I do agree with you Varun, when tells that he is loyal to the brand named Apple, the company Apple has succeeded in retaining one customer and has gained success in it. I have tried below to tell why brand name is important to product and wise verse.
I do feel that brands are created by procedures and bear their chosen brand name. Therefore, the responsibility for marketing lies within a product. Like most of the company their brands are supported by advertising budget along with managing the distributors so that it reaches finally to the customer. When it comes to a product, it is always advanced and innovative features that comes in front than their competitors in the same category.
“From what Apple as brand in the market were till the year 2010 and today they find themselves in the top 5 brands.” #1. That is because the company like Apple had to re-create its brand position in the market by targeting few specific segment of people by specific product and the offers it can give to the customers with the help of service, quality, quantity and price.
If Apple as a brand is on the number one spot is because today they are facing more competitors at all level than earlier days. With companies like Samsung (is in the Top 10 brand list today #1) entering in to this market with almost all the product similar to Apple competition has been increased.
Now that there is a competitor in the market Apple did an aggressive marketing to market their products with in their brand name by aggressive marketing plan, wherein they initially started giving new user friendly operating system (OS) in Macbook and later on the same with iPhones too.
New iPhones (5c) was launched in the market keeping in mind the cost of the phone and similar features to ...
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...as changed and customer are used to Samsung they are finding it difficult to retain. Hence, Samsung will retain the No.1 spot for some time. Hence, it depends I feel this what Apple too has done down the years to regain the confidence of their existing customers and new customers, making the new customers think to come towards buying their products sot that the customer is benefited as well as the company seeking benefits out of it too.
“Therefore, the likes and dislikes of brand mainly depends on company and customer marketing relationship how it is build it on a long term basis by its products, prices and services to maintain the value and image of the brand.”
References
• #1.http://www.interbrand.com/en/best-global-brands/2013/BGB-Interactive-Charts.aspx
• #2. http://www.forbes.com/sites/chuckjones/2013/08/20/apple-and-samsung-who-could-win-the-smartphone-war/
Apple is a king in the technology world; poisoning every area of the industry that they have introduced a product too. They are slowly weeding their competition out. The only a company thrives in the thorn bush market is if they are in cahoots with apple. Apples co-founder Steve Jobs, started the company with all intention of dominating the market. The only obstacle for them is the Anti-trust law created ages ago. Apple, in their attempt to take the market over, has been racking up evidence against themselves. There reach has leaped boarders and even caught the attention of the European Union. Apple is pushing their boundaries and in the future will eventually cross the line in to monopolistic actions.
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.
Rivalry among existing Firms: This force seems to be a strong force in the industry. Other competitors are aggressively competing with Apple. This other firms have almost the same technological strength and capacities with Apple, they are vast in innovation and some actually spend more on research and development and advertisement more than Apple making it easy for consumers to switch brand whenever they are not getting satisfaction from the brand they already
Apple brand audit In fact, about this business one can easily write a few weighty books. Without exaggeration, we can say that Apple is one of the brightest technology companies that appeared in the 70s of the last century. Due to innovative technology and aesthetic design, Apple Inc. has established a unique reputation comparable to the cult in the consumer electronics industry. In 2014 the company was ranked first in the world by market capitalization.
Apple company consumers connect with the actual model quite totally. Duplicate acquisitions are widespread. They feel an extremely powerful addition for the model as it portrays an extremely distinct graphic. It helps make them feel that they are moving using the transforming movements given that they unique a good Apple company product or service. Quite a few Apple company customers occasionally look at the Apple company product or service the most liked property or perhaps state they really like the actual model given that they acquire quite mounted on that. Apple company features made itself to become a model how the consumer will surely have the pleased in addition to ongoing relation using. The Apple company practical knowledge has produced more deeply attitudinal ad...
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
Computers and technology makes it easier for entrepreneurs to enter this market. Not only are major tech companies competing against one another, but they are also competing against little programmers that know how to code. In our time you will never know with certainty when a small group of engineers or computer scientists are going to create, “next big thing”. Apple has been able to have a competitive advantage over its competitor by creating the highest quality products and services. Some of Apple’s current competitors are Microsoft, Google, and Facebook, and a few other tech companies as well. Most people strongly people Apple is one of the stronger company its industry, but then again some other people have biased views. Financially, they are the strongest company in the world. Also people are always willing to pay a premium for their products because of their durability, quality, and prior experiences with Apple products. Apple is always on the look at for new innovative ideas and concept that are being produced by self-motivated entrepreneurs. They are always looking to hire bright minds and let them develop within the company. A lot of entrepreneurs, programmers and engineers do not have a problem working for Apple because of their well-established perks. Apple offers its employees of the best benefits in the world. They also fairly compensate their employees that work in the front-end store as
A company’s brand is one of its most valuable assets (Green and Smith 2002). Brands owners invest millions of dollars every year in advertising and promotion to raise awareness and create demand for their brands.
In the late 1990s, with the release of Windows, Apple was placed on the right track. Apple released its’ 20th Anniversary Macintosh in 1997 which marked the beginning of Apple’s return (Crofford, 2011). The next year, Apple released the IMac, which was a highly received by the public. Apple reported over $80 billion in cash on its’ last Form 10-K filing with the Securities and Exchange Commission (Emerson, 2011). Today Apple produces several different products including IPhone...
The source of the brand features is in a connection between customers and companies that sell services or products. Consumers who choose a specific company fundamentally acknowledge to prefer that brand more than other brands rooted from the recognition of the brand’s worth.
Secondly, some light has been thrown on the previous researches by various authors on the similar topics by providing with a summarised form of the same. It helps in better understanding of the ongoing concepts and perceptions on the concept of brand and its importance.
The Apple brand name is a household name, the brand value of Apple, Inc. improved to $13,724 million in 2008 from $11,037 million in 2007 (Datamonitor PLC, 2009). Apple is different from its competitors because it produces high quality products, its products are also unique and attractive and this has helped to increase its market shares. Since Apple is known globally, 54% profits come from foreign markets (Datamonitor PLC, 2009). Apple products are easy to use and carry around, majority of its products are light, small and very easy to carry around and it has a major advantage of product diversity, there is something for every one of all ages.
In the following of this essay, the importance of branding and brand loyalty would be discussed in theory firstly, and further analysis would be made on them separately, supporting by examples of Virgin Atlantic airway. Finally, a conclusion will be given out.
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.
In order to ensure the success of a brand the company must put lots of planning and thought into the brands elements. The three brands I have chosen to examine in this branding exercise are Apple, Coca-Cola, and Target because they demonstrate many of the criteria used to evaluate brand success.