Theyve also begun looking into expanding into the western hemisphere into the

Theyve also begun looking into expanding into the

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also begun looking into expanding into the western hemisphere… into the Americas. The marketthey ordinarily fill has already been filled here.The practice of corporate social responsibility has tremendous effects on brand equity. By definition, brand equity is the value of being a well-known brand name. If your brand is known for practicing corporate social responsibility, then your brand is known as a “stand-up company”, the kind of brand people feel at ease trusting and doing business with. Such a positive reputation could easily grant you a serious edge in global competition, for a multitude ofreasons. For one, Banyan Tree has won several awards for their environmental efforts and their commitment to doing business in a way that promotes meaningful harmony between Banyan Tree and the locals, earning their goodwill. On the flipside, consumers almost always prefer to do business with the “good guy” company over the seedy and shady business. By practicing corporate social responsibility, Banyan Tree also generates more buzz by racking up awards. Allin all, any firm or organization that wants to generate good brand equity will practice corporate social responsibility. There are several problems Banyan Tree could potentially face by branching out into the Americas, Europe, and the Middle East. For one, the locations mentioned have all been tourist destinations for decades. Unlike the Asian market, these markets have become over saturated (South America might be an exception, but it’s rather unlikely). Secondly, Banyan Tree’s current marketing strategy is much too passive for said developed markets. Relationship marketing is cool for the young and developing markets of the Eastern Hemisphere (young and developing isused very loosely here), but for saturated markets like those previously mentioned, there is
much trust to be earned before the current marketing strategy is effective. Brands like Mercedesor Rolex are examples of organizations that have achieved this level of trust, and it took them decades to achieve such brand equity.

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