Marketing effectivness in the company

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National Research University – Higher School of Economics  
Faculty of Management 
Department of Marketing of the firm

 

 

 

 

PROJECT PROPOSAL

                    The effectiveness of company marketing (in short-term period) 

 

 

 

Kondakov Nikita 
Group 420

 

Supervisors: 

 

Competition between companies in the modern world is becoming more and more aggressive and rapid, and it has become obviously that the most valuable instrument of company leadership is intangible assets, which include brand. The present paper describes a proposed study that will examine the problem of brand management strategies and analyze the role of branding in the companies as a part of the strategic-marketing process. The future research and analysis will be based primarily on theoretical studies and publications, represented by several groups of scholars with different approaches to the issue of branding and on the data collected during the company analysis.

The proposal includes four sections: introduction to the study, literature review, methodology and summary of the results anticipated.

INTRODUCTION

This part of the proposal introduces the background of the study, states the problem, indicates the professional significance and determines the significance of the research.

Background of the study. Within the present environment of increasingly aggressive competition, customers are becoming the key to successful business for many firms in different industries. Customer`s loyalty is regarded as one of the most important competitive advantages but it is very difficult sometimes to obtain the loyalty, especially in the industries with extra high level of competition. Nowadays every company is trying to find some tools and methods to reach this goal and one of the key tools is building a strong brand. It is one of the most effective instruments of obtaining the loyalty. Most part of customers are committed to the brand rather than a product. This fact makes obvious a need for branding.

Nowadays there is a great interest to the problem of branding strategies. An increasing number of publications in the sphere of brand management during the last decade signify the expanded role of this issue in strategic marketing. The problem of branding is not only connected with academic studies, but is also debated in the companies. It is becoming more and more clear that brand strategies must be one of the most important parts of the marketing strategy in the company.

However, there are numerous blank spots in the field of branding. This aspect of strategic marketing develops actively and relates to many subjects. There are many debates and discussions concerning the issue of branding, but it is difficult to reach some consensus in such question. The process of brand management becomes more complex and nowadays it includes different areas of marketing, such as neuromarketing, which is debated by many marketing managers and scholars. It will be necessary to clarify the issue concerning the most effective tools of brand management and the meaning of new approaches and instruments in modern marketing.

Problem statement. It is important to determine the role of brand management strategies as a competitive tool. The general purpose of the proposed study is to analyze the market-leading company`s practice in building and developing brands and determine the key tools and secrets of successful brand management. Using the results of the research it will be possible to improve a conceptual model of brand management.

Within this broad purpose the following questions will be observed:

  1. What are the most important factors and principles of success for building a great brand management strategy?
  2. In what way do these factors interact with each other and how do such interactions affect the final outcomes of a chosen strategy?
  3. Do the international companies pay sufficient attention to the problem of the brand management strategies adaptation to the needs of foreign markets?
  4. How is it possible to extend and improve the existing model of brand management in the company to make it more suitable to the needs of the Russian market?

Professional significance of the study. The issue studied will be of primary significance to strategic-marketing managers, especially to brand managers, who are interested in the problem of effective international branding strategies. They may use these findings to understand better some peculiarities of practical using of branding strategies in different cases. This research is based on the analysis of the large non-public diversified company which occupies a leading position in different markets. This research provides a great interest for those who try to create an effective branding strategy in diversified companies. Moreover, it will also suggest corrected branding strategy to the analyzed company due to up-to-date situation in the sphere of branding.

It is anticipated that the results of this study will help to identify the major factors of successful brand strategies and bring certain improvements into existing conception of brand management according to the specific nature of modern business environment, thus making it more applicable to most companies and the contemporary market conditions. It is anticipated that studies of the issue should be easily adapted for practical purposes.

Delimitations of the study. There is a variety of theoretical and empirical constraints to be taken into account. The study findings will be limited by the selection of the involved company due to its peculiarities, such as corporative culture, organizational structure, size of the company and some other points. Conclusions about brand management strategies implementation may not be applied to some other companies. It will be also limited by the involved markets (the markets included in the sphere of company activity).

The further constraints in question derive from the process of data gathered. Some primary data collected during the research may be not suitable for all companies, industries and business situations, because it will describe the approach to the issue of successful branding in the chosen company. It can have some differences in the other organizations.

Finally, there will be limitations concerning theoretical framework of the study. This research includes a fixed number of studies and approaches and do not cover all publications dealing with the problem of branding. It describes only the most important and valuable works. Despite these limitations, this approach is rational and rather rigorous.

