Topic > Building strong brand equity - 1875

IntroductionAlthough the company is based in the city's High Street, an annual turnover of between £40,000 and £50,000 is not enough. The company is not competitive and holds only a small portion of the market share. This report aims to suggest and propose methods that will help the company reposition itself. It is important to understand the problems to become more competitive in the market. A minority of customers contact the company via email and the majority of customers purchase goods and services by going directly to the store. Those customers who email the company may realize that the company's email address does not match the .co.uk domain, which customers may have doubts about the company's branding. Furthermore, the range of products and services offered by the store is narrow. Furthermore, the company does not have an effective way to communicate with the public, either through the Internet or through advertising. SWOT Analysis You can perform a SWOT analysis to help us better understand our strengths, weaknesses, opportunities and threats. The company's strengths are the actual products, which include the brand, features and quality of service, and additional products such as additional services and supports. The products and services provided by the store can be classified as commercial products. The products to be purchased are products that are usually compared based on attributes such as suitability, quality, price and style (Lucas, 2014). Purchasing products are more expensive than ready-to-purchase products such as food and books, so customers normally do research before purchasing the purchasing products, either via the Internet or through advertising. Our weaknesses are the lack of communication with customers, for which the company does not have adequate... medium of paper... criteria for brand essenceTM, What every professional should know about branding, available from http: / /www.slideshare.net/duckofdoom/9-criteria-for-brand-essence [March 13, 2014]Riley, 2012, Promotion – Advertising, available at http://www.tutor2u.net/business/marketing/promotion_advertising. asp [March 17, 2014] Schultz and Kitchen, 1997, Integrated Marketing Communications in US Advertising Agencies: An Exploratory Study, available at http://uts.cc.utexas.edu/~tecas/syllabi2/adv391kfall2002/readings/JARSchultz.pdf [16 March 2014] Tanner Jr and Raymond, 2013, Principles of Marketing, v. 1.0, available at http://catalog.flatworldknowledge.com/bookhub/2030?e=fwk-133234-ch11#fwk-133234-chpr [16 March 2014]The Marketing Donut, n.d., Online Advertising, available at http:/ /www.marketingdonut.co.uk/marketing/advertising/online-advertising [16 March 2014]