Product Marketing Essay Example | Topics and Well Written Essays - 2000 words

Product Marketing - Essay Example Brand awareness consists of brand recognition and brand recall. The former relates to consumers' ability to confirm prior exposure to the brand when given the brand as a cue. The latter relates to consumers' ability to retrieve the brand when given the product category, the needs fulfilled by the category, or some other type of probe as a cue. The management of Beijing brand awareness will play an important role in potential sponsorship decision making for three major reasons. First, it is important that potential sponsorships think of Beijing brand when they think about Olympics games. Second, Beijing brand awareness can affect decisions about brands in the consideration set, even if there are essentially no other brand associations. Finally and the most important, Beijing brand awareness affects sponsorships and consumers decision making by influencing the formation and strength of brand associations in the brand image. A necessary condition for the creation of a brand image is that a brand node has been established in memory. On the other hand, related to brand image, it is defined as perceptions about a brand as reflected by the brand associations held in consumer memory. Likewise, brand associations are the other informational nodes linked to the brand node in memory and contain the meaning of the brand for sponsorships and consumers. Based on the proposal of Keller (199... Based on the proposal of Keller (1993), marketing team of Beijing Olympics games has to consider three major categories of increasing scope: attributes, benefits, and attitudes. The attribute category is related with the features that characterize the Olympics games. Likewise, attributes are categorized in product-related and non product-related. The former is defined as the ingredients necessary for performing the product or service sought by consumers. The latter is defined as external aspects of the product or service that relate to its purchase or consumption. The four main types of non-product related attributes are: price information, packaging or product appearance information, user imagery (e.g. what type of person uses the product or service), and usage imagery (e.g. where and in what types of situations the product or service is used). In the case of management Beijing brand focused on sponsorships, marketing team has to put emphasis on user imagery. Associations of the typical sponsorship of Beijing Olympics are based not only on demographics aspect but also on psychographics. User image attributes can also produce brand personality attributes. Plummer (1985) assets that one component of brand image is the personality or character of the brand itself. Consequently, potential sponsors will expect to form part of a brand which is composed by sponsors of their same "personality" (e.g. brand image of the sponsors). The benefit category is the personal value consumers (in our case sponsorships) attach to the product or service attributes, that is, what consumers think the product or service can do for them. Benefits can be distinguished into three categories

Zara Essay Example | Topics and Well Written Essays - 1250 words

Zara - Essay Example In order to evaluate the changes in the retail clothing industry and the position of Zara, an analysis of the external environment has been carried out with the help of five forces as described below. The forces which are favourable for Zara are attractive for their future prospects whereas the forces which are less attractive poses threat to the business of Zara. There other three major external forces that have substantial impact on the business of activities of Zara. These are social factors, technological factors and economic factors. In case of social factors, changing trend of people’s choices and preferences about their clothing and apparels is one of the major issues. The company has to keep high focus on this trend so that they can come up with new designs according to the new trend in the market. In case of technological factor, most important issue to look on is adoption and use of advanced technology i.e. hi-tech machineries and techniques of production and designi ng of clothes and apparels. In case of economic factor, the volatile economy of every developed and developing market is one of the major issues to look on. This factor has high impact on price of raw materials, operating cost of the company and lastly the price of finished products. External Environment analysis of Zara (Porter’s Five Forces Analysis) Competitive rivalry in the industry The retail market in the clothing industry is highly competitive due to the presence of the Big 4 in the apparel industry, namely Zara, The Gap, Benetton and the H&M. All these companies have adopted the strategy of expanding in the global markets which has been reflected in the tight competition for market share (OaShaughnessy 57). The financial performance of Zara in 2011 denotes that the company has performed exceedingly well as compared to its competitors. The profits of Zara have increased by 12% whereas the profits of Benetton, The Gap, and H&M have changed by only 1%. The competitive s uccess for Zara is an attractive external force for Zara which has been attained due to its responsive marketing, efficient supply chain and human resource management. Threat of new entrants The retail clothing industry is highly competitive with the increasing presence of clothing companies at the regional, national as well as in the global level. The new players are also targeting the apparel industry due to the shift towards the online mode of business. Although there is threat of new entrants, Zara is comfortable in the short term as the company has developed a brand image in the international marke