Expert answer:Brand Audit Presentation
Expert answer:Refer back to the brand chosen for the Week 1 assignment.Conduct a brand audit for the brand using the Rolex Brand Audit as a guide from Ch. 8.Create a 10- to 18-slide Microsoft® PowerPoint® presentation with speaker notes to deliver your brand audit.Include the following:BackgroundBrand InventoryBrand ExploratoryStrategic RecommendationsTactical RecommendationsCite all sources according to APA formatting guidelines.
loyal_customer_worksheet.docx
product_lifecycle_management.docx
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Retail Data Analytics for Decision Making
BRM/353 Version 4
University of Phoenix Material
Loyal Customer Worksheet
Select a brand in which you are familiar and/or are a loyal consumer (This will be the basis for future
assignments).
Cite all outside sources according to APA formatting guidelines.
1. Complete the following chart in 90- to 175- words:
Apple X the new smartphone
Brand
Apple company is a highly engaged company which has a strategic
presence within the technology industry under which it has been
World for better, and quality devices that can be relied upon.
Why was this brand
selected?
2. Identify the four components of brand position:
1
High Quality
2
Differentiated products
3
Exceptional customer service
4
Strong brand
3. Analyze the brand position in its niche/market as it relates to the four components of brand
position in 90- to 175- words.
Apple is a highly engaged organization that produces exceptional products to its specific target market,
which has remained satisfied within the company operations thus improving the overall environment
under which it is crucial in improving the business performance. The production of differentiated
products has played a key role in improving the company market share and overall engagement with a
significant focus on ensuring that there is a greater focus. The company has significantly developed a
well-organized service delivery platform where it has remained highly engaged and developed itself into
a strong and undisputed market presence commanding a significant market share
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4. Evaluate brand equity in 90- to 175- words.
The company has been significantly engaged in its creative and innovative focus, which has been the
focus of the company over the years. The innovation and creativity that is developed by the organization
focus on the design of its products, development, and marketing. Apart from the products, the
organization is also significantly engaged in the sale of software, networking solutions as well as
technology related services. The uniqueness of the company products regarding quality and design has
played a crucial and a key factor in gaining competitive advantage in the market.
5. Identify current challenges and opportunities for the brand:
Challenges
Opportunities
The company has a feeble international distribution
strategy. Distribution strategy plays a greater role in
creating an overall environment under which it can
be based to improve on its overall engagement in
the industry.
The company produces exceptional computer
systems which have been developed to be
incompatible with other major systems in the
industry thus isolating apple system users.
Diverse technological environment creates a
greater understanding and focus in the industry.
Overdependence on its key production which is the
smartphone brand
The mobile enterprise market is key to the
company development process thus creating a
highly diversified operational environment.
The company faces stiff competition from other
highly developing companies such as Samsung
and Microsoft has really intensified leading to the
company reduced revenues
Having a large market share and trendsetter in
technology innovation is crucial development of the
company to diversify its operations.
The world has significantly embraced the go green
strategy and thus producing environment friendly
products is a key consideration that the company
can consider.
6. Explain in 90- to 175- words what strategies you propose for the brand based on the identified
challenges and opportunities.
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Being in a position to build on the strengths is crucial in ensuring that there is a greater focus on the major
underlying elements within the organizational environment. There is need to promote positive
understanding under which it will be key in improving performance. The global distribution strategy needs
to be diversified in ensuring that it is highly engaged in improving the company performance and
engagement in the market. The company should focus on putting in place a significant and more direct
multi-channel distribution strategy that will include more department stores and specialty retailers, full-line
stores, factory outlet and e-commerce which will focus on online marketing.
7.
Based on the readings, what is the difference between a product and a brand? Compare the two
in no more than 175- words.
Product
Brand
Made by companies while targeting the market.
The products therefore are developed with critical
focus to engage the target market in hope of
creating a brand based on the reception received
in the market.
Made by consumers through high-level focus on
market engagement. When consumers develop
an interest in a given product it boosts the
company overall wellbeing where there is a
greater understanding on what needs to be
considered in improving the overall wellbeing of
both customers and the business.
Brands are significantly involved in more than
meeting the customer needs in the market where
there exists a significant environment under which
better developments can be based such as social
corporate responsibility.
Brand create a higher focus on the overall
understanding under which it is possible to
develop a greater understanding under which it is
possible to have a successful focus.
They perform a specific function within the market
thus creating a very unique environment under
which it is possible to develop a clear
understanding under which better organizational
development can be undertaken,
Products depend on the brand in order to have a
higher level of focus and engagement within a
business environment
Copyright © 2017 by University of Phoenix. All rights reserved.
Running head: PRODUCT LIFE CYCLE ANALYSIS PAPER
Product Life Cycle Analysis Paper
Cherrie Blackman
BRM/353
December 18, 2017
Thomas Melpolder
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PRODUCT LIFE CYCLE ANALYSIS PAPER
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Product Life Cycle Analysis Paper
The Apple Company is a highly engaged company, with a strategic presence in the
technology industry under which it has produced the best devices that their clients can rely on.
