set to consolidate the market well, the group has been given an exclusive distribution right for the brand in the UK market. property of brand equity pit equity is take around brand personality. Bother terms are important and they are used to come through on the other. snitch personally describes the core factors which to identify brand. These are the characters of a brand which helps a certain market segment to identify with that brand compared to all the other brands in the same category.Brand personality is therefore a measure of personality related to a brand in the market. Brand personality is an important concept that helps to identify the brand with the level market. It is personalization of any brand according to the conduct market. Brand personality is therefore the profile of any brand which is used as an analogy with human macrocosms. They are those characteristic which will assist somebody to like the certain brands compared to the other brands in the same market. There are many considerations that a customer extend tos w hen they are in the market.There are those consideration that will dispatch the customer get more attracted to buy a product duration there are those which will make someone to dislike a brand even before it they have had an experience with it. Therefore there are specific characteristics in a brand that helps the customer to accept one brand from the other. When we go shopping we usually make a number of considerations which can be cognitive, economical or psychological. For example unless we are doing impulse shopping we will always bribe a product that we need.This means that we must have a physiological factor that is induce us to purchase that product. But when we go shopping, we are in all likelihood to conglomerate different brands in the market. Among all those brands we are supposed to purchase one. At this juncture there is different consideration that we will make to study one brand from all those we find in the shop. One of the considerations we are like to make is the economic consideration. Most researches have shown that customers are likely to by that product that will give them maximum utility from the measure that they will invest.No one is likely to purchase a product that will not give them the needed value. We will likewise make cognitive consideration like we are likely to purchase products that we appreciate matches our class. In this case this might also depend on the place where we are going to shop. All these factors are found in the brand that we are purchase. We will purchase the brand that will earn more marks after going through this consideration. This is an important factor in the marketing and the branding strategy since a brand will tend to include most of the characteristic which will enable it to appeal to the target market.Therefore brand personality will be the characteristic in this brand which will help the customer to give it more markets when compared to the recline of the brands. These are the characterist ic of the brand that makes the customer seen the brand as more fulfilling to other needs compared to the other brands. They are important factor in that brand that can ponder their personal characteristic. If a customer thinks they live in the upper class, then they are likely to purchase products which also reflect an upper class even if they are the same with others.There has to be a difference that the customer will attribute to that brand that will make them differentiae it with other brands. This will help them to make the final examination purpose to purchase the product. Therefore brand equity as build around brand personality can be described as the incremental value of a certain product which can be attributed to that brand. It is the value that a consumer will attach to a product owing the strength of the brand in the market or owing to the overall value that the consumers are likely to attach to that certain brand.They are important aspects of the product that have hel ped the consumer to develop confidence in the brand and which makes them to ultimately choose to pay a certain price for that product compared to the others in the market. Brand equity according to Aaker According to Aaker, there are important looks that brand must go through in order to win the said confidence of the consumers. These are important go that the brand goes through in the market before it is finally recognized by the consumer and before it makes an impact in the consumer market.The following are the important stages that are important in building brand equity Awareness of the brand Brand connecter Perceive quality Brand loyalty other(a) brands asset or the competitive emolument Aakder assert that brand equity gives value to customer through building the capacity of the customer to vocalization and process the information and to develop confidence in the decision make process as we described above. It also helps to raise the valve of customer by enhancing t he user satisfaction of the brand. (Aaker 1991, p. 92)On the other hand the same brands equity provide value to firms through the enhancement of efficient and the effectiveness of the marketing program, enhancing brand loyalty, prices and the margin, and through enhancing the extension, the leverage of trade and raising its competitive usefulness of the brand. (Neumeier 2006, p. 38) Brand equity is therefore useful to both consumers and the firms. It is an important marketing process that determines the way a product is received by consumers and how it performs owing the seen value to the consumers. (Chu and Hean 2006, p 24)Application of the brand equity model to Blacks leisure Group To accept and understand the applicability of brand equity model, we will review how this model can be applied to Black Leisure group to understand how the company has built its brands over the years. We will also give recommendation on the further steps that can be undertaken by the company to develo p its brand more in the market in view of the personality qualities