Enron Corporate Culture Essay
Bench was founded in the Philippines by Ben Chan in 1987 originally selling men’s jersey in little retail shops. The trade name is registered under the hallmark of Suyen Corporation. The trade name besides grew on supplying ladies’ line. underwear. aromas. house wares. bites. and a broad array of other lifestyle merchandises. Kyle Marco P. de Vera. Justin Andrew Lawrence L. Rigor and Jolo Marco R. Tayag are junior pupils from the Department of Marketing and Corporate Communications in San Beda College AY: 2012-2013. The research workers have every bit contributed to the fulfilment of the research with the aid and advice of Dr.
Jennifer T. Ramos. with the differentiation of being present in virtually every retail infinite in the Philippines. and with a world-wide web of shops and mercantile establishments. making every bit far as the United States. the Middle East. and China. It has besides been a innovator to the usage of famous person subscribers. telecasting. and elephantine hoardings to force for a manner trade name that offers premium quality merchandises at low-cost monetary values in the market. By multiple merchandise line and trade name extensions. Bench was able to travel through demographic divisions such as age. gender. socioeconomic position holding “Bench is forever” as the company’s article of religion.
Emerging as a planetary trade name. Bench has 610 shops worldwide. 67 internationally & amp ; 543 locally. ( Adapted from Bench’s Website ) Turning globally resulted to making new merchandise lines and extensions of the Brand ; known for being an dress trade name. Bench as a product-oriented company have evolved into being a market oriented trade name non merely selling apparels but besides widening to the market’s needs in footings of life style such as nutrient and personal attention. One of Bench’s assuring extensions is Bench Fix. aside from the Fix salon. hair wax is besides one of the commonly sought merchandise today in their offerings.
Many companies or trade name today have been accommodating to the tendencies and demands of the society. by using the trade name that they have established in the market. they make their offerings relevant at the fast changing clip. Product-line and trade name extensions do non merely make new markets but it is besides one of the schemes in maximising trade name equity to last in the competitory industry. The purpose of the survey is to cognize whether Bench is a strong Brand. by measuring its trade name equity. trade name placement and fight in the market and finally do realisations for other pioneered and widening trade name entities.
The research workers got interested with this peculiar survey because they want to detect whether a local trade name of dress like Bench. can be a strong trade name and if it can be every bit appealing as those of the foreign trade names that Filipinos patronize. Operational Framework Input Process Output Figure 1. 1 showed the three variables that have been assessed to cognize whether Bench is a strong trade name. it can be measured through the independent variables. and these are the trade name equity. the trade name placement and how
Bench trades with the competition. The dependent variable is Bench being a strong trade name because it has been the variable topic for consequence. The figure besides displayed the procedure that the research workers have worked on. The research is a descriptive type of survey. Survey was used to garner quantitative informations which had been interpreted by its matching verbal readings. The individual triangulation was intended to look into and equilibrate the consumers’ rating and be able to supplement qualitative informations. Conceptual Framework
This construct was adapted from. which suggested that a strong trade name is manifested through the undermentioned indexs ; Strong Brand Equity. Strong and Clear Brand Positioning. and Competitiveness. The chief job of the survey is to cognize whether Bench is a strong trade name. It specifically seeks to reply these undermentioned inquiries: 1. What is the appraisal of the consumers to Bench’s trade name equity? a. Brand Awareness B. Perceived Quality c. Brand Loyalty d. Brand Association 2. What is the consumers’ appraisal on Bench’s trade name positioning degree? a. Property B. Benefits c. Beliefs and Values
3. How does Bench cover with the competition? a. The comparative strengths and failings of competition. B. The selling schemes of their competition. Premises were used in this survey. The research workers assumed that the merchandise line and trade name extensions of Bench are merely categorized into accoutrements. dress. personal attention. footwear and nutrient that the consumers have assessed in the questionnaire. They besides assumed the determiners used in measuring the trade name placement. The research workers presumed that the close rivals of Bench are Folded & A ; Hung. Mint. Penshoppe. and Peoples are
Peoples. The research workers assumed that Bench is non a strong trade name. The survey will profit local competitory company brands to force for a more valuable merchandise and service to make stronger trade names enabling them to fix for merchandise and trade name extensions so that they can last long in the competitory market. non merely that they will concentrate on their current merchandises and services but they can besides concentrate on the other demands and involvements of the market. This survey will besides be able to supply companies and research workers a footing for measuring whether a trade name is strong or non.
The survey will besides profit Bench. because the survey will be able to supply an penetration with respects to the brand’s current standing and be able to assist them place their bing restraints that inhibit their full trade name development. To the research workers. the survey will function as land for development. as future sellers. This research will be a good foundation for their calling. In this survey they will be able to measure. select. and use carefully theories and constructs that they have learned and to the hereafter research workers. the survey will be a good beginning of information if of all time it will associate to their subject good.
