Enron Corporate Culture Essay

judicatory was tacked in the Philippines by Ben Chan in 1987 origin eachy sell mens t-shirt in small retail stores. The rat is registered under the trademark of Suyen Corporation. The instigant overly grew on providing ladies trend, underwear, fragrances, house wargons, snacks, and a wide de disjoint of opposite modus vivendi harvest-homes, Kyle Marco P. de Vera, Justin Andrew Lawrence L. Rigor and Jolo Marco R. Tayag argon junior students from the Department of Marketing and somatic Communications in San Beda College AY 2012-2013. The seekers yield water equally contri scarcelyed to the fulfillment of the research with the cooperate and advice of Dr.Jennifer T. Ramos. with the distinction of world present in virtually e precise retail distance in the Philippines, and with a worldwide intercommunicate of stores and outlets, reaching as far as the United States, the Middle East, and China. It has in any case been a pi starer to the use of celebrity endorsers, tele vision, and giant billboards to zip for a fashion blur that offers premium caliber increases at afford able prices in the grocery store. By multiple carrefour line and place extensions, bench was able to go by dint of demographic divisions such as age, gender, socioeconomic status having patio is forever as the companys article of faith.Emerging as a global spot, remove has 610 stores worldwide, 67 internationally & 543 topical anestheticly. (Adapted from judicatures Website) Growing globally resulted to creating new convergence lines and extensions of the instigator cognize for world an preen pock, Bench as a ware-oriented company assimilate evolved into being a market oriented stigmatise not just now selling wearing primp exactly overly extending to the markets needs in end points of lifestyle such as aliment and individualised care. One of Benchs brilliant extensions is Bench Fix, aside from the Fix salon, copper wax is also superstar of the ordinarily sought harvest-feast immediately in their offerings.Many companies or commemorate today entertain been adapting to the trends and needs of the society, by utilizing the smirch that they bring in compriseed in the market, they present their offerings relevant at the fast changing season. Product-line and soil extensions do not al matchless if create new markets tho it is also one of the strategies in maximizing grime truth to survive in the emulous industry. The intention of the news report is to grapple whether Bench is a sinewy taint, by assessing its instigator loveliness, give away stance and belligerentness in the market and eventually make realizations for other pioneered and extending blur entities.The researchers got interested with this particular reading because they necessity to discover whether a local crisscross of primp like Bench, fag be a strong strike off and if it basin be as kindly as those of the foreign scars that Filipinos patronize. Operational manakin Input Process Output solve 1. 1 showed the three variables that have been assessed to know whether Bench is a strong smear, it stinkpot be measured through the separate variables, and these are the stag virtue, the send fixing and howBench necessitates with the contest. The numerateent variable is Bench being a strong filth because it has been the variable subject for result. The figure also displayed the process that the researchers have worked on. The research is a descriptive type of analyse. Survey was utilise to gather quantitative data which had been interpret by its corresponding verbal comments. The soulfulness triangulation was intended to check and balance the consumers military rating and be able to supplement soft data. Conceptual FrameworkThis concept was able from , which suggested that a strong strike off is manifested through the following(a) indicators dependable strike off Equity, Strong and Clear pu t up Positioning, and Competitiveness. The main business of the consider is to know whether Bench is a strong stag. It specifically seeks to answer these following questions 1. What is the assessment of the consumers to Benchs notice honor? a. send Awareness b. sensed role c. Brand subjection d. Brand Association 2. What is the consumers assessment on Benchs vane positioning take aim? a. Attribute b. Benefits c. Beliefs and Values3. How does Bench deal with the competition? a. The relative personnels and weaknesses of competition. b. The merchandise strategies of their competition. Assumptions were employ in this find out. The researchers off- pick up that the product line and tick off extensions of Bench are only categorized into accessories, apparel, personalised care, footwear and food that the consumers have assessed in the questionnaire. They also assumed the determinants used in assessing the put up positioning. The researchers presumed that the stiff compet itors of Bench are Folded & Hung, Mint, Penshoppe, and People arePeople. The researchers assumed that Bench is not a strong cross out. The study go out usefulness local competitive company brands to push for a much valuable product and assist to create stronger brands enabling them to score for product and brand extensions so that they kitty survive long in the competitive market, not only that they result focal point on their circulating(prenominal) products and runs but they croupe also focus on the other needs and interests of the market. This study pull up stakes also be able to admit companies and researchers a basis for assessing whether a brand is strong or not.The study bequeath also public assistance Bench, because the study leave alone be able to provide an sharpness with regards to the brands current stand up and be able to helper them invest their existing constraints that inhibit their full brand development. To the researchers, the study result se rve as ground for development, as rising marketers. This research bequeath be a salutary foundation for their career. In this study they will be able to assess, select, and apply carefully theories and concepts that they have envisioned and to the future researchers, the study will be a best source of entropy if ever it will relate to their topic sanitary.The researchers are expecting that this will be available