Check Your Clients' Website To See If It Discusses Its

Check Your Clients Web Site To Find Out If It Discusses Its Business

Check your client’s Web site to find out if it discusses its business plans for now and in the future. This is often found in a public company’s annual report. Private companies sometimes list their business activities under the “About Us” or “Newsroom” tabs on their Web sites. Briefly explain your understanding of the basic concept of a marketing strategy to your colleagues in 2–3 sentences. Discuss with your colleagues how you think research can help your selected company understand its brand’s economic value in the marketplace. Add 1 thing that you think your company has not researched well about its brand words.

Paper For Above instruction

A marketing strategy is a comprehensive plan developed by a business to promote its products or services, target specific customer segments, and achieve competitive advantage in the marketplace. It involves analyzing the market environment, understanding customer needs, and positioning the brand effectively to maximize long-term profitability (Kotler & Keller, 2016). This strategic approach provides direction for marketing efforts, ensuring that resources are allocated efficiently to meet business objectives.

Research plays a vital role in helping a company understand its brand’s economic value in the marketplace. Through various forms of research – such as brand equity studies, customer feedback, and competitive analysis – businesses can quantify how their brand influences purchasing decisions, customer loyalty, and overall market share (Aaker, 1991). These insights enable companies to evaluate their brand strength relative to competitors, identify areas for improvement, and develop targeted strategies that enhance brand perception and value.

One aspect that many companies, including the selected business, may not research thoroughly is the emotional connection customers have with their brand words and messaging. While firms often focus on the functional benefits of their offerings, understanding the emotional tone and associations tied to brand language can significantly impact customer engagement and loyalty. Lack of in-depth research into how customers perceive and resonate with brand words can result in missed opportunities for creating more impactful and memorable branding narratives (Keller, 2003).

In conclusion, a well-formulated marketing strategy grounded in robust research can significantly elevate a company's market position and brand value. By continuously analyzing brand perception, emotional connections, and competitive dynamics, companies can adapt their messaging and strategies to meet evolving customer needs and strengthen their economic presence in the marketplace.

References

• Aaker, D. A. (1991). Managing brand equity: Capitalizing on the value of a brand name. Free Press.
• Keller, K. L. (2003). Strategic Brand Management: Building, Measuring, and Managing Brand Equity. Pearson Education.
• Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
• Homburg, C., Kuester, S., & Krohmer, H. (2013). Marketing management: a customer relationship management approach. McGraw-Hill Education.
• Rust, R. T., Zeithaml, V. A., & Lemon, K. N. (2004). Customer-Centric Marketing: Touchpoints of Customer Experience. Marketing Science Institute.
• Schultz, D. E., & Schultz, H. F. (2004). IMC, the Next Generation: Five Steps for Integrating Brand Communications. McGraw-Hill Education.
• Kapferer, J.-N. (2012). The New Strategic Brand Management: Advanced Insights and Strategic Thinking. Kogan Page.
• Urde, M. (1994). Brand orientation—A strategy for survival. Journal of Business Strategy, 15(1), 11-17.
• Farquhar, P. H. (1989). Managing Brand Equity. Journal of Advertising Research, 29(6), 27-35.
• Balmer, J. M. T., & Greyser, S. A. (2007). Corporate Brand Management. Routledge.