The research workers are anticipating that this will be available to the populace since the current research workers besides had a difficult clip happening local surveies. this will be a good mention for them. Hopefully. the hereafter research workers will be able to better on this survey and besides be aspired to assist other local research workers every bit good. It will besides profit the consumers. with the survey conducted they will be able to larn and research more of a brand’s offerings in the market. With more picks. fluctuation in the trade name. it will probably better their purchasing behaviour as to how they manage their life style of choice and ingestion.
The range of this survey was limited on the appraisal of the indexs of a strong trade name. which was adopted from Armstrong and Kotler. viz. ; trade name equity. trade name placement. and how a trade name trades with competition in the market. The research workers were merely focused on Bench as capable. With respects to the quantitative information. there is an ideal figure of one 100 ( 100 ) respondents composed of purchasers and nonusers of the trade name to avoid conditional sampling ; For the qualitative information. one ( 1 ) of Bench’s trade name director and one ( 1 ) trade name director of Bench’s rival has been
interviewed. peculiarly Folded & A ; Hung. Because the survey is merely good for continuance of five ( 5 ) months. it has to run into with the researchers’ convenience. The research workers are bounded by clip fiscal trouble. respondents and deficiency of expertness. Review of Related Literature Building a Brand. a Strong One Brands play an of import function in the buying determination of the merchandise or service. Companies set up a trade name chiefly because they want to be considered a mention for clients when buying or availing merchandises and services.
Like what have said in their survey. trade names act as stenography in the consumer’s minds so that they do non hold to believe much about their purchase determination. Bing a mention supplier. the trade names are the interface between consumers and the company ; on the other manus consumers are capable to perpetrate to trade names. Since trade name is a bunch of functional and emotional values that promises a alone welcome experience ( Chang & A ; Liu. 2009 ) and are basically about relationships. these should organize the chief beginning of any company’s connexion to the clients so that a trade name may be able to avoid negative perceptual experience and purpose for positive feedbacks.
Brand’s influence is non imposed by the company or the concern ; instead their relevancy depends on the demands and wants of the people because “the power of the trade name lies in the heads of consumers” . “Brand name entirely does non do a brand” 1 has to be strong plenty to develop a market-leading trade name capacity that is indispensable for long-run fight. What is a strong trade name anyhow? In placing a strong trade name. we have to take in consideration some cardinal indexs of such ; high trade name equity. trade name placement and fight. The Brand’s Labor: Brand Equity
Aaker defines trade name equity as a set of assets and liabilities inked to a brand’s name and symbol that adds to or subtracts from the value perceived by a merchandise or service to a house and or the firm’s client nevertheless Keller defines trade name equity as the differential consequence of the trade name cognition on consumer response to the selling of the trade name. Aaker’s definition on trade name equity is centered on the consumer’s negative or positive perceptual experience attached to the trade name while Keller described it as the difference between the business’ projection of the trade name on the consumer’s reading and perceptual experience of the trade name.
Taking it from a study’s position. have suggested that trade name equity is the result that accrues to a merchandise with its trade name name compared with those that would accrue if the same merchandise did non hold a trade name name. merely put it is the result of the overall selling attempt of the trade name. Since there is already an rating of the merchandise and service. trade name equity plays a function in how information is learned and so retrieved and used in doing pick.
That is why trade name equity has emerged as a cardinal strategic plus that needs to be monitored and nurtured for maximal long-run public presentation. Not merely that it serves as an of import signal to cut down perceived hazard but it is besides why considers trade name equity as the value of a trade name to the house. Harmonizing to trade names with higher equity have an established strength in the market for they are able to bring forth higher immediate returns from their selling mix attempts and higher trueness trade names generate greater carrying from publicities.
Besides have mentioned that purchasers respond to stigmatization by buying the same merchandises or trade names or by demoing penchant toward a peculiar trade name. delivery houses higher in the market portion. higher net incomes or portion value. To sum it all up. trade names which have higher equity can acquire the customer’s penchant and inclinations and consequence in higher degree of sale. The construct of trade name equity has remained a complex phenomenon for many research workers because of the many associated constructs applicable under it.
To understand it to the full. the research workers would hold to place its cardinal constituents. Aaker approaches trade name equity as a set of cardinal dimensions grouped into a complex system consisting chiefly: trade name consciousness. trade name perceived quality. trade name trueness and trade name association. The Impression. Brand Awareness For a trade name to prolong a presence in the market place. people must be cognizant of it. As such. at its most basic degree. cognition encompasses trade name consciousness and the extent to which clients recall and recognize the trade name.
. To specify trade name consciousness. it is the consumer’s ability to place the trade name and can be measured with the aid of trade name callback and trade name acknowledgment. Brand callback is the ability of consumers to recover the trade name from memory. when the merchandise class. the demands fulfilled by the class. or some other type of investigation. is given as a cue. Brand acknowledgment reflects the ability of consumers to corroborate prior exposure to the trade name. It is besides the extent to which a individual able to acknowledge a peculiar trade name given a set of trade names harmonizing to.
