INDIVIDUAL REFLECTIVE ESSAY

Individual Reflective Essay

Executive summary

The brand is a very important asset for the company, it is necessary to have full know-how about it. In this regard, it is important to remember that a brand is a concept or idea that consumers have in their mind, but is owned by a company, and that branding is the process by which the brand is differentiated from the rest. Companies have to capitalize on this very notion of being differentiated which proves to be the key to successful branding and thus countering the market competition. According to our research, there are some key points that have to be considered in order to develop a successful brand strategy. When the sales and profits of a particular brand fall, some companies are well known to have successfully bounced back with their well-thought out policy to manage its decay in sales. For bouncing back to business, a company/brand has to increase business investment to dominate the market or strengthen their competitive position. Moreover, it is necessary to maintain the level of investment of the company until the uncertainties surrounding the industry are resolved. This is done by selectively reducing the level of business investment, discarding unprofitable customer groups, while strengthening investment in lucrative niches. On the other hand, John Lewis partnership, which has 69,000 Partners and is owning some of the leading UK retail businesses of Waitrose and John Lewis, as well as Greenbee phone and broadband and John Lewis Insurance services. It has proved itself to be a successful business powered by its people and its principles which defined their unique company today. The profits and benefits produced by the success of John Lewis are shared by all their associates and partners.

Elaboration and Justification

This is how John Lewis developed its strategy by extending into ...