SUMMARY OF RETAIL CONCEPT AND BRAND PERSONALITY
In a contemporary market place, retail branding is considered paramount in the retailing industry to influence customer perceptions and drive store choice and loyalty. Ailawadi (2004).
Digital Marketing Group (2004) defines effective branding as the proprietary visual, emotional, rational, and cultural image associated with a company or a product. The purpose of having people remember the brand name and have positive associations with that brand is to make their product selection easier and enhance the value and satisfaction they get from the product.
The first store examined, being Worldwide Appliances at Glendale, would be categorized as a “premium home electrical and appliance store.” The store has a wide offering from luxury high end audio visual equipment to common need based items such as kettles, irons and ovens.
Worldwide Appliances branding consists of a long running slogan “Where the worlds best brands, compete for your prices!” This statement asserts the organizations desire to be considered as a provider of high quality products, whilst still remaining price competitive. This branding diversification allows Worldwide to compete for multiple niche markets.
Levy and Weitz (2004) classify the retail concept as “a management orientation which is aimed towards determining the needs of the retailer’s target market and directing the firm to satisfying those needs” When considering the retail concept that Worldwide Appliances have adopted, it has created a mixed or unique concept that has been well absorbed by consumers. Through the combination of high end products and the exploitation economies of scale utilized through its large size, it can offer warehouse style prices on its upper range of electrical products. This creates an immediate competitive advantage over smaller electrical stores.
A holistic brand image integrates entities such as values, colours, name, symbols, words and slogans (Chernatony: 2000) Worldwide can not be completely classified with a singular holistic brand image, in fact their strength lies in their ability to be related with two contrasting images. One of simplicity, discount prices and availability when common place electrical products are considered such as small electrical goods; and that of a high quality, knowledgeable, want –based supplier when products such as home theatres and imported boutique brands are considered (eg. Audioloop)
KEY DRIVERS OF RETAIL IMAGE
The second examined store was The Good Guys at Kotara. This store, through its branding, does an excellent job of defining itself to its potential consumers. The recent addition of
The Italian Centre Shop shows many attributes as for how they are able to build on their strengths. This in the end helps a company to expand and grow further to improve their internal performance and as well by gaining more consumers (Kerin, et al., 2015). Firstly, the company’s main strength relies on the location of the different branches, being placed strategically so it is easier to bring in more consumers as well as being easily accessible for people around those areas. Two of the three locations in Edmonton are situated beside shopping centers, Southgate mall and West Edmonton mall, which in the West end is the most popular attraction of the city. The third branch is located in North Edmonton which is known for the heart of “Little Italy”(Spinelli, 2016). Secondly, the Italian Centre Shop sells a variety of merchandise and different cuisine from all around the world, the main place being Italy and others which include: Spain, Romania, Portugal, Ukraine and Poland (Spinelli, 2016). This helps to expand the company’s target market while still keeping
Lowe’s is leading the way by example. Lowe’s believes that creating long-term partnerships is a win-win situation for both sides of the deal. Lowe’s is the second largest home appliance retailer in the country, by working hand in hand for twenty-six years with Whirlpool, the largest marketer and manufacturer of home appliances. Whirlpool and Lowe’s have worked together to become unmatched in bringing their customers a high quality product and a very low competitive price. Through a tremendous logistical effort Whirlpool and Lowe’s have created a one of a kind Innovation Tour. A semi-trailer transforms itself into a functioning kitchen to show customers cutting edge appliances that will be available at Lowe’s in the future from Whirlpool and Kitchen Aid. As Lowe’s motto states, Lowe’s truly is “Improving Home Improvement”. (http://www.businesswire.com/)
Joel Makower's Woodstock: The Oral History was particularly effective in examining Woodstock as it was experienced by the producers of the festival. The book's approach is atypical in the sense that it spends considerable time addressing exactly why and how the festival came into existence instead of droning on about drug use and mud slides. The ordeal began when John Roberts and Joel Rosenman, wealthy young entrepreneurs, placed an ad in The Wall Street Journal declaring, "Young men with unlimited capital looking for interesting and legitimate business ideas."[1] Michael Lang and Artie Kornfeld, representing only one of the thousands of replies that Roberts and Rosenman received, proposed building a recording studio for musicians in Woodstock, New York.[2] This original idea was obviously modified and resulted in the Woodstock festival as it is known today. The book effectively details everything from the initial catalyst to the re...
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.
