Adding value through marketing:the cases of LOreal and P&G - Essay Example

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Adding value through marketing:the cases of LOreal and P&G

What is a brand? Is it, as the American Marketing Association describes it as mere “a name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition” (VanAuken, 2004, p.14)? The best informal definition, however, of a brand perhaps could be that it is a real estate - that a firm, a product or a service, buys in the minds of its customer. This is not bought overnight, but earned over the years by persistent and consistent efforts through such measures as creating awareness, increasing the perceived quality, creating strong brand associations, developing strong channel relationships, trademark and even patterns (Kotler et al., 2009). It is a source of promise to the consumer – to deliver relevant differentiated benefits. Therefore, everything a company does towards brand building should be focused on enhancing value against the promise its brands make (VanAuken, 2004). “Ultimately, everything – products, services, retail environment, corporate culture, frontline employees, marketing, and so on – must come together to create the total brand experience (VanAuken, 2004, p.187).Winning brands do this very well, not only their products are extraordinarily different than their competitors, but everything else add up to their superb brand experience. The subsequent paragraphs delineate cases of two such winning brands L’Oreal and P& G, to evaluate how these winning brands manage to create high street awareness, ...
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What is a brand? Is it, as the American Marketing Association describes it as mere “a name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition”…
Author : isabellwalker

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