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Branding In Business To Business Marketing
Branding is a critical undertaking for any organization since it forms the premises upon which sustainable differentiation is realized from competitors. However, “some practitioners and scholars share the belief that “because brands are irrational that they have little significance when dealing with a corporate entity that makes decisions on a rational basis.” This assumption is wrong and ought to be ignored by any corporation that wants to win big its marker. This is an assertion that is premised on different grounds, with one of them being that branding is all about setting expectations and outlining how a business venture can be helpful to its consumers. Therefore, since corporate decisions are made on a rational basis such as the reduction of risks and uncertainty, a well-formulated branding strategy can still be compatible with this rational basis. For example, in a B-to-B market, a company such as ABB can communicate effectively how businesses consuming its product can be assured of cost-effective, efficient and environmentally friendly products. This is a brand-positioning message that is coherent to the rational based decision-making process. The research has been conducted by experts working at pay someone to do my online class.On the other hand, in the B-to-C market where promotion is intended to appeal to emotions. However, in the B-to-B market, branding needs to speak to the issue of money, time and resources saved. In this line of direction contrary to some scholars’ perception that brands are irrational, it is through branding that a company can create goodwill by speaking directly to the worries of the targeted consumers. For example, in the case of ABB, it can use branding as a way of communicating its compatibility with its consumer business operations, which will be of help in winning their support through making them realize the value that the company brings to their operations. Above all, in the B-C branding effort, there is the utilization of simple and easy messaging. However, in the B-to-B markets, an in-depth promotion is needed. This is the primary way a business can lay its case to other businesses in terms of how collaborating ends up helping the consumer business. What is, therefore, evident is that branding is an important part of the B-to-B market as it helps a company to clarify issues that are of interest to the targeted consumers, and this ultimately helps in improving the sales, which is the goal of every business venture.
Quiz II: Reasons for Rebranding
In May 2007, ABB Ltd announced a major rebranding of the ABB brand. This was a decision that was intended to help ABB to have better control of its brand. Therefore, one of the ways that the company saw as critical towards having better control of its brand it to make sure that the company comes up with consistent brand identity. This was needed because the company realized that, through its acquisition, it was now necessary for ABB to come up with a brand that was coherent with the different sub-companies and cultures within which it operated. This was a move that is consistent with the fact that for a company to be successful, then it must brand in a manner that seems to speak directly to the consumers’ needs. Similarly, with every new company acquired, it was only right for the company to have a brand identity that is accommodative of the new B-to-B market that was not under the ABB. This is because at any given time, in the B-to-B market, the branding of a company must capture the goal, capabilities, and purpose of a company. This is in line with the fact that branding is all about offering a bold reassurance to potential partners. This helps the consumer businesses to reduce doubt, as they need to make a logical decision on whether or not a company is worth collaborating with if they are also to improve their competitiveness in their markets.
The second and final reason for the rebranding was to help the company acquire a unique brand positioning. Brand positioning revolves around what a brand stands for in the market, the special characteristics a company is offering, and differentiation of the brand among its competitors. Therefore, in appreciation of the fact that with every new acquisition, ABB was also expanding its reach and its portfolio, the company needed to make sure that it positions its brand in a manner that is reflective of the new customer-based, location and needs being served. As a result, it was strategic of the ABB to make sure that it comes up with a brand positioning that is more inclusive while at the same time unique in the market. Moreover, this brand repositioning was appropriate because ABB needed to make sure that it differentiates itself from its competitors. This is because with the increased number of acquisitions, the more competitors if faced in the different markets it was now involved.
Quiz III: Timeline of the ABB Rebranding Project and Substantial Steps
The rebranding exercise at the ABB started from May 2007 where from May to June, the company engaged in brand analysis. Here the goal was to capture the status quo of ABB’s branding engagements. There was also a comparison between the external and internal perceptions of the brand. To capture the external point of view, a survey was done on the clients, external stakeholders and this helped the company to capture 31 brand drivers, which were also of interest to its competitors. This was an approach that is coherent with the fact that when it comes to assessing the effectiveness of a brand in the market, the qualities of the brand must be assessed against those of direct competitors. Similarly, after comparing its brand drivers and those of the competitors, it was clear that they were all common, meaning that whatever ABB was offering was easily accessible in its competitors. Moreover, brand touchpoints, which affects how the consumers experience the brand, were also analyzed across the countries of operation.
To learn more about the touchpoints, interviews were conducted among the employees where it became clear that the touchpoints were ineffective when it came to communicating a unique and strong brand image. Moreover, it became clear that they also did not communicate the same idea and both these shortfall made ABB not to appear as a united family to the eyes of the consumers. Besides, through the touchpoints, there was a common struggle faced by ABB, which was it fell short in presenting itself as a global engineering company.
After the brand analysis, in June-September 2007, the company was involved in the re-conceptualization of the brand platform. This goal was to come up with values that played the role of the cue for the brand’s positioning, brand personality, and communication themes. Therefore, to get an inclusive brand platform, there was the utilization of the mood board workshops where more than 60 people were involved in the process of developing values, and this gave room for all regions in areas where 200 potential values were generated. This was followed by a second “collage workshop” which was meant to condense the potential values.
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