The Value Of A Brand For A Product Or Service - 1508 Words

High end luxury, extravagance is the core of Elie Saab’s business. The brand has become a symbol of indulgence for the finer luxuries. At the essence, it is one of the few haute couture brands which is an added sense of elegance and importance. The brand focuses on those consumers who look toward the augmented value of the product and not the product itself. The representation of ES as a brand for the affluent and glamorous is the intangible benefit offered through its products. The decision to pay money for a product or service is often based on more than just the product or service itself. Consumers care deeply about the overall experience of the buying process: They respond to the marketing message, the advertising, the sales approach, the website, the interaction with company personnel, and more. When all these elements come together to form a seamless experience, the customer is left with a feeling of satisfaction that ultimately builds loyalty† (Joseph, 2010). The actual product offered by Saab in haute couture is one created through personalized effort and a guaranteed lifelong experience. ES has four product lines – its essence and the representation of its brand name through Haute Couture. A Ready-to-Wear collection (RTW) that is updated every season and that has become an integral part of the ES experience. The third is Accessories which include shoes, handbags, jewelry, fragrances etc. and the fourth line is Wedding Dresses which are created as Haute Couture orShow MoreRelatedMarketing Is The Flow Of Product Value, Service And Brand Essay2478 Words   |  10 PagesDefinition of marketing: Marketing is the flow of product value, services to the public, the main purpose is to promote the interests of product sales, service and brand. Marketing as a system to provide information to the public dissemination and support Definition of marketing research: Market research is to connect with consumers, public and customers by information. To identify and define the problems and opportunities of market information. Generate and evaluate marketing activities. MarketRead MoreMarketing Means Communicating The Value Of Product, Service And Brand Essay3910 Words   |  16 PagesMarketing means communicating the value of product, service or brand to customer, for the purpose of promoting or selling that product, service or brand. Mostly company do marketing so that people can come to new about their company and it help them to increase the rate of customers and profit for the company. Product:- While doing the market, company must show the description about their product what product they provide to the customers and what type of product they provide such as vegetarian, non-Read MoreDiscuss the Concept of Perceived Value and Its Importance to Consumer Behaviour and Marketing. Discuss the Theory and Then Give Practical Examples of How Customers Perceive Various Brands and How This Impacts on Their Behaviour.1161 Words   |  5 PagesThe concept of perceived value of a product is the difference between the potential customers assessment of all the benefits and all the costs of an offering compared to the perceived alternatives. Value is the function of consumer’s evaluation thus it is subjective where the cost and benefit must be positive values. We can express as the following equation: Value = Benefits / Cost The consumers perceived value of a good or service affects the price that he or she is willing to pay for it. ForRead MoreCustomer Value : Customer Perceived Value1521 Words   |  7 PagesCustomer Perceived Value According to Chen and Lin (2015), perceived value is the worth, which a service or a product has within the mind of the consumer. In reality, the consumers perceived value of the service or product affects the price, which she or he is willing to pay for it. De Oliveira et al (2015) state that customer perceived value is the anticipated benefit from the consumer’s perspective of the service or product. Notably, customer perceived value stems from the psychological, tangibleRead MoreMarketing Management : Starbucks Vision And Mission1018 Words   |  5 Pagesbusinesses create value. It involves redefining the way organizations engage individuals in value creation, especially employees and internal stakeholders, but also customers, suppliers, and related external stakeholders and communities. It is about organizations unleashing the creative vitality of people by inviting and enabling them to interact with them differently† (Experience Co-Creation Partnership, 2015, p. 1 ).The goal of co-creation is about engaging people and creating value through their experiencesRead MoreChapter 9 Product : The Online Offer1332 Words   |  6 PagesWeek 2 Chapter 9 Product: The Online Offer In today’s economy, a product is anything that can be purchase physically or virtually. According to the book, a product is any tangible good, service, idea, people, and place. They are products because in one way or another they could be marketed on the Internet. A product is not just born out of nowhere; a product is created through research in order to determine what is important to the consumer. The marketing mix consists of product, place, distributionRead MoreMarketing Concepts Based On An Article Essay1488 Words   |  6 Pageswill discuss three out of five marketing concepts that implies between price, product and brand. The most important concept based on the article is prices which will represent marketers’ value in the product or services and maintain demand and supply relationship. Introduction This business report is focusing on marketing concepts as a fundamental and motivation of a firm which had been done when they offer their products to the market as well as what needs to improve to make it better in the competitionRead MoreWalmart : A Brand As A Strong Brand859 Words   |  4 Pagesconsumers while earning profits though volume. (Frank, 2006) The company sells varieties of products from clothing wear to food products and more. Today, Walmart has over five thousand stores located in the United States and over six thousand stores across the nation. (Statista, n.d.) Walmart’s strategies had helped the company became a strong brand. Additionally, Walmart’s offering various products/services is the company’s strategy to expand its growth. Walmart may have experienced some negativeRead MoreThe Role Of Product And Brand Strategy Essay1129 Words   |  5 PagesIntroduction: The role of the Product Brand becomes more precious when the economic and industry in stability continue to impact Business to Business buying and selling. Kotler (2001) Product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. As research has explained the customers’ needs and wants, as well as their tastes preferences, such that it becomes easy for the companies to understand their customers. For achievingRead MoreConvenience Store1483 Words   |  6 Pages7-Eleven and OK convenience stores to analyze. In this part, I am going to identify the distinctive characteristics and values of 7-Eleven and OK with the theory of brand triangle, to see what make them a brand. And then I will analyze the scale and goals of 7-Eleven and OK convenience stores with the theory of SWOT and 4P, to see how they manage theirs business. †¢ Corporate Brand Analysis | |Image |Identity |Positioning

