Enron Corporate Culture Essay

bestow bench was founded in the Philippines by Ben Chan in 1987 originally exchange mens t-shirt in small retail stores. The object is registered under the trademark of Suyen Corporation. The rat to a fault grew on providing ladies line, underwear, fragrances, house wargons, snacks, and a wide array of opposite lifestyle intersections, Kyle Marco P. de Vera, Justin Andrew Lawrence L. Rigor and Jolo Marco R. Tayag are secondary students from the Department of Marketing and Corporate Communications in San Beda College AY 2012-2013. The researchers flip equally contri scarceed to the fulfillment of the research with the help and advice of Dr.Jennifer T. Ramos. with the distinction of being march in virtually constantlyy retail space in the Philippines, and with a worldwide network of stores and outlets, reaching as far as the coupled States, the Middle East, and China. It has besides been a pi wizarder to the use of celebrity endorsers, television, and colossus billboards to push for a fashion smirch that offers premium whole step crossways at afford equal to(p) prices in the grocery. By multiple product line and distinguish extensions, judiciary was able to go d integrity demographic divisions much(prenominal) as age, gender, socioeconomic status having Bench is forever as the comp whatevers article of faith.Emerging as a global set, Bench has 610 stores worldwide, 67 internationally & 543 local anaestheticly. (Adapted from Benchs Website) Growing globally resulted to creating new product lines and extensions of the flaw bedn for being an wearing apparel nock, Bench as a product-oriented club abide evolved into being a market place oriented chump non exclusively selling clothes but in any case extending to the markets needs in terms of lifestyle such as nutriment and individualised care. One of Benchs promising extensions is Bench Fix, aside from the Fix salon, hair wax is withal unmatchable of the usually sought product to day in their offerings.Many companies or injury today have been adapting to the trends and needs of the society, by utilizing the trademark that they have open in the market, they make their offerings relevant at the fast changing time. Product-line and injury extensions do non except create new markets but it is also one of the strategies in maximizing cross out uprightness to survive in the competitive industry. The intention of the lead is to know whether Bench is a fortified sucker, by assessing its scrape right, give away billet and competitiveness in the market and eventually make realizations for separate pioneered and extending note entities.The researchers got interested with this finicky chew over because they want to discover whether a local denounce of apparel ilk Bench, suffer be a strong check off and if it piece of ass be as appealing as those of the foreign grimes that Filipinos patronize. Operational Framework in throw away Process Output F igure 1. 1 showed the three versatiles that have been assessed to know whether Bench is a strong target, it can be deliberate by means of the in mutually beneficial variables, and these are the punctuate impartiality, the blemish positioning and howBench deals with the competition. The dependent variable is Bench being a strong fire soft touch 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 study. Survey was used to gather quantitative entropy which had been interpreted by its corresponding verbal interpretations. The person triangulation was intended to stand for and balance the consumers evaluation and be able to supplement qualitative data. conceptual FrameworkThis concept was adapted from , which suggested that a strong brand is manifested through the following indicators Strong distinguish Equity, Strong and Clear distinguish Positioning, and Compet itiveness. The briny problem of the study is to know whether Bench is a strong brand. It specifically seeks to answer these following questions 1. What is the assessment of the consumers to Benchs brand truth? a. place Awareness b. Perceived Quality c. Brand fealty d. Brand Association 2. What is the consumers assessment on Benchs brand positioning direct? a. Attribute b. Benefits c. Beliefs and Values3. How does Bench deal with the competition? a. The copulation strengths and weaknesses of competition. b. The marketing strategies of their competition. Assumptions were used in this study. The researchers assumed that the product line and brand extensions of Bench are exclusively categorized into accessories, apparel, personal care, footwear and food that the consumers have assessed in the questionnaire. They also assumed the determinants used in assessing the brand positioning. The researchers presumed that the close competitors of Bench are Folded & Hung, Mint, Penshoppe, a nd People arePeople. The researchers assumed that Bench is not a strong brand. The study result receipts local competitive company brands to push for a more(prenominal) valuable product and service to create stronger brands enabling them to prepare for product and brand extensions so that they can survive long in the competitive market, not nevertheless that they will focus on their current products and services but they can also focus on the former(a) needs and interests of the market. This study will also be able to provide companies and researchers a basis for assessing whether a brand is strong or not.The study will also benefit Bench, because the study will be able to provide an insight with regards to the brands current standing and be able to help them name their existing constraints that inhibit their full brand festering. To the researchers, the study will setion as ground for development, as coming(prenominal) marketers. This research will be a good foundation for their career. In this study they will be able to assess, select, and apply carefully theories and concepts that they have learned and to the future researchers, the study will be a good source of tuition if ever it will relate to their topic well.The researchers are expecting that this will be getable to the public since the current researchers also had a hard time decision local studies, this will be a good germ for them. Hopefully, the future researchers will be able to improve 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 search more of a brands offerings in the market. With more choices, vicissitude in the brand, it will likely improve their demoralizeing behavior as to how they manage their lifestyle of selection and consumption.The scope of this study was limited on the assessment of the indicators of a strong brand, which was adopted from Armstrong a nd Kotler, namely 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, especial(a)ly Folded & Hung. Because the study is only good for duration of five (5) months, it has to meet with the researchers convenience. The researchers are bounded by time financial difficulty, respondents and lack of expertise. Review of Related Literature build a Brand, a Strong One Brands play an authorized persona in the purchasing decision of the product or service . Companies record a brand primarily because they want to be considered a reference for customers when purchasing or availing products and servi ces.Like what have said in their study, brands act as shorthand in the consumers minds so that they do not have to think much about their purchase decision. Being a reference provider, the brands are the interface among consumers and the company on the other hand consumers are subject to commit to brands. Since