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The New Principles of Management

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Andrzej Kozminski and Dariusz Jemielniak

The New Principles of Management is a textbook meant for European students of principles of management. Developed basing mainly on international cases as well as drawing from international examples of managerial practices, it attempts to address the needs of globalized companies better than other, typically US-centric textbooks. The New Principles of Management challenges many of the fossilized and outdated management notions and covers the topics most relevant for modern 21st century organizations, rather than their historic developments.

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CHAPTER TEN. BRAND, IMAGE, MARKETING

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CHAPTER TEN BRAND, IMAGE, MARKETING 244 Chapter Ten Key terms and definitions Theory Practical tips A selection of theories and beliefs Types of brands The Four P’s Market segment Marketing strategies Case Studies Marlboro Friday Camel “No Logo” Tough language British School The bitter taste of chocolate Brand, image, marketing: Crossword Supplementary reading Brand, Image, Marketing “A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.” Jeff Bezos Key terms and definitions Organizations compete for customers, investors or sponsors, public opinion, good employees, and government support. In order to be successful, organizations try to use branding to differentiate themselves. In this way they can attract more resources. A brand is much more than just a name; it is a message. One of the preeminent tasks of management is to ensure that this message is correctly formed and packaged. For example, Mercedes is associated with luxury cars, and Volkswagen with reliability. Cadbury is associated with delicious chocolate and Motel 6 with budget motels. The more explicit and universal the associations linked to a brand, the greater its recognition. The most valuable brand in the world is Coca Cola, which billions of people associate with a refreshing beverage that is tied to American life and American prosperity. This simple recipe had enjoyed incredibly high sales worldwide. Without this brand, the Coca Cola company would be worth only a fraction of its present value. When Ford took over Jaguar, the purchase...

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