Saturday, October 12, 2019
Medicine and Drugs - Direct to Consumer Pharmaceutical Marketing Essay
The Problems of Direct to Consumer Pharmaceutical Marketing à à à à In 1997, the Food and Drug Administration relaxed its restrictions on direct-to-consumer marketing of pharmaceuticals. Prior to this ruling, drug manufacturers were prohibited from mentioning both the name of the drug and its indications in consumer-directed advertisements without also including a large amount of technical information about the drug, including all known side effects, contraindications, and dosage recommendations (Stevens, 1998). In addition to interfering with the appeal of the advertisements, such requirements rendered broadcast ads infeasible due to time constraints, and hindered ads in print media due to cost and space availability. These requirements were abolished in the 1997 FDA policy changes, and pharmaceutical companies were permitted to market drugs by name as treatments for specific conditions, with the minimal requirement that ads give mention to major risks identified in clinical trials (Melillo, 2001). As a result, manufacturer expenditures on direct-to-consumer advertising, which totaled $791 million in 1996, rose to $2.6 billion for the year 2000 (Mitchell, 2001). Television, radio, and print media became saturated with ads promoting treatments for conditions ranging from depression to high cholesterol. Names such as Zoloft, Claritin, and Lipitor, which were previously known mostly to health professionals, quickly became part of the national vocabulary. Consequently, spending on prescription drugs has increased significantly over the past several years as consumers are enticed to seek advertised medications (HealthBizNews.com, 2001). à This new face of drug marketing has sparked a raging debate about the accompanying e... ...e of drug advertising?" Business Week. May 22, 2000. p52. Melillo, Wendy. "Direct-to-Consumer Drug Advertising Under Fire Senate to Determine if Such Work Hikes Prescription Costs." Adweek. May 21, 2001. Mitchell, Steve. "Drug advertising raises concerns." www.msnbc.com. 2001. Miller, Susan. "Rx view: DTC Ads Provide the Right Prescription." Brandweek. June 2 29, 1998. "Selling Drugs." American Demographics. January, 1998. p. 26. Shapiro, Joseph and S. Schultz. "Prescriptions: How your doctor makes the choice." US News and World Report. February 19, 2001. p. 58. Stevens, Tim. "To Your Health." Industry Week. September 7, 1998. p. 56. "Subcommittee Hears Debate on Cosumer Drug Advertising." www.healthbiznews.com. 2000. Tanner, Lindsey. "Health and Science: Doctors propose ban on drug advertising." Nando Times. www.nando.net. June 18, 2001.
Friday, October 11, 2019
Human as a Complex Unit of Life Essay
The human body is a complex system of cells, most of which are grouped into organ systems that have specialized functions. These systems can best be understood in terms of the essential functions they serve: deriving energy from food, protection against injury, internal coordination, and reproduction. The continual need for energy engages the senses and skeletal muscles in obtaining food, the digestive system in breaking food down into usable compounds and in disposing of undigested food materials, the lungs in providing oxygen for combustion of food and discharging the carbon dioxide produced, the urinary system for disposing of other dissolved waste products of cell activity, the skin and lungs for getting rid of excess heat (into which most of the energy in food eventually degrades), and the circulatory system for moving all these substances to or from cells where they are needed or produced. Like all organisms, humans have the means of protecting themselves. Self-protection involves using the senses in detecting danger, the hormone system in stimulating the heart and gaining access to emergency energy supplies, and the muscles in escape or defense. The skin provides a shield against harmful substances and organisms, such as bacteria and parasites. The immune system provides protection against the substances that do gain entrance into the body and against cancerous cells that develop spontaneously in the body. The nervous system plays an especially important role in survival; it makes possible the kind of learning humans need to cope with changes in their environment. The internal control required for managing and coordinating these complex systems is carried out by the brain and nervous system in conjunction with the hormone-excreting glands. The electrical and chemical signals carried by nerves and hormones integrate the body as a whole. The many cross-influences between the hormones and nerves give rise to a system of coordinated cycles in almost all body functions. Nerves can excite some glands to excrete hormones, some hormones affect brain cells, the brain itself releases hormones that affect human behavior, and hormones are involved in transmitting signals between nerve cells. Certain drugsââ¬âlegal and illegalââ¬âcan affect the human body and brain by mimicking or blocking the hormones and neurotransmitters produced by the hormonal and nervous systems. Reproduction ensures continuation of the species. The sexual urge is biologically driven, but how that drive is manifested among humans is determined by psychological and cultural factors. Sense organs and hormones are involved, as well as the internal and external sex organs themselves. The fact that sexual reproduction produces a greater genetic variation by mixing the genes of the parents plays a key role in evolution.