Southwest s The Dominant Airline Beloved By Shareholders,...

For years I traveled around the country for business and pleasure, Southwest quickly became my favorite airline. At that time with a young son and parent in New Hampshire, they had a non-stop flight from Kansas City to Manchester. I recall on one flight the flight attendant while descending over the PA sang the following: â€Å"I love you, you love us we’re much faster than a bus.† This song embodies the spirit of Southwest and why I mention this story from over a decade ago. I want to ascertain what make Southwest the dominant airline beloved by shareholders, customers, and employees? It is one keyword, communication. Southwest stresses it is important to deliver a first-class customer experience that will lead to return clients is a strength. To adhere to this tenant, they established a Listening Center with staff from customer relations, communications, and marketing to expedite the flow of information and resolve issues quickly. Communication is a vital comp onent and strength at Southwest starting with the top executives including former Chief Executive Officer and Co-Founder Herb Kelleher. Southwest dares to differ from other carriers because their philosophy revolves around people both internal and external. They use a two-way symmetrical model of communication to forge satisfactory connections between organizations and their stakeholders (Grunig, Grunig, Dozier, 2006). The principle revolves around understanding the shareholder and making sure both theShow MoreRelatedThe Role Of Communication And Culture At Southwest3857 Words   |  16 PagesIntroduction â€Å"Your employees come first, and if you treat your employee’s right, guess what? Your customers come back, and that makes your shareholders happy. Start with employees and the rest follows from that† (Byrne, 2012). This quote from Herb Kelleher, co-founder of Southwest Airlines, embodies the leadership at the airline. Southwest is the leading low-cost airline based in Dallas, Texas and founded in 1967 by Herb Kelleher and Rollin King. They dare to differ from other carriers becauseRead MoreExploring Corporate Strategy - Case164366 Words   |  658 Pagesmission. Bayer MS – corporate social responsibility in the international development of a German company. Eurotunnel – clash of cultures threatens to derail Anglo–French rail link. Ryanair – competitive challenge and strategic choice in the budget airline industry. IKEA – quality and low prices at the Swedish furniture giant News Corporation – corporate logic and corpo rate management in a worldwide media business. CRH – impressive international growth of an Irish company driven from a ‘lean’ corporateRead MoreInnovators Dna84615 Words   |  339 Pages 6:52 PM Page ii 100092 00 i-vi r1 rr.qxp 5/13/11 6:52 PM Page iii THE INNOVATOR’S DNA MASTERING THE FIVE SKILLS OF DISRUPTIVE INNOVATORS Jeff Dyer Hal Gregersen Clayton M. Christensen H A R VA R D B U S I N E S S R E V I E W P R E S S BOSTON, MASSACHUSETTS 100092 00 i-vi r1 rr.qxp 5/13/11 6:52 PM Page iv Copyright 2011 Jeff Dyer, Hal Gregersen, and Clayton M. Christensen All rights reserved Printed in the United States of America 10 9 8 7 6 5 4Read MoreBrand Building Blocks96400 Words   |  386 PagesBRAND BUILDING BLOCKS Building Strong Brands: Why Is It Hard? It is not easy to build brands in today s environment. The brand builder who attempts to develop a strong brand is like a golfer playing on a course with heavy roughs, deep sand traps, sharp doglegs, and vast water barriers. It is difficult to score well in such conditions. Substantial pressures and barriers, both internal and external, can inhibit the brand builder. To be able to develop effective brand strategies, it is useful toRead MoreMarketing Management 14th Edition Test Bank Kotler Test Bank173911 Words   |  696 Pagesand services. C) It helps to build a loyal customer base but has no impact on a firms intangible assets. D) It is more important for bigger organizations than smaller ones. E) It is seldom used by nonprofit organizations. Answer: B Page Ref: 4 Objective: 1 Difficulty: Easy 2) ________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. A) Marketing management B) Knowledge

