Advertising psychology Essay Example | Topics and Well Written Essays - 2250 words

Advertising psychology - Essay Example In fact, medium through which ideas are expressed is not relevant, what matters is the nature of messages communicated to customers by these companies. Self-determination of this company is manifested through their effort and culture expressed in each of their offices. This company altered its brand from Wieden & Kennedy, Inc in May 2003, which was established during its founding in 1982, in Portland, Oregon (Businessweek, 2013, 1). Nevertheless, this agency has managed to offer their marketing services through offices located in countries such as Netherlands, Britain, America, Japan, China, Brazil and India. This agency has been managed by different managing directors since its founding; for instance, Luhr was one of the managing directors who headed this agency since in 1992 after working for a period of six years and later he became a partner (Businessweek, 2013, 1). On the other hand, Wieden+Kennedy has been involved in promotions of big companies such as Nike.Therefore, this pap er analyses â€Å"Jordan BE Lifestyle Campaign† in order to discuss the topic of advertising psychology. Jordan BE Lifestyle Campaign was aimed at creating a genuine reason for Jordan Lifestyle Apparel Collection, whereby it is focused on establishing a contemporary and culturally relevant gyrate on the legacy and life of Michael Jordan (Effie Awards, 2007, 2).... yle attire category; in fact, this campaign focuses on generation of additional media impression and talk value among the principal consumers in the fashion industry (Effie Awards, 2007, 2). The campaign was also focused on generating thirty percent sale of Jordan Brand Collection attire through a credible establishment of a brand as lifestyle alternatives for customers. 2. Psychological Theory Various distinctive theories of advertising have been discerned by numerous scholars since 1900s (Loken, 2006, 454). In fact, researchers had a conviction that understanding of psychological theories in marketing would derive a significant way of conducting a systematic analysis of trade instead of relying on chances or instinct. Especially, in the America, advertising has become a serious industry; for instance, in 2007, there was one hundred and forty nine billion spent on advertisements by different companies (Effie Awards, 2007, 1). Nevertheless, study in the field of advertising theories commenced in 1903, whereby a research was conducted in psychological laboratory of Northwestern University (Loken, 2006, 460). Nevertheless, some of psychological approaches that could be applied in advertising are indentified and they have increasingly developed significantly (Lau-Gesk, 2003, 301). Therefore, this section will seek to analyze some of the psychological theories applied in â€Å"Jordan BE Lifestyle Campaign† by Wieden+Kennedy, Inc. In fact, these theories are focused on applying elements such as strategic communication and psychological alternation in potential of various customers (Cox & Cox, 2001, 103). 3. Cognitive psychology theories Cognitive psychology theories applicable to this advertisement focused on the form of self-referencing that could be utilized by the

BUSINESS STRATEGY Assignment Example | Topics and Well Written Essays - 3000 words

BUSINESS STRATEGY - Assignment Example Introduction In a general sense, business strategy is regarded as the selection of effective and valuable business ideas, which aids in meeting organisational objectives. Formulation of business strategy is typically considered to be an imperative task for every organisation, whether small or large. It begins with the formulation of innovative business ideas by the concerned persons of various organisations. The responsibility of these concerned people does not end with the formulation of the ideas, but also they need to find out the best ways to implement those ideas and also have a frequent look whether those ideas are working well or not. All these significant aspects have been viewed to provide active support to the business managers of an organisation in making effective decisions towards the accomplishment of organisational targets (Kourdi, 2010). This assignment will analyze two of the decisive models that include ‘Porter’s Five Forces Model’ and ‘Por ter’s Diamond Model’ as a new way of understanding competitive advantage. In this regard, Porter’s Diamond Model is used as the most appropriate basis of measuring the competitiveness at the company level and thus, it is also considered as the model which provides the learning of competitive advantage in accordance with different opinions. ... Both of these models that proposed by Michael Porter are considered to be the effective tools for determining the position of the companies in the international competitive business markets (Porter, 1990). Hence, in this assignment, the study of various elements along with the principles of these models will be carried along with their practical implications within business and economic context. In the last section of the assignment, contemporary examples will be analysed wherein the aforesaid models help to analyse along with understand the relevant business and economic context. 2. Principle and Structural Elements of the Porter’s Model 2.1. Porter’s Five Forces Model 2.1.1. Structural Elements Porter’s Five Forces Model is a strategic insight, which avoids keeping the company’s competitive edge at risk and also ensuring the attainment of greater profit margin on a long term basis. The profit margin of the companies depends on a number of factors that ca n also be regarded as the structural elements of the aforesaid model. These elements have been mentioned below. Threat of New Entrants: It is the prime responsibility of the companies to prevent its competitors from entering into the business markets where they operates. This particular structural element depends on numerous factors such as market size, raw materials, cost of entry and also the cultural barriers (Lima, 2006). Competitive Rivalry: The competition between the companies determines the demand for the market. It is the analysis that performs by the companies to identify their competitors and determining their strengths along with weaknesses (Lima, 2006). Bargaining Power of Buyers: This structural element helps to control the profitability in the market. The companies must be conscious in