Finance - faculty of economic sciences and management miss...

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Unformatted text preview: faculty of economic sciences and management miss Takoua becha Finance first semester *UNDERSTANDING THE NEW WORLD: The power of your brand* 1-This years Deloitte/Management Top 200 Companies campaign, Understanding the New World, examines six major contemporary issues and opportunities for business.This month, an analysis of brands. 2-What does your brand stand for? What do you stand for? These questions are two of the most important that you will ask in your business career, says Michael Crampin, of branding experience company Design works. Brand has always been understood as a way of powerfully communicating what a company or product stands for its difference, its attitude and its way of doing business, says Crampin. He is the director of Design works, one of a new breed of companies that has sprung up to help businesses set up, manage or reinvent their brands and reputation using corporate identity and design. He believes brands can help you to define not just your business identity, but also who you are as a person. You can define how you want to be perceived: as a rebel, athlete, greenie, or a cutting-edge creative.Or as a hot-shot senior manager. Ultimately brand is a space in its audiences mind, offering them something to fulfil a desire or answer a need, be it functional or emotional. And there can be serious repercussions if you get it wrong. Just look at BPs woeful response to the Gulf oil leak, or how Apple recovered from controversy over the functionality of its new iPhone. In personal branding, look at Tiger Woods and at how David Beckham survived both sporting and sexual controversy to build a brand as strong as ever. Today brand has more clout than ever before, but this power has to be used far more wisely than ever before too, says Crampin. If it stands for something, it has to deliver on that promise, not just through its communications but its deeds. 3-Todays consumers are far more savvy about and less accepting of brand experiences that dont live up to their promises. The consequence is that the next advertising campaign will not wash away the issues of accountability, says Crampin. The most important thing to remember today is a brand is what a brand does, he says, not what it promotes. In times of recession it is important to see action over words. When an experience moves from product parity to product innovation there is an understood advantage the consumer is being given more and as a result will give more back. A brand in the current environment must do good things and have a function that is useful. Provide both and you are being genuinely useful. Reading comprehension Exercise one: say whether these statements are true or false and justify your answer 1- Understanding the new world means considering the importance of brands .....
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This note was uploaded on 01/24/2012 for the course CS 1205 taught by Professor Takoua during the Spring '11 term at Cardiff University.

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Finance - faculty of economic sciences and management miss...

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