Therefore high brand loyalty in the expansion of sale’s channels more smoothly, and easier access to more favorable terms of trade. Fourthly, brand loyalty will reduce competitive pressure. Recently, market competition is becoming brand competition. When faced with the same competition, the brand that has high brand loyalty, their consumer change the brand’s speed is slow, so the companies have more time to develop new products, and improve communication strategies to deal with the competition of other
No matter, what medium you have chosen for advertising your brand, it should be prolifically carried out and should target brand logo or identity. If your focus is not broad for branding, your business may not expand to the markets. Besides, if you concentrate on your demographics and brand designing from the advertising point of view, your brand will definitely leave an influential impact on customers. Creates differentiation This is a proven truth that brand identity helps in differentiating your business from a variety of competitive brands. It’s good if you put efforts in creating a unique and creative brand design which impress buyers and stands out of the crowd.
Therefore, in order to have your new or existing customers buy more from you, you will have to follow techniques that work. Customer satisfaction takes a very important place in Marketing. As much as you think that your marketing strategies should help you generate sales, think about how the same marketing strategies could help you achieve Customer satisfaction. There are a lot of elements involved with Customer satisfaction. Know the problems of your customers and what they are looking for, then offer them the right products and outline the benefits to them.
Marketing is about value creation of the product or service, the more you add value, the more you will get competitive advantage in the competitions in the market. The purpose of marketing is to build and develop strong relationship with the customer in a specific customer segment. In today’s world of business marketing’s role is to provide differentiations of the products and services and capture a strong customers’ focus and build loyalty for long term business commitments. Understanding the core marketplace, identification of needs, want and demand of the customers and coordination of these tasks is the aim of marketing to satisfy the customers. Marketing can easily figure out the satisfaction criteria of the customers, market offerings and value of which customers are keen on.
Tesco gives card holder discounts, award, special promotion and many more to both new and loyal customers. Customers are very pleased with the services and benefits that they can get. This is a win-win situation. In conclusion, company should think more about how to make their customers satisfied and successful instead of focusing on how to improve the product or service team. The object of CRM isn’t just having customers make repeat visits to a shop or site and being satisfied with their experiences but to make sure that they will not involve in the activities of competitors that aim to attract their patronage as well.
A societal marketing approach is carried out by making good marketing decisions through considering consumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long-run interests. This tactic focuses on delivering value to customers to improve the consumer and the society’s well-being. Office Depot appears to be focusing on the building profitable customer relationships process of marketing to build value. They are taking their customer relationship management process into account to build their customer relations by delivering superior customer value and satisfaction. They are also realizing that their customers are very important to the success of their firm and are striving to fix any problems associated with their actions.
Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand. It seeks to conduct a consumer insight research in order to acquire consumers’ feelings and perceptions. This paper looks into the brand exploratory aspect of auditing under the customer-based brand equity (CBBE) model. Customer- Based Brand Equity (CBBE) Model Building and enhancing a strong brand has been found to have profitable rewards in business, it has therefore become a prime priority for many firms.
This research reveals that loyal customers have experienced their worth to the organization and look for premium services. They also feel that services given to them should be cost effective and they would only do positive publicity if they feel that organization has been loyal
For this essay, I am going to talk about relationship marketing and the developments, processes, theories, and apply them to customer and use Tesco as examples. By the end I want to see why is it highly used and is it necessary. Firstly, I will provide my first definition of relationship marketing to make sure I have a deeper understanding of Relationship Marketing: Relationship Marketing is a strategy used by businesses which aims to build customer loyalty and by doing so, retain existing customers more effectively. Simply put; it is building relationships with the customers by using marketing techniques which appeal to either a specific segment or a broader market. By appealing to these customers, they are more likely to remain loyal to your organisation and continue to purchase your products.
Good customer experience will help customers experience less frustration, more productivity, and more compassion from the industry; good customer experience will help E-tailers enjoy higher revenues, increase productivity, maintain strong brand, and encourage customer acquisition and retention. REFERENCES www.verticalnet.com www.ecommercetimes.com www.istrategy.com www.creativegood.com www.goodexpereince.com www.visualinsights.ocm