Difference between Branding and Brand Equity Essay Example for Free

Difference between Branding and Brand Equity Essay â€Å"Though no one can go back and make a brand new start, anyone can start from now and make a brand new ending†. (Bard qtd. in. ThinkExist. com) This quote shows one fact that the process of ‘branding’ is endless. Because, simply, when ‘brand equity’ is known or measured, the brand could be protected and managed properly. This essay aims at giving an overview of the ‘branding’ and ‘brand equity’ terms or concepts to show the difference between both of them. And due to the fact that â€Å"both terms are usually defined around the concept of adding value to a product (or service)† (Binnie 17), it could be hard for some people to differentiate between both of them. That’s why the best approach to realize the difference between ‘branding’ and ‘brand equity’ is to dig and search in the literature to define both terms to know what is meant by each one of them. However, before separating each term from the other -to know the difference between both of them-, let’s move to the real world to have an idea about a simple fact concerning a certain brand (Coca-Cola in this case). This interesting example –mentioned by Blackett- deserves to be mentioned here to realize how important a brand could be for a company. â€Å"By mid-2002, Coca-Cola Company’s stock market value reached $136 billion, while the business net asset value (the book value) was only $10. 5 billion†. (5) The interesting fact here is when we add this information to the fact that: â€Å"The value of Coca-Cola brand for the same period (mid-2002) was estimated by $70 billion (over half of the $136 intangible value mentioned above! . † (Blackett 5) Then, after realizing the importance of ‘branding’ to the company in the marketplace -in the previous example-, it’s time to know what is meant by both terms, ‘branding’ and ‘brand equity’. First of all, a ‘brand’ is defined by the Dictionary of Business and Management as â€Å"a name, sign or symbol used to identify items or services of the seller(s) and to differ entiate them from goods of competitors. † (qtd. in. BuildingBrands Ltd. ) However, a ‘brand’ is more than a name, a sign or a symbol. In another word, this definition is not sufficient to describe the term ‘brand’. Grimaldi gave a better definition for the term ‘brand’ as â€Å"a combination of attributes, communicated through a name, or a symbol, that influences a thought-process in the mind of an audience and creates value. † And this is what Blackett assured when he mentioned that â€Å"the visual distinctiveness of a brand may be a combination of any of the following: name, letters, numbers, a symbol, a signature, a shape, a slogan, a color, a particular typeface. (3) Also, Davis (2) defined the ‘brand’ term as â€Å"all the promises and perceptions that an organization ‘wants’ its customers to feel about its product(s) and service offerings. † (2) Now, moving to the ‘branding’ concept or term, according to Davis (1), ‘branding’ is a complex ‘process’, but its goal is simple: it is the creation and development of a specific identity for a company, product, commodity, group, or person. † (3) Grimaldi mentioned an interesting definition for ‘branding’: The blend of art and science that ‘manages associations’ between a brand and memories in the mind of the brand’s audience. † And this blend â€Å"involves focusing resources on selected tangible and intangible attributes to differentiate the brand in an attractive, meaningful and compelling way for the targeted audience. † Now, after understanding what is meant by both ‘bra nd’ and ‘branding’ terms, it’s time to know what is meant by ‘brand equity’ term or concept. The ‘brand equity’ concept â€Å"emerged in the early 1990s†, (Tuominen 96) and introduced in marketing literature in the 1980s† (Rajh 1) and before mentioning definitions of this term, it is necessary to realize that â€Å"brand equity is the key to understanding the net impact of marketing† (Reynolds and Philips qtd. in. Binnie 16) According to Hoeffler and Keller, â€Å"most definitions of brand equity rely on ‘brand knowledge’ structures in the minds of consumers –individuals or organizations-† (421 qtd. in. Binnie 17). And Pullig gave a simple definition to the term ‘brand equity’ as â€Å"consumer brand knowledge†. Keller also defined the ‘brand equity’ term as â€Å"the ‘differential consumer response’ from ‘knowing’ the brand†. (qtd. in. Binnie 17) According to Keller and Kevin, ‘brand equity’ is â€Å"the value of the brand in the marketplace† (qtd. in. Pullig). McDonald added another dimension when she defined it as â€Å"the stored value built up in a brand which can be used to gain ‘market advantage’† (2). So, after studying these definitions, it is obvious -as Tuominen mentioned- that â€Å"there are three key ingredients in the ‘brand equity’ definition and they are: (1) brand knowledge, (2) differential effect, and (3) consumer response to marketing. † (75) Finally, according to these definitions, it is obvious that (1) ‘branding’ is the process of creating, developing, protecting, and managing the special identity of the product, or the ‘brand’ (to differentiate it in the marketplace) and it is not only marketing effort, it includes all the companies efforts to build this differentiation; (2) the ‘brand’ is the end result of that process or the combination of all the tools used to create this special identity of the product; and (3) the ‘brand equity’ is the ‘feedback’ of the ‘branding’ process or the key to measure, assess, or weigh the end result ‘brand’ –as we saw previously in the Coca-Cola example- and compare it with what is desired or planned in the ‘branding’ process. In another word, ‘brand equity’ will show whether the ‘branding’ process and other marketing efforts (or even public relations) are on the right track or not.

