One of utmost important business strategy is branding.
Management recognize the importance of creating a brand or sustaining a brand. They realize that brands are typically a company’s biggest asset and the bigger the asset, the bigger the company. Incidentally, this is evidenced by the surveys of top brands. The top brands are associated with top ranking companies whether in terms of sales and or profitability. Examples are like Nike swoosh, the Coca-Cola lettering, the McDonalds golden arches.
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THE IMPORTANCE OF PROPER BRANDING STRATEGY |
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That brand/philosophy will: · Differentiate the company from the competitors, · Encourage loyalty from your employees and existing customers, · Attract new customers, · Enable us to expand into new products, markets and territories and · most importantly, enable us to charge a premium for our company’s product or service leading to more profit and company expansion which add value to the shareholders coffers. Click here to see ALL TOPICS ON BRANDING STRATEGY |