Dual Branding

By upgrading their brand, it will help to identify the qualities of the products that set it apart from the competition. They have to make the

Use of their efficient R&D team to develop new products quickly to respond to new distribution channels demands. We also use of experience and knowledge to create and address the specific needs of new segments of the market. Ex. Female athletes and children. WO Strategy, overcoming weaknesses by

The company truly extended itself worldwide in 2003 with the unveiling of a global sourcing office in Shanghai, China. Currently Best Buy operates three offices within China. They are located in Shanghai, Beijing, and Shenzhen. The primary function of the China locations is to buy the products in which Best Buy Co., Inc. sells. Over the next year and a half, Best Buy Co., Inc. is planning on opening what they refer to as “lab stores”(Best Buy Geeks Run amok). The company is taking every opportunity possible to acquire as much information it can about Chinese buying patterns

These changes were necessary with the growing instability in Europe and with the ever changing economy in China so in the meantime “Best Buy has decided to explore more profitable growth options for the Best Buy brand in these markets, including the option to reopen two of the closed stores in China at a later date”.()

However, this strategy also has some disadvantages that may hurt the company’s development: The first is the fierce competition between these brands. And it is important to note that using this strategy means facing higher risks. Cost control is another big problem. Obviously, the more brands there are to manage, the higher the costs. For this reason, many prudent companies prefer brand extension over multi-brand management.

Some companies choose to adopt a brand strategy and Riezebos (2003) explains that this consists of differentiating the brand and adding value to the brand. By aiming for differentiation in a strategy, it gives a brand competitive advantage.

Brand extensions afford many companies the ability to introduce new products backed by a brands affluence, quality, or popularity. This greatly reduces launch costs, as new brand launches can reach astronomical costs. Ultimately, once a strong customer loyalty is established with one particular brand, consumers tend to purchase these new products as well (Kotler & Keller, 2016, pg. 325).

China would be the best option for Best Buy’s foreign market entry, because China has the largest population in the world, which means the demand in China may be higher than in other countries. Since the economy grows fast over years, more people went to the middle-class so they have a higher purchasing power to buy new stuff than they did before. The Chinese middle class grew up to double digits; this is promising for Best Buy to enter a market where there is a larger abundance of consumers. This would be a great way for Best Buy to increase their sales in a global market. Best Buy has a great opportunity to enter China due to the great economic increase China has. “ China’s middle class has grown from 65.5 million to in January 2005 to 80

Using a brand name, logo or packaging for years helps those companies that have been renowened with their special logo or packaging or name. For example when we talk aboout baby products our mind directly go to Jhonsons and Jhonsons. This company has mainatained this name from years and it is now become a symbol for baby products. This company use umbrella branding as well that is sell many baby products like shampoo, soaps, cream with only one nane that is Jhonsons and Jhonsons. It has many benefits such as people recognition, goodwill that has been earned could be utilized in launching another similar product in the line. In addition to differentiate one's product from duplicates the companies use same packaging a logo from years. Such as

The needs to contain costs and benefits of leveraging strong brands through acquisitions, merges, alliances, licensing by the big player while attempting to gain a bigger share or to control the market.

The company aims at ensuring that they are recognized as a leading company in its industry and rise above the noise in the market that is caused by competition.

In society today, everything has a name for it. If the product doesn’t have a well-known name, it goes by name that a well-known product that is similar goes by. Branding has made its impact on society and it’s never going to go away. In this situation, all we can do from here is analyze more and more until we fully understand its presence in society and its effects. Branding has its biggest effects on consumerism, which makes us question consumerisms power in society. Has our society become one big, replicated consumer or can a consumer or even a person still be unique and individual? Branding creates competition amongst companies throughout the world and creates a competition for the consumers. Not only, it also creates issues, creates

A strong position of the firm’s brand and relationship, and help to specific the target market of every products with the customer by using the marketing communication mix.

The buying situation differs in Canada from china, by several reasons. Best Buy Company had an entry strategy for each country, but the environment in china didn’t was as they were expecting. The Chinese were not familiar to the concept of credit, as in United States and Canada, this fact made the paying system more complex than what they were expecting.

We take your whole bag of tricks – your key messages, your core values and your online and offline brand and find ways to seamlessly merge those assets into loyal, actionable consumer behaviour. We analyse and research, measure metrics, perform technical audits, glean competitive intelligence, design and execute flawlessly.