Wednesday, May 29, 2013
BOC: Ne-Yo and his brand
Ne-yo is an R&B singer known for his melodic voice and relatable love/heartache songs. According to his website he has managed to produce three number one albums in less than five years. He is a Grammy-award-winning singer, songwriter, and producer. His brand is consistent throughout his website on being a gentleman. The link of his webpage is even "year of the gentleman". He sets himself apart from the rest of the R&B singers by proclaiming his respect for women, not just being famous & rich with massive amounts of women but being with the right one. In his biography he mentions that most performers nowadays sing about the same thing and the same situations which is going out, being ridiculously rich, women, sex, and alcohol. He wants to stray away from that and produce music that has more meaning and more heart.
Sunday, May 26, 2013
Chapter 8 Discussion Questions
1. Explain the VIP concept, and compare it to the traditional Four P's.
The marketing mix, also known as the Four Ps, has been the core of market analysis and communication strategies ever since the concept was introduced by Philip Kotler in the late sixties. The Four Ps stand for product, price, promotion, and place. The concept is built on the premise that any communication strategy is built on identifying product attributes, determining the right price, promotion mix, and channel of distribution.
The marketing mix, also known as the Four Ps, has been the core of market analysis and communication strategies ever since the concept was introduced by Philip Kotler in the late sixties. The Four Ps stand for product, price, promotion, and place. The concept is built on the premise that any communication strategy is built on identifying product attributes, determining the right price, promotion mix, and channel of distribution.
2. Explain the concept of co-branding; give examples.
The practice of using multiple brand names together on a single product or service. This form of alliance should have potential economic and commercial rewards to both parties. Co-branding agreements should cover marketing strategies, confidentiality issues, licensing specifications, warranties, payments and royalties, indemnification, disclaimers, and termination terms.
The practice of using multiple brand names together on a single product or service. This form of alliance should have potential economic and commercial rewards to both parties. Co-branding agreements should cover marketing strategies, confidentiality issues, licensing specifications, warranties, payments and royalties, indemnification, disclaimers, and termination terms.
3. How do licensing and brand extensions compare as growth strategies.
Fashion brands are an interesting breed of brands in that they are in a continuous state of innovation, transforming themselves at a constant rapid pace. Fashion products usually have a shorter life cycle than other products, and it is this level of innovation and creativity that brings excitement and interest to the brand. Innovation is always a source for growth.
Fashion brands are an interesting breed of brands in that they are in a continuous state of innovation, transforming themselves at a constant rapid pace. Fashion products usually have a shorter life cycle than other products, and it is this level of innovation and creativity that brings excitement and interest to the brand. Innovation is always a source for growth.
Monday, May 20, 2013
Chapter 7 Discussion questions
1. Explain in your own words why we need brands?
We need brands because they have personalities and products that we relate to and prefer. Without brands, everything would be generic and we would not be able to express ourselves accordingly. Each person finds brands they love because it is similar to their style and attitude, it is an expression of themselves with the help of a designer.
2. The promise of the value is an important element of any brand. Explain its concept and its relevance to the brand.
Values are the ultimate reason for our purchase and the answer to the most important question: “Why should I buy this brand?” Values can be about self-esteem or a sense of belonging to an elite group as in the case of luxury and designer brands, value for money as in the case of mass-market and budget brands, or search for heritage and leadership.
3. Innovation and consistency may seem to be two contradicting notions. What does each term mean in relevance to the brand, and how do these two terms work together in defining it?
A brand needs to be in tune with the times, and in sync with customers' needs and aspirations. It needs to respond to economic, technological, and generational needs and developments.
Wednesday, May 15, 2013
BOC: Visiting a Retailer
Bettie Page at the Miracle Mile shops does a great job of keeping their theme throughout the whole store. Bettie Page sells vintage and retro clothing, shoes, and accessories. Their window display features mannequins wearing their latest designs and new arrivals. As soon as you enter the store you see rockabilly paintings hung on a dark wall with a cheetah print floor. There is also a boom box and a tv display playing movies & music from that era. Their sales associates are dressed appropriately to the theme and one out of the two even had the sassy and enthusiastic attitude to match it. They were very well informed about the company and who Betty Page was.
