1.
Compare services to products, and examine
the difference and/or similarities in their branding process.
The obvious difference is that
products, for the most part, are a sum of tangible features meant to satisfy a
functional purpose and need, whereas a service, though meant to satisfy a need
as well, is intangible, emotional, and generally experiential. (Hameide
178-179) They have to be branded differently because one thing you can
physically sell and the customer can touch and see the product before they buy
it. When it’s a service they cant brand it the same because its more by how you
sell it to the customer and if they believe in what you are saying.
2.
Define retail concept, and
briefly discuss its role in the positioning strategy of a retail brand.
The retail
concept is the business model and retail philosophy adopted by the brand. (Hameide
181) When brokendown it is the merchandise, location, price range and service. Its a lot like the
four ps. Every brand has a different retail concept and that’s what makes them
different.
3. What are the advantages and disadvantages of franchising
as a global growth strategy?
Franchising simply refers to a
retailer (the franchisor) offering a store owner (the franchisee) the rights to
emulate the retailer's business model or system of conducting his business.
Thus, a series of stores can be opened with a consistent concept, look, and feel
throughout all franchised stores. (Hameide 206) Some advantages would be
the growth of your company across the world and exposure to increase your brand
awareness. Some disadvantages would be lack of control and damage to the brand.
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