One of the commonly disregarded or overlooked aspects of competitive advantage is the brand. Branding should not be viewed as just advertising, the worth, which it holds for the esteemed customers of the company, must be considered. It takes time and it is expensive to build value for the company through branding, but it is fragile and easy to destroy. Disney, coca cola, and apple are among companies, which have been acknowledged throughout the world as a respected brand. It is arguable that the three brands mentioned above will remain a source of advantage in the 21st century (White papers, n.d). This is because they are keen and innovative when it comes to branding those companies.
The internet a spot of global communication, allowing businesses to interact with their consumers, has turned to be working against the same companies. Many customers use online reviews and comments about the company before making a purchase. Being world's largest brands, these three companies are experiencing negative publications that are hurting their reputation. Unhappy customers who might have had an awful experience with the company's product can easily destroy the name of the company. Unhappy employees of the company can catalyze or promote the process of destroying the image of organization's brand (White papers, n.d). To be capable of solving the online situation, these companies need to keep constant check on their online reputation management. Solving the company’s weaknesses is a means of countering online negativity on the company.
The company can strengthen its weaknesses to help it positively impact on its competitiveness. The company owners should understand that occasional negative reviews and unhappy consumers are only natural. However, there is a necessity to check properly on the company's online reputation through proper means of online reputation management (White papers, n.d). These companies also need to close the communication gap with their customers, through constant interactions such as in social media forum. It is significant to acknowledge that the company's reputation is the only asset that keeps the company going forward.
References
Seen and Heard - White Papers. (n.d.). Brand IS a competitive advantage. Retrieved October 22, 2014, from http://www.cbc-group.net/papers/brand.php
