Brand Strategy Must Never Go Out of Your Sight

Brand Strategy Development

In the last few decades companies have understood the value of a brand and its association with its customers with their progressive learning curves. They learned that brands are intangible assets and can increase and decrease in value reflecting its familiarity with its target consumers. Having a clear vision and complementing it with a powerful value chain is what one is required to do. But in the due course it is essential to revisit the basics of one’s brand and its association with its segment. Companies must either think of new ways to contribute to the brand or must integrate its value chain components in an efficient manner than before. This will please its customers giving rise to a whole new brand strategy for it to follow which it can use as an advantage in the future.

Samsung electronics was only limited with its dominance in the flat panel televisions but now it is a true global brand. The brand has expanded its reach from being stationed itself in the living rooms to the pockets of people with its range of android phones. People now recognize Samsung as a tough competitor to Apple, which helps its customers to share personal information with the best technology available in the market. Unlike those days, when the brand only hung in the wall broadcasting programs for few hours, it now enjoys a personal relation with its users helping them to make calls, play online games with their friends and stuffs that add value to human life in deeper ways. Samsung’s brand strategy was to clearly establish itself as an elite name in the electronics market and it did that utilizing its resources more effectively that it did before. The Interbrand global ranking for 2011 has evaluated Samsung at 17th spot among the brands with highest brand values. Samsung has also grown its brand value by more than 20% and is among the highest gainers in the 2011 Interbrand list. Samsung is defiantly one of the biggest brands from Asian markets in the present time.

As Samsung evolved and increased its brand value gaining respect, Nokia which used to be the leader in the phone market saw a staggering 15% fall in its brand value in the same year. Nokia failed to continue its tradition to remain the most user friendly phone maker. Nokia did not see the touch phenomenon heading its way and when it finally did it was too late. The current market of Smartphones now has lesser Nokia phones and that’s decreasing with each day. Nokia never anticipated that touch screens which were already existing in the market could hit its range of Smartphones like a thunder strike. Given Nokia’s technical knowhow, it can be assessed that Nokia could have made something similar to android powered Samsung phones or I-Phones but failure to anticipate and carry out a strategy to counter the surge from Samsung and apple reflected its lopsidedness with its brand strategy.

With time brands undergo changes and evolve. They put in their best resources to gain and retain customers. Although many fail in this process but those who succeed are found to have maintained their close connection with their customers with time.

Charles Elena Design is an award winning web design studio in Melbourne specialized in defining for corporate branding, brand development and brand management related services. Visit http://www.charleselena.com.au for brand management services of the highest standard.