1) Select 2 of the top 10 global brands. Describe how that organization is able
ID: 469845 • Letter: 1
Question
1) Select 2 of the top 10 global brands. Describe how that organization is able to so successfully reach such a global, diverse market relative to the product and/or services they offer. In other words - what is so appealing about these firms on a global level? Provide a link to an outside reference you used to respond.
2) What type of employees do you think your 2 organizations seek as "the right fit"
The 100 most valuable global brands R Add to favourites By Samantha White May 28 2014 Topics: Future of finance Technology and analytics Technology companies are the kings of the brand, according to the Top 100 Most Valuable Brands 2014 compiled by Millward Brown. Google, Apple, IBM, and Microsoft occupy the top four positions, respectively, in the ranking, which is developed using financial analysis and consumer research Technology brands make up almost 30% of the Global Top 100, Google's brand value was up by $42.5 billion compared with last year, allowing the company to reclaim the top spot from Apple, while the fastest riser in percentage terms was Chinese social network and internet portal Tencent. Its brand value rose by 97% versus the previous year to take 14th place in the table Amazon (tenth) became the first retailer to make the top ten. Brands from the telecom and banking sectors also fared well over the past year The value of the Top 100 brands has increased from $2.6 trillion in 2013 to $2.9 trillion, suggesting a resurgence of growth following the global downturn of recent years. The brand value figure is arrived at by calculating each brand's financial value based on reported earnings and predicted future earnings as well as the brand contribution from a customer viewpoint. A large proportion of this growth came from brands based in the resurgent economies in North America and Europe. Only 14 brands from emerging economies made the ranking, compared with 17 in the 2013 list. The value of brands in the apparel sector experienced the largest growth, up 29% versus the previous year. Many of the brands making their debut on the list were involved in the technology and finance sectors, with social media sites Twitter and LinkedIn joining the list at 71 and 78, respectively, along with Bank of America (94), ING Bank (98), and UBS (99)Explanation / Answer
1. The two brands that I have selected are Apple and Amazon. Apple follows a strategy of product differentiation and premium pricing. Apple has always made products with a focus on the high end of the price spectrum. Even though a small number of products are offered, the focus is clearly on innovation. Apple makes use of new developments and innovations to make products that have state of the art technology. This focus on technology and innovation has made Apple a strong brand and has enabled its products to be unique. They have been able to clearly establish the difference between their products and the products being made by the competitors.
Reference: http://marketrealist.com/2014/02/apples-premium-pricing-strategy-product-differentiation/
Amazon has been able to successfully reach a global, diverse market due to the fact that Amazon is highly customer centric and keeps a sharp eye on the developments and innovations in the market. Amazon has a culture that enables its employees to function with an eye on providing excellent customer service. The company is highly accountable and whenever a complaint is received, it is tracked so as to ensure that a similar problem is not encountered by the customer. This helps Amazon develop a unique appeal among the customers. Amazon also undertakes new initiatives and tracks developments and innovations in the market so as to better satisfy its customers. For instance, in the past, Amazon started using drones for making quick deliveries to the buyers.
Reference: http://labs.openviewpartners.com/5-ways-to-be-customer-centric-amazon-jeff-bezos/#.V5ma-9J95dg
2. For both Apple and Amazon, the right fit employees will have the following characteristics:
a. Potential employees should have different perspectives and an eye for innovation. This will help them to pursue great ideas and enable both Apple and Amazon to achieve their objectives.
b. Potential employees for both companies should believe in customer care. This quality helps the employees believe and support the mission and vision of both the companies.
c. Potential employees should be passionate about the work, values and culture of the organization. This is because it is an employee's attitude that will make the difference at the end of the day.
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