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Theoretical framework of brand awareness
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Brand promotion
With a market full of various companies of various industries trying to sell something or the other to prospective customers, it is not easy to connect to customers by just advertising your product. You need something more to boost your visibility in this market teeming with competitors, and brand promotion gives you the answer to that.
Brand promotion is a marketing strategy that helps your company to send direct messages to your customers and prospective customers. It helps to create an image of your brand in the mind of the customer for easy access and recall. This not only increases the chances that the customer will relate the products you sell with the brand but also increase brand loyalty.
Brand promotion sounds pretty
Because of its intangibility a lot more goes into it. The company should carry out activities that harp on these statements and core values. With brand promotion a company seeks to establish a long lasting relation with the customer. If a company presents commitment to excellence as one of its core values, vision, or mission, it should leave no stones unturned to stick to these golden words. Be it a faulty / damaged product that needs replacement, or a customer who needs immediate help with the product they bought from you, you should make good of your promises and strive to provide excellent service to your customers. As it has been said, it takes years to build trust, loyalty, rapport with the customer and only 5 minutes to lose it
In this marketing exercise, you give potential customers an opportunity to use your new product free of cost and see if they like it. In-store promotions work best in this regard. Many a time they have their representative at the exact location where the same products from other brands are placed as well. When the customer goes to the shelf to buy their regular product the representative offers them a free sample of the newly launched product and asks them to try it. It is like a potential customer just walking up to you, and you ask them give your product a
Promotion is advertising to potential customers in and effort to create an awareness of your business. It is reasonable to believe that without the ability to advertise a company would have a difficult time generating new customers.
Without good customer service and keeping your promises, your company would have loyal customers. According to 5 Focusing Steps, “If you’re not yet sold on the idea, consider that a 2 percent increase in customer retention has the same effect as decreasing costs by 10 percent. Not only that, but it costs over six times more to get a new customer than it does to keep one.” Customer satisfaction should be a golden rule of all companies.
A brand is utilized by a company to differentiate its products from others in the market. Some techniques for accomplishing this are through the use of distinguishing logos, names, color schemes, and slogans. An effective branding strategy is one of the most important components for gaining a significant advantage in a progressive market. Basically, a company brand is its promise to its customers about what can be expected from its product and how it differentiates from the competitors. The branding strategy is the part of the marketing plan that explains how and to whom the company proposes on conveying its brand messages. It will also explain where the company plans to advertise and what it will publicize both visually and verbally (Williams, 2013). Home Depot’s marketing plan will contain domestic and global branding strategies and will be a collaboration of brand messages from both Home Depot and Reach the Top®.
Strive to earn customers’ long-term loyalty by working to deliver more than promised, being honest and fair to provide exceptional personalized service that creates a pleasing business experience.
Promotion. Finally comes promotion - informing the customer on the qualities and advantages of the product so that the potential buyer learns about the product, prefers it to those of the competitors, and has an opportunity to buy it at some place.
Close to the Customer: Customer satisfaction is very important throughout all the roles that the business plays. Many companies forget about their customers, whereas successful companies have an obsession with their customers. Excellent product quality and reliability will make a satisfied customer. Great service will keep the customer coming back.
Everything now a day is marketed, from the water we drink, the food we eat and the clothes we wear. Marketing not only establishes brand recognitio...
A company’s brand is one of its most valuable assets (Green and Smith 2002). Brands owners invest millions of dollars every year in advertising and promotion to raise awareness and create demand for their brands.
Brand is the name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of others. Initially, Branding was adopted to differentiate one person's cattle from another's by means of a distinctive symbol, and was subsequently used in business, marketing, and advertising.
Marketing and branding, two of the most common used words in the contemporary world, is closely linked to each other without doubts, but the importance of branding to successful marketing is enquired to measure in term of the question. In fact, various people have different ideas on marketing and branding. For most of people, or customers, the two are normally combined in their minds or even equal to each other. For example, people could raise Apple as the answer for both questions of "what is good branding" and "what is successful marketing". In fact, they are two separate topics on academic, and branding is just one of the numerous marketing activities apparently. However, the perception of consumers might be a good guide to answer the question.
The practice of brand management is a key component of marketing and performs an integral function by motivating the wants and needs of consumers. It is known that marketing can shape consumer needs and wants, however, consumers today appear to be more knowledgeable about the information regarding products. Consumers lead busy lives and have therefore gone to the internet as one of the many channels to learn about products in order to make informed decisions. This paper will discuss the argument that marketing should reflect the needs and wants of consumers rather than shaping these attributes. Due to the speed and ease of obtaining information, consumers do not take at face value strong marketing efforts that appear to be overly aggressive and push a brand rather than just being informative. Brand managers have to be aware of these changing dynamics and carefully craft brand management practices to meet the demands of consumers.
According to Shimp (2007), there are five important factors which determine the purpose of advertisement in terms of marketers’ communication with consumers. He listed these five factors as follows: “(1) informing, (2) influencing, (3) reminding and increasing salience, (4) adding value, and (5) assisting other company efforts.” (p.246). To clarify that, the first most important aspect is informing people which means company needs to enhance the awareness of the consumer about their products by mentioning its advantages and features. Advertising also affect the products in two ways. Firstly, by basic demand, which build consumer desires for old products of the company and secondly, refers to a new brand of the company. In addition, effective advertising can retain consumer’s mind fresh about the image of a brand which develops the trace of the memory where consumers have to choose between two or more products. Moreover, it may change the product quality, create new, well-designed and elegant product and change consumers view towards the product. Lastly, by effective advertising program, company may save money and time as s...
Advertising and sales promotions pay a major role in establishing brand equity. Advertising is a promotional strategy with the intent to attract and create interest and desire to increase purchases and brand awareness. An example of advertising would be a television commercial for a new laptop showing all of the new or updated features.
Advertising lies in the Promotion part of Marketing Mix, but it applies to all the other P's as well. Promoting one’s business is the key ingredient to making one’s business successful. Promotion, along with a great product, key placement, and a reasonable price, will help a marketer work his way to the top. Promoting does not mean leaving his advertising up to the word of mouth of his current customer.
Product launch not only helps company increase the sale revenue but also expand their customer base by targeting new segments. A successful launch involves the contribution and collaboration of all departments, from R&D, Logistic, Sale, Marketing and so on.