This website uses cookies to ensure you have the best experience. Learn more

Why Is The Brand Increasingly Important For Multinational Companies And What Function Does It Serve?

2029 words - 8 pages

69% of three all year olds know the golden arches of McDonald's. Half of all four year olds don't know their own name . Should we worry? Each and every day we are immersed in a swarming consumer culture without truly being aware of it. Are we really aware of our dependence on brands and branding, and how do the companies and corporations behind these brands seek to develop and cultivate them?In order that I address this issue we must first establish our own definition of the term 'brand'. Brands are personifications of organizations, products, services and experiences. In this way they are the primary sources of relationships with customers, promises to customers, and customer loyalty.The process of giving a 'name' or brand affiliation to a product has developed rapidly this century. Brand marketing grew alongside the consumer society, supported by the surge in consumer durables and the expansion of commercial television. Branding gives consumers the assurance that their next purchase of a product will give them one which is virtually identical. Brand loyalty is created, and I hasten to add exploited by the manufacturer, through the tacit guarantee of quality and consistency.Branding can take two main forms: multiple branding and multiple product branding. Multiple branding involves a firm using a range of brand names for its products. Rank Hovis McDougall for example, have a number of brands including Mr Kipling, Bisto, Mother's Pride and Hovis. Multiple brands allow the firm to develop brands for particular market segments. It also has the advantage that failure of one brand should not have a knock on effect on the others. Multiple product branding is where only one brand name is used for a range of products. Firms which use this method of branding include Kellogg's, Cadbury's and Sony. The main advantage of this form of branding is that the brand can be built up over a range of products, allowing the strengths of one product to bolster another, and allowing new products to be more easily introduced to the market.Now we have established an understanding of the brand let us get to the crux of this argument - how and why corporations desperately strive to create such a brand image.Multinational companies derive many benefits from the tacit agreement that their brand offers, the majority of which I will attempt to outline as follows.Brands seek to meet needs and wants of consumers, and are therefore designed in order to sell more products. Firms seek to raise the product beyond simple use value; to give it more appeal than a generic use.Early use of branding was mainly restricted to highlighting product quality and reinforcing its unique selling point, i.e. it was related to the functionality of the product. Much has changed however from the early years of branding, embodied by adverts such as the Daz whiteness campaign, with emphasis placed on the product and its function, to the more recent advertising campaigns, one of the most famous being the...

Find Another Essay On Why is the brand increasingly important for multinational companies and what function does it serve?

Why does Insurance Companies Do not Cover Vision Therapy

2346 words - 9 pages disability, they might think that there is little hope trying to consult a specialist who might still be able to fix the problem in some way. Given all the procedures, examinations, and treatments, vision therapy can cost up to 8000 or 9000 dollars per patient. In a country where twelve percent of the population has an eye-related disorder, the price of vision therapy does not make it an appealing treatment to the masses. For example, part of the

Why is the Dispute Settlement Body of the WTO so Important? Does Experience Suggest that Big Players can Ignore the Rules?

1646 words - 7 pages the importance for the US to maintain its loyalties with the WTO and respect and respond to its ruling. Perhaps the reason why the US feels it can afford to ignore threats of sanctions and panels put forward by the dispute settlement body is because the US feels its sovereignty is compromised by international rules and 'that multi-lateral institutions limit rather than expand US influence' . In fact The Director-General pointed this out but

What is Worldview and Why is it Important?

1627 words - 7 pages merely a man-made attempt to try to understand something we cannot possibly understand on our own. Works Cited Foster Gamble, "What is “Worldview” and Why is it Important?," Thrive (blog), ("What is dialectical materialism?" ) Derek Lin, "What is Zen?," (blog),

What is Nutrition and Why Is It Important?

1496 words - 6 pages What is nutrition? Why is nutrition important? Nutrition, nourishment, or aliment, is the supply of materials - food - required by organisms and cells to stay alive. In science and human medicine, nutrition is the science or practice of consuming and utilizing foods (MNT, 2014). A nutrient is a source of nourishment, an ingredient in a food, e.g. protein, carbohydrate, fat, vitamin, mineral, fiber and water. Macronutrients are nutrients we

What is Service? Why Serve?

1429 words - 6 pages responsibility for a world in which you are thrown, a world you did not create, and in which you did not choose to live. Call me an existentialist, but there is something very beautiful about the type of responsibility a person takes on her shoulders when she decides that it is not enough to simply watch the world go by. When we begin to think about things in these terms, the question "Why should I serve others?" ceases to be intelligible. One

Jewish Festival "Passover" What is it about, why is it important and what happens during the festival

655 words - 3 pages /Pesach. All the Jewish people around the world remember the stories of Moses and think about what their ancestors did for them. They can all think about the hardships that there the Jews back then went through.On the other hand, some people may think that Passover doesn't really unite the Jews. Because the festival is so old, times have changed and many Jews wont have the time to reflect back on the Exodus,etc.I personally think that it does strengthen the feeling of unity between Jews because all Jews celebrate for a common cause and they all remember what happened to the Israelites.

