THE PROBLEM AND ITS BACKGROUND
Standing out amid a massive chorus of competitors is a challenge for any company in today’s business climate. Want evidence? Look at any magazine, TV show or surf the Internet. The number of offers and sales pitches one receives on a daily basis is simply staggering and increasingly ineffective. It’s no wonder, then, why businesses are seeking new and more effective ways of increasing the influence of their brand strategy in the marketplace. A strong brand strategy can increase the awareness of a company and its offerings in such a way that establishes strong feelings and reactions and a favorable view towards the company as a whole. To create this sort of “brand awareness” in your market, it takes skillful Brand Strategy know-how. Successfully out-branding your competitors is a continuous battle for the hearts and minds of your customers. The proposition your brand strategy makes must be very compelling, attractive and unique among competitive offerings. The proposition must also be consistently reinforced throughout all phases of an organization, from senior executives to customer service, research and development, business development and even your business partners. What entails a comprehensive and effective “Brand Strategy process?” That’s a much longer answer than what we have space for here, plus it varies from industry to industry, but here are some very basic guidelines about what makes a good brand strategy.
RATIONALE OF THE STUDY
As business firms grow in size and market power, they increasingly acquire the ability to dominate marketplace transactions with their customers. Frequently, they can dictate prices and their advertisements sway consumers to buy one product or services rather than another. The brand of the product of a business firm, if properly advertised, will make the said firm improve its competitive advantage; thus, increasingly its sales. Brand Strategy is nothing new. Yet, the expectations consumers have for a product or service they buy is stronger than ever before. This is why companies interested in long-term success must create the most promising, targeted brand experience possible. Whether you know it or not, you already have a brand, and your customers are having a “brand experience” when they interact with you, whether it be with your products and services or the people in your company. In order to craft this “brand experience” in a calculated way that is beneficial for your company, you must have a strong understanding about what exactly a brand is.
Strategy| Connection to Financial Contribution|
Generate a spike in awareness just prior to an integrated campaign to convert sales| For this strategy, a short term lift in basic awareness and interest, as well as a favorable impression, could be enough to increase the effectiveness of your marketing initiatives that follow for engagement, demand generation, and sales conversion| Condition the target audience with awareness of key attributes and advantages| Here the short term lift must educate potential buyers in order to increase the conversion rates and increase the customer value that result from your existing and new marketing and sales efforts| Re-position brand perceptions to gain new competitive advantages| A long-term strategy to shape the brand requires building awareness of specific key attributes relative to competitors’ positioning on those key attributes to eventually lead to higher preference, sales conversion, and loyalty|
The real estate market is constantly fluctuating, which can create problems in selling condos and other types of properties during down times. While condos may be an easier sell in markets where single-family homes are quite a bit more expensive, in other markets where standalone homes are relatively inexpensive, condos may be a harder sell, especially if they come with...