Name of student: Glenn Mark L.

Nochefranca
Department: College of business Administration
(CBA)
Section: BFM 212
Subject description: (BUSMARK)
Date of submission: MAY 31, 2022
FINALS PROJECT
Summary and reflection

First topics on WEEK 7

What is a brand? Brand name?

- What Is a Brand?

The term brand refers to a business and marketing concept that helps people

identify a particular company, product, or individual. Brands are intangible, which

means you can't actually touch or see them. As such, they help shape people's

perceptions of companies, their products, or individuals. Brands commonly use

identifying markers to help create brand identities within the marketplace. They

provide enormous value to the company or individual, giving them a competitive

edge over others in the same industry. As such, many entities seek legal

protection for their brands by obtaining trademarks.

Brand Name

Brand name is one of the brand elements which helps the customers to identify and

differentiate one product from another. It should be chosen very carefully as it

captures the key theme of a product in an efficient and economical manner. It can

easily be noticed and its meaning can be stored and triggered in the memory

instantly. Choice of a brand name requires a lot of research. Brand names are not

necessarily associated with the product. For instance, brand names can be based on

places (Air India, British Airways), animals or birds (Dove soap, Puma), people

(Louise Phillips, Allen Solly). In some instances, the company name is used for all

products (General Electric, LG).

7.2 Why Brand?

- Why Brand?

In many ways, you can appeal to people’s emotions through branding and make

them feel more connected to your company. Branding allows you to build

relationships with your audience, which can eventually turn them into loyal

customers. You can create a brand that people actually care about and put

yourself ahead of businesses that aren’t using this to their advantage.

A brand is considered to be one of the most valuable and important assets for a

company.
7.3 What are brand associations?

- What are brand associations?

Brand Associations are not benefits, but are images and symbols associated with a

brand or a brand benefit. For example- The Nike Swoosh, Nokia sound, Film Stars

as with “Lux”, signature tune Ting-ting-ta-ding with Britannia, Blue colour with

Pepsi, etc. Associations are not “reasons-to-buy” but provide acquaintance and

differentiation that’s not replicable. It is relating perceived qualities of a brand to a

known entity. For instance- Hyatt Hotel is associated with luxury and comfort;

BMW is associated with sophistication, fun driving, and superior engineering.

Most popular brand associations are with the owners of brand, such as - Bill Gates

and Microsoft, Reliance and Dhirubhai Ambani.

7.4 What are branding strategies?

- What are branding strategies?

Brand strategy refers to a long-term plan that focuses on the development of a

successful brand. The plan is used by businesses to create a

particular image among current and potential customers. Once a company has

executed a successful brand strategy, customers will associate with the brand and

what it does, without being told who the company is.

Large companies such as Coca-Cola benefit from a successful brand strategy.

Customers associate more with the company, helping drive purchasing decisions.

A successful brand strategy should be well-formulated and executed at all business

functions, with the goal of achieving improved financial performance, competitive

advantage, and customer experience.

7.5 How is brand equity determined?

- How is brand equity determined?

As companies increasingly move their focus from the product to the

consumer, the general perception of a brand is more important than ever.

Additionally, roughly 74% of today’s customers expect more from brands in

regard to how they treat customers, employees and the environment. To stay

ahead of this shift, organizations need to consider how their various marketing

initiatives contribute to brand awareness. Let’s take a look at the strategies

that they can leverage in order to effectively build and improve upon on their

overall brand equity:

WEEK 8
8.1 Why are new products are important?
- Why do companies introduce new products?

There are many reasons why companies bring products to market place. The one

we would naturally think of is to make more money, but that is generally only one

of the reasons. Changing Consumer Needs

Companies need to stay in touch the changing needs of consumers. Companies

cannot remain with traditional product lines and expect them to sell well for years

on end. Yes we have learnt through the concept of product life cycle that some

product categories stay in maturity for a long time, sometimes decades. However,

even those industries need to look at the changing needs of the market. A good

example here would be Kellogg’s a major manufacturer of cereals. When you

think to what is the underlying need for cereal it would probably be something

like “a fast, easy to prepare, easy to consume, low-cost, healthy breakfast”.

8.2 What is a product life cycle?

- The lifecycle of products and services

There are five key stages in the lifecycle of any product or service.

