MKT 505 WEEK 6 DISCUSSION - 85228

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Discussion board 6-1. Global Brands. Please respond to the following: 1. Research to find a list of the top global brands. Select a brand and speculate on the main reasons why the rank of this brand is a top global brand. 2. Discuss a strategy that the brand should implement to prevent its strongest competitor from stealing market share. 3. Discuss the main reason why consumers purchase generic brands. 4. Name a generic branded product that you purchase and the major reason why you chose to purchase that brand over the national brand Discussion board 6-2. Pricing Strategies/Dumping. Please respond to the following: 1. Briefly describe market skimming and provide a scenario of when it might be best used. 2. Briefly describe penetration pricing and provide a scenario of when it would be best used. 3. Briefly describe extension or ethnocentric pricing and provide a scenario of when it would be best used. 4. Briefly describe adaption or polycentric pricing and provide a scenario of when it would be best used. 5. Briefly describe geocentric pricing and provide a scenario of when it would best used. NOTE: MORE THAN ONE ANSWER POSTED FOR EACH QUESTIONS AS A BONUS JUST CHOOSE ONE
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DISCUSSION 1

 

1.       Research to find a list of the top global brands. Select a brand and speculate on the main reasons why the rank of this brand is a top global brand. Samsung is one of the top brands globally today because the brand continues to reinvent it’s products surpassing brands like Sony, and Apple just to name a few. Samsung a Korean company reengineering it’s televisions and phones by doing an amazing job transforming the look and functionality of each of it’s products creating additional global attention and increasing sales. Sony fell because they were not able to keep up with technological innovation. The brand began to lose strength because of this, and Samsung innovation developed with the company using it’s resources to build design centers around the world. Samsung has design centers in India, Poland, and Europe today. The price is fitting for every household and the products value is well worth the cost on the label. The company’s smart phone has also one of the best-selling products today and compared to the Iphone (Apple) although in my opinion the two are neck and neck, I will just say that the Samsung galaxy revenue has increased since Apple’s Iphone 5 and the company lost of it’s founder Steve Job’s. Keep in mind there are a tone of other products that Samsung creates. “ Apple isn’t the only competitor posing a threat to Samsung, according to other research firms. Data from Canalys indicated that during the first quarter, the Korean electronics giant’s market share declined from 20% last year to 18%. Meanwhile Chinese competitors Xiaomi and Lenovo Group Ltd. (OTCMKTS:LNVGY) (HKG:0992) saw their shares of the market increase”.

 

 

2.     Discuss a strategy that the brand should implement to prevent its strongest competitor from stealing market share.

Make sure patents is in place each year when a new release is presented to the consumers to protect it’s technology from theft. This way the company is protected in the court of law if it goes that far. Also a Intellectual property in place will protect the company. This is a law combines with the copyrights law.

Having a privacy act, have a policy for ethics, product quality each of these policies and laws will create protection for the company.

 

3.     Discuss the main reason why consumers purchase generic brands.

The reason consumers will choose a generic brand of a smart phone is because a phone is given them everything needed except one or two functions they can do without. Price would be the other reason a consumer would gravitate to a generic brand.

 

4.     Name a generic branded product that you purchase and the major reason why you chose to purchase that brand over the national brand. I went through my house trying to figure out a generic brand I use over global brand and I could not find anything. The only thing I could think of is whenever I give a party instead of buying Coca-Cola or Sprite I will buy several generic brand soda’s for the party because I will get more for the money and offer my guest the opportunity to drink as much as they would like without hoping I have some left over for another day. 

 

http://www.forbes.com/sites/allenadamson/2013/07/10/the-top-three-thin

 

http://www.valuewalk.com/2014/07/apple-inc-steals-smartphone-market-share-from-samsung/

OR

1.        Research to find a list of the top global brands. Select a brand and speculate on the main reasons why the rank of this brand is a top global brand.

 

Samsung a South Korean business was ranked #4 of the top global brands out of “The Top 100 Brands Ranking”. For the very first time, this valued $329 billion 186.47 billion conglomerate  was ranked as one of the "Top 10 Global Brands." with Google, Apple & Microsoft leading the way. For over 70 years, Samsung has been involved in diverse businesses: advanced technology, semiconductors, skyscraper and plant construction, petrochemicals, fashion, medicine, finance, hotels, and more. Samsung Electronics, leads the global market in high-tech electronics manufacturing and digital media. Through innovative, Samsung is taking the world in imaginative new directions.

 

Samsung’s association with the Olympics helped the company increase its brand visibility and brand recall among its consumers worldwide. In addition, Samsung formed several marketing alliances with companies worldwide and sponsored events to enhance its brand awareness and offered new products lower than the market price while maintaining its standard and quality. Another part of Samsung’s success was its openness…the company opened up and recruited employees from a global pool of talent bringing in talent from various countries, making these people work together at one table designing the best product. This trend boosted the company’s perception and made it a global brand among the consumers. The strategy paid off and in the past five years, it has achieved the biggest gain among major brands, even surpassing Sony.

 

Successful branding is all about establishing a long-term vision and crafting the company’s operations t

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