Branding & Marketing

Branding strategy and marketing

The Brand is the recognition of any service or company in the mind of people or the locus of the image about the particular company among the general masses. The better widespread image in the mind of the people is the main reason to reap the good profit margin from the product in comparison to the general items. Brand strategy is generally a long-term plan for the development of successful brand for achieving specific goals. The well defined and executed brand strategy affects various aspects of a business by directly connecting with consumer needs, emotions and competitive environment (Sinclair, M. T. (1998)).

For promoting the hotel chain, it is recommended that blend brand strategies should be followed because selecting one strategy does not work properly. It must use the mixture of different branding strategy such as corporate branding strategy while still maintaining individually branded product lines. In corporate brand strategies one gigantic brand is develop to include all services of company, so it will be better for us to develop such brand which can be recognized worldwide.

Goal definition is first step of developing branding strategy, the goal decide which brand strategy should be followed in the present context. As per our goal is concerned is to provide international brand with utmost luxury at exotic location of world. This goal compels us to explore the hidden natural beauty of world and develop it for international tourist. The second step is to avoid the short-term trap, which is to go for long-term development planning in comparison to short-term material gain. In the hotel industry, it is very easy to make short term benefit but to remain competitive in long term is very difficult task. Initially to develop the basic infrastructure development required huge capital but later on daily running cost decides the success of adopted strategy. 

Our planning is to plan for each steps of expansion so that no budget constraint came at any stage of infrastructure development and expansion. There is two ways to move forward first is cost differentiation or leadership and second is product differentiation or leadership. We will follow the product or service differentiation because to establish the premium brand in industry the product differentiation strategy is needed. The pricing of the service is obviously we will follow premium pricing because we are going to provide the most innovative luxury to the customer.

The third step of our planning is to maintain the flexibility in planning because the flexibility is necessary to accommodate the change (Baum, T. (1990). If planning does not contain flexibility then it is likely to fail. It is necessary to tie the brand to the business model because the brand is not the company product or logo but the general perception of the public toward the company. Being consistent in approach is also necessary in all form of communication of advertising. Clarity in the concept is the main feature to connect with the customer. 

The main differentiation in our approach is to connect with customer at the emotional level. Emotional bonding is the strongest bond and customer want to use the company service repeatedly. To maintain the long term relation with customer it is necessary that company should reward the customer to cultivate the loyalty among them. The most important way thing is to measure the success of the strategy from time to time. Measurement can be done through various ways such as PERT CPM techniques to measure the success of each step. To remain competitive in market it is also necessary to keep eye on the move of the competitor. Watching competitor move also give new dimension to think and re plans the strategy according to new situation. There should be flexibility in planning to incorporate the necessary change according to situation.