Brand features: A Look at Global Competitiveness


By

Rupesh Pithadia
MBA 2nd Semester
K.N.V. Institute of Business Management
Metoda, Rajkot-360 003
 


* Introduction: -

The most important assets of any business are intangible; its company name, brands, symbols, slogans, and their underlying associations, perceived quality, name awareness customer base, and propriety resources such as patents trademarks and channel relationships. Of there assets, managers either small or large consumer or industrial, service or product are focusing a brand consolidating activities for securing competitive advantage and delivering long-term performance.

Brand consolidation campaigns involve a creative execution over a period of time maintaining the consistency and relevance and contributing to proposition, personality presentation and protection of those names against, abase and piracy. This task becomes counterpoised among multinational corporation's exporters, importers and service companies especially when customer needs and desires have homogenized and globalize. Two features of the business land scope which makes brand consolidation unavoidable strategic challenges are explosion in marketing and advertising activity resulting in ballooning brand portfolios lacking a strategic rational and soaring brand value in marketing and advertising deals.

* Economics Of Brand Consolidation: -

Companies become involved in brand consolidation for a variety of reasons economies of scale accrue from increased production and deification of the development costs over large markets. Smaller markets will also have access to resulting efforts involving large budgets. It also gives substantial advantages is gaining brand awareness where the travel is extensive and media coverage overalls countries. It is particularly important in industrial products or consumer durables like cars or computer where there are customer risks that a product may be unreliable or be technologically surpassed by a competitor. Such image provider a country association for which the country association is part of the essence of the brand. A company not only grows by attracting new customers but also through planet inexpensive retention programs for old customers. Brand consolidation out restraint on the migration of exiting customers and attract new customers. An Ohio based research institute, battle has prepared a list of technology intensive product, which may change the habits attitudes, and life style of consumers during the next deeded. These Ares include product and service categories of pharmaceuticals, computers automobiles bio-medical tourism, textiles and health care. The diffusion of technology is several product categories calls for modified marketing mix, which can easily achieved through brand consolidation activities.

* Brand Consolidation Process For Successful Global Market Positining:

The risk and complexities inherent in brand consolidation occur due to volatile global environment and unprepared or ill-conceived consolidation process. Following below mentioned steps could minimize these risks:

(I) Developing a global information network: A global marketer must look at the word market place to identify global opportunities and perspectives building a global brand require segmenting consumer base a life styles, attitudes and performance rather than nationalities. The secondary information published by the industry provides the company with such useful information. Information regarding consumer preferences towards a brand in terms of color sires and models could be supplemented through market research.

(II) Analyzing and screen international buyers:

In global marketing situation, it is important to understand potential buyers and the process they use to select one product over another. The process commonly used to analyses the buyers involves five. Steps (i) identification of potential buyers (ii) estimate of total potential market size (iii) Identification of members of the buying group (iv) determination and weighing of selection criteria used and (v) identification and weighing of information sources. Having set a framework for understanding international buyers consumers, business and government are examined is terms of their needs ability to buy, buying motives and buying process.

(III) Deciding product category brand positioning:

* Minimum level of marketing spending channel costs product supply costs including R&D.

* Discrete customers segments, multiple channels, early differentiated value proposition low even volume. If this analyses suggest this brand consolidation can add value, the next task is to ascertain the complexity and risks involved, given the starting points of the brand whirlpool merger was one of a series of brand consolidation prompted by whirlpool's vision of a strong global brand in while goods.

(IV) Increasing Product brand interface:

Risk and uncertainty is brand consolidation can be minimized by adopted a product to cultural preferences performance standard and adjusting quality to global requirements. Phasing out a brand trends to work well when the company's alternative brand a large group of loyal consumers.

(V) Implementing and follow up of brand consolidation process:

The following strategy may be adopted:

* Streamline ranges and harmonies products. Their two moves are closely limited and must be balanced. Moving too fast to a streamlined product portfolio without consolidation, brand names can make the value proposition less distinctive

* Harmonies pack design and logotype. In this way consumers loyal to brands that are to be discontinued gradually learn to appreciate the visual language of the brand that is staying.

* A joint strategic brand position should be developed and advertising copy harmonized so as to achieve a gradual transition of the brand proposition in consumers mind.

* Distribution could provide the final synergistic touch to brands by integrating un-conventional retailing, branded channel, finance-based channel, and image-based retailers to changing environment.

* Enhancing the service element by establishing a specific organizational structure dealing with complaints and redressed procedure. This will create an enduring bond with the consumers, which could be a formidable competitive weapon.

* Revitalizing the brand by increasing usage by existing customers or finding a new product use, this can be feasibly stimulated by the brand, or funding a new markets or attacking neglected market.

* Conclusion:

In a growing numbers of contexts the brand name and what it means combine to become the pivotal sustainable competitive advantage that firms have five factors are most important to a brand during its conception and birth: functional performance, positioning, name price and distribution. All these have great weight, but the first functional performance has an influence and virtually all the other factors. Brand consolidation is the next step, which calls for a synergy between strategic marketing mi, and operational marketing planning at global level for securing profitable market positioning.

* References:

Aaker David A 1991 managing brand equity, New York

Kumar Ramesh. S 2002 Managing Indian brands marketing concepts and strategies Vikas publishing Pvt. Ltd. New Delhi

Economics times:  1998 economic of brand consolidation may 6 12
 


Rupesh Pithadia
MBA 2nd Semester
K.N.V. Institute of Business Management
Metoda, Rajkot-360 003
 

Source: E-mail March 20, 2008

 

       

 

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