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Block 2, Sessions 13 & 14 - International marketing in a global…

- - - - the market’s size and growth rate
      - competition
      - costs of serving the market
      - market access
      - profit potential
    - - resources
      - product adaption
      - skills
      - competitive advantage
- - - - Brands have come to be considered organisations’ most valuable assets, reflected in the notion of ‘brand equity’ (or ‘accounting goodwill’) – ‘the monetary value of the psychological goodwill which the brand has created over time’ (Kapferer, 1997, p. 24).
      - Indicators of brand equity include brand recognition, spontaneous recall of the brand, being part of a buyer’s consideration set (the brands a buyer would consider purchasing) and brand consumption.
      - The power of brand equity is evident in the purchase of valuable brands by other organisations
    - - represents an external evaluation of a brand
      - ‘a collective representation of a brand’s past actions and results that describes the brand’s ability to deliver valued outcomes to multiple stakeholders’ (Harris, 2002).
      - built on its interactions with and evaluations by multiple stakeholders, not just consumers
    - - The formulation of a brand in terms of what it stands for from the perspective of the organisation that created it; brand image is the perception or interpretation of a brand from outside the organisation by, for example, consumers. Kapferer (2012, p. 151)
      - Possible for there to be a mismatch between the two, owing to noise in communication and other influences - orgs cannot control external factors, so best to focus on creating strong and coerent brand identity
      - Brand identity has been conceptualised by Kapferer (2012, pp. 158–162) as a prism having six facets.
        The vertical division through the prism signifies on the left, the visible facets (physique, relationship and reflection), which express the brand outwardly, and on the right, the facets internalised in the brand (personality, culture and self-image) which represent its spirit.
        A strong brand identity prism should be ‘concise, sharp and interesting’ (Kapferer, 2012, p. 164), having: few words, different words, strong words
    - - More simply: ‘What does the brand have to say when it is not talking about its products’ (Kapferer, 2012, p. 142). It is about making a meaningful connection with a brand’s consumers or audience
      - it is argued that brands need to provide content that will engage, help, inform or entertain people and that they will want to share (Kapferer, 2012). However, organisations need to tread a fine line between adding value to their offering through brand content and being perceived to exceed their remit.
      - The concept of ‘brand content’ has come about in response to the development of Web 2.0, which changed the way web pages are made and used, facilitating interaction, dialogue, creation and collaboration among users.
  - - - • coined – a name that uses a made-up word (for example, the insurance brand AXA)
      - • arbitrary – a name that uses an existing word that has no prior meaning associated with the company or product which it names (for example,. the online retailer Amazon)
      - • suggestive – a name that infers the nature or benefits of the product or company (for example, the bread brand Sunblest)
      - • descriptive – a name that describes the characteristics of a product or company so that what it offers can be understood without prior knowledge (for example, the London-based gutter cleaning company ‘Gutter Cleaning London’)
      - • generic – a name that is synonymous with the product category (for example, cellophane was deemed to be the generic name for ‘a sheet of transparent regenerated celluloid’ and could not be trademarked as a brand).