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Marketing : the repositioning recommendations
TOP 4 recommendations in a time of economic recession
eBrand Services recommends taking advantage of the new “connective” forces and re-positioning your business in a time of economic recession.
- Keep informed of the marketplace trends and forces. There are both challenges and threats with the new, ubiquitous connectivity. A dynamic, interactive Internet presence can add value to the brand through personal and social connections. Brand loyalty depends on several factors. One being the ability to consistently deliver on the brand promise and another is the ability to proactively sustain that loyalty. The mobile global Internet offers a myriad of ways to promote awareness, capture interest, and create desire that leads to action.
- Think outside the brand box. A good brand name and logo alone are not enough. A carefully thought-out and ever-evolving branding strategy should be founded on cutting-edge marketing principles. In fact, branding and marketing are synonymous.
- Let the current economic recession be a driver for creativity and opportunity. Re-position your company to match the ever-shifting consumer interests and geo-political realities. For instance, Wal-Mart is repositioning itself as the retail company that offers the lowest prices-though not a new niche for Wal-Mart, the company has returned to a very salient selling point in response to the economic recession.
- Seek external expertise to find the right strategy for your new or growing business to optimize your brand power and valuation. Creating a strong brand personality and presence is more complex than it may seem. Expertise in different fields (marketing, technology and intellectual property rights) is required for creating, protecting, managing and optimizing brand capital.