LITERATURE REVIEW

This part of the proposal is meant to examine theoretical studies in the field of brand management. A large body of literature on brand management published over the two past decades provides a basis for the present study. The actual literature review will be developed through a systematic way of studying a considerable volume of literature on the subject.

Different research and literatures of brand management experienced a dramatic shift during the last decades: the role and purpose of branding is the subject of many studies in strategic marketing. The actual history of this branch of science is traced to works written by West European and American scholars. A considerable number of works deal with the question of branding, and the notion of brand has been revised many times in many academic studies by different sets of scholars.

The general theoretical framework of the research has been derived from several famous works of different scholars such as Aaker [1-3], Keller[4], Kapferer[5] and some others. Aaker argues that the process of strong brand creation and managing is very complex. It is difficult to overestimate the extraordinary importance of Aaker`s contribution to the research of brand management. His works have a central role in the modern brand management, because he creates a new approach to the issue of branding. For a long time the research on branding was concerned with narrow range of issues. He regarded a number of minor details. In Aaker`s conception brand must be analyzed like product, organization, personality and symbol.

One of the key works found during the literature search for the proposed study is the study by Kapferer (2003). He describes the history of `brand` notion and describes his own concept of four factors of branding. His research put forward new definitions in brand management, as well as Aaker`s studies. Kapferer emphasizes the role of intangible assets in the company and marks that nowadays the most valuable assets are not the production capacity but the place in the mind of the customer. He points out that brand does not only identify the product, but provides exclusive and positive meaning in the minds of a large number of consumers.

The issue of brand personality can be found not only in Kapferer`s publication but in Aaker`s and Keller`s studies as well. They consider the importance of this factor too. Aaker mentions that it is important to pay attention not only to functional properties of a product but also to emotional characteristics of a brand. In his conception every brand has personality like a human.

Aaker provides a well-defined structure of the relationship between a brand and its symbol and slogan, as well as each of the five underlying assets, which will clarify for managers how brand equity does contribute value. Aaker shows how to avoid the temptation to place short-term performance before the health of the brand and, instead, to manage brands strategically by creating, developing, and exploiting each of the five assets in turn. He pays attention to some minor details which were disregarded in previous studies of other scholars.

One of the possible ways to deepen the theory is to undermine traditional ideas about some problems. In addition to Aaker`s first study, Aaker and Joachimsthaler (2003) [6] provide a deeper analysis to the problem of branding. They leave behind a traditional branding model and propose a new explanation for the brand management strategies. They introduce the brand leadership model, which emphasizes strategy as well as tactics. Their research reveals new valuable results.

More precise problems of branding, described in the research of Kapferer, are addressed by Davis (2002) [7, 8].He talks about a new way of managing brands. He argues that brands, along with people, are a company’s most valuable asset. He states that there is a growing support for viewing and managing the brand as an asset and thus having the brand drive every strategic and investment decision. Specificity of his approach lies in the changing of the state of mind in brand management. He calls to use not only the basic strategic goals for brand strategy but also propagates a comprehensive model of brand management.

This large body of literature forms a basis for the future study. These studies have a tremendous role in the theory of brand management. However, it is obvious that these theories have some black spots and are not devoid of some shortcomings. All these studies were made some years ago and nowadays can be challenged because of high rates of market changing.

Thus, this study is intended to be based on theoretical framework and the models described in these theories, but it may be necessary to improve these models adapting them to the needs of modern market. The contribution of this research, if any, to the issue of branding will consist largely of the recommendations concerning the correction and modification of the existing models for the brand management of the companies.

METHODOLOGY

This part of proposal explains the methods to be used in carrying out the study and gives special emphasis to the analysis of primary and secondary data. There are many various approaches to the examination of brands and brand management. This investigation will be limited by focusing attention on the key features of this project.

The current analysis is based on collection of primary and secondary data to provide qualitative analysis of brand management strategy in the organization. The data collected will help to estimate the results of brand management strategy in the company and determine the key factors of success. It will also allow to see the correlation between these factors and to identify the instruments of brand adaption.

