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Maximizing a Brand's Potential

Different ways to Improve Brand's Potential

Introduction to Maximizing a Brand's Potential

Brand is considered as an image that is associated with the product of company with the help of which they focus to gain competitive advantage within the marketplace. Further, brand identity is the term which is considered at the time when consumers hear about the brand regularly. It is essential for businesses to consistently promote their messages among target audience so that customers are able to remember the brand. In the current study, Virgin Media (VM) Plc. is undertaken which is a British organization and provides network services related to mobile, telephone, television and broadband to the businesses and consumers in the UK.

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Improve The Brand And Maximize Its Marketplace Potential

Concept of Brand

It is one of the complex dilemmas that is facing the media industry to market their products or services and thus overcome external competition. However, it is essential for marketers to develop marketing strategies for launching new product or brand in a way that attracts potential customers and thus, improves the brand image in the marketplace. Main issue faced by Virgin Media is that it is facing serious decline in the number of customers from several years. Therefore, it is essential for business entity to show significant growth in the viewers of Sky Sports channel by showing proper sports channel in HD and thus develop awareness among target prospects. In order to build the brand potential, it is essential for Virgin Media to consider sports TV channels among sports premium prospects in order to increase the opportunity for acquisition. Company is required to identify the needs of target audience and thus, maximize brand potential so that awareness among customers can be enhanced. Hence, it is significant for company to re-build its brand image by showing appropriate sports TV channels demanded by target audience and thus, it can improve the brand identify in the market.

Improving brand identity

Virgin Media brand can be improved through substantial consideration of sports TV channels among sports premium customers and thus, it is essential for company to enhance their brand image in order to gain the opportunity to acquire the market. Hence, it possesses high market potential in regard to increase the brand identity and thus, improve the customer base. Company's marketing team has carried out potential research in relation to focusing upon the Sky customers as they have shown their willingness to watch the sports program mainly football matches in HD clarity. Main target audience for VM is Sky Premiums as they are mainly football fans and thus, desire to watch the matches. It involves status seekers who fall in segment 1. Therefore, VM is required to provide them the best services so that they can be attracted and retained for long term within business. Company is required to create awareness among customers in regard to purchase the services and thus, develop budget in order to watch their TV channels. Thus, it maximizes the brand potential and suggest firm to improve socio-cultural environment so that brand identity can be maximized to achieve desired results.

Maximizing marketplace potential

Virgin Media aims to maximize its marketplace potential in the coming 12 years and thus, it is focusing to improve the brand image so that sales can be enhanced in an effective manner. Also, it is essential for the sports marketing team of VM to identify the potential prospects in relation to their Sky Premiums consumers and thus, provide the best of services in order to retain them for long term. However, from long time, firm is facing serious decline in their market share and thus, it is essential to develop awareness and focus upon Sky customers as they have shown great potential and willingness to purchase connection from Virgin Media. Main target market of firm is high class people who are keen to watch football matches and thus, it is essential for firm to provide them better quality of HD channels so that value can be created to achieve results. Company is required to undertake operational excellence so that they can focus on increasing market value and thus, it provides benefits to the firm that results in enhancing brand image in the market and helps in gaining leading market position. VM plans to believe that it is essential for them to combine all the sports media channels at one place i.e. Sky Sports 1, 2, 3, 4, 5. F1 and News HQ. Also, as per the customer’s convenience, company plans to provide all the channels in HD and thus, it will go through Sky Sports application.

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Furthermore, Sky Sports customers are highly encouraged by the depth of sports channels as company offers HD channels on which customers can enjoy football matches. Thus, it helps them to gain value for their money and in the football season of August/September, VM provides full HD clarity to its customers in order to enhance their satisfaction. Similarly, company also provides convenience by providing TV channels subscription on customer's mobile phone so that they can access anywhere through internet. Through providing the best Sky Sports channel, it encourages to enhance customer’s number and thus, improves awareness among customers by offering them better quality channels.

It is essential for Virgin Media to develop effective brand identity so that it can be identified by customers and thus formulate high brand awareness among customers. Further, it is essential for enterprise to have effective logos, colors, design etc., so that branding can be done which helps customers to distinguish them with other TV channels. However, if company does not possess such designs and concepts then it will have no value and it will also negatively affect the popularity of firm in the marketplace. Also, in regard to maximize the firm's potential in the market, it is essential for them to develop effective brand image so that target prospects can be attracted. Moreover, value proposition refers to the value that company wants to deliver to its customers. It involves product or service that aids in adding value to the consumers so that client’s need of Sky Sports channel can be fulfilled.

Moreover, positioning strategy needs to be implemented by firm that helps them to create value in the minds of customers so that they can identify the brand whenever required. It assists firm to create distinct identity in the market and thus, maximize its potential which helps them to attract people across the globe. Therefore, it is essential for Virgin Media to promote its Sky Sports channel among target prospects so that sales and profitability of firm can be enhanced. It also helps business to improve the client base by providing them HD channels and thus, develop brand identity to achieve desired targets.

Also, business is required to evaluate the needs of customers so that brand identity can be created to achieve desired targets. VM is required to build marketing strategies so that brand image of Sports channels can be developed and thus, they can gain attention of target people to attract them towards business. This in turn enhances the market share and profitability. Hence, Sky Sports provides the best sports channel for its customers so that they can enjoy football matches with their family or friends. Also, Virgin Media creates awareness among consumers regarding the sports channel so that it can be used within multiple devices at the home. Company provides services as per the target segment so that premium customers are provided with the best quality products and services.

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Furthermore, it can be assessed that Sky Sports customers and prospects are highly encouraged by Virgin Media Company to provide sport offering to them in order to view HD channels and thus, attain desired results. Also, new joiners who are subscribing sports TV channel can shift to VM TV as part of value for money and thus enhance the sales of company in marketplace. Thus, with the help of this, it assists business to provide the best football season matches so that it creates high TRP of channel through the year. Therefore, it is essential for business to improve its customer base through providing HD sports channels and thus, it can satisfy the needs of individuals. It helps them to enhance the number of clients and segment the clients on the basis of premium class. By segmentation, it provides them specific products which satisfy their needs.

Conclusion

It can be examined from the study that implementing positioning strategy helps Virgin Media to maximize brand identity in the market and thus, attain success. Also, it is essential for firm to overcome the barriers and identify the needs of target audience so that VM can gain competitive edge over rivals. VM consideration for sports TV channels within sports premium customers and thus, increases the opportunity to acquire customer attention. Satisfying the target audience needs i.e. football fans and providing them with HD channels to meet their requirements help Virgin Media to improve its brand image and maximize its marketplace potential.

References

  • Aaker, D. A., 2012.Building strong brands. Simon and Schuster.
  • Brasel, S. A., 2012. How focused identities can help brands navigate a changing media landscape.Business Horizons.
  • Fulgoni, G. and Lipsman, A., 2014. Numbers, please: Digital game changers: How social media will help usher in the era of mobile and multi-platform campaign-effectiveness measurement.Journal of Advertising Research.
  • Huertas, A. and Marine-Roig, E., 2016. User reactions to destination brand contents in social media.Information Technology & Tourism.
  • Hwang, J. and Han, H., 2014. Examining strategies for maximizing and utilizing brand prestige in the luxury cruise industry.Tourism Management.
 

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