Designing Brand Identity - Report Example

Brand Management Introduction Branding is a vital element in a business organization. It is through branding that companies achieve commitment and retain their customers. For this reason, companies ensure proper brand management to achieve their strategic goals. Brand management involves designing and maintaining a brand. Branding helps a company to achieve and maintain a competitive advantage over other companies offering similar products. A good brand helps a company in generating profit and revenue. The main aim of branding is to convince a customer to buy a certain product. It aims at persuading people to purchase a product. A brand can only be successful if the brand management is proficient. Brand Management is a marketing device that companies can rely on in increasing their sales. It involves identifying the intended market for the brand. It also involves managing both the intangible and tangible attributes of a product (Holt, 2013). Tangible characteristics include packaging, price and the product. Intangible characteristics include the relationship between a brand and the customers. Importance of Brands Brands play an important role in companies seeking profitability by promoting and ensuring recognition. Customers will often buy from the companies they are well acquainted with as far as their products are concerned. A brand that is consistent and can be easily recognized helps customers to feel at ease purchasing the service or product. Brands are also important because they help in retaining customers. Brands create loyalists who identify with the brand (Kumar, 2009). A customer or buyer who is loyal to a brand will always choose the service or product and ignore other products or services in the market. The primary objective of contemporary organizations is to achieve a competitive advantage and go global. Brands, thus, are important because they help companies to achieve a competitive edge over others. Modern markets are characterized by cutthroat competition caused by duplication of businesses. This implies that a company may face competition from other companies offering substitute products in the same market. A company that intends to compete on a global scale should aim at improving their brand (Wheeler, 2012). This will help the company in competing with other companies. A good brand will ensure that the company outshines others. Recommendations are vital in markets featuring complexities and dynamisms. Brands, therefore, help to generate widespread recommendations from satisfied customers. This in turn attracts more customers to the company. Customers will often tell their friends, relatives and acquaintances about a certain brand they love. A strong band, thus, helps in attracting more customers to it (Clifton, 2010). Brands are important because they emotionally connect a company to its customers. Customers will often tend to feel good after they purchase a brand. Brands help to maintain a company’s focus across time and place. Most companies have a vision and mission which guides them. A good brand ensures that the company is focused on its vision and mission. It assists a company in implementing its strategies and marketing itself in the market. A good brand speaks volumes about an organization or company (Glynn, 2009). It gives value to a business. This makes them valuable to marketers globally. A good brand is important to a business or company because it helps in increasing profits which help in sustaining a company. Customers who are loyal to a brand will often buy the product despite changes in price (Aaker, 2012). A good brand helps a company in making future plans. It also helps a company in its future sustainability. Brands play different roles to both individual and business customers. They create an emotional link between an individual customer and the company. An individual customer will, for example, identify with a certain brand (Heckler, 2008). They will buy it and recommend it to other people. Brands provide business customers with quality products and services. Business customers are usually more interested in purchasing products or services that meet their needs. A good brand will, thus, play a crucial role in meeting their business needs. Huawei Company Huawei is a global company that deals with telecommunication and networking equipment. The company is situated in China and was founded by Zhengfei in 1987. The company deals with phones and other communication devices. Huawei Company produces and vends different kinds of communication electronic devices (Hitt, 2012). The company shipped more than 29 million mobile phones in 2010 to different markets such as America, Europe and Japan. Huawei Ascend G7 is one of their latest products. It is a smart-phone with quality features. The phone was introduced into the market on October 2014. It has a 4G network and weighs 165 grams. It has an internal memory of 16 GB and its ram is 2 GB. The phone has an android operating system and appears in two main colors, black and white. The company operates on a global scale. This means that it is sells its products globally in many different countries (Franzen, 2008). It main target markets are Africa, China, Japan, the United States and Europe. The company has targeted these markets due to the high demand for high-tech mobile phones. There is an increase in demand for products with quality features that provide quality services. The phone