Branding Strategy In Food Industry:guide To Write Mba Project Reports And Dissertations

By Author: mahasagar Publications
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In the wake of the economic recession marketers are no longer making attraction of new customers to brands the priority, instead increasing loyalty amongst existing customers has become the focus. Central to success of brands which have led this change in approach has been the ability to engage consumers in new ways – often through online media and loyalty schemes.

Consumer trends and the characteristics of today’s marketing landscape mean that definitions and approaches towards measuring and interpreting “brand loyalty” need updating. New thinking and measurement approaches need to reflect that consumers are more experimental and that trying other brands does not mean “disloyalty” per se.

Food and drinks brands are generally weak when involving consumers after purchase. However, leading brands and loyalty schemes, like Coke Zone, highlight that post-purchase consumer engagement can used to leverage future sales.

New models aimed at developing brand loyalty should therefore place an important role on post-purchase consumer engagement and determining appropriate metrics for tracking this. In ...
... terms of both aiding the provision of post-purchase engagement, and its effective measurement, online media and technologies can play a vital role.

Views on post-purchase engagement need to be seen in context. Online technologies and social media are bright new hotspots and are an important part of the mix, but 70% of purchasing decisions are still made in store. Effective post-purchase engagement of consumers can also help develop a network of brand advocates who generate positive word-of-mouth, especially in the online world.
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Building brand loyalty

The degree of emotional attachment to a brand can often be a key determinant of loyalty. Across consumer packaged goods there is a wide range in the level of attachment achieved, highlighting the difference in effectiveness of various brands’ approaches to developing loyalty.

Generating positive word-of-mouth and offering effective incentives are still the most popular methods for encouraging trial of a product or brand. Brands positioned in the middle ground between offering top quality and high value for money are increasingly being squeezed out of the market and need to differentiate their propositions in order to retain loyal customers.

Modern retailing practices create challenges for all brands. Major national brands must seek to work with the supermarket and hypermarket channels to stave off the threat from both discounters and to minimize the effects of retailers’ private label initiatives.

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Aligning with consumer trends is increasingly important in order to engage consumers. In particular not over-complicating the offering is increasingly important. For those consumers who have been affected by the recession value for money is increasingly important. However, targeting this requires more sophisticated tactics that just offering a straight discount – consumers are increasingly interested in “meal solutions” that fit within clear budgetary patters. For example, meals for the family that cost only a certain amount.

Marketing approaches and tactics need revisiting in order to drive brand loyalty. For smaller brands this increasingly means using innovative marketing approaches that back innovative products. For larger brands maintaining, or even increasing, marketing budgets is vital.

For all brands engaging the consumer post-purchase is an increasingly important method for increasing loyalty. So far you must have learnt how to write MBA Project Reports on Brand Loyalty and the articles by the author will guide you further.