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Marketing Legislative Framework Assignment Help
In this Legislative Framework Assignment, we will study the factors that will play an important role in the marketing of any product in the local or international market. Branding is considered as the most important strategy used in marketing. The popularity of a product or service depends largely on its branding technique. Branding is not merely used for advertising purpose instead it has a major role in creating a competition between the various organizations. It is believed that branding is the first thing that comes to any get customers mind when he thinks of a product and hence it is essential that one gives importance to branding if he/she wants to establish his/her product globally (Hart and Murphy, 1998).
This study will help you to understand the various marketing techniques and marketing strategy that can be used to promote a newly developed product and the ways in which you can turn your product into a brand and make it prominent among the other competitors. This assessment will also highlight the numerous risk factors that can affect the performance of your newly established business and that can become a hindrance in the promotion of your product when you try to market it internationally along with the ways to overcome those risk factors.
Aim of Research: The aim of this research or study is to “evaluate and discuss the strategies used for branding a product”
Branding a Product: Before you start marketing a product, it is essential that you know what is branding? Branding is the way to create a unique name or unique image for a product that will eventually become the first factor to come in to your customers’ mind when he/she will think of your product. Branding is important if you really want to leave an impression in your client’s mind. It is an accepted factor that people prefer using branded products more than the ones that are available locally (Arthur, 1995). It is for this reason that a business man or woman should create a good branding for his/her product. Though the investment n his high but the output will be higher.
Key Elements of Branding a Product: There are several elements that one needs to take in to consideration before beginning the branding process. Let’s discuss those factors one by one below-
- Brand Logo: Big organizations invest hugely on logo making. While creating a logo it is important that you keep the logo as simple as possible and it will be preferred that the logo has your product’s name in it. The advantage of this is even if someone forgets your product name through he will be able to recall your product (Hart and Murphy, 1998). Most of us would wonder that why a logo is important and the answer to this question is a simple concept that your logo will be the only thing that will last in your clients mind forever.
- Brand Taglines: The taglines are the best approach to impart the message that the brand needs to pass on. For instance Ferrari utilized an extremely solid slogan as a part of the past saying that "We are the Competition". The slogan totally looked like and passed on the valiant nature of the brand and the conviction of the brand that it doesn't rival some other auto yet with itself to bring a superior item next time (Keller, 2013).
- Brand Merchandize and Stores: The physical stores and merchandize of the brand are as a rule made in a manner that it passes on and reinforce the picture of the brand (Arthur, 1995)
- Events: Most of the brands would take an interest in and support a great deal of occasions. The occasions that a brand takes an interest in are intelligent of the way of the brand. For instance Ferrari is related with the motorsports since quite a while and in light of the fact that it produces quality games autos, motorsports is an unmistakable impression of its image picture (Keller, 2013)
By analyzing other students marketing reports I could find some more marketing strategies in order promote a brand. In this assessment I shall be discussing about the features that matters while promoting a brand. Promoting a product is not an easy task. There could be several ups and downs while doing it. There is a possibility that you invest a lot in branding, logo printing, conducting events but still your products gets unnoticed by the audience. We can learn more about the risks factors in marketing a product in this assessment.
- Risks in Marketing: There are numerous factors that can be a hindrance in your way criteria. You should be careful in this case as violating any rules can put your business in to risk. This factor becomes more important when you try to export your products globally (Keller, 2013). The quality check in many countries are very strict and if they find that your product fails to meet their criteria then they can impose permanent ban on your products and also on your company thus it will be impossible for you to establish yourself in this market once again.
Another important risk is in gaining the return for the investments that you have done. It’s not necessary always that you get the same return back always that you have invested. Many a time your business can go in loss but you should be ready to face all the consequences and hence your planning should be accordingly (Manshani and Khare, 2015).
- Ways to Overcome the Risks: In order to avoid the risks that are likely to occur in marketing a product, one must understand that the market well in which he/she is investing. It is important that you are aware of the latest trends and most importantly the likes of youngsters, because phones are always a craze among the youngsters and the popularity of a particular product is mostly judged by them.
As mentioned above, marketing a product nationally or internationally is not an easy job and it requires a proper planning. There are some ways to reduce your expense by focusing on cheaper marketing techniques like SMM and SEO’s. Apart from concentrating on branding by creating logos, brochures and by conducting events for the promotion basis, we can make use of social media marketing (Jobber and Ellis-Chadwick, 2013). The below given aspects will help you to understand that how a social media marketing can prove to be an effective way of marketing through less investments.
- Social Media Marketing: It is proved that social media marketing is the best way to market any product in this era. People are addicted towards social media applications like Facebook, twitter, Watsapp and more. Most of the youngsters these days are engaged full time with such applications and hence if we need to market any product, taking the help of social media marketing will be a right choice (Homburg.et.al, 2013) This will help your product to reach the right targeted client.