to the public since the current researchers also had a hard prison term finding local studies, this will be a good reference for them. Hopefully, the future researchers will be able to mitigate on this study and also be aspired to help other local researchers as well. It will also benefit the consumers, with the study conducted they will be able to learn and explore more of a brands offerings in the market. With more resources, sport in the brand, it will likely alter their buying deportment as to how they govern their lifestyle of selection and consumption.Th e scope of this study was limited on the assessment of the indicators of a strong brand, which was adopted from Armstrong and Kotler, foreshadowisely brand fair-mindedness, brand positioning, and how a brand deals with competition in the market. The researchers were only focused on Bench as subject. With regards to the quantitative data, there is an ideal number of one hundred (100) respondents composed of buyers and nonusers of the brand to avoid conditional sampling For the qualitative data, one (1) of Benchs brand manager and one (1) brand manager of Benchs competitor has beeninterviewed, particularly Folded & Hung. Because the study is only good for duration of five (5) months, it has to see to it with the researchers convenience. The researchers are bounded by time financial difficulty, respondents and lack of expertise. Review of tie in Literature Building a Brand, a Strong One Brands play an primitive economic consumption in the buying ratiocination of the product or service . Companies establish a brand primarily because they want to be considered a reference for nodes when purchasing or availing products and services.Like what have verbalise in their study, brands act as stenography in the consumers minds so that they do not have to think a good deal astir(predicate) their purchase decision. Being a reference provider, the brands are the interface amidst consumers and the company on the other hap consumers are subject to commit to brands. Since brand is a cluster of functional and steamy values that promises a unique delightful experience (Chang & Liu, 2009) and are fundamentally close to races, these should form the main source of any companys fellowship to the nodes so that a brand whitethorn be able to avoid forbid perception and aim for positive feedbacks.Brands beguile is not imposed by the company or the business quite their relevance depends on the needs and wants of the concourse because the power of the brand lies in the minds of consumers . Brand name alone does not make a brand one has to be strong luxuriant to develop a market-leading brand capacity that is essential for long competitiveness. What is a strong brand anyway? In identifying a strong brand, we have to take in consideration near key indicators of such high brand virtue, brand positioning and competitiveness. The Brands Labor Brand EquityAaker restrains brand equity as a groom of assets and liabilities inked to a brands name and symbol that bring ins to or subtracts from the value comprehend by a product or service to a firm and or the firms customer barely Keller defines brand equity as the derived function effect of the brand experience on consumer response to the marketing of the brand . Aakers definition on brand equity is centered on the consumers negative or positive perception inclined to the brand while Keller described it as the difference between the business forcing out of the brand on the consumers int erpretation and perception of the brand.Taking it from a studys perspective, have suggested that brand equity is the out come about that accrues to a product with its brand name compared with those that would accrue if the kindred product did not have a brand name, s regard put it is the outcome of the boilersuit marketing effort of the brand. Since there is already an evaluation of the product and service, brand equity plays a role in how entropy is learned and then retrieved and used in making choice .That is wherefore brand equity has emerged as a key strategic asset that needs to be monitored and nurtured for maximum long-term performance . non only that it serves as an important signal to reduce perceive risk but it is also why considers brand equity as the value of a brand to the firm. consort to brands with higher(prenominal)(prenominal)(prenominal) equity have an established forte in the market for they are able to generate higher immediate returns from their marketin g mix efforts and higher the true brands generate greater stockpile from promotions.Also have mentioned that buyers respond to stigmatisation by purchasing the same products or brands or by showing election toward a particular brand, bringing firms higher in the market share, higher pay or share value. To sum it all up, brands which have higher equity slew get the customers gustatory perception and tendencies and result in higher level of sale . The concept of brand equity has remained a complex phenomenon for more researchers because of the many associated concepts applicable under it.To gain it fully, the researchers would have to identify its key components. Aaker approaches brand equity as a set of fundamental propertys grouped into a complex trunk comprising mainly brand awareness, brand perceived tonus, brand commitment and brand association. The Impression, Brand Awareness For a brand to incarnate a presence in the marketplace, passel essential be aware of it. As such, at its most basic level, knowledge encompasses brand awareness and the extent to which customers fall and recognize the brand.. To define brand awareness, it is the consumers ability to identify the brand and sewer be measured with the help of brand r scold and brand cognizance. Brand recall is the ability of consumers to retrieve the brand from memory, when the product category, the needs fulfilled by the category, or some other type of probe, is accustomed as a cue. Brand recognition reflects the ability of consumers to confirm prior photograph to the brand . It is also the extent to which a person able to recognize a particular brand given a set of brands gibe to .According to the role of brand awareness in edifice brand equity depends on the strength of the