LLBean guarantees that its products will last forever. What features of a pair of pants from LLBean would be an actual product, and which would be part of the associated services?
A pair of pants bought at the LL Bean store constitutes the actual product. The actual product refers to the tangible elements of a given product. Some of the tangible features of the pair of pants bought at the LL Bean store would include the brand name, the level of quality of the pair of pants, and the packaging. Other features would include the styling adopted in sewing the pair of pants. On the other hand, some of the associated services of a pair of jeans bought at an LL Bean store would include the customer service that the buyer receives while making the purchase, the level of accessibility of the product, and product guarantee.
Identify a specific brand that has developed high brand equity. What specific aspects of that brand establish brand equity?
Brand equity is the value attached to a certain brand. It is affiliated with the degree of perceptive brand quality, brand-name recognition, and strong emotional and mental associations. Other components of brand equity include trademarks, channel relationships, and patents. Coca-Cola is among the top global brands. The Coca-Cola brandmark and name have gained global recognition, and this has resulted in significant brand equity. A lot of people have come to associate the brand with high quality and consistency. There is also the issue of reliability in distribution given that Coca-Cola is available in all corners of the globe.
A lot of people are also strongly attached to the brand. For example, when the company attempted to alter the recipe of Coca-Cola and rebrand it like New Coke, a huge uprising ensued, and the company had to replace the old recipe and name. Some of the benefits that the Coca-Cola Company has gained from its strong brand equity include reduced marketing costs owing to inversed consumer loyalty and brand awareness.
Are you loyal to any brands? If so, pick one and explain why you believe you are loyal beyond that you simply like the brand. If not, pick a brand that you like and explain how you would feel and act differently toward the brand if you were loyal to it.
Although I am not loyal to any brand, I like the Apple brand a lot. If I was loyal to this particular brand, I am almost sure that I would ensure that I buy all the new products that the company launches. For example, this year, I would have already purchased the iPad 3 and the iPhone 5. I would also be contemplating on buying an Apple TV. I presume that the high level of innovation by Apple contributes to high consumer brand loyalty. Apple has differentiated itself from other competitors with its high level of innovation and premium products. As a result, the company is always producing revolutionary products. The company can, therefore, charge a premium price for its products and remain competitive owing to strong brand loyalty.
Do you think that all edible items sold in a grocery store should have an ingredient and nutrition label? Consider the perspective of consumers, the manufacturer, and the store.
I think that all edible items sold in grocery stores should have ingredients and nutrition labels. It will enable consumers to make the right choices when shopping for groceries because they shall be guided by the nutritional information of these products. This enables the consumer to choose grocery items based on the listed ingredients.
Labeling grocery items also assist consumers to make healthy choices. For example, a customer can choose between genetically-engineers products and organic products because labeling enhances this distinction.
Besides, a consumer can decide to buy eggs laid by free-range chicken or organic eggs based on the labels as well. Ingredients and nutritional labeling are also important to manufacturers because it shows that they have complied with food labeling standards. Such a practice is also in line with good manufacturing standards. Ingredients and nutrition labeling can also help a store to define its niche in the market. For example, a grocery store can position itself as an organic grocery store by simply stocking organic foods. It differentiates the store from other general grocery stores.
Is Microsoft’s Windows 8 Professional operating software a product or a service? Describe the core, actual, and augmented levels of this software offers.
Microsoft’s Windows 8 Professional operating software is a product. It is tangible, although it cannot be seen. The core level of the software is convenience, efficiency, and effectiveness in information technology and information processing. The actual product for Microsoft’s Windows 8 Professional operating software is high quality and speed in computer and technology processing. The augmented product level is regular up-gradation, customization, and maintenance of the software.
Affect of legal actions on the brand image, market share, and profitability of the brand: article analysis
The two companies took the necessary legal actions in a bid to protect infringements on brand image. Companies have to protect their brands from being infringed by third parties. However, the actions could be classified as outrageous and uncalled for because such legal actions affect the brand image, market share, and profitability of the brand.
Importance of valued of the brand: article analysis
The large proportion of marketers (55%) is an indication that organizations have to educate marketers on the importance of valued brands if they need to achieve growth. Furthermore, there is the need to come up with more acceptable branding expertise and metrics to promote quantitative understanding as senior marketers are expected to be more informed on issues related to brand value and the effect it has on an organization.
Classify the following consumer products as a convenience, shopping, specialty, or unsought goods: a laptop computer, a surgeon, and automobile tires.
Different consumer products are classified differently based on their use. A laptop computer is a shopping good because a consumer has to consider different factors before the final purchase. A surgeon is a specialty good because it is unique and has distinctive characteristics and specialty. Automobile tires are convenience goods as they are easily accessible and available in the market at low prices.
Labeling edible items in stores are informative to the consumers and increase their desire to purchase. Good knowledge of the ingredients of an edible item enables a consumer to know the nutritional value, healthy benefits, and any risks involved. The store and the manufacturer benefit in the sense that more purchases can be carried if consumers are aware of the ingredients in the products they buy.