BRAND MANAGEMENT & RESEARCH Essay Example | Topics and Well Written Essays - 2250 words

BRAND MANAGEMENT & RESEARCH - Essay ExampleWe recommend Walmart to continue mental synthesis its injury image not with just customer perspective but from employee and ethical perspectives as well. With its whimsical positioning it should continue to expand with market penetration and market expansion. Development and projection of its own deformity Great Value will also help in increasing its brand value and assurance of the customers and will help in maintain its positioning as low price provider by eliminating the margin of the manufacturers. Walmart is a strong brand and can even become stronger by following these strategies. 11 References 12 Introduction In this highly competitive globalized world, markets are flooded with plethora of products and services of various(a) brands. Consumers are literally spoilt with choice. In such an environment the importance of brands has increased manifold both for the consumers and the organizations. Brand management is vital from many as pects for any organization but the most important utilization is providing the differentiation to the brand from competitors and other products. Brands are de commencement of the companys intellectual property. ... The company with its brand, make it clear what they promise and deliver to the customer based upon their vision and strategy for the future of the patronage and the product. It is very important for the company to have a clear understanding of the expectations of the customers and living up to those expectations. The set of brand management is to build a healthy relationship between the customer and the company through with(predicate) their brand. Brand management is extremely important for the companies. Brand image can be the determining broker between success and failure of a company (Riezebos et al 2003) Today corporations spend millions on brand establishment and support due to the increased importance of mark. Researchers have tried to identify the scope, d omain and potency of branding. It has resulted in many different frame works, theories and concepts. Although there are mainly seven different approach pathes of branding but the brand strategy should be customized to meet the specific challenges and opportunities specific to a brand at a specific point of time. One approach of branding is economic approach where brand is part of the traditional marketing mix. The identity approach links brand with corporate identity. Consumer based approach gives peak importance to customer satisfaction and customer associations. Personality approach treats brand as a gentlemans gentleman like character. The relational approach treats brand as a viable relationship partner. The community approach treats brand as a vital point of social interaction, whereas brand is treated as part of the broader cultural picture in the cultural approach (Heding et al. 2009) Whatever approach the companies utilize for the establishment and maintenance of the