Thursday, October 10, 2019
Pathological gambling intervention Essay
When looking at pathological gambling we ask ourselves how someone gets to the point of addiction. In that regard there are both internal and external factors, beahior and environment related aspects leading to someoneââ¬â¢s impulsive urge to gamble. Speaking of which, impulsivity can be a direct factor of a pathological gambler, Impulsive people are naturally more prone to gambling problems because of their nature and personality. That is not to say that all impulsive people will develop gambling habits or problems but they could if the right factors were in play at the right times. Inability to control impulses and also inability to delay gratification are two major impulsivity-related symptoms of pathological gamblers (McCormick & Taber, 1988). Other behavior factors include, coping strategies, high stress levels, family history, gender as males tend to be more prone to this affliction and ââ¬Å"Pathological gamblers have been known to also exhibit antisocial behavior which is related to the impulse control disorder causing antisocial behavior such as exhibited in antisocial personality disorderâ⬠(Slutske et al. , 2001). The environment one grows up in Also plays a valuable role in understanding gambling. Itââ¬â¢s a common misconception that pathological gamblers are only those that are near major casinos. That can be a tendency but in todays society technology has opened the door to universal in gambling before impossible. With computers and the internet people are now able to gamble straight from their homes on sports, online poker, etc. This boom in technology has allowed more people, from more places and economic statuses and younger ages be able to easily get involved in gambling. Our group even met a professional gambler who would have all of his bets placed on his computer before noon and then do nothing the rest of the day. Technology has extended the reach of gambling to social circles that before may have not been affected. Predisposing, Reinforcing, Enabling Factors Predisposing factors are what set someone up with the highest chances of being a pathological gambler. An addictive personality makes anyone more susceptible as well as having addictions or just gambling itself run in the family. A persons level of impulsivity is also a huge factor, an impulsive person is more likely to give into reckless decisions and follow the activities that give a rush sensation. Impulsive people have problems with delaying gratification making addictive and compulsive tendencies stand out. â⬠Pathological gambling is a problem of impulse control. The more accessible gambling is, the harder it is to maintain the control. â⬠(3) Predisposing factors can also be socioeconomic status, does one have the funds to feed the addiction, or did one one grow up in rough situations and use gambling as a crutch or coping strategy, the factors are vast and varying. Environment as brought up by the last quotation can also be a predisposing factor. Does one have access and how easily plays into an addiction. The closer one is to gambling the more likely they will partake. That used to entail how close someone was to casinos or legal areas of gambling and in many cases still does as more areas are becoming gambling friendly and more funerals pop up in for example, Oklahoma, Louisiana and Missouri, However with technology and the internet, access has become easier for all regardless, of location, sex, race, or economic status. With gambling there are different stages, stages that can reinforce the behavior because despite popular belief many gamblers are reinforced even when they donââ¬â¢t win. ââ¬Å"WINNING PHASE Here the gambler is winning more than losing, has achieved a minimum of one big win. This early big win, bolsters the confidence of the gambler, causing ego to inflate, superior thinking and feeling over other participants. The gambler in this phase begins to spend more time gambling, is gambling for and with larger amounts of money. Winning streak begins to wane, losses start. LOSING PHASE In the losing phase, the gambler begins betting even larger amounts. The gambler accepts the fact that these losses are part of the game. The gambler bets on the long shots, knowing