Development - at this point your product or service is only an idea. You're

investing heavily in research and development.

Introduction - you launch your product or service. You're spending heavily on

marketing.

Growth - your product or service is establishing itself. You have few competitors,

sales are growing and profit margins are good. Now's the time to work out how

you can reduce the costs of delivering the new product.

Maturity - sales growth is slowing or has even stopped. You've been able to

reduce production and marketing costs, but increased competition has driven down

prices. Now is likely to be the best time to invest in a new product.

Decline - new and improved products or services are on the market and

competition is high. Sales fall and profit margins decline. Increased marketing will

have little impact on sales and won't be cost-effective unless new markets are

identified.

8.3 How do new products and Brand Extensions fit in marketing strategy?

A brand extension is when a firm uses an established brand name to introduce a

new product. When a new brand is combined with an existing brand, the brand

extension can also be called a sub-brand. An existing brand that gives birth to

a brand extension is referred to as the parent brand. If the parent brand is already

associated with multiple products through brand extensions, then it may also be

called a family brand.

In line extension, the parent brand is used to brand a new product that targets a

new market segment within a product category currently served by the parent

brand. A line extension often involves a different flavor or ingredient variety, a

different form or size, or a different application for the brand (e.g., Head &

Shoulders Dry Scalp shampoo). Most new products are line extensions–typically

80 percent to 90 percent in any one year. Moreover, many of the most successful

new products, as rated by various sources, are extensions (e.g., Microsoft Xbox

video game system, Apple iPod digital music player, and BMW mini automobile).

Advantages of Brand Extensions

Improve Brand Image

Reduce Risk Perceived by Customers

Increase the Probability of Gaining Distribution and Trial

Increase Efficiency of Promotional Expenditures

Reduce Cost of Introductory and Follow-Up Marketing Programs

Avoid Cost of Developing a New Brand

Allow for Packaging and Labeling Efficiencies

Permit Consumer Variety-Seeking

 Clarify Brand Meaning

 Enhance the Parent Brand Image
 Bring New Customer into the Brand Franchise and Increase Market
Coverage
 Revitalize the Brand
 Permit Subsequent Extensions
Week 9
9.1 Why is pricing so important?

- Price is both the money someone charges for a good or service and what the

consumer is willing to give up to receive a good or service.

Buying something means paying a price. But what exactly is “price? ”

 Price is the money charged for a good or service. For example, an item

of clothing costs a certain amount of money.

 Price is also what a consumer must pay in order to receive a product

or service.

 Price is the easiest marketing variable to change and also the easiest

to copy.

Even though the question, “How much? ” could be phrased as “How much does it

cost? ” price and cost are two different things. Whereas the price of a product is
what you, the consumer must pay to obtain it, the cost is what the business pays to

make it. When you ask about the cost of a good or service, you’re really asking

how much will you have to give up to get it.

9.2 What is Low Prices?

- What is High-Low Pricing?

High-low pricing is the practice of setting the price of most products higher

than the market rate, while offering a small number of products at below-

market prices. By doing so, a retail or web store location hopes to attract

customers with its low-price offerings, at which point they will also buy some

of the high-price items. The seller hopes that the net effect of this strategy is

to increase overall profitability , despite incurring losses on the few low-priced

items.
9.3 What is High Prices?

- High Low Pricing and Reference Price

When using this pricing strategy, a reference price must be established. The

reference price is the price that buyers compare to the discounted sale price of the

product. The reference price is important in high low pricing, as it makes

consumers perceive that the product is a bargain when it is offered at a

substantially lower price.

Advantages of High Low Pricing

 Revenue generation:
 Excitement creation:
 Increased store traffic:
 Turning inventory:.

Disadvantages

 Marketing expenses:
 Consumer expectations:
 Risk of losing profit:
9.4 Customers and the psychology of pricing

- Psychological pricing is the practice of setting prices slightly lower than a

whole number. This practice is based on the belief that customers do not round

up these prices, and so will treat them as lower prices than they really are.

