Nowadays, with the increased competition in the global market, organizations are applying various methods to attract customers. While few believe that they should focus on the reputation, others assert that they must consider short term strategies. This essay will discuss both the aspects before reaching to a pragmatic conclusion.
To begin with, when a company plans on long term, it succeeds in making a brand value. Since people's one of the most essential factor in buying a product is its image and reliability, the organization must try extremely hard to maintain their brand value. Furthermore, once an image is established, their customers become loyal and buy things from them only. For instance, Apple Incorporation, which is the world's largest smartphone maker, planned meticulously for its product that benefitted them greatly.
On the contrary, if they plan for a short term, their immediate results will be improved by some margin. It is well known that, the actions that are planned for small duration reap benefits immediately because they are easy to implement and results would be seen early. For example, the Colgate Incorporation, saw a substantial improvement in the revenue soon after they elevated the product price. However, the long term effects of such actions prove detrimental.
In conclusion, it can be said that, although the short term strategies have instant advantages, but they prove alleviating in the longer duration. Thus, companies should heed their reputation as it helps in consumer loyalty. If each organization works on their image then they surely do better business.
Nowadays, with the increased competition in the global market, organizations are applying various methods to attract customers. While few believe that they should focus on the reputation, others assert that they
must
consider short
term
strategies. This essay will discuss both the aspects
before
reaching to a pragmatic conclusion.
To
begin
with, when a
company
plans on long
term
, it succeeds in making a brand value. Since
people
's one of the most essential factor in buying a product is its image and reliability, the organization
must
try
extremely
hard
to maintain their brand value.
Furthermore
, once an image
is established
, their customers become loyal and
buy
things from them
only
.
For instance
, Apple Incorporation, which is the world's largest smartphone maker, planned
meticulously
for its product that
benefitted
them
greatly
.
On the contrary
, if they plan for a short
term
, their immediate results will be
improved
by
some
margin. It is well known that, the actions that
are planned
for
small
duration reap benefits immediately
because
they are easy to implement and results would be
seen
early.
For example
, the Colgate Incorporation,
saw
a substantial improvement in the revenue
soon
after they elevated the product price.
However
, the long
term
effects of such actions prove detrimental.
In conclusion
, it can
be said
that, although the short
term
strategies have instant advantages,
but
they prove alleviating in the longer duration.
Thus
,
companies
should heed their reputation as it
helps
in consumer loyalty. If each organization works on their image then they
surely
do better business.