The study will consist of the three stages:

        1. Theoretical data analysis
        2. Secondary data analysis
        3. Primary data analysis

The secondary data will be collected by studying:

  1. Academic reports, literature, monographs and debates
  2. Business reviews and cases, expert interviews
  3. Information collected in the company

All the primary data will be based on semi-structured interviews of 10 brand-managers and the secondary information which will be collected during the internship in the company. It will be better to capitalize on this advantage to gain actual information about the real use of brand management models in the analyzed company. It will be necessary to gain the information concerning the brand management strategy in the organization and some methods and instruments which are used to manage company`s brand. It will be also very important to use such information as marketing programs, sales results, presentations, inside publications and some other sources. The interviews will be based on several issues:

        1. Key instruments of building and managing a brand in the market
        2. Key features and specificities of building a brand in the market
        3. Features of brand adaption to the Russian market
        4. Main problems of brand management strategy in the company

The gained information will help to carry out the analysis and reach the results of the investigation. The outputs of marketing activity will be compared against the company branding strategy to estimate the effectiveness of the chosen strategy and determine the key tools of success and the interaction between these instrument and final outcomes. If some blank spots and weak points of the company strategy show up, it will be necessary to make recommendations for the company concerning the issue of making a new brand management strategy or changing the existing one. The company analysis will be based on such instruments as SWOT-analysis, Porter`s five forces model, 7P model and some other marketing tools.

The reason why it is most suitable to use these methods is to contrive relevant qualifications and correlate this primary data with the secondary information such as scholar studies and business reviews.

It is important to guess that the methodology will take a definite shape as the study is progressing. Some new information may make some changes in the research and it is necessary to examine the emergence of these changes.

After making inferences from the data collected it will be easier to realize the reality of using strategies of brand management in the companies, determine the keys of brand success and provide some useful recommendations.

The methodology employed is intended to gain rather rigorous information and reach the rational results. This methodology serves the purposes of the present inquiry.

 

SUMMARY OF THE RESULTS ANTICIPATED

The following part of the proposal reports on the results which are likely to be obtained with the methods mentioned. As stated in part 1, the study reported here will examine in detail the issues concerning the process of brand management, the keys of successful branding, their interaction and brand adaptation. This project is also intended to discuss the approaches of well-known scholars in the field of brand management.

As a result of the study, it is necessary to get the outcomes which will reveal a list of key factors and instruments of successful branding and their interaction with each over and the final outcomes of the chosen strategy. The analysis will include the practical examples of use of described methods. This information can help to realize the process of effective brand management.

It is also anticipated that this research will help to clarify the issue concerning the problem of brand adaptation to the Russian market. The interviews with the company brand managers can help to determine the most important principles and secrets of brand adaptation to the needs of foreign markets.

Finally, the research will provide some useful recommendations for the company concerning the problem of expending or changing the existing brand management strategy. All the recommendations will be provided according to the needs and specificity of the Russian market.

The presentation of the results will use an appropriate pattern. The results will be reported accurately and objectively. Some complex data will be presented in tables. Some relations between factors will be demonstrated using a diagram. The appendices will include some raw data that will be collected during the practice in the company.

The study will have some major theoretical implications, confirming and expending the existing model. The primary significance of the study lies in providing the useful basis for practical activities of all who are engaged in the development of brands. It has a great potential to contribute more broadly to the business practice and provide useful recommendations for the companies in conformity with the contemporary market conditions.

 

REFERENCES

1. Aaker, David A. (2003), Building Strong Brands. – Grebennikov PH. Moscow

2. Aaker, David A. (2004), Brand Portfolio Strategy. Creating Relevance, Differentiation, Energy,Leverage and Clarity. New York, Free Press

3. Aaker, David A. (2005) Managing Brand Equity Capitalizing on the Value of a Brand Name. – New York.  Free Press

4. Keller K.L (2005) Strategic Brand Management. – PH Williams Moscow

5. Kapferer, Jean-Nоёl (2003), Strategic Brand Management, Great Britain, Kogan Page.

6. Aaker, David A. and Erich Joachimsthaler (2003), Brand Leadership - London, Free Press

7. Davis, Scott M. (2002), Brand Asset Management: Driving Profitable Growth through Your Brands, San Francisco, Josey Bass.

8. Davis, Scott M. and Michael Dunn (2002), Building the Brand-Driven Business: Operationalize Your Brand to Drive Profitable Growth, San Francisco, Josey Bass.

 


Описание работы
Competition between companies in the modern world is becoming more and more aggressive and rapid, and it has become obviously that the most valuable instrument of company leadership is intangible assets, which include brand. The present paper describes a proposed study that will examine the problem of brand management strategies and analyze the role of branding in the companies as a part of the strategic-marketing process. The future research and analysis will be based primarily on theoretical studies and publications, represented by several groups of scholars with different approaches to the issue of branding and on the data collected during the company analysis.
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