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Contemporary marketing Assignment - Essay Example

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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)…
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Contemporary marketing Assignment
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Download file to see previous pages 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). This document will scrutinize various ways through which Disney Company has built a strong brand, which has helped the company retain millions of customers and their loyalty thus increasing profits. The paper will cite specific examples of how the company has managed to do this. There are different ways through which Disney is able to keep its customers happy and loyal. One of the ways through which the company has accomplished this is through the creation of a brand promise. The company has been able to narrow down its promise of brand to a single action, which is using heart to entertain (JZMcBride and Associates, 2011). Studies suggest that loyalty includes some level of pre- dispositional commitment in a brand. Loyalty to a brand is seen as a construct that is multidimensional. Such loyalty is dependent on a number of distinct psychological processes and it involves a number of measurements, the perceived value of customers, trust in brands, satisfaction of customers and commitment are all thought to be key influencing entities of loyalty to a brand (Fournier, 2007). As it follows, the strategy of Disney to use heart or feelings in entertaining the customers fulfils all these requirements and ensures that the company maintains the loyalty of its customers. Another way the company builds its brand and retains customers is by controlling its brand. By being true to its brand in numerous ventures is what differentiates the company from other brands in the market. For instance, the company owns ABC, which broadcasts numerous programs. For instance, ABC broadcasts a show Called Pan Am that is based on the lives of individuals in the 1960s. One thing that one notices is that the show does not include scenes of smoking even though they were increasingly common during this time. This shows that the company wishes to stick to its promise of broadcasting shows that are family friendly (JZMcBride and Associates, 2011). According to a number of studies, commitment to behaviour of repeated purchase are considered as necessary elements for creating brand loyalty and customer loyalty, followed by satisfaction, perceived value and brand trust. Several scholars claim that enhancing customer ...Download file to see next pagesRead More
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