United Kingdom Energy===BP
Following a couple of nightmarish years, BP is still trying to restore the value of its brand to 2006 levels. Revenue has been boosted by record oil prices, but its reputation has been tarnished further by problems and incidents in Alaska and Texas City, while instability in its Russian TNK-BP venture threatens to cause more harm. On a more positive note, BP is now seen as a leader in working towards greener energy. Its investments in sustainable energy sources work to reduce exposure to the price of oil and the ultimate threat of its exhaustion.
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United States Restaurants===STARBUCKS
Despite a challenging year for the business, Starbucks has focused its energies on rebuilding the brand. As the credit crunch bites, consumers are less willing to pay a premium for what has effectively become a daily staple. The success of Starbucks has made other outlets up their game, with brands like McDonald’s offering coffee arguably as good for a fraction of the price. In the US, Starbucks is cutting costs through layoffs and shutting down 600 under-performing shops. It’s a story repeated in Australia, where 61 of its 85 stores were closed as the brand offered no real benefit over local coffee houses. Despite its problems, Starbucks is fighting back by focusing on the experience of its outlets, exploring music and entertainment initiatives, and improving service by retraining baristas and engaging them with the brand.
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ING has continued to differentiate itself in the marketplace, emphasizing its reputation of being “easy to work with.” While the bank has been hit by the US financial crisis, it has not been effected as dramatically as some others within the industry. ING has continued to build awareness through advertising and its sponsorship of the Renault Formula One racing team.
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