Brand Management Highly Competitive Market

Question: Discuss about theBrand Management for Highly Competitive Market. Answer: Introduction: Brand management defines the planning followed by the organization to uphold brand position in the highly competitive market. The company endeavors to incorporate brand management strategies that assist to attract the attention of wide range of customers towards the brand product of the organization that affects their sales growth and business operation. In the present scenario, management strategies of Starbucks have been discussed that aids the company to attain the increasing demands of their customers all around the world. Description of Facts Regarding Case: In the present study, the brand management strategies of Starbucks located in Australia have been described that helps this organization to expand their business in the current location. Kapferer (2012) has mentioned that $1.8 billion dollars of Australian market is possessed by the retailing market if coffee shops. Therefore, Starbucks has launched its outlet in different locations of Australia in 2000. The company has introduced 1,400 cafes serving variety of coffee products in Australia that affects their sales growth in recent years. However, in current times, the company has faced decline in sales of their coffee items and the profit has by 28% in present year. Therefore, the company has focused on introducing the brand management strategies that help to retain the attention of their service users buys enhancing the quality the brand product. Nysveen, Pedersen and Skard (2013) has deciphered that Starbucks has followed these brand management strategies that helps the enterprise to address the needs of clients and to improve the quality of coffee products to quench the demands of service users in the existing market. Brand management assists the company to regain their market position that also affects their sales operation. Address Key Issues of the Case: Starbucks has faced challenges to retain the quality of their brand products in the present market. Dinnie (2015) has stated that lack of business experience affects the position of Starbucks in this highly competitive market. Therefore, the company has followed brand management strategy as an essential part of their business that aids to develop the brand position in the present country market. The STP analysis of Starbucks helps to understand the market segmentation that aids to comprehend the different client needs prevalent in the market of Australia. Analysis of the market segments assists the company to address a single target market to expand their marketing programs. Brand management strategies of Starbucks help the organization to hold firm position of their brand product on the chosen market (Rosenbaum-Elliott et al. 2015). Starbucks has worked on using different logos and images to promote the brand product. The catchy promotional lines help to draw the attention of custom ers in Australia. Starbucks of Australia has also focused on brand marketing that assists to enhance the communication between the company and its clients. The company also works on building the brand value and considers brand performance that helps to address the brand management strategies followed by the enterprise. Revision of Alternative Course of Action: In opinion of Wirtz et al. (2013), SWOT analysis helps the organization to understand the strengths, weakness, opportunities and thread that affects their business. Financial performance if Starbucks helps the company to hold a strong position in the market. The size and volumes of the coffee shops of Starbucks help the company to offer their service to wide range of customers in the country. However, the company has recently faced allegation regarding unethical possessing of coffee beans. It affects the dignity of the company that affects the business. The unavailability of variety of products shifts their customers' attention to other coffee serving companies like Caf Coffee Day and so on. Despite several challenges faced by Starbucks, the company has scope to expand their market by introducing wide range of coffee products. The organization also works on expanding their supply chain system that helps to resist the illegal consumption of coffee beans. Lundqvist et al. (2013) have o pined that the company faces threats from high pricing of coffee beans that affects their productivity and profitability. Constant competition with local coffee shops is an existing threat received by the company. Analysis of Alternative Course of Action: SWOT analysis of Starbucks helps the company to address its strength, weakness, opportunity and threat. Here, the strength aids to understand the inner abilities if the organization. In case of Starbucks, SWOT analysis aids to identify the different external and internal factors that affect the business operation of the company. Strong position in global market, high quality of the food products is the strengths of Starbucks that helps the company to enhance their business in the global market. On the other hand, the Starbucks faces certain issues regarding the availability of the raw materials. Availability of imitable products, higher ranges of product price is some weaknesses of Starbucks that affects their business operation. However, Starbucks has the opportunity their business in local market of Australia that helps to expand their business in the domestic domain. Partnership working also helps the enterprise to improve their service facilities provided to customers. Abratt and Kleyn (2012) have mentioned that Starbucks faces tough competition from the local coffee retailers that affects their sales and profit margin. Many competitors of Starbucks have imitated their business idea that affects their business operation. Social movements in support of small independent coffee houses trail the opportunities for large coffee house chains like Starbucks (Balmer 2012.). Recommendation: SWOT analysis of Starbucks helps to understand the present condition of the company. It assists to address the business strength of Starbucks that affects their business performance in Australia. However, the company should focus on availing opportunities to expand their business in global market. The introduction of innovative coffee products within a low-cost will help to arrest the attention of customers globally. The organization should consider ethical issues to protect their internal data to reduce the chances of imitating their products by rival companies. Therefore, Starbuck should level their product and should consider trademark to restrain unauthentic possession of their product by other business organizations.. Conclusion: In the present scenario, it can be deduced that brand management strategies of Starbucks assist the company to maintain the quality of their products that to increase the sales rate. Starbucks of Australia has endeavored to introduce brand management policy that aids the company to increase their sales volume and to attain the changing needs of wide range of service users in different locations of the country. Starbucks has worked on introducing marketing policies to retain their regular customer and to draw the attention of new clients. It helps the company to increase the brand value of their products among the customers. References List: Abratt, R. and Kleyn, N., (2012). Corporate identity, corporate branding and corporate reputations: Reconciliation and integration.European Journal of Marketing,46(7/8), pp.1048-1063. Balmer, J.M., (2012). 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