Speech - Business and Economy Essay Example | Topics and Well Written Essays - 500 words

Speech - Business and Economy - Essay Example Larger companies with established brands could use outsourced products rather than manufacturing them and could sell the products with the help of advertising and branding efforts. Companies that create more brands offer more values to the customers. Next, let us turn our attention to branding. Branding is a process of value creation among the various stakeholders groups. It helps an organisation to keep its employees motivated and associated, it helps vendors and partners to create a positive image and establish relationship and most importantly it helps to create a positive image among the target consumer groups in order to motivate them for their purchasing and repeat purchasing decisions. It has affected the economies in various ways. The small companies and manufacturers are largely impacted by the branding efforts of large companies. The purchase decisions of consumers are largely impacted by branding. Companies take their branding decisions very seriously as any wrong decision may kill the brand. Many a time when any crisis comes many prestigious companies have adopted different strategies to maintain their brand name. For instance, Johnson and Johnson responded to depreciation in its product-tampering crisis by recalling and replacing its products, which turns around the situation.