Harmonizing to the function of trade name consciousness in edifice trade name equity depends on the strength of the brand’s presence in the consumers’ head and with that trade name consciousness had become a critical factor to act upon the purchasing determinations and purchase purposes. It besides enhances the chances of being considered in the future purchase state of affairss. . But awareness entirely is non plenty harmonizing to for the initial work was found that consciousness entirely was non equal to construct trade name apprehension.
It will besides necessitate aid of the other trade name equity’s dimensions. Perceived Quality: The Judgment To prolong one’s presence in the market. consciousness had been the establishing rule to execute such but is the image merely right to present positive quality perceptual experience that may even force more knowing consumers to purchase or purchase merchandises. Perceived Quality is defined as the customer’s judgement of public presentation of a public presentation excellence of a merchandise or service relative to the outlooks of quality ( Balaji. 2011 ) .
In other words perceived trade name quality represents consumers’ position of how good a trade name meets their demand and outlooks. Harmonizing to. he stated that “perceived quality besides represent consumers’ judgements sing a brand’s overall superiority” . To add on Huang’s survey. said that consumers’ dress purchase determinations may be more likely to be influenced by their perceptual experiences of dress properties such as monetary value. quality. and manner than by their concerns about the cultural conditions under which dress is or was produced.
Perceived quality is a consumer’s subjective judgement about merchandises or services. It is personal and irrational. quality may merely compare to a certain characteristics and benefits that are alone or different from others and these qualities may non be of standard or penchant of one chance. intending a trade name may merely be able to be successful if they impress the right people or the mark market per Se. Brand Association: The Synapse Associations stand for what the trade name stands for and connote a promise to clients from the organisation members.
This means that trade name association is something that provides significance to a trade name. In other words. trade name association are thoughts or descriptions consumers can associate with the merchandise or service offered by the trade name. Other definition of trade name association stated by and is that it is anything linked in the memory of the consumers to the trade name and the ideas that come up to mind after trade name or offering is recalled. Brand associations help consumers retrieve and process information and evoke a positive consequence and cognitive considerations of the benefits.
By convenience. trade name association can really do the merchandise information more accessible that it can act upon faster purchase determinations of consumers. Brand Loyalty: The Corner Stone Another dimension of trade name equity is trade name trueness. To specify trade name trueness on understanding. it is “a profoundly committedness to rebuy or repatronize a preferable merchandise or service systematically in the hereafter. doing insistent same trade name or same trade name set buying. despite situational influences and selling attempts holding the possible to do exchanging behavior” .
In relation to the survey. mentioned that trueness is understood to be a long term fond regard to a house and it is considered to be closely linked to consumer based trade name equity. Now how can trade name trueness be of usage. trade name trueness is of strategic importance for companies to obtain a sustainable competitory advantage because it is considered as one of the most of import factors impacting consumer pick harmonizing to and. In placing trueness. satisfaction strength is a critical determiner because it plays a important function in the
interlingual rendition of declared satisfaction into client trueness and research of indicates that though satisfaction is link to some facets of trueness. its impact may depend on aspects of the anterior relational experience. In add-on. the writers anticipate that satisfaction strength will act upon both trueness and the interlingual rendition of satisfaction into trueness. besides suggested that the willingness of single consumers. employees. friends the investor personal forfeits in order to beef up the relationship may assist.
One of trade name loyalty’s substance is. Brand self-connection wherein harmonizing to is the thought that attachment involves a bond with the trade name included as portion of the ego ; it suggests that a critical facet of fond regard involves the cognitive and emotional connexion between the trade name and the ego. That’s why trust in a trade name is of import and is a cardinal factor in the development of trade name trueness harmonizing to because it can ensue to client keeping. In metaphor. trade name trueness is the basis of trade name equity and trade name itself.
Brand Positioning Harmonizing to sellers need to place their trade names clearly to aim costumer’s heads at the lowest degree ; they can place the trade name on merchandise properties. However properties are the least desirable degree for trade name placement. A trade name can be better positioned by tie ining its name with a desirable benefit. The strongest trade names go beyond property or benefit placement. They are positioned on a strong beliefs and values. They explained the construct of trade name placement in footings of its three degrees.
The trade name must be aligned to its ends and prospect consumers in order to be positioned good in the market. Like what have mentioned in their survey. consistence in value delivered helps trade name suppliers understand the value marks and helps clients understand the trade name placement. In the survey of. they stated that it is of import for concerns to make attractive force in their trade name to be better positioned than their rivals. In return. when a trade name has a comparative advantage in consumers’ head. its market portion should increase or at least non lessening.
The survey of mentioned that placement is a really left brained phenomenon. where trade names are narrowly defined by either personality or benefits. When one defines trade names so stiffly. the advertisement gets predictable. and there’s no border for creativeness or enlargement. Fluid nature and flexibleness is one of the ways for trade names to last. Brand belief plants by tracking a peculiar trade name besides by seeking to see it in the context of other trade names of the same class. the comparing creates a distinguishable placement. Advantages to Competition