商务英语阅读论文.docx
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商务英语阅读论文.docx
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商务英语阅读论文
TerminalExaminationforBusinessEnglishReadingof2021~2016(Ⅱ)
TheimportanceofBrandbuildingintoday’sglobalmarket
1.Abstract
WiththeguidanceofMr.QianwehavesuccessfullyfinishedthestudyofBusinessreadingcourse.Thiscourseissettoimprovestudents’comprehensiveability,ithasnotonlyimprovedmyEnglishreadingabilitybutalsorichenmybusinessknowledge.Inthisterm,Mr.Qianhasleduslearnedfourunitsofthetextbook.Amongthem,unit8‘Brandandbranding’makesmeinterestedmostwhichisabouttheglobalmarketpowerofAmericanbrandsandstrategiesbehindtheirdominance.Itisobviousthatbrandisimportantintoday’sglobalmarket;thereforeinthisessayIwillmainlytalkaboutwhybrandbuildingisimportantintoday’sglobalmarket.
2.Summary
Withthetidesofglobalization,numerousproductsfloodintoglobalmarket.Customershavemultiplechoiceswhentheypurchasegoodsaswellasservices.Themarketbecomesmoreandmorecompetitiveandcapricious.Insuchbackgroundbrandsaremoreimportantnowthanatanytimeinthepast100years.Inthisessay,firstIwilldemonstratethefeaturesoftoday’sglobalmarketandthenIwillintroducethedefinitionofabrand,atlast,Iwilltalkabouttheimportanceofbuilding
abrandintermsofcustomers,newmarkets,productcycleandthecompanyvalue.
3.Today’sglobalmarket
Inmanyways,today’sbusinessenvironmenthaschangedqualitativelysincethelate1980s.TheendoftheColdWarradicallyalteredtheverynatureoftheworld’spoliticsandeconomics.Injustafewshortyears,globalizationhasstartedavarietyoftrendswithprofoundconsequences:
theopeningofmarkets,trueglobalcompetition,widespreadderegulationofindustry,andanabundanceofaccessiblecapital.
Atthesametime,wehavefullyenteredtheInformationAge;Startingbreakthroughsininformationtechnologyhaveirreversiblyalteredtheabilitytoconductbusinessunconstrainedbythetraditionallimitationsoftimeorspace.Today,it’salmostimpossibletoimagineaworldwithoutintranets,e-mail,andportablecomputers.Wearerapidlyshiftingfromaneconomybasedonmanufacturingandcommoditiestoonethatplacesthegreatestvalueoninformation,services,support,anddistribution.Thatshift,inturn,placesanunprecedentedpremiumon“knowledgeworkers,”anewclassofwealthy,educated,andmobilepeoplewhoviewthemselvesasfreeagentsinaseller’smarket.
Anothermajortrendhasbeenthefragmentationofconsumerandbusinessmarkets.There’sagrowingappreciationthatsuperficiallysimilargroupsofcustomersmayhaveverydifferentpreferencesintermsofwhattheywanttobuyandhowtheywanttobuyit.
4.Thedefinitionofabrand
AccordingtoWikipedia,abrandisasetofmarketingandcommunicationmethodsthathelptodistinguishacompanyfromcompetitorsandcreatealastingimpressioninthemindsofcustomers.Thekeycomponentsthatformabrand’stoolboxincludeabrand’sidentity,brandcommunication(suchasbylogosandtrademarks),brandawareness,brandloyalty,andvariousbranding(brandmanagement)strategies.Brandequityisthemeasurabletotalityofabrand’sworthandisvalidatedbyassessingtheeffectivenessofthesebrandingcomponents.Inafleetingmarketwheretraditionallinearmodelsofbusinessarebeingreplacedbymoreradicalinterconnectedmodels,brandequityisonemarketingtechniquethatremainsfirmlyrootedinprosperity.Toreachsuchaninvaluablebrandprestigerequiresacommitmenttoaparticularwayofdoingbusiness.Acorporationwhoexhibitsastrongbrandcultureisdedicatedonproducingintangibleoutputssuchascustomersatisfaction,reducedpricesensitivityandcustomerloyalty.Abrandisinessenceapromisetoitscustomersthattheycanexpectlong-termsecurity,acompetitive
frameofreferenceandconsistentdeliveryoffunctionalaswellasemotionalbenefits.Whenacustomerisfamiliarwithabrandorfavorsitincomparablytoitscompetitors,thisiswhenacorporationhasreachedahighlevelofbrandequity.
Tosumupabrandisasetofmarketingandcommunicationmethodsthathelptodistinguishacompanyfromcompetitorsandcreatealastingimpressioninthemindsofcustomers.Thekeycomponentsthatformabrand’stoolboxincludeabrand’sidentity,brandcommunication(suchasbylogosandtrademarks),brandawareness,brandloyalty,andvariousbranding(brandmanagement)strategies.Abrand(ormarqueforcarmodel)isaname,term,design,symbolorotherfeaturethatdistinguishesoneseller'sproductfromthoseofothers.Brandsareusedinbusiness,marketing,andadvertising.
5.Theimportanceofbuildingabrandintodays’globalmarket
winningcustomers’loyalty
Consumerstendtofavoranddevelopahighdegreeofloyaltytobrandstheyknowtheycantrust.Thisrequiresestablishingandcommunicatingabrandpromiseandbuildingacustomerexperiencethatupholdsthepromiseconsistentlyateverystageofthepurchasecycle.
