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Contemporary marketing Assignment - Essay Example
Author : fwaelchi
Pages 4 (1004 words)
Contemporary Marketing Assignment (Author’s name) (Institutional Affiliation) Introduction Building a strong brand has been indicated to provide several financial rewards to companies, and has become a top priority for most firms. Building a strong brand with considerable equity is seen as providing a company with numerous possibilities to benefit a company including increased customer loyalty and decreased vulnerability to actions of competitive marketing and crises in marketing (Aaker, 2004)…
With such keen interest in building a strong brand, two issues usually come up. One has to do with the components of a strong brand and the other has to do with ways of developing a strong brand (Farris et al., 2010). While customer loyalty is mainly described by what individuals do, brand loyalty usually is defined by the feelings and impressions of individuals (Dawes, 2009). A number of global brands can boast the kind of loyalty and passion shown by generations of certain companies like Disney. Disney Company is going to be the basis of this paper on which examples will be drawn on how the company has come up with strategies to build a strong brand that leads to increasing customer retention and loyalty. For more than eighty years, the company has experienced and maintained a lasting and comfortable position in the market. There are numerous reasons as to why the company has managed to be as so, but one of the main reasons is because of the creation of a strong brand (JZMcBride and Associates, 2011). ...