chances are not good for winning, however will pay big if win occurs. The gambler is now losing more than winning. In an attempt to gain back the money lost, the gambler spends more time gambling. Gambler must frequently lie to family, friends, employer, even casinos to convince them that the gambler is still a happy person and all around good person. Deep financial troubles begin. Using lying techniques, the gambler is able to convince employer, family, etc. , of some type of cataclysmic disaster, which requires a borrowing of large amounts of money. Soon the gambler is using this bailout to gamble more. The gambler life has now become unmanageable, family life is increasingly difficult, with deterioration occurring. DESPERATION PHASE During this phase, the majority of the gamblerââ¬â¢s time is preoccupied with gambling on all levels. The gambler has no control over the gambling, to alleviate the inner pain, the gambler gambles, knowing the odds of wining are gone, and it does not matter. Lying is out of control. The gambler has one focus and one goalâ⬠¦get money in which to gamble with regardless of costs. Family life has deteriorated to the point of non-existence. Illegal activity is now a norm. â⬠(paraphrased from Journal of Addictive Disorders) These phases help explain the reinforcement of pathological gambling along with more well known factor such as the adrenaline rush, the gamblers fallacy, instant gratification and payout. Enabling factors help keep a pathological gambler stuck in their ways and should be avoided as much as possible. Enabling factors can include dwelling on regrets, the focus of couldââ¬â¢ve beens. (Pathological Gambling Resources) Looking for quick fixes for gambling addiction can also end up making the problem worse, pathological gambling is an illness that needs in depth treatment and support to be overcome, not a quickfix as those never entail the lifestyle change necessary to change an addicts life. Excluding those afflicted from normal activities or interactions as punishment or a means to help is also a counter intuitive strategy, Addicts need love and support and pushing them away may only compound upon the problem. Furthermore ââ¬Å"Enabling is when you do anything that helps the gambler to continue with his addiction. For example, if you pay his bills for him, lend or give him money, you become an enabler. If you lie to help him cover his lies, you are an enabler. Or if you offer ultimatums in order to control his behavior, you are an enabler. Even if you in any way, directly or indirectly, make it easier for him to continue with his compulsive gambling, you are an enabler. â⬠(Nguyen) Just like an accomplice is guilty in a murder an enabler is guilty through association. Although these may relieve the problem temporarily in some situations, it is always adding to the problem and hurting the addict. Goals And Objectives Our goals are a little more long-term related and the objectives are more specific short term goals. We are focusing more on educational endeavors for the families and friends of the afflicted as this builds the supportive environment necessary to truly help pathological gamblers. Our goals will focus on creating an increase in awareness in the Austin area of pathological gambling, itââ¬â¢s causes and effects, on individuals as well as the community as a whole. We want to create larger supportive environment in the community through the families and friends of the afflicted primarily through educational and awareness increase regimes. As well as provide increase in overall education on the matter for the community, even those not directly affected. As previously mnetioned these goals are broad and wide reaching. Our objectives however are more specific. We want to introduce educational, communication and family based interventions for the increase in awareness of pathological gambling. We will also work with the community and families to ensure interventions are done correctly and effectively fulfilling the needs of the afflicted and their loved ones. Finally but not least in importance we want to gain access to funding and support that will help establish effective educational based, wide reaching and successful intervention programs and learning processes.
