Create a branding strategy for a small island destination (Phuket) - Literature review Example

(2005). A brand contains a trademark which is normally protected by law. The function of the brand is to identify the owner of the business. In most times, the consumer tends to think that the quality of a product is the same as the brand. The importance of branding helps a business to be able to market its products. Brands have a tendency to confuse people with the product itself. The most important thing in deciding for a brand is to select a good brand and also decide on how many brand s are to appear on the product line.

Different decisions can be decided upon. These options include the following: A company should decide on how the brand should appear to the customers as well as the stakeholders of the business. A brand that has a long term perspective should be of bigger consideration. This is according to Varumarkesskola, 2007. Good management is very important in order to ensure that the brand is kept alive and customers as well as the stake holders. An island can take advantage of its originality by acquiring other companies and penetrating to the market according to (Bradley, 2002).

The brand quickly develops from being of a local market to an international market. It thus becomes known to international market. For an island to design an international brand it has to decide on which markets to act on, accessibility of the products to the international market and whether to bring new products or to modify the existing products. Brands should be unique so that their popularity can grow faster and should be as well-being accessible. According to Ying Wong and Merrilees (2007), developments of brands on the international basis offers opportunity to exploit the economies of scale, developing global markets and pursuing of multiple market segments. However. It is important to note that, brands are not guaranteed success in the market world. Through