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Flagship Company | Flagship Store | Flasghip Store | Flagship Brand | Flagship Products & Services
FLAGSHIP - MEANING & DEFINITION
Let us first know the meaning of "flagship" itself.
Flagship is a nautical / naval term. It is commonly used in marine.
As defined by Oxford Dictionary:
"Flagship is the ship in a fleet which carries the commanding admiral".
In the context of a company or an organisation, it means "The best or most important thing owned or produced by a particular organization".
WHAT IS A FLAGSHIP COMPANY / CORPORATION?
A flagship company:
is a company which is the leading company in a group of companies;
may have a number of subsidiary companies, but it's not a mandatory thing to be called or known as a flagship company of a group of companies;
represents the brand image of the group in the market/industry;
is the well-known company among all the companies in that group.
Samsung Electronicsis the flagship company of theSamsung Group.
Hitachi Solutions is the flagship company of theHitachi Group.
Jindal SAW Ltd. is the flagship company of theO.P. Jindal Group.
Hindalco Industries Ltd., the metals flagship company of the Aditya Birla Group.
Various other important terms on "Flagship" used in the industry in relation to companies
A Flagship store is usually the most important store of a company among various stores in a retail chain. Flagship stores are established to mainly promote the brand image of the company by showcasing of the products and/or services of the company in these stores in the most attractive way.
Flagship stores' premises are not only huge but also are best quality stores of the company, as for the establishment and maintenance of which company generally spends a lot of funds. Its premises are mostly huge as it holds large quantity / high value merchandises in it with variety of products.
Flagship stores play a vital role in the retail brand strategy of a company.
Here another important aspect to be noted is - flagship stores are generally opened in high profile locations.
Flagship stores are also called as Flagship shops.
Apple has built several stand-alone "flagship" stores in high-profile locations viz. Amsterdam, Berlin, Chicago, Edinburgh, Geneva, Hong Kong, London, New York, Osaka, Paris, Shanghai, Sydney, Tokyo, Toronto, Turin, and many other such kind of locations.
An asset, which is the most important / profitable / valuable asset for a business.
These assets are very important
for the company as they contribute most to the bottom line of the
company i.e. to the net earnings or net profit of the company.
In most cases the worth of the asset is very high.
A flagship asset is also known as the "trophy asset" / "marquee asset" / "crown jewel".
A company has got 100 production
units across country, but out of them 5 units do really well and
manufacture the maximum products with minimal damages. These 5 units is
considered most valuable units by the company. Hence, these 5 units can
be called as the Flagship Assets of the company.
A company which is selling 10
different products, but among which 2 products are only contributing the
most to the profit of the company. Then these 2 products would be
called as the Flagship asset of the company.
Flagship brands are generally the products and/or services of a company which are most popular in the market.
These companies generally have
several products and/or services but it is only the flagship brands
whose sales have taken a peak in the market.
These companies' reputation depends on themarket credibility of their flagship brands .
Flagship asset is a similar term for Flagship brand.
"Coca-Cola" is the flagship
brand of Coca-Cola Enterprises (CCE), even though CCE sells other most
popular beverage brands in the world viz. fanta, sprite, etc.
FLAGSHIP PRODUCTS / SERVICES
Flagship product or service is the product or service of a company which identifies that company. That means among various other products or services a company offers, its flagship product or service is the well-known one among large section of consumers in the market.
Flagship productrepresents the brand value/brand identity of a company.
Flagship products are highly well designed products and are made very attractive as compared to any other product of the company.
Companies also do a lot of promotions and advertisements to market their flagship products wide across the country or even internationally.
Flagship brand is a similar term for Flagship product.