Marketing and Management Solution

The brand value chain model has several basic premises. Fundamentally, it assumes that the value of a brand ultimately resides with customers. Based on this insight.  The model has four stages that are... Stage 1: the brand value creation process begins when the firms invests in a marketing program targeting actual or potential customers. Stage 2: The associated marketing activity then affects the customer mindset-what customers know and feel about the brand.   Stage 3: The mindset, across a brand group of customers, produces the brands performances in the market places-how much and when customer purchase, the prices that they pay and so forth. Stage 4: Finally, the shareholder or investment community considers this market performance and others factors such as replacement cost and purchase price in acquisitions to arrive at the assessment of shareholder value in general and the value of the particular brand.  The model also assumes that a number of li

Brand value chain Brand value chain is a structured approach to assessing the sources and outcomes of a brand equity and the manner by which marketing activities create brand value. Generally to develop a brand, various activities are done in various stages. That means the particular activities cannot create a brand. So the chained activities in various stages of branding, called brand value chain. Above all we can say that the brand value chain is a structured approach to assessing the source & outcome of brand equity & the manner by which marketing activities create brand value.

Arguments against Free Trade: 1) Dependency: if increase free trade in worldwide one country will export and another country become very much dependent to the foreign countries. 2) Variety of Production: lack of production specialization and variety of production, a country has to produce according to specialization. 3) Materialism: import some unusual and luxury products and create materialism in the society. 4) Economic crisis: Economic crisis will increase when free trade is possible , a country’s economic crisis and social unrest can spread into other countries. 5)  Imbalance economic growth: For industrial and agro based economy, there is no chance to be an industrialized economy. It create the negative impact of economy. 6) Imperialism: there is a chance of country or territory occupied and controlled by foreign settlers. 7) Business gains: developed and large countries are always try to be benefited and keep competitive advantage than sma

Free Trade: Free trade is that which is free of various negative barrier of business not free of charge. It refers to the trade that is free from all artificial barriers to trade like tariffs, quantitative restrictions, exchange control etc. Economist Adam Smith was the blind supporter of free trade. Arguments for Free Trade: a) Increase total production:  Utilization of factors of production and product specialization b). Increase in consumption:  Marketers arrange various types of product from all over the world. c) Reduce monopoly: the condition of free trade is perfect competition, so it reduce monopoly.  d) Seller’s benefit:  Seller can sell their additional products at the highest possible price. e) Price balance:  Due to the intensive competition, producers cannot charge the unreasonable price. f) Customer’s benefit:  Consumer can collect their expected product at the lowest possible cost. g) Economic development:  Free trade impact on

Brand create favorable attitude of the customers. But to make it favorable there has some problem faces at the time of branding. There are three main problem of branding. These are as follows………… 1. Excess promotion cost: it is very much needed to inform final customer after establishing a brand or org. to make it satisfied, a firm has to take different of promotional activities or programs. This needs to more cost. So, high promotion cost is a notable problem of branding. 2. Quality servicing for long period of time: to face competition in the competed world and need to sustain, the brand loyalty a firm needs to maintain the quality of that brand for long period of time. Always not possible to perform, it is very difficult. So, maintenance of quality for long period of time is another problem of branding. 3. Consuming time and money: time and the money leads to success. Proper timing and proper allocation of money. Time and money is the main objective of bra

Brand Equity: Brand equity refers to the value of a brand name. It is a valuable asset of a brand in any organization. Because, customers are willing to find out and buy that brand among various competitors’ brand. Brand equity can be defined in many different ways. For a brand to be strong it must accomplish two things over time: retain current customers and attract new ones. To the extent a brand does these things well, it grows stronger versus competition, and delivers more profits to its owners. According to Staton and Walker, “brand equity is the value, a brand adds to a product. According to David Aaker, “A set of brand assets and liabilities linked to a brand, its name and symbol that add to or subtract from the value provided by a product or service to a firm and/or to that firm’s customers.” By combination of brand strength and brand value brand equity is formed. Brand strength is the set of association and behaviors that brand’s customers, channel

Organization: An organization is a deliberate arrangement of people to accomplish some specific purpose, goals e.g. hospital, profit or non-profit organization, hotels etc.  “An Organization is a system of consciously coordinated activities or efforts of two or more persons”.- Chester Barnard, Management Consultant. Organizations can be thought as “social entities that are goal directed, deliberately structured activity systems with a permeable boundary” according to Bedeian and Zamnuto. The basic characteristics of Organizations: ü   Division of labor: dividing up the many tasks of the organization into specialized jobs ü   Hierarchy of authority: Who manages whom? ü   Span of control: Who manages whom? ü   Line vs. staff positions ü   Decentralization

Brand Brand is one of the most important aspects of any business, large or small, retail or B2B. Brand is a symbol, a sign, a name, a specific theme, a design or the combination of all, which help to identify the products, goods or services and helps to differentiate them from a lot of competitors or identified one seller to another. According to Philip kotler & Gary Armstrong- brand is a name, term, sign, symbol or a design or a combination of these, that identifies the seller of a product or services. Basis on the definition we got some features those are-   Ø  Brand is a symbol, sign, theme, name of a product.   Ø  Brand develop positive attitude of three level of customers.   Ø  Brand helps to differentiate the product from competitors.   Ø  Consumer identifies the brand as an important part of the product. In above all we can say that, brand is the symbol or the remember able sign that represents a product or services. A brand reveals six t

