Marketing And Brand Management Essay

690 words - 3 pages

Running Head: MARKETINGMarketing and Brand Management[Writer Name][Institute Name]Marketing and Brand ManagementIntroductionConsultants, researchers and managers recognize the brand management is an important tool for marketing in this global era (Kurtz, MacKenzie & Snow, 2009). In a time of constant continual change in the global marketplace, a brand provides a source of constancy and consistency that a firm offers to customers.DiscussionA brand name can be extended to countless products in time, and become a source of identity that builds its position in the global marketplace among customers, retailers, and other market participants. Hence, building global brands in the 21st Century is recognized as one of the greatest challenges a firm faces. However, having a successful global brand will help ensure a firm's continued success in the global marketplace (Kurtz, MacKenzie & Snow, 2009). The global war is said to about world brand dominance. This adds an entirely new dimension to strategic brand management. Today, brands should thrive globally to survive locally. A brand's marketing strategy must not only compete with regional or national brands' but also with international competitors' marketing strategies (Kotler & Pfoertsch, 2006). RationaleThis research paper will describe marketing and brand management in many aspects. Marketing is not just to sale products but it starts from anticipating consumer's need to consumer's satisfaction. When consumer becomes brand loyal then he or she is already satisfies from the product before buying, that's why brand management is very important for marketing (Kurtz, MacKenzie & Snow, 2009).Background to the StudyThe main subject of this dissertation is this last point of strategic brand management; namely, geographical extension of brands. The aim is to bring together two important trends of the new millennium, strategic brand management and globalization. Today, few firms can escape the necessities imposed by intensified global competition. Going global is the only way to have economies of scale to keep costs down, get access to different buyers and suppliers, finance development and innovations that competitiveness asks for (Maguire, 2007). The success for the future does not come if a company only takes the national market into consideration in strategic...

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