For this assignment, you will research and provide an analysis paper on any current brand management or branding topic that also relates to the entertainment industry. The primary objective of this requirement is to relate course concepts to real-world examples and to examine and provide your analysis and relevance to these branding concepts and theories in the entertainment business.
Find at least two articles from the popular press and online (AdWeek, AdAge, Brand Magazine, Wall Street Journal, Business Week, Fortune, Forbes, Economist - any publication after 2012) that addresses or relates to a concept or theory pertinent to this course. In the analysis, identify the concept or theory in the article and describe how it is used in this particular case. The paper will be graded on content, research, analysis (how and why the article illustrates the concept) and on form (structure, spelling, grammar).
Write a 2-3 page written APA paper and include a cover page, in-text citations and a references page using APA format.
After the globalisation brand has become almost as important as the products or services. This has happened due to the increased competition in the global market. Brand management is the process of managing the brand and the companies take great care in this as this is their medium of connecting with the customers by creating an image of the organization. In this paper brand management will be discussed with respect to the entertainment industry.
Brand can be described as a name, logo, mark, sentence, word or a combination of these things which is used by the companies to separate their products from the products of other companies. Brand management can defined as the process of analysing and planning on how a brand can be perceived by the market and customers. The target of brand management is to build a strong relationship with customers by making the brand distinct among the competitors.
BRAND MANAGEMENT THEORIES
There are numerous brand management theories. In this paper the theories will be related with practical examples from the market practices to make the more relevant (Selnes, 2013). A few brand management theories are- the theory of brand loyalty, theory of value based brand management, the branding theory etc.
EXAMPLES FROM THE ENTERTAINMENT INDUSTRY
1. Perhaps the biggest show on the television now is Game of Thrones. It has a very large fan base and the viewership of this TV series is actually increasing over the years. It even has an unprecedented global popularity which is unmatched by other TV shows. This show is created by the HBO network and it has done a remarkable job in brand management to make it this popular (Chan-Olmsted & Shay, 2015).
HBO follows an appointment model for this show which means that the episodes are released once a week and there are only 10 episodes each year. On the other hand, HBO’s rival Netflix makes a season available to the customers. So, it is very important for HBO to engage with the customers to maintain the popularity and interest. Before the release of the very first episode, HBO made the catch phrase “winter is coming” popular on social media to generate interest. HBO follows a multiple channel engagement with its customers through- social media channels like Facebook, Twitter and Instagram. The other platforms used by them are- blogs, news, forums etc. They even did offline marketing by publishing fictional news on the New York Times. Many merchandise companies sell Game of Thrones t-shirts, mugs etc.
In these above mentioned methods HBO has managed to build the brand loyalty of Game of thrones.
2. Another recent case of successful brand management can be seen in the case of Marvel Entertainment. Marvel comics have been very popular for comics’ lovers for more than half a century. Now, they have managed to take the entertainment industry by storm by producing movies based on the comics. Their box office collection is more than $10 billion. They have used viral marketing technique to get high popularity with in a relatively short span of time. They have also sold merchandises and their popularity and fan base is increasing along with the increasing number of movie projects (Melewar & Nguyen, 2014).
Their success can be related to the theory of customer value-based theory. They have managed to build long-term customer value. They are selling the some products by making the product more marketable. They have been successful in creating unique experience for the customers and for this reason customers have become more interested in their products. They have also linked the movies in such a way that customers feel like they need to watch all the movies of franchise. This has also led to more revenues for the company
In conclusion it can be said that in today’s world brand management has become an essential part of any business. Customers are becoming more engaged with the companies and the companies are using the brand to make it-self more marketable. It can be said that if a company manages to build its brand and maintain it then it will continue to enjoy success and vice versa. The brand management theories are relevant even though the brands are evolving in a very fast pace. They manage to provide a framework or base for brand management activities.
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1. Chan-Olmsted, S., & Shay, R. (2015). Media branding 3.0: From Media brands to branded entertainment and information. Handbook of Media Branding, 33-36.
2. Melewar, T., & Nguyen, B. (2014). Five areas to advance branding theory and practice. Journal of Brand Management, 112-115.
3. Selnes, F. (2013). An examination of the effect of product performance on brand reputation, satisfaction and loyalty. Journal of Product & Brand Management, 78-83.