Many 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.
Answer preview
This will help in maintaining the brand’s good name and attracting new customers.
For the Microsoft brand, the internet has brought about the demand for developing new and improving the previous software creating a bigger market for the brand’s services. Due to the high rate of growth in internet usage, more computer software is needed to enable end-users to grow. I would advise the management of Microsoft to increase innovation in developing software to grasp a large share growing market and maintain the brand’s reputation. The management also needs to increase brand awareness through advertising its products and offering good customer services.
