BRAND IMAGE

Business practitioners and management experts have explained the term ‘Brand image’ in a somewhat courtly gentleman fashion. Brand calls up feeling of images and perceptions-particularly of style, modernity, class, quality and so on. One can think of Pepsi, Nike, Coke, Nestle, Parker, Raymonds, Adidas, Apple, Rolex, Revlon, Mactintosh, Sony, Google, Philips, Panasonic and we can foretell  such brand would be immediately recognized by majority of persons. A brand image dwells not so much in the product itself but in the mind of the consumer. Really, they are imagined benefits and reflect expectations, beliefs and attitudes surrounding a brand.

BRAND IDENTITY

The concept of brand identity includes three main tasks:

1.      The brand identity system

2.      The brand identity implementation system, and

3.      The strategic brand analysis

COST ANALYSIS

Firms make decisions in their quest for profit. Firms in perfectly competitive industries make three specific decisions.

1.      How much output to supply.

2.      Which production technique/technology to use?

3.      What quantity of each input to demand?

All these decisions are made in non-competitive industries as well. Because firms in perfectly competitive markets are price-takers in both input and output markets, many decisions depend on prices over which firms have no control. Cost functions are derived functions. They are derived from the production function, which focuses on the cost of production. To calculate costs, a firm must know two things: the quantity and combination of inputs it needs to produce its output and how much these inputs cost.

CONSUMER BUYING BEHAVIOUR

It is of utmost importance for the marketer to identify who makes the buying decision, the types of buying decision involved and the major steps in the buying process.  For several products it is not so difficult to determine the buyer as the buying unit involves more than one individual. The marketer has to accept that a set of purchase role exists and enter into play within the family. Different roles can be identified which determine how families make buying decisions.

CONSUMER BEHAVIOUR

Consumer behaviour is a subset of human behaviour concerned with decisions and actions of individuals in purchasing and using products or decisions that lead up to the act of purchase. The behaviour that consumers display in searching for purchasing, using, evaluating and disposing of products and services they expect will satisfy their needs is known as consumer behaviour. 

PROMOTIONAL COMMUNICATION

As a company develops a new product, modifies an old one or desires to enhance sales of an existing product or service, it ought to transmit its selling messages to potential customers. In the present time competitive and volatile environment all marketers communicate with their target markets. Though there in no positive relationship between the promotion and sales but then also it can be said that if promotional programs are aimed at the target customers, and the marketer gains.

BUSINESS PROCESS REENGINEERING

Business Process Reengineering (BPR) is an approach to uncommon improvement in operative effectiveness through the redesigning of important business processes and supporting business systems. It is revolutionary design of key business methods that involves examination of the fundamental process itself. The orientation of redesigning efforts is essentially radical. In alternative words, it is a complete deconstruction and rethinking of business method in its completeness.

ADVERTISING

Advertising management is the process of monitoring campaigns that try to inform and arouse interest in consumers concerning a specific good or service. This process starts with the initial stages of the market research that assists to create the advertising strategy, proceeds to the development of the general framework for the campaign, the formulation of a specific plan of action and the setting in motion of the entire project. In the absence of an effective advertising management, ad campaigns and public relations attempts are likely to stumble and bring little or no results.