Strategic Marketing and Brand Equity Model

The provided assignment details a comprehensive analysis of strategic marketing activities, including the customer-based brand equity model, standardization, and adaptation of marketing mix concepts across global markets. It emphasizes the importance of regular performance monitoring to evaluate the effectiveness of these strategies. The report also highlights the need for organizational growth through continuous development of skills and innovations.

STRATEGIC MARKETING
Report

EXECUTIVE SUMMARY
The marketing strategies are useful for gaining the attention of customers towards
organisation. Without building customer relations organisations cannot achieve success. The
report has analysed the strategic marketing concept which are analysed the various components
of marketing mix. The report has explained the CBBE model for describing the strategy to build
a strong brand among customers. The report has explained the critical analysis of standardisation
and adaptation of marketing mix in the context of Dacia. It has also focused on concepts of
integrated communication mix and the performance evaluation methods. The analysis of CBBE
model acts as one of the most effective tools for framing marketing strategies. It guides
organisation to achieve maximum profits by using strategic marketing. Performance evaluation is
also considered as key factor to sustain the success. The report has analysed these factors. It has
provided the guidance to various tools and methods for strategic marketing.

TABLE OF CONTENTS
EXECUTIVE SUMMARY ............................................................................................................2
INTRODUCTION...........................................................................................................................1
Adaptation and standardisation of marketing mix..................................................................1
CBBE Model .........................................................................................................................3
Integrated communication mix and methods.........................................................................4
Measurement of success.........................................................................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Strategic marketing is an approach which capitalises the strength of an organisation so
that better quality services can be provided to customers along with competitive advantage. This
concept helps in raising the profit and productivity of organisation by differentiating it with its
competitors. The report aims at analysing various parameters of strategic marketing for
increasing success of the organisation (Hill, 2017). The report will explain the various aspects of
marketing mix whether it should be standardised or be adapted by Dacia in the Brazilian market.
The report will also describe how Dacia can use CBBE model for making its brand value
stronger. It will also focus on importance of integrated communication mix and its methods for
influencing majority of target audience. The report will describe the methods through which
Dacia can evaluate its success and the strategies which can help organisation for sustaining its
performance in future as well.
Adaptation and standardisation of marketing mix
Adaptation of marketing mix is considered as a strategy for international marketing
purposes in which all the aspects of marketing mix can be adjusted according to the current
requirements of the market place (Proctor, 2014). The actual purpose of adaptation is that it
involves a variety of factors that can help the DACIA company to achieve a larger share in
market. Standardisation in marketing mix refers to the fact of making use of the standard
marketing ways in every process. Whether it is about organising internal expansions or external,
standardisation refers to make use of the same marketing strategy.
For Dacia adaptation marketing mix strategy can be considered as more beneficial
because the standardisation of strategies cannot meet the expectations and requirement of
diversified groups from different locations. If organisation will standardise factors like prices
then probably it will fail to meet its sales target as different countries have different market
trends and competitive levels. Thus, organisation must follow price adaptation according to
following concepts:
Product adaptation: Dacia must provide product specifications according to the requirement of
the operational region. For instance the eastern countries may see the A/C as the sufficient
feature but in the countries like Brazil the climate controller is considered as more attention
gaining feature. Similarly, the major priority of Brazil market is the safety features so
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organisation can work on providing more features such as enhanced number of air bags to attract
the customers. Those, Dacia must adapt the product features according to the requirement.
Price adaptation: This is the most important factor in the adaptation strategies. The average
income and living standards of Brazil are very low as compare to that of Europe. So if Dacia will
keep same prices in Brazil and Europe then definitely customers will not be attracted. Further the
variations in the taxation policies are key factor in deciding operational cost so Dacia must
consider taxation and living standards of the customers before adapting prices.
Promotional strategies like standardisation and adaptation: Dacia will promote its product
in Brazil market through advertising online like using social media channels and print media.
