Brand Creation in Creating Competitive Advantages - Research Proposal Example

Does Brand Creation help businesses in creating competitive advantages? Index Page 0 Working 2 2.0 Background Information 2 3.0Brand Creation 3 4.0 Aims and Objectives 4 4.1 Aims 4 4.2 Objectives 4 5.0 Literature Review 5 6.0 Research Methodology 5 7.0 Works Cited 8 9.0 Time Schedules 9 1. Working Title This paper makes an analysis of the concept of brand creation in businesses in the process of creating competitive advantages and market position, while achieving their goals and objectives in marketing. 2. Background Information Businesses are made with an aim of achieving their set goals and objectives. This is often achieved by developing and using effective strategies that enable it achieve this objective. Branding is one of those ways that a business uses in the process of creating and marketing its products to clients in the market. The modern market place is very dynamic, having factors that are quite different compared to those that happened before. Branding is one of those practices that enable businesses to attract and retain customers, who always make comparisons between brands to arrive at the best one that effectively meets their goals and objectives. Having a good business brand is essential in differentiating the goods and services produced by a business to those produced by other businesses1. Additionally, successful business brands and the branding process is essential towards driving customer loyalty. It is important for businesses to understand that the branding process is not meant for multinationals along; instead, it has to be made by all businesses that designs and produces goods and services for people. Brands, as used in business activities can be described from two important approaches, first, a brand can be looked at as a special mark, symbol or image the distinguishes businesses and products of one company to another2. Secondly, branding can be looked at in terms of the thoughts and perspectives that people often have on the business and the products it offers. The process of building successful brands plays an important role in the customers’ decision-making process over products and services they want to buy. In most cases, customers will often go for popular business brands; they often tend to think that these brands have been made under the highest standards. This paper examines the process of creating effective business brands as well as how they help to improve business functions. 3. Brand creation Brand strategy in business functioning refers to the systematic plan that defines the vision of the business and articulates how the business carries its functions in achieves set goals and objectives3. The strategy illustrates how the business creates its demand and attractiveness for clients that have to make a choice among many products being offered by other business rivals in the environment. It is important to understand that in the process of creating a brand for a business, there is no template or blue print that is used, businesses have to be creative in the way they arrive at their brands, depending on the kinds of goods and services they offer in the market. The brand strategy made by a business depends on the kind of industry in which it exists. However, the brand being created has to be in line with the specific variables in the businesses so that it can effectively represent the strategic vision and mission of the business, as well as its attitudes and culture. 4. Aims and objectives 4.1 Aim To examine the effectiveness of brand strategy in the process of achieving excellence and market competitiveness, thus enabling the company to create a significant and sustainable market share. 4.2 Objectives To investigate the contemporary issues affecting the branding process in the businesses marketing activities. To identify the strategies that can be used in the process of creating successful business brands To investigate some of the challenges that businesses face in the process of creating successful business brands and branding process 5. Literature Review Many small businesses often ignore the branding process, preferring to engage in the process when their businesses begin to pick and deliver returns. Other business owners associate the process with meeting an expensive designer to make a logo for the business4. This is a wrong concept of looking at the branding process, because branding is the driving force behind the success of businesses whether they are small or big. In fact, branding is the tool that small businesses are expected to use in the process of creating their competitive advantages. Businesses are expected to know that branding has to take place in the business irrespective of its stage of growth. The fact that the market place does not have a blueprint for the branding process means that businesses have a responsibility of engaging in the process according to the type of products and service they produce and the factors affecting their business in their respective industries. Creating a logo is the simplest forms of branding; every operating business can manage to create a logo that communicates its value and the standards it stands for5. It outlines the colours that the business is known for in its brand, as well as other important features. A simple logo does not have to be complicated or made by an expensive designer, the most important thing is that it needs to have the ability to communicate the importance values of the business6. Businesses owners do not have to ignore the branding process just because they cannot to pay expensive designer to create their logos; instead, they should actively strive at making considerable efforts7. Successful business branding in a business can be achieved when the business becomes popular in the market among its target audience. Successful business brands need to be effectively identified by its potential customers, existing clients, competitors and the other stakeholders in the business. It communicates the values and other important aspects that the business stands for when these people see the business logos and company symbols. 6. Research Methodology In creating successful brands, businesses are supposed to ensure that the make proper research on the ways of creating and managing their brands. Much of the information about business branding can be found in some of the journals created about some of the largest and most successful companies. The business can get this information from online sources and company websites, most of which outlines the strategies that these companies have used in the process of creating their competitive advantage and success. Secondary research methods are very success in this research because they are many compared to resource persons in primary research. Besides using secondary research methods, business owners can use resource persons, also known as consultants in the process of understanding and creating their brands. One of the advantages with using resource persons is that most of them have an effective understanding of the business environment8. Consultants are important when it comes to advising the business on how it can create competitive strategies. It is impossible for businesses to seek information from their business rivals, who always want to preserve their trading secrets in order to create effective competitive strategies. In this case, the business has to devise various ways in which it can create its business brands. Market research is a strategy used by most business in the process of understanding markets and the strategies to penetrate and achieve success. Therefore, businesses need to invest heavily in this process in order to understand the market and develop strategies, which are not just effective in the branding process, but also in the general management and achievement of its competitive edge. Bibliography Clifton, R. Brands and Branding. Profile: London. 2003. Coomber, S. Branding. Capstone Pub: Oxford, U.K. 2002. Hammond, J. Branding Your Business Promote Your Business, Attract Customers, Build Your Brand through the Power of Emotion. Rev. ed. Kogan Page: London. 2011. Lamons, B. The Case for B2B Branding: Pulling Away from the Business to Business Pack. Thomson/South-Western, Mason, Ohio. 2005. MacInnis, D. J. Handbook of Brand Relationships. M.E. Sharpe: Armonk, N.Y. 2009. Miletsky, J & Genevieve S. Perspectives on Branding. Course Learning, Boston, Mass. 2009. Rth, A. Brand Hijack: Marketing without Marketing. Portfolio: New York. 2005. Wiegandt, P. Value Creation of Firm-Established Brand Communities. Gabler Verlag / GWV Fachverlage GmbH, Wiesbaden: Wiesbaden 2009. Time schedules TASK RESOURCES & ISSUES COMPLETION DATE Refine objectives and write final methodology. October 30th Literature review Internet, E-resources, Library November 20th Secondary research Look for journals, text books, press releases etc. November 30th Draft questionnaires and surveys Look at previous literature in this area, text book, E-resources December 15thth Trial pilot survey and questionnaire Make ten copies to give out in order to analyse questions for mistakes, lack of understanding etc 21st December Set up interview with a PGCE for middle of January Arrange who to talk to and when 28th December Give out questionnaires and surveys E-mail to relevant audience. Give out on street. 2nd January Carry out focus groups Arrange meetings with PGCE’s and customers of particular supermarkets and schools. 15th January Have face to face interview 16th January Collect all data from research together and analyse. Secondary and primary research 7th February Conclude research Both secondary and primary 1st March Evaluate study and make recommendations. All research found 1st April Read More