Research On BM's Own Brand Building Strategy

With the promotion of economic growth and the reform & opening up policy,China’s small and medium size enterprises(SMEs)have made rapid development with the dual support from domestic policy and market opportunities.SMEs have gradually played an important role in China’s economic development and social progress.However,In the view of global industrial distribution of labor,Most of the China’s SMEs have been only involved in the preliminary production procedures of processing,assembling,and most of them are still located at the bottom position of "Smile Curve" in the cycle of product’s design and development.Today,Great changes have occurred in the international environment,Which also means a great challenge to further development of China’s SMEs.Therefore,It has become an extremely urgent issue that China’s SMEs should strive for transformation and upgrading to get rid of the lowest position in the "Smile Curve".The question of how China’s SMEs should change the current role of just being contract manufacturers and how they can achieve sustainable and steady development,has long been a major concern of the society and consumers.Nowadays,more and more China’s SMEs have started their own brand building,but still there is a wide gap in terms of brand marketing,brand protection and brand influence when compared with big companies.As a typical small kitchen appliance manufacturer,BM Company has gained over 20 years’ experience in the industry,which can act as a foundation for BM Company’s own brand building.Nevertheless,with the rise and fast development of China’s domestic kitchen appliance market,many international brands and new Chinese domestic brands have entered into this market,which makes an even more fierce competition for BM Company.Therefore,BM Company has to build up a strong brand as soon as possible in order to enhance the competitiveness of itself.This paper focuses on the brand building of BM Company.First of all,it reviews the relevant theories of brand building and provides a theoretical basis for the research & analysis.Secondly,this paper expounds the overview of BM Company and the industry of electronic kettle,It also employs the PEST analysis method and Michael Porter’s Five Forces model to introduce the macro and micro environment for BM company,with the purpose of getting a clearer and more detailed picture of the environment,situation and trends for brand building in electric kettle industry.Afterwards,By conducitng a questionnaire survey and analysis,it summarizes the existing problems and the root of those problems in BM Company’s brand building.Then,By means of interactive interview and conversation recording,this paper concludes and put forth suggestions and strategies for improvement which are suitable for BM Company’s brand building.Through conducting a research on BM Company’s own brand building,this paper aims to provide a reference and an example for other kitchen appliance manufacturers or any similar SMEs to do their own brand building.