A. Comment on the group presentations (except your own)
B. Select one of the below and discuss:
- What is cause-related marketing and give an example from Malaysia?
- Is branding always a good thing? Why or why not?
- Do the 4Ps' still apply to Services marketing?
See you on the 28th.
~ Man Yin ~
ReplyDeleteBranding is always good for the company; whereas, it is not always a good thing on the buyer aspect.
Lets view it on company aspect: branding is a strategic decision that can add value and attract the consumers loyalty. Every brand is created with its outstanding outlook and also special function to be distinguished from other brand. Due to the uniqueness of each brand, the targeted market is fix and long lasting. However, when come to economic down turn, branding products are the most affected products compare to normal products. Consumers no longer spend much money in purchasing expensive products.
In consumer aspect, branding is not always a good thing. Due to peer pressure and the strong concept of society status, some of the consumers is suffering to own those high price branding products. With holding branding products like Gucci, L.V., Nike...etc, consumers are proud, confident and acknowledge as high level's users. Hence, mostly consumer buy branding products cause of the appearance and to show off without concerning if the products useful or not. Besides, due to the attractive of branding products in the market, this is where more and more fake products turn out. The quantity of the products is then increase while the quality is worsen.
Actually, I think branding is good for consumers sometimes, especially when they want to compare the quality of goods, especially needs. What Man Yin said regarding peer pressure makes a lot of sense, but this is usually about WANTS more than it is about NEEDS. For needs, branding allows the consumer to differentiate the level of quality of the good, because I think that most of the time, brands of goods that are NEEDS almost always counts as an important factor when purchasing. For example, compare Dynamo and Harimau detergents. Obviously, Dynamo is perceived as the better good, even though its price is higher than Harimau. Consumers (of an, at least, average income) who want to buy good detergents would prefer Dynamo.
ReplyDeleteFor goods that are WANTS, however, think about this: Buying Nike from Petaling Street is now almost like buying the actual thing itself, since they are almost identical, so now there's no telling by sight which is the real branded good or the copy-cat, is there?
As for how branding is taken by the producers, I think the company really has to come up with a brand name that is able to knock aside all other peers in order to lure consumers. Honestly, (assuming Dynamo and Harimau were NEW brands in the market) I think consumers would have better perception of Dynamo than of Harimau for their home use.
Branding can be critical in Marketing Strategy because we are not running our business alone within this market but in fact, we are currently facing lots of serious competitions. Branding, could be the first step of the planning to make your own business or products remarkable and outstanding among all competitors.
ReplyDeleteBy creating your own brand, you're making your consumers to be more convenient to recognize "who are you" and remember it. Its like an introductory for others have a brief understanding about your company. Nowadays, the brand is actually a symnonyms to quality as people will tend to purchase branded goods rather than some unknown products and in this case, it leads to human psychographic aspect whereby a remarkable brand name represents status and power. Thus, surely people will prefer products or services attached with famous brand name.
By benette lee
ReplyDeleteB. What is cause-related marketing and give an example from Malaysia?
Does the term "cause-related marketing" (CRM) neccesarily mean philanthropy, or corporate responsibility? Truth is, CRM provides a powerful marketing edge in terms of the promotion of goods and services in which these products are deemed to support a charity or promote a good cause. Business firms would collaborate with charities and organisations to market an image for a mutual benefit(s). This marketing activity allows for brand loyalty among the people of today's world as companies prove their commitment to a good cause. It benefits the business as well especially when people nowadays tend to lean towards charity and would rather pay for a good or service that stands for something other than just to make revenues (profit priority). When a company practices CRM, there is an engagement held with their consumers as the company is able to express and mirror their brand values, beliefs and integrity within their business. Companies too are able to deliver the use of their product(s) to spread the awareness for a cause, or to support a charity related to the product as well as to mobilise customers to get behind a worthy cause. All in all, CRM would benefit a company tremendously as this would allow for it to stand unique amongst all other competitors as well as to showcase other (tangible) benefits such as increment of sales and visibility, the engagement of customer loyalty towards the brand/ company, enhancement of the company's brand image as well as to generate strong and positive coverage by the media.
