In today’s world, there is high competition between companies to sell their products to the customers. To be successful in their specific field, some companies rely on creating a brand with reputation while others rely on providing discounts and offers.
Building a brand with reputation to gain consumer loyalty and trust in the company’s commodity takes years of hard work while being consistent with the quality of the product. For example, popular brands like Nike and Adidas are able to gain success and have consumer loyalty and trust even though their products are comparatively expensive by providing quality products.
On the other hand, smaller companies depend on product discount and offers for the sale of their products so as to build a customer base. Due to these sales and discounts customers try the products and this then leads to customer loyalty or trust in the company’s products.
Sometimes during sales companies provide discounts in various forms, but still manage to keep the company in profit with an expanding customer base and increased sale. For example, if a company is advertising for a product like shampoo, they tend to give offers like getting a conditioner free or get another shampoo at half cost, etc.
In my opinion, the success of a company depends on the discounts and offers that the company provides as it can also be the first step in building a brand.
In
today
’s world, there is high competition between
companies
to sell their
products
to the
customers
. To be successful in their specific field,
some
companies
rely on creating a
brand
with reputation while others rely on providing
discounts
and offers.
Building a
brand
with reputation to gain consumer loyalty and trust in the
company’s
commodity takes years of
hard
work while being consistent with the quality of the
product
.
For example
, popular
brands
like Nike and Adidas are able to gain success and have consumer loyalty and trust
even though
their
products
are
comparatively
expensive by providing quality products.
On the other hand
, smaller
companies
depend on
product
discount
and offers for the
sale
of their
products
so as to
build a
customer
base. Due to these
sales
and
discounts
customers
try the
products
and this then leads to
customer
loyalty or trust in the
company’s
products.
Sometimes
during
sales
companies
provide
discounts
in various forms,
but
still
manage to
keep
the
company
in profit with an expanding
customer
base and increased
sale
.
For example
, if a
company
is advertising for a
product
like shampoo, they tend to give offers like getting a conditioner free or
get
another shampoo at half cost, etc.
In my opinion, the success of a
company
depends on the
discounts
and offers that the
company
provides as it can
also
be the
first
step in building a
brand
.