for example, boosts of high speed internet. It is, thus, ideal for the four markets. Africa is an emerging market and an ideal market for the phone. Huawei Company is well established in Africa since it has partnered with African companies. Japan is a country marked by innovations over the years. There is, thus, a high demand for modern high-tech phones in the country. It is, thus, easy to market the phone in that country. Europe provides a dynamic and competitive market (Clifton, 2010). It is one of the largest and competitive markets. The European market is important to Huawei Company owing to its presence in different countries where it has sponsored football clubs. The American market is also diverse and competitive. It boosts of mobile phone giants such as Apple and Samsung. Huawei’s phone is ideal for this company owing to its affordable price and quality features. The American market is also home to many technology companies. This means that there is a high demand for modern devices with high-tech qualities. This makes it an ideal target market for the phone. China is the most populated country in the world. It has the largest business market owing to its large population. It is also home to Huawei Company. Huawei Ascend G7 is ideal for the Chinese market since it will receive a large audience (Larcon, 2014). The fact that Huawei is situated in China means that it has a large base of customers loyal to it. The phone’s main target audience is the young generation. The four target markets have an ideal target audience. Young people love modern devices with high-tech features that meet their needs. The young generation loves the internet and the phone provides a fourth generation network which is fast and reliable (Larcon, 2014). It also targets middle aged people who are privy to technological innovations. The phone has modern features which are appealing. It is also fast and simple to use. It will, thus, appeal to such a target audience. The phone meets all the technological needs that young people and middle aged people need. Brand Image The image of a brand refers to how customers view a certain brand. It is developed through advertising using a regular and reliable theme. Brand image is authenticated though a customer’s experience. It conveys an emotional or expressive value (Kumar, 2009). A brand image is a subjective mental picture of a brand shared by a group of consumers. A brand creates a positive image to consumers and customers who are loyal. They suggest or provide the best choice for customers. Huawei Company has built its brand image using logos and slogans. Its main slogan is “make it possible.” The slogan is appealing to consumers as it gives them hope that Huawei mobile phone devices will meet their needs and “make it possible”. This slogan, which is part of the brand image, helps in convincing consumers that Huawei’s mobile phone devices offer quality services. This creates a subjective mental picture of the brand (Aaker, 2012). Huawei Ascend G7 will be able to sell in the market due to the positive image created by Huawei. Brand Essence Brand essence is used to speak about a brand and helps in differentiating it from other brands. Brand essence captures the experience of a brand and the aspects of a business organization (Wheeler, 2012). Brand essence is usually clear and short. Huawei’s brand essence comes from its marketing slogan “make it possible”. The phrase speaks volumes about the company. It translates to the capabilities of the company in meeting the needs of consumers. Huawei Company is the third largest mobile phone making company after Samsung and Apple. The new phone has the latest specifications and features. The brand essence, thus, sums the phone’s abilities and features which make it possible for customers. Huawei Company has adopted a number of strategies aimed at promoting their brand or products. One of the branding strategies is sponsorship. The company has sponsored several football companies in Europe in a bid to market their brand in Europe (Larcon, 2014). Football is one of the most popular sporting activities in Europe. Sponsoring such teams is one way of advertising their product. It is also a means of gaining a competitive edge over its competitors. Huawei Ascend G7 will gain sales due to this marketing strategy. Supporters of football clubs sponsored by the company may opt to buy the phone as a way of associating with a company that has assisted their football company. Pricing is also a branding strategy that the company uses to promote its product. Huawei’s mobile phone devices are cheap compared to phones produced by Apple or Samsung. Huawei also boosts of modern phones with similar features as Samsung or Apple. Pricing sets the differences between Huawei and other phone companies (Larcon, 2014). Their prices are affordable and convenient for customers. Huawei Ascend G7 is available at an affordable price that relates to its qualities. Huawei Company relies on partnership with other companies as a means of promoting their brand. This is a branding stratagem that has propelled the company to great success. The company has partnered with companies that aid it in HR, supply, finances, value control and managerial transformation. This helps in maintaining and sustaining relationships between the company and its main players, devoted customers, global customers and suppliers. The company centers on tactical partnership in promoting their brand (Hitt, 