Author : Prabhu TL
Release :
Genre : Business & Economics
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis BRAND LEADERSHIP by : Prabhu TL

Download or read book BRAND LEADERSHIP written by Prabhu TL. This book was released on . Available in PDF, EPUB and Kindle. Book excerpt: The approaches and strategies that businesses employ to sell a product or service are referred to as brand leadership. A best-selling product or service that is well-known in a specific market niche is usually the brand leader. A good brand is an important strategic and financial indicator of a company's health. To outmanoeuvre competitors, an organisation must develop a strong brand identity and strategy over time. The most effective strategy to boost a brand's impact and profitability is to differentiate it through a competitive advantage. When a brand is relevant, original, and interesting, it is said to as a leading brand. Customers are more loyal to these brands, which allows the company to demand higher prices than its competitors. To improve their positions, the companies behind these prominent brands negotiate with commercial partners. They also take steps to make it easier to find and keep skilled people. Brand leadership provides businesses with a clear strategic roadmap for future growth, pushed by brands that have outperformed the market and have a market value that exceeds the book value. Brand Identity and Brand Leadership The visual components of a brand's identity that identify and distinguish it in the minds of consumers are referred to as the brand's identity. Brand identity is an important part of brand leadership; no brand can become a market leader without a strong brand identity. The message that a product or service sends to the consumer shapes brand identity. This message must be constant and establish a trusting relationship with the audience. Maintaining a brand's identity necessitates this constancy. Branding is the overall picture, and having a strong brand identity is an important component of being a leader. If you ask random individuals on the street what comes to mind when they see a yellow M, McDonald's is likely to come up frequently. This is the essence of brand identification. Brand Leadership and Value Proposition Although visible aspects such as packaging, websites, apparel, and print materials such as flyers are crucial, whether a product or service becomes a brand leader is not dependent on them. A product's potential to become a brand leader is mostly determined by the value proposition the product and company provide to customers. A value proposition is the benefit that a company provides to customers if they purchase a product. The value proposition is a statement of intent made by a brand to its customers, informing them of the company's values, how it operates, and why they should do business with them rather than their competitors. Differentiation is the reason why a customer chooses to buy from company X rather than company Y. Consumers get something from Organization X that they don't get from Organization Y. One of Michael Portner's Generic Strategies is differentiation. A value proposition can be applied to a product or a service, but it can also be applied to an entire organisation or a portion of it. The leading brand in brand leadership is usually the one that provides the most value to the consumer.