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1. Benefits of a global Whirlpool brand
1.1 Differentiation from other competitors and price premium
According to James R. Gregory and Jack G. Wiechmann (2001, p. 7), a global brand’s personality and style, along with its reputation for quality performance, could help the customers of the company differentiate the company product from those of the competitors and encourage customer loyalty in the process. Such a relationship is pivotal to a successful globalization effort. As in the case of Whirlpool, a global brand could also assist the customers to differentiate their products from those of the competitors in worldwide scale. And with brand recognition and differentiation, the company could be able to charge premium price because customers consider that the products are of greater value than those of the competitors; in addition, the value of brand is determined and reflected by amount of profit that it is generating for the manufacturer.
1.2 Higher sale volumes
As mentioned previously, a global brand could enable the producers to charge premium price over the products that it make, but if the company chooses to price and sell the product at market rates rather than at a premium rate, with a global brand consumers all over the world would consider that the products offered by the company are of great value and are the best choices and therefore another key benefit of enlarging the regional brand of Whirlpool in the North America into a global brand in the industry is the expected higher sale volume by charging market rates.
1.3 Better utilization of assets and human resource
The rate of utilization of the assets and other resource is critical to the business success for any business, for example it would be a waste if there is a long period of time during which resources such as machines are not used during the working hours. As just said, by enlarging the regional brand of Whirlpool in the North America into a global brand in the industry, it is the expected that there will be higher sale volume by charging market rates. With the enlarged sale volume, there would be less chance of the happening of used resources, and the benefits of better utilization of company resources are eminent. Not only will it will help control the cost but also it would enhance the employee royalty.
1.4 Increased attractions in the employment of external talents
With increased competition for talents and top performers on an international and even already on a national level between the companies, which is strengthened by the aging population trend, it is important for a large company to use strategies in order to obtain sufficient good talents to meet the needs of the company’s human resource. By enlarging the regional brand of Whirlpool in the North America into a global brand in the industry, it is for sure that it will increase the brand awareness and also enhance the image of famous employer in the mind of the global talents. Therefore, there could be increased attractions in the employment of talents for the company as an employer, in particular the talents outside of the company.