SMC103Y1 Lecture Notes - Laity, Consumerism

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pucecod518

16 May 2012

School

UTSG

Department

St. Michael's College Courses

Course

SMC103Y1

Professor

G O W A N

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A question of culture: human culture, honoured role in the complete vocation of humanity (gatium et spes) Branded: constant brands trying to get our attn also on money, exposed to 16 000 different brands a day, cult branding. Cult branding is about belonging, making meaning. Brands set out to fill the empty places where non-commercial institutions like schools and churches might once have done the job. We are never satisfied, the intention of branding is to draw us and then seek us further; we buy something that draws us in but then when the software is updated we wanted again but with more involved. Mary jo leddy: layperson, political activist, founder and director of romero house in high park, writer.

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IBM is the most valuable B2B brand of 2014 with a brand value of $107,541 million, according to The âBrandZ Top 100 Most Valuable Global Brands Study commissioned by WPP and produced by Millward Brown. The article puts Microsoft in second place, with a brand value of $90,185 million, followed by GE with a brand value of $56,685 million. Interestingly this is the biggest difference between two brands placing next to each other.

Comment on the following statement from that article âFrom a branding point of view, B2B is still often seen as less glamorous and less important than its radiant consumer facing sister. Iâve always found this surprising given that branding is crucially important in the world of B2B where competitive advantage and differentiation is so difficult to establish, let alone maintainâ.

Why is B2B branding so undervalued given the success of companies like IBM, Microsoft and others?

goldcoyote622

few years, British Sky Broadcasting has transformed the way people in Britain watch and use their television. Before Sky, people could never have imagined ordering a pizza or sending an email from their set. Today it's an accepted thing.

Part of Sky's success has been in its brand - in defining what makes Sky special and in expressing that difference visually, in products and in the actions of people in the company. And that brand has become one of the company's greatest assets. Brands help companies build a relationship with a customer. A good brand not only helps differentiate a company, it also helps the customer feel something as a result. A pair of Nike trainers might make a person feel more fashionable. A Sony minidisc player might make a person feel they are at the cutting edge of miniature technology. A Rolls Royce might make a person feel that they have reached the top.

Some brands even go beyond that and become so well known that they become generic. This means they're used as a general term for that type of product, even if it's a competitor's product. Walkmans, and Hoovers are a good example. People Hoover the carpet, even if they're really using an Electrolux.

A brand helps customer recognition and enables recognition to be spread by word of mouth as well as by advertising. A brand also adds value. It can allow a company to offer its products at a premium, without reducing the customers' perception of value for money. It also allows a company to extend what they offer to the customer - if a customer trusts one product from that company, they are more likely to trust (and buy) another product from the same company.

That is why Sky has invested so much in its brand. As the first entrant 16 years ago in the field of multichannel television, it had the opportunity to build strong recognition and to even establish itself as the generic brand for multichannel television.

Source: (viewed 10 February 2019)

QUESTIONS

1. In the above article, "if a customer trusts one product from that company, they are more likely to trust (and buy) another product from the same company". Discuss different ways that companies can use to increase brand loyalty. Justify your answers with relevant examples. (5 marks) (500 words)

2. In the above article "brand has become one of the company's greatest assets". Do you agree? Justify your answers with arguments and examples. (5 marks) (500 words)

redcaribou169

1. Evaluate what banking services are most important to you with a score of "10" for the most important and "1" for the least. You must score a commercial bank, savings institution, credit union, and two other institutions from 1-10 on what is important. Then with the five institutions with respect to the services offered, rate the institutions from "5" as the best for that service to "1" as the worst. Two parts: Rate the services from 1=10 and rate the institutions from 1-5 with the services that are offered. The template will calculate scores for each institution. Banking Services Scorecard COMMERCIAL BANK SAVINGS INSTITUTION CREDIT UNION INSTITUTION 4 INSTITUTION 5 SERVICES OFFERED PRIORITY RANK SCORE RANK SCORE RANK SCORE RANK SCORE RANK SCORE 1. Hours of operations - evenings, Saturdays 2. Locations - proximity to work and home 3. Fees/Minimum balance for checking accounts 4. Fees for ATM usage 5. Interest rate on savings accounts 6. Interest rate on checking accounts 7. VISA/MasterCard available and annual fee 8. Interest rate on home loans 9. Interest rate on car loans 10. Safety deposit boxes and rental rates TOTAL SCORE FOR EACH INSTITUTION Decisions 1. Describe the services and characteristics that are of prime importance to you in a financial institution. 2. Which of the financial institutions you evaluated is most optimal for your needs? Why?

I wanted to use PNC Bank, Metropolitan Savings Bank, any credit union, Charles Swaab for an institution and any other kind for the fifth institution. Have to rate the 5 from 1=10 with the 10 services listed and Then with the five institutions with respect to the services offered, rate the institutions from "5" as the best for that service to "1" as the worst Please answer these questions Describe the services and characteristics that are of prime importance to you in a financial institution. 2. Which of the financial institutions you evaluated is most optimal for your needs? Why?

SMC103Y1 Lecture Notes - Laity, Consumerism

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