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Similarly to those projects on corporate branding and group branding, projects on business branding are on the increase these days. Especially after the Lehman Brothers collapse, an increasing number of clients are requesting branding from the perspective of either launching new businesses or revitalizing existing businesses with weakening revenues as the occasion for brand investment.
For example, AQUOS is a business brand of Sharp Corporation, PROUD of Nomura Real Estate Development Co., Ltd., and UNIQLO of Fast Retailing Co., Ltd. Even though the presence of brand may not be so great as these examples, enterprises have more or less business brands.
To develop a major business brand, approaches similar to those used for building corporate brands are employed. Generally, past investment in business brands has been insufficient. It is not an exaggeration to say that the authentic brand perspective has, in a sense, been neglected.
Take Sonpo Japan Insurance Inc. for example. Its corporate brand plays a powerful function in endorsing its affiliated businesses, hence it may not have to think seriously about investing in business brands. For instance, its car insurance product was given the simple name ONE-Step. If ONE-Step is already recognized as a subsidiary brand under its famous parent corporate brand, it will not be necessary to make substantial investment to increase the publicity of the name ONE-Step.
For another example, if a food manufacturer tries to cultivate a market for dietary supplements as its new business, it will need to make a considerable investment to build a business brand for it, because it will have to approach different customers in a different market even though the basic technologies are identical. For this purpose, while maintaining its corporate concept, it will need to create a separate brand with its own brand power.
For yet another example, if a company running a hotel business decides to operate stylish hotels appealing to young and female users under a different brand in addition to its conventional business hotels, it will definitely need to make a certain level of investment in the new brand.
Failure to carry out elaborate market analysis, customer analysis, and competition analysis and to clearly define the value of the new business before the launch could result in inconsistency among the personnel concerned with the process of business development. It could also result in failure of the brand in reaching the desired market or targets or in being smoothly accepted. Moreover, In the event of a launch of a separate brand in the same domain, it is necessary to avert the risk of clash with the existing business.
With a solid marketing perspective, we at Gramco provide branding support with a focus on profitability and on boosting sales to achieve an early recovery of the investment, for the purpose of strengthening existing businesses and launching new businesses.
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