Date: Feb 25 ‚2012 To: Tiger Balm management From: XXXX RE: Analysis and recommendations of the existing marketing strategies Tiger Balm is a well-known herbal ointment remedy that was developed to relieve the aches and pains in ancient China. It is a very successful example of a truly Asian brand that has gained international recognition. It has created a high degree of awareness and loyalty in global markets. I have evaluated the strengths and weaknesses of your company’s existing marketing
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better marketing communication‚ and the opportunity to license your brand. To achieve this marketing miracle you will need to follow the four steps in the CBBE model. The four steps in the CBBE model are brand identity‚ brand meaning‚ brand response‚ and brand relationships. You must follow these steps to establish brand equity but the CBBE model also depends on six brand building blocks and they are salience‚ performance‚ imagery‚ judgment‚ feelings‚ and resonance. These are what are in the brand
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THE PROCESSES OF BUILDING BRAND EQUITY This paper combines the conceptual framework of customer-based brand equity (Keller‚ 1993) and six-stage model of brand evolution (Goodyear‚ 1996) to develop the processes of building brand equity. Focuses of brand equity building are suggested for each stage. Key words: brand equity‚ brand knowledge‚ brand evolution INTRODUCTION Successfully building‚ managing‚ and tracking the brand equity of brands are main goals of brand management. The brand strategies
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Tiger Balm Question 1 Product mix refers to all the products an organization sells. All Tiger Balm’s products-ointments‚ p Question 2 In order to tap into a new market‚ the approach used by Tiger Balms to organize its products in its communication to its customers by advertising its products using non-traditional forms of media such as YouTube and Google to appeal to American customers. Tiger Balm also features its products in drama series shown at prime times such as 7pm and 9pm to attract
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Customer Based Brand Equity Model Assignment#2 Submitted By: Unaiza Khan ID # 14388 Dated: 1 Oct’ 2014 ASSIGNMENT#2: CUSTOMER BASED BRAND EQUITY MODEL Branding Strategies: Marlboro is known to be the world’s best selling Cigarette brand in the World. It was the first cigarette brand which was launched in 1904 almost 110 years back from now by the parent company Philip Morris International. Their Branding strategies should be more focused on Design
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CASE D-6 TIGER BALM : WORKS WHEREVER IT HURTS . Case Summary Tiger Balm – a brand that millions use worldwide for quick‚ effective relief to body aches and pains. With its unique formula or herbal ingredients derived from ancient Chinese sources‚ this topical ointment has evolved from its humble origins to become a household name in close to 100 countries. Tiger Balm was known to soothe and relieve aches and pains‚ lives up to its slogan‚ “Works wherever it hurts”. With a vision to sell and
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L’Oreal’s Customer- Based Brand Equity (CBBE) Model customer-Based Brand Equity is defined as the differential effect that brand knowledge has on consumer response to the marketing of that brand. The Customer-Based Brand Equity Model approaches brand equity from the perspective of the consumer – whether this be an individual or an organization. Understanding the needs and wants of consumers and organizations and devising products and campaigns to satisfy them are at the heart of successful marketing
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Mercedes-Benzes’ brand strength MB’s brand is evaluated along the line of the CBBE pyramid. Which consists out of two sides the “left” and the “right” side‚ that stand for the rationale and the emotional route respectively of the brand equity creation. What makes a strong brand‚ is that both routes are incorporated into the brand building process. How this relates to MB is defined below. [pic] Keller‚ (2013) The resonance model 1. Salience‚ is defined by the depth and the breadth of the brand
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Salience: Cadbury enjoys a very high brand salience on the whole. It enjoys a high recall while dealing with the areas of brand name recognition and brand name recall with consumers instantly linking it with its trademark purple colour. Yet its “Glass and Half Full” symbol attains moderate brand recognition. (The marketing research was done through an informal poll among 70 students asking them: 1) Name a chocolate brand‚ 2) What chocolate brand do they think of when the colour purple was
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CBBE Pyramid Powerful brands create meaningful images in the minds of customers (Keller‚ 1993). A strong brand image and reputation enhances differentiation and has a positive influence on buying behaviour (Gordon et al.‚ 1993; McEnally and de Chernatony‚ 1999). A brand is a bundle of functional‚ economic and psychological benefits for the end-user (Ambler‚ 1995). Brand equity‚ as defined by Keller (1993)‚ occurs when a brand is known and has some strong‚ favourable and unique associations in a
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