Brazil has diversified culture where ethical values and racial beliefs are strictly followed. Dacia
must make suitable promotional strategies which can gain attention and can adapt of all the
target audience instead of limiting to only selected groups.
Place (distribution) adaptation: For making strong brand value in Brazil organisation will have
to adopt the different distribution strategies. The organisation may have to adapt to the
distribution network in Brazil, because there might be different legislation governing how goods
and services are sold in different conutries. For effectively operating in a region organisation
must adapt distribution channel according to the latest trend and logistic of the region.
CBBE Model
The customer-based brand equity model (CBBE) aims at developing a well-known and
successful brand which is based on requirements and expectations of the customers to increase
the probability of success. It focuses on increasing customer loyalty and to establish brand more
successfully as compare to the competitors. This model consists of following stages:
Brand Salience: When implementing CBBE model, in the first phase Dacia aims at creating
brand awareness among its target audience. Organisation must create its brand in a way that its
local as well as foreign clients can distinguish and prefer their brand over the competitive brand.
The organisation can classify brand awareness in two dimensions namely breadth and depth.
Brand salience in depth concept analyse that whether customers of Dacia can easily recognize
the brand of organisation or it takes time for them to recall the organisation. Dacia must conduct
researches to obtain a clear perspective about what are the expectations of customers form
organisation and how Dacia can meet those expectations in different segments of market. For
evaluating the brand awareness among customers Dacia must also focus on breadth of brand. It
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refers to the situations or purchasing range in which brand of organisation comes into mind of
customers. Thus, in this stage organisation make efforts so that public awareness can be created
among customers about brand (Tasci, 2018).
Brand imagery and performance: In this step Dacia addresses the meaning of its brand by
putting an emphasis on factors like imagery and performance. Dacia must assure that its products
and services are meeting quality standards, requirements and expectations of the customers,
durability as well as reliability. The cost and product design factors are also analysed to attract
more customers. Imagery analysis organisation evaluate that whether products are meeting needs
of customers or they require improvements. For instance, Dacia can address brand imagery by
introducing cars which are environment friendly or reduce heat emission.
Response of customers: For making a strong brand Dacia must consider the response of its
customers or the connectivity with its customers. Customers can show their response on the basis
of judgements or emotional connectivity. Customers always makes judgement of the product
based on quality, innovations, relevancy and its superiority over other competitive brands. The
trustworthiness of products and its popularity are also another judgemental factors considered by
the customers. So, organisation must highlight these factors during marketing of brand. To gain
attention of customers organisation can present various certification or awards received at global
level. The brand of Dacia is also responded on the basis of feeling that how customers feel about
it. Dacia brand can make its customers fill with feelings like social appraisal, confidence, fun and
excitement, self respect and thrill.
Consumer brand resonance: The organisation must ensure that customers can build a
relationship with the Dacia brand. This relationship will enable customers to readily identify and
trust the organisation. The consumer brand resonance involves the following steps:
 Organisation must create awareness among customers so that they can identify the brand
and have complete awareness about usage and scope of the brand.
 Dacia must promote campaigns so that brand is strongly established among customers.
 Brand resonance not only guides to establish brand but it also assures to analyse and
monitor that how strong brand is and what customers feel about the quality and service of
organisation.
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 The self evaluation and feedbacks from customers will help organisation to gain the
confidence of customers and to make them part of organisation. Such approach is
important for the success of organisation.
Integrated communication mix and methods
ICM refers to the integrated communication mix, which is considered as a way that helps
in managing every aspect of communication and its relationship with the others. It also involves
various promotional tools that can help DACIA company in achieving an increased rate of
productivity and popularity as well. Some well-known examples of different tools involved for
promotion includes online ways of marketing, indirect or direct marketing, advertisements etc.
Having discussed the concepts above the organisation might use the following: advertisement,
social marketing and sales promotion.
