Current Issues in Marketing and Brand Management

Question: Discuss about theCurrent Issues in Marketing and Brand Management. Answer: Introduction The purpose of this study is to evaluate the various issues which are prevailing in the marketing and brand management. The one such issue which will be addressed is the rise of digital marketing which has various negative implications also which can be identified in the marketing and brand management. Another focus area is the effective strategic and brand management for the increased brand awareness and sustainability of the organization. There has been provided critical analysis of two articles based on the digital marketing and strategic brand management respectively. The study concluded with the discussion over the issues which act as the barricades in the successful development of a marketing plan. Critical Analysis of Article 1 Article: Integrated Digital Marketing: The Key to Understanding Your Customer By: Raghunandan H and Parimal Nagtode In the present scenario the organizations are vastly exercising the use of digital media in the marketing and brand management. This article focuses on the use of digital media mainly in the healthcare organizations. There are various issues which are associated with the use of fragmented digital marketing such as it emphasis over an isolated approach instead of utilizing an integrated approach. There are other issues also such as there are no robust regulations and compliances which can guide the ethical execution of the digital marketing, inappropriate process harmonization, failure in delivering the relevant and customized information regarding the products and services, issues on ethical grounds such as cultural implications and social impacts. There are several issues in the incorporation of digital marketing which impacts the brand management also as it is unable to understand the needs of the customers effectively. There are various positive impacts also which are associated w ith the use of digital marketing such as rapid transformation of information, effective advertising and promotion, global reach etc. With a combination of both positive and negative implications the use digital media is rapidly rising in the marketing sector (Raghunandan, and Nagtode, 2014). Critical Analysis of Article 2 Article: Recent Trend of Strategic Brand Management in Global Prospective By: Gauhar Fatma, Ela Kumari and Rashid Farooqi This article is based on the various recent developments and inclinations which have taken place in the strategic brand management if seen from the international perspective e. there are various issues which are arising with time such as extreme competition in the market, increased globalization which is somehow killing the domestic markets and changing needs, requirements and preferences of the customers which are very much required to met for sustaining in the market. All these issues give rise to incorporate a significant change in the strategic management of the companies. The article focuses over the importance of brand in the effective implementation of the strategies within the organization. The customers are now facilitated with the name and recognition of the brand in the market therefore it is very much important for the organization to have appropriate strategies for making the brand robust and identified. There are also numerous benefits which are associated with the succ essful strategic brand management such as it helps in developing the brand equity, strengthens the brand association, improves the quality of the brand and also enhances the brand awareness. Therefore it is essential to have a better understanding of the strategies implemented for improving the brand recognition. The author suggested that the companies must plan a strong brand portfolio so that in the process of brand management there can be efficient decision-making as this help in developing an integrated approach to inform the customers regarding all the products and services of the organization and thus enhancing the brand recognition. The article concludes that to successfully sustain for a longer time frame and to have higher returns there is a need to have a successful brand as it is considered as an asset which is lasting, renewable and valuable (Fatma, Kumari and Farooqi, 2014). Current Issues in Developing a Marketing Plan There are various issues associated with the development of a marketing plan which are required to be identified and eliminate while developing a successful marketing plan such as issues related to brand identity, for any new company it is very difficult to determine a brand identity and for the older organization the maintenance of the brand consistency is an issue (Kotler, et al., 2015). Another issue which arises is target marketing which is in context in selecting the appropriate market for the marketing of products; any inappropriate selection can fail the entire plan and results into losses. There are also other issues such as the prices, revenue goals, marketing mix etc. thus there is a need that these issues must be recognized and eradicate before the execution of the marketing g plan (Thimothy, 2015). References Fatma, G., Kumari, E. and Farooqi, R., 2014. Recent Trend of Strategic Brand Management in Global Prospective. International Journal of Emerging Research in Management Technology. 3(7). Pp.134-137. Accsesed on: 11th October, 2016. Accessed from: https://www.ermt.net/docs/papers/Volume_3/7_July2014/V3N7-206.pdf Kotler, P., Burton, S., Deans, K., Brown, L. and Armstrong, G., 2015.Marketing. Pearson Higher Education AU. Raghunandan, H. and Nagtode, P, 2014. Integrated Digital Marketing: The Key To Understanding Your Customer, White Paper. Pp.14. Accsesed on: 11th October, 2016. Accessed from: https://www.tcs.com/SiteCollectionDocuments/White%20Papers/Integrated-Digital-Marketing-Understanding-Customer.pdf Thimothy, S., 2015. The challenges associated with developing marketing plans. Accsesed on: 11th October, 2016. Accessed from: https://www.oneims.net/the-challenges-associated-with-developing-marketing-plans/