American Marketing Association defines Brand as "Name, term, symbol, sign, or design or a combination of them, intended to identify a seller or a group of sellers and to differentiate them from those of competitors". Thus a brand identifies the seller or maker.
A brand is a complex symbol that can convey up to six levels of meaning viz. Attributes, Benefits, Values, Culture, personality and User. Scott Davis suggests visualizing a Brand Pyramid in constructing the image of brand. At the low level are brand attributes, at the next level are the brand's benefits, and at the top are beliefs and values as shown below.
It is one of the most important activities to be performed for the lifecycle of any brand. Some of the various tools used by Nokia include:
Public relations and press releases
High value for money
It is the job of estimating the total financial value of the brand. The brand valuation is done on yearly basis for all ht global brands that have value greater than $ 1 billion.
Nokia is one of the top 10 brands in the world for past several years here is the brand value of Nokia in past 5 years:
Year Position Brand Value
In $ millions % change
w.r.t. previous year
2002 6 29,970 -14%
2003 6 29,440 -1.2%
2004 8 24,041 -2%
2005 6 26,452 10%
Good chunk of the brand value comes from the marketing budgets, and different business models require different marketing approaches. It is interesting to note that in the top valued brands 6 out of 10 are technology companies
A strong correlation exists between the brand value and the innovation factor, which means their innovative efforts were correctly communicated and, moreover, there is a strong consistency between what the company judge as operational efficiency and delivers as a consequence and what the market accordingly perceives.
It is interested to note that, Nokia... [continues]
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