Branding Management And Business

Management problem at Starbucks

The main management problem facing Starbucks is branding. Over time, the Starbucks brand has lost its reverence among customers. Consequently, the company has lost a significant number of customers. This is mainly due to inability of the management to maintain the initial brand image and reputation.

Hong, P.T.T. and Diep, D.K.Q., 2016. The Influence of Branding Management on Business Performance: Empirical Evidence from Vietnamese Food and Beverage Industry. International Journal of Business Administration, 7(3), p.36.

Hong and Diep (2016) focus on the branding management on the performance of a business. To determine the effect of branding management on business performance, Hong and Diep (2016) analyzed data from 135 small and medium businesses in the Vietnamese food and beverage. Hong and Diep (2016) established that branding management determined the level of performance. This study provides an insight in the importance of branding management on business performance. The study reveals that businesses which manage their brands effectively realize better performance. The limitation of this study, however, is its reliant on individual responses as a source of data. People are likely to provide false information. The study also concentrated only on brand management and did not consider other factors that might influence performance. Nonetheless, this article provides crucial information about the importance of brand management. It shows that good brand management helps to enhance the performance of a company and vice versa.

Kaličanin, Đ., Veljković, S. and Bogetić, Z., 2015. Brand orientation and financial performance nexus. Industrija, 43(1), pp.155-173.

In this article, Kaličanin et al (2015) try to determine the connection between brand orientation and financial performance of companies. They surveyed managers from various companies in Serbia to determine how they viewed the brand orientation dimensions in their respective companies. They then matched the results obtained from the survey with financial performance. After matching the two variables, they established that brand orientation influences financial performance. This article provides valuable information about the influence of brand orientation on financial performance. It shows that strong brand orientation enhances financial performance. The article thereby provides insight on the importance of branding to a business. One limitation of this article is that the survey carried out provided qualitative data. The data was based on the information provided by the managers. The data was thereby prone to bias and false information. All the same, the article provides crucial information about how brand orientation affects financial performance of companies.

Akhtar, S. Xicang, Z. and Iqbal, S. 2017. Impact of Brand Image on the Profitability of Firm, Analysis of Nestle Company Pakistan. Review Pub Administration Manag 5: 230

In this article, Akhtar et al. (2017) carries out a study to determine the effect of brand image on company profitability. The authors focused on the Nestle Company in Pakistan. Akhtar et al. (2017) used to collect data from 150 respondents about the effect of brand image on profitability of companies. From the results, the researchers established that brand image influences profitability. This article, like other studies, provides valuable insight about the influence of brand image on the financial performance of business. The article shows that brand image plays a crucial role in determining the profitability of a firm. The only limitation is that the study relies on responses from people for data. Some responses may be false or biased.

This article addresses the relationship between brand identity, brand equity, and performance. To examine this relationship, Goi (2013) used questionnaires to carry out a survey among 371 students in higher education institutions in Malaysia. The survey was to determine the level of brand identity and brand equity in these institutions. Goi (2013) used dimensions of brand identity and equity in the study. Some of these dimensions include distribution channel, advertising, word of mouth, and price. After establishing the level of brand identity and equity, Goi (2013) compared it with the performance of the institutions. The comparison revealed that institutions with a better brand identity and equity have better performance. This article provides valuable knowledge about the importance of brand identity on firm performance. It reveals that brand identity is one of the most significant factors which influence performance of companies.

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References

• Akhtar, S. Xicang, Z. and Iqbal, S. 2017. Impact of Brand Image on the Profitability of Firm, Analysis of Nestle Company Pakistan. Review Pub Administration Manag 5: 230
• Goi, M.T. 2013. Brand Identity, Brand Equity, and Performance. World Review of Business Research 3(4), pp.53 –60
• Hong, P.T.T. and Diep, D.K.Q., 2016. The Influence of Branding Management on Business Performance: An Empirical Evidence from Vietnamese Food and Beverage Industry. International Journal of Business Administration, 7(3), p.36.
• Kaličanin, Đ., Veljković, S. and Bogetić, Z., 2015. Brand orientation and financial performance nexus. Industrija, 43(1), pp.155-173.