DACIA company can ensure to advertise about their products that are newly launched etc.
because by these means, customers will be able to know about it. It plays a very important role
while the launch of any new product or service because it makes involvement of a variety of
promotional tools that DACIA can involve, and more amount of people will be able to know
about it. There are different marketing communication methods that can act helpful in reaching
the target market and in achieving a higher rate of customer satisfaction. Therefore, various
communication methods that can be involved by the DACIA company are discussed as under:
Social media marketing
One of the effective ways that the DACIA company can involve for promotion of its
newly launched range of products and services, online way and tools for marketing can be
considered as an effective option (Banerjee, 2017). There can be various online ways and
methods involved by DACIA such as developing pages on social media websites, creating an
account or website of their own so that there they can easily promote their range of products and
services. Also, by means of search engine optimisation, DACIA can increase the popularity and
visibility of their social networking pages and website. It is because by means of search engine
optimisation, DACIA can paste the link of their website or pages on some popular websites or
sources so that when people visit them, they also refer to the pasted links. This can actually help
DACIA in an increased range of popularity and productivity.
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Sales promotion
By means of sales promotion, the DACIA company can ensure to make involvement of
various ways such as providing coupons, discounts and offers to their customers. This can be
considered as an effective way because this can actually make their customers happy. Therefore,
the DACIA company can offer some benefits to their customers such as trying of products for a
few times etc. that are newly launched (Chernev, 2018) BY these means, they can be able to
experience the product which will further encourage them to purchase the same. Therefore, this
can also be considered as an appropriate way of satisfying customers, thus achieving all the
market objectives.
Public Relations: It is defined as the exchange of information between organisation and public.
The organisation must ensure that its policies, product information and brand parameters are in
knowledge of public. The public relation enhances the brand recognition and awareness among
the customers. Organisation can improve its public relations by promoting social and cultural
events and by increasing its involvement in charity events.
As there are some benefits of involving the integrated communication mix methods in DACIA,
but at the same time, there are some challenges as well of using it. Evaluating both the strengths
and limitations are discussed as below :
 ICM methods can actually help DACIA company to gain a higher competitive advantage
in the market place but at the same time, in some cases or processes, there might be a
possibility that it may take a huge amount of time as well. Therefore, although it can help
DACIA to gain an efficient competitive advantage but can be time consuming for the
company, thus affecting the operations and processes.
 Although the various promotional tools involved in these methods can actually increase
the popularity and productivity of the DACIA company but it is very important to ensure
that there must be a control over usage of these promotional tools, otherwise the personal
information and data of the DACIA may be misused by any external body.
Measurement of success
After involving a variety of factors associated with the launch and promotion of products,
the DACIA company can make involvement of various ways that can help them to analyse the
rate of success and productivity achieved by them. Therefore, some ways that can help in making
a better analysis are discussed as under:
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Sales targets
The DACIA company can ensure to review their overall sales target that they have
achieved. For making a comparison, they can first set an expected target. Then after the
involvement of all factors such as for manufacturing, promotion etc., they can easily evaluate the
difference between the expected and achieved sales target. By this way, they can decide whether
there are still some modifications that are required to be involved. Therefore, by this way, the
DACIA company can evaluate and measure the success expected and achieved. A major strength
of this can be that DACIA will be able to have a record and estimate of the status but it can
consume a much amount of time and resources. Therefore, this can be considered as a limitation.
Profitability
When the DACIA company will compare their expected and achieved outcomes, they
can be able to analyse the overall profitability ratio. If the overall market share received is low,
then DACIA can ensure to involve some ways of promotions more effectively so that they can
satisfy the customer range (Kim, Shin and Min,2016). If they will be successful in attracting
customers, then the three are possibilities that the profitability rate will also increase and that too
at a huge extent. Therefore, this can also be considered as an effective way of evaluating the
success rate of different processes involves such as launching of products, its promotion etc. One
of its strength is that if the profitability rates will be high, it will help them to contribute in
various different measures of the company but if it will be low, then DACIA may have to
involve different strategies and techniques.
