Written in 2003; 1,534 words; 2 sources; MLA; $ 50.95
Paper Summary:
This paper examines how branding starts with differentiation from competitors that may involve big fish in the market or small novices. It looks at how branding is the way that provides the products or the services of a company with a unique strategic advantage by means of personality buildup that is both appealing and unique to the intended market. It also discusses how the smaller brands can compete with the bigger and influential brands and gain market share by taking advantage of the weaknesses of the bigger brands.
From the Paper:
"Another thing to consider are the sales promotion efforts. It is not wise enough to concentrate on short-term sales and ignore the long-term revenue just because there is not adequate finance available. It is often observed that the smaller companies, fearing that big companies has taken share of the market, tries to indulge in price cutting measures. However, this measure intakes heavy price for the smaller company. This is because, in the longer run the big company, if it engages in a price war can sustain price cutting and loss in revenue, but smaller companies have very little to lose and very much to be out of business. This price focus lets the smaller firm to ignore the element of customer satisfaction and building up of brand loyalty."
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