Guest Talk on 'Branding on a Budget: How to Develop a Cost-effective Branding Strategy'
Competition in a business environment is generally considered to be between brands in the same product or service category. The public is aware of the intense competition between brands in different markets such as cola (Coke vs. Pepsi), mobile services (Jio vs. Airtel vs Vodafone), and automobiles (Honda vs. Toyota vs. Hyundai). The competition, however, goes beyond the brands in the same category. In fact, companies or brands from different categories compete, for example, for different markets, resources, customers, and channels.
Business managers should not take a myopic view of competition being restricted to brands in a single domain. We will discuss the different bases of competition and illustrate how brands can successfully compete at different levels of competition.