Write about the following topic:
Marketing strategy for big companies should be placed on offer and discounts, and in what ways this can impact on their reputation.
You should spend about 20 minutes on this task. You should write 200-300 words.
Getting offers and discounts on big brands all year long is a regular thing now. I am of opinion that a good marketing strategy can help a company or brand achieve a higher perceived value. Although offers and discounts are useful for driving customers and short term sales but it impacts brand reputation and market position in a negative way.
Loyal and returning customers is an asset for any business or company. It costs hundreds of dollars to make a loyal customer and in return, they give high ROI prospects. Such customers can benefit a company in many ways. Offering discounts on products by big brands persuade their loyal customers in thinking that the quality of products has been compromised. Its impact will be long term and hard to repair.
Most of the customers have the perception ‘You get what you pay for’ so cheap offers or discounted prices can take away the loyal customers and instead get the business a different stream of customers who are disloyal and often indecisive. Such people can spread bad words about the brand that spreads like a virus and can damage brand reputation.
A major chunk of buyers wants genuine buying experience rather than cheap offers or discounted prices. Amazon is a perfect example of a good marketing strategy where customers get to see products based on personal preferences and browsing history.
To conclude, there are other tons of options to drive traffic and stand out from the crowd. Big companies or brands should keep their existing customers satisfied along with attracting new customers without compromising with product quality and brand integrity.