100%(16)16 out of 16 people found this document helpful
This preview shows page 7 - 9 out of 108 pages.
(symbiotic marketing). It has been criticized for being little more than the four Ps with different points of emphasis. In particular, the seven Cs inclusion of consumers in the marketing mix is criticized, since they are a targetof marketing, while the other elements of the marketing mix are tactics. The seven Cs also include numerous strategies for product development, distribution, and pricing, while assuming that consumers want two-way communications with companies.Branding- The trick with these links is finding one that explains not just the definition of the topic but also how it applies.This one does that, so be sure to read it all.In marketing, brand managementis the analysis and planning on how that brandis perceived in the market. Developing a good relationship with the target marketis essential for brand management. Tangible elements of brand management include the product itself; look, price, the packaging, etc. The intangible elements are the experience that the consumer has had with the brand, and also the relationship that they have with that brand. A brand manager would oversee all of these things.DefinitionsIn 2001 Hislop defined branding as "the process of creating a relationship or a connection between a company's product and emotional perception of the customer for the purpose of generating segregation among competition and building loyalty among customers." In 2004 and 2008, Kapferer and Keller respectively defined it as a fulfillment in customer expectations and consistent customer satisfaction.7
Brand management is a function of marketing that uses special techniques in order to increase the perceived value of a product (see: Brand equity). Based on the aims of the established marketing strategy, brand management enables the price of products to grow and builds loyal customers through positive associations and images or a strong awareness of the brand.HistoryThe origin of branding can be traced to ancient times, when specialists often put individual trademarks on hand-crafted goods. The branding of farm animals in Egypt in 2700 BC to avoid theft may be considered the earliest form of branding, as in its literal sense. As somewhat more than half of companies older than 200 years old are in Japan, (see: List of oldestcompanies), many Japanese businesses' "mon" or seal is an East Asian form of brand or trademark. In the West, Staffelter Hofdates to 862 or earlier and still produces wine under its name today. By 1266, English bakers were required by law to put a specific symbol on each product they sold. Branding became more widely used in the 19th century, through the industrial revolution and the development of new professional fields like marketing, manufacturing and business management.Branding is a way of differentiating product from mere commodities, and therefore usage of branding expanded with each advance in transportation, communication, and trade.