1. Brand and branding
A brand can be defined as a set of tangible and intangible attributes designed to
create awareness and identity, and to build the reputation of a product, service,
person, place, or organization. The objective of branding strategy is to create
brands that are differentiated from the competition, thereby reducing the
number of perceived substitutes in the marketplace, increasing price elasticity,
and improving profits. Branding strategies are built on the interdependent
frameworks of competitive brand positioning, value chains development, and
brand equity management. Competitive brand positioning requires the
identification of a distinct market space and a cognitive location as perceived by
consumers. Value chain development is based primarily on product development
and market development. Product development includes strategic initiatives on
product design, product innovation, and the ability to introduce new product lines
and category extensions. Market development revolves around pricing strategy,
distribution strategy, and marketing communications. Brand equity is the set of
assets and liabilities associated with a brand. The trend in branding is moving
beyond the customer's perception of a brand, to the measureable metrics of
customer satisfaction throughout the value chain.
3.Brand stretching
Brand stretching – is a using a successful brand name to launch a product in a new
category. Some brands easily stretch into other kinds of goods and services. Brand
stretches best when they come from a high emotional starting point. One of the
most successful brand-stretchers is Walt Disney, which has added merchandise
shops, books, videos, games and theme parks to its original filmmaking. The move
from making children’s cartoons to other products using the same figures appears
a natural development.
With their high brand awareness and brand loyalty, many luxury labels for
example have successfully extended their product lines from clothes to
accessories, then stretched them further to perfume, make-up and even to
furniture and hotels. However, not all attempts at brand stretching are successful
and the risk of damage to the image and credibility of the original brand needs to
be evaluated. Issues like cost-effective production, distribution and economies of
scale all need to be taken into consideration too.
4.What makes a successful brand'
Unique brand identity.
Businesses are obligated to stand out from the crowd. Whereas this may be a tall
order, standing out entails having that unique value proposition that sets your
business apart.
Inspire passion and commitment.
Selling is ultimately dependent on what your target audience feels and thinks
about your product.
It is therefore important that your brand inspires passion and commitment from
your clients - this is delivered by your sales agents and team in general.
Consistency in quality.
Competitive teams.
Competition is guaranteed in any industry that one decides to venture into.
Competitive teams will devise new sales and marketing strategies that ensure the
product secures a wider reach within the target market. They also increase
consumption and product loyalty through constant innovation to improve the
quality of the products and services provided.
Effective leadership.
Behind every successful brand is a leader who understands the core objectives of
the company. Effective leadership is about motivating the different personalities
existent in various departments to read from the same page and deliver on the
bigger picture – results!
5. What is the role of Human Resources department
What Is a Human Resource Department?
A company's human resource department is tasked with the training and
development of its workers, who are considered some of the company's most
important resources.
Also known as human resources (HR), the human resource department's mission
is to make sure the company's employees are adequately managed, appropriately
compensated, and effectively trained. The department is also responsible for
recruiting, hiring, firing, and administering benefits.
A human resource department is involved with making sure the company has a
solid roster of employees, who are trained to fulfill their roles and compensated
appropriately for doing so.
The human resource department provides effective policies, procedures, and
people-friendly guidelines and support. Additionally, the human resource function
serves to make sure that the company's mission, vision, and values are part of the
company culture.
8. What Is A Head Hunter?
A head hunter is a person who specialises in recruiting candidates to fill specific
vacancies.
The element that distinguishes a headhunter from a regular recruiter is that they
seek to fill specialised roles for highly qualified candidates. Often this process
involves poaching or “headhunting” candidates from an existing role, as the skills
they possess are desirable and often in high demand.
The purpose of engaging a headhunter to find a candidate in this way, as opposed
to opening the job up for recruitment consultants to erecruit for, is to identify and
secure the right person for the job instead of going through all of the steps of
recruitment. A company may find that they have a particularly involved
recruitment process if they were to advertise for the kind of job a headhunter is
engaged to fill, as this kind of role is often highly desirable and would attract a
large number of applications.
On many occasions, a company will be aware of the candidate they would like a
headhunter to approach. It is not possible, or necessary, to headhunt for many
roles within a company.