Energizing the business
5 important questions on Energizing the business
4 Ways to grow a business:
- Leveraging the current business ( take the existing products or customers intro new markets )
- Creating a business by finding white space in the market or by transformational innovation.
- Going global
- Energizing the existing business
What is a brand energizer?
Name 6 types of brand energizers
- Branded sponsorship (Adidas that sponsors adidas street challenge)
- Endorsers (Famous personalities)
- Promotional activities ( Redbull car )
- Symbols (Ferrari Horse)
- Social Programs (Avond breast cancer crusade)
- CEO's
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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What is a Branded Differentiator?
E.G
A heavily bed in a hotel
--> A brand differentiator needs to be impactful for customers
How to increase the usage of existing customers?
- Motivate heavy users to use more ( VIP services, Gold cards )
- Make the use easier
- Provide incentives (Free drink if you buy a meal)
- Remove or reduce the reason not to buy
- Provide reminder communications
- Position for regular or frequent use (Activia yoghurt everyday for digestive comfort)
- Find new users (Viagra actually for blood pressure not for erection )
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
