Module 1 Discussion Branding strategies are changing due to the popularity of the Internet and changing consumer behavior. There are various functions of branding. Branding is not only utilized to differentiate the focal brand from the competing ones, bu

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Module 1 Discussion

Branding strategies are changing due to the popularity of the Internet and changing consumer behavior. There are various functions of branding. Branding is not only utilized to differentiate the focal brand from the competing ones, but also to increase brand/product awareness, change consumer attitudes, and encourage purchases. On the other hand, consumer brand experience and online consumer reviews are increasingly influencing branding strategies in the digital age.

Read the following articles:

Edelman, D. C. (2010). Branding in the digital age: You’re spending your money in all the wrong places. Harvard Business Review, December, retrieved from

https://hbr.org/2010/12/branding-in-the-digital-age-youre-spending-your-money-in-all-the-wrong-places

Anderson, M. (2014, July 7). 88% of consumers trust online reviews as much as personal recommendation. Retrieved from

88% Of Consumers Trust Online Reviews As Much As Personal Recommendations

Please address the following issues regarding online consumer reviews and brand management in the digital age.

1. Evaluate the pros and cons of online consumer reviews from the consumer’s perspective.
2. Discuss the use of online consumer reviews from the brand manager’s perspective.

Note: Please check the Discussion grading rubrics to better understand the requirements for Discussions.

APA Citation and Format

1-2 Page

Rubric Assessment

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Rubric Name: MBA/MSHRM/MSL Discussion Grading Rubric – Timeliness v1

Criteria Level 4 – Excellent Level 3 – Proficient Level 2 – Developing Level 1 – Emerging Quality of Initial Posting (first discussion only) 4 points Initial posting reveals a clear understanding of all aspects of the threaded discussion question; uses factual and relevant information; and demonstrates full development of concepts. 3 points Initial posting demonstrates legitimate reflection and answers most aspects of the threaded discussion question; full development of concepts is not evidenced. 2 points Initial posting demonstrates some reflection and answers some aspects of the threaded discussion question; Limited development of concepts is evident. 1 point Initial posting was not on topic; the response was unrelated to threaded discussion question; and post demonstrated only superficial thought and poor preparation. Quality of Responses to Classmates 6 points Responded to the required number of students and to the professor, if appropriate, for every discussion. Demonstrated analysis of others’ posts; extends meaningful discussions by building on previous peer posts and offering alternative perspectives. 5 points Responded to almost all of the required students and to the professor, if appropriate, for every discussion. Provided comments and new information to other posts; not all responses promote further discussion of the topic. 4 points Responded to some students and to the professor, if appropriate, for every discussion. Little depth in response; agreed or acknowledged one other classmate’s initial posting. 3 points Did not respond to any student or the professor. Reference to Supporting Readings/Information Literacy 3 points Refers to and properly cites either course and/or outside readings in both initial posting and responses to peers. 2 points Refers to and properly cites course and/or outside reading in initial posting only. 1 point Makes some reference to assigned readings with some citations or cites questionable sources.  0 points Makes no reference to assigned readings without citations or cites questionable sources. Critical Thinking 4 points Demonstrates mastery conceptualizing the problem; viewpoints and assumptions of experts are analyzed, synthesized, and evaluated; and conclusions are logically presented with appropriate rationale. 3 points Demonstrates considerable proficiency conceptualizing the problem; viewpoints and assumptions of experts are analyzed, synthesized, and evaluated; and conclusions are presented with necessary rationale. 2 points Demonstrates partial proficiency conceptualizing the problem; viewpoints and assumptions of experts are analyzed, synthesized, and evaluated; and conclusions are somewhat consistent with the analysis and findings. 1 point Demonstrates limited or poor proficiency conceptualizing the problem; viewpoints and assumptions of experts are analyzed, synthesized, and evaluated; and conclusions are either absent or poorly conceived and supported. Timeliness 3 points Initial post occurs in a timely manner (1 – 3 days into module) allowing ample time for classmates to respond and engage. 2 points Initial post occurs later (4 – 5 days into module) allowing limited time for classmates to respond and engage. 1 point Initial post occurs substantially late (6-7 days into module) allowing minimal to no time for classmates to respond and engage.  0 points Initial post occurs after the first week of the module.  Overall Score Level 4 18 or more Level 3 16 or more Level 2 14 or more Level 1 0 or more

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Module 1 – Reading Background

STP, PRODUCT MANAGEMENT & SITUATION ANALYSIS

The reading list for this first module is quite extensive. However, many of these items will also serve as references for Modules 2-4.

How to conduct a marketing audit (n.d.). MarketingTeacher.com. Retrieved from 

Marketing Audit

Introduction to financial statements for marketing (n.d.). MarketingTeacher.com. Retrieved from 

Marketing and Finance

Marks, R. E. (1997). Market structure and competition (October 9). Retrieved from 

http://www.agsm.edu.au/bobm/teaching/ECL/lect03

Marketing Research (n.d.). MarketingTeacher. Retrieved from 

Introduction to Marketing Research

These Web pages explain concepts of the Segmenting, Targeting, and Positioning.

