Brand Management Assignment Example | Topics and Well Written Essays - 1500 words

Brand Management - Assignment Example Through, successfully implementation of this methodology, firms can win loyal customer at a reasonable rate. Brand management practice is applicable across various industries, because of its perceptive dimension (Lienert). However, the positive product or brand image could be built in a fraction of seconds, when salesperson highlights the importance and applicability of a certain product in customer’s life; but the hard part is to backup this perceived value with actual product performance. All of the major automobile companies are attempting to lower their operational costs, because of Japanese competition (Mannering and Winston). But, they are taking this challenge in a wrong direction, because Japanese are not just selling vehicles, they are giving away comfort, low maintenance and high quality. Thus, they are providing more real value to the customer that enables them to charge some extra cash. The competitors should concentrate on enhancing the value provided to the custo mer, in order to counteract Japanese competition. ... In this way, the company will be able to provide incentive to facilitate sales. Another unique aspect of brand endorsement is its center of attention, which is more abstractive in nature. It emphasizes on improving the quality of life of an individual through a product, thus brand management is all about increasing consumers’ comfort through adding new and meaningful products in their life. Brand managers believe that customers do not purchase clothes; they pay for good looks, which these clothes will provide them. The above mentioned argument fits well, within the industry of cars that this paper will analyze in the coming section. Such consumers are interested in fuel consumption, convenience and elegance, thus require a travelling solution not just a car. Fait, which possesses the managerial rights of Chrysler, is planning to lower their value chain costs through streamlining their dealership network, by combining small to medium size dealers with larger ones. This strategy will help them in lowering the number of dealers; therefore their transportation costs will drop significantly. The use of centralized dealers points towards the intention of top management on gaining a price advantage. In the history, Fait attempted to introduce its products as luxurious ones. But, this decision caused its offerings to compete in a different market, in which Honda and other similar companies had established brands. Therefore, Fait failed to make a name in this segment; mainly, because of its products’ low quality. The customers consider Chrystal’s products as economical and designed for middle class; due to this market perception best cost marketing strategy will be ideal for promoting these products.

Proposal for the analytical report Essay Example | Topics and Well Written Essays - 1000 words

Proposal for the analytical report - Essay Example The research intends to answer the question, ‘is there a significant relationship between internal control practices and reported accounting frauds in organizations?’ It proposes to test the null hypothesis that there is no significant difference between effectiveness of internal control mechanisms and incidence of accounting fraud in organizations. Introduction Fraud defines a criminal deception that targets a financial gain. While a final independent audit may identify accounting fraud for legal actions against suspected personnel, this avenue does not recover lost finances because criminal acts attracts no remedy to the victim. The best solution for safeguarding an organization’s finances is therefore through establishment of strong internal control avenues that can detect and prevent possible frauds. This research seeks to establish a basis ensuring implementation of most appropriate internal control measures. The problem Fraud is a major threat to the going c oncern of an organization, both small scale and large scale. This identifies fraud and internal control measures towards controlling fraud as essential elements to organizational management. A number of internal control measures exist for detecting and preventing fraud such as application of checks and balances on offices that deals in finance based issues like planning, authorizing, and accounting offices. Frequent reconciliation of accounts, restricting access to authorized personnel, strong policies and discouraging conspiracy are other identified control avenues (Hogan, 2011). Brainstorming to evaluate possible fraud or fraud indicators and monitoring compliance to codes of conducts as set by organizations also facilitates detection and prevention of fraud (Aicpa, 2005). Such measures are however hard to understand if fraud is deeply rooted in an organization, such as in circumstances where an organization’s management applies fraud in external ventures. This therefore id entifies far-reaching effects of fraud that extends to industry’s performance and consumers economic factors. Fraud is however both a criminal and immoral act that should not exist in professional practice. Effective measures are therefore necessary to ensure that possible threats of fraud are identified and eliminated. Findings from this research will be instrumental to professional personnel that is charged with the responsibility of safeguarding an organization’s finances. Such are accounts officers and the chief accounting officer, internal auditors, organizations’ managements and external auditors. The accounts officers will find the research results helpful in identifying potential threats to fraud for necessary actions such as reporting to senior management officers. The chief accounting officers is however a chief beneficiary of the research findings that will help in controlling the vice in his docket. The management whose role involves disciplining emp loyees and overly supervising an organizational activities and processes need to be informed about fraud control because they are the organization’s custodians to external stakeholders. Internal and external auditors will however find the results helpful in identifying inconsistencies in statements and in recommending appropriate measures