Branding Strategies Of Asda Marketing Essay

mark Strategies Of Asda Marketing EssayBranding is a most important tool for each product or family to stumble a long term market sh atomic number 18. The aim of this study is to develop an understanding of stigmatization and its implications in the retail market. This will implicate the concepts and practices of greaseing that are adopted by antithetical retailers in the UK as well as the new ch solelyenges faced by these retailers in UK market. This interrogation will identify the benefits of stakeing for suppliers, customers and for the retailers.I will identify the strategic approach which retailers in the UK mess adopt as a role model to survive in a highly competitive market and this will include the survey of UK fare and grocery retail market. I will in any case investigate how the changes in the market from the early beginning have changed the position of grocery supermarket chains.I will describe the in-depth mark strategies of ASDA, various operations of ASD As stores and its competition with world-wide and UK retailers. This study will also identify and investigate the competitive position of ASDA amount other key players in UK such as TESCO, Sainsbury and Morrison.INTRODUCTIONWhat is imperfectioning?According to the Websters dictionary a blade is defined as a mean of identification and an arbitrarily adapted scream that is given by manufacturer to a product to brand it and it may be use and protected as heap name.1A brand is defined as a name, term, design or symbol or a combination of them intended to identify the goods and services that identifies and distinguishes a particular(prenominal) sellers product from a competitive product of another seller. It is also defined as a part of a product and services tangible features, the verbal indication that help customers to identify the products they want. It plays a vital role in mind of a product or service and bathroom add value to them. It is a word which is comm just now refe rred to by advertisers and marketing people.Why it is important? pot generally recognize a well-known brand even if they do not know ab forth the company or its products/services. These are ordinarily the name of melodyes or the name of a product, although it can be the name of a feature or style of a product too. A good brand delivers the message clearly and motivates the buyers. thither are few other terms which have been used to define stigmatisation such as brand name, brand mark, trade name or trade mark. Thus branding is very essential for companies and it is beneficial for buyers and customers.INDUSTRY BACKGROUNDASDA was formed in 1965 with a nuclear fusion of two companies, Associated Dairies and the Asquith Brothers supermarket chain Queen. ASDA Stored Ltd was created a supermarket with its objectives to offer the customers permanently low prices. In 1999 ASDA was acquired by Wal-Mart Stores Inc., and ASDA became part of the worlds biggest and best retailer. Since then, ASDA also became Britains second gargantuanst supermarket. ASDA has now over ccc stores across the UK and employ 150,000 staff and its friendly service is as inextricably linked to the ASDA brand as their reputation for quality and service.2According to a late(a) survey, as of 1st August 2010 ASDA has 376 locations with operating in tally of 638 million and ranking as second monumentalst supermarket chain in the UK.ASDA Group Ltd., operates as one of the largest food retailers in the unite Kingdom. The companys stores sell a wide variety of merchandise including food and apparel, along with house wares, music, videos and books. The company once known as a daybook conglomerate was acquired by Wal-Mart Inc. in 1999. Under its new parents guidance, ASDA has been adding pharmacies, opticians, jewelry and photo departments to its stores.3ASDAS BRANDING STRATEGYAccording to a survey in 2004 which shows the key figures of the UK retail market, states that UK retail sales reached appro ximately 246 billion in 2004. This shows that retail industry, generally, continues to show positive signs of growth. The retail industry in any country is generally a very active, fast changing sector. Thus it comprises one of the main sectors in the economy of a country, in terms of transactions and turnover as a result, it is a highly competitive and sophisticated industry.My research proposal is about the greatness of branding in retail market particularly in the UK retail, food and grocery market. I will identify the branding strategy of ASDA and its market share in the UK retail sector. Currently ASDA is using one strategy which isIn September 2010 ASDA announced that it is going to re-launch its mid-tier private label range under the new Chosen by You brand name in a ask in to improve perceptions of the quality of its food. This new rang is a part of a 100m investment which includes 200,000 UK consumers taste testing and benchmarking the products.4And now ASDA has also deci ded to launch their new opticians business adopting similar logos and using slogans making indirect references to the chain. ASDA ran a campaign featuring