Building Customer Relationships. (2014). Pearson Learning Solutions, New York, NY. Retrieved from 

http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=11770

Building Customer Relationships (Audio). (2014). Pearson Learning Solutions, New York, NY. Retrieved from 

http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=11448

Segmentation (n.d.). MarketingTeacher. Retrieved from 

Segmentation

Targeting (n.d.). MarketingTeacher. Retrieved from 

Target

Positioning (n.d.). MarketingTeacher. Retrieved from 

http://www.entrepreneur.com/encyclopedia/positioning

Perner, L. (n.d.). Segmentation, targeting, and positioning. Consumer Psychologist. Retrieved from 

http://www.consumerpsychologist.com/cb_Segmentation.html

Here are some useful links on market segments:

Nielsen. (n.d.). MyBestSegments ZIP code look-up. Retrieved from 

https://segmentationsolutions.nielsen.com/mybestsegments/Default.jsp?ID=20&menuOption=ziplookup&pageName=ZIP%2BCode%2BLookup

Nielsen. (n.d.). Nielsen PRIZM – Understanding social and lifestage groups. Retrieved from 

http://www.claritas.com/MyBestSegments/tutorials/Nielsen_PRIZM/engage.html

Nielsen. (n.d.). Segment Details. Retrieved from 

https://segmentationsolutions.nielsen.com/mybestsegments/Default.jsp?ID=30&menuOption=segmentdetails&pageName=Segment%Details

TETRAD. (n.d.). Demographics. Retrieved from 

http://www.tetrad.com/category/demographics/

This article explains considerations internal to the firm that affect its financial health:

Porter, M. (1980). Generic strategies. Retrieved from 

Generic Strategies

These Web pages explain the forces external to the firm that affect the financial health of a product or company:

PEST Analysis (n.d.). MarketingTeacher. Retrieved from 

PEST Analysis

Managing External Forces (n.d.). Marketing Tutorials. KnowThis. Retrieved from 

http://www.knowthis.com/principles-of-marketing-tutorials/managing-external-forces/

The following readings relate to product management strategy:

Products and Services. (2014). Pearson Learning Solutions, New York, NY. Retrieved from 

http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=12052

Products and Services (Audio). (2014). Pearson Learning Solutions, New York, NY. Retrieved from 

http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=11699

Product decisions (n.d.). KnowThis. Retrieved from 

http://www.knowthis.com/principles-of-marketing-tutorials/product-decisions/

This series of Web pages explains that product decisions over which firms have control are forces that determine the financial health of a product or company:

Product strategies (n.d.). LearnMarketing. Retrieved from 

http://www.learnmarketing.net/product.htm

The following articles explain and illustrate branding:

Aisner, J. E. (1999) More than a name: The role of brands in people’s lives. Working Knowledge for Business Leaders Series. Boston, MA: Harvard Business School. Retrieved from 

http://hbswk.hbs.edu/archive/2598.html

Beyersdorfer, D., et al. (2011 January/February). Preserve the luxury or extend the brand? Harvard Business Review. 89:1/2(January/February):173-7.

Christ, P. (2009). Understanding the importance of branding (October 28). Retrieved from 

http://www.knowthis.com/insights/marketing-professionals/trends-developments/1559-understanding-the-importance-of-branding

Clark, D. (2011 March) Reinventing your personal brand. Harvard Business Review. 89:5 (March):78-81.

Edelman, D. C. (2010). Branding in the digital age. Harvard Business Review. 88:12 (December):62-69.

Introduction to brands (n.d.). Marketing Teacher. Retrieved from 

Introduction to Brands

Klein, K. E. (2008). A practical guide to branding. Bloomberg Businessweek (June 9).

Tauber, E. W. (1981). Four branding alternatives: A branding strategy based upon brand extension. Marketing Teacher. Retrieved from 

Four Banding Alternatives

Zax, D. (2010). For Millennials, brands may be as important as religion, ethnicity. Co-Create(November 17). Retrieved from 

http://www.fastcocreate.com/1679028/for-millennials-brands-may-be-as-important-as-religion-ethnicity

The following article explains brand personality:

Fournier, S. (1998). Consumers and their brands: Developing relationship theory in consumer research. Journal of Consumer Research. 24:4(March):343-372.

These articles address the question of celebrity endorsements:

A Teakettle with Star Power? The Upsides and Pitfalls of Celebrity Brands (2011).Knowledge@Wharton (April 27). Retrieved from 

http://knowledge.wharton.upenn.edu/article.cfm?articleid=2761

Star Blight: The Perils of Celebrity Endorsements (2006). Knowledge@Wharton (September 6).Retrieved from 

http://knowledge.wharton.upenn.edu/article.cfm?articleid=1552

Stone, M. (2012). How Retailers’ Love Affair With Celebrities Will Blossom In 2012. Forbes (January 4).

Check the professional market research reports from 

IBISWorld

 database to find the industry analysis for your cumulative Session Long Project.

IBISWorld Overview

 (n.d.). IBISWorld, Inc., New York, NY.

IBISWorld Forecast

 (n.d.). IBISWorld, Inc., New York, NY.

IBISWorld Data and Sources

 (n.d.). IBISWorld, Inc., New York, NY.

IBISWorld Navigation Tips

 (n.d.). IBISWorld, Inc., New York, NY.

Check the following links for proper APA citation and reference format:

Purdue University Online Writing Lab. (n.d.). In-text citations: The basics. Retrieved from 

http://owl.english.purdue.edu/owl/resource/560/02/.

Cornell University Library. (n.d.). APA citation style. Retrieved from 

http://www.library.cornell.edu/resrch/citmanage/apa

Golden Gate University. (n.d.). University library: Research help. Retrieved from 

http://www.ggu.edu/libraries/university-library/research-help#citation-guide

University of Illinois at Urbana-Champaign. (n.d.). The center for writing studies. Retrieved from 

http://www.cws.illinois.edu/workshop/writers/citation/apa/intextcitation/