EOC Chapt 7 Questions

1. Given the discussion on mass customization, the model seems to hold new opportunities for young entrepreneurs considered to establish a new business. Highlight the advantages and challenges of the model from an entrepreneurial perspective

"Accordingto this definition, mass customization gives consumers an option to customizefeatures of a product, given that it is based on a mass-produced structure or frame". An advantage would be being able to customize any product to your liking. An example would be Nike and their customization system on their website. A Disadvantage would be producing many different products in one day which can possibly take time to get that product out.

2. Compare the way luxury and mass-market brands adopted the new technologies. What are the opportunities and challenges that each segment may encounter?

A luxury product is more about being exclusive and having one product that no one else has and cannot have and usually has a service and time period. "This service differs from the previous two services by including a designing stage that takes two to four weeks to create a design based on the customer's requests. Italso comes with a much higher cost and could take up to 12 months forcompletion". A mass market brand is targeted towards many people in department stores or high end boutiques. It is accessible to anyone at any time.

3. Based on the chapter arguments and your personal analysis, how would you interpret the term iBrand?

Reading the book it said “the iBrand name we created for this chapter is inspiredby the trend of terms prefixed with the letter “i' that was initiated bycomputer guru Apple and adopted by others (Apple's iPod, iPhone, ImaginePublishing's iCreate, and CNN's iReport, among others)” It my understanding the ibrand would be working together with technology to provide a new service and product. An example would be using an app that a retail store has provided their services and products. Usually they will offer exclusive discounts and coupons through the apps that will get a consumer to come shop. It can also be interacting with the brand or the brand process which can also be like the Nike System.

EOC Chapt 8 Questions

1.      1. How does technology redefine the role of the end user in the branding process?

“TECHNOLOGY plays a direct role in redefining habits and values, and thus reshaping cultures”. “The user is the drive and inspiration behind the brand, and it is the user who eventually decides on the brand's positioning through the image he or she creates for it”. The customer will be the one that directs the branding process. If a consumer does not like a product he or she will give her opinion on a product which will then start the process for another product that will be sold. Consumers will always be a part of the branding process and will help the company design new ideas that will be interesting to the consumer’s eyes.

1.       2. How does the concept of experiential branding relate to the branding process as described in Part 1?

It relates to part one because they involve the customer and providing that customer experience that usually depends on the brand. An example would be using a person to experiment with a brand before introducing the brand to the public. It always involves the consumer for ideas and understanding for the brands process.

“EXPERIENTIAL BRANDING is “the discipline of understanding and defining brands in terms of the way they are experienced, in order to differentiate them in the most powerful dimension: relevance (nothing is more relevant than an experience)”.

 

3.  How do microbrands compare to corporate brands and brand extensions?

“Brandextensions are about creating new and totally different products under the samebrand, but here the newly created products share a commonality of purpose”. A microbrand will usually be part of the major brand called the mother but with a distinct difference or altered look. I used Nike as an example in various questions and I will use it again to understand what a microbrand is. Nikes customization system allows to create your own shoe which would be the microbrand. If you were to buy a show from Nike without customization that would usually be part of the mother brand. All three brands  are usually the same thing but with a different customization but they all have the same purpose to sell to the consumer.