Brands have changed the normal flow of business and the process of branding has emphasized on building sustainable competitive advantage in both the short and the long run. In the similar manner it should be kept in mind that brand is all about recognition and how the customers view it is considered as the main aspect of the brand (Aaker, 2002). That is the reason why organizations stress a lot on the brand building process and the positioning of a brand. This paper analyzes the scenario of GGI house wares and the brand is actually assessed in this paper. In the similar manner the role of marketing in the society and in the firm itself is discussed with emphasis on marketing decision making.
Scenario
Global gadgets imports is actually an organization that deals in home decor and gift items and they are the importers of these items. The first retail store of this organization was opened in 1995. The core idea at that time was to give emphasis on the consumers and to value them by minimizing the distribution channel. However, after a certain time other stores were opened and side by side the distribution business was also in its growing phase. However, due to lack of marketing the organization is experiencing downfall. That is the reason why emphasis must be laid on the brand building process and the entire brand building of the organization must be optimized.
- Since GGI wants to incorporate house wares in its product line for that reason they can have discounted housewares products from its suppliers. But the point is that the brand name should be extended and since a new product is launched in the market therefore customers would resist buying that product unless a formidable name is attached with it. Therefore, there is no need to add a new brand name but GGI can market this product by saying that these house wares are made by GGI. Therefore, customers can easily recognize the brand and in this way the product line can also be extended.
- Branding seems to be an expensive measure but strategists and analysts believe that this expenditure is quite fruitful in the long run and what seems expensive in the short run might produce enormous results and boasts in the long run. A product with a plain brown paper might sell with its quality but in the long run customers cannot recognize the product because no brand name was placed on it and that is why they cannot retain it. That is the reason why a proper branding campaign must be initiated by the organization and the brown plain paper must be branded. Packaging plays an important role in the marketing process and it actually strengthens the marketing process therefore emphasis must be laid on the packaging of this product. Therefore, in this scenario first a brand name must be established and then the packaging of the packet must be changed. In the long it is highly probable that the customers would retain the brand and packaging plays an important role in it.
- GGI is interested in opening new stores and for these stores certain marketing strategies and approaches must be used by GGI like merchandising, promotional campaigns and giving discounts to the channel members. The brand name must give a fresher look to the organization and it promises value to the customers.
- Different marketing efforts must be used to increase the sales and the awareness of the brand. In the similar manner first a proper marketing plan must be developed for a new brand and then emphasis must be laid to implement that plan. Similarly, promotional activities must be initiated with the development of the brand and through these activities awareness must be created (Peter & Donnelly, 2008). Finally, feedback must be taken from the customers about the performance of the brand and whether they are satisfied with the brand or not?
Therefore, it can be said that marketing plays an important role in the decision making process and it is the brands that make or break an organization. Through effective marketing strategies the customers can be retained on a long term basis and brands can generate profitable return to the organization. In the similar manner a proper marketing decision making must be used in the entire analysis of the brand and all the macro, micro and internal factors must be kept in mind when a decision is being taken (Mullins, Walker, & Boyd, 2009). However, it can be concluded that it should be kept in mind that a brand is a single identity in the minds of the consumers and this identity should not be mixed with other similar brands of the organization. Furthermore, brand recognition is another important factor for GGI because unless and until a brand is not recognized and retained by the customers it would not give long term benefits to the organization.
References
Aaker, D. (2002). Marketing Decision-making. Simon & Schuster Ltd.
Mullins, J., Walker, O. & Boyd, J. (2009). Marketing Management: A Strategic Decision-Making Approach. McGraw-Hill/Irwin.
Peter, J. & Donnelly, J. (2008). Marketing Management. McGraw-Hill/Irwin.