|Methods and techniques|
Brand leader Is defined primarily as a product that is well recognized and well sold in a particular market segment. In definitions It can be also called as a market leader. Brand leader is a product with the higher number of total sales. A company can be also called as a brand leader - that has the largest market share, sells the largest quantity of a specific product in a particular industry or has the highest profitability margin. This can include also an organisation or a group name with the highest percentage of total sales revenue of a specific market.
Market leader is a dominant in influencing the customer confidence and loyality and also by pricing and well distribution. The most important thing in being a brand leader is not to have the biggest sales but to be a relevant product for customers (Definition of Market Leader 2019).
Examples of brand leaders
Brand leaders can be found in many kinds of industry. Good examples are (BusinessNews Publishing 2013):
a) In digital space:
- Microsoft company that was first in the market in launching operating system (Windows) and web browser (Internet Explorer)
- Apple - market leader in portable media devices in which music can be kept on a drive (Ipod)
b) In clothing industry:
- Adidas - the firm propose a new focus in participating in sport, they show that sport can be for everybody, not just for the chosen few
- Nike - the flagship stores of this company are NikeTown and Air Jordans
- Swatch - the company was established in 1983 and since than they have been selling watches around the world with a great success
How to build a leadership brand?
To build brand leader it is necessary to have leaders inside a firm, who will lead company to a success. Creating a successful brand can be divided into 6 main stages (Hesselbein F., Goldsmith M. 2013):
- Creating a need for leadership brand in a company
- Articulating a declaration of being a leader which consist a clear statement
- Assessing leaders contrary to standard of a leader brand
- Investing in leaders by training, on-the and off-the job
- Measuring the quality of leadership investment strategy
- Publishing the brand in the best way to encourage customers
Branding is not just about advertising or marketing. Today it also includes customer service, forms of packaging and what is the most important - innovativeness. Customer service requires enormous investment and well-prepared organizational structure (Top 25 Brand Leaders 2004). Because of many different factors which accompanies the whole processs, building a brand leadership can take even a few decades.
- BusinessNews Publishing (2013), Summary: Brand-Leadership: Review and Analysis, Primento, p. 4-6.
- Chief Executive (2004), Top 25 Brand Leaders
- David T., David N. (2010), The Brand Gym: A Practical Workout to Gain and Retain Brand Leadership, John Wiley & Sons.
- Hesselbein F., Goldsmith M. (2011), The Leader of the Future 2: Visions, Strategies, and Practices for the New Era, John Wiley & Sons.
- Scott B. (2003), A New Brand World: 8 Principles for Achieving Brand Leadership in the 21st Century, Penguin.
- The Economic Times (2019), Definition of Market Leader, Bennett, Coleman & Co.
Author: Agata Drabik