TAILIEUCHUNG - Marketing management Chapter 9

CHAPTER 9 CREATING BRAND EQUITY. Building a strong brand requires careful planning and a great deal o f l o n g - t e r m investment. A t t h e heart o f a successful b r a n d is a great p r o d u c t or service, backed by creatively designed and executed marketing. One o f t h e hottest brands around is G o o g l e | PART BUILDING STRONG BRANDS IN THIS CHAPTER WE WILL ADDRESS THE FOLLOWING QUESTIONS What is a brand and how does branding work What is brand equity How is brand equity built measured and managed What are the important decisions in developing a branding strategy CHAPTER 9 CREATING BRAND EQUITY Building a strong brand requires careful planning and a great deal of long-term investment. At the heart of a successful brand is a great product or service backed by creatively designed and executed marketing. One of the hottest brands around is Google ounded in 1993 by two Stanford University students search engine Googie s name is a piay on the word googol the number represented by a 1 followed by WO zeroes a reference to the huge amount of data online With 200 million search requests daily the company has turned a profit by focusing on searches alone and not adding other services as was the case with many other portals Sy focusing on plain text avoiding ads and using sophisticated search algorithms Google provides fast and reliable service Google makes money from paid listings relevant to a searcher s query and by licensing its technology to firms such as AOL and the Washington Post in perhaps the ultimate sign of success the brand rs now often used as a verb to google is to search online. Based on a public poll of the brand that had made the most impact in their lives Google was named brand of the Year in 2002 by Interbrand branding consultants. This success has not gone unnoticed however and has fed to strong competitive responses from industry giants Yahoo and Googfe fcxjiitlas Larry Pags ami Sergey Brin. 273 27 4 PART 4 BUILDING STRONG BRANDS Perhaps the mast distinctive skill of professional marketers is their ability to create maintain enhance and protect brands. Branding has become a marketing priority. Successful brands such as Starbucks Sony and Nike command a price premium and elicit much loyalty. New brands such as Krispy Kremer Red Bull and .

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