THE RISE OF BIG BRANDS: HOW THEY SUCCEEDED?

Today, a brand’s value is a reflection of the perception it creates, and companies can ensure its longevity by building that perception with the right strategies

Branding is now recognized as one of the most critical strategies for a company to gain and sustain a competitive advantage. The stories of giant brands such as Apple, Amazon and Tesla reveal how effective branding changes the perception of products. Apple, with its simple design and innovative technologies, is one of the most striking examples of branding.

By creating a loyal customer base with the slogan “Think Different,” the company has eliminated price sensitivity and created a premium image. As a result of this success, Apple is one of the world’s most valuable companies with a 2023 market capitalization of $2.8 trillion. Tesla, on the other hand, has revolutionized the global automotive industry with its innovative take on electric cars. Thanks to Elon Musk’s visionary leadership and “sustainable energy” mission, the company has attracted attention with its branding strategies as well as its technology. With Tesla’s stock value expected to exceed $500 billion by 2023, brand value is one of the key factors that differentiates the company’s products from others.

ECONOMIC BENEFITS OF BRANDING

The impact of branding on the price of products and the prestige of their owners is enormous. A company with high brand equity can both sell at higher prices and reach a broader customer base. According to a Harvard Business Review study, customers with brand loyalty are willing to pay 25 percent more than alternatives. Branding also has a significant impact on a company’s stock market value. By 2023, the total market value of the companies ranked in the 100 most valuable brands will reach 7 trillion dollars. This is concrete evidence of how branding increases shareholder value.

THE BRANDING JOURNEY OF INDUSTRIAL COMPANIES

Branding for industrial companies is often a longer process than for technology companies, but the impact is lasting. In the automotive industry, the global branding of Japanese brands is a case in point. Toyota has achieved brand loyalty with its “lean production” and focus on quality, and has maintained its leadership with sales of 10.5 million units worldwide in 2023. A similar success can be seen in the steel and manufacturing industries. The German company Siemens, with its values of “innovation” and “durability,” generated revenues of $87 billion in 2023 and operates in more than 200 countries. These figures show that the branding journey of industrial companies is not only effective regionally, but also globally.

BRANDING STRATEGIES: ROADMAP

There are certain strategies that companies should follow to achieve branding success:

1. Defining Vision and Mission: A company’s identity is defined by its vision and mission. Tesla’s “sustainable energy” mission has been the cornerstone of its brand. 2. Consistent Messages: Consistent messaging across all communication channels of the brand has a significant impact on customer perception.

3. Investment and Innovation: Investments in R&D activities enable companies to produce innovative solutions and differentiate themselves from their competitors. Apple and Tesla are groundbreaking examples in this field.

CONCLUSION: BRANDING IS A JOURNEY More than just creating a logo or slogan, branding is a comprehensive strategic process. It is essential for companies to focus on branding strategies to compete in global markets in growing economies such as Türkiye. Today, a brand’s value is a reflection of the perception it creates, and companies can ensure its longevity by building that perception with the right strategies.

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