Their price range was a bit high for what I would pay for these types of clothes but then again it really wasn't my style. The sales associate Analisa explained that they are a specialty store and have their own target market who are fanatics of this era and dress like Betty Page on a day-to-day basis. She told me that most people are intrigued about vintage clothing but need a lot of confidence to wear them so a lot of their sales come from accessories as well since it is a mild representation and does not take a lot of courage. I really liked my experience visiting my store and even if it isn't exactly my cup of tea, I appreciated it's uniqueness and ability to maintain the brand in every aspect of the store.
Their price range was a bit high for what I would pay for these types of clothes but then again it really wasn't my style. The sales associate Analisa explained that they are a specialty store and have their own target market who are fanatics of this era and dress like Betty Page on a day-to-day basis. She told me that most people are intrigued about vintage clothing but need a lot of confidence to wear them so a lot of their sales come from accessories as well since it is a mild representation and does not take a lot of courage. I really liked my experience visiting my store and even if it isn't exactly my cup of tea, I appreciated it's uniqueness and ability to maintain the brand in every aspect of the store.
Tuesday, May 14, 2013
Chapter 6 Discussion Questions
1. Describe the relationship between branding and marketing.
The relationship between branding and marketing is strong and essential. Marketing supports the development of brands in all of its stages; it plays an integral role in the creation of the emotional value through the shaping of the brand personality and then communicating it to the outside world through its various communication channels. We can categorize many of these marketing activities into internal and external activities.
2. How does the decision-making process differ between that of luxury brands and mass-market brands?
Personality is the component of the identity with the stronger impact because it represents the philosophy and attitude of the brand and, as such, greatly shapes the other identity choices. Personality develops and matures over time through activities, stories, decisions, and interpretations of the corporate vision and strategy. In many ways, lifestyle brands are positioned highly on personality.
3.Explain the meaning of "brand identity" and highlight its role in the positioning strategy.
Branding adds a new dimension to the product as well as a new set of emotional values. In a way, it humanizes the product and establishes an emotional relationship with buyers. While buyers consume their products, they basically experience the brand through its identity. Identity is a combination of the visual/audio symbols and the personality.
Wednesday, May 8, 2013
Chapter 5 Discussion questions
- 1. Explain the social element of luxury brands, and explore how this concept relates to some of the challenges facing luxury brands, such as counterfeiting and parallel markets.
"A LUXURY BRAND can be defined as a brand that consistently delivers a unique emotional value and possesses the capacity of creating a lifestyle experience through a strong identity, a high level of creativity, and closely controlled quality, quantity, and distribution, all of which justifies asking for a premium price. Now let us examine the definition more closely and dissect its key words for a closer understanding. A closer examination highlights the following terms or notions about luxury brands." It social element is the recognition you receive from sporting a Louis Vuitton purse or a Chanel coat. When people are seen wearing luxury brands, they automatically think highly of you.
- 2. What is the meaning of a lifestyle brand? Why are most luxury brands described as such?
"Brands that successfully identify themselves with a lifestyle and a marketing segment to the point that their name or image is mentally triggered when the segment is mentioned." Luxury brands are lifestyle brands because it pertains to a certain class. Not everyone can afford these brands so when we see a person with these certain brands, we often believe that this person has a lavish lifestyle.
- 3. Explain how luxury brands seem to defy traditional marketing principles.
Luxury brands' advertisements can be seen in top fashion magazines, such as Vogue and Harpers Bazaar, business publications, and airline in-flight magazines. Unconventional locations such as on buses and public transportation can be seen in some markets such as Paris, London, and New York but are otherwise not very common.
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