Branding and Creative Innovation System - MyAssignmenthelp.com

Question: Discuss about the Branding and Creative Innovation System. Answer: Introduction In marketing concept, brand management is the study or understanding and implementation how the brand is supposed in the market. It is very much important to know the targeted market for proper brand management. Tangibles of brand management are- product, price, and packaging etc. The intangibles are the knowledge that the customer has with the brand and gaining connection or network that the customer has with the brand (Sarooghi et al., 2015). Branding is the process of creating a relationship between a product and the customer attaching all the emotional perceptions among them. It is based on the fact based on customer expectations and customer satisfaction (Luo et al., 2015). The entire thesis depicts on the brand management of the three cases. One of the most recognizable brands is Coca-Cola. Despite of different blind test, it has leading share in the Cola market. Brand management aims to build up a touching connection with different products, customers and with the different Companies (Vivek, 2015). All this work all entirely controlled by the brand managers, to protect the brand value and brand image. The brand that is found inside the organization has the strategic force and inspiration within the organization based on the brand (Preez and Bendixen, 2015). HSBC is one of the widest financial organizational sectors, which has operated its business operations in the banking industry. It is one of the traditional banks providing draft and distribution of monetary resources by crediting the financial system. It persists, the widest share of the total bank operations in providing or accessing financial funds for different businesses. Different leading brand valuation companies, Interbrand, Millward Brown Optimor and Brand Finance rates HSBC as the most valuable banking brand in the world (Fatema et al., 2015). Different banks participate directly in the market by issuing shares and bonds or one can say that they act as an investor or market makers by providing liquidity in the market. In addition to it, banks indirectly activate on monetary market leading to financial investment services on behalf of the clients or their customers. The transactions or exchanges of all contracts are settled by the electronic trading and settlement system. Di fferent banks provide well security facility of the assets and hence helps the customers with their extra value added facilities. It also provides e-banking facilities, locker facilities and other different facilities. This helps in establishing improvement of brand equity, brand awareness that should be improved through implementation of promotional tools with proper brand strategy (Hamzah et al., 2015). HSBC wanted to create a globalized brand with a new image, as they wanted to neglect the reliability and homogeneity of different global brands contributing set of values or principals. Like wisely, other banks performing in the same space approach their customer in building up of the brand equity. Initiation new products can be done through brand extensions. The launching of new brand conservatory capitalizes on the impartiality of the already established brand like, HSBC. Customer acquaintance with the existing core brand like, HSBC aids new product entry in the market (Kumar, 2015). Further, it enhances brand extension to incarcerate new market segments rapidly. This strategy is essential as it reduces the new product introduction marketing research and advertising cost and increases the probability of success due to the higher preference of core brand equity (Safari et al., 2015). With due value to it, brand extension produces possible reciprocal effects that enhances the equity of the parent or HSBC brand. These are the following business ability to launch new product as compared to the other brands in the market (Sajtos et al., 2015). Brand Adoption Model is the process in determining the brand awareness to adoption, that is, from first hearing about a product for purchasing purpose, based on preference through meeting up with the satisfaction. One of the most accepted models is AIETA model (Samli et al, 2015). The AIETA model can be graphically shown as; Awareness: Building up awareness is a phase when the prospect learns or gains brand idea. It is the stage when the prospect knows nothing about the brand. Interest: In this phase, the prospect after knowing about the brand, or after gaining brand idea, becomes interested on the brand and starts gathering more information about the brand. Evaluation: In this phase, the prospect starts imagining himself or herself having that brand or gaining services from that brand. He or she starts thinks about accessing the facilities offered through that particular brand. Trial: In this particular phase, the prospect starts using that brand on small scale for becoming accustomed with the brand and knowing about its advantage of using the particular brand. Adoption: Adoption is the phase, when the prospect starts having the brand on large scale basis, which may hopefully lead to customer satisfaction and leading to repeated purchase from the brand. Depending on the particular brand, and implementing the Adoption Model can lead HSBC to move towards the path of success than other lesser brands, as, a prospect gets well aware of