Page 2: Strategy and aims
Bass’s business is about delivering great customer experiences by using specialist skills in hospitality, food, drink and electronic entertainment.
Bass has developed a vision which provides a statement of direction, designed to meet the overriding expectations of its stakeholders. Bass’s vision is to be the leading player in each of its inter-related businesses in its chosen geographical markets. Bass therefore aims to:
- develop leading brands, products and services that best respond to customers’ evolving needs
- innovate in all aspects of the business in order to be more competitive
- maximise efficiency and economies of scale. Depending on the business, this could be local, national or international
- benefit from the linkages and sharing of experiences between Bass’s businesses.
These aims are designed to help Bass perform better than its competitors in meeting the expectations of its various groups of stakeholders, such as shareholders, employees, managers, customers and all other communities influenced by the Bass Group.
There are certain common themes to the initiatives Bass has been pursuing. These are:
- Building brand strength - this has involved driving the quality and the size of Bass’s brands through focused investment and marketing.
- Developing brand portfolios – Bass is extending the range of brands offered through organic innovation within the business, as well as the acquisition of other businesses.
- Optimising support infrastructure - this has involved improving the effectiveness and efficiency of the systems and processes supporting the brands.
Branding is at the heart of Bass’s product strategy. It provides global recognition and preference for many of Bass’s products. Its brands help to improve growth prospects for the Group and increase opportunities for profitability. Brands are important for customers because they represent attributes, values, benefits and personality.
Customers who build a relationship with a brand understand what will happen when they use each product, creating trust in the quality of experience. Each brand will vary in the power it has in the market-place. Powerful brands provide a high level of brand awareness and loyalty. Brands which have high awareness, reflected through a series of values, will be chosen in preference over others. Such brand loyalty also provides a basis for better growth of good brands.