January 10th, 2018
Carte Blanche Ltd Brand Development and Brand Strategy – conclusion
Branding strategy, when effectively formulated, serves as a source of competitive advantage for a company. This report evaluates areas of NPD and brand strategy that will ensure Carte Blanche Greetings Ltd continues to deliver excellent growth and market share over the next 3-5 years. The strength of CBG brands arises from their constant communication and innovation that has led to a favourable brand image especially fronted by the Me to You brand. Such innovation is evident through the transformation of its brands over the years to meet customer needs. Through these strengths, the entity has opportunities for extending its brands or product lines. The brand extension would be with respect to offering cards that are not oriented towards the “happy” seasons to shield the fall in sales that arises after such festive seasons. The line extension would be with respect to introducing greeting cards appropriately priced for the emerging and developing markets. Through the latter, the company can limit the impact of country-specific macroeconomic shocks on its performance.
To establish these brands, the company needs to use the customer loyalty created by its popular brands to lure customers to evaluate the new brands. Such may be by offering discounts on the popular brands for purchases on the new brands. Secondly, through effective management of communications in the social media, the entity can retrieve valuable feedback from its customers on opportunities for NPD.
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