When we mention “BRAND”, the names that come to our minds would be like Apple, IBM, Infosys, Tata, Addidas, Nike, BOSE, GUCCI, PRADA, and the likes of these. They are brands because they have created a unique name for themselves in their respective segments. When we say “Branding” it means creating an impression, an impression that lasts positively on the mind of the consumer.
The important ingredients of creating this impression would be an all-encompassing collection of business principles, business strategy, sales, customer relations, appearance, attitude, products, services, advertising, copywriting, Web site design, brochures… your entire company. It’s a mix of both science and art. Creativity strengthens and enlivens brand. But the science of branding is equally important. One such brand that attracted me is Walt Disney Company. Since childhood I have admired the characters, movies, merchandise, and parks this company has created.
Every brand has a story to tell. Some are inspirational while others are tragic. In so many ways, building a brand is like telling a great story. At the heart of both crafts is the power to evoke emotions from the audience. Great storytellers can make you cry while branding experts can make you buy. Since its founding in 1923, The Walt Disney Company and its affiliated companies have remained faithful to their commitment to produce unparalleled entertainment experiences based on the rich legacy of quality creative content and exceptional storytelling.
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with four business segments: media networks, parks and resorts, studio entertainment and consumer products. The Disney Company has done a masterful job of creating a brand that blends art and science. Careful market research, focus groups, maximizing brand exposure, continual education and advanced technologies are all part of Disney’s brand science.
Not even the magic of Disney is immune from recessionary pressures-but Disney’s clouds do have silver linings. Although tighter ad budgets have put pressure on Disney owned networks, magazines, and Disney. com, the company continues to successfully leverage its brand in innovative new formats online and offline. Disney’s ability to create appealing promotions has kept the flow of visitors steady from last year, despite tighter wallets threatening traffic at theme parks.
Meanwhile, the Disney and Pixar brands continue to command audiences, as evidenced by the success of Up, and a strong content pipeline, including Toy Story 3, which speaks to a promising future. While the brand has come a long way from Disney’s early struggle to turn a simple mouse into a star, it’s hard to deny that it still captures people’s imaginations and hearts with its appeal to the kid in everyone. Disney himself supposedly once said: “I hope that we don’t lose sight of one thing – that it was all started by a mouse. I would close my synopsis here and for the detailed report I would like to go down the history of this brand and look at the various brand and product management aspects the company has been focusing on since its inception. The topics that I would cover would be as mentioned below, 1. Introduction to Product and Brand Management. Its importance. 2. Introduction to Walt Disney Company. A brief history of the company. 3. Branding Strategy 4. Product Strategy 5. Pricing Strategy 6. Conclusion 7. Appendixes