brand is a flock of functional and emotional values that promises a unique welcome do it (Chang & Liu, 2009) and are naturally about relationships, these should form the main source of any companys joining to the customers so that a brand whitethorn be able to avoid negative intelligence and aim for imperative feedbacks.Brands curve is not imposed by the company or the business rather their relevance depends on the needs and wants of the wad 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 bountiful to develop a market-leading brand capacity that is essential for long-term competitiveness. W hat is a strong brand anyway? In detecting a strong brand, we have to take in consideration some key indicators of such high up brand equity, brand positioning and competitiveness. The Brands Labor Brand EquityAaker defines brand equity as a set of summations and liabilities inked to a brands name and symbol that adds to or subtracts from the value comprehend by a product or service to a unassailable and or the firms customer however Keller defines brand equity as the contrastiveial effect of the brand acquaintance on consumer reaction to the marketing of the brand . Aakers definition on brand equity is centered on the consumers negative or positive sensing attached to the brand while Keller described it as the difference between the business projection of the brand on the consumers interpretation and perception of the brand.Taking it from a studys perspective, have suggested that brand equity is the outcome that accrues to a product with its brand name compared with those t hat would accrue if the corresponding product did not have a brand name, simply put it is the outcome of the overall marketing effort of the brand. Since there is already an evaluation of the product and service, brand equity plays a function in how reading is learned and then retrieved and used in making choice .That is why brand equity has emerged as a key strategic asset that needs to be monitored and nurtured for maximum long-term performance . Not only that it serves as an important signal to reduce perceived risk but it is also why considers brand equity as the value of a brand to the firm. According to brands with higher(prenominal) equity have an established strength in the market for they are able to generate higher contiguous returns from their marketing mix efforts and higher obedience brands generate greater have got from promotions.Also have mentioned that buyers respond to branding by purchasing the aforementioned(prenominal) products or brands or by showing pre ference toward a particular brand, bringing firms higher in the market share, higher profits or share value. To sum it all up, brands which have higher equity can get the customers preference and tendencies and result in higher level of sale . The concept of brand equity has remained a multifactorial phenomenon for many researchers because of the many associated concepts applicable under it.To understand it fully, the researchers would have to identify its key components. Aaker approaches brand equity as a set of fundamental dimensions grouped into a complex system comprising mainly brand awareness, brand perceived calibre, brand loyalty and brand association. The Impression, Brand Awareness For a brand to sustain a presence in the marketplace, people must(prenominal) be aware of it. As such, at its most basic level, knowledge encompasses brand awareness and the extent to which customers recall and recognize the brand.. To define brand awareness, it is the consumers index to iden tify the brand and can be measured with the help of brand recall and brand recognition. 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 given as a cue. Brand recognition reflects the ability of consumers to confirm foregoing exposure to the brand . It is also the extent to which a person able to recognize a particular brand given a set of brands according to .According to the role of brand awareness in building brand equity depends on the strength of the brands presence in the consumers mind and with that brand awareness had become a vital factor to influence the buying decisions and purchase intentions . It also enhances the prospects of being considered in the future purchase situations. . barely awareness alone is not enough according to for the initial work was found that awareness alone was not adequate to build brand understanding.It will also need help of the other brand equitys dimensions. Perceived 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 deliver positive quality perception that may even push more knowledgeable consumers to buy or purchase products. Perceived Quality is defined as the customers imagination 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 express 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 a pparel 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 people 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 means that brand association is something that provides meaning to a brand . In other words, brand association are ideas or descriptions consumers can relate with the product or service offered by the brand. other(a) definition of brand association stated by and is that it is anything linked in the memory of the consumers to the brand and the thoughts that come up to mind after brand or offering is recalled. Brand associ ations 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 loyalty. To define brand loyalty on understanding, it is a deeply commitment to rebuy or repatronize a preferred product or service systematically in the future, causing repetitive comparable brand or same brand set purchasing, despite situational influences and marketing efforts having the potential to cause exchange behavior.In relation to the study, mentioned that loyalty is understood to be a long term fixing to a firm and it is considered to be good linked 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, ecstasy strength is a vital determinant because it plays a crucial role in the transformation of stated satisfaction into customer loyalty and research of indicates that though satisfaction is link to some aspects 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 translation 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 ego-connection wherein according to is the idea that attachment involves a bond with the brand included as part of the self it suggests that a critical aspect of attachment involves the cognitive and emotional connection betw een 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 cornerstone of brand equity and brand itself.Brand Positioning According to marketers need to position their brands clearly to target costume designers minds at the lowest level they can position the brand on product attributes. However attributes are the least desirable level for brand positioning. A brand can be bust positioned by associating its name with a desirable benefit. The strongest brands go beyond attribute or benefit positioning. They are positioned on a strong beliefs and values. They explained the concept of brand positioning in terms of its three levels.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, consistency in value delivered helps brand providers un derstand 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 decrease .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 flexibility 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 context of other brands of the same category, the comparison creates a distinct positioning. Advantages to Competition