IGCSE Enterprise: Specimen Questions with Answers 47 - 48 of 49

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Case Study -2

Pottery Barn & Sherwin-Williams

Co-Branding Campaign: Color Your Room

  • One of the biggest benefits of co-branding campaigns is the opportunity to expose your product or service to a brand-new audience. that՚s exactly what home furnishing store Pottery Barn and paint company Sherwin-Williams did when they partnered together back in 2013.
  • Together, the two brands created an exclusive product line of paints, and then added a new section of Pottery Barn՚s website that helped customers easily select paint colors to complement their furniture choices.
  • Customers could coordinate paint colors with picture-perfect Pottery Barn furniture for a mutually beneficial partnership – and style assistance for both brands customers to boot. “Paint Landing,” Pottery Barn՚s landing page for the partnership, contains helpful blog posts and how-to ideas for do-it-yourself painting and decorating.

Question 47 (10 of 12 Based on Passage)

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Short Answer▾

What do you mean by the term Marketing?

Explanation

Marketing means understanding and responding to customer needs. Marketing concept is a customer -oriented concept. What implies is that products/services are bought not merely because of their quality, packaging, or brand name, but because they satisfy a specific need of customer. It also implies that organizations must provide services to their customer and that too without any obligation. In other words, marketing means understanding and responding to customer needs, a perquisite for any organization՚s success. And this certainly cannot be ignored by any organization in today՚s competitive environment.

Any organization must be competition oriented too. Thus, the marketing concept involves:

  • Customer orientation
  • Competition orientation
  • Ability to respond to environmental changes before competition does.

Examples: Sony and Microsoft, who have consistently invested in futuristic technologies and products.

Question 48 (11 of 12 Based on Passage)

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Short Answer▾

One of the biggest benefits of co-branding campaigns is the opportunity to expose your product or service to a brand-new audience.

What is Co-branding?

Explanation

Co-branding is a form of managing customers contact to build brand image is co-branding. Today brands are coming together to create a powerful image in the customer՚s mind. Co-branding leads to logistical and financial benefits to partner organizations. But often the debate is whether co-branding leads to losing a brand՚s unique identity. To avoid this situation, it is important that brands coming together must have-

  • Shared vision and rules
  • Similar passion to serve customers
  • Similar approach to product and service quality.

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