- Promotion through Online Ads: Though there are several ways to market a product, online ad posting is considered as one of the most effective technique. Google paid ads is the best example for this. You can go for these paid ads which will display your product’s information in various websites. This will make your product noticeable to all over the world. Facebook also provides similar facility (Homburg.et.al, 2013). You can even go for paid Facebook ads. The advantage of this will be that ad will be available to millions of Facebook users from all over the world. This is best way to promote a product globally.
- Search Engine Optimization (SEO): Search Engine Optimization shortly known as SEO plays an important role in brand or product marketing. Through SEO ranking you can make your products to reach the right customer. For instance if a customer is looking for a product say a latest mobile phone available in the market then all that he will have to do is to search in the Google for latest phones and if you are doing SEO for your products then your product will be shown in the first page and we can say that it will be available in the first search and that will leave a good impression on the customers who are looking for a latest phone. This is the reason why most of the organizations run behind SEO to promote their products (Zilincan, 2015)
By making use of SEO and SMM, we can market our product with less expense. In this assessment we could see the risk factors involved in the marketing of a product globally and the ways in which we can reduce the expense in marketing by marketing a product with some less expensive techniques.
As per Homburg.et.al (2013), there can be various ways and procedures to make an effective brand. The organization needs to first comprehend what the brand brings to the table as an item to its clients. Furthermore the organization or the brand must know who the intended interest groups are and where the brand can discover this intended interest group so that a ton of assets are not squandered in finding the clients. According to Jobber and Ellis-Chadwick (2012), the brand likewise needs to make a reasonable message which is to be passed on to the client so that there is no extension for disarray and all the brand components ought to be predictable in their message movement and ought to adjust with each other. For instance we all know the product iPhone is more famous than its brand name APPLE. In order to make APPLE brand name popular again, it’s important that we start marketing in the name of APPLE rather than the individual products like iPad, mac and iPhones (Challagalla.et.al, 2014). Though we saw that logo creation is an important element but in our case APPLE logo is already popular. Another popular and most commonly used method is participating in any event with the brand name, so in case we use correct brand name while marketing in an event, people will become more familiar with it.
In order to carry out a survey to know the factors that led the iPhone to overpower its brand name ‘APPLE’, we need to impose interview method. The researcher will raise several queries related to the topic and the solutions obtained from them will be included in the research report.
To understand the concept better, we would be interviewing around 8-10 university students studying in the University of London over the telephone to know their review about the brand Apple and its product iPhone. The purpose of this is to understand what made iPhone more popular than its brand name and to retrieve some suggestions from them in order to make the brand name popular again. We have targeted on the university students because of the fact that the large number of iPhone users are mostly university students, so interviewing them will help us to attain a clear picture of the query raised. The most common questions that will be asked in survey are :
How long you have been using iPhone?
- What made iPhone so popular that it overpowered its brand name APPLE?
- What are the strategies that can be adopted to make APPLE dominant over iPhone?
- The conversation over the phone will be recorded for further research purpose and to retrieve the correct solutions for the query proposed.
1. Describe ways to protect your intellectual property
- There are 8 ways in which you can protect your IP
- Patent is the most effective
- Set aside a few minutes to get keen on protected innovation. Teach yourself and group on the nuts and bolts of trademarks, copyrights, licenses, and prized formulas (Cornish.et.al, 2013).
- Contributing a day or two at an opportune time will spare cerebral pains later.
- Decrease costs by doing your own IP seeks first. Begin with a Google patent hunt at google.com/licenses.
- Work with a lawyer who has some expertise in licensed innovation and request an altered rate to record.
- Licenses aren't your exclusive resource. Conduct a review to recognize all your enrolled and unregistered trademarks and copyrights.
- Put resources into elegantly composed non-exposure assertions (NDAs). Ensure your vocation understandings, licenses, deals contracts and innovation exchange assertions all secure your protected innovation as well, right from the get-go.
- Record as quick as possible. A patent application holds your place in line. You will have 12 months from that underlying accommodation to develop your recording. What's more, recall that, US licenses can take over five years to issue.
2. What are the acts of legislation that relate to intellectual property?
The enactment gives the authoritative premise to the patent, trade mark, design and breeder's rights frameworks of Australia. It incorporates procurements for: regulating the patent, exchange stamps, outlines and plant reproducer's rights workplaces, including the forces and elements of the Commissioner of Patents and Registrars of exchange checks, plans and plant raiser's rights building up and keeping up the licenses, exchange checks, outlines and plant assortments registers making and handling applications for conceding standard or development licenses, giving plant reproducer's rights and enlisting exchange stamps and outlines charging expenses distributed the Official Journals of Patents, of Trade Marks and of Designs and the Plant Varieties Journal endorsing the way to take encroachment procedures to ensure and implement rights in licenses, enlisted exchange marks, enrolled plant assortments and enrolled outlines (Cornish.et.al, 2013)
3. Give a brief description of what the following Acts cover:
- Copyright Act: Copyright Act is a right given by the law to makers of scholarly, emotional, musical and imaginative works and makers of cinematograph movies and sound recordings.
