For this episode of the NerdBrand Podcast, our first of five episodes is about Samsung. Samsung is one of the top 5 most valuable brands in the world for 2020.
What do you think of when you hear their name? Phones? Appliances? TVs?
Samsung is a South Korean multinational conglomerate headquartered in Samsung Town, Seoul. Samsung means means “three stars” in English.
One of the biggest smartphone players in the world has the highest global smartphone market share of nearly 21%.
What is Brand Value?
Brand Value is the economic value of a Brand. It’s based on market performance, and it’s the ability to earn.
Crisis management for your Brand
The biggest crisis Samsung faced was in 2016. After the launch of Galaxy Note 7, some of the handsets started catching fire due to issues in the battery of the device. The bold move to recall was made, and in spite of the risk to ruin the brand’s trust, it earned trust.
Positioning of the Brand
Samsung has adopted a different strategy compared to Apple. Samsung offers a range of phones for a different range of prices. It has to lead to Samsung across the globe to become successful.
There are 3 pillars to Brand Value
1) The Brands Financial Strength
The financial return to an organization’s investors, or its profit, is a factor in a brand’s value. This is the “after-tax” profit of the brand. Not including any capital used to invest in it.
2) A Brand’s Role in purchase decisions of consumers
Purchase decisions based on the brand as opposed to price structure, convenience, or product features. Comparing brands in the same industry, or doing a study among experts can weigh in on this.
3) Brand Equity (or Strength)
How loyal are the people that buy your brand’s products or services? This is Brand Equity. Therefore, sustainable demand and profit for the future of the brand effects the Brands Value.
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