the two slogansBe a real spec saver at ASDAstipulation savings at ASDA5These strategies are helping and will help ASDA to gain consumers satisfaction. Although ASDA is already playting continuous growth with the diversification and extension of its existing stores notwithstanding the retail market has ferment more competitive and having less market share can affect the overall ranking and position of ASDA in the foreign market. Therefore I will analyse and evaluate the strategic position of ASDA in comparability to other UK retailers and in conclusion there will be future strategic options suggested which aimed to strengthen its position in the highly competitive market and to gain customers satisfaction and loyalty.While using the same brand name, ASDA is also offering financial services to its customers which includeInsuranc eCredit cards and loansSavingsMotor breakdown coverEnergy supplyingAccording a recent report at BBC (27 May 2010) ASDA has also announced plans to buy Netto for 778m. Netto has 193 stores in the UK which will continue to trade under the Netto name for the time organism but will come under the ASDA brand by mid-2011.6ASDA is continuously promoting its brand strategy and has announced that its customers will benefit from low prices on a significantly broader range of quality products, complemented by the wide range of services ASDA offer at all their small stores (ASDA Chief Executive Andy Clarke).ASDA brand George was bought by ASDA in 1995, George was started in 1990 by George Davies and it was the first supermarket clothing brand. Thus George grew and become the largest clothing retailer by volume in the UK today. This brand is also traded internationally by Wal-Mart.RESEARCH OBJECTIVESThe core idea of this research to analyze the different strategies ASDA is using for its branding to compete with all the supermarkets within UK to capture a large portion of market share in retail and other relative industries. This research will also throw light on the movers to identify how these branding strategies affect customers behaviour and why they chose ASDA as compare to all other supermarkets in UK.Without an appropriate set of objectives, you can end up not only with a misguided strategy, but with an unrealistic set of goals. Increasing brand awareness for a product that already has a baseline awareness of 99 percent, for example, can be virtually impossible. If you set the wrong objectives, you set yourself up for failure (Graham 2001).7This research will emphasize the practices of ASDAs brand objectives how ASDA is using its branding to get customers loyalty and trust within the competitive market where its main rivals TESCO, Sainsbury, Morison, Marks Spenser are operating side by side as vigorous competitor.ASDAs brand objectives are that it is comprised of ASDAs personality, image, core competencies and characteristics. ASDAs basic framework of its brand is to pursue to put an impression on its customers that describe the company to other people. ASDA is following the strategy of its branding to fortify a strong credibility and have more influence on the market and to motivate customers to shop at ASDAs stores. ASDAs objectives are to be looked as a leader and not as a follower.I will explore and find out that how ASDA is defining its objectives with specific timelines and how it has been developing plans of action to come upon those objectives.RESEARCH QUESTIONSWhy branding is important and what ASDA wants from its brand to do?What does ASDA wants others to know and say about its products?How ASDA can retain its top ranking position in the UK retail market?RESEARCH AIMSIdentify different retail brands in UKIdentify current branding strategy of ASDAReview market share of ASDA in UK retail marketAnalysis of competitors of ASDAStudy o f future practices of ASDARecommend improved strategy for ASDA to retain its top ranking position in the UK retail market. literature REVIEWThe central concern of brand building literature getd a dramatic shift in the last decade. Branding and the role of brands, as traditionally understood, were subject to constant review and redefinition. A traditional definition of a brand was the name, associated with one or more items in the product line, which is used to identify the source of character of the item(s) (Kotler 2000, p. 396).A literature review is very important and critical for the justification of the proposed research in order to find out different factors to identify the research area and to clarify questions of the chosen research topic (Saunders, 2007).Aaker and Joachmisthaler (2000) argued the traditional branding model where a brand management team was liable for creating and coordinating the brands management program. In these circumstances, the brand manager was not h igh in the companys hierarchy his focus was the short-term financial results of hit brands and single products in single markets.The basic objective was the coordination with the manufacturing and sales departments in order to solve any problem concerning sales and market share. With this strategy the responsibility of