The Use Of Brand Name As A Strategy For Gaining Competitive Advantage

These days, it has not only become a necessity but a need for all the competitive companies to build around a brand image. Branding in fact is something that companies have to strive if they need to capture a certain share of the market place. "Branding is basically the process of creating a strong identity for an organization and it applies to both product manufacturers and companies that provide a service" (Khan, 1). We see all sorts of companies around use these days whether they have to do with the transportation sector, the services sector, the hospitality sector or some other part of the economy. Everything from house tissues to the airlines we choose to fly on are, to a great extent based on brand names and brand images. Since the market competition has become so stiff and concentrated these days, the only successful companies are those who have applied branding strategies in a very remarkable fashion and are able to fully utilize their brand name for gaining competitive advantage. It is essentially through the practice of branding that a company is able to provide a meaningful framework by which it can establish an active relationship with its new and old customers. By having a successful branding strategy, customers are able to remember a particular company and what it stands for, what type of products it sells, the quality of those products and also what to expect when using its products. Branding indeed is the key to develop and maintain competitive advantage in today's marketplace.

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