What is “organisational culture”, and why is it important for managers to have a thorough understanding of their organization’s culture?

940 words - 4 pages measure the thoughts and feeling of how people see and view the organisation. The management consulting firm Bain & Company was surveyed in 2007, and concluded by worldwide business leaders that ‘corporate culture [is] to be as important as corporate strategy for business success.” Organisational culture includes visible manifestations such as symbols and heroes whilst encompassing the missions, values, expectations, philosophy. It relies on shared

Public Art in Greece: To what extent and in what ways does the Parthenon perform the function of a gigantic billboard for the late fifth century Athens? For whom is it intended?

1808 words - 7 pages , where the Persians were defeated, served as role models for young Athenian men to aspire to. (This is not unlike our own war monuments) It thus honored their courage and sacrifice and elevated them from being mere mortals to worthy heroes, ascending and joining the realms of gods. These young warriors "must evoke a generation that is to come - or a generation that has already been" ."Just as the young men in the frieze are presented in their

What is Suicide and Why Does It Occur?

1083 words - 4 pages , friends, peers, and the society around them, a sense of isolation and alienation begins to increase (Farberow, 1985). Suicide does not just happen. The ground-work for this decision seems to be imprinted early in the adolescent’s life, while they are developing, interacting, and learning appropriate methods of behaving. The relationships that exist between the adolescent, family, and society is what validates the adolescent’s very existence, and

What is fascism and why does it emerge?

1418 words - 6 pages and Insurgence". The government then controlled these under managing agencies called "Corporations" which in turn would regulate issues and guidelines such as supply and demand, labour disputes or what interest the business is to aim at. Although the system is supposed to function as a partnership, the government is always in control and dominate.Although the fascists claim this system is in the interest of the nation, it is only in the interest

Cultural Survival: What is it and why is it important? - MRU and ANTH 1101 - Research Essay

2268 words - 10 pages religious practices that they do for example, with Christianity. It was also brought up that if these lands contain mineral resource that the Tribe must be able to voice out their opinion and suggestion regarding their use. After all, they know better what is good for themselves than anyone else. A surprising connection was made between the increase in crime rate and the increase in the number of non-Native workers in the area. A spokesperson for

Similar Essays

Case Name: I Premier Case 1. Issue Identification. 2.What Do The Facts/Issues Suggest, And Why Is It Important To Consider The Issues You Raise? 3. What Does Your Analysis Suggest Should Be Done?...

1318 words - 5 pages ; and he had no training or manual to turn to for guidance because of this he spread panic through the company. It is easy to prioritize profit generating activities over expensive maintenance needs and this case is an example of how that kind of attitude can jeopardize the whole business. � iPremier was very lucky that the attack occurred at 4:31am.� Due to the time of the attack you could almost call the attack a gift.� They were able to learn

What Sort Of Man Is Walton? 1) Does He Serve Any Thematic Function In The Novel Or Is He Included Largely As A ‘Storyteller’.  That Is, Is He Inc

896 words - 4 pages was younger, how once a story is told it is passed on with less of the original tale. Walton is used as a ‘storyteller’ within the novel, passing one story onto his sister and the reader, though he does serve a purpose as the character who sees wrong in what he is doing, contrasting with the other two protagonists. Walton is also the neutral approach towards the whole tale, providing the story with a ‘filter’ to remove Victor’s opinions and

Consider Reasons Why Companies Seem Increasingly Committed To Presenting Themselves As Being Sensitive To Ethical And Environmental Concerns

1654 words - 7 pages a good asset. It is estimated that the average aggrieved customer will tell a total of ten (10) other people, a happy customer will tell only four (4) people. (Chryssides and Kaler 1998). However while ethical businesses encourage customers to "shop around" in order to find what they want to buy, other companies might mislead and lie to the customer in order to coerce them into buying a particular product, which a customer may not want or need

Why Has Improved Corporate Governance Become An Increasingly Important Topic In Recent Years?

1375 words - 6 pages Corporate governance has evolved into an important institute within recent years because of the highly visible corrupt and unethical practices of large and global companies such as Enron, WorldCom and Parmalat, the Italian dairy conglomerate. These scandals had left stakeholders and governments in a disorientated state.It has always attracted attention due to its apparent importance for the economic health of corporations and society in general