Trustcomeswithconfidenceintheunderliesthatdefinethebrand:
quality,responsiveness,experience,credibilityandinnovation.It’snotjustpersonalexperiencethatshapestheconsumer’strustandexpectationsthatabrandwilldeliver.Strongbrandscreateevangelistswhoarenotshyaboutsharingtheirstories.Thosetypesofpeerendorsementsareextremelypowerfulwaysofvirallybuildingabrand’strustfactor.
Whenpeoplearefamiliarwithbrands,theyaremoreinclinedtofavorthem–providedtherearepositiveassociationsinherenttothatfamiliarity.Thevisualrepresentationsareimportant.Thelookandfeelthatdistinguishthebrand,fromcolorstologotothenameofthebranditself,needtobeconsistentandeasilyrecognized.Thiscreatesacomfortandconfidenceintheproductorservicethatthebrandrepresents.Itcanalsohelpdifferentiatethebrandfromtheincreasingnumberofcompetitorsinacrowdedmarketplace.
winningnewmarket
TheworldhascomeonlineandtherearemanynewmarketsandagrowingmiddleclassinplaceslikeIndia,China,Brazil,Russia,SouthAfrica,Nigeria,Indonesiaandinmanymoreplaces.Theseconsumersbuybrands.Theybuypremiumbrands.Thebestbrandingtodayisbasedonastrongidea.Thebestbrandshaveremarkablecreativityin
advertisingtohelpthembreakthroughpeople’swallofindifferencetocreatebrandheatandproductlust.CaseinpointtherecentturnaroundofChryslerandit’srelianceonmarketingandadvertising.OrlookatthereinventionofLevis.AndafinalexampleisthiscampaignbymyownagencywhichhashelpedreenergizeoneofAmerica’sgreaticonicbrandsJimBeam.
Outlivingproductcycles
Brandsarepsychologyandsciencebroughttogetherasapromisemarkasopposedtoatrademark.Productshavelifecycles.Brandsoutliveproducts.Brandsconveyauniformquality,credibilityandexperience.
NowadaysifyouwanttocreatenewbrandsatNewYorkCityadvertisingagencyStrawberryFrog,youhavefewerbrandnamestochoosefrom.ThePharmaceuticalIndustryhaspatentedeverythingunderthesunfornewmedications.Thismakesexistingbrands,withtheirstrong,well-knownnamesandcredibilitymorevaluable.Italsomeanscreatinganewvibrantbrandisachallengewhichrequiresasophisticatedstrategy.Itisnotjustaboutaproductandaname,it’saboutalotmore.
Thesophisticatedstrategyisaculturalmovementstrategy.Ibelievethatbuildingbrandsnowrequiresaculturalmovementstrategyasopposedtosimplyabrandbuildingstrategy.Aculturalmovement
strategycanaccelerateyourbrand’srisetodominance.Onceyouhaveculturalmovement,youcandoanythinginafragmentingmediaenvironment,maximizingthepowerofsocialmediaandtechnology.Theworldhaschanged.Wearenowlivingintheageofuprisingsandmovements.Nowbuildingbrandshasbecomealotlessexpensiveandsmartbrandscantakeadvantageofnewtoolsandrocketupthereglobally,veryfast.
Inthefaceofthecurrenteconomicchallenges,it’sworthnotingthatbrandsdobetterintoughtimescomparedtounbrandedproducts.Brandsoutliveproductcycles.Andinthesechallengingtimes,therearestillgreatbrandsbeingbuilt.Brandownersstillrecogniseopportunityandtheirbrandswillthriveintheyearsahead.BrandssuchasH&MofSweden,orTeslaagreatnewcarbrand,aswellasnewnamessuchasTom’sShoes,HonestTea,andarisingbrandfromFloridacalledEuropeanWaxCenterwhichInc.Magazinenamedacompanytowatch.
Addingthevalueofacompany
Brandsarevaluable.Manycompaniesputthevalueoftheirbrandontheirbalancesheet.
WhenTataMotorsofIndiaboughtJaguarandRangeRoverfromFord,whatdidtheybuy?
Factories?
RawMaterials?
Employees?
NoGoldmanSachsandMorganStanleyhelpedFordsellthebrandstoTatafor$
billion,andthebrandswereworthmorethanallotheringredientscombined.
Likewise,whenKraftboughtCadburyfor$Billionwhatdidtheybuy?
Thechocolate?
Thefactories?
Therecipes?
Thecandymakers?
Notheyboughtthebrands.
AndwhenFourSeasonsHotels,Inc.,aCanadian-basedinternationalluxury,five-starhotelmanagementcompany,solditselftoBillGatesandandPrinceAl-WaleedbinTalalofSaudiArabiafor$billionwhatdidtheybuy?
Locations?
Restaurants?
Staff?
Beachfrontproperty?
Notheyboughtthebrand.
ThelistgoesonwithmanyexamplessuchasInBevacquiringBudweisertoaddtotheirhouseofbrandsthatincludesStella,BecksandLabatt.OrGeeleyMotorsofChinaacquiringcultSwedishAutobrandVolvo.OrMahindraofIndiabuyingSsangyong,Korea’sthirdlargestcarcompany.
Brandingisfundamental.Brandingisbasic.Brandingisessential.Buildingbrandsbuildsincrediblevalueforcom
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