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Introduction Those interactions – which collectively shape the way the customer experiences your company and perceives its brand – are broader than you may think and now matter more than ever. Of course, the customer experience encompasses the delivery of your company’s products and services. But it also involves what the customer observes in connection with anything associated with your company – including advertising, Web sites, sales presentations, and what other customers are saying about their own experiences. Loyalty programs – which promote specific customer behaviors by providing benefits (such as rewards) – can help enhance the customer experience. While companies often view such point-based programs as a fast way to enhance profitability by inducing customers to buy, they are finding that there is a much greater value provided by loyalty programs: the collection of information from program members.
The advantage of Yankee Candle when compared to other smaller stores’ transition area, is the perfumed product. The smell of Yankee Candles actually reaches the customer from the door, and this USP propels the customer further. It means that they are more likely to pass the initial transition area and complete the obligatory/ cursory loop of the store. As Yankee Candle has a very specific aim as a store, in that it mainly sells a very specific type of product, the transition stage is not actually all that important to the store’s makeup. This is also true because of the smaller size of the store.
Some of the company will use a conceptual model for building their brand in competitive market so that they can survive long term in the market. A conceptual model also can namely as positioning the brand, communicating the brand message, delivering the brand performance, and leveraging the brand equity. It could be help brand packaging to understand more the competitive differentiation in this four way. According (Aaker, 1991), there state that strong associations is supported the good positioned brand has a competitively attraction position. Example like friendly services, store’s offering of home delivery and so on.
“In the consumer marketing, brands are often the initiating point of the difference between competitive proposals, so that they can be significant for organizations success. Thus, it is very important that brand’s management applied by strategic method. The brand is a fundamental product of a company. Brand equity shows a price difference that a powerful brand attract it in its sale in comparison with other brands. In recent researches about brand equity, there are two main prominent theoretical points of view that provide valuable views into the body of brand equity.
In addition companies need to deliver their products while keeping cost effectiveness in consideration. If they understand the perceived benefits of their target audience and are able to engage with them on a personal level, they can attain customer satisfaction and ultimately can have increased sales. In conclusion, conveying Unique Value proposition clearly to the customers could be a complete win/win for any business. Brand equity Formal Definition: The commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself. Alternative Definition: Brand equity refers to a value premium that a company generates from a product with a recognizable name, when compared to a generic equivalent.
Market Orientation According to Naver and Slater (1990), market orientation is one of the organizational cultures which will lead to high performance of a business. This is because the business is able to provide customer superior value with lead cost and time. Market orientation includes customer orientation, competitor orientation and interfunctional coordination. Market orientation will lead to new product performance whether the new product is achieving customers’ expectation or out performing than their competitors (Zhang & Duan, 2010). From Zhang and Duan’s research (2010), market orientation is important than innovation orientation, because customers’ expectation was studied and innovation of new product was built according to customers’
Because of intensified market competition, PTT strive to operate its business operations in align with a sustainability strategy by maintaining a balance of being a high performance organization and of an endeavor to the continuous improvement of technology, innovation and knowledge. It enhances business operations based on knowledge, expertise, experiences of personnel and cooperation among companies in PTT Group. It possesses a lot of experiences, important lessons learned and powerful resource to get this long-term survival. Knowledge management capability plays important roles of to utilize successfully the PTT’s company’s resources in order to improve performance. To summarize, organization’s strategy should pay high attention on developing and implementing KM practices in the organization.
It is worthwhile to mention here that the process of brand building is also referred to as brand equity. Brand equity is the outcome of various marketing strategies of any organization which is reflected in the consumers’ response. Brand equity is perceived by consumers as the value added to the product by associating it with a brand name. The sources of brand equity help to increase the customer base of a firm. The effectiveness of marketing strategies is enhanced by brand equity assets.
The promotional strategy has become an important part of the business organization; because the success of the business organization basically depends on the different types of sales promotion schemes in order to attract the customers. A consumer is someone who enjoys the benefits deliver the product. Consumer Buying Behaviour is the behaviour of the consumer at the time of purchasing of Goods and Services. Sales Promotions are used for the increase of sales. In this research, we discussed the impact of promotional