revitalizing_a_brand

Revitalizing a Brand: Plaza Home Health Services

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Revitalizing A Brand: Plaza Home Health Services

Co-owners: Nancy Edwards and Jennifer Moore

The brand’s co-owners have established different efforts targeted at improving the status and stature of their brand by making changes to the brand image and consumer recognition. Nancy and Jennifer capitalized on an opportunity on demand for home health services. The company has witnessed numerous successes in its first year of operation. In fact, Plaza Home Health Services is the leading company in providing home health services in Georgetown even after stiff competition from other established and competitive companies. Their success can be attributed to the commitment established when delivering excellent services in a comprehensive way that eclipses what other competitors offer. In order to offer top quality services, Nancy and Jennifer (the two entrepreneurs) hired the most capable employees, which resulted to a competitive advantage. The company seeks for more and better methods that can enable them cement their market position through economic control and constructing a recognizable brand that offers the best quality home health services.

Current Marketing Communication, Identity, and Brand Position

The company is trying to work on its communication channels by analyzing how to remake and restructure their poorly designed logo. The current state of the logo led to production of uninspiring and displeasing promotional brochures, business cards, and building signage. The state of the logo has caused many questions such as the validity, importance, and motivation of the company logo. The logo contains the words “Plaza Home Health Services” in italics. This makes all elements that deal with the company “amateurish,” a factor the company can change as it has undergone numerous successes over its first operational year.

The company has not been innovative on their market communication. As such, their communication is ineffective as it only displays the services offered. In addition, Plaza Home Health services have not attempted branding. This is clear as the company has shown no clear labeling efforts. In fact, the company uses undeveloped labeling efforts, which shows the company used no effort, energy or creativity in creating an exclusive trademark.

However, Nancy and Jennifer acknowledge that change is needed to the current image of the company associated brand attributes. The two indicate that their company name is satisfying and that no change is needed there. In addition, this would cause great confusion among the loyal customers who are accustomed to the name Plaza Home Health Services. However, the components of the logo such as the symbols, text, and colors to use have to change for its own good.

SWOT ANALYSIS

Strengths

Plaza Home Health Services entered the market at probable the best time, which is evident due to the company’s successful first operational year. This helped the company establish the brand name and showcase their services.

The company has a strong competitive advantage when it comes to recruiting because of its strong compensation as well as benefits package.

The company ensures excellent patient care delivery by setting strict protocols to be the basis of their operations. This establishes the company as a high standard company that offers professional services.

Weaknesses

The state of the company logo remains a great concern to the founders as it still needs restructuring in order to reflect and show the quality company that Plaza Home Services is.

Apart from having to remake or improve the logo, it had to present and advertise the services of the company in terms of quality and class.

The company also has poor visibility in the marketplace as a result of poor advertisement.

Lack of investors to collaborate with and do business together. These are important as they assist in spreading the company’s name and services in most limited places.

Opportunities

Plaza Home Health Services company has already established itself in the market as the leading services providers in Georgetown.

The company can take advantage of this in developing even a bigger and broader customer base. This is possible by establishing advertising promotions, as such means sometimes mean the difference between the leading companies and their competitors.

The company can use its established brand name to get more funding, which can be put to more use such as new machinery, equipment, or even start spreading the company’s sub-branches to other places and towns.

Threats

The company might lose some recognition because of re-branding. This is because customers may think that it is a different company, which might result in trying to seek services elsewhere. In such conditions, the company would have to be very fast in implementing its strategies that assure their loyal customers as well as attract new ones.

Any inconvenience or confusion caused by rebranding the company’s logo and operations might open new possibilities and chances for competitors to take advantage of. Therefore, the company has to prepare for the worst in their pursuit of the best.

Importance of Benchmarking

Most companies employ the use of benchmarking to assist in raising the company’s competitiveness abilities (Fifer, 1989). Analyzing the strong points and areas of other companies assists in knowing how to deal with such situations as well as how to do better what others are failing. Benchmarking also helps companies provide better services to customers than those of competitors. In addition, benchmarking enables a company to eliminate its weakness and explore new ways that assists in capitalizing on the threats.

Comparing Branding and Communication Strategies with another Company

Standards Home Health provides services similar to Plaza Home Health Services. However, there are certain differences in communication and branding strategies. For instance, Standards Home Health Company makes good use of marketing tools like brochures, websites, and social media. These and other means of advertising assists the company in making big progress in establishing its market share (Camp, 1989).

Conclusion

Plaza Home Health Services co-owners, Nancy and Jennifer has done a great job in establishing their brand in what is a very tough home health sector competitive market. Apart from this great work, the two have noticed that it would be best for them to expand their businesses as well as increase their stronghold. Improving the status and stature of the company involves upgrading the brand image, as well as bolstering corporate identity as well as customer recognition. These actions show the optimism of the cofounders as it is a look into the future of the business. This is possible by revisiting the decisions they made hastily upon noticing the opportunity to start their firm. For this to happen, great decisions have to made, expenses have be incurred, and risks are going to be taken. All these factors have to go in line with utilizing branding opportunities in order to establish major presence in the market. In addition, this would bring more recognition to the company, which consequently creates a stronger and larger customer base.

References

Camp, R. (1989). The Search for Industry Best Practices that Lead to Superior performance. Productivity Press.

Fifer, R. (1989). Cost benchmarking Functions in the Value Chain Strategy & Leadership, 17 (3) 18-19