Bowers_Ethan_Finalbranding_11122

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Ethan Bowers University of Maryland Global Campus October 31, 2022 Pro640

Executive Summary Slate Incorporate is reviewing its method of branding to establish the best choice to manage the brand in the competitive industry involving smartphones. A brand analysis of Slate’s main competitors, Apple and Samsung, will give information to the company’s decision-makers. Additionally, it would give information about strategies, customer buying habits, and competitive advantages. According to Forbes author, Samuel Thimothy, retaining customers could be easier than attracting new ones, (Thimothy, 2021). Apple and Samsung are two of the most popular brands that create loyalty and work on their brands. Both Apple and Samsung both used branding and marketing to develop their brands, (HIS, 2020). They both have been able to retain customers, (HIS, 2020). If slate wishes to build a brand and compete with Apple and Samsung, it would need to measure and examine customer equity and ensure they have a targeted customer group that could balance costs. Additionally, the company needs to create a philosophy to examine the success of its new products, branding methods, many other aspects.

Background and Theory of Brand Analyses In Shakespeare’s Romeo and Juliet, the character Juliet asks in her soliloquy, “What’s in a name? That which we call a rose by any other name would smell just as sweet.” The character argues that the names Capulet or Montague have very little value or significance in the value of that person. In business, branding is everything. Authors He and Calder (2020) argue that it is better to think of brands as assets, (He, 2020). In this way, it is possible then to argue that investments in brand strength are choices made in the entire company’s profitability, even though these ‘assets’ are not tangible or reflected in the balance sheets, (He, 2020). They argue that the difference between being profitable and not often lies in the willingness to put resources into brand-strengthening activities, (He, 2020). The same authors note that “brand strength determines how much sales is due to the brand,” (He, 2020). Brand strength is relative to the performance of other brands or companies, (He, 2020). The brand value, however, is the actual contribution to revenue, (He, 2020). Therefore, the stronger the brand, the stronger the sales performance. A strong brand is a major contribution to the nominal price of a product. However, if a brand is considered weak, the buyer will typically base their decision on factors like the availability of the product and price, rather than the name or origin of the product. The difference between strength and weakness is best understood as in the concept of ‘brand equity.’ Managing brands across multiple markets Both Apple and Samsung have managed to become established and recognizable brands across several markets. In the most recent Best Global Brands report, global brand consultancy firm

Interbrand warns that the world is thinking very differently about brands. In 2020 the world was not a happy place. Along with multiple environmental and injustice challenges, everyone was locked down in place because of the pandemic. The loss of life was overbearing. So, people thought differently about how they consume. The authors note that “some of the rising brands in our study are actively expanding possibilities, by driving decisive innovation, developing kinder, more viable business models, making hard choices and taking uncompromising stances.” Author Miranda Herbert Ferrara acknowledged that although horizontal expansion across the globe provides increased revenue and greater profitability possibilities as long as marketers pay attention to local challenges, cultural disparities, regulatory challenges, and the like, (Ferrara, 2013). He notes, By identifying the nature of those challenges and through rigorous planning and preparation, however, a way forward can be delineated and diligently traversed, to the benefit of the brand and the company as a whole,” (Ferrara, 2013). The Interbrand report suggests that being seen as a solution to current problems is becoming an important aspect of a global strategy. In the report, Apple was the most desirable brand for the ninth year in a row. The company achieved that through increased diversification into entertainment, data-storage, and music, as well as its iPhone, Mac, and Apple products. Staying close to customers with online and physical store retail solutions also assisted in their 26% increase in brand value for the year. The Samsung brand value growth for the year was 20%. Interbrand attributed their 5th place position to technical innovation. Best Global Brands Report, Interbrand, 2021 Comparison: Apple vs Samsung

Interbrand, 2021 Strong vs Weak brands - what are the metrics? Professor Rajagopal reminds us, “Consumers often anthropomorphize brands by endowing them with personality traits, and marketers often create or reinforce these perceptions by their brand positioning.” Therefore, it is important the marketers track brand performance across multiple metrics or elements to identify areas for improvement. Although brand audits are very specific to

the product and industry, brand equity can be measured by profiling a brand and its competitors against “a set of indicators and attributes.” In their study of Jordanian companies, Muhammad S. Alnsour and Muath Labib Subbah identified a wide range of brand elements being tracked and evaluated to establish a brand’s equity. The stronger the brand, the more sophisticated the elements being tracked. However, most studies involve evaluating “trademarkable devices that identify and differentiate the brand.” An inIn an introductory study of the competing brands of Apple and Samsung in the mobile phone market, it is important to evaluate their gth and weaknesses with respect to the brand elements of personality, image, identity, differentiation, positioning, communication, loyalty, and equity. Brand Analysis Report on Samsung and Apple Although there are more complex ways of evaluating brands, most analysts highlight the following as among the most important elements to consider: Brand Personality Stanford researcher Jennifer L. Aaker notes that consumers can think of brands as having personality traits, (Aaker, 2000). For example, hip and cool, (Aaker, 2000). However, it is always important to note that the consumer wishes to see themselves in the brand, (Aaker, 2000). In forming perceptions of human personality traits, the person relies on cultural norms and real demographic information, (Aaker, 2000). In the ‘brand personality,’ it is often important to consider what the consumer thinks of a product’s utility and its symbolism. In her study of consumer reactions to 37 brands, she identified five distinct dimensions to consider in

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