Discussion
Part 1: "Strong Brands"
Respond to the following:
1. Several companies use their brand as a competitive advantage. Given your knowledge about the global economy, identify three brands you believe have the strongest likelihood of remaining a source of advantage in the 21st Century and explain why.
2. Explain the effects you believe the Internet's capabilities will have on the brands you identified in the previous discussion and what the owner of the brand should do in light of them. Conduct additional research and CITE YOUR SOURCE.
Part 2
As the economy becomes more intertwined globally, there is a homogenization of products that has begun to happen. Brand super powers are making their brands a competitive advantage across the globe. Three businesses that I believe have the ability to keep their brand as an advantage are Nike, Amazon and Visa. Though the top global brands in 2017 were tech companies like Google, Microsoft and Apple, I'm not confident that they have the staying power as technologies continue to develop and new players emerge.
Sport is a part of human existence, and sports have been played by cultures throughout time. Nike is a brand that has already created a wide global footprint, with a presence on six continents. The iconic "swoosh" and the positive tagline that everyone knows "Just Do It" means that Nike has already made its way into the global economy. The reason that I believe Nike has staying power is that its brilliant marketing technique - to sponsor the most elite athletes - means that people will continue to emulate - and try to look like - the best athletes in the world. The Internet's capabilities to sell in all corners of the globe is an asset to Nike, as it eliminates the needs for expensive brick and mortar stores, as well as third-party retail supply chains. Nike has already transitioned to from standard brick and mortar to elite flagship stores, and experiences, rather than simply retail channels.
As the retail market changes, Amazon is well positioned to continue to create global reach. With current market presence in Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, the Netherlands, Spain and the UK, in addition to dominating the US market, Amazon has changed retail experiences forever. They have also built a supply chain that beats all competition in both price and speed. There are certainly global competitors, like China's Alibaba, but I believe that Amazon has enough of the market and earnings to keep itself in a position of power. Obviously the internet's capabilities to sell online are the backbone of Amazon's success. As these capabilities continue to evolve, Amazon is well-positioned financially to be on the cutting edge of that innovation.
Finally, if you're going to be wearing Nike, or purchasing things on Amazon, you have to pay for it. Visa's slogan "It's everywhere you want to be" indicates that the company has focused on a global footprint for quite some time. Even as the mechanics of payments change - through online sources, from your watch, or your phone, those transactions are still done through Visa, who remain on the cutting edge of contactless pay, and payment security.
I'm looking forward to your thoughts and which brand you think have staying power.
References:
About Amazon. (2018).
About Nike. (2018).
About Visa. (2018).
Daneshkhu, S., & Campbell, C. (2017, August 20). Top 100 Global Brands, 2017.