Returns on investment
Returns on investment (ROI) is considered as an effective measure that can help DACIA
to measure and evaluate their performance. It refers to the fact that if DACIA has involved some
specific cost on the investment of products, they will then analyse it with that of the benefits
achieved. If the overall rate of benefits achieved is higher than that of invested, then it can be
considered that the DACIA company has achieved a higher and successful returns on investment.
If in case, the company has not received higher return costs than that of invested, then they can
tend to make modifications and improvements to achieve higher returns, thus an increased rate of
productivity as well. A strengthening factor of ROI is that it can help DACIA to evaluate and
analyse their performance in the market place but a limitation of this can be considered as the
fact that a clear view of profits and loss are quite hard and time consuming to find.
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Balance scorecard
Balance scorecard (BSC) is considered as a strategic system of planning that can help
DACIA in evaluating the rate of success achieved. This Is also considered as a very powerful
tool of strategic management which involves a variety of measures that can help DACIA
company to evaluate their market position. On that basis, they can make changes and
modifications so that they can be able to satisfy the customers. The organisation can implement
following concepts of balance scorecard: Customer perspective: This is the most important strategy to be consider by organisation.
Dacia must regularly take feedback from its customers regarding the quality of services
and suggestions for improvement. The customer dissatisfaction can clearly degrade the
performance of organisation. Financial perspective: The Dacia must keep its financial records maintained and up to
date. It will not only help organisation to analyse its performance in better way but will
also avoid legal troubles related to financial transactions. The financial growth analysis
will clearly evaluate the performance of organisation. Internal process perspective: Dacia must ensure continuous monitoring of the internal
working and processing of the organisation. It will help organisation to minimize the
errors and to improve the quality of the performance. Learning and innovative perspective: The organisation must also focus on continuous
development of skills and innovations for sustaining its growth. The training sessions for
employees and adaptation to innovative ideas and technology can be a great measurement
of the growth.
CONCLUSION
From the report it can be concluded that strategic marketing must be carefully addressed
by the organisations for establishing brand value. The report has explained different stages and
concepts of customer-based brand equity model. It has also explained the implementation of
standardisation and adaptation of marketing mix concepts across global market. From the report
it can be concluded that before introducing new products and services organisation need to
consider the concept of integrated communication mix. It enhances the profitability of
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organisation. For evaluating the effectiveness of these marketing strategies, it is essential to
regularly monitor the performance and return of investment. Thus, it can be concluded that
strategic marketing is crucial component for organisational activities.
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REFERENCES
Books and Journals
Akgün, A.E., Keskin, H. and Ayar, H., 2014. Standardization and adaptation of international
marketing mix activities: A case study. Procedia-Social and Behavioral Sciences. 150.
pp.609-618.
Banerjee, S.B., 2017. Corporate environmentalism and the greening of strategic marketing:
Implications for marketing theory and practice. In Greener Marketing (pp. 16-40).
Routledge.
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Hill, T., 2017. Manufacturing strategy: the strategic management of the manufacturing function.
Macmillan International Higher Education.
Huang, J., 2015. A review of brand valuation method. Journal of service science and
management. 8(01). p.71.
Kim, N., Shin, S. and Min, S., 2016. Strategic marketing capability: Mobilizing technological
resources for new product advantage. Journal of Business Research. 69(12). pp.5644-
5652.
Kraus, S., Meier, F., and et.al. 2016. Standardisation vs. adaption: a conjoint experiment on the
influence of psychic, cultural and geographical distance on international marketing mix
decisions. European Journal of International Management.10(2). pp.127-156.
Proctor, T., 2014. Strategic marketing: an introduction. Routledge.
Tasci, A.D., 2018. Testing the cross-brand and cross-market validity of a consumer-based brand
equity (CBBE) model for destination brands. Tourism Management, 65, pp.143-159.
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