Branding strategy - Essay Example

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This paper briefly analyses the brand strategies with respect to the given case study of Global Gadgets Imports . Some customers give more importance to the brand rather the product…
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Branding Strategy Branding Strategy Some s give more importance to the brand rather the product. Such s have immense confidence in the abilities of the bands they trusted and will purchase any product from such brands without a second thought. The success of a product depends on how well the brand is recognized in the market. Even good products from less reputed brands may fail in the market whereas even poor products from the reputed brands may excel in the market. In short, the importance of brand value in the marketing process cannot be neglected. This paper briefly analyses the brand strategies with respect to the given case study of Global Gadgets Imports (GGI). Apple is currently the most reputed and valued technological brand in the world according to Kim (2010). Moreover, in market capitalization, Apple has already surpassed even Microsoft and currently ranked second in the world just behind Exxon Mobile (Kim 2010). Apple products are selling rapidly all over the world because of the huge brand value of Apple Company. Brand images construct some symbols in the minds of the customers which help the product manufactures to market their product more efficiently. For example, iphone, the touch screen phone from Apple has revolutionized the mobile communication world. Consumers who purchased the iphone were immensely satisfied because of the quality of the product. The belief that Apple delivers more than what they promise was true in the case of iphone also. Branding should be unique and attractive in order to catch the attraction of the customers. Logos or trademarks are important in developing a brand. Logos must reflect the theme of the product we are going to develop. Apple’s logo given below is one best example for how well a company can develop their brand through logos. (The Evolution and History of the Apple Logo, 2009) The above logo is simple and it speaks for the Apple Company. It says nothing about Apple products; however it is helping the consumers to recognize the name of the company. Once the name of the company identified through the logo, customers will search more things about the company and their products. Low prices, superior quality, great advertising, stunning packaging etc are part of brand development in the consumer electronics industry. All these strategies may develop a psychological attraction among customers towards a particular brand and Apple succeeds in developing such big brand awareness among the consumers. Consumer electronics market is overcrowded with millions of products which made the customer’s task more difficult in selecting a suitable product. In such circumstances they will put their trust on brands rather than the products. Apple realized the above principle well and did everything possible to build their brand along with their products. Global Gadgets Imports (GGI) is currently on the verge of big expansion. Even though GGI started their operations on a small scale, now the company has ten additional stores in three state regions. The distribution channels of the company are growing and it is difficult for the company to sustain their growth if they fail to develop their brand. All the biggest companies in the world are still spending heavy amounts for brand building even though they are established in the market. Global Gadgets Imports (GGI) has no brand development strategies at present which should be corrected. GGI needs a well defined logo through which the company can communicate so many things to the customers. Moreover, the company should spend some amount for the advertising activities. Advertising through different channels like television, internet, print etc can help the company immensely in building their brand. Sales promotions, and sponsoring of sport events etc are some other major brand building strategies Global Gadgets Imports (GGI) can be tested. Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from your competitors'. Your brand is derived from who you are, who you want to be and who people perceive you to be (Williams, 2009) Currently, not much consumers are aware of the products and services offered by Global Gadgets Imports (GGI). Global Gadgets Imports can communicate with their customers only through their brand. Brand building strategies will increase the value of the GGI products and services. It helps the company to tell the consumers about the mission and vision of the company. Moreover the features and benefits of using GGI products and services can be conveyed to the consumers through brand building. References 1. Kim, R. (2010). Apple Passes Microsoft As Top Tech Company. Retrieved from 2. The Evolution and History of the Apple Logo (2009). Retrieved from 3. Williams, J. (2009). The Importance of Branding Retrieved from Read More
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