As a Finance Tools Orchard, its very critical for you to understand developing brand strategy is extremely critical. The most important asset your company has is its brand. Quite simply, it drives the direction of your business. So you should definitely have a well thought out brand strategy in place.
Increasing competition in business develops similar products with good quality from different manufacturers. But only an effective, innovative and Brand Strategy & planning can make your business and products more popular.
For your profession as Finance Tools Orchard it becomes your responsibility to stay connected with like-minded supporting industry experts who can guide and help you deal with your day to day work issues.
The Best Branding Strategy - Make A Real Connection
If you are entrepreneurial in nature owning a business is very exciting adventure. It can also be the most difficult thing for you to get into if you are not prepared.
Do you ever think of selling your company one day?
Even if you don't believe you would ever sell your business, brand consistency, promise, experience and image are vital to the success of your company. I've heard it many times from small business owners that they can't make a significant investment in branding because of lack of funds. I've also heard entrepreneurs say that they don't see the point; it's not like they're a global company like Nike. Still, others believe that by creating a distinct brand strategy, promise and experience, it may limit opportunities to make money from a broader audience.
If you're an entrepreneur that thinks that way, I ask you to reconsider. The branding of your company, even if you've been in operation for a week, is vital to your success.
Early Days of McDonald's
Have you ever seen McDonald's with a purple logo or anything other the golden arches? When you walk into a McDonald's anywhere in the world, you know what you're getting, and if you patronize those restaurants, that is precisely the reason why you do it.
Ray Kroc, who was a 54-year-old salesman and still looking for an opportunity that would inspire him came to learn about the restaurant of Dick and Mac McDonald who had developed a process for the food that delivered it to the customer within 30 seconds. This was a huge deal and the beginning of the fast food industry. However, when they just started working together, they were missing a broader vision and brand strategy.
Early McDonald's Mistake
It was Kroc who envisioned the opportunity to create a food company that was wholly American. In partnership with the McDonald brothers, he started operating out of the Midwest and the brothers in California. At first, Kroc created a franchise model to expand the company and grow it to scale quickly across the U.S., but he made a mistake--it lacked the high-quality and overall consistency regarding the entire operation and systems that the McDonald brothers had developed in California.
Once Kroc and the McDonald brothers were able to bring control and consistency on the whole of the operation, from the brand promise, experience, image, to the services, activities, and services, it was only then that the McDonald restaurants started to develop. What Kroc ultimately brought to the McDonald's picture is that consistent strategy across all of the franchises. That is why you have never seen a McDonald brand image be anything other than the golden arches. With McDonald's, what you see is what you get.
When the entire operation of McDonald's was consistent across the board, and a customer in California received the same service and experience as another customer in the Midwest, it was only then that the McDonald's brand started to get traction.
Benefits of Brand Consistency
When your business is consistent with the brand promise, experience and image of your company, in its entirety, your target audience and customers understand:
- They are going to benefit from your business because they know--clearly--the value that your company offers them through your products and services.
- Your customers will know what to expect from a brand that is consistent; it's not a guessing game, which will mean they will put their money down because they understand the offering.
- Customers, especially in the digital age with social media sharing and comments, will be able to communicate your brand (it's promise, experience, and image) because you are consistent in presenting yourself.
- When customers understand your brand promise, image and experience, they are willing to pay for the value of what your products or services offer them.
How Artificial Intelligence Is Taking Online Shopping Trends to New Heights
With the support of our professional business network, you get the opportunity to exchange experience and knowledge at a top professional level, and to strengthen and develop your own skills within your management and specialist areas.
Through business relationships and experience sharing in confidential settings for Finance Tools Orchard, we strive to create personal and business value for all our network peers.
To keep ahead in a fast-moving industry, leading Asia-Pacific fashion retailer Bossini needed to have better visibility into its business and operational processes through the synchronization of real-time data across multiple orders, shipments and stock-keeping units.
By leveraging the Enterprise Service Bus (ESB), Bossini is able to speed up the deployment of new applications and processes and bring new partners on board much more quickly.
The intuitive development environment of the webMethods ESB has enabled Bossini's programmers to easily, and quickly, build the large number of interfaces required to meet its complex integration requirements.
Upon transforming to a Service Oriented Architecture (SOA), Bossini could synchronize real-time data from multiple orders, shipments and stock-keeping units (SKUs) across its Point-of-Sale (POS) systems and Warehouse Management System (WMS) inventory.
• Better visibility into real-time processes with dynamic synchronization of data between point of sale and warehouse management systems
• Additional business capabilities, e.g. late shipment and sales performance monitoring via dashboards/SMS and stock-on-hand monitoring for all markets.
• Factory order allocation reduced from three days to one
• Finance month-end closing slashed from 25 days to seven
• Developer and IT productivity increased by up to 30 percent through user-friendly intuitive interface and re-use of programming objects from the webMethods ESB.
A standards-based solution
With the webMethods Enterprise Service Bus, Bossini is able to take full advantage of the standards-based interfaces to integrate with their existing systems and utilize service orchestration to connect their existing systems to their processes. This allows Bossini to speed up the deployment of new applications and processes and bring new partners on board much more quickly.
Subsequent changes are also easier to implement, and the company enjoys cost savings resulting from the re-use of the service components. "The webMethods ESB enables us to achieve real-time interoperability across numerous disparate applications, including independence from the constraints of their operating systems and hardware platforms," said Mr. Andrew Ling, Director of IT and Supply Chain of the Bossini Group.
Of equal importance is the platform's flexibility and ease of use. "This was crucial in our ability to gain competitive advantage in the fickle world of apparel retailing," said Ling. "In our decision, we also took into account the faster adoption, lower training costs and quicker return-on-investment enabled by the very intuitive design of the webMethods ESB."
Networking has always been considered a powerful tool for improving business prospects, advancing a career, and developing ideas. Other than some brief, structured events, networking has been mostly informal and inexpensive in comparison to cost they otherwise spend on different channels. But membership is growing in many formal, long-term networking groups, and so is the price tag.
Our groups are not groups for generating sales leads, nor are they places where individuals can drop-in to gain quick advice on an immediate challenge. Members also sign a confidentiality agreement and benefits from the guided mentoring to help each other.
These groups include an experienced facilitator and use a structured discussion method to ensure appropriate participation.