In what ways does developing a strong brand increase a company’s growth potential?
Brad McMahon's insight:
This article depicts the importance of developing a strong brand has on increasing a companys profit. Explained in 3 specific ways, firstly charge a higher price an confidentally will reflect in higher profits. Secondly a company with a strong name will easily have access to numerous distribution channels to get into. Last but not least, once trusted and has respect in the market, the brand name can be launched onto new items, thus leading to a mauch faster market penetration. No smaller companies are mentioned in the article, can this be applied to them, as well as companies that are young in age?
We interact with brands almost every moment of our day. From the moment we wake up, we’re being bombarded with logos, advertisements, and products, all designed to make our lives easier but also to make us feel a connection to companies.
Brad McMahon's insight:
This article highlights the lack of impact and engagement brands have with consumers in everyday life. brands exisit all around us an we are confronted with them almost everywhere we walk. It emphasizes the focus on outcomes rather than outputs. Companies who reach high levels of success will not be praising there great products and substantial profits, instead the way they engage with consumer. Consumers want more and they have the power to change anything.
Youtube is used by almost everyone who has access to the internet. This article/diagram explains how companies can catch on to the increasing usage of youtube by consumers to manage their brands. Basically in a nutshell it gives clear direction how to maximise your brand advert so that you can get the most from your consumers.
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