6 pages/≈1650 words
Business & Marketing
Revitalizing Brand (Book Report Sample)
Revitalizing Brand , Book Reportsource..
Case Study 1: Revitalizing a Brand
[Name of the Writer]
[Name of the Institution]
Case Study 1: Revitalizing a Brand
Customer service is one the most essential element of the marketing strategies to promote their product or services. The process of improving service quality leads to higher customer loyalty, therefore delivering a basis for a firm as it makes it efforts to attain economies of scale. Plaza Home Health Services is a leader in delivering health care services in Georgetown. Georgetown is located in the West North Central region of the U.S that has a population of 45,857 people. The company was established by two people, Nancy Edwards and Jennifer Moore. They started to start a company that will provide health care services because they observed an enormous growth and opportunity in the health care service sector. At the time of establishing the company, they did not have much capital to start off with.
They entered into the business with inadequate cash reserves and this enforced the owners to make some comprises on the companyâ€™s identity. The reason for the tremendous growth at the very early stages of their company was that they put more emphasized on customer satisfaction and service quality. The company believed that by providing above market average compensation and remuneration packages will help the organization to attract the most talented personnel and thus, creating a key competitive advantage. Nancy and Jennifer now attempts to invest the profits that they have made with the success of the company in upgrading, enhancing and repairing their brandâ€™s identity that they comprised earlier because of low startup capital.
Marketing Communication, Identity and Brand Position
Marketing communication relates to the activities that an organization undertakes to communicate to its existing and potential customers of its products and hence creating demand for its products(Darmon, 2007). The current marketing communication of Plaza Home Health Services is still developing as the company is young and trying to establish a strong base in a highly competitive market place. Due to the financial challenges that the company faced during its start-up period, Plaza Home Health Services has not been able to establish viable marketing communication strategies. The current marketing communication is majorly through the use of business cards, word of mouth from satisfied customers as well as personal contacts of the business owners who have experience in the industry One of the best marketing strategy and communication the company adopted is its emphasis on quality by employing personnel who are well experienced in the delivery of home health services (Armstrong & Cunningham, 2013). Although customers easily identify with the quality of the services offered by the company, the brand identity and position requires more resources as well as rebranding to create a long lasting brand which clients will be able to easily identify and recognize. The company attempts to develop a unique brand identity by introducing a new logo that will reflect the business values and principles. Furthermore, by creating this new identity, the clients of the company will be able to differentiate the products of the Plaza Home Health Services from other players present in the industry.
Plaza Home Health Services is governed by two experienced nurses, Jennifer and Nancy, who had previously served in other hospitals in Georgetown. These two experienced co-owners have thorough knowledge about the health industry dynamics and marketâ€™s needs. Nancy and Jenniferâ€˜s experience in the health care industry have provided them to understand customerâ€™s needs and wants as well as how one can offer high quality services. In the health care facility, the success of the company depends upon the level of quality service they provide(Venkatesh, 2012). That being said, employing caregivers who understand the requirement of their patients assist in promoting the brand of the company in the market.
The main strength of the Plaza Home Health Services is its focus on quality service to its patients. The company concentrates on excellence in knowledge, expertise, technology and compassionate staff. The factors that are measured for maintaining the quality comprises of quick customer service, incorporating the right medical procedures and record of clientele. Apart from that, the firm also makes use of patient scheduling system that helps to assign the patients to relevant physicians and organizing their time. The health care sector is not much saturated with many caregivers competing for a market share. The company has demonstrated outstanding performance in just one year, so much so that it enjoys a market share greater than its close rivals. The success of the company can be linked to the business style implemented by its owners, who have past experience in other health care firms in the locality.
There is more need of improvement for the firm, despite that Plaza Home Health Services operating a high quality care system. Modern practices should be adopted by the firmâ€™s current communication system and needs further improvement. The firm currently does not have a creative logo that set it apart from its competitors. At the moment, the company utilizes its full name for its logo and this significantly impacts its brand perception. The companyâ€™s logo is not much attractive and strong. The logo of the company does not reflect the true brand values and one that can be complimented to its brand name (Fortenberry, 2010). The lack of distinct, versatile and unique logo can make the brand relatively weak.Another drawback of the company is that they hire people possessing common background, thus it hampers diversity within the workplace environment. Diversity in the organization is essential because it promotes new ideas and bring unique experiences to the table in groups and work teams (Mukherjee, 2013). When managed properly, diversity in the workplace can leverage the strengths and complement the weakness of each other in order to increase the overall workforce productivity.
Plaza Home Health Services can make use of various marketing strategies to increase its revenues. The company requires establishing new marketing strategies for the purpose to expand its market share (Darmon, 2007). It has enough resources to fund its growth activities and broaden its scope. Moreover, it can utilize its business model to enhance its market share in a market with relatively few key competitors. It can leverage from vast media and other promotional strategies to increase awareness about the brand as the company is only 1 year old, so many people might not be aware about the companyâ€™s quality services.
The company has decided to make major changes in its brand logo, hence the company can face a risk of losing its goodwill among its consumers provided that if customers are not satisfied with the intended changes made in the brand logo. Furthermore, by increasing the number ofcaregivers, it will increase the wage expenses and fixed costs, ultimately putting a dent into the revenues (Armstrong & Cunningham, 2013) There are major competitors in this market and the threat is even high for the firm because its lacks visibility in terms of its brand identity.
Importance of Benchmarking
Benchmarking a brand consist of designing the logo of the company and bringing rules to reproduce the brand. In the viewpoint of Kotler &Cunningham (2013), benchmarking occurs when a company make it efforts to enhance its position in the market by comparing its own performance with the performance of its competitors (Armstrong & Cunningham, 2013). Establishing a corporate identity includes more than just having a logotype, merely creating a logo is not enough for the business. It comprises of va...
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