Business Studies Paper on The One Thing You Must Get Right When Building a Brand

The rise of social media is perceived to have brought an end to traditional marketing and branding activities. However, that is not true as social media has made it more significant for companies to get their branding fundamental rights. Most companies tend to use social media as a tool to engage and collaborate with the ever-growing and competitive business market. To maintain the competitive advantage in the current global market, most companies tend to improve their decision-making processes, exploit social media opportunities, and provide high-quality products to their customers. As such, companies use social media to enhance customer promise, building trust, continual market improvement, and innovating their products beyond the familiar.

According to Barwise and Meehan, offering and communicating precise customer promise is essential to any branding activity (4). Companies tend to use social media to deliver various promises such as production and distribution of high-quality products, to attract new and maintain their existing customers. Moreover, building trust with customers is fundamental as it enables customers to stick onto the right products. Most companies build trust with their customers by delivering their promises. Besides, most companies drive and maintain their competitive edge in the global market by continually improving on their promises. As such, these companies tend to attract more new customers to buy their brands. To seek further competitive advantage, most companies tend to innovate their product brands. The innovative strategy is taken not to allow the competitors to produce similar products.

As most companies tend to use social media for their marketing and branding activities, they should focus on attracting more new customers rather than selling their products. Moreover, these companies should maintain the speed of social media as it is continuously growing to reach the customers fast. In the process, these companies should maintain their reputation rather than destroying it by not delivering their promises to the customers (Barwise and Meehan 5). Also, companies to should follow the social media rules associated with customer engagement, to maintain that competitive edge in the current global market.

 

Work Cited

Barwise, Patrick, and Sean Meehan. “The One Thing You Must Get Right When Building A Brand.” Harvard Business Review 88.12 (2010).