Assignment Sample on ASB-4530 Global Brand Management
Answer 1
Introduction
The word brand can be explained as a concept which people think of when people think of a particular product. It can be said that the idea helps people to identify a specific product. One of the significant examples of this is the use of the GOOGLE for search engines; that is, while Google is a search engine, there are other search engines also available in the market, but 99% of people think google is the only search engine. This can be said as the brand value. This paper focuses on the facts are seven different kinds of a brand element that helps in this kind of understanding for the brand.
Brand Element
The brand elements can be explained as the key features which describe how a brand can be more influencing the market. There are mainly seven kinds of brand elements that a company needs to understand to make sure that their product has a proper brand name. The seven brand elements are:
The first element of the brand could be a clear brand purpose. The brand purpose can be explained as how much the brand knows what the goal of the brand and what it needs to achieve is. Establishing identity is one of the essential things that is required in order to be done to make a proper existence. This can further help in making sure that the people know of the brand and make sure that people choose their product instead of the competition. Additionally, this can also ensure that the product is fit for people and people get what they specifically want (BADARGA et al., 2021).
The second element of the brand is to do thorough market research. This is one of the other significant things that is needed to be done to make sure that the organization is operating the correct market. The market can be divided into many sectors, and each product has different values in different sectors. The call can be divided into cultural, target customers, and other sectors. One product that is valuable in one market can be a major flop in another market, and this market research is one of the essential things that is needed to be done. Further, market research helps in the process of understanding what the other competitors are doing in the same market. This can help in understanding what updates that the people want are and how a product can be improved.
The third element will be the likeable brand personality. Every brand needs to be a personality that will play an essential role in the market, and people will be attracted by its nature. If the brand identity has been introduced well, then the personality of it will also get through its identity. Brand personality plays a vital role in the area of marketing the materials and some other communications also. Brand personality needs to be introduced in the market very efficiently, and it should be impactful to the customers; otherwise, it will deliver some mixed up thoughts to the customers, and they will get in trouble to connect with the brand properly (Wulandari et al., 2021).
The fourth element of a brand could be a memorable logo of the brand. A great brand image come to the customers is by its logo. The logos and brands should match with each other by their compliments and other factors also. The logo will be the centre of attraction of the brand, and people will identify by its logo design. The brand logo should enhance the brand image most, and it should be lined up with other elements of the brand. The brand logo will always create nostalgia and magic in the people (Sahin et al., 2021).
The fifth element for a brand will be its attractive colour palette. The logo needs to be filled with simple colours with only 1 to 3 primary colours in it so that it would become memorable to the people. The colours of the brand logo will play an essential role in people psychology which is very intuitive. There are many colours that are simple but also express some thoughts in people minds, like blue giving calm vibes, and yellow represents passion and energy. Colour can convey many ideas, which will go with the brand image mainly.
The sixth element of the brand is typography. A brand image always depends on its right font, and that can convey a powerful message to the people. There are many famous fonts of the brand images that are still memorable to people. A proper font is that which will work well with the logo and also with the colour palette also. Like the logo and the colour palette, it could also be simple, and great typography can use some steps that can create a tremendous and memorable font for the logo (Yoo et al., 2021).
The seventh and last element of the brand is the graphics. This is the final step to create a brand image in an extended version to the people. Brand should support the graphics, design assets, icons and photographs of the brand. For example, Google has explained their icon designing in their google visual assets guidelines. They have covered many things to consider the brand design as an essential element for the brand identity. Providing some brand assets to the people like the business cards, email signatures, and some content templates can be very productive for the brand.
Conclusion
Thus concluding the topic, it can be said that the use of the seven elements is one of the essential things that can be used to promote a brand value. When people know of the brand, the market of the brand also increases. Therefore it can be said the brand value more than the money for the brand. To manage the brand identity, organizations must invest in a brand management system and stay consistent in the market. Further, the use of proper brand value can make sure that the brand reaches the international level and people know of the brand in one name.
Answer 2
Introduction
The process of advertising is very much essential to build a brand of a product or company nowadays. People spend lots of money on advertising, and thus, the section known as advertising is working hard to grow more. Earlier, the process of advertising was not that big an option to build the performance of any product or equity, but as the awareness amongst people has increased, the range of the process has expanded its ways.
Advertising and Brand Equity
The process by which adverting increase the brand equity is as follows:-
Increase awareness: – the process of advertising about a product increases the knowledge and understanding about a product or service among the people. Advertisers utilize many ways and steps to present the product on various media platforms. As people access the media platforms and come to know about such products and services, they will purchase them. A study done by small business trends near about 90% of people is affected by advertisings. In the U.S., a survey conducted found that about 33% of people located there purchased goods based on T.V. advertising (Kim 2022).