Customers tend to process a price from the left-most digit to the right, and so

will tend to ignore the last few digits of a price.  If a customer is accessing

information about product prices that are segregated into bands, the use of

fractional pricing can shift the price of a product into a lower price band, where

customers may be more likely to make a purchase. For example, if a customer

only wants to consider automobiles that cost less than $20,000, pricing a

vehicle at $19,999 will drop it into the lower price band and potentially

increase its sales.

9.5 Non-linear pricing

- Another approach to economic pricing is non-linear pricing. Non-

linear prices are prices that vary depending on the amount of consumption by

the customer. An example might be a water tariff, which has higher per gallon or

per liter prices for higher levels of consumption than for lower levels of

consumption. Non-linear prices are like multi-part prices in that they allow

the operator to charge prices at the margin that reflect marginal cost, while using

the inframarginal prices to manage earnings. Inframarginal prices are

the prices charged for units that are not at the margin. For example, if

a consumer purchases 1000 liters of water, the price paid for the 1000th unit is

the marginal price and the prices charged for the other 999 liters are the

inframarginal prices.
WEEK 10
10.1 What are distribution channels, Supply Chain Logistics and Why do we use them?

10.2 How to design smart distribution systems: Intensive or selective?

10.3 Power and conflict in Channel Relationships

-A distribution channel, in simple terms, is the flow that a good or service follows

from production or manufacturing to the final consumer/buyer. Distribution

channels vary but typically include a producer, a wholesaler, a retailer, and the

end buyer/consumer. A distribution channel can also provide a sense of how

money flows back from the buyers to the producer or original point of sale.

For manufacturers, it is very important to create a mix of distribution channels

that allow for ease of availability for the consumer, i.e., a good marketing mix.

Based on the diversity and scope of a manufacturing business or any other

business that can be found in the distribution process, the respective business
needs to settle on a channel or channels that allow for good sales generation and

ease of access for consumers.

Role of Distribution Channels in Business

The target for any business is to bring their product or service to the market and

make it available for consumers by creating a distribution path or channel. The

link between producers and the end consumer is normally intermediaries, such as

wholesalers, retailers, or brokers. The intermediaries can be natural persons or

businesses. Distribution channels affect the prices of goods and their positioning

in their respective markets.

Types of Distribution Channels

Distribution channels can either be direct or indirect. The indirect channels can be

divided up into different levels.

1. Direct distribution channels

The direct distribution channel does not make use of any intermediaries. The

manufacturer or producer sells directly to the end consumer. The direct form of

distribution is typically used by producers or manufacturers of niche and

expensive goods and items that are perishable. An example is a baker.

2. Indirect distribution channels

The indirect distribution channel makes use of intermediaries in order to bring a

product to market. The three types of indirect channels are:

One-level channel

The one-level channel entails a product coming from a producer to a retailer and

then to the end buyer. The retailers buy the product from the manufacturer and
sell it to the end buyers. The one-level channel is ideal for manufacturers of

furniture, clothing items, toys, etc.

Channel Selection Factors

Selecting the best marketing channel is critical because it can mean the success or

failure of your product. One of the reasons the Internet has been so successful as a

marketing channel is because customers get to make some of the channel decisions

themselves. They can shop virtually for any product in the world when and where

they want to, as long as they can connect to the Web. They can also choose how

the product is shipped.

Channel conflict. We have seen throughout the term that conflict exists between

channel members. For example, Coca Cola would like to increase its sales by

offering a discount on its cans. However, the retailer knows that overall soda sales
will not go up much when Coke is put on sale—consumers who bought other

brands will just switch, for the most part. Therefore, the retailer might like to

"pocket" any discount that Coke offers.

Channel Power

Strong channel partners often wield what’s called channel power and are referred

to as channel leaders, or channel captains. In the past, big manufacturers like

Procter & Gamble and Dell were often channel captains. But that is changing.

More often today, big retailers like Walmart and Target are commanding more

channel power.
WEEK 11 TOPICS
11.1 What is advertising?

11.2 Why is advertising important?

11.3 What marketing goals are sought from advertising campaigns?

11.4 How is advertising evaluated?

- Advertising is any paid form of communication from an identified sponsor or

source that draws attention to ideas, goods, services or the sponsor itself. Most

advertising is directed toward groups rather than individuals, and advertising is

usually delivered through media such as television, radio, newspapers and,

increasingly, the Internet. Ads are often measured in impressions (the number of

times a consumer is exposed to an advertisement).