Coca-Cola Company Essay
Environment is an important aspect in our lives, allover the world, concerns are being raised on how the world can have a sustainable environment. Companies are under pressure to come up with programs that support environment. For the purpose of this paper we are going to examine the Coca-Cola Company environmental programs and polices. Coca-Cola Company is a multinational company that is well known for its production of carbonated soft drinks that are sold in over 200 countries allover the world. Coke soft drinks are sold in stores, vending machines and in restaurants. According to business week, coke is the most recognized brand from the company. This paper is going to analyze the environment issues that impact the company. Many nutritionists argue that soft drinks from Coca-Cola and other companies are harmful when consumed in access especially by the young ones, who may take a lot of soft drinks at the expense of a balanced diet. Studies indicate that those who regularly take soft drinks do have lesser calcium intakes in their body systems. The coca cola company in India has come under a big controversy that concerns pesticides together with other dangerous chemicals that purported to find in the bottled products from the company. In the year 2003, center for Science and Environment (CSE) which is a non governmental organization based in New Delhi, reported that aerated waters that were being produced in India by multinational big companies such as coca-cola, did contain toxins. These toxins included DDT, lindane, Malathion and chlorpyrifors, which can contribute greatly to cancer and also the breakdown of an individual immune system. Among products that were tested was coke which has found to have 30 times the amount of pesticide remains that is allowed by the European Union regulations. This lead to formation of a parliamentary committee that was given mandate to develop pesticide levels for soft drinks; this was first of its kind in the world. The company response was its products are well filtered in order to remove any potential contaminants before being marketed and that the normal have a minimum level of pesticides as required by health standards. In the sate of Kerala in India, sell of Coca-Cola products together with other soft drinks was banned, until the high overruled the decision. Suppliers Coca-Cola Company has a policy with its suppliers to follows all international and national laws that encourage ethical business dealing. The company has built its reputation on trust, respect and integrates. The company promotes the principles of human rights, shun child labor and encourage environmental conservations practices. The Coca-Cola Company has several supplies who supplies various material to the company that are used in production and overall distribution of the company products. (Coca-Cola ââ¬â Our Brands 2007). To start with the company is supplied with aluminum from different supplies coming from different countries. Aluminum is also supplied to the companyââ¬â¢s bottling plants in many parts of the world; it is used for manufacturing of cans and other containers that the company uses in packaging. Other suppliers of the company are farms who grow coco plant, sugar, corn and other plants that are used as raw material by the company. Some companies do enter into dealership with the company of supplying the raw material to the company. Over the years the company has acquired many suppliers as the demand of its products increase. Companies dealing in glass also supply a lot of it to the company as it is used in making of bottles for packaging soft drinks from the company. Effects of demographics Globalization, technology, and population are among key factors that affects the company business. Over a period of three years demographic factors will play an important role on the company sale and overall performance. In line with world growth, it is believed that the world have more aged people than today this is because the birth rate in many countries is falling while at the same time life expectancy is improving. Studies indicate that young people consumer a lot of the company products than the aged ones. In line with this the company may experience slight reduction in consumption of there products. This reduction of consumption may not occur since at the same time the world population is increasing there fore cautioning any decrease that may occur in consumption patterns. Other than aging and population, the company also will have to deal with environmental issues brought about by technology change and global changes. As technology continues to advance, the issue of environment also continues to attract more attention on how viable such technology is. To day people allover the world wants companies which are environmental friendly. Consumers have become more aware of their environment and prefer companies that value the environment and have policies that protect the environment. The company will be affected positively in three years to come if they have embrace technology that sustain environment, if not then the may experience negative effects. Environment and health issues have been a big issue in the company, in 2006 the United States Food and Drug Administration, had to respond to concerns of consumers by carrying out a survey on more 100 soft drinks and also other beverages which established that though, the soft drinks had amount of benzene, it was not a health concern to