Customer loyalty is an emotional rather than a rational thing. It is typically based on customer interest in maintaining a relationship with one organization. Often, customer interest is created and maintained through one or more positive experiences which lead to a relationship. Relationship is built on trust the most important thing to remember about trust is that without it, one have no relationship. This applies to all human situations, not just the customer service environment, for customers to continue long business with one and ones organization, trust has to be earned, and it does not happen overnight. Only through continued positive efforts on the part of everyone in organization can anyone demonstrate to customers that one can be worthy of their trust and thereby positively affect customer retention.… Read the rest
Marketing Principles
Why do Firms Go Green?
Environmental issues have gained importance in business as well as in public life through out the world. It is not like that a few leaders of different countries or few big renowned business houses are concerned about the day to day deterioration of oxygen level in our atmosphere but every common citizen of our country and the world is concerned about this common threat of global warming. So in this scenario of global concern, corporate houses has taken green-marketing as a part of their strategy to promote products by employing environmental claims either about their attributes or about the systems, policies and processes of the firms that manufacture or sell them.… Read the rest
Brand Activation – Why Do Brands Need It?
Brand activation is a new word in business. The brand activation is the process of attract the consumer to your brand through campaign, events, promotion, digital campaigns. Brand activation permits to consumers/customers to find your new products and re-launched products. The brand activation is a strong connection built between the brand and the customers which permit to him to proceed to the purchase action. In certain words, this is a way to educate your clients. The goal of a brand activation strategy is not necessarily an increase of purchase but more about the human dimension, the goal is to increase the brand image, the brand loyalty.… Read the rest
Main Elements of Brand Equity
A brand might be a first image of the product or service to show out to public in the market. Branding is one of differentiation to the company, products or service in the market. Building brand successfully could bring several advantages to companies, such as enhanced the competitive position and reinforce the retailers power. Also can against defending power of company and extend the market share.
A major part of building brand is building brand equity to a company. Brand equity is same to “brand valuation” or “brand value”. It is a value to the famous brand name, at the same time, it also have added-value to the brand.… Read the rest
Significance of Social Evaluation of Marketing
Social Evaluation of marketing is an approach that has a long-term impact on an individual. Marketing plays an important role in a society by influencing life of people. Marketing is much more than advertising and selling. It plays an important role in meeting the needs of the consumers. The concept of marketing touches life of every individual. It is a medium through which desire of people is satisfied on everyday basis. The overall concept of marketing concept covers activities like advertising, public relation, promotion, sales, etc. This is a process through which a product or a service is introduced in the market.… Read the rest
Effect of Relationship Marketing on Customer Retention
There is a relationship between two or more parties who are in contact with each other, comprise supplier (seller) and customer. Relationship marketing begins to provide framework for such marketing situations as describe by the two experiences. But its applicability has also invaded consumer goods and services. Relationship marketing became a common approach of marketing.
Nowadays, there are the four waves of marketing comprise Mass marketing, Targeted marketing, Global marketing and finally Relationship marketing. Those waves play an important role by itself. Three of four waves share one thing in common. Its goal is maximizing sale in Mass marketing, Global marketing or Target marketing.… Read the rest