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Marketing and Brand Equity Essay

The AsiaTravel is usually facing the next problems relating to its manufacturer value to customers: 5. Its brand name is merely the generic edition of it is services, for that reason price is seen as its key competitive benefit in the travel around market; 2. Associations of the trademark have not been clearly defined and conveyed to customers, for that reason their understanding about their brand name is usually not adequately strong to enable them to recognize and recall this brand among additional alternatives; * Information on past experiences consumers have acquired from the make use of the company’s services haven’t been effectively collected and assessed.

Can make difficult pertaining to asiatravel. com to identify the advantages and value its brand has already been designed in customers’ mind. 2. Although the company’s name shows quite apparent the market segmentation on which it can be focusing we. e. Asia as a whole, specific target markets and sub-segments have not recently been identified. * The company have not adequately identified and evaluated its competition. As a consequence, their particular knowledge about the competitors, it is points of parity and points of difference is limited.

Therefore , its brand setting is not strong although the company features great intrinsic potentials in bringing its brand to be favourable and unique in the travel industry. * The corporation has not effectively invested in producing tools to conduct market surveys; to produce effective marketing plans, appropriate marketing programs and proper advertising communication to make its brand equity. 1 . Costumer-based company equity Keller (2003) described customer-based company equity because the differential effect that brand expertise has on consumer response to the marketing of that brand.

When ever customers act in response more positively to a product/service and the method it is marketed when their brand can be recognized than when it is certainly not then american presto is said to possess a positive CBBE. On the contrary, in the event that consumers react less positively to advertising activity intended for the brand compared to an un-named or deceptively named type of the product/service then american presto is said to obtain negative CBBE. Brand understanding consists of two key parts: brand recognition and brand image. Company awareness is related to the strength of the manufacturer presence inside the consumer. head.

Acceding to Keller (2003), brand recognition can be developed by increasing the understanding of the brand by way of repeated exposure (for brand recognition) and strong interactions with the class of product/service and also other relevant purchase or intake cues (brand recall). Substantial service quality, reasonable prices, security, diversity, versatility are relevant associations to get Asia travel around. com to take into account for the improvement of their company awareness. Company image defined as the customer’s perception of the overall quality or superiority of a product/service with regards to their intended goal, relative to alternatives (Krishnakumar, 2009).

To know identified quality, it is quite useful for entrepreneurs to identify and measure the key aspect which includes the characteristics in the product/service to which the brand is definitely attached. Top quality is the vital strength of the brand especially in the discipline of travel services. This is a very relevant association that Asiatravel. com should develop as a essential component of their very own marketing applications to build manufacturer equity devoid of changing all their name and logo. Furthermore, apart from top quality, it is essential pertaining to marketers to create strong, favourable and excellent brand associations in order to build positive CBBE.

The next best brand frame of mind and advantage associations are made from word-of mouth (friends/family) and/or noncommercial information.. Consequently, marketers of Asiatravel. com should determine the impact of people different causes of information by simply managing and adequately accounting for them along the way of building communication ways to build the brand collateral. 2 . Manufacturer positioning Keller (2003) identified brand placement is identifying the optimal position of a manufacturer in the minds of a grouping of consumers or perhaps market part so that they consider the products/services made available from this brand in the right or perhaps desired way thus maximizing potential benefits to the firm. Target market.

It is vital to identify the buyer target seeing that different buyers may will vary brand understanding structures thus having different perception and preferences regarding this brand. Industry segment consists of cluster of individuals with similar needs and consumer behaviour. It is essential pertaining to Asiatravel. com to refer for this marketing segmentation scheme to be able to design advertising programs that may attract a number of appropriate portions. Identification of main opponents It is necessary to know the competition before the company starts off positioning itself.

This includes players who provide the same product/service among a more substantial portfolio of solutions. SWOT analysis is actually a good start to get Asiatravel. com to do the exercise of identifying the main opponents. Point of similarity and point of difference PoDs could be understood to be the way consumers think for the given company. Those are what make the brand become prominent coming from competition In the matter of Asiatravel. com the most noticeable association with this kind is usually their 3 in 1 product.

This kind of difference can be achieved even more convincingly by better quality, better consumer support, predictable comfort and amusement, overall safety, competitive prices and flexibility (wide selection of choices suited to customers’ needs). PoPs may be classified into two types: category and competitive. Category Jumps is important in the event the brand is looking to get an extension to a new category.

Competitive PoPs are the brand associations that will be the competitors’ PoDs in order to negate their PoDs (Keller, 2003). Positioning umschlusselung is an effective device for asiatravel. com to recognize its PoDs and Springs in order to decide proper placement of it is brand in its defined marketplace segments Generally speaking, brand placement is an extremely vital but extremely difficult step in establishing CBBE. To achieve very good brand placing, asiatravel. com needs to significantly look at marketplace, knowing competition, PoDs and PoPs inside their strategic re-branding process. Sources David Aaker (1991).

Managing Brand Equity: Capitalizing On The importance of Brand Name, The Free Press, NY. on 31/08/2012). (accessed on 31/08/2012). (accessed on 31/08/2012). (accessed on 31/08/2012). (accessed on 31/08/2012). (accessed on 01/09/2012). (accessed on 01/09/2012).

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