1. The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. The IHCL hotel brands are the Taj, Vedanta, and Ginger. Why has IHCL created a portfolio of different brands in the same product category? Is IHCL following a sustainable strategy?
Ans:
Introduction:
The Indian Hotels Firm Limited (IHCL) is a leading hospitality business in India that operates various hotels, hotels, and other hospitality companies under different brand names. The company’s portfolio of brands includes Taj, Vivanta, and Ginger, which use a distinct blend of Indian hospitality and world-class service. IHCL’s technique of developing a profile of various brands in the same item category has assisted it in catering to multiple sections of the marketplace and achieving sustainable development.
Concept & Application:
Developing a profile of various brands in the same item category is a strategy firms use in different markets. In IHCL, the company has produced a portfolio of brands providing other rate factors and consumer choices.
One of the primary benefits of IHCL’s profile method is that it permits the firm to separate its brands based on solution, price, and quality. For example, the Taj brand interests high-end vacationers who want to pay a costs price for premium lodgings, while the Ginger brand interest budget-conscious tourists that prioritize affordability over high-end. This distinction can aid IHCL in appealing to a broader series of customers and boosting its market share.
Conclusion:
To conclude, IHCL’s profile of brands shows its approach to satisfying various sections of the market and providing a complete range of hospitality remedies. This has assisted the firm in attaining sustainable growth and enhancing its brand online reputation. IHCL’s commitment to sustainability and social obligation has helped it reduce its environmental effect and boost the well-being of its communities.
2. Sony started as a player in Walkman and is currently serving mobile phones, speakers, headphones, television, and other product categories. Comment on Sony’s brand extension strategy? Is Sony right in employing brand extension to expand business’s competence into different product categories?
Ans:
Introduction:
Sony is a Japanese multinational corporation that has existed for over 70 years. It started as a tiny electronics firm in the aftermath of The second world war, yet quickly grew into a significant player in the electronic devices sector. One of their most renowned products was the Walkman, a portable cassette player that revolutionized how individuals paid attention to music.
Concept & Application:
Sony’s brand extension strategy has been critical to its success. By leveraging their brand equity and credibility for top quality, they have entered new markets and broadened their service.
Brand extension is an advertising technique that uses an existing trademark name to introduce a new product or service in a different product group. It is a primary method of broadening a firm’s product line and raising its market share. Sony is an ideal example of a company that has employed brand expansion to expand its service into different product classifications. Sony started as a Walkman gamer and currently serves cell phones, audio speakers, headphones, television, and other product groups. This essay will review whether Sony is right in utilizing brand extension to expand its organization into various product groups, along with its disadvantages and benefits.
Conclusion:
Offered the affordable nature of the market, Sony’s brand extension technique has been confirmed to be successful, as the business continues to control different product groups. Inevitably, the effectiveness of brand expansion depends on the company’s ability to handle its brand equity and preserve top-quality standards across its product lines.
3. a) Can brands be human? Is it possible to associate human characteristics and traits with the brand to which the customers can relate? Explain with an example. (5 Marks)
Ans:
Introduction:
In the modern business world, the principle of branding is not nearly developing a unique logo or designing a catchy tagline. It has to do with producing an emotional connection with the customers that makes them feel a personal attachment to the direction of a specific brand.
Concept & Application:
The idea of providing human-like traits to brands has been introduced previously. It’s been around for years. The suggestion behind this concept is that, similar to people, brands can have characters, mindsets, and worths that make them relatable and unique. By developing a brand personality that reverberates with the consumers, brands can establish a long-lasting psychological link with their target audience.
Conclusion:
Finally, it’s possible to associate human qualities and traits with brands. Brand archetypes, brand voice, and regular branding are all means to offer brands human-like attributes. By producing a brand individuality that resonates with the customers, brands can establish a lasting emotional connection with their target audience.
b) After parting ways with Honda in 2011. Hero Moto Corp decided to go for a complete overhaul through repositioning with a change in their logo, slogan and tagline to ‘Hum Mein Hai Hero’. What strategy was adopted by Hero Moto Corp for repositioning? (5 Marks)
Ans:
Introduction:
Hero Moto Corp is the globe’s biggest supplier of two-wheelers, based in India. The firm, formerly known as Hero Honda, was a joint endeavor between Hero Group and Honda Electric Motor Business. In 2011, Honda was determined to finish the collaboration, and the business had to undergo a complete overhaul. After that, Hero Moto Corp decided to reposition with a change in their motto, tagline, and logo to ‘Hum Mein Hai Hero’.
Concept & Application:
Rearranging is an advertising approach that includes changing the perception of a brand in the minds of consumers. It can be provided for various reasons, such as to separate the brand from its rivals, to target a new audience, to restore a declining brand, or to adapt to transforming market fads. Rearranging is a tough job as it calls for a significant financial investment of time and sources. However, if done correctly, it can cause boosted brand understanding, client loyalty, and earnings.
Hero Moto Corp embraced a rearranging strategy to distinguish itself from its competitors and target a new market. The business intended to establish itself as a brand that equips people and inspires them to do much better. Hero Moto Corp altered its motto, tagline, and logo design to attain this.
Conclusion:
Rearranging is difficult, but if done correctly, it can increase brand understanding, consumer commitment, and success. To conclude, Hero Moto Corp adopted a rearranging strategy to differentiate itself from its competitors and target a new target market.
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