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Role and Concepts of Branding Strategy in Virgin Group

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Added on  2019-12-03

Role and Concepts of Branding Strategy in Virgin Group

   Added on 2019-12-03

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ROLE AND CONCEPTS OF BRANDING STRATEGY INVIRGIN GROUPAPRIL 09, 2013
Role and Concepts of Branding Strategy in Virgin Group_1
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1CHAPTER – 1 AIMS, OBJECTIVES AND BACKGROUND TO THE STUDY..............................11.1 Background to the Study....................................................................................................11.2 Aim and Objectives............................................................................................................31.3 Research Question.............................................................................................................31.4 Structure of Report.............................................................................................................41.5 Framework and Analysis....................................................................................................51.6 Potential Significance of Research.....................................................................................6Chapter 2- Literature Review.......................................................................................................8Chapter 3 – Case Study..............................................................................................................9Chapter 4 – Research Methodology..........................................................................................10Chapter 5 - Discussion..............................................................................................................11Chapter 6 – Conclusion and Recommendation..........................................................................12REFERENCES..........................................................................................................................13
Role and Concepts of Branding Strategy in Virgin Group_2
EXECUTIVE SUMMARY1
Role and Concepts of Branding Strategy in Virgin Group_3
CHAPTER – 1 AIMS, OBJECTIVES AND BACKGROUND TO THE STUDY“Branding is a way to make an essential organization asset, which is an excellentreputation”1.1 Background to the Study A brand is much above a letterhead, snazzy logo and name of a product. It is theoverall experience of company as well as its products in the intellect of customer.Effectual brands share three characteristics, such as they create an emotionalconnection, they differentiate themselves adequately from the consumption and theyare consistent (Whitson, 2006). Branding supports the service or product to make a positive impact on the targetmarket, whereas the concepts of branding assist in outlining the guidelines, which mustbe followed during the process of branding (Drypen, 2008). The three most significantconcepts of branding is brand attributes, brand personality and brand promise. Thefeature, which defines the buyers experience like innovation, quality and customerservice is brand attributes. The commitment or promise that organization makes with itscustomers is brand promise. Finally, the personality of brand is characteristics ofbuyer’s experiences when they actually experience the brand. In a world where industryboundaries, markets and products are in flux, a well-organized brand can be a mainsource of competitive advantage and strategic direction for the company (Rivkin, 2013).The below given are branding roles that serve several purposes:Brand protects producer and customer from rivals who would try to supplyidentical products.Brand identifies the maker or seller.It highlights the differentiation bases.Brand lessens the dominance of price upon the buying decision.Brand provides the opportunity to seller to attract profitable and loyal set ofconsumers. Brand loyalty offers sellers some kind of security from competition1
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