The Purpose of Advertising

Advertising has three primary objectives: to inform, to persuade, and to remind.

Companies use many different forms of media to communicate about sales

promotions, such as printed materials like posters, coupons, direct mail pieces and

billboards; radio and television ads; digital media like text messages, email,

websites and social media, and so forth.

Companies use sales promotions to increase demand for their products and

services, improve product availability among distribution channel partners, and to

coordinate selling, advertising, and public relations. A successful sales promotion

tries to prompt a target segment to show interest in the product or service, try it,

and ideally buy it and become loyal customers.

The Benefits of Market Research

Market research can deliver valuable benefits to companies like yours. Let’s look

at some of the most impactful ways market research can empower your company

to succeed.
Ad Testing and Measurement

When organizations are poised to make a large investment in any type of

advertising, it is wise to conduct marketing research to test the advertisements with

target audiences before spending lots of money on ads and messages that may not

hit the mark

Anatomy of an Advertisement

Advertisements use several common elements to deliver the message. The visual is

the picture, image, or situation portrayed in the advertisement. The visual also

considers the emotions, style, or look-and-feel to be conveyed: should the ad

appear tender, businesslike, fresh, or supercool? All of these considerations can be

conveyed by the visual, without using any words.

Developing Effective Ads: The Creative Strategy

Effective advertising starts with the same foundational components as any other

IMC campaign: identifying the target audience and the objectives for the

campaign. When advertising is part of a broader IMC effort, it is important to

consider the strategic role advertising will play relative to other marketing

communication tools. With clarity around the target audience, campaign strategy,

and budget, the next step is to develop the creative strategy for developing

compelling advertising. The creative strategy has two primary components:

the message and the appeal.

Budget

When considering advertising as a marketing communication method, companies

need to balance the cost of advertising–both of producing the advertising pieces

and buying placement—against the total budget for the IMC program.
Selection and Implementation

The media planner must make decisions about the media mix and timing, both of

which are restricted by the available budget. The media-mix decision involves

choosing the best combination of advertising media to achieve the goals of the

campaign. This is a difficult task, and it usually requires evaluating each medium

quantitatively and qualitatively to select a mix that optimizes reach and budget

Advantages and Disadvantages of Advertising

As a method of marketing communication, advertising has both advantages and

disadvantages. In terms of advantages, advertising creates a sense of credibility or

legitimacy when an organization invests in presenting itself and its products in a

public forum. Ads can convey a sense of quality and permanence, the idea that a

company isn’t some fly-by-night venture. Advertising allows marketers to repeat a

message at intervals selected strategically. Repetition makes it more likely that the
target audience will see and recall a message, which improves awareness-building

results.

Kinds of tests to measure effectiveness of advertising

Various kinds of tests are used to measure the effectiveness of advertising. These

are: exposure; attention, comprehension, attitude change, and behavior or action.

WEEK 12
12.1 What are customer evaluations and why do we care?

12.2 Loyalty and customer relationship management (CRM)

- Quality Glossary Definition: Customer satisfaction

Customer satisfaction is defined as a measurement that determines how happy

customers are with a company’s products, services, and capabilities. Customer

satisfaction information, including surveys and ratings, can help a company

determine how to best improve or changes its products and services.

An organization’s main focus must be to satisfy its customers. This applies to

industrial firms, retail and wholesale businesses, government bodies, service

companies, nonprofit organizations, and every subgroup within an organization.

1. What does it take to satisfy them?

WHO ARE THE CUSTOMERS?

Customers include anyone the organization supplies with products or services. The

table below illustrates some supplier-customer relationships.

Note: that many organizations are both customers and suppliers.

Organizations should not assume they know what the customer wants. Instead, it is

important to understand the voice of the customer, using tools such as

customer surveys, focus groups, and polling. Using these tools, organizations can

gain detailed insights as to what their customers want and better tailor their

services or products to meet or exceed customer expectations.

Move from Product to Customer Centric (Quality Progress) "Customer

centricity" is about listening to your customers, with a focus on collecting,

understanding, and acting on customer feedback and providing tools for easy

access to this information.