Services Marketing Integrating Customer Focus

Question: Discuss about theServices Marketing for Integrating Customer Focus. Answer: Introduction: Taking into consideration the marketing mix strategy of Qantas Airways Limited and flag carrier airline of Australia for carrying passengers to and fro and flying under the Qantas brand. Being the largest airline company in Australia, it carries considerable 30 million number of annual passenger in and out (Bienstock, Mentzer Kahn, 2015). Qantas marketplace consists of international and domestic passengers characterized by a cut throat competition. Since the company has a monopoly over the market almost 60 regional locations are serviced by Qantas Link. Despite of its competitors like Virgin Australia, Regional Express Airlines and SkyWest its popularity is unquestionable (FISK, 2013). 3P of Marketing Promotion In the case of marketing mix, promotion provides the trend in aspects of marketing communication. Therefore, absolute information is required in order to generate positive response from customer. In terms of advertising agents like TV, radio, brochures, magazines etc. they reflect the purpose of branding and also using the customized message to hit them at personal level. Another activity like sales promotion is usually consumed during low seasonal changes (Lovelock Patterson, 2015). Moreover social networking and email marketing are getting closer to customer these day, they imprint higher efficiency. PR activities, engagement with sports, and event art and other related programs, and various other involvement are used for charitable purpose. Qantas airlines needs to keep the image of the country, its scenic beauty, tourist attraction, culture heritage that would attract number of tourists. As a public representative like travel agents, media people they publicize the business (Wi rtz Lovelock, 2016). Even the tour operators, frontline staffs contribute lot to the promotion. As such, Qantas brand name holds as a powerful marketing tool and helps distinguishing Qantas from their competitors thereby attracting international customers to have a well-known brand name. It also participates in short term inducement for increasing sales promotion particularly in period of dejected demands (Shani Chalasani, 2013). The generation of new channels of media along with the internet has led to diminish the large scale advertisement and thus Qantas has started to focus on other promotional strategies. People Most customers come in contact with Qantas employees that give a big impact over how it is taken into perception. Qantas being a service industry consists of two different customers: external customer that are the passengers and internal customer as employees. Here the cabin crew plays a major role as they deliver the services and thus are the walking billboards of every organization (Wilson et al., 2012). It provides uniform to improve the professional appearance thereby implementing effective process and ensuring efficient customer friendly. Because of competent, reliable and caring attitude they make an impression with everyone they come in contact and so these staff members has profound effect over customer satisfaction. Even the reputation of the brand must be well suited for the role. It also formulates the policies for online interaction and ground especially through ticketing, check-in and baggage handling and making sure of everyone presence. For making happy customer and ex cellent advocates it provides responsiveness, is initiative, can solve problem and have good will (Lovelock Patterson, 2015). Thus the quality of Qantas services mostly depends upon the human resources capital. Having around 33000 staffs the company provides appropriate personal attributes and relevant training by spending around $275 million a year on staff training (Kumar et al., 2013). Qantas also demonstrates its adherence to consumer willingness over its influence through its service choice and specialist for those accompanied with varied culture. Process Qantas implements effective processes and ensures delivering the product or services in a timely and fashionable manner. Usually an airline is judges based upon its efficient and customer friendly possessions (Lovelock Patterson, 2015). In the same way for the company has invested an entire experience that starts from the moment of discovering and stays till purchase and beyond. Important sources for consideration lying here are reservation, baggage handling, facilities at Airport, information regarding flight, entertainment in flight, meal services, delivering quality service, etc. For example Q Bag tags have allowed passengers to check in baggage without attaching the bag tags (Wirtz Lovelock, 2016). This process is convenient and stores your flight details there by letting your bags to be easily traceable. Few more efficient processes are booking flights online (accompanied by searching for available flights and passenger details and payment), online check in (selecting passenge r and flights, change seats any warning and printing boarding pass), and mobile check in (involves visiting the website and selecting domestic check in, retrieving the booking. References Bienstock, C.C., Mentzer, J.T. and Kahn, K.B., 2015. How are Service Firms Measuring and Managing Service Quality/Customer Satisfaction?. In Proceedings of the 1996 Academy of Marketing Science (AMS) Annual Conference(pp. 161-161). Springer International Publishing. FISK, R.P., 2013. Lmpression management 26 in services marketing: A Dramaturgical Perspective.Impression management in the organization, p.427. Kumar, V., Chattaraman, V., Neghina, C., Skiera, B., Aksoy, L., Buoye, A. and Henseler, J., 2013. Data-driven services marketing in a connected world. Journal of Service Management,24(3), pp.330-352. Lovelock, C. and Patterson, P., 2015.Services marketing. Pearson Australia. Shani, D. and Chalasani, S., 2013. Exploiting niches using relationship marketing.Journal of Services Marketing. Wilson, A., Zeithaml, V.A., Bitner, M.J. and Gremler, D.D., 2012.Services marketing: Integrating customer focus across the firm. McGraw Hill. Wirtz, J. and Lovelock, C., 2016. Services marketing: people, technology, strategy.

