MKT 100 Study Guide - Clorox, Innocent Drinks

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olivemuskrat381

14 Mar 2012

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MKT 100 Full Course Notes

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0 out of 3 points d. people are less impacted by a loss of several small amounts () than a portion of one large amount (). Question 11 d. they should note that the brand portfolio exists to maintain and increase brand equity. 3 out of 3 points d. they want to reach more price sensitive segments; they are going after a niche market. 0 out of 3 points d. messages should balance an appeal to a collective group or family while making sure the purchaser is enabled to customize or make their purchase personally expressive. 3 out of 3 points d. brand extensions only work when customers perceive that there is a tangible difference in the new product. 0 out of 3 points c. they should continue to focus on aided recall and simply never provide non- existing brand names or flavours.

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few years, British Sky Broadcasting has transformed the way people in Britain watch and use their television. Before Sky, people could never have imagined ordering a pizza or sending an email from their set. Today it's an accepted thing.

Part of Sky's success has been in its brand - in defining what makes Sky special and in expressing that difference visually, in products and in the actions of people in the company. And that brand has become one of the company's greatest assets. Brands help companies build a relationship with a customer. A good brand not only helps differentiate a company, it also helps the customer feel something as a result. A pair of Nike trainers might make a person feel more fashionable. A Sony minidisc player might make a person feel they are at the cutting edge of miniature technology. A Rolls Royce might make a person feel that they have reached the top.

Some brands even go beyond that and become so well known that they become generic. This means they're used as a general term for that type of product, even if it's a competitor's product. Walkmans, and Hoovers are a good example. People Hoover the carpet, even if they're really using an Electrolux.

A brand helps customer recognition and enables recognition to be spread by word of mouth as well as by advertising. A brand also adds value. It can allow a company to offer its products at a premium, without reducing the customers' perception of value for money. It also allows a company to extend what they offer to the customer - if a customer trusts one product from that company, they are more likely to trust (and buy) another product from the same company.

That is why Sky has invested so much in its brand. As the first entrant 16 years ago in the field of multichannel television, it had the opportunity to build strong recognition and to even establish itself as the generic brand for multichannel television.

Source: (viewed 10 February 2019)

QUESTIONS

1. In the above article, "if a customer trusts one product from that company, they are more likely to trust (and buy) another product from the same company". Discuss different ways that companies can use to increase brand loyalty. Justify your answers with relevant examples. (5 marks) (500 words)

2. In the above article "brand has become one of the company's greatest assets". Do you agree? Justify your answers with arguments and examples. (5 marks) (500 words)

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MKT 100 Study Guide - Clorox, Innocent Drinks

MKT 100 Full Course Notes

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