Marketing Management Branding

Questions: 1. Discuss about Brand and Branding? and also write about Explain the strategic power of branding across the marketing mix. Use an example to illustrate.2. Select a brand that you think has high levels of brand equity. Research and discuss what have they done to achieve this.3.Identify a product that you have been brand loyal for a long time and now no longer. Why is this so? What went wrong? What can they do better?4. How do marketing efforts change as a product moves through the four stages of the Product Life Cycle (PLC)? Cite with examples.5.Can packaging be used as a strategic tool? Discuss using an example to illustrate this. Answers: 1. The brand of a company signifies the impression of the brands in front of the customers and the clients (Jones Bonevac, 2013). The brand comprises of the main work of the company and the other elements such as visual components, language and the related aesthetic components. The branding term is used to define the process of strategizing the goals of a brand and the implementation of the components which would help the company to achieve its goals (Jones Bonevac, 2013). The branding is an important component of the marketing mix as it helps the company to increase its long as well as short term sales. It helps in making the product eligible for sale. For example, Coca Cola has used its branding to increase the sales as well as distribution of the products. 2. Pepsi is an organization which has successfully created the brand equity. The brand concentrated on the cross class generalization which was taken at the brand level. This allowed the brand to make correlations with strong competitors such as Coca Cola and other areas such as McDonalds. The brand considers good customer relationship as the main crux for achieving a high degree of brand equity. It also connected with a wide range of audiences all around the world. 3. I was loyal with Lakme brand for a long time. However, I have switched to Lotus recently. This was because of the fact that this brand contains chemicals which damage my skin. I assume that Lakme contain certain chemical composition which may affect my skin after prolonged use. Hence, I decided to switch over to more herbal brand such as Lotus. Lakme should try to incorporate more herbal ingredients so that the health-conscious customers would accept it. 4. The product is promoted more in the introduction stage when there is a need to create great brand awareness (Sharma, 2013). In the growth stage, Pepsi create more market share by increasing brand visibility. The maturity stage is characterized by maximizing the profit. The company changes their marketing strategy according to the product life cycle stage. 5. The packaging can be used as a strategic tool as it helps the marketers to highlight qualifiers, product attributes and images of branding (Raheem, Vishnu Ahmed, 2014). For example, Cadbury uses several layers of packaging to not only make their products attractive but also make them safe. The extra packaging layers make insects away from the chocolate and hence make the product safe. Hence, the packaging increases the brand value of a product and the company can use it for strategic purpose. References Jones, C., Bonevac, D. (2013). An evolved definition of the term brand: Why branding has a branding problem.Journal of Brand Strategy,2(2), 112-120. Raheem, A. R., Vishnu, P., Ahmed, A. M. (2014). Impact of product packaging on consumers buying behavior.European Journal of Scientific Research,120(2), 145-157. Sharma, N. (2013). Marketing Strategy on different stages PLC and its marketing implications on FMCG products.International Journal of Marketing, Financial Services Management Research,2(3), 121-136.