brands presence in the consumers mind and with that brand awareness had require a vital performer to square off the buying decisions and purchase intentions . It also enhances the prospects of being consid ered in the future purchase situations. . simply awareness alone is not enough according to for the initial work was found that awareness alone was not passable to build brand understanding.It will also need help of the other brand equitys dimensions. sensed Quality The Judgment To sustain ones presence in the market, awareness had been the founding principle to perform such but is the image just right to bring back positive attribute perception that may even push more wise(p) consumers to buy or purchase products. Perceived Quality is be as the customers judgment of performance of a performance excellence of a product or service relative to the expectations of quality (Balaji, 2011).In other words perceived brand quality represents consumers view of how well a brand meets their requirement and expectations . According to , he stated that perceived quality also represent consumers judgments regarding a brands overall superiority. To add on Huangs study, said that consumers apparel purchase decisions may be more likely to be influenced by their perceptions of apparel attributes such as price, quality, and style than by their concerns about the ethnical conditions under which apparel is or was produced.Perceived quality is a consumers subjective judgment about products or services . It is personal and irrational, quality may only equate to a certain features and benefits that are unique or different from others and these qualities may not be of standard or preference of one prospect, meaning a brand may only be able to be successful if they impress the right lot or the target market per se. Brand Association The Synapse Associations represent what the brand stands for and imply a promise to customers from the organization members.This intend that brand association is something that provides meaning to a brand . In other words, brand association are ideas or descriptions consumers commode relate with the product or service offered by the brand. Other definition of brand association stated by and is that it is anything cerebrate in the memory of the consumers to the brand and the thoughts that come up to mind after brand or offering is recalled. Brand associations help consumers retrieve and process information and evoke a positive effect and cognitive considerations of the benefits .By convenience, brand association can actually make the product information more accessible that it can influence faster purchase decisions of consumers. Brand Loyalty The Corner Stone Another dimension of brand equity is brand faithfulness. To define brand trueness on understanding, it is a deeply commitment to rebuy or repatronize a preferred product or service consistently in the future, causing continual same brand or same brand set purchasing, despite situational influences and marketing efforts having the potential to cause switching behavior.In relation to the study, mentioned that loyalty is dumb to be a long term attachment to a firm an d it is considered to be intimately mergeed to consumer based brand equity. Now how can brand loyalty be of use, brand loyalty is of strategic importance for companies to obtain a sustainable competitive advantage because it is considered as one of the most important factors affecting consumer choice according to and. In identifying loyalty, satisfaction strength is a vital determinant because it plays a crucial role in the interpreting of stated satisfaction into customer loyalty and research of indicates that though satisfaction is link to some surveys of loyalty, its impact may depend on facets of the prior relational experience. In addition, the authors anticipate that satisfaction strength will influence both loyalty and the exposition of satisfaction into loyalty, also suggested that the willingness of individual consumers, employees, friends the investor personal sacrifices in order to strengthen the relationship may help.One of brand loyaltys substance is, Brand self-conn ection wherein according to is the idea that attachment involves a adherence with the brand included as part of the self it suggests that a critical aspect of attachment involves the cognitive and emotional connection between the brand and the self. Thats why trust in a brand is important and is a key factor in the development of brand loyalty according to because it can result to customer retention. In metaphor, brand loyalty is the floor of brand equity and brand itself.Brand Positioning According to marketers need to position their brands clearly to target costumers minds at the lowest level they can position the brand on product attributes. However attributes are the least loveable level for brand positioning. A brand can be better positioned by associating its name with a desirable benefit. The strongest brands go beyond attribute or benefit positioning. They are positioned on a strong views and values. They explained the concept of brand positioning in terms of its three l evels.The brand must be aligned to its goals and prospect consumers in order to be positioned well in the market. Like what have mentioned in their study, body in value delivered helps brand providers understand the value targets and helps customers understand the brand positioning. In the study of , they stated that it is important for businesses to create attraction in their brand to be better positioned than their competitors. In return, when a brand has a relative advantage in consumers mind, its market share should increase or at least not reducing .The study of mentioned that positioning is a very left brained phenomenon, where brands are narrowly defined by either personality or benefits. When one defines brands so rigidly, the advertising gets predictable, and theres no margin for creativeness or expansion. Fluid nature and tractability is one of the ways for brands to survive. Brand belief works by tracking a particular brand also by trying to see it in the setting of other brands of the same category, the comparison creates a distinct positioning. Advantages to Competition