Due to the good establishment of the business, it has huge market national. The company has therefore opened many retail shops and stores all over the country to ensure that their products are accessible to the customers. The entity provides a favorable environment, and many clients view the place as a fun shopping place to be. The retailer has targeted a big pool of customer because of the variety of products it sells. The stores products vary from kitchen goods, jewelry, and electronics clothes to hardware
They ended up spending a little over 500,000 dollars for the whole festival. The lineup of artists was a long line, the first artist to sign was, Creedence Clearwater Revival. Creedence Clearwater Revival sparked many others to sign and play at Woodstock. The lineup went in order of Richie Havens, Sweetwater, Bert Sommer, Tim Hardin, Ravi Shankar, Melanie, Arlo Guthrie, Joan Baez, Quill, Country Joe McDonald, John B. Sebastian, Keef Hartley Band, Santana, Incredible String Band, Canned Heat, Grateful Dead, Leslie West & Mountain, Creedence Clearwater Revival, Janis Joplin, Sly & The Family Stone, The Who, Jefferson Airplane, Joe Cocker, Country Joe & The Fish, Ten Years After, Johnny Winter, Blood Sweat And Tears, Crosby, Stills, Nash & Young, Paul Butterfield Blues Band, Sha Na Na, Jimi Hendrix. According to Artie Kornfeld, the only well known band from the time that didn’t play at Woodstock was The
Each floor I stopped at had a variety of stores. From eery-looking stores selling Halloween and magic merchandise to a magazine shop selling vintage Playboys and Time magazines from the 40s, to a saloon that invited customers, every corner filled up with something worth staring at or dropping my jaw on. Tibetan artefacts, leather bags, indie artist studios, thrift shops, liquor stores, stationary, carpentry shops, jewellery stores, clothing like t-shirts, hats, ties, and belts, pet care, human care, hair styles, Seattle mementoes, and thousands of other little and large shops lit up as customers
They wanted to create their own music studio but did not have the money. In order to get enough money for the studio, they decided to make a concert name “Woodstock”. To establish this concert, they went through many court cases, the main one being a case in the Supreme Court that favored for the festival to eventually happen. In order to make their money back, they needed to make at least two million dollars just to pay for all of their expenses. This is said by rock journalist Simon Warner when he explains the financial situation of Woodstock Ventures, “[A]dvance ticket sales had generated $1.3 million and first day sales of $140,000 had raised the total to 1.5 million, expenses would run close to 2 million,” (Beyond the Myth: A deeper look at the 1969 Woodstock Festival, http://www.woodstockpreservation.org). In the end, they only ended up making about one and a half million dollars from Woodstock. This was not enough money to start up a music studio or pay off what they owed for having the concert. Woodstock Ventures ended up being bankrupt. Woodstock of 1969 was an economic
We propose a branding strategy which takes into account the brands capabilities and competencies, strategies of competition brands and the outlook of consumers experience in their respective societies. As an international brand there is the challenge of staying connected with local customers. We will overcome this by adapting marketing strategy to local needs using a variance of standardized marketing mix and an adapted marketing mix.
S.H. Kress achieved a unique architectural distinction in both defining a brand identity while simultaneously fitting in with the five-and-dime market and the local main street character of each town. He was a pioneer in creating company brand identity through a “signature storefront”. He viewed his buildings as an advertisement and each store had some components that were standardized, reflecting the popular assembly line approach at that time, while other components varied based on the location to fit within each town culture.
With the intensifying competition in the home appliances market, China’s consumers’ consumption behavior was gradually becoming rational and mature. They would pay more attention to product quality and after-sale service, and the price factor was becoming less influential. To keep pace with the times, only focusing on low price is far from enough to maintain channel leadership.
Believe it or not The Coachella Music and Arts Festival started out as a protest in 1993. The band Pearl Jam protested against Ticketmaster and all the auditoriums they controlled in Southern California in November of 1993. They chose to host in their concert at the Empire Polo Club in Indio, California. It wouldn't be until six years later that the festival would be founded by Paul Tollett with help from Goldenvoice, a promoting company and brings thousands of fans out to the Colorado Desert of the very first Coachella Music Festival in 1999. The debut of Coachella was headlined by acts like Beck, The Chemical Brothers, and Rage Against the Machine and was amazing and went quite well for being first run. The first festival as it was could not compare to the ones that followed with even more attractions. In fact the first Coachella Music Festival was held in October and only at the two day event and there was no on site camping due to the madness at Woodstock'99. Many other things happen during and after the first festival including 1999 Coachella Valley Music and Arts Festival taking $800,000 hit on the inaugural event. That Paul Tollet mentioned in his interview with Billborads Mitchell Peters. They also It was not...
Today's modern concept of branding grew out of the consumer packaged goods industry and the process of branding has come to include much more than just creating a way to identify a product or company. Branding is used to create emotional attachment to products and companies. Branding efforts create a feeling of involvement, a sense of higher quality, and an aura of intangible qualities that surround the brand name, mark, or symbol.
Here, visual merchandising will be a beneficial tool in defining the exclusive identity of the brand and thereby increasing the sales and their market value. It is the appropriate time that the Indian retail industry understands and adopts the beneficial traits visual merchandising rather than the traditional practices of display of products and communication via sales personnel. The customers are trends aware and the stores on the other hand have managed to up the glamour quotient. Only a link of brand communication between the brand products and shoppers remains missing. (Pundir, 2007)
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.