First of all “premium” does not mean luxury and luxury does not always means premium. Most people think luxury to be “expensive” but that is not the case.
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Because of the sheer volume of product and service providers in virtually every market category, most businesses are now commoditized. The competition in every segment is fierce and because the customers have so much choice, it would be quite fatal to believe that customers would beat a path to your door and buy what you are offering. Read More
Customers love having the chance to win those big prizes—it’s the same thrill they get when playing the lottery or gambling, but with less social stigma and guilt involved. This is because (depending on the mechanics) they’re not just buying a paper ticket—they’re buying a product that they’re actually going to use, and a chance for greater rewards beyond that. Even if the customer doesn’t win, they’ve still gotten a neat product out of the exchange.
Brands get the better end of the deal by far. Well-run contests manage to do multiple things at once, all of which are extremely beneficial to the brand:
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Given the challenges that brands face these days, more have become more vulnerable to collapse. It is a very depressing event for any business owner to see his or her brand fall down, most especially if the brand has been in the market for several decades already. Building a brand may take several years of hardwork and creativity, but it may just take a few minutes to bring a brand in distress. This is what makes this unbearable for most company owners. Everything is possible and business owners should always be prepared on how to combat this unfortunate situation. Understanding the early signs of a collapse can help companies do necessary measures to avoid it.
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Unfortunately, the image you’re trying to cultivate might not agree with how it is actually being perceived. How can you tell if you’re experiencing a brand disconnect, and how can you remedy it?
Banding can allow hotels to differentiate themselves, form business alliances, pricing structures or product extensions.
Can controversy boost your brand? In many cases, the surprising answer is ‘yes’. While few people think of controversy as being a positive thing, it can lead to free media exposure and stronger brand loyalty.
Brand integration is a subject that many business owners talk about, but few feel they really control. This is because it is a rather abstract idea.
Branding is a delicate process, one that no small business owner should undergo without the guidance of a branding consultant. Even with expert advice available to all, there are certain mistakes that affect businesses big and small. Here are five branding strategies that guarantee failure for your business.
Brand loyalty is an essential component of success in small business. It’s important not just that people identify with your brand, but that they feel committed to your company. Luckily, there are ways for you to build this type of loyalty without spending a fortune on marketing.
