Essay on Marketing Analysis : Marketing And Marketing

Essay on Marketing Analysis : Marketing And Marketing

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A brand is an x-factor in today’s time when the battle for customers intensifies. A firm should invest significant amount resources in researching, defining, and building a brand. It 's a fundamental part of marketing communication and one without which a business will have a tough time. A well designed brand facilitates message delivery with ease and eliminates the need for an expensive advertising. Because of this, the importance of branding in marketing is evident if one wants to connect with customers as they acknowledge brand power. A firm should customize its brand, according to the needs of the customer base for success in business. Marketing team strives hard so that customer has positive perception about their brand. When a business is distinguished through branding, the marketing has the capability of becoming so profound that little else is necessary. Below are few benefits:
One is remembered: It’s tough to remember a company with a generic name. A brand distinguishes business from its competitors with respect to the firm’s purpose and business focus. Branding your business ensures that customers are aware what the brand stands for and what is the portfolio. Marketing team’s role is to promote a product and a brand’s new product will need minimal communication and advertisement cost.
One gains customer loyalty: Consumers build close bonds with brand identities. Consumers want quality products that they can trust. So, your business should have an identity that your customers can follow immediately. People will not only remember you but also refer you to friends and family. A brand stays in the heart of customer to its difficult to re-position it. This helps to reduce stress overhead of marketing and sales team.
One be...


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...cating about your products to new customers is a costly affair. The loyal customers will be a strong influence to get prospective customers to try out your brand, reducing the overall overhead in acquiring new customers. Customer loyalty protects your business from the competition. Thus, neither low prices can take your loyal customers away, nor your high prices will make them go away. Thus, a business is immune to economic conditions and to cruel competitors hovering over your business like vultures. Loyal customers provide honest feedback, as they want to see your brand thrive and support them better. Many times, new customers don 't voice their concerns and leave you quietly. You hardly get feedback from new customers and this is harmful to the product and service quality. Loyal customers are more likely to overlook your errors or forgive if timelines are not met.

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