MARKETING AND STRATEGY

Marketing and Strategy

Marketing and Strategy

Innovative Marketing Strategy

Since every year new brands are introduced into the market and the existing brands try to come up with creative and innovative ideas so that customers are retained as well as new customers are attracted toward purchasing the brand. Branding is extremely important for a brand's customer retention, expansion as well as achieving a competitive edge in the marketplace.

The market has been oversaturated with different brands flooding the market shelves every year. This results in an overwhelming competition in the market and as a result, companies have to carry out yearlong planning and market research to come up to customer satisfaction so that clientele is retained and such strategies are employed that customers can be attracted toward the brand. Another strategy is to go toward brand extension, whereby a renowned brand enters into a new product category with the same brand name or extend the line of the same brand. It is necessary for companies to develop a creative marketing strategy, however, with the passage of time and technological development and globalization, there was large-scale production, improvement of quality, and competition appeared in all the countries of the world. Under these circumstances, world consumer markets of most countries have large displays of products. In today's world fashion, products are bought, not sold. This is because of globalization and the vast amount of information and advertising which gives the consumers a lot of options to choose from. As the value of the brand is a very important asset for the company, it is necessary to have full know-how about it. In this regard, it is important to remember that a brand is a concept or idea that consumers have in their mind, but is owned by a company, and that branding is the process by which the brand is differentiated from the rest.

Internet and social media use

Undoubtedly, technological advances that occurred in recent years have changed the lifestyle of people in many aspects. Various companies and private businesses promote their products through social networking websites, a lot of them to sell their merchandise through this route. This is truly beneficial to women, especially talking about fashion. It is known that a characteristic of the female is their passion for shopping and everything that relates to the new trends in clothes, shoes, handbags, accessories, and so on. Now has the opportunity to learn via online updates, because most major brands of clothes (and not so familiar as well) has its own website where they offer photos and prices of their products. These are the 4 basic steps for a successful advertising campaign reach, that is, first, should attract attention, arouse interest after the offer, then awaken the desire of acquisition and, finally, urge the reaction, or offer the possibility to react to the message, resulting generally in the purchase (Alden 1999,75).

Social Networks makes it extremely easy for your customer to share with one click on your network of friends, online promotions, resulting ...