BRAND MANAGEMENT & RESEARCH Essay Example | Topics and Well Written Essays - 2250 words

BRAND MANAGEMENT & RESEARCH - Essay Example We recommend Walmart to continue building its brand image not with just customer perspective but from employee and ethical perspectives as well. With its unique positioning it should continue to expand with market penetration and market expansion. Development and projection of its own brand Great Value will also help in increasing its brand value and trust of the customers and will help in maintain its positioning as low price provider by eliminating the margin of the manufacturers. Walmart is a strong brand and can even become stronger by following these strategies. 11 References 12 Introduction In this highly competitive globalized world, markets are flooded with plethora of products and services of various brands. Consumers are literally spoilt with choice. In such an environment the importance of brands has increased manifold both for the consumers and the organizations. Brand management is vital from many aspects for any organization but the most important role is providing the differentiation to the brand from competitors and other products. Brands are part of the company’s intellectual property. ... The company through its brand, make it clear what they promise and deliver to the customer based upon their vision and strategy for the future of the business and the product. It is very important for the company to have a clear understanding of the expectations of the customers and living up to those expectations. The aim of brand management is to build a healthy relationship between the customer and the company through their brand. Brand management is extremely important for the companies. Brand image can be the determining factor between success and failure of a company (Riezebos et al 2003) Today corporations spend millions on brand establishment and maintenance due to the increased importance of branding. Researchers have tried to identify the scope, domain and potential of branding. It has resulted in many different frame works, theories and concepts. Although there are mainly seven different approaches of branding but the brand strategy should be customized to meet the specifi c challenges and opportunities specific to a brand at a specific point of time. One approach of branding is economic approach where brand is part of the traditional marketing mix. The identity approach links brand with corporate identity. Consumer based approach gives prime importance to customer satisfaction and customer associations. Personality approach treats brand as a human like character. The relational approach treats brand as a viable relationship partner. The community approach treats brand as a vital point of social interaction, whereas brand is treated as part of the broader cultural picture in the cultural approach (Heding et al. 2009) Whatever approach the companies utilize for the establishment and maintenance of the

Quality management Assignment Example | Topics and Well Written Essays - 1000 words - 4

Quality management - Assignment Example In this experiment, a one half fractional experiment was conducted. It was done in k – 1 runs. The experiment was conducted to assess the effect of five factors on a coil spring. The free height of the spring was denoted as y. The goal of the experiment was to obtain a height of eight inches or a height as close to eight inches as possible. The number of factors used was five, while the number of runs was sixteen with three replicates for each run. The experiment was a 2k – 1 design, thus it was a one half fractional factorial experiment. It was denoted as 25 – 1. Based on the evaluation of the cause and effects, the following factors and factor levels were chosen for the experiment. Below is a table of the factors and the factor levels for both high denoted by a plus sign and low depicted by a minus sign. From the determined factors and factor levels the fractional factorial experiment was conducted. This was because the number of runs needed for a full factorial experiment would have been a lot. Because the resources at hand coupled with the knowledge that the relations would not be of concern, a 25 – 1 fractional factorial was used. The design matrix and the height data are given in the table below. Thus, the design was not able to differentiate D from ABC. Effect D which was the main effect was aliased with the interaction ABC. Hence, D was equal to ABC which meant that I was equal ABCD. I was the column of plus’s which was the characteristic element in the set of multiplications. I is equal to ABCD was the characterizing relation for the 25-1 design experiment. This means that all the effect aliasing relations are: A = BCD, B = ACD, C = ABD, D = ABC, AB = CD, AC = BD, AD = BC, E = ABCDE, AE = BCDE, BE = ACDE, CE = ABDE, DE = ABCE, ABE = CDE, ACE = BDE, BDE = BCE. The main effect is named clear if it is not aliased with other main