Brand equity
Is define as the different effect that knowing the brand has on customer response to the product or is marketing.
Branding, Quality level and intellectual property and protections are obtained to stimulate consumers for the entire product category. Product is under more consideration, as first impression is the last impression.
Brand name selection 296
The “certified Angus beef”, is the brand name of the product. The brand name is made simple and it will make sense to consumers. The brand name on the figure suggest a meaning that consumers are certified since 1978. Consumers has perceive t….
Brand positioning
The brand name has been positioned to consumer’s perceptions by using the phrase “Beef Master Abattoir” to position it.
…show more content…
Producer’s plays a major role to supply the BMA abattoir, the quantity supplied will greatly depend on quantity demanded in the market. In this case the supply will only offer the abattoir to further processes of products to satisfy customers.
BMA Abattoir
The BMA will have well designed facilities that will support the slaughtering, storing and processing of cattle meat to different kinds. The BMA depends on producer cattle to slaughter. When delivering cattle to the abattoir they are disinfected immediately to control all major threat that can contaminate water. The abattoir will process the cattle according to a slaughtering schedule. The abattoir will then pass or supply the meat to indirect channels namely customers and consumers and retailer.
Retailer and
…show more content…
The BMA will have more competitors, on retailers as the competitors will be supplying the same product at the same time. BMA has planned to extend product life cycle to defend market share, reasonably than making profits. BMA decides to differentiate its product from stake to several product including, wors and beef mince. BMA can add value to the beef steak by including a portion of wors or mince for convince. Price will be reduced to attract consumes and to compete with the competitors. BMA will have new channels to distribute the products. The BMA will offers more promotions and advertisement to retailers to get a shelf preference over
Within the United State there is only one set of standards to grade beef and beef products being distributed interstate. The USDA put these standards in place after the Wholesome Meat Act of 1967 which states that, “USDA has authority to control movement of unfit meat and meat products and to require poultry products in interstate and foreign commerce to meet Federal inspection standards.” There are seven standards in place for commercial beef sale in the United States; they are on a sliding scale. Excellent quality beef is labeled as prime, which has a high degree of marbling or fat throughout the back, loin, ribs, and rump. Prime beef is going to be mainly used in steakhouses and restaurants throughout the nation. The quality of this particular type of beef is superior to the next standard of beef, choice...
In every given business, the name itself portrays different meanings. This serves as the reference point and sometimes the basis of customers on what to expect within the company. Since personality affects product image (Langmeyer & Shank, 1994), the presence of brand helps in the realization of this concept. Traditionally, brand is a symbolic manifestation of all the information connected with a company, product, or service (Nilson, 2003; Olin, 2003). A brand is typically composed of a name, logo, and other visual elements such as images, colors, and icons (Gillooley & Varley, 2001; Laforet & Saunders, 1994)). It is believed that a brand puts an impression to the consumer on what to expect to the product or service being offered (Mere, 1995). In other application, brand may be referred as trademark, which is legally appropriate term. The brand is the most powerful weapon in the market (LePla & Parker, 1999). Brands possess personality in which people associate their experience. Oftentimes, they are related to the core values the company executes.
Branding is defined as “the promot[ion] of a product or service by identifying it with a particular brand” (Merriam-Webster, 2015). Branding is also used to create a corporate image or brand by utilizing logos, corporate statements, and other images that will be associated with or displayed on all of that company’s products (Wolak, 2002). A brand is a valuable, enduring asset that is essential in creating and maintaining competitive advantage in an industry (Wolak, 2002; Murphy, 1988). This corporate asset can be just as important as the product or service behind it, because it carries name recognition and peace of mind to customers in the purchase decisions they make everyday (Hall, 2008). Brands essentially work as a “shorthand device” for consumers to evaluate product decisions by conveying a message of uniform quality, credibility, and experience
Distinguishing one product from another depends on the target market’s ability and in turn the success of any business or consumer product (Lamb, Hair & McDaniel 2009). In the marketing industry and the business world, brand is defined as “a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of others.” (Bennett, P.D., 1995). Brands are a common part of marketing and they serve as value to consumers. Brands also give firms a competitive edge over another and a certain leverage over its customers.
Such products include vaccines, medications, and antibiotics to support healthy and consistent herds of beef producing cattle. It segments the market into three distinct categories. Hobbyists herd less than 100 cows; Traditionalists commonly carry between 100 to 499, and businesses are working with 500 or more. (Mohr, 1999) Time spent in the field with the ranchers was allocated based on the volume of product purchased by each individual.
People are buying the product which gives them prestige. Marketers have interest on consumer psychology and they are playing with every day by showing that their product will give prestige in the society. It’s true that the transparent societies now needs brands image. Marketers analyze the interest and needs of consumer than create the product according to the need of the society. Brand can attain the people attraction and the business can have the good reputation by giving satisfaction to consumer. If the brand gives satisfaction and function are according to the expectation of consumer than the brand gets good image on the mind of consumer. brand image is great weapon to use for the competitors it builds in years , at once the business gets brand image it has competitive edge from other brands in the market. When consumer rely on the brand the company can create the long term relation with the consumer, in other words (CRM) consumer relationship management. The brand image has effect on the choice of every individual there believe and attitude change their preferences. Brand image can be effected by price as price is an important part for consumer when they are making purchase decision if they find the value of brand is equal to the pricing they purchase that brand if not they refuse it. Similarly the image of brand can be effected by the attributes and features or
An abundance of Americans have no idea that most of the food that they consume are either processed or altered in one way or another. “Almost all beef cattle entering feedlots in the United States are given hormone implants to promote faster growth. The first product used for this purpose is DES (diethylstilbestrol) it was approved for use in beef cattle in 1954. An estimated two-thirds of the nation's beef cattle were treated with DES in 1956. (Swan, Liu, Overstreet, Brazil, and Skakkebaek)” Many people enjoy the various meats that comes from a cow, but that would probably change if the consumers knew that cattle is one of the most processed meat source in the market today because of the synthetic hormones that the cows are given. “ The three synthetic hormones are the estrogen compound zeranol, the androgen trenbolone acetate, and progestin melengestrol acetate. (Swan, Liu, Overstreet, B...