the brand was solely the concern of the marketing department (Davis 2002). In general, most companies thought that focusing on the latest and greatest advertising campaign meant focusing on the brand (Davis and Dunn 2002). The model itself was tactical and reactive rather than strategic and visionary (Aaker and Joachimsthaler 2000). The brand was al centerings referred to as a series of tactics and never interchangeable strategy (Davis and Dunn 2002).Brand is defined as a name, term, symbol, design or any other feature or a combination of any of them. Branding is used to define, or is proposed to identify the goods or services of one seller and distinct it from thos e of other sellers. Branding helps to differentiate ones service from those of its competitors. It plays vital role in assessment of product and can add value to a product. It is therefore an intimate aspect of product strategy. Therefore In developing a marketing strategy for individual products, the seller has to tackle the issue of branding.According to Peter Doyle Brands are at the very heart of marketing. When a company creates a strong brand it attracts customers preference and builds a defensive wall against competition.Marketers and sellers make different strategies for their products and most of these are associated with branding. These decisions include how to create brands, how to choose brand names, brand marks, trademarks and trade names. A brand may identify one item, a family of items or all items of that seller.Brand loyalty is an integral part of building a brand, as consumers usually have a choice of products in the same market segment, and so a successful company will use a way to keep consumers re-buying their product or coming back to their stores rather than going to their competitor. These brand loyalty-building efforts may come in the form of coupons and incentives such as some(prenominal) grocery chains use a technique of grocery discount cards or loss leaders, meant to draw consumers into the store, where they will hopefully buy products at discounted fare with a higher profit ratio (Kumar 2010).8SOURCES TO BE USED FOR DATAI will be using different scholars books written in different countries on branding, why it is important and work of researcher all over the world in this field. As branding is the most important factor of any business, organisation, product or service so there is a lot of information on the internet, daybooks and newspapers. Proper references from all the sources will be include in my work.I will also be conducting interviews from different Managers of ASDA, TESCO and Sainsbury including some customers in the st ores to get much information regarding my subject and a practical experience which will help me writing a good conclusion to my proposed work.selective information accumulation will consist of surveys, interviews and observation with ASDA Managers, employees and customers as well as journal logs from scholars. As suggested by Prof. Francis Knox I am planning to conduct multiple interviews with each participant in order to provide more in-depth data collection and opportunities for follow-up. I will utilize a qualitative evaluation for this research project leveraging subjective methods such as interviews and observations to collect substantive and pertinent data. I hope that such a qualitative approach will be valuable here due to the varying experiences of the Managers and customers visiting ASDA. Recent research on subject matter will also be consulted to validate collected data.DATA ANALYSISData analysis is an important part of any topic as it gives an outline and understanding of the subject. In the same way I will analyse the collected data by comparing it with all the other competitors of ASDA to find out how ASDA is benefiting from its branding strategies and objectives. I believe that data analysis shows the different things discussed in topic and which one is most suitable and affirmatory according to the situation. Data can be collected from various sources and its analysis gives understanding and shape to the topic or field of interest.Collect necessary Data to answer questionsAnalyse DataCreating strategies to use resultsReporting out on recommendations and conclusionRESEARCH METHODOLIGIESMy research methodological analysis requires gathering relevant data from the scholars books, online journals, newspapers and internet and to compile the databases in order to analyze the material and to arrive at a more complete understanding of the importance of branding of a company or a product.The following chart can best represent how research methodology workSource http//www.clientopinions.com/pages/11/Research-Methodology/My speaking would be establish upon primary and secondary sets of information in stock(predicate) on branding within supermarkets and my research work will be based upon both qualitative and three-figure data, for example exploring the work of researcher on branding importance for supermarkets and conducting interviews with relevant employees working as Managers and customers of ASDA supermarket.In this research I will