Product Design and Development Management [Brand creation and Essay

Product Design and Development Management [Brand creation and development] - Essay Example Karl Speak even argues that marketplace position and intimate relationships are today valued above profitability. The present â€Å"information age† has turned consumer culture development and brand relationships as the new â€Å"best practice† in business (49). What makes branding an important marketing tool, is that â€Å"the brand image is enduring in the minds of the customer† (Montague 17). Branding is a powerful instrument to counteract market negative pressures, because branding makes companies, products and services visible and distinct; it prolongs products life cycles, and allows companies to sustain costs and prices to levels that are less dependent on competition. Developing a strong brand identity that is consistent with corporate strategy is therefore the recipe for long-term success. Brand identity refers to the degree a product has achieved a distinct image in the eyes of consumers and the general public (Schmitt et al 83). â€Å"It’s corporate strategy made visible.† (Peters 11). Brand identity is closely related to customer impressions, meaning the image a product or a company actually has, as opposed to product or corporate expressions, meaning the image that is desired (Schmitt et al 84). Often companies produce positioning statements that describe how the brands should be positioned in the minds of customers. These statements are the backbone for branding strategies that attempt to minimize the gap between desired brand image and actual identity. Brands make promises for unique product experience. Delivery of those promises is therefore crucial for creating lasting impressions and loyal customers. The brand management profession commands a range of tools for successful brand development. These are graphic standards, conformity to corporate identity, marketing communications sending consistent brand

MS Excel Essay Example | Topics and Well Written Essays - 500 words

MS Excel - Essay Example Since the decisions that managers make are based on data presented to them, the value of Excel is undoubted.. However, in order for managers to understand what the data they have implies, they must make use of analysis tools. Microsoft Excel provides them with such tools. In Excel, managers find different analysis tools particularly those used for statistics. Hypothesis testing is one are in which Excel may be employed. The program offers several functions that may be used for hypothesis testing. Such functions include the Chi-square, t-test, z-test, as well as other statistical analysis tools that are most often used to test certain hypothesis. Simply put, a manager can make decisions that are hinged on sound and logical analysis that he or she performs through Excel. Decision making involves the interpretation and analysis of data. Utilizing Excel, managers can perform several types of analysis that are usually employed. These include regression analysis, statistical analysis, and trend analysis. With Excel, the manager has an efficient and time-saving tool to aid his decision making process. The survey should merely aid the company in understanding their workforce better. However, in no way must its results be used to profile the future hires of the company as well as for the ideal employee of a company. Since the respondents in the survey came from different companies, their lev