What is Branding Essay Example | Topics and Well Written Essays - 250 words - 1

What is Branding - Essay Example An example of a company with a strong brand is Starbucks Cafà ©. Another company that has excelled due to its marketing strategy is McDonalds. McDonalds spends over $2 billion in advertising each year to solidify its brand value (O’brian). One of the greatest benefits of a branding strategy is that it improves customer loyalty. Customer loyalty is a great benefit because it provides companies with a steady inflow of income. Not all products are suited for the application of a branding strategy. Commodities such as gold, silver, copper, petroleum, and rice are not suitable for a branding strategy because its price fluctuates daily in stock exchanges such as NYSE, NASDAQ, and LSE. Companies that operate in industries in which there is intense competition do not benefit from branding strategies as much as firms in other industries, but branding can be use to differentiate the company. Differentiation allows firms to operate in niche markets where branding can be effective. Another advantage of using branding to differentiate is that it reduces competition. In the case of a pricing war the use of branding is not suitable because the cost associated with the implementation of a branding strategy will further deplete the operating margins of the company. O’brian, K. 4 May 2012. â€Å"How McDonalds Came Back Bigger Than Ever.† The New York Times. 8 February 2013.

First Lady Fashions and Frank Knight Essay Example | Topics and Well Written Essays - 500 words

First Lady Fashions and Frank Knight - Essay Example He is the pioneer of the â€Å"mix and match† fashion style. On the other hand, Frank Knight is Harry’s nephew and company’s treasurer. The paper will discuss the challenges that Frank faced in the enterprise. Sarah is Harry’s sister and is the corporation’s vice-president in charge of administration. The organizational structure clearly states that Frank and Sarah are at the same management level. However, apparently Frank is subordinate to Sarah. Frank lacks independence in his position as the company’s treasurer. For instance, Frank is not allowed to approve any expenditure exceeding 30,000 dollars without Sarah’s informal approval. The fact that Sarah’s support is merely informal clearly shows that the management tends to undermine Frank’s authority. The need for Sarah’s assent poses a significant challenge to not only Frank but also the company as a whole. Sarah is rash, hires and fires employees without consulting anybody and objects any proposed changes without any reasonable explanation. Sarah sacked the vice president of industrial relations despite the annual 170,000 dollars per year contract with the company. This action by Sarah negatively influenced the company’s expenses and financial welfare. Frank’s contribution to the well-being of the firm is inadequate merely due to Sarah’s interference in his job. Secondly, lack of coordination among the firm’s department hinders Frank’s workmanship. Conflicts among the departmental managers occurred on a daily basis. The managers would fiercely argue if any of them disagreed with the sales forecasts merely because the forecast jeopardised the interests of a departmental they were in charge. Moreover, the sales forecast are distributed to the top-level managers, including Frank, located in the firm’s headquarters offices. The constant disagreements and amending of the sales forecast interfered with Frank’s role as the Treasurer. Frank had to adjust financial plans continually in accordance with the frequently proposed changes.  Ã‚