Please see the below information for week 5 paperwork one: Week 5 Collaboration Individual Summary By tuesday (04 July 2017) For your Individual Summary, post a summary of approximately 250 words of what you have learned from this Collaboration, addressing the following questions: How can marketers use knowledge of consumer and organisational buying behaviour to maximize their organisation’s ability to achieve strategic goals? What are the benefits and challenges of building strong brands? Which tools and channels seemed to be the most useful, and why? Readings Module Text Kotler, P. & Keller, K.L. (2012) Framework for marketing management. 5th edition. Upper Saddle River, NJ: Pearson Prentice Hall. Chapter 8, ‘Creating brand equity’ Chapter 9, ‘Crafting the brand positioning and competing effectively’ Journal -Cova, B. & Pace, S. (2006) ‘Brand community of convenience products: new forms of customer empowerment—the case of “my Nutella the community”’, European Journal of Marketing, 40 (9/10), pp. 1087-1105. -Fournier, S. (1998) ‘Consumers and their brands: developing relationships theory in consumer research’, Journal of Consumer Research, 24 (4), pp. 343-373. -Holt, D.B. (2002) ‘Why do brands cause trouble? A dialectical theory of consumer culture and branding’, Journal of Consumer Research, 29 (1), pp. 70-90. -McAlexander, J.H., Schouten, J.W. &Koening, H.F. (2002) ‘Building brand communities’, Journal of Marketing, 66 (1), pp. 38–54.

    Collaboration Individual Summary

    The notice of consumer and constructional buying comportment is a accurate existence to trafficers as it helps tend mark of the movables dissipations and dissection of what is in exalted claim. Understanding the consumer and construction’s buying comportment can be used to repress the supply that constructions construct depending on the traffic trends and claim (Kotler & Keller, 2012). Trafficers can traffic unfailing movables to consumers past than other emanations imputable to their claim in the traffic creating past awareness, hence, increased sales. In alter, constructions endure to construct past sales which contact to the realization of the strategic goals of the construction.

    Construction a tenacious infamy has intimate benefits to companies by intensifying emanations awareness and self-assertion of character shapeless the consumers. These benefits grasp customer confession which usually comes up whenever a customer intends to dissipation unfailing emanation or benefit (Cova & Pace, 2006). Also, the tenacious infamy provides a aggregation with a competitive laterality in the traffic. It also gives a aggregation an easier path to introducing a innovating emanation to the traffic. As well-mannered-mannered, assures customer fealty and credibility of the aggregation’s emanations.

    On the adverse, there are questions associated with construction a tenacious infamy control the aggregation including the terse timing of the aggregation to bring-in innovating emanations (Holt, 2002). Also, tenacious infamys visage the question of possessing a compelling prospect, power to imagine innovating subcategories, repress infamy relation, as well-mannered-mannered-mannered as, treating infamy as proceeds.

    The most adapted tools utilized in infamying in the contemporary interest involves the digital space to affirm the innovativeness of the emanations and uniqueness shapeless the competitors (McAlexander et al., 2002). This is owing digital space possess the power to gain comprehensive customer worthiest. Hence, contacts in the invention of a tenacious infamy to global consumer’s worthiest.

    References

    Cova, B. & Pace, S. (2006) ‘Infamy commonwealth of vacation emanations: innovating controlms of customer empowerment—the contingency of “my Nutella the commonwealth”’, European Journal of Trafficing, 40 (9/10), pp. 1087-1105.

    Holt, D.B. (2002) ‘Why do infamys origin adversity? A dialectical doctrine of consumer amelioration and infamying’, Journal of Consumer Research, 29 (1), pp. 70-90.

    Kotler, P. & Keller, K.L. (2012) Framework control trafficing management. 5th edition. Upper Saddle River, NJ: Pearson Prentice Hall.

    McAlexander, J.H., Schouten, J.W. &Koening, H.F. (2002) ‘Construction infamy communities’, Journal of Trafficing, 66 (1), pp. 38–54.