Please respond to the following:
- 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.
- 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.
PART A – PLEASE RESPOND TO CLASSMATE DISCUSSION WHETHER YOU AGREE OR NOT & A DETAILED WHY:
1- I would say Facebook is a big brand that has been able to make it through as technology has changed. I think as social media continues to be on the rise consumers will continue to use Facebook and the other products they offer such as Instagram and messenger and Whatsapp. As the globally technology continues to grow I think these products will continue to adapt and get better and more creative over time. Internet has a huge effect on these products because you need to have internet to use all of them. Facebook is rated #5 in Forbes 2019 Best brands.
2- American Express is another huge brand. Named 27 by Forbes 2019 best brands. American Express offers many benefits especially points, product protection and impeccable service. We use them almost every time we travel. There is also a sense of security when making a purchase with American Express that will give you purchase protection.
3- McDonalds is also a huge brand. People across the globe know and know what to expect from it. They are rated #10 in Forbes best brands 2019. McDonalds continues to grow and offer low cost fast food across the globe. They are a brand and people know the golden arches. The internet has certainly boosted their familiarity but I do think as a brick and mortar they will continue to grow at a rapid pace.
Part B – PLEASE RESPOND TO CLASSMATE DISCUSSION WHETHER YOU AGREE OR NOT & A DETAILED WHY: Lockheed Martin Corporation – is an American global aerospace, defense, security and advanced technologies company with worldwide interests. Lockheed Martin is one of the largest companies in the aerospace, defense, security, and technologies industry. It is the world’s largest defense contractor based on revenue for fiscal year 2014. LMC has strong backing by the US government as 85% revenue comes from US government contracts and operates in an oligopolistic environment. The rising defense needs for countries from terrorist threats and modernization of defense ambitions in all countries will continuously lead to increase in demand in the future.
Square, Inc. provides payment and point-of-sale solutions in the United States and internationally. The company’s commerce ecosystem includes point-of-sale software and hardware that offers sellers to payment and point-of-sale solutions. It provides hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts Europay, MasterCard, and Visa (EMV) chip cards and Near Field Communication payments . Square’s core business is aimed at disrupting the traditional POS (point of sale) systems market. Its first product, Square Reader, was a dongle that let users process credit card payments on smartphones. The Square Stand then converted iPads into complete point-of-sale systems, while the Square Register developed that design into a stand-alone POS system. Square’s solutions are cheaper than traditional POS systems, and they deliver data to the cloud, which helps vendors analyze their purchases and business trends.
Asurion is one of the largest and fastest growing subscriber-based businesses in the world, that provides insurance for smartphones, tablets, consumer electronics, appliances, satellite receivers and jewelry. Asurion has expanded to provide its award-winning services to over 150 million wireless customers, with over 17 thousand employees in 21 countries around the world. Co-founded in 1995 by current Chairman, Kevin Taweel and fellow Stanford GSB alumnus Jim Ellis, Asurion began by selling roadside assistance through wireless carrier channels. Expanding to offer insurance for mobile phones in 1999, retail service contracts in 2008, and technical support in 2011, Asurion has become the global leader in technology solutions services and device protection.
Using today’s internet capabilities, I believe that global brands have the power of increasing their brand recognition multiple times more than other brands as people will be more attracted to see or get engaged with global brands than with other brands. Because I am involved professionally with two of the three above companies, I think that Square brand needs to customize its offerings for types of small businesses. For example, we use Square as a cell phone repair store, but we also have to use another software which is tailored to meet certain specifics our type of business has. I would have loved to have only Square and do everything that I am doing in two different platforms.