The author and his four colleagues have decided to build up an upscale fast food business in London, offering a barely existing product in the UK - the german ‘wurst’, prepared in many different ways and styles. The business will be set up as a limited company and the marketing as well as the promotion will be operated mainly via internet, especially websites and social media. In order to attain our objective, becoming a successful new German fast food restaurant in London, branding as well as choosing the location is an essential component for the business plan and the customer loyalty in the future.
For that reason it is the aim of this report to clarify this matter by defining what do the terms brand and branding actually mean, why they are so important, what are the key parts in building a strong brand and how the location is determined.
The theory, researched with current literature, will be applied to Burning Sausage, the new venture.
2 Branding - The Way To Success
“Unless you have absolute clarity of what your brand stands for, everything else is irrelevant“
- Mark Bynes, Kellogg Co.
2.1 What is a brand?
From a purely legal point of view, a brand is a trademark, a name, a sign or a symbol, which labels the products to express their uniqueness. (Esch, 2014)
One of the most common definitions of a brand is that it is something of ‘value’ for the customer as well as the company. (Crane, 2010) It can be applied to a person, for example David Beckham, a country, a business, like Coca-Cola, Apple and Microsoft, or even to an idea (George Bush and his ‘War on Terror’). (Davis, 2009)
But a brand is much more than a venture or a logo, it is the full ‘personality’ of a company, the sum total of all percepti...
... middle of paper ...
Schultens, A. 2013. Planet Wissen - London. [online] Available at: http://www.planet-wissen.de/laender_leute/grossbritannien/london/ [Accessed: 16 Mar 2014].
Smithers, R. 2009. Recession is biting into Londoners' eating habits. [online] Available at: http://www.theguardian.com/uk/2009/sep/08/london-dining-out-zagat-guide [Accessed: 16 Mar 2014].
Unternehmer. 2010. [online] Available at: http://www.unternehmer.de/marketing-vertrieb/91151-markenbildung-geben-sie-ihrem-produkt-eine-starke-personlichkeit [Accessed: 16 Mar 2014].
Vatter, C. 2012. Warum Markenbildung gerade für junge Unternehmen wichtig ist. [online] Available at: http://www.gruenderszene.de/marketing/markenbildung [Accessed: 16 Mar 2014].
Wilson, J. 2013. Why is branding important?. [online] Available at: http://www.strategynewmedia.com/why-is-branding-important [Accessed: 16 Mar 2014].
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