Building a Global Brand Essay
OSIM is a multinational company that markets, distributes and franchises a comprehensive range of healthy lifestyle products, which cover four key areas such as health, fitness, hygiene and nutrition. The objective of OSIM is to cultivate in consumer a positive outlook toward life and healthy living through the shopping experience. Brand identity is how the company wants the consumer to perceive their product or their brand. The brand identity of OSIM is a combination of the founder’s last name, Sim and the letter “O”, which represented the company’s aim to be a global leader in healthy lifestyle.
The OSIM brand names was selected due to its being pleasant sounding, easy for consumer to remember and pronounce and also to create a positive recall among consumers. The corporate brand name OSIM was used as its umbrella brand identity. Its allow the company to extend this brand to specific products such as the OSIM Millennium, a massage chair, and the OSIM Mermaid vacuum cleaner. OSIM marketing strategies are focusing on wide geographic market coverage and a comprehensive point of sales network.
OSIM has used concept shops as a point of leverage on its brand value. In these concept shops, OSIM has focused on two key features which is ambiance and shopping experience. Using this concept, it will make OSIM consumer feel more secure and have a comfortable experience in the store. The branding strategy reflects the nature of new and existing brands element to be applied to new and existing products. As a multinational company, OSIM branding strategies are to extend their brand to specific products and also introduce a new product.
In order to achieve their strategy, OSIM has introduced a new corporate logo, advertising taglines to keep the customer informed of their new products and also engaged several popular celebrities to endorse their products and the concept of healthy living. Besides that, OSIM also involve in corporate sponsorship for charity events in Singapore. The brand extensions implemented by OSIM is a wise movement and also advantage to the brand product as well as the company names.
The advantages from the OSIM brand extension are that they can facilitate new product acceptance, reduce risk to convince the retailers about their new products, reduce the cost of launch and it helps to renew the interest of the consumer about the products and automatically will helps OSIM to extend their sales outlets and also their market coverage all over the world. In order to inform and communicate with the consumer about the new products, OSIM has created and build a new brand identity of the company. They have introduced new and enhanced a corporate logo of OSIM.
The new logo features arcs in three colours which are blue for the sky, green for the land and orange for light and spirit. The new logo showed to the consumer that OSIM ready to enter the new millennium and embodied the company aspiration to become a leading global brand. Besides that, they also have advertised their own taglines in the advertising campaign such as “Health is an attitude to life” and “Good health begins with care”. These taglines will encourage the consumer about the importance of healthy living and also will let the customers know about their new products.
Besides that, OSIM has engaged several popular celebrities to endorse their products and at the same time it can influence consumers to use their products. OSIM also has involved in other activities such as corporate sponsorship for charity events, raised funds for and support other organization activity. To make the consumer more confident before purchasing their products, OSIM will ensured that their staff have sufficiently knowledgeable about the products, pleasant approachable and good in communication skills which can influence consumer to experience their products.
The branding process that introduced by OSIM is good because it helps the company to express to the customers and the target markets the kind of organization it is. Besides that, it is the total promise that OSIM make to customers. In achieving the company’s long term objective which is to build a global brand and extend their market coverage to more places, there are three ways that OSIM can be implemented such as : a)Improve the quality of the product OSIM can improve their brand image by producing or giving their consumer with high quality product. By having a quality brand, the company can ensure that they have edge over the competitors.
Besides that, they also have a potential of charging a higher price which would lead to a greater profit margin. b)Improve the location and placing Location is a very important factor when trying to set up and improve upon a brand image. The consumer will prefer to find the new product which easier to get and to contact. As a multinational company, they need to be in the right place to appeal their target audience. c)Product promotion Promotion is the best medium that can help in improving their brand image greatly. By promotion, it can influence the consumer to buy the product and also will make people believe about their company.