Essay Example | Topics and Well Written Essays - 2000 words - 11

Essay Example Not especially the nature of brands and how consumers perceive them. With the combined efforts of the academe and the corporate world, the art of creating Brand Equity has been greatly helped, almost to the point of evolving a specific science for marketing success, or so it seems. This report will attempt to summarize the points articulated on the Philip Kotler and Kevin Lane Keller’s definitive reference text â€Å"Marketing Management (13th edition)†, specifically on the chapter of Building Strong Brands. This discourse will venture into the basic elements of a brand from the perspective of the brand â€Å"owner or author†; the nature of the benefits which brands are supposed to provide; observations on how marketing outcomes are determined by the consumers perception of the brand (brand equity) and how they are arrived at; how a brand’s value can be assessed and quantified; an analysis of branding strategies through the cases provided in the text, and the role of different brands in an established brand â€Å"architecture† (brand portfolio) and how consumer responses can be similarly assessed so as to provide a measure of confidence that a brand can expect from its prospective patrons (consumer equity). We can do well to use the American Marketing Association’s definition of a brand as a jumping board for analyzing the concept of Brand Equity. AMA stipulates that brands consists of a â€Å"name, term, symbol or design, or a combination of them, intended to identify goods or services of one seller or group of sellers and to differentiate them from those of competitors.† (Kotler and Keller 276) Further, this system for identifying products (or services for that matter) maybe designed so as to represent a tangible, functional or rational attribute relating to a product’s performance or any intangible associations such as those that are implied symbolically

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Pick on topic from my uploaded resources - Assignment Example Economists determine recession with the help of some conventional Macroeconomic indicators like Investment Spending, employment, business profits, capacity utilization, household income and inflation. If the general level of all these macroeconomic indicators is falling, then the economy is most likely to encounter recession. It is pertinent to mention here that as the level of these indicators fall, the level of unemployment and bankruptcies rise on the other hand. The two most important factors that have significant importance on levels of recession are Unemployment and Inflation. In the time of 1930s, when our world encountered Great Depression, most economies of the modern world like Germany were facing hyperinflation. Inflation exceeding the boundaries of Galloping Inflation can make the economy go down thousand times faster .Moreover, inflation accompanying unemployment causes the economy to collapse completely. Recession can be controlled by implementing different policies and by triggering different factors. Countries usually try to overcome recession by announcing sound and stringent Fiscal and Monetary policies. Interest Rates are raised and unemployment is eradicated with the help of different schemes and policies. We know that the global oil market is a complete oligopoly being run by a few powerful oil exporting countries and consortiums. The oligopoly of oil Market is very strong because of the fact that the International demand for oil barrels is relatively inelastic. Due to this reason, leading oil exporting countries have taken the market completely and are running the market according to their own terms and conditions. This type of competition in the global oil market has made the prices inflexible. With the fact that the prices of many other things are dependent on the rates of oil which is being obtained from the global oil market, therefore, oil being a complementary good controls the pricing