23 Jan Branding strategies are changing due to the popularity of the Internet and changing consumer behavior. There are various fun
Module 1 Discussion
Branding strategies are changing due to the popularity of the Internet and changing consumer behavior. There are various functions of branding. Branding is not only utilized to differentiate the focal brand from the competing ones, but also to increase brand/product awareness, change consumer attitudes, and encourage purchases. On the other hand, consumer brand experience and online consumer reviews are increasingly influencing branding strategies in the digital age.
Read the following articles:
Edelman, D. C. (2010). Branding in the digital age: You’re spending your money in all the wrong places. Harvard Business Review, December, retrieved from https://hbr.org/2010/12/branding-in-the-digital-age-youre-spending-your-money-in-all-the-wrong-places
Anderson, M. (2014, July 7). 88% of consumers trust online reviews as much as personal recommendation. Retrieved from http://searchengineland.com/88-consumers-trust-online-reviews-much-personal-recommendations-195803
Please address the following issues regarding online consumer reviews and brand management in the digital age.
- Evaluate the pros and cons of online consumer reviews from the consumer’s perspective.
- Discuss the use of online consumer reviews from the brand manager’s perspective.
Note: Please check the Discussion grading rubrics to better understand the requirements for Discussions.
APA Citation and Format
1-2 Page
Rubric Assessment
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Rubric Name: MBA/MSHRM/MSL Discussion Grading Rubric – Timeliness v1
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STP, PRODUCT MANAGEMENT & SITUATION ANALYSIS
The reading list for this first module is quite extensive. However, many of these items will also serve as references for Modules 2-4.
How to conduct a marketing audit (n.d.). MarketingTeacher.com. Retrieved from http://www.marketingteacher.com/marketing-audit/
Introduction to financial statements for marketing (n.d.). MarketingTeacher.com. Retrieved from http://www.marketingteacher.com/marketing-and-finance/
Marks, R. E. (1997). Market structure and competition (October 9). Retrieved from http://www.agsm.edu.au/bobm/teaching/ECL/lect03.pdf
Marketing Research (n.d.). MarketingTeacher. Retrieved from http://www.marketingteacher.com/introduction-to-marketing-research/
These Web pages explain concepts of the Segmenting, Targeting, and Positioning.
Building Customer Relationships. (2014). Pearson Learning Solutions, New York, NY. Retrieved from http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=11770
Building Customer Relationships (Audio). (2014). Pearson Learning Solutions, New York, NY. Retrieved from http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=11448
Segmentation (n.d.). MarketingTeacher. Retrieved from http://www.marketingteacher.com/segmentation/
Targeting (n.d.). MarketingTeacher. Retrieved from http://www.marketingteacher.com/targeting/
Positioning (n.d.). MarketingTeacher. Retrieved from http://www.entrepreneur.com/encyclopedia/positioning
Perner, L. (n.d.). Segmentation, targeting, and positioning. Consumer Psychologist. Retrieved from http://www.consumerpsychologist.com/cb_Segmentation.html
Here are some useful links on market segments:
Nielsen. (n.d.). MyBestSegments ZIP code look-up. Retrieved from https://segmentationsolutions.nielsen.com/mybestsegments/Default.jsp?ID=20&menuOption=ziplookup&pageName=ZIP%2BCode%2BLookup
Nielsen. (n.d.). Nielsen PRIZM – Understanding social and lifestage groups. Retrieved from http://www.claritas.com/MyBestSegments/tutorials/Nielsen_PRIZM/engage.html
Nielsen. (n.d.). Segment Details. Retrieved from https://segmentationsolutions.nielsen.com/mybestsegments/Default.jsp?ID=30&menuOption=segmentdetails&pageName=Segment%Details
TETRAD. (n.d.). Demographics. Retrieved from http://www.tetrad.com/category/demographics/
This article explains considerations internal to the firm that affect its financial health:
Porter, M. (1980). Generic strategies. Retrieved from http://www.marketingteacher.com/generic-strategies/
These Web pages explain the forces external to the firm that affect the financial health of a product or company:
PEST Analysis (n.d.). MarketingTeacher. Retrieved from http://www.marketingteacher.com/pest-analysis/
Managing External Forces (n.d.). Marketing Tutorials. KnowThis. Retrieved from http://www.knowthis.com/principles-of-marketing-tutorials/managing-external-forces/
The following readings relate to product management strategy:
Products and Services. (2014). Pearson Learning Solutions, New York, NY. Retrieved from http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=12052
Products and Services (Audio). (2014). Pearson Learning Solutions, New York, NY. Retrieved from http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=11699
Product decisions (n.d.). KnowThis. Retrieved from http://www.knowthis.com/principles-of-marketing-tutorials/product-decisions/
This series of Web pages explains that product decisions over which firms have control are forces that determine the financial health of a product or company:
Product strategies (n.d.). LearnMarketing. Retrieved from http://www.learnmarketing.net/product.htm
The following articles explain and illustrate branding:
Aisner, J. E. (1999) More than a name: The role of brands in people’s lives. Working Knowledge for Business Leaders Series. Boston, MA: Harvard Business School. Retrieved from http://hbswk.hbs.edu/archive/2598.html
Beyersdorfer, D., et al. (2011 January/February). Preserve the luxury or extend the brand? Harvard Business Review. 89:1/2(January/February):173-7.
