The market which we live in today is very competitive and single product or service is being sold by many strong brand names and company. In this horizontal market becoming a tycoon or a major brand has become very difficult and if you achieve that then you are surely the best.
This is an era of horizontal market, where merely your product or service won’t guarantee your success, rather your strategy in terms of marketing, persuasion and most importantly advertising will also play a vital role. Decisions cannot be taken by a single person rather a squad of persons who are experts in their respective fields will be required by you to make and implement all these strategies.
In this competitive and fast market, you cannot just launch your brand name solely on the basis of your name in the market, even if you are a big name like Marcus Hiles, you have to work really hard to make things happen for yourself. We are not saying that having a big brand name doesn’t have an impact on audience, it surely has an impact but even if you are a top company like western rim property, you can ignore the importance of other facets such as research, marketing, advertising and other disciplines.
If we study the history of brands and company names, we will see that many successful companies got bankrupted or suffered major losses because they made mistakes which they thought wont give any serious damage to them due to their big brand name. The world has become global village now, and on the internet you will find thousands of case studies and researches purely on the topic how a particular company suffered loss and how it lost its brand loyalty in the market and also in the hearts of customers.