You must create a document that will determine and quantify the tasks associate with the close-out of procurement contracts plan. Focus on contract close-out processes, such as termination of contractual relationships, settlement of seller claims, as well as the successful completion of a contract. For clarity categorize the differences in termination of contracts, settlement of claims, and the proper steps to close a successful contract.
You will need to provide within the document a diagram that that will recommend and summarize the plan for the proper close-out of contract given the categorized differences between, termination, settlement of claims and the proper steps to close-out a successful contract or procurement action. Keep in mind many contracts are closed out due to completion of the contract.

Length: 10-14 pages (app. 350 words per page) and includes diagrams and spreadsheet

Your paper should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to Northcentral University’s Academic Integrity Policy.

Brands these days adopt various strategies to validate and ensure their brand is doing well in market. In the video, Jez Framptom has discussed about Interbrand methodology for measuring brand value. He also described the main components of Interbrand’s methodology to assess the rank of the company relative to others in market. Three main components of Interbrand’s methodology as per Framptom include understanding from where a company earns revenue, proportion of the company’s revenue and measure of the loyalty. First component is where a company earns revenue refers to the places from where a company can get generate capital (Geofferey, 2014). Generally, a company earns revenue from various geographic regions, markets and product lines. Second component is the proportion of the company’s revenue. In other words, how important the product is for consumers is crucial. Third component is the loyalty of customer i.e. how likely the consumer will be coming back to the same company as purchaser. Hence these are crucial components of Interbrand methodology. The company must know where their brand stands and how popular their brand is in market.

Jez Frampton in his video made some points reflecting that there is a considerable difference between first-age and branding today. Earlier, companies use to put stamps on their products and work to ensure that these products are recognized in markets. Companies in earlier times also used logos for their brand recognition. Creating and managing a company’s identity was dependant mostly on its logo. On the other hand, Frampton describes that nowadays, companies use different practices for branding. Customers are smart and aware about different products in market. If companies won’t be able to deliver up to mark then they will be completely organized from a company. In today’s world, communication is a key factor used in branding. It is important for companies to communicate with their customers well so that companies can provide them with after-sales service as well. For example, Samsung is a suitable example of age of experience (Jia, 2001). The company has established user-friendly stores that echo the consumer to come and purchase the products.

In the video, Frampton has stressed on the idea that legacy brands are in for a rough ride in today’s marketing environments. One of the reasons stated for this is that legacy brands have to ensure that consumer gets up to date products. This can only help the companies to keep pace with fast moving world. Earlier, branding may be considered as only a marketing activity but with time, it has evolved as one of the crucial activities for companies. Marketing strategies built by companies give a special place to branding due to its importance in fast evolving world. Nowadays, consumers demand extra and high quality products i.e. value for money. Hence, a company which will have strong branding will be able to communicate with customers well. It will eventually help them understand their needs and deliver what consumers prefer (Interbrand, 2013). Hence, it is indeed correct to say that legacy brands are in for a rough ride in today’s marketing environments.

References

1. Geofferey, B. (2014). “Valuing Brands and Brand Equity: Methods and Processes.”, Journal of applied management and entrepreneurship
2. Jia, Z. (2001). “Brand Equity Valuation: an Optimized Interbrand Model which is Based on the Consumer Perspective.”, International Academic Workshop on Social Science , pp. 45-67
3. Interbrand, 2013. Equitor.com. Retrieved on 28 Nov, 2014.