BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS ENVIRONMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A company has a strong brand name, this would be a(n)
A
Strength
B
Weakness
C
Opportunity
D
Threat
Explanation: 

Detailed explanation-1: -Brand strength is a value provided by a company. A brand can keep it high if it manages to build a positive price perception, shares the same values as customers, and offers the best quality on the market. This term is often related to brand equity.

Detailed explanation-2: -Below is a checklist we regularly use when assessing the strength of a name: Is the name aligned to the strategy, values, positioning and personality of the brand? Does the name differentiate the business from its competitors? Is the name credible and appealing to the businesses target audiences?

Detailed explanation-3: -Beyond just a memorable logo, good branding increases the value of a company, provides employees with direction and motivation, and makes acquiring new customers easier.

Detailed explanation-4: -Strong brands have clear brand core values, an unequivocal positioning, and a long-term brand strategy. Consistent brand management with the help of brand rules ensures that the brand strategy is consistently applied in operative business. This helps to prevent a brand from overstepping its credibility limits.

There is 1 question to complete.