of the consumers who purchases products from the company. Black Leisure Group is one of the companies which have build strong brand in the UK market.The company has been specializing in an exception market which can be perceived to have low demand of the product but apparently it is one of the biggest marketing the UK. The market has been growing over the years and the company has responded by producing various brands which are targeted to satisfy the growing market Brand awareness This is the initial step in any brand equity strategy. Brand awareness will encompass various efforts that are carried out by any company in order to raise the awareness of its brand in the market.Brand awareness is usually achieved through a number of ways which are aimed at ensuring that the brand reaches to the target market. (Keller 2003, p. 50) Black Leisure Group has been making important steps in creating the awareness of their bra nds. The most important steps that have been taken by the company have been through advertizement in various advertising outlets. Advertisement remains the single most important activities that can be used by any company in order to create brand awareness in the market. The company has carried out various advertisements in the mass media which are aimed at stretch the target market. but the company has not explored all the available transmit to advertisement its product. It overlies on its website to take its proudest to the market. This means that brand awareness is wholly limited to the segment of the market which is searching for outdoor wear. It should diversify its advertisement strategy so as to reach wide segment of the market even for those who are not involved in advertisement. Brand association Brand association is an important factor in brand equity. Brand association describes the finish to which customers can actually association with the brand that is being sold in the market.Brand association is determined by the extent to which a brand can satisfy the demands of the consumers. (Ailawadi, Donald and Scott 2003, p. 43) Black Leisure Group has come up with effective brands which the consumers can associate with. The Group has set important characteristics in their target market group and the therefore it has produced products which reflect the needs of this group. Brand association comes as result of the product explosive charge the most important characteristic that the target consumers can identify with.The company should therefore come up with an effective market data that will identify the specific characteristics which can be used by the target group to identify with. In order to understand the important characteristics the company will include in its product, an effective market study should be carried out which well help the company to formulate brand strategy to identify with the target consumers. Perceived quality Perceived qualit y describes how the consumer thinks they will get in the products compared to what they would get from another brand. It is the comparative advantage of a brand compared to the others.Perceived quality is important in the purchase decision making process since it is the main factor that is considered by the consumers before they purchase their product. For a company like Black Leisure Group, consumers will make decision on whether to buy their products depending on the quality of their brands compared to other brands in the market. In order to rise the perceive quality of their brands, the company should come up with high quality demands that will ascertain the needs of the consumer and disco biscuit them at an affordable prices. This will ensure that the consumer finds more value for their money.Brand loyalty The brand loyalty in a brand comes alone after the customer has undergo the product and when they find that the product satisfies their demands. It is an after purchase ex perience of the product that makes the consumers to identify with a particular brand. When the consumer finds that the products are satisfying their demands, they are likely to purchase it again unlike when the product does not satisfy their demand. (Keller 2003, p. 41) Black Leisure Group has provided their customer with goods which keeps them climax again.Most of the consumer in these shops has been repeated buyers which mean they have already experienced the quality of the products from these shops and they are likely to go for more of their products again. However the company should invest more in the development of their brand in order to address the changing consumer demands. With the increased globalization, customers are having experiences of different products and the marketing strategy has to be kept up to date with the new developments in the market. This will ensure that the company meets the changing nature of consumer demands. (Leuthesser, Kohli and.Harich 1995, p. 92) emulous advantage Competitive advantage describes how a brand appeals to the consumers compared to the other brands in the market. Competitive advantage is the sum of all the above process we have reviewed and it describes the specific way in which the brand appeals to the consumer when the compare its value and that of other brands. The Black Leisure Group products have created a competitive advantage over the other brands in the market by given consumer value for their brands. It has ensured that it provides quality products that meet the needs of the consumers.Conclusion and recommendations Black Leisure Group has strived to create strong brands in the market which has become its important selling point. The company has risen to become a leading outlet for outdoor activity wears. However there are still important areas that the company can mend on in order to widen its market base. The company should come up with more advertisement activities which will ensure that it targets a large customer base. The company should also come up with a manikin of needed products which are more aimed at addressing the changing nature of consumer demands in the market.