Brand Strategy
Essay Preview: Brand Strategy
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INDIVIDUAL PAPER: BRAND STRATEGY FOR PEEJAY ENGINEERING CO LTD.
The image and value of the brand is critical in consumer markets and a strong one is invaluable to an organization especially in todays global economy, where the battle for customers is intensified each day. It isnt just about the color of the logo, the type face used or even the images used. A brand is the source of a promise to a consumer of what a company is all about when it comes to its products and operations. Thus, it is a foundational piece in any marketing communication and one a company does not want to be without if it wants to stay competitive and successful. This is the reason why it is imperative for organizations to spend time investing in researching, defining, and building the brand. Developing a brand strategy can be one of the most difficult steps in the marketing plan process. Its often the element that causes most businesses the biggest challenge, but its a vital step in creating a company identity.
This paper will take a look at the branding strategy for Peejay Engineering Co. Ltd as a way of all about understanding the elements that give the brand its strength and position in the market in Ghana and provides a review of its brand development strategy.
Unlike other industries such as the service and product manufacturing, the value of the brand tends to be undervalued. This company, like many others coming up has found that there is an essential need for brand development for three reasons:
There are myriad of small and medium size business that provide architectural, engineering and construction services in various forms and variations. With is comes the difficulty of clients differentiating among these organization. Thus the better your brand the less confused clients are about your services. This enables you to get short listed
The competition for talented and highly skilled professionals (of various aspects in the field) has been steadily increasing as the preference for professional construction companies over the local system increases. Employees want to be affiliated with a strong company that has a great brand
It is believed that companies with strong brands typically have higher employee retention and loyalty, and most importantly a higher “forgiveness” rate when something goes wrong on a project.
According to the CEO, James Gyan – Johnson “a brand is a perception that is maintained by the public and describes the total experience of having a relationship with your company”. It views its brand as one that tells of its relationships – the relationship of a client with the company, the relationship of a client with a representative of the company, the relationship of a vendor/supplier with company and its representatives like the receptionist, the relationship of employees with each other as well as management, etc – since these relationships are the foundation for brand loyalty.
As any good brand strategy does, this companys is developed to reinforce its core values (Kolter, 2006) as a way of gaining credit