January 10th, 2018
Carte Blanche Ltd Brand Development and Brand Strategy – executive summary
When effective, the branding strategy of a company serves as a source of competitive advantage that enhances performance in a dynamic business environment. Brands for instance help a company to vary its products by market segments that availing the entity of a method to reach a target population. Nevertheless, the high resource requirements used in such areas as research and development could curtail the capability of an entity to develop a new product. This report thus evaluates the new areas of NPD and brand strategy to ensure Carte Blanche Greetings Ltd continues to deliver excellent growth and market share over the next 3-5 years.
The strength of the CBG’s brands lie in their effective communication that has created a favourable brand image, use of multiple branding strategy and a commitment to constant development and innovation. Weaknesses in CBG however lie with its private nature, which could elicit perceptions of a foreign brand in some of its international markets, and an entire focus on the “happy” seasons market. Opportunities for the entity lie in establishing line extension to offer lower-priced brands to emerging and developing markets and brand extensions to offer other forms of cards such as those on consolation and success wishes. Threats for the brand include competitor rivalry, environmental issues, and substitutes offered by such forums as social media that have the ability to integrate photos, personal movies audio files into the greetings message without charging the user.
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. go to part 2 here.