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1. Explain Brand Equity
Brand equity is the value of a company or brand’s name (brand loyalty, perceived quality,
and awareness). The brand equity concept can be rooted in the product importance. Whilst a
brand simply is generally a symbol or a name used to identify a product, and it can have high
significance level if it is well managed. Strong brands add significant values to products which
are associated in the consumer’s mind, provided that they make a positive association to the
brand. Example, the McDonald’s brand can be associated with consistent standard involving fast
foods, which are safely prepared and served fast at a price which is reasonable.
A brand enables a firm to generate value as it can always command price premium over a
comparable generic products. Example is that a consumer is willing to pay more for a product
which he or she believes will serve his purpose well. A strong brand can also be extended to
related or unrelated items, giving such products a sale boost. This allows substantial
advertisement costs and also promoting a brand to be a lot cheaper by spreading them over many
products (Aaker, David & Alexander Biel, 2013).
2. Explain Brand Salience
Brand silence is referred to the degree to which a particular brand is noticed or thought
about when a customer is in a buying situation. Strong brands possess high brand silence and
weak brands may possess little brand silence or even none. This to some degree helps in
explaining why big brands are big and small brands are small.
Silence is about the number of consumers which regard the brand well. The real
difference occurs in what is seen as margin. Competitive brands differ in emotional features and
which link with the particular target segment desires. Real differentiation comes when trying to
understand that brand’s true silence and value lives inside a consumer mind and which helps
them in identifying a product which will give them a specific set of benefits. Brand silence
depends on the quality and the quantity of engagement with a particular brand. The more the
memory structure the brand is linked to, the more the brand will be salient that is, the more likely
it will be thought of in any buying situation. Example is, people will think of McDonalds when
they think about getting a fast food (Jraisat, Luai & et al, 2015).
3. Explain Defensive Marketing
Marketing is typically identified as a growth tool. A firm can successfully use it in
launching a new product, enter new markets, and gain an existing product share in its current
market. In almost all industries, one particular company stands out as a leader, possessing the
highest sales and the largest customer base. Whether they sale personal computers, humbuggers,
soap dishes, their position of leading the market can always be under constant threat.
New products and businesses constantly keeps arising challenging the reigning leader and
offering some alternatives; low price, better qualities and unique features to the product which is
dominating the industry currently. Which tactics are the best for the leader while responding to
There are always defensive marketing strategies and which the leader applies in
protection of its market share, product positioning, profitability, and mind share against the
emerging competitors. If not well implemented, some customers will migrate from the
established firm to the competitor, who can even displace the leading market business and rise to
the top. In defensive marketing strategy, how a business should react to competitive brand launch
should depend on the competition level and competitor innovativeness (Yannopoulos & Peter,
4. Explain Marketing-Niche Strategies
A marketing approach with products with appealing features to a particular group or sub
group in the market. Typical products which are marketed by niche strategy can easily be
distinguished from the other products and it can be produced and sold for specialized
applications within the corresponding market niche.
Niches do not exist but created through identification of wants, needs, and requirements
being poorly addressed or not at all by other businesses and developing and delivering goods and
services in their satisfaction. Niche marketing is being applied by many kinds of companies in
their overall market campaigns. It is a useful strategy for younger businesses which have limited
budgets and products or services being targeted towards a particular population segment.
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