consumers. The Coca-Cola Company has a vision that seeks to promote sustainable growth and making a positive change in the whole world. In regard to environment the company has made significant and quantifiable progress. The company has integrated environmental issues in its business strategies and decision making methods. As it can be noted the company improved its usage of water ratio by 4%, the energy usage ratio by 5% and the recycling rate went up by 3%. These improvements have a direct benefit to communities where the company operates and to the company stakeholders. However, the company still is undertaking more measures to improve the environment. The company has taken key measures in improving the environment, which focus mainly on environmental performance measures of the company systems. These measures include improving the company operations and improving ways of conducting business which are geared towards minimize environmental effects that the company has. The environment impacts created by the company operations from the company bottling systems are for example sustainable packaging inventiveness, protection of climate and ââ¬Å"eco-freshmentâ⬠, the company has undertaken alternative refrigeration programs that are more environmental friendly. To further improve the environment, Cocacola Corporation has invested a lot in clean technology that fuels the company innovations; this includes the environment board; the company community and watershed schemes; and making partnerships with charity organization, non governmental agencies and peer companies that targets developing solutions that are innovative towards environmental issues. The Coca-Cola Corporation which is a global corporation has a unique challenge in managing the environmental effects to the company business. The corporation has a challenge because it does not own nor manage many of coca cola bottling companies around the world. Thus, these data will examine the corporation environmental management. Water The most essential need for all life forms is water; however accessing safe and clean water has remained dream to many. It is estimated that around 1. 3 billion people allover the world do not reach to clean and safe water. This has a great impact on the environment as a whole. Allover the world, from United Nations to community organizations are working in order to increase access to water, the company is doing its part by protecting and preserving water resources Water is an important factor in management of environment the corporation in line with undertaking sustainable water methods, it improved it water effectiveness by 4% in the year 2005, over three previous years the company has been improving its water efficiency, and the company projects that water efficiency usage will level off soon. To ensure this, the company has undertaken changes in product mix, meaning the growing of tea and coffee products; this is anticipated to make the company productions ways more water concentrated. The management in 2005 did a comprehensive risk analysis of water dangers that face the company systems and host communities in 811 company bottling plants and has continued in improving efficient water use. Wastewater disposal is an issue that the management is addressing by working with bottling partners in the whole world to improve wastewater treatment. In addition, conservation processes have been undertaken by the company and the company is strict on these processes to achieve and even surpasses applicable laws. The management has put up requirements for their bottling plant to have on site an effluent treatment plants that will be used in attaining the goal of increasing water efficiency. The goal of the company is to be 100% water efficiency by the year 2010 (Coca-Cola ââ¬â Our Brands 2007). The company is focusing on other projects that will address the issue of water scarcity in world. At the end of 2005, the company had established around 20 watershed joint ventures with local communities and to help in providing access to clean water and also sanitation services in the communities allover the world where the company have their bottling plants. In line with enhancing access to water the management of the company entered into partnerships with Emory Global center for Safe Water, the United Nations Foundations, Millennium Water Alliance and others in establish Global Water Challenge. This all important combination aim at providing safe water for drinking, improving sanitation together with hygienic education in developing countries. The program depends on collaboration of partners, funding, mobilizing additional partners, and sharing of resources, best practices and expertise. Global Water Challenge has a program Water for Schools which focus on supplying water and also sanitation to many schools in Kenya in nyanza province. There is already great prospective of implementing the same project elsewhere. These efforts greatly enhance environment. Packaging Coca-Cola beverage is taken by people allover the world over 1. 