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You Decide - Coursework Example

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For this premium service the company is targeting the high end professionals and corporate executives who are willing to purchase these portraits at a premium price as opposed to the normal…
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Download file to see previous pages... The best product offering for this market segment would be the family portraits with a choice between an office one and one for home use. The reasoning behind this is that the corporate executives are busy people who rarely have time for home issues. Having a portrait that shows a whole family at the office could be just what these people would love to have to remind them of home. Choosing a product offering for any market segment must consider the needs, preferences, lifestyles, habits, ability to buy and the value it gives the customer (Kotler & Armstrong, 2010). High end customers are difficult to understand because of varied preferences and customization may be required in many instances (Mullins & Walker, 2010).
An online value proposition answers the questions: who are we, what do we offer, who we serve and what makes us unique? The online value proposition is more than a proposition as it shows what a firm can offer using content, products, services and or experiences to engage online customers (Kurtz, 2008). The company should use its unique technology as its online selling proposition. A variety of portraits should be availed on the website showing various product offerings with different versions of the same portrait available. The website should also give the executives an opportunity to make fast, secure payments for the portraits on the website
Brand equity represents an intangible asset for any company and depends on the associations made by the customers. Strong brand equity ensures a more stable stream of income, increases cash flow and is an asset that can be sold (Pride & Ferrel, 2010). Brand equity can be built basing on financials or on consumers. Our Town Photography Studio brand equity should focus on building consumer loyalty in the brand. When people especially the executives have a strong liking for the firms products, chances are ...Download file to see next pagesRead More
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