Video Comments/ DQ/ Weekly Summary

Video Comments/ DQ/ Weekly Summary

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Video Comments/ DQ/ Weekly Summary

Video Comments

Brand strategy plays an important role in the success of an organization and its products in a given market. The video emphasizes on the need to ensure a high level of engagement between the customers and the brand. This is reliant on the establishment of appropriate position on part of the customers using relative actions that are based on consumer values and social attitude.

Discussion Questions

Classical, behavioral, systems, and contingency schools of thought are some of the main ideologies in management. Classical schools focus on management of workers and the organization in a holistic and effective manner (Trott, 2008). This includes management of resources such as innovation and creativity with an aim of meeting organizational goals and objectives. Behavioral schools are effective in understanding innovation processes among humans, and more so within the labor force of an entity. Systems school of thought provides for understanding an organization as a system whereas innovation and creativity are a subset of innovation (Trauffler & Tschirky, 2007).

Summary-Week 13

It is evident that patents or brands play an important role in the success of an entity in both local and international markets (Kotler, Pfoertsch, & Michi, 2006). It is evident from the case study, that the pharmaceutical entities maximize their profits solely on the strength of their products and patents. The patent system has seen these entities accrue super-normal profits at the expense of customers and patients in the developing world. Furthermore, the strength of a brand should resonate with the products sold under the identified brand name (Kapferer, 2008).

References

Kapferer, J.-N. (2008). The new strategic brand management: Creating and sustaining brand equity long term. London: Kogan Page.

Kotler, P., Pfoertsch, W., & Michi, I. (2006). B2B brand management. Berlin: Springer.

Trauffler, G., & Tschirky, H. (2007). Sustained innovation management: Assimilating radical and incremental innovation management. Basingstoke [England: Palgrave Macmillan in association with the European Institute for Technology and Innovation Management.

Trott, P. (2008). Innovation management and new product development. Harlow, England: Financial Times/Prentice Hall.