Textbook: Strategic Brand Management Author: Kevin Lane Keller, 4th Edition Chapter 14, Page 512 FIGURE 14-5 Self-Evaluation Ratings for the 10 Commandments of Global Branding Figure 14-5 lists the “Ten Commandments of Global Branding” along with a series of questions that can be asked to help guide effective global brand management. Running head: LOYAL CUSTOMER WORKSHEET Loyal Customer Worksheet Week 1 1. Complete the following chart in 90- to 175- words: 1 LOYAL CUSTOMER WORKSHEET Apple. Brand Apple brand has been chosen because of its popularity across the globe. From history, Apple Inc. has been on the electronics market, and it is known for its manufacturing of quality products including Why was this brand selected? iPhone, Siri products, and laptops, among other products (Apple Inc., 2017). Also, the brand’s position has been evolving for years and its consistency is seen even today. The evolution of the brand emanates from the Apple Inc.’s culture of working hard to innovate. The company has used innovation as a strategy to build, improve, and keep the level of the brand. The proper design of the brand to meet customer requirements makes it popular and, of course, liked by the firm’s customers and admired by many other people. 2. Identify the four components of brand position: 2 LOYAL CUSTOMER WORKSHEET 1 The target customer: the main audience who utilize a firm’s product. 2 Brand essence: The brand’s “soul and heart” 3 Brand personality: Description given to the brand by use of adjectives 4 Brand promise: Assurance of various benefits of the brand that are relevant. 3. Analyze the brand position in its niche/market as it relates to the four components of brand position in 90- to 175- words. 3 LOYAL CUSTOMER WORKSHEET 4 Apple is one among the best brands in the world, and this is what makes Apple Inc. a successful company in the electronics market. Teenagers, university and college students, business people, kids, and adults are target customers for Apple’s products. Apple brand personality is very strong because the brand utilizes and concentrates on emotions; it begins with how the company’s products make its customers feel. This means that the strength of the brand’s personality is defined by way of life, innovation, passion, imagination, desires, and dreams and hopes as well as power-to-the general public through knowhow. Innovation is the brand’s “heart and soul.” It is what makes it unique and sets it apart from other competitors like Samsung and Amazon on the electronics market. Innovation also enhances Apple’s assurance of the benefits its products give to the customers based on their needs. So, Apple brand promise is nearly 100 percent, and this is why Apple products are trusted by customers throughout the entire globe. 4. Evaluate brand equity in 90- to 175- words. Other than being intimate about Apple’s products, customers love the brand, and there exists a community of consumers of the company’s main products. Apple brand’s equity is tremendously strong. Apple Inc. uses price-premium that it sustains in many of its product extents. The strong preference in products the firm has puts it in a top position in the electronics market hence attracting more revenues than its competitors. In the recent past, Apple Inc. has improved its cost in manufacturing its products while keeping the level of the strong equity of the brand. 5. Identify current challenges and opportunities for the brand: LOYAL CUSTOMER WORKSHEET Challenges 5 Opportunities Additional increase in production expenses Products are diversified The intensifying competition from other areas Investing in research areas as well as like India and China. developmental projects Damage in reputation because of tax scandal. Increased focus on service business sector Incompatibility of Apple products with other Increasing compatibility of products services and products. 6. Explain in 90- to 175- words what strategies you propose for the brand based on the identified challenges and opportunities. Apple Inc. should increase the use of “green” energy such as solar energy to reduce energy costs. The company should design and manufacture some products that are compatible with other devices on the market to increase customer flow. In increasing revenues through the production of competitive compatible products, Apple Inc. should form strong partnerships with other firms. Partnerships are also sources of research and innovation. The firm should restructure its management to curb the issue of tax and other financial forms of fraud. The company should also diversify its business by extending it to service business to increase revenue generation. 7. Based on the readings, what is the difference between a product and a brand? Compare the two in no more than 175- words. LOYAL CUSTOMER WORKSHEET 6 Product Brand A thing made in a plant A thing that a customer buys A competitor can imitate it A competitor cannot imitate it; it is unique. Can be out of date quickly Successful brand does not expire. It performs a specific role like printing It adds value or boosts consumer’s (printer), writing (pen) psychological perception. It is a customer’s need. It is a customer’s want It is easily replaced. It is irreplaceable It is tangible It is hard to touch and see References Apple Inc. . (2018, January 18). About Apple. Retrieved from www.apple.com: https://www.apple.com
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