Essay Example on With the great level volume of competition in the Business









With the great level volume of competition in the business world it's never been more vital to develop a distinctive identity and value proposition through branding Though it's imperative to offer a quality product and service effectual branding is a central element which makes companies sustain and succeed I would like to discuss how Airbnb found its unique disruptive business mission and brand driven storytelling Airbnb had a great success in sharing economy and penetrated into customer s consciousness and rung up 30 billion valuations Airbnb had a unique challenge which is the notion of staying in a stranger's home or to host a stranger These scary thoughts led the brand s very first international TV campaign Never a Stranger I think as an MBA student it is important to loom into uncomfortable truth and address concerns to their advantage The heads of the company formed a strategic partnership with KLM plane and American express to establish trust and credibility to create an overnight experience 

According to company's mission the customer both hosts and guests is their brand strategy In 2013 the company reoriented its mission and the central elements that made using the service so unique Douglas Atkins head of community restructured the brand s message by posing the questions of the purpose of Airbnb existence its purpose and its role in the world The team interviewed 480 participants and they found out that the last thing their customers want to be tagged as tourists and too passive for them Instead the company found from their interview that their customers want to enjoy the rich culture and engage with their hosts and wants to be an insider With the gamut of research the company changed their brand identity and the message to belong anywhere The company's rediscovered new logo as a result of a month of conceiving called as Belo in 2014 by CMO Their symbol was redesigned to resonate heart location pin and A in the Airbnb The design team wanted it to be simple so that anyone can easily draw representing people love place and Airbnb The company positioned themselves much bigger than just travel their organization will stand up for the community and foster human relationship by using technology for the purpose of bringing tribe together The company managed to hold great perseverance against all critics 

The team also gave a fresh painting and canvas to their website and apps which are much cleaner than the previous message with subtle animation and flashy images I feel Airbnb has successfully emerged from being a skeptical brand to a most visible storytelling brand who has reinvented their mission not just ambitious but historic Brand not so great JC Penny was considered as one of American largest mid range department stores Under CEO Ron Johnson in 2011 JC Penny tried changing their brand s mission and vision The company lost its core brand identity by adding companies within their stores and moved away from their target middle income American instead they swayed away to attract high earning customers One of the biggest mistakes was forgetting their brand strategy they replaced coupons with everyday low price and completely haunted their market along with the position of the company Getting rid of coupons took away their target customers feeling of emotional smart achievements Over the time due to a great mistake in brand management and marketing strategies it was not clear for customers why would they shop at JC Penny when they have a plethora of options from WalMart to TJ Max The management completely misread what their customer wants and neither they tested their vision in advance Like Airbnb the management should have asked their customers or did prior market research about their pricing strategy on a limited time basis While revamping the brand management should have analyzed their entire purpose of their business like Airbnb The organization discontinued the private band and made room for more national brands and tried to introduce a new service called 

Town Square within each store and all these initiatives alienated loyal customers because the customers could not align with new product and services The timing of brand renovation and strategy was bad as the economic conditions were not constructive and too many changes were implemented too quickly A company's brand need not be the first to be disruptive or transformative but must be a more novel way like Airbnb It is about timing product and target market like Airbnb attracted millennials and was an urban phenomenon Repositioning a brand is an enormous challenge and takes time and the success of the process is not guaranteed Like Airbnb JC Penny should have started with low expectation Johnson did not predict the size of the drop and investors lost patience when the results were weak Johnson s team did not test their new strategy did not give any importance to existing customers humiliated long term employee changed their entire top tier management team and had no compelling value proposition I predict his successor Mike Ulman will stabilize the brand learning from the mistakes of Johnson and the new strategy will take time

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