the particular brand like, HSBC and starts knowing or gathering more information about the services, security it offers and other value added services etc. Lastly, it leads to enlarge customer satisfaction leading to brand awareness. It is quite critical to establish or build a brand image in the minds of the consumers and other stakeholders. However, it has not thought about, how much tough is it to establish within the minds of those who produce it, deliver it and live with it or to the employees. Therefore, employee branding is essentially required for this purpose. Companies have realized the importance of branding and what promotional tools are required to bring publicity of a brand, for that they give emphasis on the logo, brand image and all other physical attributes. However, the vast portion of it remains in the hands of those who sell or the employees behavior. To bring a change in the brand strategy, one should revolutionize renewal and advertise it internally. Employees should be well aware of the benefits of the brand (Zavattaro et al., 2015). Then only they can satisfy the customers by meeting up their demands for that particular brand and thus helps to establish equity in an organization. Building up of the brand is widely essential as brands give a benefit to the Company or to the organization. Brand should be build internally as well as externally. Externally brand can be build by the use of different promotional tools, like advertising, mass communication and others. It enhances the brand to get aware in the minds of the customer. Internally brand should also be build, as first and foremost the person or the employees who deals with the brand needs first to be satisfied with the brand. As their satisfaction in the brand can lead to bring customers and can lead in enhancement of their buying capability. Levi Strauss Company maintained its place in jeans wear products or among the relaxed dress code products. Levi Strauss had 30.9 percent of U.S blue jeans in 1990; later on, it had only 18.7 percent. Levis teens sales on the core blue jeans had dropped from 33 percent to 26 percent in 1997. The buyers of age group from 15 to 24 years old showed faces of indifference in the particular segment with an attitude of showing Levis as my dads brand. The bottom-line message reflects Levis are not cool enough. Male teenagers started preferring brands like Tommy Hilfiger and Old Navy. Female teenagers started preferring brands like Calvin Klein, Gap and Guess (Azar, 2015). It became important to attract the specified age group and the older shoppers. To fix the problem, Levis started pumping up Silver Tab brand, an eight-year-old jeans line which considered to be more stylish in respect to the young consumer. Silver Tab had a baggier fit and it used non-denim fabrics. Levis then planned to in crease or expand the line by including more tops in more trendy styles and new khaki pants. Levi planned to boost Silver Tab promotion by spending five fold events such as concerts in New York and San Francisco, for up- coming new bands playing music known as Electronica and showing outfitting characters on hot television such as Friends and Beverly Hills. If the brand gets dated, the commercial implications that may arise is Brand renaissance or Re-launch of any brand. Re-branding and re-launching takes help from the extensive revolutionization of a company, internal or external, depicting on the brand name, customs, principles, behaviors, tenor, illustration security and all that maintain without any connections to the estimate of inheritance unit, to somewhat less theatrical and of temperament that is more evolutionary. This change is the process of giving a new image on the product or services to make it successful. Brands are the source of an organizations long-term life and maintaining market leadership. Whereas, Rebranding is a multifaceted process that should be handled flippantly. Re-branding, re-launching and renaissance adds importance to the Companys long term success (Brooks, 2015). The reasons for re-branding and re-launching a company or a brand is based on significance, competition, Globalization, Mergers and acquisitio ns, creativeness, relocation, validation, consequence, legal necessities, self-esteem and reputation. Different aspects of rebranding are based on developing or innovating a new brand, giving brand identity, packaging, in changing brand profile in respect to values, mission, emotions, culture and customer care. Rebranding is done for developing a new or young brand and changing for the sake of change. Brand activity and marketing drive broader organizational change, as levis believed that clothes can make a difference. It creates innovative designs and craftsmanship all over the world to inspire the consumers. Levis make up their leadership in making jeans and khakis. It accelerated its growth through their store. Levis brand penetrates on the classic American cool style. It has also gained loyalty of millions of people and of generation after generation all started believing it, following their innovative craftsmanship spirit and dedication based on their craftsmanship. The Dockers brand introduced authentic khaki for 25 years irrespective of all men and women. If gave a new look, with its authentic style a heading towards bright future. It started innovating something new with some innovative look by rethinking on the traditional