Advertising Budget and Factors Affecting it
“Money does matter a lot.” Advertising Budget is the amount of money which can be or has to be spent on advertising of the product to promote it, reach the target consumers and make the sales chart go on the upper side and give reasonable profits to the company. Before finalizing the advertising budget of […]
Core Competencies – An essential for Organizational Success
What is Core Competency? Core competency is a unique skill or technology that creates distinct customer value. For instance, core competency of Federal express (Fed Ex) is logistics management. The organizational unique capabilities are mainly personified in the collective knowledge of people as well as the organizational system that influences the way the employees interact. […]
Strategies for Longer Term Transformation of Print Media and Short Term Viability
Why the Future of Print Media is good There are many experts who have been claiming that the age of newspapers is over and hence, the future of media is digital. However, if statistics are anything to go by, print media are still relevant and their bottom lines are healthy in Asian countries. However, the […]
eCommerce Industry in India
Indian eCommerce Party Continues Anyone who opens the newspaper or browses the internet these days cannot but escape the full page ads and the scrolling content offering mega discounts and other freebies on online shopping sites. Indeed, the worldwide rush to eCommerce is now catching up in India as well as can be seen from […]
Organizations and Relationship Marketing
Traditionally with Organizations the customers belonged to and were the responsibility of the Marketing Department alone. Organizations probably had too many constraints on meeting the demands and were saddled with limited product range that did not require them to look out and reach out to the Customer. However with evolution of technology, mass production processes […]
As the business environment is changing, the profile of the organizations as well as the way of conducting business is changing too. Use of technology and globalization has changed everything about business. Marketing is no longer what it used to be.
Online marketing has changed the face of conventional marketing and both are incomparable by any standards.
When we look at the job profile of brand managers, we find that over the past few years, there have been several changes.
Today’s brand managers are not only planning product promotion and marketing services, but work as business managers responsible for the brand. They are in fact responsible for the sales, growth as well as the profits of the brand in Multinational companies.
A strong brand may have a team of brand managers working on the brand across several geographic locations and countries. With the global brands being present in various markets, there arises the need for local factors and sensibilities to be built into the brand and into the brand management as well. Therefore it makes it imperative to build a brand management team or structure that can work through micro and macro levels.
Take a look at the shelf in the super market when you visit next time and you will be surprised to see that each of the leading brands be it in the medical section, soft drink or grocery item, there are likely to be multiple variations of the same brand with little difference. Of course we are talking about the brand extensions that have become the latest strategy adopted by brand managers to exploit the brand value.
Coke is perhaps the best and the most common example where you get to see variations of coke in the shelf today. Brand extensions have become the norm of the day. The question that one needs to ask is whether such brand extensions are really required and worthwhile?.
In the market place, where competition is very high and intense amongst brands, the brand managers are always under pressure on multiple fronts.
Brand extensions are also considered to be the most natural progression for brands. When organizations spent a lot of investments into manufacturing and technology for launching the parent brand, they would not like to leave out any opportunity to capitalize on the capacity that they have created and maximize returns on investment.
The next logical question that one asks is whether such brand extensions are useful and beneficial for the brand. What is the effect of brand extensions on the parent brand?. It is difficult to predict what the exact result would be for, the results in the case of such brand extensions have been mixed in the market.
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