3 times in a day, in order for the company to satisfy this consumption rate, the company depends upon packaging its products in containers. These containers are offer protection and enable distribution of the products to the consumer. The management has been working throughout in enhancing environmental along side social value packaging, by improving designs of containers in order to meet the set standards. In the year 2005 the company made a lot of progress towards achieving sustainable packaging distinction (Coca-Cola ââ¬â Our Brands 2007). The company has pursed environmental friendly way of packing by reducing amount of material used on its can, bottles and polyethylene terephthalate. In 2005 the new technology of the company reduced use of glass by 52, 000 tons annual ii all of its plants in the world. The managed has also managed to reduce the emission of carbon dioxide. In line with keeping the environment clean, the management has come up with recycling systems which are more efficient. An example of such recycling plants is CEMPRE in Brazil. These recycling plants have been used to produce recycled containers which the company reuses. This initiative have gone along way in improving the overall environment as broken bottles and cans used to pause a danger to the environment(Coca-Cola ââ¬â Our Brands 2007). Solid waste and recycling The management of the company is committed in having an efficient lasting waste management that will reduce waste generated in the companyââ¬â¢s plants and facilities. Majority of waste products around 98% is created in the bottling process, the waste products includes products like empty containers, plastics wraps secondary packaging and many more. (Pendergrast 2006). The management makes efforts to reuse or recycle such materials have continued to improve the efficient of managing the wastes. In the year 2005 the company achieved a 3% improvement of waste management from the previous year. The view to the environment this is a positive aspect from the company as waste management has always poised a serious challenge to many manufacturing plants. Energy and climate Global climatic changes and global warming have become an issue of create concern to the world. Companies are requested to reduce the amount of carbon emissions that they emit to the environment. Energy saving is another important issue that is being stressed. In terms of saving energy, the management of the company has developed a sustainable technology of refrigeration. The technology ââ¬Å"eKOfreshmentâ⬠has seen more than 4,000 CO2 refrigerated cooler on the market and a demand for more has already been created. These coolers are much environmental friendly and the company intend to produce more of them slowly by slowly to take over the old ones. In addition the management is introducing new energy management solutions by the year 2010. Today, the company cold drinks apparatus are over 40% more effective than ten years ago. This has reduced the amount of carbon dioxide in the environment by 700,000 tons per year which is same as removing 150,000 vehicles from the roads. In so doing the company has management to improve the environment management (Pendergrast 2000).
Wednesday, October 9, 2019
New Product Management Case Study Example | Topics and Well Written Essays - 2500 words
New Product Management - Case Study Example BlackBerry, other than regular mobile telephone function, simultaneously supports various additional functions like web surfing/browsing, internet based fax, text messaging and e-mailing. BlackBerry works on the wireless data networks of cellular phone service providers and an ordinary mobile phone user will be able to utilise its entire functions by simply buying and switching on it. Originally BlackBerry devices have monochrome displays but soon after successful launch of this model we plan to market next models with color displays. In addition to Personal Digital Assistant (PDA) functions, BlackBerry has its own built in 'thumb-enabled' keyboard for easy operation and use. Our BlackBerry is also able to send emails, messages and data to the users using other devices. It also has an ability to send and receive emails to and from computers of any user types. We have also added a track wheel to scroll and click while using. Our aim is that cell phone users should not depend on traditional mobile phone devices for communication. Present BlackBerry model 950, uses Intel process 80386 and 16MB RAM in it. Technically BlackBerry offers multi task system that enables it to perform various functions as single function and doesn't compromise on speed and quality. One can send digitally secure messages by using BlackBerry too. Up to our enthusiastic plans and expectations, this device will be very popular in all mobile phone users and specifically among business users. For this purpose we intend to do a complete concept and product testing plan 2-0: Research objectives: Objective of research is as important as research itself is. Without a focused objective, no good findings can be expected from any type of research. Research objective is to have maximum feedback form selective and targeted customer groups so that enough information which may be needed for any modification would be available to us. Though product has gone through various in house and laboratory tests, but unless we have a solid view about consumers' perception about bb we cannot proceed further. This research enabled us to improve the product before its test marketing. 3-0: What Information is needed Our research includes following questions and we vigilantly tried to find out the answers of these questions by applying Primary Research and conducting Focus Group Discussions: Further points include collection of information about various issues: (1) Should we offer BlackBerry as such or some changes are required If no changes needed, which market is most likely the best appropriate market to target in the beginning Should we offer BlackBerry to all mobile users or only to the business users in the beginning What price should be charged for this high end innovation In which demographic markets we should focus in the beginning 3-1: Our Research
