Marketing



Marketing

Introduction

The purpose of this paper is to discuss LivingSocial case study with respect to the Aaker's Ten Guidelines for Building Strong Brands. LivingSocial's idea behind its products lies within the fact that the company focuses on providing the ultimate experience of consumers by knowing their preferences. LivingSocial used online promotions as its promotion variable which turned out to be a huge success in the youth. Aaker presents the 10 commandments of strong brands, so to strengthen the value chain. Aaker explained that the primary distinction between the marketing of the contemporary period and the primitive times lies in the accentuation on the branding. The current phenomenon entails that the astute employment of the strategies and the development of branding plays a significant role in either making or totally breaking the image of the desired product, in the minds of the targeted consumer (Kevin, 2003).

Analysis of Livingsocial Case Study As Per Ten Guidelines for Building Strong Brands By Aaker

1. Brand Identity. Aaker suggests the organizations to modify the identity as needed for different market segments and products. Remember that an image is how you are perceived, and an identity is how you aspire to be perceived. For the LivingSocial it is essential to first properly formulate the appropriate brand strategy that the firm wishes to undertake for its respective potential brand. The development of the strategies for the brand compels the organization to evaluate and assess its business first, its operations, its message to the consumers, and marketing liberty at disposal.

2. Value Proposition. It should play a leading role by considering the emotional and functional benefits. It provides supports to brand credibility and help marketers to understand the brand-customer relationship. It is vital for the LivingSocial to align its brand image with the needs and desires of a target market by utilizing the “four P's” (product, price, place, and promotion). The combined success of these factors determines brand strength, the degree of loyalty or attachment customers feel toward the brand. There are a number of related concepts that have been summarized with the use of some of the key principles of brand equity. According to Aaker's branding principles, LivingSocial's brand must be necessarily intertwined with a product(s), but it is different because there is a consumer investment over time. Brand equity consists of the incremental, added value qualities that synergistically combine in the minds of consumer. A brand may be a product, but it can also represent an organization through the creation of a unique identity (Aaker, 1990).

3. Brand Position. Each brand must have a position which provides clear guidance to those implementing the communication program. The position is part of the identity and value proposition, so it must be actively communicated. Finally, effective communication between providers and to design ads that traders have helped creates the motivation to implement the brand strategy for success. The vision of the brand needs to be broadened. LivingSocial's brand identity must be shaped in an active and future oriented ...