Brand Equity and Marketing

Paper Summary:

In this article, the writer notes that an effective brand strategy depends upon three components: customer relationship management, multi-channel customer management and multi-channel shopping. The writer discusses that in formulating an effective brand strategy, the management must ensure that the three components are being addressed. The writer also discusses that the strategies developed for customer relationship management, multi-channel customer management and multi-channel shopping must be integrated and this objective is met through integrated marketing communications. The writer concludes that because the different departments in an organization coordinate their marketing efforts, the duplication of efforts is eliminated and this strengthens the entire marketing program for developing strong brand equity.


Outline:
Abstract
Introduction
Literature Review
Conclusion
References

From the Paper:

"The current business environment is characterized by a considerable level of competitive rivalry and as a result businesses have to constantly reengineer their internal operations in order to build and maintain a competitive advantage. In this respect, a business organization has three strategies at its disposal: differentiation, cost minimization and focus. However the effectiveness of these strategies depends on effective communications between the internal stakeholders and the external stakeholders. The internal stakeholders refer to the employees and the top management while the external stakeholders are the channel members such as the customers, the distribution intermediaries and the suppliers. The top management in a business organization has to coordinate between the different stakeholder groups in order to maximize operational efficiency. This is particularly relevant in the case of international business which is characterized by differing customer tastes and preferences across political boundaries. As a result, integrated marketing communications are the critical success factors in building and maintaining a competitive advantage."

Sample of Sources Used:

• Calder, B. J. and Tybout , A. M. (1987), "What consumer research is ....", Journal of Consumer Research, Vol. 14, June, pp. 136-40.
• Chanaron, Jean-Jacques & Dominique Jolly 1999, 'Technological management: expanding the perspective of management of technology ', Management Decision, 37, pp 23-43.
• Chandra, Mahesh 1993, 'Total quality management in management development', Journal of management development, 12, pp 12-15.
• Cummings W. H. and Venkatesan, M. (1976), "Cognitive dissonance and consumer behaviour; a review of the evidence', Journal of Marketing Research, Vol.. 13, August, pp. 303-8.
• Fournier, S. and Yao J. L. (1997), "Reviving brand loyalty: a reconceptualization within the framework of consumer-brand relationships", International Journal of Research in Marketing, Vol. 14 No. 5, pp. 451-72.

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