This discussion is about my internship. I am interning for a restaurant/cafe called Plate & Petal. ( please see website)
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The American Marketing Association defines a brand as “a name, term, sign, symbol, or combination of them that is designed to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors” (American Marketing Association Dictionary).With this definition, brand is conceptualized as a set of identifiers. But what do those identifiers represent? Behind those identifiers is a deeper construct of brand, one closer to “product positioning” as we discussed in class on the first day. When a manager is engaging in product positioning, they are developing an image of the product in the minds of consumers. All four Ps are used to do this. The identifiers mentioned above, in the definition of brand, come to represent that image. To have brand EQUITY, a brand must have awareness (from consumers), a reputation, and prominence in the marketplace. Not all brands have equity.
Think about your company you are interning. If they have multiple brands in their portfolio, I want you to focus on their corporate brand. That is, focus on the umbrella brand. (For instance, Apple is a corporate brand. The Apple brand is the umbrella under which you will find brands iPhone, iPad, MacBook, and so on.)
- What is the image your organization wants consumers to have of their product/organization? (What’s the product positioning strategy?) In your opinion, how do the 4Ps either support the image or fail to support the image?
- What are the brand identifiers? In your opinion, how do they support (or not) your organization’s positioning strategy?
- Does your brand have equity? What is the brand equity based on? If they don’t have brand equity, what do you think they can do to increase their brand equity?