What do “Module Seven” has in for us?
This module will discuss the importance of a company’s brand and the ethical issues involved in marketing. The creation and maintenance of a strong brand is a major challenge for marketers. Internal and external activities and opinions can shape how consumers perceive a brand and, consequently, can influence sales
How can you be successful this week?
Simple! Read/watch all the links to the resources (articles, website, videos, etc.) posted for this module. Don’t forget to click on the Module Overview Link and read it. Then complete the following activities:
For each activity you have to complete, make sure that you first review the Rubric that I will use to grade it. In this way, you will be able to hit each requirement, and your road to success will be guaranteed.
Start by reading and reviewing the articles posted, and then answer the question(s) posted in the Discussion Forum.
For your initial post (1) you must:
My advice: Posting on Mondays or Tuesdays allows you to complete your work on time. It also allows you to be a leader in the discussion and participate enough to get all the points allotted.
A late posting on Saturdays or Sundays reflects a rushed work, and as a result, your grade will not be the best. You will also miss the opportunity to engage with your peers and me.
Final Project Part II: Product Marketing Recommendations
I will post a separate announcement with specific instructions for this assignment.
Attached is the slide that I have mentioned in my previous message. You don’t have to use this exact model, you can re-create your own, however, this is the easiest way to indicate how the company transmits its messages strategies.
The columns on the ends should contain the wants and need of the target market, not those of your company, and the one in the middle should contain information of the different ways/actions in which the company will meet those wants and needs.
Wants & Needs slide.pptx (68.37 KB)
Please watch the following video (a very brief one) that will walk you through what you need to do to submit a successful PowerPoint Presentation.
Please remember that you do not have to start from scratch, you have done all the work already, it is a matter of putting all together!
Direct Link: https://www.youtube.com/watch?v=HwzdamxsZR4&feature=youtu.be&hd=
PowerPoint Slides Guide:
Also, when working on the “Translating Wants & Needs into Messaging.” Slide, I highly recommend you to use the graphic shown below. This example is from a different company. If you realize, in the blue and green squares, the CONSUMER’S WANTS AND NEEDS are stated. The squares in the middle quote the marketing and messaging strategies that the company will use to meet the wants and needs established. The arrows should connect with each other.
I WILL EMAIL EACH OF YOU THIS SLIDE WITH THE CHART INCLUDED SO THAT YOU CAN USE AT YOUR CONVENIENCE.
Also, it is important that you follow the instructions and use the section comments on the slides to expand on your explanations of each slide. ( this is a requirement, look at the slide example that I have emailed you. )
If you have any question, please contact me asap!
Module Seven: Social Responsibility and Brand
Upon completion of the course, students will be able to:
Module Reading and Resources
Textbook: Marketing: An Introduction, Chapter 16
This chapter provides an overview of the use of socially responsible marketing by companies.
Chapter 7 (pp. 221–231 only)
This highlights the importance of branding to a company.
Access this resource by going to the MyMarketingLab area under the course Table of Contents menu.
Presentation: Marketing Concept Glossary VII
Module-related marketing concepts and terms are presented. Visit the glossary for a quick review of the key terms from this week. You can also look up words in the glossary found along the left-hand navigation bar.
Video: Brand Identification and Meaning
The video provides an overview of branding and gives students an opportunity to match company names with two key elements of their brands: taglines and logos. Transcript available here.
Assignment Calendar Module Seven
This module addresses how a company creates and promotes its brand. A company’s brand is its heart. The Oxford English Dictionary defines brand as “burning.” The etymology of the word is important. The American Marketing Association (AMA) provides a broader, more current definition—it defines brand as a “name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers” (AMA, 2014). If the two definitions are combined, it could be interpreted that branding is to burn the name, design, or symbol of a company into the minds and hearts of its customer base. When companies are successful in this activity, they are able to build loyalty. When people think about brand, the most common thing that comes to mind is a company such as Nike or a product like Air Jordan. Brand, however, can be expanded to include people (e.g., Michael Jordan), places (e.g., the state of New Hampshire), and ideas (e.g., universal preschool). The significance of branding is further highlighted in 30 Branding Definitions.