Enlightenment through Reading Great Literature Essay -- Literature Ess

Enlightenment through Reading Great Literature Great literature has created controversy, enlightenment, and has perpetually stimulated the imagination of readers everywhere. The ability to learn from past experience that crosses religions, races, and times helps separate the great literature from the "chaff." A good, entertaining story is not enough to produce a truly great and enduring work. Great literature is characterized by its ability to retain value in truth and entertainment even though changing culture. The influence of great literature has been a legacy of the human race for 1000's of years. Arguably the most influential of books is the Bible. It has been a top seller for almost all of eternity. However, it certainly isn't only the great stories or excitement and adventure that keeps people coming back to great literature. As with the Bible, it's the ability to pick up a book and learn a lesson that may have taken someone their entire lifetime to learn and apply it to your life. This ability to gain insight into the problems and past debates of morality...

Submit and Syllabus

Facts:-During fall 2012, Simpson submitted a Syllabus Acknowledgement. -Course syllabus contains information about course requirements, grading procedures, and late or missing assignments. -Course syllabus informed students that Assignment 10 was due no later than 12pm, November 2, 2012. -Simpson turned in assignment at 12:31pm on November 2, 2012 -Professor Skinner reduced Simpson’s grade from 100 to 85. -Simpson had not asked for additional time to complete the assignment.Professor Skinner admitted he would have given an extension had Simpson asked for one. Issue: Does Professor Skinner have the discretion to deduct an arbitrary number of points from a late assignment? Holding: Yes, Professor Skinner does have the discretion to deduct an arbitrary number of points from a late assignment. Reasoning: The court cited that the fact that Simpson neither read nor understood the Syllabus Acknowledgement is irrelevant. Simpson signed and submitted the Acknowledgement. Therefore Simp son agreed to follow the course requirements.He the violated those terms by knowingly submitting his assignment late. He is subject to a penalty for submitting his assignment late. Simpson should have been aware of his rights and duties as a student. Since he knowingly submitted his assignment late and/or failed to request additional time, Professor Skinner had the authority and discretion to impose the 15 point penalty. The course syllabus states that â€Å"assignments are due on time. Late points may be applied at the instructor’s discretion. † (Syllabus, p.2)â€Å"Students may submit requests for extra time. If granted, the instructor cannot deduct late point. † The Syllabus Acknowledgement states, in plain English, that by signing and submitting the Acknowledgement the student avows that he had â€Å"read the syllabus and agrees to all the course requirements. † (S. A. p. 11) Simpson admitted that he submitted a Syllabus Acknowledgement without readin g it. The syllabus does not limit the instructor’s discretion in any way, therefore it is the decision of the court that the grade of 85 is upheld.

Pox Americana Book Review Essay - 820 Words

Smallpox is an extremely deadly disease which, in one point in time, was the most feared disease on the planet. In the book Pox Americana, Elizabeth A. Fenn writes about the encounter with the deadly disease in the 1770s to the 1780s. Her book was first published in 2001 in New York City, where she originally wrote it. Her book contains just under 400 words that explain the disease, some of the first encounters with it, who and where it affected people, and how they got the epidemic under control. Pox Americana is a very informative book that teaches the reader various things. The tendency of Pox Americana is to inform the reader that the smallpox epidemic was not just the common cold, but rather it was a deadly disease that affected†¦show more content†¦The book either presents clear, honest facts, or states that they are merely estimates. The story consists of informing the reader, not arguing a point or discussing a controversial topic. It is merely informing the reader of a once common disease that has come and gone. One of my main objections that I have with this book is that it doesnt present enough of a point of view. It is sort of like a bad research paper, without an opinion, it is simply an organized sheet of facts. Although I wouldnt call this book terrible or a failure, I would call it incomplete. It gives the feeling of reading an encyclopedia, but with more interesting details. It is understandable to have a weak opinion in an informational book, but no opinion at all is scarcely acceptable. An additional objection that I had for this book was that in some parts, it failed to narrow in on where the setting was. At some points, it would simply state an island, or maybe just a city name. As readers, we cannot be expected to know where these places are or what country they are in. As an author, she should have clarified these details better. By reading Pox Americana, my conception of the historical period circa 1780 has changed immensely. Before reading this book, when somebody would mention that period of time, I would automatically think about the early stages of government, diseases and illnesses never came up in my mind. Now, the book has informed me of far more things to think about. Instead ofShow MoreRelatedThe History of American Literature3501 Words   |  15 Pagesthe 18th century. His Magnalia Christi Americana (The Great Works of Christ in America, 1702) is a history of New England that celebrates the founding generation of Puritans. Like his earlier works, it is religious; however, its interest in the human side of the Puritan founders marked a new achievement in American literary history. Mathers rewarding career included writings on science and medicine as well as theology and history. His Sentiments on the Small Pox Inoculated (1721) was instrumental in