2012). Suppliers from different countries will help in promoting Huawei Ascend G7on a global scale. Communication companies for example, can help in selling the phone or brand directly to customers. This helps in increasing sales and promoting the product. Brand Equity Brand equity expresses the value or strength of a brand. It refers to the value of the intangible attributes of a brand. The brand equity of Huawei Ascend G7 can be measured and evaluated in various ways. Market research is one of the ways of measuring and evaluating the equity of the brand (Holt, 2013). I would conduct research with current, former and potential customers in order to get a clear picture of the brand’s equity. I would also rely on monetary metrics in evaluating and measuring the equity of the brand. This entails confirming whether the brand is making any profits or not. Financial or monetary metrics also involves calculating the amount of revenue generated by the brand. Tracking customer sentiments is another way of measuring and evaluating the equity of the brand. This will help in creating an understanding of the brand or phone (Clifton, 2010). If consumers believe in Huawei Ascend G7 its equity will be higher than a brand consumers do not believe in. I would consider four main things when tracking customer sentiments. I would consider the relevance and value of the phone to consumers. I would also consider the emotional connectivity between the phone and customers and customer perceptions of the phone. I would, thus, consider the feelings of different people on the product as a way of measuring and evaluating the equity of the brand. I would also consider how they make decisions when buying the phone. Competition Huawei Ascend G7 main competitor is Apple Iphone 6 plus. Apple is a leading mobile phone company. Its products provide stiff competition to Huawei’s products. However, Huawei Ascend G7 enjoys some privileges compared to Apple’s Iphone. One of the privileges is its price. Huawei Ascend G7 is available at an affordable price compared to its major competitor. This is its main strength that will propel it to success. It is also the main point of difference between the two products. This is because customers often associate with Huawei’s products due to its price (Franzen, 2008). The phone has similar features as Apple’s phone. However, most customers will go for a quality product with an affordable price. The phone also enjoys more market opportunities compared to Apple. Huawei Company has a larger market base compared to Apple. The company has a combined market force of China’s population and other populations across the world (Hitt, 2012). Its partnership with other companies also gives it more opportunities than Apple. It has been able to successfully venture into Africa, Japan and Europe. Partnering with some American Companies has helped the company to venture into the American Market. A large market base, thus, provides the brand with a competitive advantage against its main competitor. The phone faces a major threat from its competitor due to the value placed on its competitor. Apple boosts of some of the best phones in the world with high quality features and specifications. Its products are highly valued in markets such as America. Huawei Company has not been able to venture into the American market due to stiff competition from Apple (Lacon, 2014). This is a threat to the product. Its main weakness is price. Price is its main strength and weakness. Huawei’s products are perceived to be of less quality due to their cheap prices. Conclusion Branding is an important element in marketing a business organization or company. It plays a great role in attracting customers and retaining the. Brands are built by customers. This in turn builds a company. Branding plays an important role in a company. They help in generating profits and differentiating a company from others. A good brand helps a company in achieving a competitive edge over its competitors. It also helps in differentiating a company from others (Glynn, 2009). Brands create a link between a company and customers. Customers will often have an emotional link to a product. This is because they will feel good as they buy a certain product. They will also refer the brand to their friends, acquaintances and relatives. Branding creates a subjective mental picture. Companies rely on branding as a means of focusing and achieving their vision. Huawei Company is one of the largest mobile phone making company. Its new phone Huawei Ascend G7 has quality features that make it appealing to its target audience and target market. References Aaker, D. 2012. Brand Leadership. Michigan: University of Michigan Clifton, R. 2010. The Economist: Brands and Branding. New York: Pelican Franzen, G. 2008. The Science and Art of Branding. Oxford: Oxford University Press Glynn, M. 2009. Business-to-Business Management. New York: New York University Press Heckler, D. 2008. The Truth About Creating Brands People Love. Massachusetts: McGraw Hill. Hitt, M. 2012. Strategic Management: Concepts and Cases. New York: McGraw Hill Holt, D. 2013. How Brands Become Icons. The Principles of Cultural Branding. Cambridge: Cambridge University Press Kumar, R. 2009. Consumer Behavior and Banding. New York: New York University Press. Larcon, J. 2014. Chinese Multinationals. Connecticut: University of Connecticut. Wheeler, A. 2012. Designing Brand Identity. 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