also include the current trends of branding in different countries of the world and especially in the UK. Questionnaires carried out during my research will help me to get the facts how big chains of supermarkets and other organisations are using their brand image to get a large portion of their respective markets.On the radix of all the relevant information available branding evaluation and conclusion will be carried out. The evaluation and conclusion will also include how and why ASDA brandin g is better comparing to its competitors and how ASDA can better use their branding strategy all over the world.The research approach is also constructive (Jarvinen 1999, Olkkonen 1993). The positivistic approach would have required a quantitative analysis of the system (Takala Helo 2000) which would be very difficult to accomplish without disclosing some confidential business information.9This nature of research is a process of purpose information analyzing, interpreting information to deal with questions which must have certain characteristics like be controlled, systematic, rigorous, valid and critical.My research will ideally be rivet on primary and secondary research on ASDA brand name and image, which will enable me to get adequate knowledge and with the help of this awareness I will work on my dissertation with no trouble. I will be able to investigate the advantages of branding and will find out what can be the problems using a brand name/images in a most competitive mark et for a company.During this research proposal I strand out that there is plenty of information available in the journals, books and on the internet specifically for ASDA and I will use that information in the dissertation to make it more clear and acceptable. With the help of this provided information I would be able to present this in a theoretical form including data chart, comparison diagrams etc, which will help to understand my subject simply.As mentioned earlier that brand is a most important tool for any company, product or service. There are so many products in the market who do not have proper brand name or image and these products disappear from the shelves aft(prenominal) sometime. So in my research work I will explore few of those products and will compare the quality and price to ASDAs similar products, as this examine will discover the importance of branding.EXPECTED OUTCOMESI consider that after having a detail study on brand name/image and its importance in the r etail market and research on branding strategy of ASDA and its implementation, it will be helpful for me to suggest how ASDA can improve itself amongst its competitors in the United Kingdom.As we all know that branding is perhaps the most important fact of any business, beyond product, distribution, pricing and location for any company and this build a tangible trust and loyalty amongst the customers. Brand loyalty is an essential part of building a brand name/image as customers usually have a choice of similar products in the same market segment so a successful company like ASDA will come up with a way to keep customers re-buying their products or coming back to their store again and again rather than going to its competitors. During my dissertation while conducting different interviews and surveys I will find out how ASDA is successfully implementing its branding strategy and how it can more effectively improve this with my field work on this specific topic.So I conclude this prop osal with acknowledging that if brand name is used properly, ASDA can keep the large share of the market. ASDA brand name is Saving you specie every day, so as far ASDA is fulfilling the requirement of its brand name, there is no doubt that this big chain of supermarket will continue enjoying a large portion of the market share in the United Kingdom. During my research proposal I have found out that ASDA has improved its operations and thus it become the second largest supermarket in the United Kingdom and this is only because it has its long term branding strategies which reviewed on regular basis and the market is compared on weekly basis on the prices and quality of the product being sold at the similar stores in the country.SCHEDULE (DAILY TIME TABLE)Dissertation Working ProcessStart visitFinish Date1. Introduction and history01-01-201102-01-20112. Finalising aims/objectives and questionnaire04-01-201106-01-20113. Draft a complete version of Literature review08-01-201111-01-20 114. Finalise Literature review13-01-201017-01-20115. Revisit the methodology Literature20-01-201124-01-20116. Finalising the research approach26-01-201130-01-20117. Finalising research strategy and method01-02-201103-02-20118. Finalising questionnaire and interviews05-02-201108-02-20119. Entering and analysing the data10-02-201112-02-201110. Update Literature if necessary14-02-201115-02-201111. Completing the remaining work17-02-201118-02-201112. edict the draft make amendments format for submission20-02-201122-02-201113. Write Reflective Document / add at the end of dissertation24-02-201126-02-201114. Submit DissertationPossible forbearance Date 31-03-2011