Brand leaders are involved in the management of their brand which involves planning, implementing and monitoring brand strategies that enhances the successful marketing of products or services (Priyadharsini, 2013). Management skills are a secondary function of brand leadership. A brand needs good leadership if it is to succeed, which is why the role of the brand leader is important. The brand leader spends time ensuring that strong relationships are built within the organization and that employees understand the brand purpose. Brand leaders are transformational in the sense that they motivate employees and define and communicate the future of the brand effectively.
Through an effective marketing plan, an organisation gains an in-depth knowledge of its target market, which assists in its long term decision making. In summary, marketing planning is essential to strategic planning because it ensure important resources are targeted towards the appropriate goals and minimizing time and cost losses. 2.0 Organisational auditing involves the determination of an organisations capability to effectively plan its future marketing activity. In order to achieve this, certain elements of the organisation are examined. These elements will be discussed below.
A. Evaluating strategic options A desired result can be produced through effective implementation of strategies. Effective strategy means when it accomplished to attain the short term or long term goals which is in line with the vision and mission of the organization as well as the expectations of the stakeholder. Top level management should understand how effectively operational process in an organization can be done in a competitive environment and the organizational components which influence the operational process. The organization has many choices in strategy formulation.
It is the commitment of a company to account for the impact of its operation in social, economic, and environmental dimensions (Achda, 2006). As one factor that frames CSR, culture becomes one of the triggering points that influence the institutional environment of the corporation. Institutions are interlinked with culture as they both help in practicing norms and increasing values of corporation. For CSR, this could be transmitted as an obligation for
Q1) Marketing is defined as the management process responsible for identifying, anticipating and satisfying consumer needs and wants profitably. From this definition we could see that marketing involves a number of related management functions like market research, product design, pricing, advertising, distribution, customer service and packaging. Marketing activities are all those associated with identifying the particular needs and wants of target market customers and then trying to satisfy those requirements better than their competitors with the help of market research to identify customer needs. With this knowledge strategic decisions will be made about product design, pricing and required promotion along with being a corporate social responsible company. Q2) A company’s micro environment means factors in a company’s immediate area of operations that affects its performance and decision making freedom.
That means what we want to check is easily checkable. Research limitations/implications – The model proposed in the research shows the impact of brand personality on key major relational consequences of this construct: trust, attachment, commitment, price and loyalty to the brand. Future research should study the influence of brand personality on other consequences such as brand strength, brand awareness, and preference, customer satisfaction, perceived quality, performance. Practical implications – The research demonstrates that brand personality affects the type and strength of the relationship that consumers maintain with brands. It is a useful tool for managers to direct or reinforce the lasting relationship they want to develop or maintain between their brands and the consumers they target.
Market orientation means to focus on customers and competitors and to make coordination among different departments of an organization, on the other hand, marketing orientation is an attitude of marketing department itself through which the institute attempts to satisfy its customers’ needs (Ismail et al. 2009). This article focuses on the concept of market orientation and service performance in service
In brief, the BSC appeared as a strong measurement tool which highlights a holistic view to look at the organization’s performance. It helps organizations to implement the long term strategy measuring with short-term actions. Additionally, BSC provides the framework for an overview of value creating activities by linking intangible and tangible assets (Kaplan and Norton, 2001, P. 67). BSC further describes how intangible and tangible assets create value linking cause-and-effect relationships through mapping the strategy by linking the measures. The concept of strategy maps in an organization provides the base for building strategies by links in the BSC and help organizations to understand how intangible assets can be transformed into tangible financial and customer assets (P.68).