Corporate Governance in Banking Sector free essay sample

Therefore, they require proper accountability of the financial performance of their business. Corporate governance examines the decision process in corporations. It can also be defined as a system and process that ensure accountability, probity and openness in the operation of a corporation. Corporate governance entails the compliance of its various codes of conduct and Government Regulations. As such, companies are required to publish their business activities in their annual reports. However, some companies in UK such as Polly Peck, Bank of Credit and Commercial Bank (BCCI) and Maxwell group, have failed to meet these required regulations. These firms have failed because the directors were acting against shareholders’ interests. Most famous corporate scandals have been companies like Enron, WorldCom and Barings Bank. There was poor governance in these companies, which has been the main reason for their failure. In 1980’s, corporate governance has been a great issue of concern due to big corporate scandals resulting from lack of accountability of board members and weak accounting standards. We will write a custom essay sample on Corporate Governance in Banking Sector or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Enron, the seventh largest American company, known as the giant energy company, has also collapsed due to lack of control and poor governance. In this case, the members of the directors were falsifying the company’s accounts to show a good picture of the position of the firm. Enron ended in bankruptcy due to inadequate internal control, unethical behavior by directors and lack of independence by qualified members. According to Financial Sector Assessment (2003), Mauritius is among the groups of developing countries and its domestic bank assets indicate nearly 100% of its Gross Domestic Product (GDP). The Mauritius banking sector represents two-third of its domestic financial system. And, over the past five years it has increased at an average of 13% per year. The financial sector in Mauritius is normally good and lucrative. There are 19 banks in Mauritius with 173 branches over the country. Apart from domestic banks, in Mauritius there are also big and famous banks such as HSBC, Barclays, Deutsche, Bank of Baroda, State Bank of India, South East Asian Bank, and others. Appendix (i) provides a list of banks operating in Mauritius. Financial Services Authority (FSA), Banks of Mauritius and Code of Governance regulate banks in Mauritius. Mauritius Institute of Directors (MIOD 2008) state that due to corporate scandals in the country a code of recommended best practices were in review so that there would be responsible corporate behavior. Therefore, in 2005, the national code of corporate governance was in use in Mauritius. Everyone in the organization should participate in achieving effective corporate governance. It ranges from shareholders to employees, as they are accountable in reaching the aim and objectives of their business. Sir Adrian Cadbury (World Bank 2000) states, â€Å" the aim is to support as much as possible the interests of individuals, corporations and society†