Marketing Case Study Of Waitrose

A brand is a name, term, design, symbol, or any other feature that identifies one seller 's good or service

The value chain, made by Michael Porter, is really important to see how a company structure is created. The value chain is constituted by two parts: support activities (firm infrastructure, human resource management, technology development, procurement) and primary activities (inbound logistic, operations, outbound logistic, marketing and sales, service). (Johnson et al. 2011, p.97-99)

A brand is an organisation, product or service which has created an emotional connection with their consumers in order for them to favour their brand over their competitors. It is incredibly important for brands to keep up their image and one little thing could change the global perception of a business. It takes a lot to maintain a brand image that has been built up over a long period of time and even more to regain it if that reputation is lost. Brands are created through various different aspects such as their visuals, tone of voice, advertising, actions and reputation. The combination of these will leave their consumers with long lasting emotions and perceptions of a particular brand and will effect whether they support a business or not and whether they would favour or avoid it. When a brand looses their image it can cost a lot of money and time to rebrand to prevent complete failure of the product or service.

Brand- is a name, term, design, symbol, or other feature that separates an organization or product from its challengers in the judgments of the customer. Brands are used in business, marketing, and advertising.

According to the American Marketing Association (AMA), a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition”. However, as Keller highlights, a brand is also “something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace”. Therefore, a brand is an identity created to differentiate itself from the competitors and to be remembered in consumer’s mind.

The “value system” is also referred to as the “industry value chain”. The term value system underlines the fact that activities are not necessarily organised in a linear fashion, but viewing the activities that make up the final product as a chain is also useful and underlines the linkage between the concept of the “value chain” and the “value system”.

Porter (1985) earned international fame by offering a very comprehensive and insightful overview of the value chain. He took a process view of organizations and perceived organizations as being, for all intents and purposes, a system (with sub-systems and even further sub-systems) that take inputs and transform them into outputs. There are transformational processes that manifest themselves all along the value chain and, ultimately, can determine cost and profit outcomes. The acquisition of resources, and the consumption of resources, largely determines how an organization finds value and optimizes it. In the view of Porter (1985), the

Many theories have been proposed to explain and indicate how value can be added through a business’s activities and operations. This section will represent the literature review and theoretical background of the value chain analysis approach. For this approach a brief overview and summary will be discussed in the paragraphs to follow. Although available literature covers a wide variety of such theories, this review will focus on Porter’s Value Chain. The theme of Porter’s value chain will emerge repeatedly throughout the literature reviewed. The abovementioned topic is represented in a variety of literature contexts, this paper will primarily focus on the value that can be added through using Porter’s Value chain for analysing this.

The idea of the value chain is based on the process view of organizations, the idea of seeing a manufacturing (or service) organization as a system, made up of subsystems each with inputs, transformation processes and outputs. Inputs, transformation processes, and outputs involve the acquisition and consumption of resources - money,

A value chain is a set of activities that organizations carry out to create value for their customers. Porter proposed a general-purpose value chain that companies can use to examine all of

First suggested by Michael Porter, the value chain is defined as internal processes or activities a firm performs “to design, produce, market, deliver and support its product” (IMA, 1996, p.1). How the firm’s value chain performs its activities is a reflection of “its history, its strategy, its approach to implementing its strategy, and the underlying economies of the activities themselves” (p.1). Achieving a competitive advantage starts with a clear view of the current performance of the value chain. Porter’s value chain approach aid firms in identifying the areas in which they can derive the most benefit from analytics and operations research. By dividing the firm’s activities into two main categories (primary and support activities), a firm can analyze the interdependent activities as well as the linkages that connect these activities. According to Porter, “careful management of linkages is often a powerful source of competitive advantage because of the difficulty rivals have in perceiving them…” (Poppelaars, 2013). The net result of the value chain is the creation of margin potential which translates into a competitive advantage.

In accordance with assorted definitions of brands, two approaches of defining a brand are derived. The traditional one is a practical view which articulates a brand as a product identifier, including the source of the product (Aaker, 99 ). According to him, “a brand is a distinguishing name and/or symbol which intended to identify the goods, services of either one seller or group of sellers and to differentiate those goods or services from those of competitors”. Another approach, as holistic view, presents a brand as more than just the product (Styles & Ambler, 995).

Branding: It is the bond of relationship and faith between the company and the consumer. A brand can be identified only when it is made more familiar within the market place; it can be the strategic way of introducing a product or a service.

Value chain analysis has proven to be a useful tool for knowing how an organization can create the greatest value for its customers. Michael Porter (1985) in his book competitive advantage states that “understanding how a business creates value are essential elements for developing a competitive advantage.” [1]. According to porter (1985) value chain is “the process view of an organization, the idea of seeing an organization as a system, made up of subsystems each with inputs, transformation processes and outputs.” [2]. Porter argued further that transforming inputs into outputs involves acquisition and consumption of resources like money, labor, materials, equipment, land, administration and management. Porter highlighted further that the way value chain activities are carried out determines costs and affects the profitability of a business. A much broader definition of a value chain is given by globalvaluechains.org, according to globalvaluechains.org; value chain is defined as the “full range of activities that firms and workers do to bring a product from its conception to its end use.” Globalvaluechains.org states further that the main activities that make up a value chain includes product design, production, marketing, distribution and support to customers. Porter divided business activities of traditional organizations into two main categories; primary activities and secondary activities. The primary activities are directly linked to transforming inputs

A brand is also a kind of promise. It is a set of fundamental principles as understood by anyone who comes into contact with a company. A brand is an organization's "reason for being." It is how that reason is expressed through the various communications to its key audiences, including customers, shareholders, employees, and analysts. A brand should also represent the desired attributes of a company's products, services, and initiatives. Many businesses try but fail to create a successful brand. Here are ten of the most common mistakes: