Synopsis of Article
Joshua Conran, author of the article The Secret Ingredients to a Successful Branding Strategy, states that “when it comes to branding, there’s no easy recipe for success.” He further elaborates by stating that branding is constantly changing and heavily dependent on the position of the company, where the company desires to be, and the status or condition of the market at the time. He uses the success of Nike as an example demonstrating how it has been able to remain in a favorable position in the market because the company constantly changes its products to meet market needs. He further explains that had Nike subjected itself to complacency, the brand would be irrelevant presently. According to Conran, the key is “consistent …show more content…
As the main competitor for Coca Cola, these changes may have been necessary to remain relevant. Although the company is primarily known for its softdrinks, according to the company’s Mission statement, its goal is to “provide consumers around the world with delicious, affordable, convenient, and complimentary foods and beverages to evening treats.” The company’s Mission also states that it is committed to “investing in our people, our company and the communities where we operate to help position the company for long-term, sustainable growth.” In keeping up with the demands of the consumers, which is a key to brand sustainability, the company included ‘minimizing its impact on the environment’ in its Vision statement. As the trend in society has become more geared toward saving the planet, the Pepsi Company has taken that opportunity to respond to consumer concerns. To be able to respond to consumer demands, however, a company must invest time and money into learning about customer wants and needs. Over time, companies have begun to develop customer focused mission statements. During the Tylenol Cyanide issue, for example, executives stated that the decision to remove the products from store shelves, at a cost of $100 billion, was an easy decision because of Johnson and Johnson’s mission statement which states that all who use …show more content…
Knowing your competitor, your competitors’ markets, and your competitors’ strategies can help increase a company’s competitive standing. An industry analysis can provide a general overview of how competitive a market is, however detailed information on specific competitors allows a company to gain leverage and a competitive advantage over its competitors. A competitive advantage is when one company performs or offers something better than its competitor(s). A company’s sustainability and relevance relies on competitive advantage. Without it, the company can easily fade into the background as if it were a nameless, faceless
Joshua Conran, author of the article The Secret Ingredients to a Successful Branding Strategy, states that “when it comes to branding, there’s no easy recipe for success.” He further elaborates by stating that branding is constantly changing and heavily dependent on the position of the company, where the company desires to be, and the status or condition of the market at the time. He uses the success of Nike as an example demonstrating how it has been able to remain in a favorable position in the market because the company constantly changes its products to meet market needs. He further explains that had Nike subjected itself to complacency, the brand would be irrelevant presently. According to Conran, the key is “consistent …show more content…
As the main competitor for Coca Cola, these changes may have been necessary to remain relevant. Although the company is primarily known for its softdrinks, according to the company’s Mission statement, its goal is to “provide consumers around the world with delicious, affordable, convenient, and complimentary foods and beverages to evening treats.” The company’s Mission also states that it is committed to “investing in our people, our company and the communities where we operate to help position the company for long-term, sustainable growth.” In keeping up with the demands of the consumers, which is a key to brand sustainability, the company included ‘minimizing its impact on the environment’ in its Vision statement. As the trend in society has become more geared toward saving the planet, the Pepsi Company has taken that opportunity to respond to consumer concerns. To be able to respond to consumer demands, however, a company must invest time and money into learning about customer wants and needs. Over time, companies have begun to develop customer focused mission statements. During the Tylenol Cyanide issue, for example, executives stated that the decision to remove the products from store shelves, at a cost of $100 billion, was an easy decision because of Johnson and Johnson’s mission statement which states that all who use …show more content…
Knowing your competitor, your competitors’ markets, and your competitors’ strategies can help increase a company’s competitive standing. An industry analysis can provide a general overview of how competitive a market is, however detailed information on specific competitors allows a company to gain leverage and a competitive advantage over its competitors. A competitive advantage is when one company performs or offers something better than its competitor(s). A company’s sustainability and relevance relies on competitive advantage. Without it, the company can easily fade into the background as if it were a nameless, faceless