process to make it more valuable and better (Preez and Bendixen, 2015). From cotton to Fabric, it started to value its product. After that, the designe rs by challenging themselves gave some authentic look to the brand. It started creating jeans with less consumption of water. This is how looking on the latest trends and bringing up or with the upliftment of new trends it gave a start to a new revolution to the Levis jeans wear. This change is quite important, as without it new revolutionary change cannot happen. Levi met with some sort of challenge, which seemed to be difficult one. It started fashion based designing of all dresses for their long-term trend. It wanted 501 to cater the minds of all, which used to be in 1998 for 16-year-old. To reach the brand towards target it was essential to understand what the brand, which now catered the market of 501 with the values of standard status, innovation, Americanisms, hardiness and daring physique and it started expressing and targeting and regenerating its brand. Lastly, a claim that may strike some as odd, but which is nonetheless true. The advertising or promotion used by Levis had driven the success of 501. To somewhat extend it targeted to 501. Customers who bought a simple couple of jeans started buying bit of Nick Kamen. The promotion and the invention were flawless and the product showed its creativity in sum of its parts. It has given the innovation of conventional and erratic, but still their lies an exclusive charisma. Levi Strauss surprisingly found his unique 'waist in general had become, for the young customers of the UK and Europe, the classic jean. Nothing, but it is the only thing for what Levis had brought 501 in the market. Its uniqueness and innovative charisma filled up or satisfied ones heart (Urde and Greyser, 2015). Where, 5 denotes the production line of the original Battery Street Factory, and 01 denotes the famous Cone Mills fabric, which is a great supplier of Levis. 501 featured heavily in the classic trend in different countries. Therefore, back to basics or 501 strategies ultimately became the main profitable source. Denim started becoming one the most hi-interest fashion fabric again. It leads to increase of total Levi jeans sales drastically. This 501 concept was only made for Levis. Still there were other brands, which can be put as per reference, are Calvin Klein, Gap and Guess. On a fine spring morning on 27th September, 2009 the director of Kraft were riding high in the Australian market with Web 2.0 based campaign for the Vegemite brand, then he stated the new Vegemite as iSnack 2.0. Here, the use of I stated for giving importance to a personalized or individual product experience and leveraged the popular I. Next, the use of Snack denotes the social media marketing analysis. Lastly, Kraft dealt the use of 2.0 as the name that had been generated through web while online voting, and the new product was ultimately the second version of Vegemite. It played the icon importance of the unique tasty product. The brand team wanted to highlight or give priority to the customers demand factor. The new Vegemite had short shelf life due to the natural cream cheese component, which required refrigerator for preserving (Beverland et al, 2015). Therefore, they could not sell much of the product. These were the key oversights by the Kraft brand for launching iSnack 2.0 a nd it matters for increasing the sales. Being a potential brand manager in future, one should not sacrifice or give less importance to the quality of the product. Rather to increase the sales, one should make the quality of the product much high. For that or for the increase in sales, if required one should preserve the necessary product with the required equipment. However, any bit of sacrifice on the quality of the product should not take place (Priya and Anbarasu, 2015). As a brands main target or sales or one may say that the brand name can be strongly enhanced by increasing the quality of the product with the much desired low cost. As per the recommendation, the brand team should re-launch or use promotional tool in advertising the new product, this should be done next with Vegemite given the market response to the launch of i-Snack 2.0. The study or research showed that 80% of Vegemite users viewed Vegemite with other food items like avocado and tomato. Therefore, this started moms mixing Vegemite with other brands. The customers started cooking the snack of Vegemite with the combination of cheese which diluted the strong taste of the product, as the cream cheese had low fat than butter, this were done by the health conscious customers (Joseph, 2015). Kraft started making both the products. After that, the team innovated Vegemite cream cheese combination that proved to be much softer, giving smoother texture and taste. Then suggestions from the customers showed that by providing with a new brand name can reach Vegemite towards the path of success. Therefore, it should be widely recommendated that Vegemite shou ld be re-named while bringing or launching of a new product iSnack 2.0 takes place. Conclusion Each case had been discussed viewing to some questions asked. The three cases were of HSBC, Levis 501 Repositioning and iSnack Launch. The detailed idea or the case stated about penetrating or enhancing the brand value and enriching the creativity or innovative mind. 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