2.Go to the home page for BrandZ at www.brandz.com, and click on “BrandZ Reports
ID: 366063 • Letter: 2
Question
2.Go to the home page for BrandZ at www.brandz.com, and click on “BrandZ Reports,” then select the Top 100 Global Brands Report. On the basis of this report, list the top 20 global retail brands. In two or three paragraphs, describe what makes a strong retail brand. How were brand equity and financial performance used to measure brand value for these retailers?
3.Retailers and manufacturers deliver coupons through the Internet in addition to delivering them by mail or as inserts. Go to retailmenot.com for coupons offered over the Internet. How does this coupon distribution system compare with the other two distribution systems?
4.Trader Joe’s is a gourmet grocery store offering items such as health foods, organic produce, and nutritional supplements. The company has nearly 400 stores in 37 states at which it offers more than 2,000 private-label products. Go to www.traderjoes.com, and see how the firm uses its Internet site to promote its retail stores and merchandise. Why does this retailer include recipes and a seasonal guide on its website? Does the information provided on the web page reinforce the store’s upscale grocery image? Explain why or why not.
Answers must be substantive and reflect an understanding of the concepts presented. Complete answers will require three to five sentences.
Explanation / Answer
Answer for the FIRST question:
LIST OF TOP RETAIL BRANDS BASED ON BRANDZ REPORT 2017
In the year 2017, only 9 retail brands got their place in TOP 100 MOST VALUABLE BRANDS 2017 report.
1. AMAZON
2. ALIBABA GROUP
3. THE HOME DEPOT
4. WALMART
5. IKEA
6. COSTCO
7. LOWE'S
8. EBAY
9. ALDI.
Retail is a tough business to crack. Not only it is a crowded space, but tons of products are commoditised, many consumers seem to want the lowest price, and gaining customer loyalty is no piece of cake.But despite these challenges, several companies still manage to thrive. And some of them have secured such a loyal following that customers choose to buy from them despite cheaper alternatives by building strong brand image.
What makes a strong retail brand?
1. Humanising your Brand
The company should Interact and communicate with the consumer like a fellow human being through advertisement and other media.
2. Consistency in Customer service
The firm must ensure that the products and services provided by them must satisfy the customers in all aspects such showrrom experience, online shopping experience, customer support services stc.... If the customer is dissatisfied in any one aspect the company may lot its brand value.
3. Involving customers in business
The firm should involve customers in taking major busines decisions so as to create a bond with them.:A great example of a company that included its customers in brand building is Toyota. A few years ago, the automaker turned to the public to help them decide the plural term for their hybrid car, the Prius. They conducted a poll, and in the end, went with the term with the most votes. Starbucks is also doing great things with customer involvement. The company has a site called MyStarbucksIdea.com where it allows customers to submit ideas and comment on other people’s submissions. Starbucks welcomes all types of input, whether it’s a suggestion for a new drink, in-store experience, or initiative in corporate social responsibility.
4. Inducing Customer emotion
The firm should induce the emotion of their customers through advertising and marketing campaigns. Consider Dove. The soap company regularly puts out heartfelt campaigns geared towards its target audience (women), and this has helped Dove become one of the top soap brands in the market.
Brand Equity
It refers to the commercial value derived from customer perception of the brand and not the actual product.
Both brand equity and financial performance are the major indicators of Brand value of a company as it reflects the customer perception and the actual financial benefits to the company. These two indicators were commonly used to rank brands
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