What is branding? Branding has been advocated as a potentially successful response to heightened market concentration; it offers the possibilities of centralized control and format standardization, and an added value or cost driven strategy can be used to differentiate the retail offering and reinforce market positioning. Brands provide informational cues for buyers about the store's merchandise quality, and favourable images of brands positively influence patronage decisions." Successful retail branding can provide a form of "insulation" against price competition and states: "Where the store brand name is itself a brand name based on a quality appeal, it will be easier to position the own brand as a premium product under the same name" (Schmidt, R., & Pioch, E., 2005). Further as consumers, we tend to think about brands as symbols like the Nike swoosh or McDonald’s golden arches; the working definition of a brand is broader. A brand is usually defined as a name, logo, symbol, words, or combination of these, intended to distinguish a particular company’s offerings from those of competitors. In this sense, the modern use of the word “brand” harkens back to its older meaning which is a distinguishing mark or burn to identify wine, livestock or other commodities by their owner (Koehn, N., 2013).
Companies use a collection of brand equities to represent their products in the market (Voolnes, 2012). Brand equity refers to the commercial value that is derived from the perception of consumers on any given brand name of particular products in the market as opposed to the product itself. Ataman (2003) notes that the effect to the consumer is in the brand name and not the product itself. Companies use logos, trademarks and a collection of other symbols to present this information to the customers. The use of these symbols is meant to try and capture the customer mindset so that they can be thinking about the company products at all times through the items they possess at home (Estes, Gibbert, Guest, & Mazursk, 2012). This can well be explained by use of the customer-based brand equity model that brings together the requirements for a publicly renowned brand in the market.
Lastly, brand awareness is a crucial consideration. And It may be thought of as a consumers’ ability to find a brand within a group in adequate detail to make a purchase. It is important to remember that adequate detail does not always need identification of the brand name. Often “brand awareness is no more than a visual image of the package that stimulates a response to the brand.” Moreover, recall of the name is not necessarily required because brand awareness in which can try via brand recognition. According to Emma Macdonald and Byron Sharp (2003), suggested, when a brand is recognized at point of purchase, its brand awareness does not need brand recall. This is a major point in the consideration of brand awareness as the most important communication objective. In fact, the difference is misunderstood by marketing and advertising managers. The difficulty is to relate to the essential difference between recognition and recall, that is extremely important to advertising strategy. Brand recognition and brand recall are two separate types of brand awareness. The difference depends upon the communication effect that occurs primarily in the consumers’ memory.
This article studies the relationship between advertising and sales promotions and their impact on brand equity. A main priority for most companies is to establish and achieve a strong and powerful brand name. A company can build a strong brand name by creating the market for their customers want. By creating a strong brand name, a company will become more established. Brand equity is important to the producer, retailer and consumer. The consumer knowledge of the brand says how the producer will produce and market the product. The consumer knowledge of the brand name also determines the quantity the retailer will sale. Brand equity can have a positive or negative effect. A positive effect would be for everyone to recognize the name and purchase the product. The negative effect would be to have the product recalled. Brand equity is important because it can offer many advantages for a company. Brand equity can create a high demand for your product, reduce marketing cost and the company’s brand name will have high credibility.
[a] company may have a unique vision, a superior product, strong management and an efficient distribution system – yet if it is not able to convey the core benefits of the brand to its target audience it will ultimately fail. [5]
A brand identifies a seller’s product from a competitor’s product. There are three main purposes for branding product identification, which is the most important purpose, repeat sales, and new-product sales. Branding has a lot of terms that marketers use there is brand equity, global brand, and brand loyalty. Marketers also have different brand strategies that they use for different products or customers. It all depends on the consumer for them to decide which strategy they will use. The different strategies are generic products, manufacturer’s brands, private brands, individual brands, family brands, and co-branding. The branding purposes and the branding strategy make up the importance of branding.
Product is the core of marketing, which including tangible goods like food or drinks or intangible services, as it is the major way to embody customers requirements; and, branding is directly associated with it. In fact, branding is all about decisio ns of products, like brand names or trademarks. Stork (2007) asserted that a brand is a unique business identity which represents the personality, quality or origin of products. And, such a product which added value by branding would appear in every activity of marketing, namely, branding is actually react on the whole marketing system directly and indirectly.
Every company seeks to create its own brand - a unique and effective image. Purpose of brand is attracting and retaining customers in its market share. Branding in marketing is a complex technology, aimed at making advantageous position a brand from the competition. Facilitating the search for the necessary goods to the buyer, branding in marketing becomes more effective if the consumer product features meet market requirements. It is especially necessary to identify the goods, for a case of unprepared buyer which can not assess the competitive characteristics (for example, high-tech products). The development of technology has had a huge impact on human society. It is reflected in the fact that we are surrounded by complex technical devices that we use every day and sometimes we have no idea of how this thing is located within. Here the brand comes to help the consumer that stands out from all those product characteristics that are important to the consumer and facilitates the understanding of the product.