Influence of Effective Branding Strategies on Competitive Advantage for International Businesses

Influence of Effective Branding Strategies on Competitive Advantage for International Businesses
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Influence of Effective Branding Strategies on Competitive Advantage for International Businesses
Abstract
Businesses are always trying to gain competitive advantage over their competitors. One way they do this is by adopting effective branding strategies. By adopting effective branding strategies, businesses are able to distinguish themselves from their competition while gifting themselves the best opportunity to compete favorably. In this paper, focus will be on how international organizations can grow their influence by adopting effective branding strategies. Globalization has made it easier for companies from all over the world to compete with each other. So, this brings about opportunities to set an organization apart and shift consumer opinions. As the study reveals, firms, both local and international, can only remain effective and competitive through the application of effective branding strategies.
Introduction
The process involved in positioning a product as well as the management of a global brand is the key to establishing a competitive advantage for international businesses within the global markets (Liu et al., 2018). Effective branding, as well as the positioning of a product, provides some formal competitive marketing strategy for marketing the services and products. The concept of effective branding largely focuses on the customer and the creation of a distinction amongst various entities capable of satisfying consumer’s need, therefore, benefits both buyer and suppliers. The aspect of global branding provides cases of differentiation between competitive factors that result in positioning within the international markets. The different strategies involved in effective branding help in the creation of the image on product’s quality to consumers in the market, therefore, displaying the product’s uniqueness in comparison to the rest of the products in the market. However, the success of developing an effective brand depends fully on the nature of approach on brand description that uses the marketing mix for the purposes of brand positioning. Therefore, brand positioning can be described as the part of brand identity as well as value proposition, usually communicated to the active target audience. This requires the interaction of all marketing tools through the use of marketing communication that shapes consumer perceptions (Adina et al., 2015).
The concept of building strong brands is a priority for the multinational companies since it helps in a number of advantages on the international market platform. For instance, effective brands help companies establish their identity within the market, help in providing greater sales margins as well as providing room for competitive actions. This is despite the markets providing companies with essential opportunities alongside difficulties. In this case, the global branding benefits the company since it provides customers with added value lower costs, guarantees cultural benefits as well as providing cross-border learning. The various companies which have not applied the principles of effective branding within the glob...