subject: Brand Management For The Global Enterprise [print this page] Brand is a mark of identity for the business which sets the enterprises apart from their competitors. Establishing strong brands is a result of adherence to strategies and the organization's commitment to the consumers, suppliers and other stakeholders. Surveys conducted by Vancouver-based consultancy, showcases that 72 percent of consumer's buying decisions are influenced by the brand reputation and brand names; 80 percent of employees prefer working for reputed brands at the cost of less pay packet; while 89 percent agree to brand names as a tiebreaker between competitors.
Branding is a promise to the customers and Brand management refers to the application of marketing techniques to increase customer's perception of a product, product line, value and services, leading to increase brand franchise and brand reputation. Technological innovations have played a major role in developing e-commerce and globalization of the brands, leading to a strong customer base and increase brand value. However, this has also led to increase in counterfeiting and gray market sales, making brand management a challenge for the global enterprises.
According to a survey conducted by PwC, nearly 50% of global enterprises are affected by online frauds, with B2B and B2C sales channels helping the counterfeiters and fraudsters gain access to potential victims. Brands being the lifeline of business, enterprises need to proactively use anti counterfeiting solutions for protecting and managing the brand from online brand infringements such as counterfeiting, Phishing, false advertising and redirection of website traffic to fraudulent sites. Further, most of the global enterprises outsource the production lines to low cost regions bringing in concern for protection of intellectual properties. Thus international brand management is also an issue that needs to be handled by the global enterprises.
To ensure effective online brand management enterprises can make use make use of the latest strategies of social media marketing and web-based solutions which enables a 24/7 search for internet violations with a dashboard report for analysis. This helps the global enterprises to locate and cutoff the source of the counterfeits and gray market sales.
Further, by using strategies and techniques such as Searching the internet for new targets and networks that sell counterfeits,locating large players in the arena, an extensive research on target audience to convert them to a customer and integrating social media with online media marketing will facilitate enterprises through effective management of the brand's reputation. Success of every brand is dependent on the brand management techniques and positive experience will ensure loyal customers and help establish better customer relationship.
by: Gladeyas
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