Question

Distssliist View Topic Settings Help Discussion 3- Marketing Mix and Plan Locked after Monday, September 16, 2019 11:59 PM EDT Subscribe Branding is an important component of marketing a product and/or service. Identify a well- known public figure and discuss his or her brand. How has this individual enhanced this brand? How has he or she damaged it? Based on your understanding of the chapter readings, how would you explain the impact of having a negative or positive brand image? You must demonstrate not only that you understand the subject matter but also that you can apply what you have learned, analyze it, integrate it with knowledge you already have, and evaluate it critically.Your postings should be appropriate and timely contributions that add value to the discussion. If you post after the due dates, the post will not be counted. You must reply to at least two of your peers to get full credit for the discussion. Start a New Thread Sort by: Filter by: All Threads Most Recent Activity

Answer 1

BRANDING

Branding is the process of giving your product or service a unique identity through a name, a symbol or a logo that helps to differentiate your brand from the competitors and provides an advantage over them.

IMPORTANCE OF BRANDING

1. Brand recognition
It helps in spreading awareness about your brand and thereby increasing the recognition of your brand in the industry. The logo plays an essential role here as customers and potential customers recognise the brand through that.

2. Increases business value
In order to generate revenue, branding helps to increase a business' value.

3. Generates new customers
As branding spreads awareness and more people come to know about the brand, it leads to generation of new customers for the product or service.

4. Creates trust within the marketplace
A well strategised branding helps in building trust in the marketplace as well as amongst the employees of the organisation.

KYLIE COSMETICS

It is a cosmetics company based in the United States of America owned by the infamous Kylie Jenner.  It was earlier known as Kylie Lip Kits, when the brand only sold lip kits in it's initial stage. Kylie Lip Kits was later renamed as Kylie Cosmetics in 2016.

ENHANCEMENTS BY KYLIE JENNER

1. Kylie Jenner has enhanced her brand with the help of collaborations with other famous celebrities such as Khloe Kardashian, Kim Kardashian and Kourtney Kardashian.

2. Kylie cosmetics has a high dependance on social media. Through social media platforms, specially Instagram, the brand and the CEO, Kylie earn a lot of money, fame and recognition.

DAMAGES BY KYLIE JENNER

1. Kylie Cosmetics got a lot of backlash from it's customers when Kylie launched 16 luxury makeup brushes as a set for a price at $360. Later, they slashed the prices.

2. The company received a lot of negative comments when consumers alleged that the celebrity owned Kylie Cosmetics was copying products of Rihanna's cosmetics line Fenty Beauty.