Branding 'essential' for businesses
Thursday 22 October 2009
Companies have been advised to concentrate on the branding of their firm and products in order to emulate the successes of technology giant Apple, which has recently revealed figures showing its most profitable quarter ever.
This is according to Steven Cheliotis, director and chief executive of The Centre for Brand Analysis, who observed that brands offer organisations a "major competitive advantage" in an industry where "service is quick and product innovation is very swift".
Commenting on Apple's achievement - it has announced a net quarterly profit of $1.67 billion (£1.01 billion) - Mr Cheliotis remarked that the corporation has a good brand that people want.
He went on to say that by establishing a solid public image, enterprises will improve their product sales, as well as offering them at a higher premium.
Mr Cheliotis confirmed that "once again … a strong, well-regarded brand is the greatest differentiation between poor business and successful business."
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