Christ, P. (2009). Understanding the importance of branding (October 28). Retrieved from http://www.knowthis.com/insights/marketing-professionals/trends-developments/1559-understanding-the-importance-of-branding
Clark, D. (2011 March) Reinventing your personal brand. Harvard Business Review. 89:5 (March):78-81.
Edelman, D. C. (2010). Branding in the digital age. Harvard Business Review. 88:12 (December):62-69.
Introduction to brands (n.d.). Marketing Teacher. Retrieved from http://www.marketingteacher.com/introduction-to-brands/
Klein, K. E. (2008). A practical guide to branding. Bloomberg Businessweek (June 9).
Tauber, E. W. (1981). Four branding alternatives: A branding strategy based upon brand extension. Marketing Teacher. Retrieved from http://www.marketingteacher.com/four-banding-alternatives/
Zax, D. (2010). For Millennials, brands may be as important as religion, ethnicity. Co-Create(November 17). Retrieved from http://www.fastcocreate.com/1679028/for-millennials-brands-may-be-as-important-as-religion-ethnicity
The following article explains brand personality:
Fournier, S. (1998). Consumers and their brands: Developing relationship theory in consumer research. Journal of Consumer Research. 24:4(March):343-372.
These articles address the question of celebrity endorsements:
A Teakettle with Star Power? The Upsides and Pitfalls of Celebrity Brands (2011).[email protected] (April 27). Retrieved from http://knowledge.wharton.upenn.edu/article.cfm?articleid=2761
Star Blight: The Perils of Celebrity Endorsements (2006). [email protected] (September 6).Retrieved from http://knowledge.wharton.upenn.edu/article.cfm?articleid=1552
Stone, M. (2012). How Retailers' Love Affair With Celebrities Will Blossom In 2012. Forbes (January 4).
Check the professional market research reports from IBISWorld database to find the industry analysis for your cumulative Session Long Project.
IBISWorld Overview (n.d.). IBISWorld, Inc., New York, NY.
IBISWorld Forecast (n.d.). IBISWorld, Inc., New York, NY.
IBISWorld Data and Sources (n.d.). IBISWorld, Inc., New York, NY.
IBISWorld Navigation Tips (n.d.). IBISWorld, Inc., New York, NY.
Check the following links for proper APA citation and reference format:
Purdue University Online Writing Lab. (n.d.). In-text citations: The basics. Retrieved from http://owl.english.purdue.edu/owl/resource/560/02/.
Cornell University Library. (n.d.). APA citation style. Retrieved from http://www.library.cornell.edu/resrch/citmanage/apa
Golden Gate University. (n.d.). University library: Research help. Retrieved from http://www.ggu.edu/libraries/university-library/research-help#citation-guide
University of Illinois at Urbana-Champaign. (n.d.). The center for writing studies. Retrieved from http://www.cws.illinois.edu/workshop/writers/citation/apa/intextcitation/
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