Principles of business ethics The Principles of business ethics developed by well known authorities like Cantt, J. S.Mill, Herbert Spencer, Plato, Thomas Garret, Woodrad, Wilson etc are as follows 1. Sacredness of means and ends : The first and most important principles of business ethics emphasize that the means and techniques adopted to serve the business ends must be sacred and pure.It means that a good end cannot be attained with wrong means, even if it is beneficial to the society. 2. Not to do any evil: It is unethical to do a major evil to another or to oneself , whether this evil is a means or an end. 3. Equivalent price: According to  W. Wilson , the people are entitled to get goods equivalent to the value of money that he will pay. 4. Human dignity: As per this principle , man should not be treated as a factor of production and human dignity should be maintained. 5. Co-operation with others This principles states that business should help othe

Characteristics of business ethics:   Business ethics are ethics that refer to the moral rules and regulations governing the business world. The following are the important features of business ethics:- 1. It is considered both as a science and an art.   2. Business ethics are the principles, which govern and guide business people to perform business functions and in that sense business ethics is a discipline 3. It studies the activities, decisions and behavior which are related to human beings 4. It is based on theological principles such as sincerity, human welfare, service, good behavior etc.  5. It is based on reality and social customs prevailing in business environment. 6. It continuously test the rules and moral standards and is dynamic in nature 7. It has universal application because business exists all over the world 8. Many of the ethical principles develop the personal dignity 9. Business ethics keeps harmony between different roles

IMPORTANCE OF BUSINESS ETHICS There may be many reasons why business ethics might be regarded as an increasingly important area of study, whether as students interested in evaluating business activities, or as managers seeking to improve their decision-making skills.  It is generally viewed that good business ethics promote good business. 1. The power and influence of business in society is greater than ever before. Business ethics helps us to understand why this is happening, what its implications might be, and how we might address this situation. 2. Business ethics can help to improve ethical decision making by providing managers with the appropriate knowledge and tools that allow them to correctly identify, diagnose, analyse, and provide solutions to the ethical problems and dilemmas they are confronted with. 3. A business can prosper on the basis of good ethical standards and it helps to retain the business for long years.   4. The demands being placed on bus

Business ethics : Business ethics is the sum of common business activates or behavior which a business man doing in its business in ethically what is write and wrong. Business ethics is concerned with the behavior of a businessman in doing a business. Unethical practices are creating problems to businessman and business units. According to Wheeler , Business Ethics is an art and science for maintaining harmonious relationship with society, its various groups and institutions as well as reorganizing the moral responsibility for the rightness and wrongness of business conduct.  According to Rogene. A. Buchholz , ―Business ethics refers to right or wrong behaviour in business decisions . Business ethics is nothing but the application of ethics in business. Business ethics is the application of general ethical ideas to business behavior.

Values : The word value is derived from French word ‘valoir’ which means worth, merit, usefulness or importance of a thing. Values are traits or qualities that are considered valuable. They represent an individual‘s highest priorities and deeply held driving forces. A broad definition of values, derived from an insight into ancient India‘s psycho philosophical wisdom literature is ―Values are states of feelings/emotions that underpin the content of a choice/decision and determine the manner of using the intellect/reason for justifying and implementing that choice/decision. The study of values is fundamental in managing an organization‘s behavior.  Characteristics of Values: 1. Values represent an individual‘s highest priorities and deeply held driving forces  2. Values are the hub of personality and is powerful force affecting behavior  3. Value varies according to time  4. Many values are relatively constant and durable 5. It contains a judgment element

Culture   Culture is the man made part of the environment which provides a comprehensive frame work for understanding the way of life of a person, his beliefs, values, norms, behavior etc. Culture is one of those terms that are difficult to express clearly, but everyone knows it when they sense it. Our behavior is driven by three forces: 1. Human Nature: this is inherited and universally shared across all human cultures 2. Culture: Our collective programming which is learned, not inherited 3. Personality: Personality is the additional unique set of mental programme not shared with other human beings. It is partly inherited and partly learned. Kinds of Cultures 1. Strong Culture: in strong culture, the conceptual principles or values are translated very directly into people‘s day to day lives. For example, the military has a definite set of values and very strong culture. They are enforced through external rules and regulations as well as internal education.

Ethics Ethics is not recent phenomenon. Ethical codes have been prepared along with the development of human civilization. In olden days, people might have found some of their actions was wrong and others right. The question what is right and what is wrong gave birth to ethical and unethical codes. The word ethics is derived from the Greek word Ethikos‘ and Latin word Ethicus‘ mean custom or character. The concept of ethics deals with human beings. So it is a social science. Ethics is a branch of philosophy and is considered as normative science because it is concerned with norms of human beings. In the words of Peter.F.Drucker, ―Ethics deals with right actions of individuals. Ethics includes the following 1. Well based standards: Ethics refers to well based standards of right and wrong that prescribe what humans ought to do 2. Study and development of one‘s ethical standards: Ethics refers to the study and development of one‘s ethical standards.