The key objective for a marketer is to effectively communicate a brand (whether it is a person, place, or thing) to customers and targets. Marketers need to consider more than selling products in the development of messaging and media strategies. They also need to recognize the impact of the messaging and media strategies themselves on the company brand. Increasingly, consumers look at company practices with a more critical eye. Terms such as “ethics” and phrases such as “social responsibility” are becoming more prevalent. Sometimes ethical practice is simply being transparent about where something is made, promptly initiating a recall, or posting an announcement on a website or in a letter to customers. Given how fast information spreads, one of a marketer’s jobs is to be proactive, that is, be prepared when a quick response is needed.
Once a brand is established, it becomes a marketer’s job to maintain, grow, and nurture it. This is one of the situations where public relations (PR) come into play in marketing. This is especially important when a company faces a crisis. As an example, the BP oil spill in the Gulf of Mexico in 2010 required extensive efforts by the company to address the multitude of public concerns. PR and marketing need to partner to ensure that an effective, unified, and consistent message is portrayed, whether it is in a speech from the president of the company or in a TV ad.
In the video Brand Identification and Meaning, a number of companies and some of their brand elements, including logos and taglines, are presented. These are two very important elements for a company, especially for new companies or companies seeking to expand their market share. The effectiveness of branding has a critical impact on business success.
Now, take a minute to review this week’s glossary.
Brand. (n.d.). In Common Language in Marketing. Retrieved from http://www.marketing-dictionary.org/
Brand [Def. I1]. (2015). In Oxford English Dictionary. Retrieved from http://www.oed.com/view/Entry/22627?rskey=aEQ9Qv&result=1&isAdvanced=false#eid
Complete the assignment as follows:
Choose one of your favorite brands. In your initial discussion post, explain what about the brand makes it compelling to you. How does the company use marketing to communicate the brand? Identify at least one way that the company could improve its brand communications. What should the company consider to avoid unethical marketing? How could unethical marketing affect its brand?
In your responses to classmates, compare the brand that you chose with the brands that your classmates chose. How are they similar? Could the marketing professionals for the person, place, or thing learn from one another’s strategies or issues with brand identity?
For more information, view the following documents:
For your response posts (2), you must do the following:
classmates Post #1:
I chose New Balance as my brand. I first heard about New Balnace through word of mouth and I became a fan when I discovered they were primarily manufactured in the United States. This was back in the late 80’s/early 90’s. I was in the military, stationed in New Hampshire and New Balance is headquartered in Boston so they were and are still popular in New England. One of the things I continue to like about New Balance is that while more of their shoes are manufactured in Asia, they still maintain a manufacturing presence in the United States producing about 4 million pair a year in the U.S. and they also maintain a presence in England for certain models marketed in Europe. New Balance markets primarily in a digital format in the U.S. but does use television advertising in other parts of the world. I follow their page on Facebook and as a result of that plus internet searches for shoes, I see plenty of targeted ad boxes for New Balance on different web sites.
New Balance has had their share of controversy in the last 10 years although I can’t find any evidence of anything unethical. I’m sure that if unethical tactics were used, it would hurt the company badly as their revenue is less than half of their leading competition. The company was sued in 2011 over the marketing of Toning Shoes, those sneakers with the rounded soles that claimed to give you better results just from wearing that type of shoe. More recently they came out against the Trans Pacific Partnership, a trade deal during President Obama’s second term and at least some of the company leaders supported President Trump’s campaign. While receiving some backlash from both, they seemed to survive and their revenue is growing by some accounts up to 10% while some of their competitors experience a decline in revenue. New Balance set a goal to become one of the top 3 brands in the Athletic Wear market by 2020.
classmates Post #2:
The brand that I choose to analyze in this section is Stitch Fix. I recently started using this company and love it for many reasons. The brand has a large advertising campaign on social media, which is where I originally found out about the brand. Upon reading into their business model I was instantly intrigued. The idea of having a professional stylist send you clothes, being able to try them on, and being given the ability to send back the clothes you don’t want for free had me instantly hooked. While there is a styling fee of $25.00, if you buy anything it comes off the total purchase. Another great incentive that they offer is that if you buy everything you get a percentage off your entire purchase.
I think that one way that the company could improve its communication is by sending out an email of the clothes that are coming your way before hand that way if there is something that you know you will absolutely now wear they could switch it out before hand.
I think that stitch fix should use a wider demographic in their advertisements. I feel like they always use the same “type” of girl and I would like to see their outfits on a wider variety of shapes and sizes. I think that by them only showing clothes on “smaller” young models it draws some people away because they don’t think that their clothes would look good on their body type.
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