Looking at the components of brand positioning Apple Company maintains its position at the top
is the best (Linzmayer, 2014). Take for instance the latest iPhone X smartphone. The phone is of
high quality, almost everything that one may look for in a smartphone has been taken care of in
the iPhone X. When it comes to differentiating products, the Apple Company has done a perfect
job. Starting from their laptops, smartphones to watches. Their products are unique and
prestigious to have. The apple mark for example at the back of their products is a unique way to
brand their products.
The company offers an exceptional customer service to their customers. Customers are
treated with great care and their needs catered for. The Apple Company is aware that pleasing
and satisfying the customer will make several other customers come to them and keep the old
ones. Apple products are durable products; the company has established a strong brand for itself
in that as much as their products are slightly expensive as compared to other smartphones in the
industry people still buy them in plenty. The Apple Company has managed to create a healthy
brand for itself by producing reliable and beautiful products for their customers. You find that
Apple products are slightly expensive as compared to other phones but people will still purchase
them. Take for instance the latest iPhone X smartphone which will be going for almost a
thousand dollars; this will always be bought because the brand is strong.
Taking the iPhone X as one of Apple’s products into consideration, its product life cycle
is as follows. The product life cycle of any product involves four stages which are the
PRODUCT LIFE CYCLE ANALYSIS PAPER
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introduction stage, growth stage, maturity stage and lastly decline phase. The determination of a
specific product stage in its life cycle is never based on age, however on the relationship of the
product with sales, profits, costs as well as competitors.
1. Introduction Stage: In this stage, the product introduced into the market is very new,
and only the innovators are aware of it (Anderson, & Zeithaml, 2016). Innovators only comprise
a small population. Therefore, the sales might be low, so at this stage, a lot of money used in
production is trying to be recovered. Marketing strategies to make the product public should be
done during this phase. It is important to know that in this stage the company enjoys typically
product monopoly as there are no competitors in the market yet. This step does not result in
immediate profits, but the company hopes for the future and will be willing to incur losses at the
time,
2. Growth Stage: Sales begin to grow as people start to adopt the product and profits will
start to flow at this stage. This is an excellent time for most companies as it still enjoys
monopoly early in this step. Later in the scene, competition begins of related businesses. Profits
will continue to grow at this stage, however, will be shared among many other groups in the
market.
3. Maturity Stage: When the growth stage comes to an end, the market gets to be very
competitive. This situation continues until the early beginning of the maturity stage. Product
differentiation is what will keep one’s product at the top of the market when it comes to this
stage. Competition for customers becomes tight as there are so many manufacturers in the
market at this stage. Towards the end of this step, profits may begin to go down except for the
PRODUCT LIFE CYCLE ANALYSIS PAPER
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best surviving companies as the market will not be as attractive as it was in the maturity stage. In
this step, some companies will drop out leaving behind the best companies like Apple when it
comes to smartphones and laptops.
4. Decline Stage: The number of manufacturers was going the market increases during
this stage. The efficiency of a company and product category becomes a factor on whether to
move the market or stay. The product will keep existing on the market if the few remaining
manufacturers can still maintain their profitability, if not the product will become outdated.
Opportunities and Challenges
All companies face some challenges as they run their operations and have their
opportunities along the way. Some of the opportunities are; a diverse technology environment
which establishes a good understanding and focuses on the industry. The world has embraced the
go green strategy. Therefore, it produces environment-friendly products which are a significant
consideration for the company to consider. Apple’s mobile enterprise market is essential to the
development process of the company as it creates a highly diversified operational environment.
Some of the challenges Apple faces about competition, its niche and position in the
product lifecycle are; the company depends highly on the essential production which is the
smartphone brand and pays less attention to the other products (Klepper, 2016). This can bring
about low performance of the company as competitors will focus on their weak areas and
produce stringer products which will put them down in the product lifecycle.
The company faces a very stiff competition from other companies like Samsung as well
as Microsoft. These companies have made Apple has reduced revenues as they are shared among
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the different groups in the market as well. Apple system users have been isolated from other
users as the products have excellent systems which happen to be incompatible with many
different methods. This reduces their revenues as some users would opt for systems that are
compatible with other systems. Apple Company is among the leading companies in the
technology industry, however for its products like the iPhone X to remain in the product lifecycle
until the decline stage some aspects must be taken into consideration.
PRODUCT LIFE CYCLE ANALYSIS PAPER
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References
Anderson, C. R., & Zeithaml, C. P. (2016). Stage of the product life cycle, business strategy, and
business performance. Academy of Management journal, 27(1), 5-24.
Klepper, S. (2016). Entry, exit, growth, and innovation over the product life cycle. The American
economic review, 562-583.
Linzmayer, O. W. (2014). Apple confidential 2.0: The definitive history of the world’s most
colorful company. No Starch Press.
…
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