Building a brand: – many brands are made through advertising. Many of the dairy products companies, companies related to fashion and trends, automotive companies, electronic companies, and many more companies today sell their products through advertising. Companies spend a lot of money on their advertising. In the U.S. the Ford Motors spend $2.45 billion, General Motors spend $ 3.24 billion, Amazon spends $ 3.38 billion, and Samsung spends $ 2.41 billion for their product’s advertising.
Develop good relations with customers:- the advertising companies also help to build a good connection with the customers by various companies and brands. Developing a good relationship with customers is very much necessary for proper marketing of the products and services. Many companies have been created many customer relations departments and numbers by which they make contact and communication with their customers. The customer services of the company help provide customers feedback and increase the level of marketing. Many telephone connection companies like “AIRTEL, VODAFONE, JIO”, etc., give ads of their customer service. The advertising agencies also keep good contact with their various customers.
Growth in marketing and sales:-the advertising of a particular product gives a good base for the sales and marketing of products of relevant companies. Many of the soap and detergent like Ariel, surf, lux many perfumes, cold drinks like coca-cola, sprite, thumps up, many of beer and soda companies, many of beauty products, T.V. and other home appliances, the paint and distemper companies and many more earn lots of money by the sale of their products, and this sale is the result of their effective advertising.
The increase in the share and stakeholders: – The advertising increases the products and services sales and the number of stakeholders and shareholders of the companies. Various products like home appliances, food, and beverages, including the diary and cold drink companies, have increased the number of shareholders and stakeholders due to their well-performed advertising and sales. In the year 2020, the home appliances and electronic goods in India have seen earnings of $0.86 billion and $2.56 billion ( Karray and Martín-Herrán, 2022).
Digitalization of the marketing and sales;- the sources of advertising and sales have also made their impact on the digitalization process of the current market scenario. Various new digital platforms are used in the process of advertising. This has improved the market system’s entrance into digital marketing. Many of the marketing apps like Flipkart, Amazon, Nyka, and many more have come up with better opportunities and better sources of online shopping and business. Many of the social media apps are also helpful for advertising products and services like Facebook, Twitter, and Instagram.
The T.V. advertisings:- the T.V. advertising in the earlier and even in the current days has also made an impact on the advertising and building the brand equity of goods and services. The advertisings that come in between many of the series or serials and people do watch them even if they are not interested and as they see the ad, they get influenced and affected with that (Kosmaczewska 2022).
Trade show advertisings:- Many of the companies also go for various trade and corporate shows for their products’ promotions. They present their products in a very creative way, and this makes a clear impact on multiple people. People generally purchase many products from watching them on trade shows and advertisements.
Advertising in a pandemic:- The time is all about the period of the pandemic of covid, and many of the products and goods have seen a downturn due to the world economic crisis. Thus, many of the products have seen a minor upgrade in their marketing. Products like pet-related products and home appliances have seen an increase during this time. Including this, many of the beauty and fashion products have also seen growth in marketing and sales. Adverting is also affected during this time as people have used many sources of advertising and sales to have an increase their product marketing. Online marketing and advertising have also increased in this time. People spent more time at home, and thus they spent more time purchasing various goods online (Fossen et al.,2022).
Conclusion
The system of advertising is a base of growth, and every company needs it to have a sale of their products and services in the market. As the time of the current day is going through an economic downturn, there is a need of introducing more technicalities in the system and process of advertising. The platforms of various social media should be utilized in a more modified way to expand the advertising in the process of building equity of a particular brand and company. New offers and promoters should be added in the process of advertising and its methods. Companies also need to take initiatives to have proper growth shortly.
References
BADAGA, S., 2021. THE EFFECT OF PROMOTION MIX ELEMENTS ON BRAND PREFERENCE TOWARDS PACKAGED BABY FOODS: THE CASE OF CERIFAM BRAND OF FAFFA FOOD SC, ADDIS ABABA (Doctoral dissertation, ST. MARY’S UNIVERSITY).
Fossen, B.L., Kim, D., Schweidel, D.A. and Thomassen, R., The Role of Slant and Message Consistency in Political Advertising Effectiveness: Evidence from the 2016 Presidential Election.
Jeon, H.M. and Yoo, S.R., 2021. The relationship between brand experience and consumer-based brand equity in grocerants. Service Business, 15(2), pp.369-389.
Karray, S. and Martín-Herrán, G., 2022. The impact of a store brand introduction in a supply chain with competing manufacturers: The strategic role of pricing and advertising decision timing. International Journal of Production Economics, 244, p.108378
Kim, J., Virtual Reality Experience in Tourism Advertising: Roles of Immersion and Advertising Engagement (Doctoral dissertation, University of Georgia).
Kosmaczewska, J., 2022. Spillover Effect of Tourism Advertising. In Encyclopedia of Tourism Management and Marketing (pp. 1-3). Edward Elgar Publishing.
Sahin, I.E., 2021. Brand Valuation and Contemporary Methods Used in Determining Brand Value: A Financial Perspective. In Financial Ecosystem and Strategy in the Digital Era (pp. 327-354). Springer, Cham.
