Building a Strong Brand Equity Essay

Building a Strong Brand Equity Essay

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Introduction
While the firm is based on the High Street of the town, annual revenue between £40000 and £50000 is not good enough. The company is not competitive and only hold a small part of market shares. This report aims to suggest and propose methods that help the company to reposition. It is important to figure out the problems in order to become more competitive in the market.
Minority of customers contact the company by email and most of the customers purchase goods and services by going into the shop directly. Those customers who send emails to the company may realise that the email address of the company does not match the domain of .co.uk domain, which customers might have doubt about the brand of the firm. Additionally, the range of products and services provided by the shop is narrow. Moreover, the company does not have an effective way to communicate with the public, neither by the internet nor by any advertisement.
SWOT Analysis
A SWOT Analysis can be done to help us understand more about our strengths, weaknesses, opportunities and threats. The firm’s strengths are the actual products, which include brand name, service features and quality, and augmented products such as additional services and supports. The products and services provided by the shop can be classified as shopping products. Shopping products are products that usually be compared on such attributes as suitability, quality, price, and style (Lucas, 2014). Shopping products are more expensive than convenience products such as foods and books, therefore customers normally do research before purchase shopping products, either through internet or advertisement. Our weaknesses are lack of communication with customers, which the firm does not have a proper...


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... criteria for brand essenceTM, What every professional should know about branding, available from http://www.slideshare.net/duckofdoom/9-criteria-for-brand-essence [13 March 2014]
Riley, 2012, Promotion – Advertising, available from http://www.tutor2u.net/business/marketing/promotion_advertising.asp [17 March 2014]
Schultz and Kitchen, 1997, Integrated Marketing Communications in U.S. Advertising Agencies: An Exploratory Study, available from http://uts.cc.utexas.edu/~tecas/syllabi2/adv391kfall2002/readings/JARSchultz.pdf [16 March 2014]
Tanner Jr and Raymond, 2013, Principles of Marketing, v. 1.0, available from http://catalog.flatworldknowledge.com/bookhub/2030?e=fwk-133234-ch11#fwk-133234-chpr [16 March 2014]
The Marketing Donut, n.d., Online advertising, available from http://www.marketingdonut.co.uk/marketing/advertising/online-advertising [16 March 2014]


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