It is vital to select partners that share a sound agenda in which they would benefit more if a partnership should be generated between their and your company. The United Nations Children’s Fund (UNICEF) child protection program in Malaysia worked with Kérastase in a campaign called "Care and Protect" (http://www.unicef.org/malaysia/media_5911.html). Kérastase is a luxury hair care brand from Paris collaborated with UNICEF Malaysia in this campaign which aims to curb violence against children. The two partners had the agenda to build a safe environment for children and worked with Malaysian designers (Zang Toi, Donna Chew and Beatrice Looi) to design limited edition environmental-friendly bags in attempts to spread awareness to "care and protect" children. This allows for Kérastase to extend its brand philosophy as well as present itself as a company that is interested in the well-being of children. The bags were tagged at RM15, in which fifty percent from the total sales collected would be donated to beneficiary, UNICEF.
Do the 4P’s still apply to services marketing?
ReplyDeleteIn my opinion, the 4P’s definitely still apply to services marketing.
Take PRICE, more and more competitors are offering services. This can be seen from the increasing number of people being employed in the service industry. This means that each firm has to price its service well to obtain and attract its chosen target market.
A service is also definitely a PRODUCT as a product is anything that can be offered to a market which can satisfy a want or a need. Products include physical objects, SERVICES, persons, places, organizations and ideas. Although services may be intangible and perishable, they are nonetheless still products.
Practically all products need PROMOTION. Promotion does not have to be in a form of advertisements but can also be through word-of-mouth. It really depends on the type of service to see what type of promotion is needed (mass promotion, targeted promotion etc.)
In my opinion, PLACE apply and do not apply to services marketing. When place do not apply to services marketing: Where the firm carries out its services may depend on the customer’s requirements. For example, RedRibbon Days, a company in Malaysia which specializes in gifts which uses experiences. A customer may want their service to be performed at different places, different times etc.
When place do apply to services marketing: Hotels form part of the service industry and the buildings are always built at tourist spots and cities. Motels will usually be placed at areas where people are travelling a long-distance and need to stop to take a rest.
Although, the 4P’s still apply to services marketing, other factors must also be taken into consideration like relationships between seller and buyer and the quality of the service provided.
I totally concur with what Joanna has said regarding the 4P's still applying to services marketing. However I would like to add three other extended P's of service marketing. These P's are: people, process and physical evidence.
ReplyDeleteIn people, relationships and interactions between people are the core of this marketing mix for it believes when people interacts with people multiple service experience might be described.
Process, in the case of 'high-contact' services, customers are often involved in the process of creating and enjoying experiences. For instance travelling,where it involves 'high contact' or participation on the part of its customers in order to fully create and enjoy the experiences it provides.
Physical evidence, services are mostly intangible therefore other tools and techniques in measuring its satisfaction is important. For instance, spa treatment or facial treatment - a form of beauty service where the satisfaction of its customers can be measured as results and improvements on the customer's skin improves.
Therefore, there are 7P's to services marketing.
Is branding always a good thing? Why or why not?
ReplyDeleteI would say it really depends on the product, but again I would say branding is not "always" a good thing. Below is an example.
I am in the middle of purchasing a new phone, and it took me a while to decide if I should get nokia e-63 or e-71, after reading a few reviews and asking people who are using both the phones, I finally decided to go for e-71.
Because:
1. The branding of e-71 is better/ higher/ more recognized.
2. The reviews were way greater then e-63
3. Consumers who purchased e-71 were very pleased.
after deciding on the phone, then came in the price, the negotiation part, I was offered rm 1260 with a 8gb of Kingston, if a normal brand its rm30 cheaper, why is this, its because of the brand and nothing else as the parts and the software is all the same, but to think it logically its a just brand,
we are paying for the brand, as the software and parts are the similar.
so therefore I stand in my platform saying branding is not always a good thing as it all depends on us the consumers, the product and how we see it in our perceptions to our needs and wants as a consumer.