Tuesday, October 8, 2019
Compare and contrast paper on Natural Gas vs Propane Essay
Compare and contrast paper on Natural Gas vs Propane - Essay Example pectives, and thereby provide a solution for a replacement for the more polluting fossil fuels of coal and petroleum is found to continue to drive human activity, till such time technology makes renewable energy a feasible solution. Propane is a gas at normal temperature and pressure. The chemical formula of propane is C3H8. It has high energy content, which makes it suitable as a fuel. Propane along with ethane and butane are present in natural gas and oil, from which it is separated at the refineries from crude oil or natural gas. The amount of propane that can be extracted from natural gas and crude oil are approximately the same. (1). The physical properties of propane are a boiling point of -44 degrees F; specific gravity of propane gas 1.52; and specific gravity of liquid propane 0.51. Other physical properties of propane relevant to its use as a fuel include lower limit of flammability 2.15; upper limit of flammability 9.60; Flash Point -156 degrees F; ignition temperature in air; 920-1020 degrees F; maximum flame temperature 3595 degrees F; and an octane number above 100. One cubic foot of propane is estimated to give 2516 BTUs. (2). Natural gas as the name suggests is a gas at normal temperature and pressure, and is a gas at any temperature above 161 degrees F. It has no chemical formula as it is a mixture of gases consisting of methane, ethane, propane, butanes, pentanes, carbon dioxide, oxygen, nitrogen, hydrogen sulfide and rare gases. The proportion of these gases in natural gases varies, making it difficult to have a fixed physical characteristic for natural gas. However the primary constituent in natural gas is methane, up to ninety percent and so natural gas tends to have the properties of methane in being highly inflammable, burns easily and almost totally. Natural gas cooled to a temperature of -260 degrees F at atmospheric pressure become a liquid, which is called liquefied natural gas(LNG), In this form it occupies only about one 1/600th the
Sunday, October 6, 2019
Factors that organisation can utilise to help build brand equity Essay
Factors that organisation can utilise to help build brand equity - Essay Example The clients, through what they speak of the product, ultimately determine the brand equity of a commodity. In this case, the most promising products in meeting the needs of the clients have a strong value for their brand. Through the use of information available at the market and the clientsââ¬â¢ perception of the products capacity to meet the needs, an appropriate product is selected. This is greatly influenced by the beliefs and perception of the client towards a commodity in relation to the specific needs that need to be addressed. In the course of improving brand equity of a specific product or institution, the two main factors that are taken into account include brand knowledge and brand awareness. The product should be placed in the client mind to an extent that when s/he is confronted with a problem, the products appears to be the first choice among the products that could address the challenge. Understanding the rivals in a business Understanding the brand equity of compet itors is important in the making of brand equity; this is mainly because the organization will maximize on their weaknesses. Moreover, this will provide sufficient information in preparation of a brand that is unique from the existing ones and thus easily identifiable by the clients. This places the product as well the organization at a competitive edge in the market that is ever competitive, thus enjoying customer loyalty, increased sales and consequently growth. Approaches for ensuring brand equity There are various approaches to ensure brand equity in an organisation within the market in which its supplies products to its customers. Customer-based equity brand approach is one in which an organisations considers various factors to be implemented so as to come up with a brand that is strongly established in the market. Customer-based brand equity model ensures that an organisation can be able to attract its customers by clearly considering their choices as could be determined by th eir preferences. Kevin Keller developed the model and hence it also bears the name Kellerââ¬â¢s Brand Equity and it involves four steps of developing a stable and strong brand in the market. The first step of customer-based brand equity implies that a product needs to be logical, and should integrate different aspects of life as well as establishing itself in the market. This happens by creating customer awareness or salience, which aims at ensuring that a brand stands out, and customers recognise it. According to this step, an organisation, which is implementing a branding venture, should focus on being all-inclusive and focusing on its ability to its establishment in the market. This means that for a brand to thrive in a market, it will have to undergo the process of growth to establish itself in the business by involving as many people with their own differences. This means that an
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