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AN ANALYSIS OF THE ROLE OF BRANDING STRATEGY(dissertation)

Extracts from this document...

Introduction

AN ANALYSIS OF THE ROLE OF BRANDING STRATEGY FOR A SERVICE COMPANY TO SUCCESSFULLY ENTER THE UK RECRUITMENT MARKET Submitted By Adam Zoe PGDBM Submitted To Dr Adwin Parera May 30, 2011 Chapter 1 Introduction 1.1. Research Background The image of the brand which is the most visible element of the service on offer is the central factor in positioning the service in the various markets (Doole and Lowe, 2008). Branding plays an important role in the efficiency of organisations when communicated effectively to customers. Branding is crucial to operational effectiveness as well as raising of the potential performance of the company, particularly when entering a new market. The literature review on branding includes multiple components of branding as brand identity and brand image. The work of Franzen and Moriarty (2009) defines brand identity as the physical identification cues used to make a brand distinct and recognizable in the marketplace. In addition their work refers to definition of brand image as the generalized perception of a brand in people's minds (2009). Further detailed literature review on branding and market entry strategies will be delivered in the dissertaiton. 1.2. An Overview of the Industry The UK Recruitment industry accounts for revenue of �27,006 billion, with a 1.3 % increase on �26,673 billion in the year 2007 (The REC, 2009; see Appendix 3). The recruitment industry covers a considerable part of the UK economy and contributes to 4% of the UK's GDP. The sector indicated the fourth year steady growth after deadline in 2005. The industry statistics covers placement of around 726,280 people in permanent jobs each year and over 1.2 million people at temporary jobs per week (The REC, 2009). The industry is mainly made up of small businesses, segments many sectors of businesses, ranging from executive, media, marketing, hospitality, medical, education, IT/Technology as well as construction, engineering, energy, oil and gas and some other niche markets. ...read more.

Middle

This chapter proceeded to consider the literature relating to the market entry modes that can be obtained by Bolashak to enter the UK recruitment market. The literature review suggests that the best mode to obtain to enter the mature foreign market for Bolashak is the direct investment which provides full control over the investment and serves its long-term international objectives (Kotler et al, 2008). Chapter 3 Research Methodology 3.1. Introduction This chapter covers a proposed research design and methodology to undertake current research. The aim of the research is to analyse branding and market entry strategies that can be successfully obtained by an international company to enter the UK recruitment market. The current paper provides the background to goals and objectives of the research in connection with relevant literature review and the methodology to conduct the research. The chapter starts by giving background research on branding and market entry strategies followed by an overview of the UK recruitment industry. Thereupon an overview of Bolashak LLP is given followed by the justification for study. Research methodology will detail how the researcher intends to achieve research objectives. In literature, researchers emphasise that data collection techniques and analysis procedures are central to the research methodology; however Saunders et al (2009) argue that there are important philosophies and approaches to be understood before studying techniques and procedures. 3.2. Research Philosophy Research philosophy relates to the "development of knowledge and the nature of that knowledge" (Saunders et al, 2009). It precisely how the researcher will develop knowledge in a chosen field. The work of Johnson and Clark, 2006 (see Saunders et al, 2009) states that it is not important that the research should be philosophically informed , but it is how well the researcher will be able to defend the philosophical choice in relation to the alternatives that would have been adopted. There are four main philosophical approaches that can be adopted to undertake the research according to the research methodology literature. These are Positivism, Realism, Interpretivism and Pragmatism. ...read more.

Conclusion

A large amount of participants (85%) strongly agreed and somewhat agreed with the given statement to investigate this matter. In order to exceed their expectations, Bolashak will probably need to build and develop confidence and trust in the brand with a long term view. However, as Elliot and Percy (2007) suggest customers need repeated experiences with the brand to build beliefs. Therefore consistency is an important element to consider when building a brand in a foreign country. It can be achieved through continuous planning and reviewing of services schedule. Although the UK recruitment market is considered to be "red ocean" where industry boundaries are defined and accepted, and the competitive rules of the game are known (Kim and Mauborgne, 2005), there are opportunities for Bolashak to create and deliver its brand promise in a highly competitive but perspective environment through expanding its business to the UK. Finally, as Keller (2008) states, companies need to manage brand effectively over geographic boundaries by creating positive brand image in each market in which the brand operates. Therefore, it is recommended that Bolashak manage its brand through creating emotional bond with its UK customers (Elliott and Percy, 2007) and modifying the brand program as needed to meet expectations of foreign customers which will eventually lead to creating trust between them. 5.3. Limitations of the Research The biggest constraints in this dissertation were considered to be the time and the limited word count. To overcome the time constraints the researcher has worked in compliance with initially proposed timetable. Other limitation could also be described as the lack of a representative sample. The sample which contained 52 respondents was large enough for analysis purposes. However, as accurate total figures were not available for all 65 members of the sample population, it is not known how representative the sample is. Another reason is due to the time constraints this research concentrated on the registered applicants of the company only. Therefore, more research should be done on the subject area to make concrete and generalised conclusions. ...read more.

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