Don’t Measure Customer Satisfaction (Quality Progress) Customer perceived

value is a better alternative to traditional customer satisfaction measurements.

Linking Customer Satisfaction to Product Design: A Key to Success for

Volvo (Quality Management Journal) A framework for bridging the quality

satisfaction gap at Volvo integrates quality function deployment and customer-

satisfaction modeling.

Post-Purchase Behavior

Post-purchase behavior is when the customer assesses whether he is satisfied or

dissatisfied with a purchase.

Customer Expectations

Successful businesses work proactively to obtain information from their customers

to ensure they are meeting their needs.
Customer Feedback

Service quality generally refers to a customer’s comparison of service expectations

as it relates to a company’s performance.

Why CRM?

In the commercial world the importance of retaining existing customers and

expanding business is paramount. The costs associated with finding new customers

mean that every existing customer could be important.

Business benefits of CRM

Implementing a customer relationship management (CRM) solution might involve

considerable time and expense. However, there are many potential benefits
How to implement CRM

The implementation of a customer relationship management (CRM) solution is

best treated as a six-stage process, moving from collecting information about your

customers and processing it to using that information to improve your marketing

and the customer experience.

Questions for CRM suppliers

For many businesses customer relationship management (CRM) can be a large

investment. Therefore it is vital to choose your supplier carefully. Making the

wrong choice could be expensive and even jeopardise your business. Before

implementing a solution based on CRM technology

WEEK 13
13.1 Why is marketing research so important?

13.2 Cluster analysis for segmentation

13.3 Perpetual mapping for positioning

13. What is a marketing strategy?

13.5 How to do strategy?

13.6 Key marketing metrics to facilitate marketing strategy

- Wish you had information on your product’s likelihood of success? Think With

Google's marketing research tools offer interesting insights on whether anyone is

looking for your product (Google Trends), which markets to launch to (Market

Finder), and what retail categories rise as the months and seasons pass (Rising

Retail Categories).

If you’d like to market your product through YouTube, the Find My Audience tool

allows you to investigate what your potential viewers are interested in and what

you should discuss in your brand’s YouTube channel.

In Data Analytics we often have very large data (many observations - “rows in a

flat file”), which are however similar to each other hence we may want to

organize them in a few clusters with similar observations within each cluster. For

example, in the case of customer data, even though we may have data from

millions of customers, these customers may only belong to a few segments:

customers are similar within each segment but different across segments. We may

often want to analyze each segment separately, as they may behave differently

(e.g. different market segments may have different product preferences and

behavioral patterns).

Perceptual Mapping

Perceptual mapping is a graphic display explaining the perceptions of customers

with relation to product characteristics.

Write a successful marketing strategy

Your well-developed marketing strategy will help you realise your business's goals

and focus on the actions required to reach the right customers.

Developing a marketing strategy that includes the components listed below will

help you make the most of your marketing investment, keep your marketing

focused, and measure and improve your sales results.

Importance of Marketing Strategy

 Marketing strategy provides an organization an edge over it’s competitors.

 Strategy helps in developing goods and services with best profit making

potential.
  Marketing strategy helps in discovering the areas affected by organizational

growth and thereby helps in creating an organizational plan to cater to the

customer needs.

Identify your business goals

Align your marketing strategy to the business goals outlined in your business plan;

you can then define a set of marketing goals to support them. Your business goals

might include:

 increasing awareness of your products and services

 selling more products from a certain supplier

 reaching a new customer segment.

Research your market

Research is an essential part of your marketing strategy. You need to gather

information about your market, such as its size, growth, social trends and

demographics (population statistics such as age, gender and family type). It is

important to keep an eye on your market so you are aware of any changes over

time, so your strategy remains relevant and targeted.

Use the '7 Ps of marketing'

Reach your selected market by utilising the 7 Ps of marketing mix. If you can

choose the right combination of marketing across product, price, promotion, place,

people, process and physical evidence, your marketing strategy is more likely to be

a success. You can choose any combination of these to achieve your marketing

strategy.
Test your ideas

In deciding your tactics, do some online research, test some ideas and approaches

on your customers and your staff, and review what works. You will need to choose

a number of tactics in order to meet your customers' needs, reach the customers

within your target market and improve your sales results.