Managements dilemma in the digital era and Recent Trend of Strategic Brand Management in Global Prospective
It the desire of every business to succeed in developing and executing its business plans in achieving its goals through proper and effective marketing strategy. However, the current trends in the market have led to the inception of new marketing strategies that are targeting to reach a now educated customer base while attracting more customers to its brand (Hanna & Rowley 2013). To cut through the market, companies have opted not to overlook the simple reality of creating and delivering contents and products that retain and attract customers, but rather conceptualizing a modern strategic framework of designing, conceptualizing and scaling efforts in its marketing strategies. They are developing effective content strategies in marketing that is associated with the right core components as the first step to moving towards the direction. The paper, therefore, takes a critical analysis of the two articles on current issues in strategic marketing of a brand.
According to "Recent Trend of Strategic Brand Management in Global Prospective," a strong brand tends to increase consumption of a company's product translating to increased customer satisfaction. The article sets to address how a brand with great value in a big asset to the company in the market. Current issues in marketing perspective require marketing that has the foundation of knowledge and intensive studying of business models (Fatma, Kumari & Farooqi 2014). The article covers the significance of lessening brand to protect customers from purchasing wrong products. The current market is inflated with counterfeit products that have been enhanced by technology evolution. Strategic branding requires appropriate branding that ensures customers identify themselves with the company's products. India's products fetch low market prices due to poor pricing leading to poor global reception in its products. Strategic marketing cover's brand management that is oriented on customers.
The article "The community brand paradigm: A response to brand Management's dilemma in the digital era" calls upon organizations to shift their branding to meet the current digital market trends. Consumers are having a wider access to information through digital media that involves social sites leading to changes in how consumers are relating to products. The article is clear on the need for brands to change their nature and develop a partnership called consumer branding based on digital marketing through the internet (Quinton 2013). The need to understand the paradigm shift towards the digital era requires the brand marketing management to have different approaches towards marketing. These approaches include understanding that consumers hold power through the creation of digital economy, the value for co-creation, the necessary knowledge for brand management and the significance of brand communities.
These articles clearly show the need to have different approaches towards strategic marketing and branding that is devoted towards promotion of brands. They benchmark branding and marketing through considering current issues (Zahay L 2015.). To integrate current issues requires a flexible marketing plan that is well defined on targets, deep contextual understanding, and clear conversion goals.
In conclusion, a successful organization is the one that operates its business activities in accordance with the demands and environmental requirements that are important in its growth, existence and development (Bang, Ekinci, Simkin & Melewar 2015). It is necessary to adjust the culture of the company to meet the exhaustive turns in the market that are obviously changing due to technology, tastes and preferences and fashion. Hence,the need to always delivering superior products and values that are prime to the success of the business.
Bang, N, Ekinci, Y, Simkin, L, & Melewar, T 2015, 'The brand likeability scale', International Journal of Market Research, 57, 5, pp. 777-800, Business Source Complete, EBSCOhost, viewed 3 November 2015.
Gauhar Fatma, Ela Kumari & Rashid Farooqi 2014, Recent Trend of Strategic Brand Management in Global Prospective, International Journal of Emerging Research in Management &Technology ISSN: 2278-9359 (Volume-3, Issue-7). Research Article.Hanna, S, & Rowley, J 2013, 'A practitioner-led strategic place brand-management model', Journal Of Marketing Management, 29, 15/16, pp. 1782-1815, Business Source Complete, EBSCOhost, viewed 3 November 2015.
Quinton, S 2013, 'The community brand paradigm: A response to brand management's dilemma in the digital era', Journal Of Marketing Management, 29, 7/8, pp. 912-932, Business Source Complete, EBSCOhost, viewed 3 November 2015.
Zahay, D. L 2015. Digital marketing management: A handbook for the current (or future) CEO.
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