Brand Building Blocks

Catherine, W., Tat Pui, L. and Henrik, U. (2011) The Roles of Branding for a Brand Entering

There are many strategies that organizations can incorporate in today’s business environment. An organization can decide to take on a low-cost provider strategy, a focused low-cost strategy, broad differentiation strategy, focused differentiation strategy, and/or a best-cost provider strategy. While all of them have their own unique features and can offer a competitive advantage over its rivals, Competitive Shoes, Inc. decided to incorporate the best-cost strategy into its organization in order to compete against it rivals. By incorporating the best-cost strategy into its organization, Competitive Shoes Inc. felt that they could stay

Your Brand can either open doors for you filled with opportunities or closed doors for you leaving without opportunities.

Several key points are presented in the article for how companies can be successful. The first, is that companies must be innovative and be willing “to change their core products or business models” (Bertolini et al., 2015, p. 90) to keep up with the change in the marketplace. This may require that they rebrand their product, or change their business

A brand is an organisation, product or service which has created an emotional connection with their consumers in order for them to favour their brand over their competitors. It is incredibly important for brands to keep up their image and one little thing could change the global perception of a business. It takes a lot to maintain a brand image that has been built up over a long period of time and even more to regain it if that reputation is lost. Brands are created through various different aspects such as their visuals, tone of voice, advertising, actions and reputation. The combination of these will leave their consumers with long lasting emotions and perceptions of a particular brand and will effect whether they support a business or not and whether they would favour or avoid it. When a brand looses their image it can cost a lot of money and time to rebrand to prevent complete failure of the product or service.

Successful brands build successful products when the product is one that the consumer desires as opposed to needs. Companies selling these types of products must put additional effort into marketing activities like brand

First of all, a strong brand can be seen as the condition for organisations to expand products, offer more service, and introduce new products (Chernatony and McDonald, 2003). Secondly, a strong brand can lead to growth marketing communication effectiveness (Keller, 2009). ‘To build a strong brand, the right knowledge structures must exist in the minds of actual or prospective customers so that they respond positively to marketing activities and programs in these different ways.’(Keller, 2003, p. 140) Furthermore, Kay (2005) asserted that the strong brand can be seen as a resource of management, which make brand extension easier and useful to build distribution network. Companies are not treated by the intermediaries (Chernatony and McDonald, 2003). Moreover, companies are comparatively easier to change price if they have strong brands. As Henderson, et al (2003) said, a strong brand can allow for premium pricing even still remain loyalty customers, which help companies to survive in the intensive competitive market.

One of the biggest issues of marketing today, is developing a valuable brand. Once a company is recognized as a brand leader, the company is able to expand its product line. Some of the biggest industries names are Gatorade, Apple’s iPhone, Google, and even America’s favorite past time: baseball, is learning ways to attract ticket sales to the stadium. Companies spend millions of dollars trying to develop a product line. Brand recognition is the most important part that any company or product can accomplish.

When two companies are offering similar services or products at a similar cost, it is the strength of a company’s brand that causes a consumer choose one company over another. Many companies, especially smaller businesses with limited budgets, employ a ‘marketing-on-the-fly’ strategy that is short on consistency and tall on following trends. This approach can hurt much more than it helps over time. Inconsistent branding efforts can cause a consumer to mistrust your brand or to harbor confusion over the quality of products or services that are on offer.

Multi-brand strategy leads managers of each brand bound to operate efficiently as internal competition is high

This was a key finding from the survey. Obstacles and inhibitors to brand development were discussed in chapters one and two, and from the survey the factor which respondents felt had the biggest effect on brand development was finance. This theme is also referred to several times by R.M. in the interview data. The first reference to the time is with regards to the main reason why Tayto are restricted from growing their brand internationally and that is funds. R.M. states that Tayto would need to ‘buy back’ the license to operate the brand outside of Ireland and the reason they have not done is due to

One of the most significant barriers comprises the brand equityenjoyed by most established brands. The repute of the brand is extremely important to customers; luxury brands such as Jaguar, Mercedes-Benz, BMW and Audi have a long and magnificent history to boast about, and the companies work hard to preserve the association between them and other symbols of individuality and of top-notch quality and performance.

For brands to remain in today’s market place, they need to offer a more competitive added value in their products to cope with this shift of power from the brand to the consumer. (Toffler, 1980)

Well-managed brand shift demand in several ways: by commanding a higher price, generating more volume or some of both. Too high a price will dampen demand and reduce revenues, but the stronger a company’s

Branding: Porter (1979) suggests that brand recognition particularly in the beverages industry provides a barrier of entry to new firms. HP does not have a recognisable brand, thus, if a firm with a successful marketing campaign entered the industry, HP could lose market share very rapidly.