Brand Strategy Is a Challenging Task for Essay
- Length: 4 pages
- Sources: 10
- Subject: Business - Advertising
- Type: Essay
- Paper: #36831777
Excerpt from Essay :
brand strategy is a challenging task for many companies but it is a vital step in giving the company an identity of its own. It is this identity that is repeatedly communicated thought the business life. Developing a brand management strategy involves applying marketing techniques to a brand, or a product with the intention of giving it a unique image and to set it apart from the competitors. We will focus on the competitive analysis or model analysis that will briefly introduce our project, the competition or model, as well as describing the strengths and weaknesses of the competition or model.
The group is intending to come up with the shuttle bus service which is to serve the York collage, its student as well as staff. This shuttle bus service will transport valid students and staff from York College to predetermined stops in the area. By doing so, the shuttle service will down size on the foot traffic as well as congestion, comprised of students trying to get to where they need to go, around the campus as well as be an added benefit to those students who have to travel great distances to attend York College. This overwhelming majority of students make up a considerable portion of our target audience who we feel will reap the rewards of this service in the long run.
Our target users include but aren't limited to all students and faculty who attend evening classes at York College. An astounding percentage of students at York do not live close by and must travel immense lengths to attend or teach classes here. A large majority of these people also have outside responsibilities that prevent them from taking or instructing earlier classes. This makes travel to and from the college essential. More importantly, the area in which York College is located isn't the best when it comes to personal safety at night. Understanding the environment the business operates in is a key part of planning and allows the business to discern the threats and opportunities. (Garth, 2000)
Keller, (2003), points out that an effective brand strategy gives a clear definition of its audience and it should point out to the company's personality, the products characteristics, its strengths/competent areas. The brand must also be valued on the level of commitment and loyalty it receives from its customers. In face of fierce competition from other brands, it must be in position to maintain its customer base. It is because of this that it has to have total customers appreciation now and in the future. In this case of shuttle bus service must in the same way be of great benefit to York collage, its student as well as staff.
The company must be modeled in a way that the brand will maximize its potential. Everything that transport business offers is build right from the top of its personal brand with a promise of greatness. The business model message will be consistency giving it a difference from other products. For instance, the use of a slogan gives the brand a different outlook from other brands. The message communicated by the slogan intends to change the attitude associated with the brand.
One of the main strengths of that comes from the borrowed model is its' unique, durable and genuine products and services. Secondly, it has a wide market presence which means it can easily make full trips and increase its profitability. Thirdly, the company has strategic movement plans which are always captivating and effectively does ease movement to the consumers.
The main weakness is drawn from the fact that the client base is only concentrated within this particular institution hence limited chances of expanding the client base. The untapped market segment presents an opportunity for York College shuttle since it can develop some other route that have less sophistications.
The price of a product is very important in marketing a brand. This is simply the value of the product to the buyer. The company must ask itself some questions before it embarks on setting the prices (Alex, 1999). The questions that are significant in marketing a brand include: Will a small decrease on prices attract an extra market? Will…