- Trade Marks Act: According to Section 2 of the Trade Marks Act, 1999, "exchange mark implies an imprint equipped for being spoken to graphically and which is fit for recognizing the products or administrations of one individual from those of others and may incorporate state of merchandise, their bundling and blend of hues." ( Chisholm and Nettheim, 2012)
- Patent Act: Patents Act are stock short titles used in Canada, India, Malaysia, New Zealand, the United Kingdom and the United States for legislation relating to patents.
- Designs Act: The Designs Act 2000 is a finished code in itself and security under it is absolutely statutory in nature. The Designs Act gives restraining infrastructure security in the strict feeling of the word as opposed to negligible insurance against duplicating ( Chisholm and Nettheim, 2012).
- State or territory Business Names Acts: The Business Names Registration Act 2011 outlines the circumstances under which a business name is available to an entity.
4. Underthelotteriesandgaminglegislationwhatarethemainrestrictionson competition?
The principle confinements on rivalry identify with:
- the assertion of lotteries as unlawful (unless exempted or approved);
- the necessities for licenses for approved lotteries and suppliers of moment lottery tickets;
- the preclusion of unlawful gaming and wagering; and
- The preclusion on bookmaking exercises.
5 Under which legislation must the following items be listed on a label?
- The product name; Copy rights and patent are the major legislations that have been used for defining and establishing the name of product as well as for labelling.
- name(s)of all active ingredients and their quantity; For quantity of products the Weights and Measure Act 1985 as well European Communities Act 1972 has been preferred ( Chisholm and Nettheim, 2012)
- In some cases, recipient information; Quality control and global standard for marking and Data protection Act for sharing and offering of information
- batch number; for that Regulation (EC) 596/2009 has been implemented for determining the batch numbers
- Expiry date; ISO standard have been used for determining the best utilization of products and services for human use.
- Relevant warning/advisory statements; According to Discloser Act the warning and advisory statement need to be published during the labelling of products and services.
- Storage conditions; The General provision for storage conditions for products and services have been proposed by the industry and government.
- Directions for use; According to Adequate Direction 21 CFR 801.5 organization has to provide the information about utilization and risk that involve in use of products ( Chisholm and Nettheim, 2012)
6 What is the name of the Act that protects Victorian consumers in dealing in goods?
Following are the major Acts that have been proposed by Australian government to protect Victorian consumers
- Competition and Consumer Act
- Fair trading law
- Pricing regulations
- Warranties and refund
- Display pricing
7 What is the name of the Act that ensures that trading is fair for your business and your customers in Victoria?
In order to ensure the fair trading practices, Australian government has proposed following Acts
- Fair contract: The contract between organizations must be clear and fair to balance the healthy relation with customers.
- Receipts and bills: For fair trading in business to protect the consumer rights, offering of bills and receipts for products and services is necessary.
- Competition Act: In order to protect the rights of consumers, follow up of competition Act 2010 is being proposed by business council of Aus.
8 what does trade measures legislation cover?
Trade measurement covers both business-to-business transactions and business-to-consumer transactions.
9.What is the main objective of Australian Association of National Advertisers Code of Ethics?
The Code of Ethics is the foundation of the AANA self-administrative framework and is supplemented by a Code of Advertising and Marketing to Children, Food and Beverages Code and Environmental Claims Code. The self-administrative framework is supported by a free, straightforward and hearty grievances taking care of framework regulated by the Advertising Standards Bureau ( Chisholm and Nettheim, 2012)
10. What is the objective of the Australian Direct Marketing Code of Practice?
The Australian Direct Marketing Association (ADMA) manages a 'Code of Practice' for direct showcasing which all ADMA individuals must maintain when leading direct promoting effort. Be that as it may, the participation of ADMA is intentional. All ADMA individuals:
- must give precise data with the goal that you know precisely what is being advertised
- might not make any false or misdirecting claims
- should not utilize invented or misdirecting supports by other individuals
- might not cite exploratory information unless the case can be demonstrated
- might give a full road address where they can be reached
- must give a seven-day chilling period for buys of products
- regard your security.
Arthur R.J., 1995. Branding: a trend for today and tomorrow. Journal of product & brand management, 4(4), pp.48-55.
Challagalla, G., Murtha, B.R. and Jaworski, B., 2014. Marketing doctrine: A principles-based approach to guiding marketing decision making in firms. Journal of Marketing, 78(4), pp.4-20.
Chisholm, R. and Nettheim, G., 2012. Understanding law: an introduction to Australia's legal system. LexisNexis Butterworths.
Cornish, W., Llewelyn, G.I.D. and Aplin, T., 2013. Intellectual property: patents, copyright, trade marks & allied rights.
Hart, S. and Murphy, J.M. eds., 1998. Brands: The new wealth creators. New York, NY: New York University Press.
Homburg, C., Kuester, S. and Krohmer, H., 2013. Marketing management: A contemporary perspective. McGraw-Hill Higher Education.
Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing (No. 7th). McGraw-Hill Higher Education.