Programs offering incentives to loyal repeat customers are called loyalty program. Sponsoring an event for a local club or PTA or sports league gets your name out to consumers, but picking the right entity with a membership that best reflects your target market is an important aspect to the exercise.Generic products have also morphed from a cheap-priced black and white afterthought to a colorful and exciting choice.One of the study’s findings was that although the lines are blurring between private labels and name brands, the advantage goes to the brands based on trust. Using social media to introduce consumers to private labels that embrace the store values is all about starting and maintaining two-way communication.The power of brand equity seeks to erase the price differential of a substitute so only the relationship and perceived quality of the branded good will be considered.Getting consumers to share their stories and become involved and invested in a private label is an integral step in building the brand online.
If its private label products are incongruent with the values of the overall brand, then they will not be successful.Logic would dictate that a comparison on price would lead to the purchase of a store brand, which almost always costs less than a branded product.Some food retailers have highly respected store brand labels that are not saddled with the negative stereotypes of low-quality, cheap imitations for the real brand product. These retailers have built a solid reputation by providing consumers with a choice that saves money but does not forego quality. In many cases the emotional attachments win out over an economically sound decision.You are the strategic leader of a highly competitive electronics company, Anderson Inc. Anderson Inc. is a global leader in electronics sales to corporate and international customers. The competitive nature of the market is creating the need to implement new and well researched strategies and online tools in order to compete with another company that is taking contracts from your organization daily. This other company, Henkerson Inc., isoffering products at a slightly lower cost. Their customer service ratings, however, are much lower than Anderson Inc.One key expense to add to the marketing budget is associated with communicating about new online ordering.