Research Task 4

 L4 Creative Enterprise

Unit 1: The Creative Entrepreneur

Research Tasks

Task 4: The Brand

•What is a mission statement?

A mission statement is a short, simple yet straight to the point statement that clarifies the core beliefs and purposes of the business. A mission statement is typically 1-3 sentences long and should easily define the businesses qualities and characteristics. The purpose of a mission statement is to simply keep the business on the right tracks of their desired success, rather than drifting into new products and/or markets which may not match the core aim of the business. Some larger firms take great pride in their mission statement and plaster it all over their offices and even use it as part of their branding to consistently reflect the businesses values and objectives. Some famous examples include Microsoft’s “A computer on every desk and in every home” and Disney’s “To entertain, inform and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds and innovative technologies that make ours the world’s premier entertainment company”.

•What is brand positioning?

Brand positioning is all about how the brand is viewed within the mind of their target market group. successful brand positioning requires a matured and established business in order to take shape in a positive effect. This can be achieved by how the business describes their products and services, how they brand themselves in correlation to their target market and even advertising to clearly portrait their brand position. An example of achieving brand positioning would be Virgin across the board of wide services such as Virgin Atlantic, Money and Trains. Iconic entrepreneur Richard Branson put his Virgin brand on the map via extreme publicity stunts such as flying around the world in a hot air balloon, driving tanks through New York or even abseiling down hotel casino’s, Virgin positioned themselves as a whacky, adventurous yet incredibly appealing and exciting brand.

•What, in business, is meant by values and drivers?

The values and drivers can often personally relate to the entrepreneur’s core beliefs and inspirations and bring this to the market. Think of it personally, what are your values, what aspirations drive you have to work hard? In this sense, this is achieved corporately within a business. What drivers get the business out of bed in the morning, what is the sole purpose for achieving their targets. For example, an academy values the academic success of their students in the same way Marvel drives to inspire imaginations through their films. Despite all profits and global success, their core beliefs is what powers them through the market.

•How can an individual, business or organisation market themselves?

Once again, business terminology and theory such as marketing can be taken into a personal sense, and then incorporated into the firm. Everyone has their own intentions of marketing themselves in front of others, whether it’s wanting to come across bubbly, doing daring deeds to be gossiped about or simply as a lone underdog, this can all be related into a business. Apple market themselves as a highly professional and luxury product via their branding, product portfolio and marketing campaigns. Marketing a business can be achieved by heavy advertising, PR stunts and even sponsorship until they are a recognised, successful business.

•In business, what is a blueprint and how would this relate to customers and marketing?

COMPLETE