MBA, Seminar in marketing final exam.
Please answer all the following short essay questions, please read them carefully and follow instructions." Open book exam does not mean rewriting what is in the Book" Your understanding and your thoughts will be put together to make the best answers. I personally do believe in both your understanding and your thoughts.
The following questions are short essay questions, requiring responses of approximately 500 words each. All questions will be weighted equally.
Corantor is a hi-tech global company with a traditionally low profile. Until recently, if you asked anyone if he knew the corantor brand name, the like hood was that he would say yes. However, he might not have known what Corantor provides in the way of its total product range, and might have associated the brand name and company with traditional technology. The "Let's Make Things Better" global brand campaign has raised the corantor profile, and provided it with a more focused and distinctive personality. From your point of view, what did corantor do to build its strong Brand and be well known by every one? Answer :
Corantor started small but built a solid reputation with the customer along the way and in the process the name of the company's brands were well known. Note that this company sell several products - and many of these products are also branded, but the company brand is the strongest. but customers remember the product brand more than the company brand.
I want to highlight the five steps Implemented by Corantor to create a strong brand. Which builds on the theory of Customer relationship management & sales.
Clearly articulating Corantor brand identity:
Brand Identity means what the brand means to the customer. Brand identity sets the customer expectations. The key is to clearly articulate the brand identity, and that what help us defining how customers interpret it. A clear brand identity sets right level of expectations by the customer.
Establishing a customer value proposition:
Customer value proposition is the natural outcome of the brand identity. It is what the customers think of your brand.
Defining the optimal customer experience:
Identifying all contact points where customers interact with the company. To create a holistic brand experience, we need to create a consistent and compelling experience at each of these touch points.
For example, marketer must work as a mystery shopper and see if the customer experience is consistent with the customer value proposition and brand identity. by the customer. Take an outside-in perspective when aligning each department with your customer value proposition and brand identity.
Note that the marketer can only test the level of customer experience based on his understanding of customer’s expectations. There may be an understanding gap between what the customer wanted and what the marketer understood.
Cultivate relationships with customers:
Relationship with customers must be treated carefully. Never assume anything about what the customer thinks of the company. It pays to be an active listener to learn and respond to the customer needs. Companies need to respond positively to customer feedback and that will turn casual customers into loyal customers, loyal customers into customer champions. Thus gaining brand value & customer loyalty. The marketing team is always listening to customer to learn what features are needed in the future products and what to add to our persistent brands - that information is passed on the R&D teams - so that the new products will have the feature required by the customer. As a result that will gain the highest levels of relationships with its customers - a level at which customers are willing to invest and co-develop new...
Please join StudyMode to read the full document